Company Valuation: Adgar Investments and Development Ltd

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 968.2 1,327 853.7 844.1 962.6 780.4
Change - 37.1% -35.69% -1.13% 14.04% -18.92%
Enterprise Value (EV) 1 3,749 4,214 4,048 4,309 4,487 4,021
Change - 12.4% -3.94% 6.44% 4.12% -10.39%
P/E -26.3x 6.6x -158x 8.84x -135x 6.4x
PBR 0.77x 0.97x 0.63x 0.57x 0.69x 0.49x
PEG - -0x 2x -0x 1x -0x
Capitalization / Revenue 4.02x 5.01x 3.05x 2.63x 2.85x 2.31x
EV / Revenue 15.6x 15.9x 14.5x 13.4x 13.3x 11.9x
EV / EBITDA 20x 20.3x 19.4x 18.5x 18.1x 16.4x
EV / EBIT 21.1x 21.4x 20.6x 19.6x 19.1x 17.4x
EV / FCF 27.2x -85.1x 54.6x 162x -43.5x 73.2x
FCF Yield 3.68% -1.18% 1.83% 0.62% -2.3% 1.37%
Dividend per Share 2 0.2752 0.3283 0.355 - - 0.1059
Rate of return 4.65% 4.05% 6.8% - - 2.24%
EPS 2 -0.2249 1.23 -0.0331 0.5793 -0.0432 0.74
Distribution rate -122% 26.7% -1,072% - - 14.3%
Net sales 1 240.7 264.7 279.7 320.8 338 338.3
EBITDA 1 187.8 207.8 208.1 233.2 248.4 244.9
EBIT 1 177.4 196.7 196.5 220.3 235 231
Net income 1 -34.26 202.2 -5.434 95.5 -7.128 128.1
Net Debt 1 2,781 2,887 3,195 3,465 3,524 3,240
Reference price 2 5.920 8.115 5.218 5.120 5.839 4.734
Nbr of stocks (in thousands) 163,545 163,576 163,606 164,856 164,856 164,856
Announcement Date 3/11/21 A 3/15/22 A 3/19/23 A 3/26/24 A 3/30/25 A 3/24/26 A
1ILS in Million2ILS
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 214M
15.33x13.63x22.29x4.16% 2.34B
19.67x13.87x19.52x2.61% 2.28B
10.4x12.97x16.29x6.85% 2.06B
-50.76x15.67x17.99x2.16% 1.91B
13.4x6.56x18.72x4.33% 993M
52.79x3.04x4.69x - 967M
Average 10.14x 10.96x 16.58x 4.02% 1.54B
Weighted average by Cap. 6.59x 12.29x 17.79x 3.99%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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