Reported Earnings • Jun 02
First quarter 2026 earnings released: EPS: ₪2.80 (vs ₪4.10 in 1Q 2025) First quarter 2026 results: EPS: ₪2.80 (down from ₪4.10 in 1Q 2025). Revenue: ₪785.6m (down 16% from 1Q 2025). Net income: ₪88.3m (down 32% from 1Q 2025). Profit margin: 11% (down from 14% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • May 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 30% 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 Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Earnings have declined by 4.9% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. 공시 • May 08
Equital Ltd., Annual General Meeting, Jun 11, 2026 Equital Ltd., Annual General Meeting, Jun 11, 2026. Location: co. offices, Israel Reported Earnings • Dec 02
Third quarter 2025 earnings released: EPS: ₪3.20 (vs ₪4.10 in 3Q 2024) Third quarter 2025 results: EPS: ₪3.20 (down from ₪4.10 in 3Q 2024). Revenue: ₪847.8m (down 11% from 3Q 2024). Net income: ₪101.4m (down 23% from 3Q 2024). Profit margin: 12% (down from 14% in 3Q 2024). The decrease in margin was driven by lower 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 13% per year, which means it is well ahead of earnings. New Risk • Sep 01
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% 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 (20% operating cash flow to total debt). Earnings have declined by 8.0% per year over the past 5 years. Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₪146, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 14x in the Oil and Gas industry in Israel. Total returns to shareholders of 26% over the past three years. Reported Earnings • May 31
First quarter 2025 earnings released: EPS: ₪4.10 (vs ₪6.20 in 1Q 2024) First quarter 2025 results: EPS: ₪4.10 (down from ₪6.20 in 1Q 2024). Revenue: ₪930.7m (up 11% from 1Q 2024). Net income: ₪129.4m (down 34% from 1Q 2024). Profit margin: 14% (down from 24% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. 공시 • Apr 07
Equital Ltd., Annual General Meeting, Apr 28, 2025 Equital Ltd., Annual General Meeting, Apr 28, 2025. Location: co. offices, Israel Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: ₪15.00 (vs ₪8.29 in FY 2023) Full year 2024 results: EPS: ₪15.00 (up from ₪8.29 in FY 2023). Revenue: ₪3.58b (up 16% from FY 2023). Net income: ₪473.9m (up 81% from FY 2023). Profit margin: 13% (up from 8.5% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪126, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 10x in the Oil and Gas industry in Israel. Total loss to shareholders of 7.1% over the past three years. Reported Earnings • Dec 01
Third quarter 2024 earnings released: EPS: ₪4.10 (vs ₪3.40 in 3Q 2023) Third quarter 2024 results: EPS: ₪4.10 (up from ₪3.40 in 3Q 2023). Revenue: ₪947.4m (up 13% from 3Q 2023). Net income: ₪131.2m (up 21% from 3Q 2023). Profit margin: 14% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. 공시 • Nov 27
Equital Ltd., Annual General Meeting, Dec 31, 2024 Equital Ltd., Annual General Meeting, Dec 31, 2024. Location: co. offices, Israel Reported Earnings • Sep 01
Second quarter 2024 earnings released: EPS: ₪2.60 (vs ₪2.30 in 2Q 2023) Second quarter 2024 results: EPS: ₪2.60 (up from ₪2.30 in 2Q 2023). Revenue: ₪857.4m (up 7.4% from 2Q 2023). Net income: ₪81.7m (up 15% from 2Q 2023). Profit margin: 9.5% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Apr 02
Full year 2023 earnings released: EPS: ₪8.30 (vs ₪15.62 in FY 2022) Full year 2023 results: EPS: ₪8.30 (down from ₪15.62 in FY 2022). Revenue: ₪3.09b (up 12% from FY 2022). Net income: ₪262.5m (down 46% from FY 2022). Profit margin: 8.5% (down from 17% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Dec 02
Third quarter 2023 earnings released: EPS: ₪3.40 (vs ₪5.39 in 3Q 2022) Third quarter 2023 results: EPS: ₪3.40 (down from ₪5.39 in 3Q 2022). Revenue: ₪839.2m (up 15% from 3Q 2022). Net income: ₪108.1m (down 36% from 3Q 2022). Profit margin: 13% (down from 23% 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 2% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₪103, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 8x in the Oil and Gas industry in Israel. Total returns to shareholders of 59% over the past three years. Reported Earnings • Sep 02
Second quarter 2023 earnings released: EPS: ₪2.30 (vs ₪3.91 in 2Q 2022) Second quarter 2023 results: EPS: ₪2.30 (down from ₪3.91 in 2Q 2022). Revenue: ₪798.6m (up 8.4% from 2Q 2022). Net income: ₪71.2m (down 40% from 2Q 2022). Profit margin: 8.9% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jun 03
First quarter 2023 earnings released: EPS: ₪2.30 (vs ₪4.85 in 1Q 2022) First quarter 2023 results: EPS: ₪2.30 (down from ₪4.85 in 1Q 2022). Revenue: ₪794.1m (up 28% from 1Q 2022). Net income: ₪73.1m (down 50% from 1Q 2022). Profit margin: 9.2% (down from 24% in 1Q 2022). The decrease in margin was driven by higher expenses. 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 10% per year. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: ₪15.60 (vs ₪29.15 in FY 2021) Full year 2022 results: EPS: ₪15.60 (down from ₪29.15 in FY 2021). Revenue: ₪2.77b (up 26% from FY 2021). Net income: ₪481.2m (down 45% from FY 2021). Profit margin: 17% (down from 40% in FY 2021). Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪80.80, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 8x in the Oil and Gas industry in Israel. Total loss to shareholders of 3.1% over the past three years. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪105, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 8x in the Oil and Gas industry in Israel. Total returns to shareholders of 19% over the past three years. Reported Earnings • Dec 04
Third quarter 2022 earnings released: EPS: ₪5.39 (vs ₪11.30 in 3Q 2021) Third quarter 2022 results: EPS: ₪5.39 (down from ₪11.30 in 3Q 2021). Revenue: ₪730.3m (up 16% from 3Q 2021). Net income: ₪168.0m (down 51% from 3Q 2021). Profit margin: 23% (down from 54% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 3% 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. 1 experienced director. 3 highly experienced directors. Independent Director Yosef Yarom was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 04
Second quarter 2022 earnings released: EPS: ₪3.91 (vs ₪1.62 in 2Q 2021) Second quarter 2022 results: EPS: ₪3.91 (up from ₪1.62 in 2Q 2021). Revenue: ₪736.9m (up 52% from 2Q 2021). Net income: ₪117.8m (up 142% from 2Q 2021). Profit margin: 16% (up from 10% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 03
First quarter 2022 earnings released: EPS: ₪4.85 (vs ₪4.08 in 1Q 2021) First quarter 2022 results: EPS: ₪4.85 (up from ₪4.08 in 1Q 2021). Revenue: ₪621.8m (up 30% from 1Q 2021). Net income: ₪145.9m (up 19% from 1Q 2021). Profit margin: 24% (down from 26% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. 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. 2 experienced directors. 3 highly experienced directors. Independent Director Yosef Yarom was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improved over the past week After last week's 15% share price gain to ₪136, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 9x in the Oil and Gas industry in Israel. Total returns to shareholders of 31% over the past three years. Reported Earnings • Dec 03
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: EPS: ₪11.30 (up from ₪3.12 in 3Q 2020). Revenue: ₪629.6m (down 7.2% from 3Q 2020). Net income: ₪340.2m (up 263% from 3Q 2020). Profit margin: 54% (up from 14% in 3Q 2020). Revenue was in line with analyst estimates. 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 7% per year, which means it is well ahead of earnings. Reported Earnings • Apr 02
Full year 2020 earnings released: EPS ₪9.98 (vs ₪21.74 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ₪2.55b (down 15% from FY 2019). Net income: ₪300.4m (down 50% from FY 2019). Profit margin: 12% (down from 20% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Dec 30
New 90-day high: ₪83.49 The company is up 37% from its price of ₪60.88 on 01 October 2020. The Israeli market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 21% over the same period. Reported Earnings • Dec 06
Third quarter 2020 earnings released: EPS ₪3.12 The company reported a poor third quarter result with weaker earnings and revenues, although profit margins were flat. Third quarter 2020 results: Revenue: ₪678.7m (down 15% from 3Q 2019). Net income: ₪93.8m (down 11% from 3Q 2019). Profit margin: 14% (in line with 3Q 2019). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 09
New 90-day high: ₪71.20 The company is up 10.0% from its price of ₪64.84 on 11 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 Oil and Gas industry, which is down 4.0% over the same period.