Reported Earnings • May 25
First quarter 2026 earnings released: EPS: ₪0.001 (vs ₪0.002 in 1Q 2025) First quarter 2026 results: EPS: ₪0.001 (down from ₪0.002 in 1Q 2025). Revenue: ₪505.8m (flat on 1Q 2025). Net income: ₪442.0k (down 56% from 1Q 2025). Profit margin: 0.1% (down from 0.2% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 25
Full year 2025 earnings released: EPS: ₪0.009 (vs ₪0.077 in FY 2024) Full year 2025 results: EPS: ₪0.009 (down from ₪0.077 in FY 2024). Revenue: ₪1.81b (down 11% from FY 2024). Net income: ₪4.12m (down 90% from FY 2024). Profit margin: 0.2% (down from 2.0% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. New Risk • Mar 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 161% Paying a dividend despite having no free cash flows. Earnings have declined by 30% per year over the past 5 years. High level of non-cash earnings (35% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (0.2% net profit margin). Announcement • Mar 16
Novolog (Pharm-Up 1966) Ltd to Report Q4, 2025 Results on Mar 23, 2026 Novolog (Pharm-Up 1966) Ltd announced that they will report Q4, 2025 results at 9:46 AM, Israel Standard Time on Mar 23, 2026 Reported Earnings • Nov 25
Third quarter 2025 earnings released: EPS: ₪0.008 (vs ₪0.023 in 3Q 2024) Third quarter 2025 results: EPS: ₪0.008 (down from ₪0.023 in 3Q 2024). Revenue: ₪483.6m (up 3.8% from 3Q 2024). Net income: ₪3.95m (down 66% from 3Q 2024). Profit margin: 0.8% (down from 2.5% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year whereas the company’s share price has fallen by 23% per year. Announcement • Nov 13
Novolog (Pharm-Up 1966) Ltd to Report Q3, 2025 Results on Nov 24, 2025 Novolog (Pharm-Up 1966) Ltd announced that they will report Q3, 2025 results on Nov 24, 2025 Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪1.29, the stock trades at a trailing P/E ratio of 32.9x. Average trailing P/E is 14x in the Healthcare industry in Israel. Total loss to shareholders of 52% over the past three years. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₪0.009 (vs ₪0.026 in 2Q 2024) Second quarter 2025 results: EPS: ₪0.009 (down from ₪0.026 in 2Q 2024). Revenue: ₪441.7m (up 3.2% from 2Q 2024). Net income: ₪4.78m (down 64% from 2Q 2024). Profit margin: 1.1% (down from 3.1% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Aug 12
Novolog (Pharm-Up 1966) Ltd to Report Q2, 2025 Results on Aug 19, 2025 Novolog (Pharm-Up 1966) Ltd announced that they will report Q2, 2025 results on Aug 19, 2025 Reported Earnings • May 30
First quarter 2025 earnings released: EPS: ₪0.002 (vs ₪0.024 in 1Q 2024) First quarter 2025 results: EPS: ₪0.002 (down from ₪0.024 in 1Q 2024). Revenue: ₪506.9m (up 16% from 1Q 2024). Net income: ₪1.01m (down 92% from 1Q 2024). Profit margin: 0.2% (down from 2.7% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. New Risk • May 30
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 24% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Announcement • May 11
Novolog (Pharm-Up 1966) Ltd to Report Q1, 2025 Results on May 20, 2025 Novolog (Pharm-Up 1966) Ltd announced that they will report Q1, 2025 results on May 20, 2025 Reported Earnings • Mar 26
Full year 2024 earnings released: EPS: ₪0.077 (vs ₪0.082 loss in FY 2023) Full year 2024 results: EPS: ₪0.077 (up from ₪0.082 loss in FY 2023). Revenue: ₪2.02b (up 23% from FY 2023). Net income: ₪39.5m (up ₪81.5m from FY 2023). Profit margin: 2.0% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Announcement • Mar 12
Novolog (Pharm-Up 1966) Ltd to Report Q4, 2024 Results on Mar 25, 2025 Novolog (Pharm-Up 1966) Ltd announced that they will report Q4, 2024 results on Mar 25, 2025 Upcoming Dividend • Nov 25
Upcoming dividend of ₪0.02 per share Eligible shareholders must have bought the stock before 02 December 2024. Payment date: 09 December 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Israeli dividend payers (6.3%). Lower than average of industry peers (4.5%). Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: ₪0.023 (vs ₪0.001 in 3Q 2023) Third quarter 2024 results: EPS: ₪0.023 (up from ₪0.001 in 3Q 2023). Revenue: ₪465.7m (up 11% from 3Q 2023). Net income: ₪11.6m (up ₪11.3m from 3Q 2023). Profit margin: 2.5% (up from 0.1% in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Nov 20
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to ₪1.72. The fair value is estimated to be ₪1.43, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Announcement • Nov 04
Novolog (Pharm-Up 1966) Ltd to Report Q3, 2024 Results on Nov 20, 2024 Novolog (Pharm-Up 1966) Ltd announced that they will report Q3, 2024 results on Nov 20, 2024 Upcoming Dividend • Aug 27
Upcoming dividend of ₪0.029 per share Eligible shareholders must have bought the stock before 03 September 2024. Payment date: 12 September 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Israeli dividend payers (6.9%). Lower than average of industry peers (4.7%). Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: ₪0.026 (vs ₪0.023 in 2Q 2023) Second quarter 2024 results: EPS: ₪0.026 (up from ₪0.023 in 2Q 2023). Revenue: ₪428.0m (up 3.6% from 2Q 2023). Net income: ₪13.3m (up 14% from 2Q 2023). Profit margin: 3.1% (up from 2.8% in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Announcement • Aug 20
Novolog (Pharm-Up 1966) Ltd to Report Q2, 2024 Results on Sep 04, 2024 Novolog (Pharm-Up 1966) Ltd announced that they will report Q2, 2024 results on Sep 04, 2024 Announcement • Jul 02
Novolog (Pharm-Up 1966) Ltd, Annual General Meeting, Aug 05, 2024 Novolog (Pharm-Up 1966) Ltd, Annual General Meeting, Aug 05, 2024. Location: goldfarb law offices, Israel Reported Earnings • May 21
First quarter 2024 earnings released: EPS: ₪0.024 (vs ₪0.02 loss in 1Q 2023) First quarter 2024 results: EPS: ₪0.024 (up from ₪0.02 loss in 1Q 2023). Revenue: ₪438.0m (up 6.0% from 1Q 2023). Net income: ₪12.0m (up ₪22.0m from 1Q 2023). Profit margin: 2.7% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Announcement • May 14
Novolog (Pharm-Up 1966) Ltd to Report Q1, 2024 Results on May 21, 2024 Novolog (Pharm-Up 1966) Ltd announced that they will report Q1, 2024 results on May 21, 2024 Reported Earnings • Mar 27
Full year 2023 earnings released: ₪0.082 loss per share (vs ₪0.094 profit in FY 2022) Full year 2023 results: ₪0.082 loss per share (down from ₪0.094 profit in FY 2022). Revenue: ₪1.64b (up 9.0% from FY 2022). Net loss: ₪42.0m (down 188% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Announcement • Mar 06
Novolog (Pharm-Up 1966) Ltd to Report Q4, 2023 Results on Mar 26, 2024 Novolog (Pharm-Up 1966) Ltd announced that they will report Q4, 2023 results on Mar 26, 2024 New Risk • Feb 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Israeli stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by earnings (109% payout ratio). Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • Nov 22
Third quarter 2023 earnings released: EPS: ₪0.001 (vs ₪0.02 in 3Q 2022) Third quarter 2023 results: EPS: ₪0.001 (down from ₪0.02 in 3Q 2022). Revenue: ₪420.8m (up 8.5% from 3Q 2022). Net income: ₪332.0k (down 97% from 3Q 2022). Profit margin: 0.1% (down from 2.6% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₪1.55, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 9x in the Healthcare industry in Israel. Total loss to shareholders of 44% over the past three years. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: ₪0.023 (vs ₪0.024 in 2Q 2022) Second quarter 2023 results: EPS: ₪0.023 (down from ₪0.024 in 2Q 2022). Revenue: ₪413.1m (up 14% from 2Q 2022). Net income: ₪11.6m (down 2.9% from 2Q 2022). Profit margin: 2.8% (down from 3.3% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Reported Earnings • Jun 01
First quarter 2023 earnings released: ₪0.02 loss per share (vs ₪0.024 profit in 1Q 2022) First quarter 2023 results: ₪0.02 loss per share (down from ₪0.024 profit in 1Q 2022). Revenue: ₪413.2m (up 10% from 1Q 2022). Net loss: ₪10.0m (down 183% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪1.81, the stock trades at a trailing P/E ratio of 19.3x. Average trailing P/E is 9x in the Healthcare industry in Israel. Total returns to shareholders of 1.8% over the past three years. Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: ₪0.094 (vs ₪0.084 in FY 2021) Full year 2022 results: EPS: ₪0.094 (up from ₪0.084 in FY 2021). Revenue: ₪1.51b (up 20% from FY 2021). Net income: ₪47.8m (up 13% from FY 2021). Profit margin: 3.2% (down from 3.4% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₪1.71, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total loss to shareholders of 9.6% over the past three years. Announcement • Feb 07
Novolog (Pharm-Up 1966) Ltd to Report Q4, 2022 Results on Mar 20, 2023 Novolog (Pharm-Up 1966) Ltd announced that they will report Q4, 2022 results on Mar 20, 2023 Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪2.35, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 20x in the Healthcare industry in Asia. Total returns to shareholders of 25% over the past three years. Announcement • Jan 17
Novolog (Pharm-Up 1966) Ltd Appoints Tami Gottlieb as an Independent Non-Executive Director Plus500 announced pursuant to Listing Rule 9.6.14(2) that Tami Gottlieb, an independent non-executive director and external director of Plus500, has been appointed as an independent non-executive director of Novolog (Pharm-Up 1966) Ltd. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: ₪0.02 (vs ₪0.02 in 3Q 2021) Third quarter 2022 results: EPS: ₪0.02 (in line with 3Q 2021). Revenue: ₪387.7m (up 18% from 3Q 2021). Net income: ₪10.1m (flat on 3Q 2021). Profit margin: 2.6% (down from 3.1% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Director Doron Stieger was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 02
Novolog (Pharm-Up 1966) Ltd to Report Q3, 2022 Results on Nov 16, 2022 Novolog (Pharm-Up 1966) Ltd announced that they will report Q3, 2022 results on Nov 16, 2022 Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ₪0.024 (vs ₪0.02 in 2Q 2021) Second quarter 2022 results: EPS: ₪0.024 (up from ₪0.02 in 2Q 2021). Revenue: ₪361.4m (up 17% from 2Q 2021). Net income: ₪12.0m (up 19% from 2Q 2021). Profit margin: 3.3% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 32% per year. Board Change • Aug 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Director Doron Stieger was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 28
Novolog (Pharm-Up 1966) Ltd to Report Q2, 2022 Results on Aug 10, 2022 Novolog (Pharm-Up 1966) Ltd announced that they will report Q2, 2022 results at 9:46 AM, Israel Standard Time on Aug 10, 2022 Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Director Doron Stieger was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 22
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ₪0.024 (down from ₪0.025 in 1Q 2021). Revenue: ₪375.4m (up 19% from 1Q 2021). Net income: ₪12.0m (down 6.4% from 1Q 2021). Profit margin: 3.2% (down from 4.1% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 8.6%. Over the last 3 years on average, earnings per share has increased by 27% per year whereas the company’s share price has increased by 30% per year. Announcement • May 19
Novolog (Pharm-Up 1966) Ltd to Report Q1, 2022 Results on May 18, 2022 Novolog (Pharm-Up 1966) Ltd announced that they will report Q1, 2022 results on May 18, 2022 Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improved over the past week After last week's 15% share price gain to ₪3.22, the stock trades at a trailing P/E ratio of 38.5x. Average trailing P/E is 18x in the Healthcare industry in Asia. Total returns to shareholders of 140% over the past three years. Reported Earnings • Mar 17
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: EPS: ₪0.084 (down from ₪0.086 in FY 2020). Revenue: ₪1.26b (up 11% from FY 2020). Net income: ₪42.3m (up 5.6% from FY 2020). Profit margin: 3.4% (down from 3.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) missed analyst estimates by 8.6%. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 25
Novolog (Pharm-Up 1966) Ltd to Report Q4, 2021 Results on Mar 14, 2022 Novolog (Pharm-Up 1966) Ltd announced that they will report Q4, 2021 results on Mar 14, 2022 Reported Earnings • Nov 21
Third quarter 2021 earnings released: EPS ₪0.022 (vs ₪0.021 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₪329.9m (up 14% from 3Q 2020). Net income: ₪11.1m (up 14% from 3Q 2020). Profit margin: 3.4% (up from 3.3% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of ₪0.032 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 08 April 2021. Trailing yield: 1.1%. Lower than top quartile of Israeli dividend payers (4.8%). Lower than average of industry peers (1.3%). Reported Earnings • Mar 23
Full year 2020 earnings released: EPS ₪0.086 (vs ₪0.026 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ₪1.13b (up 13% from FY 2019). Net income: ₪40.1m (up 295% from FY 2019). Profit margin: 3.5% (up from 1.0% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Announcement • Mar 17
Novolog (Pharm-Up 1966) Ltd to Report Fiscal Year 2020 Results on Mar 17, 2021 Novolog (Pharm-Up 1966) Ltd announced that they will report fiscal year 2020 results on Mar 17, 2021 Is New 90 Day High Low • Feb 01
New 90-day low: ₪2.76 The company is down 3.0% from its price of ₪2.85 on 03 November 2020. The Israeli market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare industry, which is up 15% over the same period. Announcement • Dec 31
Novolog (Pharm-Up 1966) Ltd announced that it has received ILS 119.999999 million in funding Novolog (Pharm-Up 1966) Ltd (TASE:NVLG) announced a private placement of 40,955,631 common shares at a price ILS 2.93 per share for gross proceeds of ILS 119,999,999 on December 30, 2020. The transaction was led by existing investor Migdal Sal for ILS 31,900,000, along with participation from existing investors Harel Colleagues and The Phoenix Colleagues. The shares represent a stake of 8.12% stake in the company. Reported Earnings • Nov 28
Third quarter 2020 earnings released: EPS ₪0.021 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₪290.5m (up 8.9% from 3Q 2019). Net income: ₪9.70m (up ₪13.4m from 3Q 2019). Profit margin: 3.3% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 18
Market bids up stock over the past week After last week's 18% share price gain to ₪3.34, the stock is trading at a trailing P/E ratio of 60.5x, up from the previous P/E ratio of 51.3x. This compares to an average P/E of 25x in the Healthcare industry in Asia. Total returns to shareholders over the past three years are 127%. Is New 90 Day High Low • Nov 17
New 90-day high: ₪3.20 The company is up 10.0% from its price of ₪2.90 on 19 August 2020. The Israeli market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Healthcare industry, which is up 7.0% over the same period.