Reported Earnings • May 24
First quarter 2026 earnings released: EPS: ₪0.43 (vs ₪0.35 in 1Q 2025) First quarter 2026 results: EPS: ₪0.43 (up from ₪0.35 in 1Q 2025). Revenue: ₪1.01b (down 8.9% from 1Q 2025). Net income: ₪72.0m (up 20% from 1Q 2025). Profit margin: 7.1% (up from 5.4% in 1Q 2025). 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 38% per year, which means it is significantly lagging earnings growth. Price Target Changed • Apr 23
Price target increased by 24% to ₪46.00 Up from ₪37.00, the current price target is provided by 1 analyst. New target price is 37% above last closing price of ₪33.57. Stock is up 41% over the past year. The company posted earnings per share of ₪3.35 last year. Upcoming Dividend • Mar 27
Upcoming dividend of ₪1.19 per share Eligible shareholders must have bought the stock before 03 April 2026. Payment date: 16 April 2026. Payout ratio is a comfortable 71% and this is well supported by cash flows. Trailing yield: 6.8%. Within top quartile of Israeli dividend payers (5.6%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 19
Full year 2025 earnings released: EPS: ₪3.35 (vs ₪1.04 in FY 2024) Full year 2025 results: EPS: ₪3.35 (up from ₪1.04 in FY 2024). Revenue: ₪4.24b (down 4.5% from FY 2024). Net income: ₪564.0m (up 226% from FY 2024). Profit margin: 13% (up from 3.9% in FY 2024). Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 36% per year. Price Target Changed • Mar 19
Price target increased by 11% to ₪39.50 Up from ₪35.50, the current price target is an average from 2 analysts. New target price is 5.3% above last closing price of ₪37.50. Stock is up 59% over the past year. The company is forecast to post earnings per share of ₪3.30 for next year compared to ₪1.04 last year. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪42.21, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 20x in the Wireless Telecom industry in Asia. Total returns to shareholders of 200% over the past three years. Announcement • Feb 25
Cellcom Israel Ltd. to Report Fiscal Year 2025 Results on Mar 18, 2026 Cellcom Israel Ltd. announced that they will report fiscal year 2025 results at 9:46 AM, Israel Standard Time on Mar 18, 2026 New Risk • Dec 03
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 3.1% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. 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: Minor Risks High level of debt (54% net debt to equity). Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (6.1% average weekly change). Reported Earnings • Nov 27
Third quarter 2025 earnings released: EPS: ₪0.45 (vs ₪0.34 in 3Q 2024) Third quarter 2025 results: EPS: ₪0.45 (up from ₪0.34 in 3Q 2024). Revenue: ₪1.03b (down 7.4% from 3Q 2024). Net income: ₪76.0m (up 36% from 3Q 2024). Profit margin: 7.4% (up from 5.0% in 3Q 2024). The increase in margin was driven by lower expenses. 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 24% per year. New Risk • Nov 27
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 6.0% 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. Currently, the following risks have been identified for the company: Minor Risks High level of debt (54% net debt to equity). Share price has been volatile over the past 3 months (6.0% average weekly change). Price Target Changed • Nov 25
Price target increased by 15% to ₪35.50 Up from ₪31.00, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₪35.12. Stock is up 91% over the past year. The company is forecast to post earnings per share of ₪1.44 for next year compared to ₪1.04 last year. Announcement • Nov 10
Cellcom Israel Ltd. to Report Q3, 2025 Results on Nov 25, 2025 Cellcom Israel Ltd. announced that they will report Q3, 2025 results at 9:46 AM, Israel Standard Time on Nov 25, 2025 Price Target Changed • Aug 16
Price target increased by 15% to ₪31.00 Up from ₪27.00, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of ₪30.02. Stock is up 98% over the past year. The company is forecast to post earnings per share of ₪1.26 for next year compared to ₪1.04 last year. Announcement • Jul 29
Cellcom Israel Ltd. to Report Q2, 2025 Results on Aug 13, 2025 Cellcom Israel Ltd. announced that they will report Q2, 2025 results on Aug 13, 2025 Announcement • Jun 27
Phoenix Financial Ltd (TASE:PHOE) and More Investment House Ltd. agreed to acquire 23% stake in IBC Unlimited from Cellcom Israel Ltd. (TASE:CEL) for ILS 520 million. Phoenix Financial Ltd (TASE:PHOE) and More Investment House Ltd. agreed to acquire 23% stake in IBC Unlimited from Cellcom Israel Ltd. (TASE:CEL) for ILS 520 million on June 26, 2025. A cash consideration of ILS 520 million will be paid by Phoenix Financial Ltd and More Investment House Ltd. As part of consideration, ILS 520 million is paid towards common equity of IBC Unlimited. In a related transaction Hot and Israel Infrastructure Fund (IFC) agreed to sell their stake in IBC Unlimited to a group consisting of Phoenix Financial Ltd and More Investment House Ltd. The transaction is subject to approval from the Ministry of Communications and other authorities. The expected cash flow impact on Cellcom's statements will be the amount of the sale proceeds, net of tax. In this way, Cellcom will be able to reduce its net debt, which at the end of the first quarter stood at about ILS 1.6 billion. If the transaction to sell the shares is not completed within 10 months from the date of the agreement, either party may cancel it. Reported Earnings • May 22
First quarter 2025 earnings released: EPS: ₪0.35 (vs ₪0.042 in 1Q 2024) First quarter 2025 results: EPS: ₪0.35 (up from ₪0.042 in 1Q 2024). Revenue: ₪1.11b (down 1.9% from 1Q 2024). Net income: ₪60.0m (up ₪53.0m from 1Q 2024). Profit margin: 5.4% (up from 0.6% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • May 07
Cellcom Israel Ltd. to Report Q1, 2025 Results on May 21, 2025 Cellcom Israel Ltd. announced that they will report Q1, 2025 results on May 21, 2025 Reported Earnings • Mar 20
Full year 2024 earnings released Full year 2024 results: Revenue: ₪4.44b (up 1.0% from FY 2023). Net income: ₪173.0m (up 29% from FY 2023). Profit margin: 3.9% (up from 3.0% in FY 2023). Announcement • Mar 03
Cellcom Israel Ltd. to Report Fiscal Year 2024 Results on Mar 19, 2025 Cellcom Israel Ltd. announced that they will report fiscal year 2024 results on Mar 19, 2025 Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₪23.24, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 19x in the Wireless Telecom industry in Asia. Total returns to shareholders of 29% over the past three years. New Risk • Jan 01
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 5.8% 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. Currently, the following risks have been identified for the company: Minor Risks High level of debt (72% net debt to equity). Share price has been volatile over the past 3 months (5.8% average weekly change). Price Target Changed • Nov 27
Price target increased by 8.9% to ₪21.50 Up from ₪19.75, the current price target is an average from 2 analysts. New target price is 17% above last closing price of ₪18.42. Stock is up 43% over the past year. The company is forecast to post earnings per share of ₪1.01 for next year compared to ₪0.81 last year. Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: ₪0.34 (vs ₪0.32 in 3Q 2023) Third quarter 2024 results: EPS: ₪0.34 (up from ₪0.32 in 3Q 2023). Revenue: ₪1.12b (flat on 3Q 2023). Net income: ₪56.0m (up 5.7% from 3Q 2023). Profit margin: 5.0% (up from 4.7% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Nov 21
Cellcom Israel Ltd., Annual General Meeting, Dec 26, 2024 Cellcom Israel Ltd., Annual General Meeting, Dec 26, 2024. Location: offices of the company, 10 ha`gavish street, netanya, Israel Announcement • Nov 07
Cellcom Israel Ltd. to Report Q3, 2024 Results on Nov 20, 2024 Cellcom Israel Ltd. announced that they will report Q3, 2024 results on Nov 20, 2024 Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ₪0.33 (vs ₪0.03 in 2Q 2023) Second quarter 2024 results: EPS: ₪0.33 (up from ₪0.03 in 2Q 2023). Revenue: ₪1.10b (up 2.8% from 2Q 2023). Net income: ₪55.0m (up ₪50.0m from 2Q 2023). Profit margin: 5.0% (up from 0.5% in 2Q 2023). The increase in margin was primarily driven by higher revenue. 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 7% per year, which means it is significantly lagging earnings growth. Announcement • Jul 23
Cellcom Israel Ltd. to Report Q2, 2024 Results on Aug 08, 2024 Cellcom Israel Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Board Change • Jun 29
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent External Director Shmuel Hauser was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. New Risk • Jun 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 29% 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: Minor Risks High level of debt (81% net debt to equity). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.2% net profit margin). Reported Earnings • May 21
First quarter 2024 earnings released: EPS: ₪0.04 (vs ₪0.26 in 1Q 2023) First quarter 2024 results: EPS: ₪0.04 (down from ₪0.26 in 1Q 2023). Revenue: ₪1.14b (up 5.7% from 1Q 2023). Net income: ₪7.00m (down 84% from 1Q 2023). Profit margin: 0.6% (down from 4.0% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • May 08
Cellcom Israel Ltd. to Report Q1, 2024 Results on May 21, 2024 Cellcom Israel Ltd. announced that they will report Q1, 2024 results on May 21, 2024 Reported Earnings • Mar 17
Full year 2023 earnings released: EPS: ₪0.81 (vs ₪0.96 in FY 2022) Full year 2023 results: EPS: ₪0.81 (down from ₪0.96 in FY 2022). Revenue: ₪4.40b (up 2.3% from FY 2022). Net income: ₪134.0m (down 15% from FY 2022). Profit margin: 3.0% (down from 3.7% in FY 2022). The decrease in margin was driven by higher expenses. 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 7% per year, which means it is significantly lagging earnings growth. Announcement • Dec 07
Fortissimo Capital in Talks to Buy Controlling Share of Cellcom Private equity fund Fortissimo Capital (Fortissimo Capital Management Ltd.) is negotiating to buy a controlling share of Israeli telecom group Cellcom Israel Ltd. (TASE:CEL) from Discount Investment Corporation Ltd. (TASE:DISI), according to a regulatory filing in Tel Aviv on December 5, 2023. Discount said that it has entered a non-binding agreement to sell Fortissimo its 35.6% stake in Cellcom for ILS 925 million ($249 million), valuing the company at ILS 2.6 billion. Its stake is currently worth ILS 793 million. Fortissimo has two weeks to carry out due diligence and a final deal would be subject to regulatory approvals, Discount said. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₪13.48, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 19x in the Wireless Telecom industry in Asia. Total loss to shareholders of 10% over the past three years. Reported Earnings • Nov 18
Third quarter 2023 earnings released: EPS: ₪0.32 (vs ₪0.25 in 3Q 2022) Third quarter 2023 results: EPS: ₪0.32 (up from ₪0.25 in 3Q 2022). Revenue: ₪1.13b (flat on 3Q 2022). Net income: ₪53.0m (up 29% from 3Q 2022). Profit margin: 4.7% (up from 3.7% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Nov 15
Cellcom Israel Ltd., Annual General Meeting, Dec 21, 2023 Cellcom Israel Ltd., Annual General Meeting, Dec 21, 2023, at 15:00 Israel Standard Time. Location: the offices of the Company, 10 Ha'gavish Street Netanya Israel Agenda: To consider the Company's audited financial statements for the year ended December 31, 2022; to consider appointment of KOST FORER GABBAY & KASIERER, a member of Ernst & Young, as the Company's independent auditors; and to consider reappointment of Nataly Mishan Zakai (Chairman), Gustavo Traiber (independent director), Michael Joseph Salkind and Baruch Itzhak as directors of the Company and appointing Mr. Samy Backlash as a director of the Company. Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₪10.67, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 18x in the Wireless Telecom industry in Asia. Total loss to shareholders of 19% over the past three years. Announcement • Nov 02
Cellcom Israel Ltd. to Report Q3, 2023 Results on Nov 15, 2023 Cellcom Israel Ltd. announced that they will report Q3, 2023 results on Nov 15, 2023 Reported Earnings • Aug 12
Second quarter 2023 earnings released: EPS: ₪0.03 (vs ₪0.23 in 2Q 2022) Second quarter 2023 results: EPS: ₪0.03 (down from ₪0.23 in 2Q 2022). Revenue: ₪1.07b (flat on 2Q 2022). Net income: ₪5.00m (down 87% from 2Q 2022). Profit margin: 0.5% (down from 3.6% in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jul 23
Cellcom Israel Ltd. to Report Q2, 2023 Results on Aug 10, 2023 Cellcom Israel Ltd. announced that they will report Q2, 2023 results on Aug 10, 2023 Price Target Changed • May 31
Price target decreased by 13% to ₪19.50 Down from ₪22.50, the current price target is an average from 2 analysts. New target price is 34% above last closing price of ₪14.54. Stock is down 15% over the past year. The company is forecast to post earnings per share of ₪0.96 for next year compared to ₪0.96 last year. Price Target Changed • May 22
Price target decreased by 8.3% to ₪22.00 Down from ₪24.00, the current price target is an average from 2 analysts. New target price is 56% above last closing price of ₪14.09. Stock is down 16% over the past year. The company is forecast to post earnings per share of ₪0.96 for next year compared to ₪0.96 last year. Reported Earnings • May 18
First quarter 2023 earnings released: EPS: ₪0.26 (vs ₪0.17 in 1Q 2022) First quarter 2023 results: EPS: ₪0.26 (up from ₪0.17 in 1Q 2022). Revenue: ₪1.08b (up 2.5% from 1Q 2022). Net income: ₪43.0m (up 54% from 1Q 2022). Profit margin: 4.0% (up from 2.7% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 11
Full year 2022 earnings released: EPS: ₪0.96 (vs ₪0.17 in FY 2021) Full year 2022 results: EPS: ₪0.96 (up from ₪0.17 in FY 2021). Revenue: ₪4.30b (up 4.9% from FY 2021). Net income: ₪157.0m (up 482% from FY 2021). Profit margin: 3.7% (up from 0.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 10
Price target decreased by 8.8% to ₪22.50 Down from ₪24.67, the current price target is an average from 2 analysts. New target price is 55% above last closing price of ₪14.51. Stock is down 12% over the past year. The company is forecast to post earnings per share of ₪0.85 for next year compared to ₪0.17 last year. Board Change • Jan 19
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 1 independent director (5 non-independent directors). Independent External Director Gustavo Traiber is the most experienced director on the board, commencing their role in 2019. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Price Target Changed • Dec 02
Price target raised to ₪17.75 Up from ₪16.00, the current price target is provided by 1 analyst. The new target price is 18% above the current share price of ₪15.01. As of last close, the stock is up 56% over the past year. Reported Earnings • Nov 25
Third quarter 2020 earnings released: ₪0.23 loss per share The company reported a soft third quarter result with increased losses and weaker control over expenses, although revenues were improved. Third quarter 2020 results: Revenue: ₪956.0m (up 3.0% from 3Q 2019). Net loss: ₪37.0m (loss widened ₪36.0m from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 102% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 16
New 90-day high: ₪15.46 The company is up 20% from its price of ₪12.86 on 18 August 2020. The Israeli market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is down 2.0% over the same period. Is New 90 Day High Low • Oct 20
New 90-day high: ₪14.14 The company is up 7.0% from its price of ₪13.20 on 22 July 2020. The Israeli market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Wireless Telecom industry, which is down 1.0% over the same period.