New Risk • Apr 19
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 6.5% 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 Risk Debt is not well covered by operating cash flow (6.5% operating cash flow to total debt). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (₪95.5m market cap, or US$32.2m). Reported Earnings • Apr 07
Full year 2025 earnings released: ₪3.12 loss per share (vs ₪5.75 profit in FY 2024) Full year 2025 results: ₪3.12 loss per share (down from ₪5.75 profit in FY 2024). Revenue: ₪16.8m (down 82% from FY 2024). Net loss: ₪19.5m (down 154% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. New Risk • Apr 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 8.1% 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 Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). 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 (8.1% average weekly change). Market cap is less than US$100m (₪94.3m market cap, or US$30.1m). Announcement • Apr 02
Themis G.R.E.N. Ltd, Annual General Meeting, Apr 23, 2026 Themis G.R.E.N. Ltd, Annual General Meeting, Apr 23, 2026. Location: co. offices, Israel 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 cash flows (110% cash payout ratio). Market cap is less than US$100m (₪78.4m market cap, or US$24.9m). New Risk • Oct 03
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 7.9% 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 Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risks Dividend is not well covered by cash flows (110% cash payout ratio). Market cap is less than US$100m (₪63.2m market cap, or US$19.1m). Buy Or Sell Opportunity • Sep 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to ₪11.15. The fair value is estimated to be ₪14.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 97% over the last 3 years. Meanwhile, the company became loss making. Announcement • Sep 05
Themis G.R.E.N. Ltd, Annual General Meeting, Oct 15, 2025 Themis G.R.E.N. Ltd, Annual General Meeting, Oct 15, 2025. Location: company offices, Israel Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪14.88, the stock trades at a trailing P/E ratio of 2.6x. Average trailing P/E is 20x in the Consumer Durables industry in Israel. Total returns to shareholders of 127% over the past three years. Reported Earnings • Mar 29
Full year 2024 earnings released: EPS: ₪5.75 (vs ₪0.79 loss in FY 2023) Full year 2024 results: EPS: ₪5.75 (up from ₪0.79 loss in FY 2023). Revenue: ₪95.8m (up ₪94.9m from FY 2023). Net income: ₪35.9m (up ₪40.8m from FY 2023). Profit margin: 37% (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 increased by 113% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₪14.77, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 18x in the Consumer Durables industry in Israel. Total returns to shareholders of 64% over the past three years. New Risk • Mar 09
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: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Dividend is not well covered by earnings (94% payout ratio). Market cap is less than US$100m (₪77.4m market cap, or US$21.4m). Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪14.92, the stock trades at a trailing P/E ratio of 2.8x. Average trailing P/E is 21x in the Consumer Durables industry in Israel. Total returns to shareholders of 130% over the past three years. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪12.94, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 23x in the Consumer Durables industry in Israel. Total returns to shareholders of 88% over the past three years. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪11.34, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 19x in the Consumer Durables industry in Israel. Total returns to shareholders of 134% over the past three years. Buy Or Sell Opportunity • Aug 28
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 22% to ₪9.40. The fair value is estimated to be ₪12.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 135% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Aug 27
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₪15.71, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 18x in the Consumer Durables industry in Israel. Total returns to shareholders of 112% over the past three years. Announcement • Aug 22
Themis G.R.E.N. Ltd, Annual General Meeting, Sep 15, 2024 Themis G.R.E.N. Ltd, Annual General Meeting, Sep 15, 2024. Location: co. offices, Israel Buy Or Sell Opportunity • Jul 02
Now 33% undervalued after recent price drop Over the last 90 days, the stock has fallen 18% to ₪10.48. The fair value is estimated to be ₪15.61, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 128% over the last 3 years. Earnings per share has declined by 6.3%. Buy Or Sell Opportunity • Jun 19
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 27% to ₪10.69. The fair value is estimated to be ₪15.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 128% over the last 3 years. Earnings per share has declined by 6.3%. Buy Or Sell Opportunity • May 02
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ₪12.61. The fair value is estimated to be ₪15.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 128% over the last 3 years. Earnings per share has declined by 6.3%. Reported Earnings • Mar 13
Full year 2023 earnings released: ₪0.79 loss per share (vs ₪1.69 loss in FY 2022) Full year 2023 results: ₪0.79 loss per share (improved from ₪1.69 loss in FY 2022). Net loss: ₪4.90m (loss narrowed 54% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 4% per year. New Risk • Mar 08
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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 38% per year over the past 5 years. Revenue is less than US$1m (₪1.1m revenue, or US$316k). Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Market cap is less than US$100m (₪81.7m market cap, or US$22.9m). Board Change • Nov 01
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, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Gil Keret is the most experienced director on the board, commencing their role in 2016. Independent External Director Dalit Wichselbaum was the last independent director to join the board, commencing their role in 2022. 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. Board Change • Jul 19
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, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Gil Keret is the most experienced director on the board, commencing their role in 2016. Independent External Director Dalit Wichselbaum was the last independent director to join the board, commencing their role in 2022. 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. Board Change • Apr 27
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, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Gil Keret is the most experienced director on the board, commencing their role in 2016. Independent External Director Dalit Wichselbaum was the last independent director to join the board, commencing their role in 2022. 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. Board Change • Apr 13
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, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Gil Keret is the most experienced director on the board, commencing their role in 2016. Independent External Director Dalit Wichselbaum was the last independent director to join the board, commencing their role in 2022. 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 • Apr 05
Full year 2022 earnings released: ₪1.69 loss per share (vs ₪0.67 loss in FY 2021) Full year 2022 results: ₪1.69 loss per share (further deteriorated from ₪0.67 loss in FY 2021). Net loss: ₪10.5m (loss widened 154% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 3% per year. Board Change • Nov 16
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, 2 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent External Director Gil Keret is the most experienced director on the board, commencing their role in 2016. Independent External Director Dalit Wichselbaum was the last independent director to join the board, commencing their role in 2022. 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. Buying Opportunity • Sep 08
Now 20% undervalued Over the last 90 days, the stock is up 22%. The fair value is estimated to be ₪15.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 66% over the last 3 years. Earnings per share has grown by 7.3%. Reported Earnings • Aug 23
First half 2022 earnings released: ₪1.38 loss per share (vs ₪0.31 loss in 1H 2021) First half 2022 results: ₪1.38 loss per share (down from ₪0.31 loss in 1H 2021). Net loss: ₪8.60m (loss widened 342% from 1H 2021). 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 15% per year, which means it is significantly lagging earnings. Buying Opportunity • Jun 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be ₪13.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 56% over the last 3 years. Earnings per share has grown by 3.0%. Buying Opportunity • May 12
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be ₪13.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 56% over the last 3 years. Earnings per share has grown by 3.0%. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Independent External Director Avi Dushnik was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 31
Full year 2021 earnings released: ₪0.67 loss per share (vs ₪0.56 loss in FY 2020) Full year 2021 results: ₪0.67 loss per share (down from ₪0.56 loss in FY 2020). Net loss: ₪4.15m (loss widened 20% from FY 2020). 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 15% per year, which means it is significantly lagging earnings. Buying Opportunity • Mar 08
Now 21% undervalued Over the last 90 days, the stock is up 55%. The fair value is estimated to be ₪17.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 88% per annum over the last 3 years. The company became loss making over the last 3 years. Board Change • Sep 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Independent External Director Avi Dushnik was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 27
Full year 2020 earnings released: ₪0.56 loss per share (vs ₪2.06 loss in FY 2019) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2020 results: Revenue: ₪40.8m (up 105% from FY 2019). Net loss: ₪3.47m (loss narrowed 73% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 25
New 90-day high: ₪16.12 The company is up 26% from its price of ₪12.77 on 25 October 2020. The Israeli market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 19% over the same period.