Board Change • Jun 10
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. No experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). CEO & Director Ran Stav is the most experienced director on the board, commencing their role in 2005. Independent Director Gadi Aviram was the last independent director to join the board, commencing their role in 2025. 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 20
Full year 2025 earnings released: EPS: ₪4.09 (vs ₪1.40 in FY 2024) Full year 2025 results: EPS: ₪4.09 (up from ₪1.40 in FY 2024). Revenue: ₪263.4m (up 21% from FY 2024). Net income: ₪18.7m (up 174% from FY 2024). Profit margin: 7.1% (up from 3.1% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. Declared Dividend • Mar 18
Dividend of ₪1.50 announced Shareholders will receive a dividend of ₪1.50. Ex-date: 23rd March 2026 Payment date: 31st March 2026 Dividend yield will be 14%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is not covered by earnings (138% earnings payout ratio). However, it is well covered by cash flows (38% cash payout ratio). The dividend has increased by an average of 23% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 53% to bring the payout ratio under control, which is more than the 44% EPS growth achieved over the last 5 years. 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 2025. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Dividend is not well covered by earnings (138% payout ratio). Market cap is less than US$100m (₪181.8m market cap, or US$57.8m). New Risk • Dec 25
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 6.9% 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 Dividend is not well covered by earnings (138% payout ratio). Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (₪180.1m market cap, or US$56.5m). Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₪39.83, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 23x in the Commercial Services industry in Israel. Total returns to shareholders of 70% over the past three years. Upcoming Dividend • Sep 28
Upcoming dividend of ₪2.22 per share Eligible shareholders must have bought the stock before 05 October 2025. Payment date: 16 October 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.0%. Lower than top quartile of Israeli dividend payers (5.9%). Higher than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₪29.73, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 39x in the Commercial Services industry in Israel. Total returns to shareholders of 27% over the past three years. Announcement • Jul 04
Aran Research & Development (1982) Ltd., Annual General Meeting, Aug 06, 2025 Aran Research & Development (1982) Ltd., Annual General Meeting, Aug 06, 2025. Location: co. offices, Israel Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪25.00, the stock trades at a trailing P/E ratio of 17.9x. Average trailing P/E is 18x in the Commercial Services industry in Israel. Total returns to shareholders of 15% over the past three years. Announcement • May 27
Benjamin Shimon Kremer acquired 18.18% stake in Aran Research & Development (1982) Ltd. (TASE:ARAN) for ILS 4.1 million. Benjamin Shimon Kremer acquired 18.18% stake in Aran Research & Development (1982) Ltd. (TASE:ARAN) for ILS 4.1 million on May 25, 2025. As part of the acquisition, Benjamin Shimon Kremer acquired 0.2 million shares at a price of ILS 21.007 per share.
Benjamin Shimon Kremer completed the acquisition of 18.18% stake in Aran Research & Development (1982) Ltd. (TASE:ARAN) on May 25, 2025. Announcement • May 22
An undisclosed buyer acquired an 10.93% minority stake in Aran Research & Development (1982) Ltd. (TASE:ARAN) from Harel Insurance Investments & Financial Services Ltd (TASE:HARL) for ILS 11.21 million. An undisclosed buyer acquired an 10.93% minority stake in Aran Research & Development (1982) Ltd. (TASE:ARAN) from Harel Insurance Investments & Financial Services Ltd (TASE:HARL) for ILS 11.21 million on May 19, 2025. A cash consideration will be paid by the buyer. As part of consideration, an undisclosed value is paid towards common equity of Aran Research & Development (1982) Ltd.
An undisclosed buyer completed the acquisition of an 10.93% minority stake in Aran Research & Development (1982) Ltd. (TASE:ARAN) from Harel Insurance Investments & Financial Services Ltd (TASE:HARL) for ILS 11.21 million on May 19, 2025. New Risk • May 21
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 2.9% 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 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 (2.9% average weekly change). Market cap is less than US$100m (₪103.6m market cap, or US$29.2m). Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₪25.85, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 20x in the Commercial Services industry in Israel. Total returns to shareholders of 27% over the past three years. Reported Earnings • Mar 25
Full year 2024 earnings released: EPS: ₪1.40 (vs ₪1.53 in FY 2023) Full year 2024 results: EPS: ₪1.40 (down from ₪1.53 in FY 2023). Revenue: ₪218.0m (up 27% from FY 2023). Net income: ₪6.82m (down 9.1% from FY 2023). Profit margin: 3.1% (down from 4.4% in FY 2023). The decrease in margin was driven by higher expenses. 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 5% per year, which means it has not declined as severely as earnings. Announcement • Mar 25
Aran Research & Development (1982) Ltd. announces Annual dividend, payable on April 07, 2025 Aran Research & Development (1982) Ltd. announced Annual dividend of ILS 0.8845 per share payable on April 07, 2025, ex-date on March 31, 2025 and record date on March 31, 2025. New Risk • Mar 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. 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: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (₪93.3m market cap, or US$25.5m). Buy Or Sell Opportunity • Aug 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.1% to ₪19.30. The fair value is estimated to be ₪24.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.9% over the last 3 years. Earnings per share has grown by 28%. Reported Earnings • Apr 01
Full year 2023 earnings released Full year 2023 results: Revenue: ₪171.9m (down 1.1% from FY 2022). Net income: ₪9.17m (down 61% from FY 2022). Profit margin: 5.3% (down from 14% in FY 2022). Announcement • Mar 29
Aran Research & Development (1982) Ltd., Annual General Meeting, May 06, 2024 Aran Research & Development (1982) Ltd., Annual General Meeting, May 06, 2024, at 12:30 Israel Standard Time. New Risk • Mar 11
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 Debt is not well covered by operating cash flow (2.4% operating cash flow to total debt). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). 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 (₪105.2m market cap, or US$29.2m). Board Change • Feb 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. 2 experienced directors. 4 highly experienced directors. Independent Director Yehuda Regev was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 03
First half 2022 earnings released: EPS: ₪2.67 (vs ₪1.24 in 1H 2021) First half 2022 results: EPS: ₪2.67 (up from ₪1.24 in 1H 2021). Revenue: ₪104.8m (down 1.7% from 1H 2021). Net income: ₪13.1m (up 116% from 1H 2021). Profit margin: 12% (up from 5.7% in 1H 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent 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. 5 highly experienced directors. 1 independent director (6 non-independent directors). Independent Director Giora Inbar was the last independent director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 18% share price gain to ₪24.47, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 18x in the Commercial Services industry in Asia. Total returns to shareholders of 76% over the past three years. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS ₪0.63 (vs ₪0.12 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₪54.7m (up 183% from 2Q 2020). Net income: ₪3.08m (up 435% from 2Q 2020). Profit margin: 5.6% (up from 3.0% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Mar 27
Full year 2020 earnings released: EPS ₪0.62 (vs ₪0.48 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₪96.0m (down 16% from FY 2019). Net income: ₪3.01m (up 29% from FY 2019). Profit margin: 3.1% (up from 2.0% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improved over the past week After last week's 19% share price gain to ₪18.04, the stock is trading at a trailing P/E ratio of 27.4x, up from the previous P/E ratio of 23.2x. This compares to an average P/E of 16x in the Commercial Services industry in Asia. Total returns to shareholders over the past three years are 21%. Is New 90 Day High Low • Dec 22
New 90-day high: ₪18.60 The company is up 42% from its price of ₪13.08 on 23 September 2020. The Israeli market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 15% over the same period. Reported Earnings • Dec 03
Third quarter 2020 earnings released: EPS ₪0.22 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ₪22.6m (down 11% from 3Q 2019). Net income: ₪1.00m (up 418% from 3Q 2019). Profit margin: 4.4% (up from 0.8% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 24
New 90-day high: ₪15.43 The company is up 15% from its price of ₪13.37 on 26 August 2020. The Israeli market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 03
New 90-day high: ₪14.95 The company is up 31% from its price of ₪11.39 on 05 August 2020. The Israeli market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 18% over the same period. Is New 90 Day High Low • Oct 15
New 90-day high: ₪14.24 The company is up 47% from its price of ₪9.71 on 16 July 2020. The Israeli market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Commercial Services industry, which is up 17% over the same period.