New Risk • Jun 01
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 126% Dividend yield: 1.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (1.9% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (126% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Mar 20
Full year 2025 earnings released: EPS: ₪38.99 (vs ₪32.21 in FY 2024) Full year 2025 results: EPS: ₪38.99 (up from ₪32.21 in FY 2024). Revenue: ₪2.27b (up 9.1% from FY 2024). Net income: ₪1.86b (up 21% from FY 2024). Profit margin: 82% (up from 74% in FY 2024). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • Mar 18
Price target increased by 11% to ₪476 Up from ₪429, the current price target is provided by 1 analyst. New target price is 7.3% above last closing price of ₪444. Stock is up 46% over the past year. The company posted earnings per share of ₪32.21 last year. Announcement • Feb 12
Melisron Ltd. to Report Q4, 2025 Results on Mar 17, 2026 Melisron Ltd. announced that they will report Q4, 2025 results on Mar 17, 2026 Announcement • Feb 04
Melisron Ltd., Annual General Meeting, Mar 10, 2026 Melisron Ltd., Annual General Meeting, Mar 10, 2026. Location: co. offices, Israel Reported Earnings • Nov 25
Third quarter 2025 earnings released: EPS: ₪6.00 (vs ₪6.54 in 3Q 2024) Third quarter 2025 results: EPS: ₪6.00 (down from ₪6.54 in 3Q 2024). Revenue: ₪602.0m (up 13% from 3Q 2024). Net income: ₪286.0m (down 8.0% from 3Q 2024). Profit margin: 48% (down from 59% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 17% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 07
Melisron Ltd. to Report Q3, 2025 Results on Nov 24, 2025 Melisron Ltd. announced that they will report Q3, 2025 results on Nov 24, 2025 Board Change • Aug 19
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 External Director Far Nadir was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 17
Second quarter 2025 earnings released: EPS: ₪9.18 (vs ₪7.55 in 2Q 2024) Second quarter 2025 results: EPS: ₪9.18 (up from ₪7.55 in 2Q 2024). Revenue: ₪548.0m (up 8.9% from 2Q 2024). Net income: ₪437.0m (up 22% from 2Q 2024). Profit margin: 80% (up from 71% in 2Q 2024). 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 12% per year, which means it is well ahead of earnings. Price Target Changed • Aug 16
Price target increased by 18% to ₪429 Up from ₪364, the current price target is provided by 1 analyst. New target price is 11% above last closing price of ₪388. Stock is up 41% over the past year. The company posted earnings per share of ₪32.21 last year. Announcement • Aug 04
Melisron Ltd. to Report Q2, 2025 Results on Aug 14, 2025 Melisron Ltd. announced that they will report Q2, 2025 results on Aug 14, 2025 Reported Earnings • May 22
First quarter 2025 earnings released: EPS: ₪4.98 (vs ₪5.14 in 1Q 2024) First quarter 2025 results: EPS: ₪4.98 (down from ₪5.14 in 1Q 2024). Revenue: ₪523.0m (up 13% from 1Q 2024). Net income: ₪237.0m (down 2.9% from 1Q 2024). Profit margin: 45% (down from 53% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • May 08
Melisron Ltd. to Report Q1, 2025 Results on May 21, 2025 Melisron Ltd. announced that they will report Q1, 2025 results on May 21, 2025 New Risk • Apr 29
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). 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. Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: ₪32.21 (vs ₪21.83 in FY 2023) Full year 2024 results: EPS: ₪32.21 (up from ₪21.83 in FY 2023). Revenue: ₪2.02b (up 9.7% from FY 2023). Net income: ₪1.53b (up 48% from FY 2023). Profit margin: 76% (up from 56% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Mar 11
Melisron Ltd., Annual General Meeting, Apr 22, 2025 Melisron Ltd., Annual General Meeting, Apr 22, 2025. Location: company offices, Israel Announcement • Feb 24
Melisron Ltd. to Report Q4, 2024 Results on Mar 10, 2025 Melisron Ltd. announced that they will report Q4, 2024 results on Mar 10, 2025 Reported Earnings • Nov 27
Third quarter 2024 earnings released: EPS: ₪6.54 (vs ₪2.51 in 3Q 2023) Third quarter 2024 results: EPS: ₪6.54 (up from ₪2.51 in 3Q 2023). Revenue: ₪526.0m (up 8.0% from 3Q 2023). Net income: ₪311.0m (up 161% from 3Q 2023). Profit margin: 59% (up from 24% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Nov 10
Melisron Ltd. to Report Q3, 2024 Results on Nov 24, 2024 Melisron Ltd. announced that they will report Q3, 2024 results on Nov 24, 2024 Buy Or Sell Opportunity • Nov 06
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to ₪305. The fair value is estimated to be ₪253, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years, while earnings per share has been flat. Announcement • Sep 13
Melisron Ltd. (TASE:MLSR) signed an agreement to acquire an remaining 50% stake in Aviv Development and Construction from Aviv Group for approximately ILS 620 million. Melisron Ltd. (TASE:MLSR) signed an agreement to acquire an remaining 50% stake in Aviv Development and Construction from Aviv Group for approximately ILS 620 million on September 12, 2024. It should be noted that Melisron intends to finance the purchase from its own sources. The completion of the transaction is subject to the fulfillment of the preconditions, which as of this date have not yet been fulfilled, and therefore there is no certainty regarding the completion of the transaction. Completion of the agreement is subject to preconditions, including the receipt of approval from the Competition Authority, third party approvals and the absence of legal impediments, the deadline for which is October 31, 2024 - and deadlines have been set regarding the postponement of the completion date in the event of a delay in obtaining regulatory approval or the receipt of the agreement of the parties). Reported Earnings • Aug 17
Second quarter 2024 earnings released: EPS: ₪7.55 (vs ₪6.78 in 2Q 2023) Second quarter 2024 results: EPS: ₪7.55 (up from ₪6.78 in 2Q 2023). Revenue: ₪495.0m (up 3.8% from 2Q 2023). Net income: ₪359.0m (up 12% from 2Q 2023). Profit margin: 73% (up from 68% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Announcement • Aug 01
Melisron Ltd. to Report Q2, 2024 Results on Aug 15, 2024 Melisron Ltd. announced that they will report Q2, 2024 results on Aug 15, 2024 Announcement • May 10
Melisron Ltd. to Report Q1, 2024 Results on May 22, 2024 Melisron Ltd. announced that they will report Q1, 2024 results on May 22, 2024 Price Target Changed • Mar 13
Price target increased by 15% to ₪352 Up from ₪306, the current price target is provided by 1 analyst. New target price is 35% above last closing price of ₪261. Stock is up 12% over the past year. The company posted earnings per share of ₪21.83 last year. Announcement • Mar 12
Melisron Ltd., Annual General Meeting, Apr 16, 2024 Melisron Ltd., Annual General Meeting, Apr 16, 2024, at 17:00 Israel Standard Time. Reported Earnings • Mar 11
Full year 2023 earnings released: EPS: ₪21.83 (vs ₪29.30 in FY 2022) Full year 2023 results: EPS: ₪21.83 (down from ₪29.30 in FY 2022). Revenue: ₪1.80b (up 2.3% from FY 2022). Net income: ₪1.04b (down 25% from FY 2022). Profit margin: 57% (down from 79% in FY 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Feb 25
Melisron Ltd. to Report Q4, 2023 Results on Mar 11, 2024 Melisron Ltd. announced that they will report Q4, 2023 results on Mar 11, 2024 Reported Earnings • Nov 25
Third quarter 2023 earnings released: EPS: ₪2.51 (vs ₪4.63 in 3Q 2022) Third quarter 2023 results: EPS: ₪2.51 (down from ₪4.63 in 3Q 2022). Revenue: ₪483.0m (up 8.5% from 3Q 2022). Net income: ₪119.0m (down 46% from 3Q 2022). Profit margin: 25% (down from 49% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
Melisron Ltd. to Report Q3, 2023 Results on Nov 22, 2023 Melisron Ltd. announced that they will report Q3, 2023 results on Nov 22, 2023 Price Target Changed • Oct 18
Price target increased by 13% to ₪338 Up from ₪300, the current price target is provided by 1 analyst. New target price is 55% above last closing price of ₪219. Stock is down 15% over the past year. The company posted earnings per share of ₪29.30 last year. Buying Opportunity • Oct 08
Now 28% undervalued after recent price drop Over the last 90 days, the stock is down 9.2%. The fair value is estimated to be ₪298, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 52%. Buying Opportunity • Sep 04
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be ₪298, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 52%. Upcoming Dividend • Aug 27
Upcoming dividend of ₪1.26 per share at 3.9% yield Eligible shareholders must have bought the stock before 03 September 2023. Payment date: 02 October 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Israeli dividend payers (7.0%). In line with average of industry peers (3.6%). New Risk • Aug 17
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: 59% Last year net profit margin: 103% 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 (2.3x net interest cover). 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. Profit margins are more than 30% lower than last year (59% net profit margin). Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ₪6.78 (vs ₪12.03 in 2Q 2022) Second quarter 2023 results: EPS: ₪6.78 (down from ₪12.03 in 2Q 2022). Revenue: ₪457.0m (down 3.2% from 2Q 2022). Net income: ₪322.0m (down 44% from 2Q 2022). Profit margin: 71% (down from 121% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Jul 25
Melisron Ltd. to Report Q2, 2023 Results on Aug 14, 2023 Melisron Ltd. announced that they will report Q2, 2023 results on Aug 14, 2023 Upcoming Dividend • May 28
Upcoming dividend of ₪1.26 per share at 4.0% yield Eligible shareholders must have bought the stock before 04 June 2023. Payment date: 03 July 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Israeli dividend payers (7.3%). In line with average of industry peers (3.8%). Reported Earnings • May 24
First quarter 2023 earnings released: EPS: ₪3.58 (vs ₪4.74 in 1Q 2022) First quarter 2023 results: EPS: ₪3.58 (down from ₪4.74 in 1Q 2022). Revenue: ₪436.0m (up 9.0% from 1Q 2022). Net income: ₪170.0m (down 24% from 1Q 2022). Profit margin: 39% (down from 56% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • May 23
Melisron Ltd. to Report Q1, 2023 Results on May 22, 2023 Melisron Ltd. announced that they will report Q1, 2023 results on May 22, 2023 Upcoming Dividend • Mar 23
Upcoming dividend of ₪5.47 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 April 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.9%. Lower than top quartile of Israeli dividend payers (8.9%). In line with average of industry peers (4.0%). Price Target Changed • Mar 16
Price target decreased by 9.1% to ₪270 Down from ₪297, the current price target is an average from 2 analysts. New target price is 17% above last closing price of ₪231. Stock is down 13% over the past year. The company posted earnings per share of ₪29.30 last year. Reported Earnings • Mar 15
Full year 2022 earnings released: EPS: ₪29.30 (vs ₪31.04 in FY 2021) Full year 2022 results: EPS: ₪29.30 (down from ₪31.04 in FY 2021). Revenue: ₪1.67b (up 11% from FY 2021). Net income: ₪1.39b (down 5.6% from FY 2021). Profit margin: 83% (down from 98% in FY 2021). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Dec 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 1.2%. The fair value is estimated to be ₪324, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Earnings per share has grown by 31%. Upcoming Dividend • Nov 27
Upcoming dividend of ₪1.26 per share Eligible shareholders must have bought the stock before 04 December 2022. Payment date: 12 December 2022. Trailing yield: 1.9%. Lower than top quartile of Israeli dividend payers (7.4%). Lower than average of industry peers (3.2%). Buying Opportunity • Oct 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.6%. The fair value is estimated to be ₪317, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 20%. Buying Opportunity • Aug 22
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be ₪358, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 20%. Upcoming Dividend • Aug 21
Upcoming dividend of ₪2.53 per share Eligible shareholders must have bought the stock before 28 August 2022. Payment date: 05 September 2022. The company last paid an ordinary dividend in August 2011. The average dividend yield among industry peers is 2.7%. Reported Earnings • Aug 18
Second quarter 2022 earnings released: EPS: ₪12.03 (vs ₪7.25 in 2Q 2021) Second quarter 2022 results: EPS: ₪12.03 (up from ₪7.25 in 2Q 2021). Revenue: ₪409.0m (up 5.7% from 2Q 2021). Net income: ₪571.0m (up 66% from 2Q 2021). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 16
Melisron Ltd. to Report Q2, 2022 Results on Aug 15, 2022 Melisron Ltd. announced that they will report Q2, 2022 results on Aug 15, 2022 Announcement • May 27
Melisron Ltd. (TASE:MLSR) acquired 50% stake in Aviv Development and Construction from Aviv Group for ILS 600 million. Melisron Ltd. (TASE:MLSR) acquired 50% stake in Aviv Development and Construction from Aviv Group for ILS 600 million on May 26, 2022. Melisron will pay ILS 600 million for its stake in Aviv, including an injection of ILS 450 million into the jointly-owned company with a further ILS 150 million payment to the existing shareholders.
Melisron Ltd. (TASE:MLSR) completed the acquisition of 50% stake in Aviv Development and Construction from Aviv Group for ILS 600 million on May 26, 2022. Reported Earnings • Mar 15
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₪31.04 (up from ₪5.27 loss in FY 2020). Revenue: ₪1.42b (up 28% from FY 2020). Net income: ₪1.47b (up ₪1.72b from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Feb 26
Melisron Ltd. to Report Q4, 2021 Results on Mar 14, 2022 Melisron Ltd. announced that they will report Q4, 2021 results on Mar 14, 2022 Reported Earnings • Aug 12
Second quarter 2021 earnings released: EPS ₪7.25 (vs ₪3.94 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₪371.0m (up 70% from 2Q 2020). Net income: ₪344.0m (up ₪531.0m from 2Q 2020). Profit margin: 93% (up from net loss in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Mar 14
Full year 2020 earnings released: ₪5.27 loss per share (vs ₪28.42 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: ₪1.12b (down 30% from FY 2019). Net loss: ₪250.0m (down 120% from profit in FY 2019). 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 8% per year, which means it is well ahead of earnings. Announcement • Feb 26
Melisron Ltd. to Report Fiscal Year 2020 Results on Mar 11, 2021 Melisron Ltd. announced that they will report fiscal year 2020 results on Mar 11, 2021 Is New 90 Day High Low • Dec 30
New 90-day high: ₪172 The company is up 53% from its price of ₪112 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 33% over the same period. Is New 90 Day High Low • Dec 15
New 90-day high: ₪170 The company is up 40% from its price of ₪122 on 15 September 2020. The Israeli market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 26% over the same period. Reported Earnings • Nov 19
Third quarter 2020 earnings released: EPS ₪1.64 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₪335.0m (down 18% from 3Q 2019). Net income: ₪78.0m (down 41% from 3Q 2019). Profit margin: 23% (down from 32% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 4% per year. Announcement • Nov 18
Melisron Ltd., Annual General Meeting, Dec 23, 2020 Melisron Ltd., Annual General Meeting, Dec 23, 2020. Announcement • Nov 16
Melisron Ltd. to Report Q3, 2020 Results on Nov 16, 2020 Melisron Ltd. announced that they will report Q3, 2020 results on Nov 16, 2020 Is New 90 Day High Low • Nov 09
New 90-day high: ₪153 The company is up 13% from its price of ₪136 on 11 August 2020. The Israeli market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 6.0% over the same period.