New Risk • Jun 16
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₪290.8m (US$99.6m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₪290.8m market cap, or US$99.6m). Declared Dividend • May 29
Dividend of ₪0.046 announced Shareholders will receive a dividend of ₪0.046. Ex-date: 3rd June 2026 Payment date: 15th June 2026 Dividend yield will be 7.4%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (30% earnings payout ratio) and cash flows (32% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • May 26
First quarter 2026 earnings released: EPS: ₪0.063 (vs ₪0.055 in 1Q 2025) First quarter 2026 results: EPS: ₪0.063 (up from ₪0.055 in 1Q 2025). Revenue: ₪261.8m (down 7.3% from 1Q 2025). Net income: ₪13.9m (up 18% from 1Q 2025). Profit margin: 5.3% (up from 4.2% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Declared Dividend • Mar 15
Dividend of ₪0.046 announced Shareholders will receive a dividend of ₪0.046. Ex-date: 19th March 2026 Payment date: 29th March 2026 Dividend yield will be 8.1%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 13
Full year 2025 earnings released: EPS: ₪0.17 (vs ₪0.22 in FY 2024) Full year 2025 results: EPS: ₪0.17 (down from ₪0.22 in FY 2024). Revenue: ₪999.8m (down 5.4% from FY 2024). Net income: ₪38.1m (down 21% from FY 2024). Profit margin: 3.8% (down from 4.5% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Feb 26
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₪311.2m (US$100.0m) 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₪311.2m market cap, or US$100.0m). Announcement • Dec 12
Suny Cellular Communication Ltd, Annual General Meeting, Dec 31, 2025 Suny Cellular Communication Ltd, Annual General Meeting, Dec 31, 2025. Location: co. offices, Israel Reported Earnings • Nov 23
Third quarter 2025 earnings released: EPS: ₪0.04 (vs ₪0.04 in 3Q 2024) Third quarter 2025 results: EPS: ₪0.04 (in line with 3Q 2024). Revenue: ₪249.8m (down 2.8% from 3Q 2024). Net income: ₪8.05m (down 8.4% from 3Q 2024). Profit margin: 3.2% (down from 3.4% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • Aug 31
Second quarter 2025 earnings released: EPS: ₪0.04 (vs ₪0.039 in 2Q 2024) Second quarter 2025 results: EPS: ₪0.04. Revenue: ₪228.7m (down 8.7% from 2Q 2024). Net income: ₪8.26m (down 2.9% from 2Q 2024). Profit margin: 3.6% (up from 3.4% in 2Q 2024). The increase in margin was driven by lower expenses. Declared Dividend • May 21
Dividend of ₪0.046 announced Shareholders will receive a dividend of ₪0.046. Ex-date: 29th May 2025 Payment date: 8th June 2025 Dividend yield will be 11%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is well covered by both earnings (46% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has decreased over the past 46 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Upcoming Dividend • Mar 16
Upcoming dividend of ₪0.055 per share Eligible shareholders must have bought the stock before 23 March 2025. Payment date: 09 April 2025. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 7.0%. Within top quartile of Israeli dividend payers (6.0%). Higher than average of industry peers (2.5%). Reported Earnings • Mar 12
Full year 2024 earnings released: EPS: ₪0.22 (vs ₪0.10 in FY 2023) Full year 2024 results: EPS: ₪0.22 (up from ₪0.10 in FY 2023). Revenue: ₪1.06b (up 24% from FY 2023). Net income: ₪48.0m (up 115% from FY 2023). Profit margin: 4.5% (up from 2.6% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₪1.35, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 13x in the Electronic industry in Israel. Total returns to shareholders of 39% over the past three years. Announcement • Nov 28
Suny Cellular Communication Ltd, Annual General Meeting, Dec 31, 2024 Suny Cellular Communication Ltd, Annual General Meeting, Dec 31, 2024. Location: co. offices, Israel Reported Earnings • Nov 23
Third quarter 2024 earnings released: EPS: ₪0.04 (vs ₪0.01 in 3Q 2023) Third quarter 2024 results: EPS: ₪0.04 (up from ₪0.01 in 3Q 2023). Revenue: ₪257.0m (up 17% from 3Q 2023). Net income: ₪8.79m (up 293% from 3Q 2023). Profit margin: 3.4% (up from 1.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: ₪0.039 (vs ₪0.027 in 2Q 2023) Second quarter 2024 results: EPS: ₪0.039 (up from ₪0.027 in 2Q 2023). Revenue: ₪250.6m (up 29% from 2Q 2023). Net income: ₪8.51m (up 46% from 2Q 2023). Profit margin: 3.4% (up from 3.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 02
Upcoming dividend of ₪0.046 per share Eligible shareholders must have bought the stock before 09 June 2024. Payment date: 17 June 2024. Payout ratio is on the higher end at 98% but the company is not cash flow positive. Trailing yield: 48%. Within top quartile of Israeli dividend payers (7.0%). Higher than average of industry peers (4.3%). Reported Earnings • Mar 11
Full year 2023 earnings released: EPS: ₪0.10 (vs ₪0.34 in FY 2022) Full year 2023 results: EPS: ₪0.10 (down from ₪0.34 in FY 2022). Revenue: ₪853.7m (down 10% from FY 2022). Net income: ₪22.3m (down 70% from FY 2022). Profit margin: 2.6% (down from 7.7% in FY 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Dec 06
Suny Cellular Communication Ltd, Annual General Meeting, Jan 08, 2024 Suny Cellular Communication Ltd, Annual General Meeting, Jan 08, 2024, at 16:00 Israel Standard Time. New Risk • Dec 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 71% 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Dividend per share is over 18x cash flows per share. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (3.5% net profit margin). Market cap is less than US$100m (₪199.9m market cap, or US$53.9m). New Risk • Aug 22
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 98% The company is paying a dividend despite having no free cash flows. Dividend yield: 52% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (4.6% net profit margin). Market cap is less than US$100m (₪230.3m market cap, or US$60.9m). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₪1.07, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 9x in the Electronic industry in Israel. Total returns to shareholders of 94% over the past three years. 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: 4.6% Last year net profit margin: 8.1% 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 Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.6% net profit margin). Market cap is less than US$100m (₪292.2m market cap, or US$77.4m). Reported Earnings • Aug 17
Second quarter 2023 earnings released: EPS: ₪0.027 (vs ₪0.15 in 2Q 2022) Second quarter 2023 results: EPS: ₪0.027 (down from ₪0.15 in 2Q 2022). Revenue: ₪194.5m (down 20% from 2Q 2022). Net income: ₪5.83m (down 82% from 2Q 2022). Profit margin: 3.0% (down from 13% 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 only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 21
First quarter 2023 earnings released: EPS: ₪0.047 (vs ₪0.074 in 1Q 2022) First quarter 2023 results: EPS: ₪0.047 (down from ₪0.074 in 1Q 2022). Revenue: ₪239.8m (down 5.3% from 1Q 2022). Net income: ₪10.2m (down 37% from 1Q 2022). Profit margin: 4.2% (down from 6.4% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 16
Upcoming dividend of ₪0.14 per share at 22% yield Eligible shareholders must have bought the stock before 23 March 2023. Payment date: 02 April 2023. Payout ratio is a comfortable 53% and the cash payout ratio is 95%. Trailing yield: 22%. Within top quartile of Israeli dividend payers (8.4%). Higher than average of industry peers (6.2%). Reported Earnings • Mar 14
Full year 2022 earnings released: EPS: ₪0.34 (vs ₪0.12 in FY 2021) Full year 2022 results: EPS: ₪0.34 (up from ₪0.12 in FY 2021). Revenue: ₪953.3m (up 4.2% from FY 2021). Net income: ₪73.2m (up 175% from FY 2021). Profit margin: 7.7% (up from 2.9% in FY 2021). Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has only increased by 28% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 5 highly experienced directors. 2 independent directors (6 non-independent directors). Independent External Director Yossi Peled was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Aug 15
Upcoming dividend of ₪0.092 per share Eligible shareholders must have bought the stock before 22 August 2022. Payment date: 30 August 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 9.7%. Within top quartile of Israeli dividend payers (6.0%). Higher than average of industry peers (5.0%). Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: ₪0.15 (vs ₪0.063 loss in 2Q 2021) Second quarter 2022 results: EPS: ₪0.15 (up from ₪0.063 loss in 2Q 2021). Revenue: ₪243.6m (up 11% from 2Q 2021). Net income: ₪32.1m (up ₪45.7m from 2Q 2021). Profit margin: 13% (up from net loss in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 15
First quarter 2022 earnings released: EPS: ₪0.074 (vs ₪0.058 in 1Q 2021) First quarter 2022 results: EPS: ₪0.074 (up from ₪0.058 in 1Q 2021). Revenue: ₪253.3m (down 2.0% from 1Q 2021). Net income: ₪16.2m (up 28% from 1Q 2021). Profit margin: 6.4% (up from 4.9% in 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Independent External Director Yossi Peled was the last independent director to join the board, commencing their role in 2015. 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 17
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ₪0.12 (up from ₪0.087 in FY 2020). Revenue: ₪915.0m (up 1.0% from FY 2020). Net income: ₪26.6m (up 40% from FY 2020). Profit margin: 2.9% (up from 2.1% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 27
Second quarter 2021 earnings released The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: ₪219.8m (up 4.6% from 2Q 2020). Net loss: ₪13.6m (down ₪14.7m from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 30
Full year 2020 earnings released: EPS ₪0.087 (vs ₪0.085 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ₪906.0m (down 23% from FY 2019). Net income: ₪19.0m (up 2.4% from FY 2019). Profit margin: 2.1% (up from 1.6% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 21% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 01
New 90-day low: ₪1.08 The company is down 5.0% from its price of ₪1.13 on 01 December 2020. The Israeli market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ₪1.24 The company is up 48% from its price of ₪0.84 on 14 October 2020. The Israeli market is up 24% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 13% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: ₪1.20 The company is up 38% from its price of ₪0.87 on 29 September 2020. The Israeli market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 21% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: ₪1.17 The company is up 34% from its price of ₪0.88 on 01 September 2020. The Israeli market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 20% over the same period. Reported Earnings • Nov 27
Third quarter 2020 earnings released: EPS ₪0.042 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2020 results: Revenue: ₪273.6m (down 17% from 3Q 2019). Net income: ₪9.02m (up 26% from 3Q 2019). Profit margin: 3.3% (up from 2.2% in 3Q 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Nov 04
Market bids up stock over the past week After last week's 16% share price gain to ₪1.11, the stock is trading at a trailing P/E ratio of 11.9x, up from the previous P/E ratio of 10.3x. This compares to an average P/E of 17x in the Electronic industry in Israel. Total return to shareholders over the past three years is a loss of 55%. Valuation Update With 7 Day Price Move • Nov 02
Market bids up stock over the past week After last week's 18% share price gain to ₪1.08, the stock is trading at a trailing P/E ratio of 11.6x, up from the previous P/E ratio of 9.8x. This compares to an average P/E of 17x in the Electronic industry in Israel. Total return to shareholders over the past three years is a loss of 55%. Valuation Update With 7 Day Price Move • Oct 29
Market bids up stock over the past week After last week's 17% share price gain to ₪1.01, the stock is trading at a trailing P/E ratio of 10.7x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 17x in the Electronic industry in Israel. Total return to shareholders over the past three years is a loss of 58%. Is New 90 Day High Low • Oct 27
New 90-day high: ₪0.97 The company is up 13% from its price of ₪0.87 on 29 July 2020. The Israeli market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 10.0% over the same period. Is New 90 Day High Low • Oct 07
New 90-day low: ₪0.83 The company is down 9.0% from its price of ₪0.92 on 09 July 2020. The Israeli market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electronic industry, which is up 11% over the same period.