Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₪19.78, the stock trades at a trailing P/E ratio of 70.9x. Average trailing P/E is 52x in the Semiconductor industry in Asia. Total returns to shareholders of 75% over the past three years. Buy Or Sell Opportunity • Jun 15
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 57% to ₪20.91. The fair value is estimated to be ₪27.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.0% over the last 3 years. Earnings per share has declined by 66%. New Risk • Jun 04
New major risk - Revenue and earnings growth Earnings have declined by 3.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 3.6% per year over the past 5 years. New Risk • May 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₪289.5m (US$99.9m) 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 Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risk Market cap is less than US$100m (₪289.5m market cap, or US$99.9m). Valuation Update With 7 Day Price Move • May 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₪30.00, the stock trades at a trailing P/E ratio of 54.6x. Average trailing P/E is 53x in the Semiconductor industry in Asia. Total returns to shareholders of 180% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to ₪32.29, the stock trades at a trailing P/E ratio of 56.6x. Average trailing P/E is 45x in the Semiconductor industry in Asia. Total returns to shareholders of 208% over the past three years. New Risk • Apr 13
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. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 30
Third quarter 2025 earnings released: EPS: US$0.02 (vs US$0.06 loss in 3Q 2024) Third quarter 2025 results: EPS: US$0.02 (up from US$0.06 loss in 3Q 2024). Revenue: US$12.0m (up 68% from 3Q 2024). Net income: US$253.0k (up US$874.0k from 3Q 2024). Profit margin: 2.1% (up from net loss in 3Q 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 63% per year, which means it is well ahead of earnings. Announcement • Oct 29
CI Systems (Israel) Ltd., Annual General Meeting, Dec 04, 2025 CI Systems (Israel) Ltd., Annual General Meeting, Dec 04, 2025. Location: company offices, Israel Reported Earnings • Jun 02
First quarter 2025 earnings released: EPS: US$0.04 (vs US$0.001 in 1Q 2024) First quarter 2025 results: EPS: US$0.04 (up from US$0.001 in 1Q 2024). Revenue: US$10.3m (up 31% from 1Q 2024). Net income: US$469.0k (up US$455.0k from 1Q 2024). Profit margin: 4.6% (up from 0.2% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 50% per year, which means it is well ahead of earnings. Reported Earnings • Apr 02
Full year 2024 earnings released: EPS: US$0.03 (vs US$0.48 in FY 2023) Full year 2024 results: EPS: US$0.03 (down from US$0.48 in FY 2023). Revenue: US$33.6m (down 8.7% from FY 2023). Net income: US$344.0k (down 93% from FY 2023). Profit margin: 1.0% (down from 14% in FY 2023). The decrease in margin was primarily driven by lower revenue. 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 49% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₪25.88, the stock trades at a trailing P/E ratio of 69.4x. Average trailing P/E is 31x in the Semiconductor industry in Asia. Total returns to shareholders of 275% over the past three years. Valuation Update With 7 Day Price Move • Feb 26
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₪27.96, the stock trades at a trailing P/E ratio of 76.9x. Average trailing P/E is 33x in the Semiconductor industry in Asia. Total returns to shareholders of 318% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪23.85, the stock trades at a trailing P/E ratio of 65.3x. Average trailing P/E is 32x in the Semiconductor industry in Asia. Total returns to shareholders of 256% over the past three years. New Risk • Feb 04
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 11% 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 (11% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (3.3% net profit margin). Market cap is less than US$100m (₪171.3m market cap, or US$48.1m). Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪16.28, the stock trades at a trailing P/E ratio of 44.7x. Average trailing P/E is 33x in the Semiconductor industry in Asia. Total returns to shareholders of 125% over the past three years. Reported Earnings • Nov 28
Third quarter 2024 earnings released: US$0.06 loss per share (vs US$0.02 profit in 3Q 2023) Third quarter 2024 results: US$0.06 loss per share (down from US$0.02 profit in 3Q 2023). Revenue: US$7.14m (down 3.6% from 3Q 2023). Net loss: US$621.0k (down 348% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 22% per year. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪13.89, the stock trades at a trailing P/E ratio of 20.2x. Average trailing P/E is 33x in the Semiconductor industry in Asia. Total returns to shareholders of 103% over the past three years. Announcement • Nov 02
CI Systems (Israel) Ltd., Annual General Meeting, Dec 05, 2024 CI Systems (Israel) Ltd., Annual General Meeting, Dec 05, 2024. Location: co. offices, Israel Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: US$0.01 (vs US$0.14 in 2Q 2023) Second quarter 2024 results: EPS: US$0.01 (down from US$0.14 in 2Q 2023). Revenue: US$8.17m (down 20% from 2Q 2023). Net income: US$69.0k (down 96% from 2Q 2023). Profit margin: 0.8% (down from 15% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. New Risk • Jun 13
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: 9.7% Last year net profit margin: 15% 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: Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Profit margins are more than 30% lower than last year (9.7% net profit margin). Market cap is less than US$100m (₪188.2m market cap, or US$50.7m). Reported Earnings • Mar 31
Full year 2023 earnings released: EPS: US$0.48 (vs US$0.41 in FY 2022) Full year 2023 results: EPS: US$0.48 (up from US$0.41 in FY 2022). Revenue: US$36.8m (up 4.6% from FY 2022). Net income: US$5.05m (up 16% from FY 2022). Profit margin: 14% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. 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 41% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₪18.51, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 30x in the Semiconductor industry in Asia. Total returns to shareholders of 218% over the past three years. Reported Earnings • Dec 02
Third quarter 2023 earnings released: EPS: US$0.02 (vs US$0.12 in 3Q 2022) Third quarter 2023 results: EPS: US$0.02 (down from US$0.12 in 3Q 2022). Revenue: US$7.40m (down 21% from 3Q 2022). Net income: US$250.0k (down 81% from 3Q 2022). Profit margin: 3.4% (down from 14% in 3Q 2022). The decrease in margin was driven by lower revenue. 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 30% per year, which means it is significantly lagging earnings growth. Reported Earnings • Sep 02
Second quarter 2023 earnings released: EPS: US$0.14 (vs US$0.08 in 2Q 2022) Second quarter 2023 results: EPS: US$0.14 (up from US$0.08 in 2Q 2022). Revenue: US$10.2m (up 19% from 2Q 2022). Net income: US$1.53m (up 76% from 2Q 2022). Profit margin: 15% (up from 10% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Board Change • Feb 20
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 26
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 16
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. 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 05
Investor sentiment improved over the past week After last week's 15% share price gain to ₪11.01, the stock trades at a trailing P/E ratio of 19.1x. Average trailing P/E is 16x in the Semiconductor industry in Asia. Total returns to shareholders of 129% over the past three years. Reported Earnings • Sep 03
Second quarter 2022 earnings released: EPS: US$0.08 (vs US$0.06 in 2Q 2021) Second quarter 2022 results: EPS: US$0.08 (up from US$0.06 in 2Q 2021). Revenue: US$8.59m (up 20% from 2Q 2021). Net income: US$866.0k (up 40% from 2Q 2021). Profit margin: 10% (up from 8.7% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 30% per year whereas the company’s share price has increased by 27% per year. Board Change • Aug 08
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 30
Full year 2021 earnings released: EPS: US$0.11 (vs US$0.091 in FY 2020) Full year 2021 results: EPS: US$0.11 (up from US$0.091 in FY 2020). Revenue: US$26.2m (up 6.7% from FY 2020). Net income: US$1.12m (up 17% from FY 2020). Profit margin: 4.3% (up from 3.9% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Mar 07
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 19
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. 4 experienced directors. 2 highly experienced directors. 2 independent directors (4 non-independent directors). External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. 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 • Dec 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₪7.66, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 25x in the Semiconductor industry in Asia. Total returns to shareholders of 25% over the past three years. Reported Earnings • Nov 28
Third quarter 2021 earnings: Revenues and EPS in line with analyst expectations Third quarter 2021 results: US$0.01 loss per share (down from US$0.007 profit in 3Q 2020). Revenue: US$5.16m (down 7.6% from 3Q 2020). Net loss: US$158.0k (down 311% from profit in 3Q 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Sep 30
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. 4 non-independent directors. External Independent Director Yosef Shamar Shmilovitch was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 04
Full year 2020 earnings released: EPS US$0.09 (vs US$0.075 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: US$24.6m (up 6.2% from FY 2019). Net income: US$960.0k (up 20% from FY 2019). Profit margin: 3.9% (up from 3.4% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Dec 05
Third quarter 2020 earnings released: EPS US$0.007 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$5.58m (up 22% from 3Q 2019). Net income: US$75.0k (up US$503.0k from 3Q 2019). Profit margin: 1.3% (up from net loss in 3Q 2019). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings.