Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪2.25, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 19x in the Auto Components industry in Asia. Total returns to shareholders of 17% over the past three years. Upcoming Dividend • Jun 02
Upcoming dividend of ₪0.051 per share Eligible shareholders must have bought the stock before 09 June 2026. Payment date: 22 June 2026. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 8.6%. Within top quartile of Israeli dividend payers (5.4%). Higher than average of industry peers (1.8%). Reported Earnings • Jun 01
First quarter 2026 earnings released: EPS: ₪0.076 (vs ₪0.077 in 1Q 2025) First quarter 2026 results: EPS: ₪0.076. Revenue: ₪44.5m (up 3.5% from 1Q 2025). Net income: ₪5.96m (up 3.6% from 1Q 2025). Profit margin: 13% (in line with 1Q 2025). New Risk • Apr 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 65% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (₪204.0m market cap, or US$67.2m). Upcoming Dividend • Apr 08
Upcoming dividend of ₪0.051 per share Eligible shareholders must have bought the stock before 15 April 2026. Payment date: 28 April 2026. Payout ratio is on the higher end at 82%, however this is supported by cash flows. Trailing yield: 8.3%. Within top quartile of Israeli dividend payers (5.5%). Higher than average of industry peers (2.0%). Reported Earnings • Mar 27
Full year 2025 earnings released: EPS: ₪0.23 (vs ₪0.20 in FY 2024) Full year 2025 results: EPS: ₪0.23 (up from ₪0.20 in FY 2024). Revenue: ₪162.0m (flat on FY 2024). Net income: ₪17.3m (up 15% from FY 2024). Profit margin: 11% (up from 9.2% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 4% per year. Upcoming Dividend • Dec 01
Upcoming dividend of ₪0.051 per share Eligible shareholders must have bought the stock before 08 December 2025. Payment date: 23 December 2025. Payout ratio and cash payout ratio are on the higher end at 89% and 86% respectively. Trailing yield: 8.0%. Within top quartile of Israeli dividend payers (5.2%). Higher than average of industry peers (1.9%). Reported Earnings • Nov 30
Third quarter 2025 earnings released: EPS: ₪0.066 (vs ₪0.05 in 3Q 2024) Third quarter 2025 results: EPS: ₪0.066 (up from ₪0.05 in 3Q 2024). Revenue: ₪41.6m (down 1.9% from 3Q 2024). Net income: ₪4.97m (up 34% from 3Q 2024). Profit margin: 12% (up from 8.8% in 3Q 2024). The increase in margin was driven by lower 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. Announcement • Sep 10
Tgi Infrastructures Ltd, Annual General Meeting, Oct 20, 2025 Tgi Infrastructures Ltd, Annual General Meeting, Oct 20, 2025. Location: co. offices, Israel Reported Earnings • Sep 01
Second quarter 2025 earnings released: EPS: ₪0.035 (vs ₪0.053 in 2Q 2024) Second quarter 2025 results: EPS: ₪0.035 (down from ₪0.053 in 2Q 2024). Revenue: ₪40.5m (up 4.5% from 2Q 2024). Net income: ₪2.60m (down 34% from 2Q 2024). Profit margin: 6.4% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. New Risk • Jul 22
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 6.5% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 121% Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (₪191.4m market cap, or US$57.3m). Upcoming Dividend • Jun 01
Upcoming dividend of ₪0.067 per share Eligible shareholders must have bought the stock before 08 June 2025. Payment date: 18 June 2025. Payout ratio is on the higher end at 88%, and the cash payout ratio is above 100%. Trailing yield: 9.3%. Within top quartile of Israeli dividend payers (6.2%). Higher than average of industry peers (2.3%). Reported Earnings • May 28
First quarter 2025 earnings released: EPS: ₪0.077 (vs ₪0.034 in 1Q 2024) First quarter 2025 results: EPS: ₪0.077 (up from ₪0.034 in 1Q 2024). Revenue: ₪43.0m (up 4.4% from 1Q 2024). Net income: ₪5.76m (up 127% from 1Q 2024). Profit margin: 13% (up from 6.1% in 1Q 2024). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: ₪0.20 (vs ₪0.21 in FY 2023) Full year 2024 results: EPS: ₪0.20 (down from ₪0.21 in FY 2023). Revenue: ₪162.8m (down 12% from FY 2023). Net income: ₪15.0m (down 2.0% from FY 2023). Profit margin: 9.2% (up from 8.3% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪1.96, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 21x in the Auto Components industry in Asia. Total returns to shareholders of 89% over the past three years. New Risk • Dec 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (₪138.4m market cap, or US$38.5m). New Risk • Dec 02
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 5.2% 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 cash flows (119% cash payout ratio). Share price has been volatile over the past 3 months (5.2% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₪148.1m market cap, or US$40.6m). Buy Or Sell Opportunity • Sep 08
Now 21% undervalued Over the last 90 days, the stock has risen 9.9% to ₪1.87. The fair value is estimated to be ₪2.36, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Aug 25
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.0% Last year net profit margin: 10.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (7.0% net profit margin). Market cap is less than US$100m (₪144.1m market cap, or US$39.1m). Reported Earnings • Aug 25
Second quarter 2024 earnings released: EPS: ₪0.053 (vs ₪0.11 in 2Q 2023) Second quarter 2024 results: EPS: ₪0.053 (down from ₪0.11 in 2Q 2023). Revenue: ₪38.8m (down 15% from 2Q 2023). Net income: ₪3.91m (down 52% from 2Q 2023). Profit margin: 10% (down from 18% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 31
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₪1.72, the stock trades at a trailing P/E ratio of 8.3x. Average trailing P/E is 18x in the Auto Components industry in Asia. Total returns to shareholders of 91% over the past three years. New Risk • May 16
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 5.9% 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 Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (5.9% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₪157.9m market cap, or US$42.7m). Announcement • Apr 19
Tgi Infrastructures Ltd, Annual General Meeting, May 21, 2024 Tgi Infrastructures Ltd, Annual General Meeting, May 21, 2024, at 12:00 Israel Standard Time. Reported Earnings • Apr 01
Full year 2023 earnings released: EPS: ₪0.33 (vs ₪0.24 in FY 2022) Full year 2023 results: EPS: ₪0.33 (up from ₪0.24 in FY 2022). Revenue: ₪183.9m (up 12% from FY 2022). Net income: ₪24.1m (up 88% from FY 2022). Profit margin: 13% (up from 7.9% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 01
Inaugural dividend of ₪0.068 per share Eligible shareholders must have bought the stock before 08 April 2024. Payment date: 15 April 2024. This is the first dividend for Tgi Infrastructures since going public. The average dividend yield among industry peers is 1.8%. New Risk • Mar 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.3% increase in shares outstanding). Market cap is less than US$100m (₪181.2m market cap, or US$49.3m). Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪2.34, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 20x in the Auto Components industry in Asia. Total returns to shareholders of 134% over the past three years. New Risk • Nov 06
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 7.1% 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: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (6.3% increase in shares outstanding). Market cap is less than US$100m (₪149.2m market cap, or US$38.4m). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Yigal Moran was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 03
First half 2022 earnings released: EPS: US$0.05 (vs US$0.016 loss in 1H 2021) First half 2022 results: EPS: US$0.05 (up from US$0.016 loss in 1H 2021). Revenue: US$60.8m (up US$50.7m from 1H 2021). Net income: US$2.14m (up US$2.78m from 1H 2021). Profit margin: 3.5% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Board Change • Jul 29
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Maayan Mualam is the most experienced director on the board, commencing their role in 2019. Independent Director Yigal Moran was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Mar 31
Full year 2020 earnings released: US$0.008 loss per share (vs US$0.008 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$17.9m (down 32% from FY 2019). Net loss: US$3.42m (loss widened 5.5% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Reported Earnings • Dec 03
Third quarter 2020 earnings released: US$0.003 loss per share The company reported a poor third quarter result with increased losses and weaker revenues and control over expenses. Third quarter 2020 results: Revenue: US$3.97m (down 39% from 3Q 2019). Net loss: US$1.20m (loss widened 20% from 3Q 2019). 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 41% per year, which means it is significantly lagging earnings.