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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 2.7x - 3.0x | 2.9x |
Selected Fwd Ps Multiple | 2.7x - 3.0x | 2.8x |
Fair Value | ₪361.94 - ₪400.04 | ₪380.99 |
Upside | 40.6% - 55.4% | 48.0% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
A. Libental Holdings Ltd | - | TASE:LBTL |
Blue Square Real Estate Ltd | - | TASE:BLSR |
Mivne Real Estate (K.D) Ltd | - | TASE:MVNE |
Gav-Yam Lands Corp. Ltd | - | TASE:GVYM |
AFI Properties Ltd. | - | TASE:AFPR |
Property & Building Corp. Ltd. | - | TASE:PTBL |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
LBTL | BLSR | MVNE | GVYM | AFPR | PTBL | |||
TASE:LBTL | TASE:BLSR | TASE:MVNE | TASE:GVYM | TASE:AFPR | TASE:PTBL | |||
Historical Sales Growth | ||||||||
5Y CAGR | -20.0% | 31.9% | 4.7% | 8.5% | 11.2% | 18.5% | ||
3Y CAGR | -27.2% | 28.5% | 8.6% | 9.8% | 9.3% | 26.6% | ||
Latest Twelve Months | -8.1% | 49.4% | 16.8% | 8.1% | 9.2% | -11.7% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | -17.2% | 96.3% | 70.9% | 121.8% | 36.1% | 64.5% | ||
Prior Fiscal Year | -45.2% | 110.9% | 27.1% | 64.3% | 15.4% | -29.5% | ||
Latest Fiscal Year | -1.5% | 76.4% | 38.3% | 57.0% | 44.3% | 25.0% | ||
Latest Twelve Months | -1.5% | 76.4% | 38.3% | 67.4% | 44.3% | 25.0% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | -54.2x | 20.0x | 18.0x | 25.5x | 21.1x | 22.9x | ||
Price / LTM Sales | 2.7x | 4.7x | 5.5x | 8.3x | 4.7x | 1.9x | ||
LTM P/E Ratio | -182.6x | 6.2x | 14.4x | 12.4x | 10.6x | 7.7x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 2.7x | 4.7x | 8.3x | |||||
Historical LTM P/S Ratio | 1.2x | 2.2x | 11.5x | |||||
Selected Price / Sales Multiple | 2.7x | 2.9x | 3.0x | |||||
(x) LTM Sales | 991 | 991 | 991 | |||||
(=) Equity Value | 2,695 | 2,837 | 2,979 | |||||
(/) Shares Outstanding | 7.4 | 7.4 | 7.4 | |||||
Implied Value Range | 365.00 | 384.21 | 403.42 | |||||
FX Rate: ILS/ILS | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 365.00 | 384.21 | 403.42 | 257.40 | ||||
Upside / (Downside) | 41.8% | 49.3% | 56.7% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | LBTL | BLSR | MVNE | GVYM | AFPR | PTBL | |
Value of Common Equity | 103 | 4,020 | 7,936 | 7,160 | 7,021 | 1,900 | |
(/) Shares Outstanding | 10.0 | 12.2 | 730.0 | 220.3 | 38.1 | 7.4 | |
Implied Stock Price | 10.37 | 329.50 | 10.87 | 32.50 | 184.50 | 257.40 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 10.37 | 329.50 | 10.87 | 32.50 | 184.50 | 257.40 | |
Trading Currency | ILS | ILS | ILS | ILS | ILS | ILS | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |