New Risk • Jul 19
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: 33% Last year net profit margin: 142% 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: Major Risk Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (33% net profit margin). Shareholders have been diluted in the past year (29% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₪3.22, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 14x in the Real Estate industry in Israel. Total loss to shareholders of 98% over the past three years. Buy Or Sell Opportunity • Jun 29
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at ₪3.18. The fair value is estimated to be ₪2.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 60% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Jun 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (29% increase in shares outstanding). Market cap is less than US$100m (₪287.0m market cap, or US$95.9m). Buy Or Sell Opportunity • Jun 02
Now 21% overvalued Over the last 90 days, the stock has fallen 6.8% to ₪3.20. The fair value is estimated to be ₪2.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 60% over the last 3 years. Meanwhile, the company has become profitable. New Risk • Apr 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 29% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (29% increase in shares outstanding). Buy Or Sell Opportunity • Jan 06
Now 21% overvalued Over the last 90 days, the stock has fallen 19% to ₪3.47. The fair value is estimated to be ₪2.87, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 60% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Dec 02
Third quarter 2025 earnings released: EPS: ₪0.08 (vs ₪296 in 3Q 2024) Third quarter 2025 results: EPS: ₪0.08 (down from ₪296 in 3Q 2024). Revenue: ₪25.3m (down 30% from 3Q 2024). Net income: ₪5.93m (down 99% from 3Q 2024). Profit margin: 23% (down from 1,305% in 3Q 2024). Announcement • Oct 06
Cielo-Blu Group Ltd, Annual General Meeting, Nov 09, 2025 Cielo-Blu Group Ltd, Annual General Meeting, Nov 09, 2025. Location: barnea law offices, Israel Reported Earnings • May 31
First quarter 2025 earnings released First quarter 2025 results: EPS: ₪0.06. Revenue: ₪31.7m (down 56% from 1Q 2024). Net income: ₪4.74m (up ₪110.9m from 1Q 2024). Profit margin: 15% (up from net loss in 1Q 2024). New Risk • Apr 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 290% 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 Share price has been highly volatile over the past 3 months (8.3% average weekly change). Shareholders have been substantially diluted in the past year (over 44x increase in shares outstanding). Minor Risks High level of debt (116% net debt to equity). Large one-off items impacting financial results. Market cap is less than US$100m (₪342.3m market cap, or US$92.7m). New Risk • Apr 16
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 8.4% 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 Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Shareholders have been substantially diluted in the past year (over 44x increase in shares outstanding). Minor Risks High level of debt (97% net debt to equity). Market cap is less than US$100m (₪355.3m market cap, or US$96.3m). Reported Earnings • Apr 02
Full year 2024 earnings released Full year 2024 results: Revenue: ₪228.3m (down 43% from FY 2023). Net income: ₪325.1m (up ₪1.19b from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 32 percentage points per year, which is a significant difference in performance. New Risk • Feb 20
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₪341.9m (US$96.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 61% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 44x increase in shares outstanding). Minor Risk Market cap is less than US$100m (₪341.9m market cap, or US$96.3m). Announcement • Jan 27
Cielo-Blu Group Ltd, Annual General Meeting, Mar 03, 2025 Cielo-Blu Group Ltd, Annual General Meeting, Mar 03, 2025. Location: co. offices, Israel Reported Earnings • Dec 08
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ₪36.1m (down 53% from 3Q 2023). Net income: ₪470.5m (up ₪891.6m from 3Q 2023). New Risk • Sep 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 29x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Negative equity (-₪363m). Earnings have declined by 65% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 29x increase in shares outstanding). Minor Risk Market cap is less than US$100m (₪110.4m market cap, or US$29.7m). Reported Earnings • Sep 05
Second quarter 2024 earnings released: ₪0.03 loss per share (vs ₪1.20 profit in 2Q 2023) Second quarter 2024 results: ₪0.03 loss per share (down from ₪1.20 profit in 2Q 2023). Revenue: ₪56.1m (down 42% from 2Q 2023). Net loss: ₪52.1m (down ₪54.4m from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 6 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 13
First quarter 2024 earnings released: ₪0.01 loss per share (vs ₪0.66 profit in 1Q 2023) First quarter 2024 results: ₪0.01 loss per share (down from ₪0.66 profit in 1Q 2023). Revenue: ₪72.5m (down 39% from 1Q 2023). Net loss: ₪106.1m (down ₪117.5m from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 9 percentage points per year, which is a significant difference in performance. New Risk • Apr 15
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₪35.0m (US$9.35m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.02x net interest cover). Share price has been highly volatile over the past 3 months (13% average weekly change). Negative equity (-₪126m). Earnings have declined by 37% per year over the past 5 years. Market cap is less than US$10m (₪35.0m market cap, or US$9.35m). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Apr 14
Full year 2023 earnings released: ₪0.05 loss per share (vs ₪6.71 profit in FY 2022) Full year 2023 results: ₪0.05 loss per share (down from ₪6.71 profit in FY 2022). Revenue: ₪400.3m (down 51% from FY 2022). Net loss: ₪869.4m (down ₪987.0m from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has fallen by 62% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Feb 22
Now 26% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.7% to ₪2.75. The fair value is estimated to be ₪3.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Jan 21
Now 27% overvalued Over the last 90 days, the stock has fallen 43% to ₪4.32. The fair value is estimated to be ₪3.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 35% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jan 08
Third quarter 2023 earnings released: ₪24.01 loss per share (vs ₪1.87 profit in 3Q 2022) Third quarter 2023 results: ₪24.01 loss per share (down from ₪1.87 profit in 3Q 2022). Revenue: ₪76.1m (down 65% from 3Q 2022). Net loss: ₪421.1m (down ₪453.9m from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Nov 06
Now 40% undervalued after recent price drop Over the last 90 days, the stock is down 87%. The fair value is estimated to be ₪3.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 50% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₪8.96, the stock trades at a trailing P/E ratio of 3x. Average trailing P/E is 8x in the Real Estate industry in Israel. Total loss to shareholders of 62% over the past three years. Reported Earnings • Sep 02
Second quarter 2023 earnings released: EPS: ₪0.12 (vs ₪2.95 in 2Q 2022) Second quarter 2023 results: EPS: ₪0.12 (down from ₪2.95 in 2Q 2022). Revenue: ₪96.4m (down 56% from 2Q 2022). Net income: ₪2.29m (down 96% from 2Q 2022). Profit margin: 2.4% (down from 24% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪18.14, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 8x in the Real Estate industry in Israel. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₪13.59, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 8x in the Real Estate industry in Israel. Total loss to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₪13.19, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 8x in the Real Estate industry in Israel. Total loss to shareholders of 39% over the past three years. Reported Earnings • Jun 03
First quarter 2023 earnings released: EPS: ₪0.66 (vs ₪1.53 in 1Q 2022) First quarter 2023 results: EPS: ₪0.66 (down from ₪1.53 in 1Q 2022). Revenue: ₪119.7m (down 45% from 1Q 2022). Net income: ₪11.4m (down 58% from 1Q 2022). Profit margin: 9.5% (down from 12% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₪13.86, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 7x in the Real Estate industry in Israel. Total loss to shareholders of 26% over the past three years. Reported Earnings • Apr 02
Full year 2022 earnings released: EPS: ₪6.70 (vs ₪11.95 in FY 2021) Full year 2022 results: EPS: ₪6.70 (down from ₪11.95 in FY 2021). Revenue: ₪815.5m (up 30% from FY 2021). Net income: ₪117.6m (down 35% from FY 2021). Profit margin: 14% (down from 29% in FY 2021). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪23.43, the stock trades at a trailing P/E ratio of 2x. Average trailing P/E is 6x in the Real Estate industry in Israel. Total loss to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₪25.21, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 6x in the Real Estate industry in Israel. Total loss to shareholders of 8.2% over the past three years. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₪25.91, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 6x in the Real Estate industry in Israel. Total loss to shareholders of 3.7% over the past three years. Reported Earnings • Dec 01
Third quarter 2022 earnings released: EPS: ₪1.87 (vs ₪4.02 in 3Q 2021) Third quarter 2022 results: EPS: ₪1.87 (down from ₪4.02 in 3Q 2021). Revenue: ₪214.8m (up 31% from 3Q 2021). Net income: ₪32.9m (down 45% from 3Q 2021). Profit margin: 15% (down from 36% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 98% per year but the company’s share price has only increased by 16% 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. 2 experienced directors. 3 highly experienced directors. Independent Director Israel Yaakovi was the last director to join the board, commencing their role in 2016. 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 • Oct 02
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₪29.40, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 7x in the Real Estate industry in Israel. Total returns to shareholders of 9.4% over the past three years. Reported Earnings • Sep 02
Second quarter 2022 earnings released: EPS: ₪2.95 (vs ₪1.79 in 2Q 2021) Second quarter 2022 results: EPS: ₪2.95 (up from ₪1.79 in 2Q 2021). Revenue: ₪218.4m (up 148% from 2Q 2021). Net income: ₪51.7m (up 96% from 2Q 2021). Profit margin: 24% (down from 30% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₪33.66, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 8x in the Real Estate industry in Israel. Total returns to shareholders of 92% over the past three years. Upcoming Dividend • May 30
Upcoming dividend of ₪0.07 per share Eligible shareholders must have bought the stock before 06 June 2022. Payment date: 13 June 2022. Payout ratio is a comfortable 2.2% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Israeli dividend payers (5.9%). Lower than average of industry peers (3.0%). Reported Earnings • May 29
First quarter 2022 earnings released: EPS: ₪1.53 (vs ₪0.09 in 1Q 2021) First quarter 2022 results: EPS: ₪1.53 (up from ₪0.09 in 1Q 2021). Revenue: ₪217.2m (up 243% from 1Q 2021). Net income: ₪27.0m (up ₪25.6m from 1Q 2021). Profit margin: 12% (up from 2.2% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 02
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₪46.85, the stock trades at a trailing P/E ratio of 4.6x. Average trailing P/E is 9x in the Real Estate industry in Israel. Total returns to shareholders of 160% over the past three years. Board Change • Apr 27
No independent 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. No independent directors (5 non-independent directors). External Director Israel Yaakovi was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Upcoming Dividend • Mar 22
Upcoming dividend of ₪0.23 per share Eligible shareholders must have bought the stock before 29 March 2022. Payment date: 06 April 2022. Payout ratio is a comfortable 2.8% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Israeli dividend payers (5.3%). Lower than average of industry peers (2.5%). Reported Earnings • Mar 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₪11.95 (up from ₪0.43 loss in FY 2020). Revenue: ₪628.6m (up 212% from FY 2020). Net income: ₪180.0m (up ₪185.9m from FY 2020). Profit margin: 29% (up from net loss in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₪47.44, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 15x in the Real Estate industry in Israel. Total returns to shareholders of 202% over the past three years. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment improved over the past week After last week's 17% share price gain to ₪55.37, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 15x in the Real Estate industry in Israel. Total returns to shareholders of 240% over the past three years. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS ₪1.79 (vs ₪0.12 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₪88.2m (up 119% from 2Q 2020). Net income: ₪26.4m (up ₪28.0m from 2Q 2020). Profit margin: 30% (up from net loss in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Reported Earnings • May 27
First quarter 2021 earnings released: EPS ₪0.09 (vs ₪0.52 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₪63.4m (up 115% from 1Q 2020). Net income: ₪1.37m (up ₪8.52m from 1Q 2020). Profit margin: 2.2% (up from net loss in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Jan 18
New 90-day high: ₪40.15 The company is up 67% from its price of ₪24.07 on 20 October 2020. The Israeli market is up 24% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 33% over the same period. Is New 90 Day High Low • Dec 31
New 90-day high: ₪36.05 The company is up 58% from its price of ₪22.76 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 Real Estate industry, which is up 36% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: ₪32.88 The company is up 44% from its price of ₪22.81 on 08 September 2020. The Israeli market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 12
New 90-day high: ₪25.00 The company is up 3.0% from its price of ₪24.22 on 13 August 2020. The Israeli market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 15% over the same period.