Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪123, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 16x in the Retail Distributors industry in Asia. Total loss to shareholders of 61% over the past three years. New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Israeli stocks, typically moving 15% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 3.5% per year over the past 5 years. High level of non-cash earnings (28% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (₪151.8m market cap, or US$50.7m). Reported Earnings • Jun 02
First quarter 2026 earnings released: EPS: ₪14.27 (vs ₪13.86 in 1Q 2025) First quarter 2026 results: EPS: ₪14.27 (up from ₪13.86 in 1Q 2025). Revenue: ₪201.2m (up 9.4% from 1Q 2025). Net income: ₪17.7m (up 3.6% from 1Q 2025). Profit margin: 8.8% (down from 9.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Annonce • Jun 01
Globrands Ltd., Annual General Meeting, Jul 06, 2026 Globrands Ltd., Annual General Meeting, Jul 06, 2026. Location: co. offices, Israel Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪290, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 17x in the Retail Distributors industry in Asia. Total loss to shareholders of 4.3% over the past three years. New Risk • Apr 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₪297.6m (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Earnings have declined by 3.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.4% average weekly change). Market cap is less than US$100m (₪297.6m market cap, or US$99.4m). New Risk • Feb 03
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 3.4% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 2.0% per year over the past 5 years. High level of non-cash earnings (37% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (3.4% average weekly change). Buy Or Sell Opportunity • Feb 03
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to ₪370. The fair value is estimated to be ₪534, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.9% over the last 3 years, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪522, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 19x in the Retail Distributors industry in Asia. Total returns to shareholders of 71% over the past three years. Reported Earnings • Nov 28
Third quarter 2025 earnings released: EPS: ₪13.79 (vs ₪19.34 in 3Q 2024) Third quarter 2025 results: EPS: ₪13.79 (down from ₪19.34 in 3Q 2024). Revenue: ₪216.7m (up 4.7% from 3Q 2024). Net income: ₪17.1m (down 28% from 3Q 2024). Profit margin: 7.9% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Aug 26
Second quarter 2025 earnings released: EPS: ₪12.28 (vs ₪15.35 in 2Q 2024) Second quarter 2025 results: EPS: ₪12.28 (down from ₪15.35 in 2Q 2024). Revenue: ₪189.6m (down 5.6% from 2Q 2024). Net income: ₪15.1m (down 20% from 2Q 2024). Profit margin: 8.0% (down from 9.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jul 02
Now 21% undervalued Over the last 90 days, the stock has risen 7.3% to ₪606. The fair value is estimated to be ₪762, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Upcoming Dividend • May 28
Upcoming dividend of ₪22.78 per share Eligible shareholders must have bought the stock before 04 June 2025. Payment date: 17 June 2025. Payout ratio is on the higher end at 80% but the company is not cash flow positive. Trailing yield: 8.3%. Within top quartile of Israeli dividend payers (6.0%). Higher than average of industry peers (2.6%). Reported Earnings • May 22
First quarter 2025 earnings released: EPS: ₪13.86 (vs ₪14.71 in 1Q 2024) First quarter 2025 results: EPS: ₪13.86 (down from ₪14.71 in 1Q 2024). Revenue: ₪183.9m (down 6.5% from 1Q 2024). Net income: ₪17.0m (down 5.8% from 1Q 2024). Profit margin: 9.3% (up from 9.2% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. New Risk • Mar 22
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 7.9% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Earnings have declined by 0.6% per year over the past 5 years. Minor Risk Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Annonce • Mar 20
Globrands Ltd., Annual General Meeting, May 05, 2025 Globrands Ltd., Annual General Meeting, May 05, 2025. Location: company offices, Israel Reported Earnings • Nov 27
Third quarter 2024 earnings released: EPS: ₪19.34 (vs ₪13.16 in 3Q 2023) Third quarter 2024 results: EPS: ₪19.34 (up from ₪13.16 in 3Q 2023). Revenue: ₪206.9m (up 29% from 3Q 2023). Net income: ₪23.8m (up 47% from 3Q 2023). Profit margin: 12% (up from 10% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has remained flat. Annonce • Sep 04
Globrands Ltd. to Report Q2, 2024 Results on Sep 18, 2024 Globrands Ltd. announced that they will report Q2, 2024 results on Sep 18, 2024 Reported Earnings • Aug 22
Second quarter 2024 earnings released: EPS: ₪15.35 (vs ₪11.41 in 2Q 2023) Second quarter 2024 results: EPS: ₪15.35 (up from ₪11.41 in 2Q 2023). Revenue: ₪200.8m (up 26% from 2Q 2023). Net income: ₪18.9m (up 35% from 2Q 2023). Profit margin: 9.4% (up from 8.8% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 3% per year. Annonce • Mar 26
Globrands Ltd., Annual General Meeting, May 07, 2024 Globrands Ltd., Annual General Meeting, May 07, 2024, at 15:00 Israel Standard Time. New Risk • Dec 07
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 97% Cash payout ratio: 140% Dividend yield: 13% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 97% Cash payout ratio: 140% Minor Risk High level of debt (258% net debt to equity). Reported Earnings • Nov 25
Third quarter 2023 earnings released: EPS: ₪13.16 (vs ₪15.27 in 3Q 2022) Third quarter 2023 results: EPS: ₪13.16 (down from ₪15.27 in 3Q 2022). Revenue: ₪160.3m (up 1.6% from 3Q 2022). Net income: ₪16.2m (down 14% from 3Q 2022). Profit margin: 10% (down from 12% 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 4% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 11
Upcoming dividend of ₪26.04 per share at 10% yield Eligible shareholders must have bought the stock before 18 June 2023. Payment date: 26 June 2023. Payout ratio is on the higher end at 81%, and the cash payout ratio is above 100%. Trailing yield: 10%. Within top quartile of Israeli dividend payers (7.3%). Higher than average of industry peers (2.5%). Reported Earnings • May 28
First quarter 2023 earnings released: EPS: ₪14.10 (vs ₪12.47 in 1Q 2022) First quarter 2023 results: EPS: ₪14.10 (up from ₪12.47 in 1Q 2022). Revenue: ₪165.3m (up 24% from 1Q 2022). Net income: ₪17.3m (up 13% from 1Q 2022). Profit margin: 11% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • Mar 29
Full year 2022 earnings released: EPS: ₪57.18 (vs ₪59.19 in FY 2021) Full year 2022 results: EPS: ₪57.18 (down from ₪59.19 in FY 2021). Revenue: ₪596.0m (up 8.5% from FY 2021). Net income: ₪69.0m (down 5.2% from FY 2021). Profit margin: 12% (down from 13% 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 1% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Nov 28
Upcoming dividend of ₪20.34 per share Eligible shareholders must have bought the stock before 05 December 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 42% but the company is paying out more than the cash it is generating. Trailing yield: 12%. Within top quartile of Israeli dividend payers (7.2%). Higher than average of industry peers (2.6%). Reported Earnings • Nov 27
Third quarter 2022 earnings released: EPS: ₪15.27 (vs ₪14.17 in 3Q 2021) Third quarter 2022 results: EPS: ₪15.27 (up from ₪14.17 in 3Q 2021). Revenue: ₪157.8m (up 14% from 3Q 2021). Net income: ₪18.8m (up 7.7% from 3Q 2021). Profit margin: 12% (in line with 3Q 2021). Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 3% per year. 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. 3 experienced directors. 3 highly experienced directors. Independent External Director Yitzhak Krinsky was the last director to join the board, commencing their role in 2018. 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 released: EPS: ₪12.47 (vs ₪15.30 in 1Q 2021) First quarter 2022 results: EPS: ₪12.47 (down from ₪15.30 in 1Q 2021). Revenue: ₪133.5m (flat on 1Q 2021). Net income: ₪15.3m (down 19% from 1Q 2021). Profit margin: 12% (down from 14% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 4% per year. Board Change • Apr 27
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. 3 experienced directors. 3 highly experienced directors. Independent External Director Yitzhak Krinsky was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₪59.19 (down from ₪59.97 in FY 2020). Revenue: ₪549.1m (up 5.4% from FY 2020). Net income: ₪72.7m (flat on FY 2020). Profit margin: 13% (in line with FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Nov 27
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: ₪14.17 (down from ₪16.53 in 3Q 2020). Revenue: ₪138.4m (flat on 3Q 2020). Net income: ₪17.4m (down 14% from 3Q 2020). Profit margin: 13% (down from 15% in 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 28
Second quarter 2021 earnings released The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: ₪141.2m (up 14% from 2Q 2020). Net income: ₪19.8m (up 13% from 2Q 2020). Profit margin: 14% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 16
Full year 2020 earnings released: EPS ₪59.97 (vs ₪54.29 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: ₪520.8m (up 12% from FY 2019). Net income: ₪72.2m (up 13% from FY 2019). Profit margin: 14% (in line with FY 2019). Is New 90 Day High Low • Feb 15
New 90-day high: ₪424 The company is up 3.0% from its price of ₪412 on 17 November 2020. The Israeli market is up 12% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Retail Distributors industry, which is down 3.0% over the same period. Reported Earnings • Nov 16
Third quarter 2020 earnings released: EPS ₪16.53 The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ₪139.2m (up 15% from 3Q 2019). Net income: ₪20.3m (up 9.7% from 3Q 2019). Profit margin: 15% (in line with 3Q 2019). Is New 90 Day High Low • Nov 12
New 90-day high: ₪420 The company is up 8.0% from its price of ₪388 on 13 August 2020. The Israeli market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is down 3.0% over the same period. Annonce • Jun 19
Globrands Ltd. announced that it expects to receive ILS 17.702 million in funding Globrands Ltd. (TASE:GLRS) announced a private placement of shares for gross proceeds of ILS 17,702,000 on June 17, 2020. The transaction will include participation from 7 investors. The transaction has been approved by the board of directors. All securities issued in the transaction have a hold period of 6 months.