Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 9.0% - 8.0% | 8.5% |
| Terminal EBITDA Multiple | 7.7x - 9.7x | 8.7x |
| Fair Value | ₪42.54 - ₪55.31 | ₪48.80 |
| Upside | 1.2% - 31.6% | 16.1% |
| Select Revenue and EBITDA Forecast | ||||||
| (ILS in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 3,556 | 3,680 | 3,754 | 3,829 | 3,906 | 3,984 |
| % Growth | 5.4% | 3.5% | 2.0% | 2.0% | 2.0% | 2.0% |
| EBITDA | 185 | 195 | 199 | 203 | 207 | 212 |
| % of Revenue | 5.2% | 5.3% | 5.3% | 5.3% | 5.3% | 5.3% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (ILS in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 195 | 199 | 203 | 207 | 212 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (45) | (46) | (47) | (48) | (49) | |
| EBIT | 151 | 154 | 157 | 160 | 163 | |
| Pro forma Taxes | (35) | (35) | (36) | (37) | (37) | |
| NOPAT | 117 | 116 | 118 | 121 | 123 | 126 |
| Capital Expenditures | (61) | (49) | (50) | (53) | (54) | (55) |
| NWC Investment | (34) | (23) | (14) | (14) | (14) | (15) |
| (+) D&A | 34 | 45 | 46 | 47 | 48 | 49 |
| Free Cash Flow | 55 | 88 | 100 | 100 | 102 | 104 |
| % Growth | 62% | 13% | 0% | 2% | 2% | |