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TASE

Tel-Aviv Stock Exchange TASE:TASE Stock Report

Last Price

₪17.40

Market Cap

₪1.8b

7D

3.8%

1Y

-8.6%

Updated

07 Aug, 2022

Data

Company Financials +
TASE fundamental analysis
Snowflake Score
Valuation0/6
Future Growth3/6
Past Performance4/6
Financial Health6/6
Dividends2/6

TASE Stock Overview

The Tel-Aviv Stock Exchange Ltd. manages securities stock exchange and related activities in Israel.

Rewards

Earnings are forecast to grow 16.66% per year

Earnings have grown 6% per year over the past 5 years

Risk Analysis

No risks detected for TASE from our risk checks.

Tel-Aviv Stock Exchange Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Tel-Aviv Stock Exchange
Historical stock prices
Current Share Price₪17.40
52 Week High₪20.74
52 Week Low₪14.20
Beta0.44
1 Month Change7.41%
3 Month Change18.77%
1 Year Change-8.61%
3 Year Change86.10%
5 Year Changen/a
Change since IPO90.16%

Recent News & Updates

Mar 25
Tel-Aviv Stock Exchange's (TLV:TASE) Upcoming Dividend Will Be Larger Than Last Year's

Tel-Aviv Stock Exchange's (TLV:TASE) Upcoming Dividend Will Be Larger Than Last Year's

The Tel-Aviv Stock Exchange Ltd.'s ( TLV:TASE ) dividend will be increasing to ₪0.22 on 7th of April. Despite this...

Shareholder Returns

TASEIL Capital MarketsIL Market
7D3.8%0.6%-0.4%
1Y-8.6%0.7%13.6%

Return vs Industry: TASE underperformed the IL Capital Markets industry which returned 0.7% over the past year.

Return vs Market: TASE underperformed the IL Market which returned 13.6% over the past year.

Price Volatility

Is TASE's price volatile compared to industry and market?
TASE volatility
TASE Average Weekly Movement5.2%
Capital Markets Industry Average Movement4.6%
Market Average Movement5.4%
10% most volatile stocks in IL Market8.9%
10% least volatile stocks in IL Market3.7%

Stable Share Price: TASE is not significantly more volatile than the rest of IL stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: TASE's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1935258Ittai Ben-Zeevhttps://www.tase.co.il

The Tel-Aviv Stock Exchange Ltd. manages securities stock exchange and related activities in Israel. The company offers markets for the listing and trading of a range of securities and derivative instruments, including shares, corporate bonds, government bonds, treasury bills, ETFs, convertible securities, single stock options, options, and futures.

Tel-Aviv Stock Exchange Fundamentals Summary

How do Tel-Aviv Stock Exchange's earnings and revenue compare to its market cap?
TASE fundamental statistics
Market Cap₪1.77b
Earnings (TTM)₪50.53m
Revenue (TTM)₪342.96m

35.1x

P/E Ratio

5.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TASE income statement (TTM)
Revenue₪342.96m
Cost of Revenue₪0
Gross Profit₪342.96m
Other Expenses₪292.44m
Earnings₪50.53m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 08, 2022

Earnings per share (EPS)0.50
Gross Margin100.00%
Net Profit Margin14.73%
Debt/Equity Ratio0%

How did TASE perform over the long term?

See historical performance and comparison

Dividends

1.3%

Current Dividend Yield

45%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is TASE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for TASE?

Other financial metrics that can be useful for relative valuation.

TASE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue4x
Enterprise Value/EBITDA14.7x
PEG Ratio2.1x

Price to Earnings Ratio vs Peers

How does TASE's PE Ratio compare to its peers?

TASE PE Ratio vs Peers
The above table shows the PE ratio for TASE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average19.3x
TREN Trendline Information and Communication Services
45.7xn/a₪120.2m
GNRS Generation Capital
5.7xn/a₪1.6b
IBI I.B.I Investment House
15.3xn/a₪1.2b
ATRY Atreyu Capital Markets
10.3xn/a₪903.9m
TASE Tel-Aviv Stock Exchange
35.1x16.7%₪1.8b

Price-To-Earnings vs Peers: TASE is expensive based on its Price-To-Earnings Ratio (35.1x) compared to the peer average (19.3x).


Price to Earnings Ratio vs Industry

How does TASE's PE Ratio compare vs other companies in the Asian Capital Markets Industry?

Price-To-Earnings vs Industry: TASE is expensive based on its Price-To-Earnings Ratio (35.1x) compared to the IL Capital Markets industry average (11.7x)


Price to Earnings Ratio vs Fair Ratio

What is TASE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TASE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate TASE's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of TASE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TASE (₪17.4) is trading above our estimate of fair value (₪6.09)

Significantly Below Fair Value: TASE is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Tel-Aviv Stock Exchange forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


16.7%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TASE's forecast earnings growth (16.7% per year) is above the savings rate (1.5%).

Earnings vs Market: TASE's earnings (16.7% per year) are forecast to grow faster than the IL market (3.2% per year).

High Growth Earnings: TASE's earnings are forecast to grow, but not significantly.

Revenue vs Market: TASE's revenue (7.5% per year) is forecast to grow faster than the IL market (5.6% per year).

High Growth Revenue: TASE's revenue (7.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if TASE's Return on Equity is forecast to be high in 3 years time


Discover growth companies

Past Performance

How has Tel-Aviv Stock Exchange performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


6.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TASE has high quality earnings.

Growing Profit Margin: TASE's current net profit margins (14.7%) are higher than last year (12.1%).


Past Earnings Growth Analysis

Earnings Trend: TASE has become profitable over the past 5 years, growing earnings by 6% per year.

Accelerating Growth: TASE's earnings growth over the past year (39.1%) exceeds its 5-year average (6% per year).

Earnings vs Industry: TASE earnings growth over the past year (39.1%) underperformed the Capital Markets industry 42.7%.


Return on Equity

High ROE: TASE's Return on Equity (7.5%) is considered low.


Discover strong past performing companies

Financial Health

How is Tel-Aviv Stock Exchange's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: TASE's short term assets (₪1.0B) exceed its short term liabilities (₪720.2M).

Long Term Liabilities: TASE's short term assets (₪1.0B) exceed its long term liabilities (₪116.6M).


Debt to Equity History and Analysis

Debt Level: TASE is debt free.

Reducing Debt: TASE has not had any debt for past 5 years.

Debt Coverage: TASE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: TASE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet


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Dividend

What is Tel-Aviv Stock Exchange current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.28%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: TASE's dividend (1.28%) isn’t notable compared to the bottom 25% of dividend payers in the IL market (1.91%).

High Dividend: TASE's dividend (1.28%) is low compared to the top 25% of dividend payers in the IL market (6.36%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, TASE has been paying a dividend for less than 10 years.

Growing Dividend: TASE's dividend payments have increased, but the company has only paid a dividend for 2 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (44.8%), TASE's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (30.7%), TASE's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.6yrs

Average management tenure


CEO

Ittai Ben-Zeev (47 yo)

5.58yrs

Tenure

Mr. Ittai Ben-Zeev is Chief Executive Officer of Tel - Aviv Stock Exchange Ltd. since January 1, 2017. Prior to joining TASE, Mr. Ben-Zeev served as Executive Vice President, Head of Capital Markets Divisi...


Leadership Team

Experienced Management: TASE's management team is seasoned and experienced (5.6 years average tenure).


Board Members

Experienced Board: TASE's board of directors are considered experienced (3.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

The Tel-Aviv Stock Exchange Ltd.'s employee growth, exchange listings and data sources


Key Information

  • Name: The Tel-Aviv Stock Exchange Ltd.
  • Ticker: TASE
  • Exchange: TASE
  • Founded: 1935
  • Industry: Financial Exchanges and Data
  • Sector: Diversified Financials
  • Implied Market Cap: ₪1.774b
  • Shares outstanding: 101.97m
  • Website: https://www.tase.co.il

Number of Employees


Location

  • The Tel-Aviv Stock Exchange Ltd.
  • 2 Ahuzat Bayit Street
  • Tel Aviv
  • 6525216
  • Israel

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/04 00:00
Earnings2022/03/31
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.