Recent News
On May 10, 2026 the company announced consummation of the sale of its indirect holdings in Dorad Energy Ltd., with a final purchase price reported at approximately NIS 559.8 million (transaction details disclosed via Form 6‑K on May 11, 2026).
Technical Analysis
ADX at 25.44 indicates a strong market trend exists; strength alone does not define direction but confirms momentum has entered a tradable band relative to prior range.
DI+ at 18.49 has peaked and reversed, which reads as a bearish directional signal, while DI- at 29.22 is decreasing, which reads as bullish; the combination produces a conflicted directional bias, favoring consolidation until one side reasserts.
MACD sits negative at -0.75 but has turned higher and crossed above its signal line (-0.92), creating a bullish momentum read despite the negative absolute level — this supports potential short-term upside if momentum holds.
MRO at -6.31 indicates price remains below the WMDST target (negative MRO), which tends to support upward pressure toward target levels; the recent MRO dip-and-reverse reinforces that potential.
RSI 37.12 with a dip-and-reversal pattern signals recent oversold conditions showing initial signs of recovery rather than fresh weakness.
Price sits at $18.55 below the 50‑day ($21.11) and 200‑day ($23.10) averages and near the lower Bollinger band range (lower 1σ $18.25), indicating price consolidation around lower volatility levels and limited near-term upside until moving averages are tested.
Ichimoku components place the cloud well above price (Senkou A $24.08 / Senkou B $24.62), with the Tenkan ($18.70) and Kijun ($20.20) highlighting resistance around $20.2; combined with a super trend upper at $20.32, upside faces defined technical resistance into the low $20s.
Fundamental Analysis
Revenue rose sharply year-over-year: YoY revenue growth of 354.05% contrasts with a QoQ decline of 9.10%, showing large sequential volatility tied to project and asset timing; total revenue for the period equals $8,665,000.
Profitability remains negative across the P&L: EBIT margin -55.42% (EBIT -$4,802,000) and gross margin -10.71%, well below the industry peer mean and median (industry peer mean EBIT margin 33.011% / median 25.798%). QoQ and YoY EBIT margin changes registered steep declines: EBIT margin QoQ -94.18% and YoY -151.75%.
Cash flow metrics show stress in operating cash flow (-$1,944,000) and negative free cash flow (-$14,133,000) with a free cash flow yield of -4.24%, weaker than the industry peer mean. Beginning and ending cash holdings total $87,614,000 and $83,697,000 respectively, giving near-term liquidity buffer despite negative cash conversion from operations.
Leverage and capital structure skew toward high indebtedness: total debt $680,306,000, net debt $559,418,000 versus market capitalization $333,312,546; debt to assets stands at 76.84% and debt to equity at 506.24%, both above typical peer measures and reflecting a materially leveraged balance sheet. Debt-to-EBITDA registers a large negative figure due to negative EBITDA.
Asset efficiency registers very low: asset turnover at 1.00% (0.01002) sits below the industry peer low, despite a marked QoQ spike; this points to capital intensity and slow revenue conversion from existing asset base.
Valuation and WMDST view: the current valuation as determined by WMDST classifies the stock as over‑valued. Key valuation pressure derives from an elevated price-to-sales ratio (P/S 38.47), price-to-book 2.48 (above the industry peer mean of 1.37 and near the peer median of 2.34), negative margins, and net debt exceeding market capitalization; these fundamental factors underpin the over‑valued assessment.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-06-29 |
| NEXT REPORT DATE: | 2026-09-28 |
| CASH FLOW | Begin Period Cash Flow | $ 87.6 M |
| Operating Cash Flow | $ -1.94 M | |
| Capital Expenditures | $ -12.19 M | |
| Change In Working Capital | $ -636.00 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -3.92 M | |
| End Period Cash Flow | $ 83.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 8.7 M | |
| Forward Revenue | — | |
| COSTS | ||
| Cost Of Revenue | $ 9.6 M | |
| Depreciation | $ 4.5 M | |
| Depreciation and Amortization | $ 4.5 M | |
| Research and Development | $ 375.0 K | |
| Total Operating Expenses | $ 11.4 M | |
| PROFITABILITY | ||
| Gross Profit | $ -928.00 K | |
| EBITDA | $ -287.00 K | |
| EBIT | $ -4.80 M | |
| Operating Income | $ -2.70 M | |
| Interest Income | $ 616.0 K | |
| Interest Expense | $ 6.1 M | |
| Net Interest Income | $ -8.71 M | |
| Income Before Tax | $ -10.92 M | |
| Tax Provision | $ 1.6 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -10.44 M | |
| Net Income From Continuing Operations | $ -12.22 M | |
| EARNINGS | ||
| EPS Estimate | — | |
| EPS Actual | — | |
| EPS Difference | — | |
| EPS Surprise | — | |
| Forward EPS | — | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 885.4 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 134.4 M | |
| Total Current Assets | $ 194.1 M | |
| Cash and Short-Term Investments | $ 83.7 M | |
| Cash | $ 83.7 M | |
| Net Receivables | $ 8.5 M | |
| Inventory | — | |
| Long-Term Investments | $ 16.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 5.4 M | |
| Short-Term Debt | $ 105.0 M | |
| Total Current Liabilities | $ 138.4 M | |
| Net Debt | $ 559.4 M | |
| Total Debt | $ 680.3 M | |
| Total Liabilities | $ 726.5 M | |
| EQUITY | ||
| Total Equity | $ 134.4 M | |
| Retained Earnings | $ -24.14 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 9.75 | |
| Shares Outstanding | 13.783 M | |
| Revenue Per-Share | $ 0.63 | |
| VALUATION | Market Capitalization | $ 333.3 M |
| Enterprise Value | $ 929.9 M | |
| Enterprise Multiple | -3240.145 | |
| Enterprise Multiple QoQ | 2114.253 % | |
| Enterprise Multiple YoY | -6335.564 % | |
| Enterprise Multiple IPRWA | high: 100.362 median: 33.812 mean: 33.201 low: -33.843 ELLO: -3240.145 |
|
| EV/R | 107.319 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 6.589 | |
| Asset To Liability | 1.219 | |
| Debt To Capital | 0.835 | |
| Debt To Assets | 0.768 | |
| Debt To Assets QoQ | 1.704 % | |
| Debt To Assets YoY | -2.041 % | |
| Debt To Assets IPRWA | ELLO: 0.768 high: 0.587 median: 0.482 mean: 0.43 low: 0.187 |
|
| Debt To Equity | 5.062 | |
| Debt To Equity QoQ | 11.683 % | |
| Debt To Equity YoY | 7.083 % | |
| Debt To Equity IPRWA | high: 12.393 median: 6.38 ELLO: 5.062 mean: 3.689 low: -5.708 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.48 | |
| Price To Book QoQ | 0.088 % | |
| Price To Book YoY | 35.541 % | |
| Price To Book IPRWA | high: 5.87 ELLO: 2.48 median: 2.34 mean: 1.367 low: -2.783 |
|
| Price To Earnings (P/E) | — | |
| Price To Earnings QoQ | — | |
| Price To Earnings YoY | — | |
| Price To Earnings IPRWA | — | |
| PE/G Ratio | — | |
| Price To Sales (P/S) | 38.467 | |
| Price To Sales QoQ | -88.672 % | |
| Price To Sales YoY | 55.642 % | |
| Price To Sales IPRWA | ELLO: 38.467 high: 17.165 median: 9.609 mean: 7.475 low: 0.066 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | — | |
| Forward PE/G | — | |
| Forward P/S | — | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -0.068 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.01 | |
| Asset Turnover Ratio QoQ | 682.812 % | |
| Asset Turnover Ratio YoY | -20.916 % | |
| Asset Turnover Ratio IPRWA | high: 0.136 mean: 0.095 median: 0.09 low: 0.017 ELLO: 0.01 |
|
| Receivables Turnover | 1.84 | |
| Receivables Turnover Ratio QoQ | 475.604 % | |
| Receivables Turnover Ratio YoY | -28.442 % | |
| Receivables Turnover Ratio IPRWA | high: 2.619 median: 2.448 mean: 2.076 ELLO: 1.84 low: 1.032 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 49.59 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -13.959 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 58.932 median: 20.441 mean: -0.867 ELLO: -13.959 low: -229.515 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.155 | |
| CapEx To Revenue | -1.407 | |
| CapEx To Depreciation | -2.7 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 672.5 M | |
| Net Invested Capital | $ 777.5 M | |
| Invested Capital | $ 777.5 M | |
| Net Tangible Assets | $ 134.4 M | |
| Net Working Capital | $ 55.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.605 | |
| Current Ratio | 1.403 | |
| Current Ratio QoQ | 13.024 % | |
| Current Ratio YoY | 41.509 % | |
| Current Ratio IPRWA | ELLO: 1.403 high: 1.069 median: 0.896 mean: 0.864 low: 0.333 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -2370.404 | |
| Cost Of Debt | 0.557 % | |
| Interest Coverage Ratio | -0.785 | |
| Interest Coverage Ratio QoQ | -53.026 % | |
| Interest Coverage Ratio YoY | -129.724 % | |
| Interest Coverage Ratio IPRWA | high: 9.768 median: 5.988 mean: 4.874 ELLO: -0.785 low: -7.654 |
|
| Operating Cash Flow Ratio | -0.107 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 63.549 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.967 % | |
| Revenue Growth | 744.542 % | |
| Revenue Growth QoQ | -909.813 % | |
| Revenue Growth YoY | 35405.103 % | |
| Revenue Growth IPRWA | ELLO: 744.542 % high: 108.16 % median: 23.037 % mean: 14.409 % low: -28.169 % |
|
| Earnings Growth | — | |
| Earnings Growth QoQ | — | |
| Earnings Growth YoY | — | |
| Earnings Growth IPRWA | — | |
| MARGINS | ||
| Gross Margin | -10.71 % | |
| Gross Margin QoQ | -98.564 % | |
| Gross Margin YoY | 19025.0 % | |
| Gross Margin IPRWA | high: 71.704 % median: 42.73 % mean: 41.752 % low: 8.574 % ELLO: -10.71 % |
|
| EBIT Margin | -55.418 % | |
| EBIT Margin QoQ | -94.179 % | |
| EBIT Margin YoY | -151.75 % | |
| EBIT Margin IPRWA | high: 60.241 % mean: 33.011 % median: 25.798 % low: -10.888 % ELLO: -55.418 % |
|
| Return On Sales (ROS) | -31.137 % | |
| Return On Sales QoQ | -107.246 % | |
| Return On Sales YoY | 9.734 % | |
| Return On Sales IPRWA | high: 52.164 % mean: 27.13 % median: 26.578 % low: -5.964 % ELLO: -31.137 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -14.13 M | |
| Free Cash Flow Yield | -4.24 % | |
| Free Cash Flow Yield QoQ | -67.203 % | |
| Free Cash Flow Yield YoY | -51.554 % | |
| Free Cash Flow Yield IPRWA | high: 0.988 % median: 0.583 % mean: -0.51 % ELLO: -4.24 % low: -5.462 % |
|
| Free Cash Growth | -68.622 % | |
| Free Cash Growth QoQ | -158.352 % | |
| Free Cash Growth YoY | 572.963 % | |
| Free Cash Growth IPRWA | high: 21.053 % median: -46.98 % ELLO: -68.622 % mean: -84.795 % low: -369.729 % |
|
| Free Cash To Net Income | 1.353 | |
| Cash Flow Margin | -170.548 % | |
| Cash Flow To Earnings | 1.415 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -1.208 % | |
| Return On Assets QoQ | -22.959 % | |
| Return On Assets YoY | -205.687 % | |
| Return On Assets IPRWA | high: 4.904 % median: 2.484 % mean: 1.97 % ELLO: -1.208 % low: -5.619 % |
|
| Return On Capital Employed (ROCE) | -0.643 % | |
| Return On Equity (ROE) | -0.078 | |
| Return On Equity QoQ | -13.096 % | |
| Return On Equity YoY | -216.332 % | |
| Return On Equity IPRWA | high: 0.33 median: 0.33 mean: 0.193 low: 0.011 ELLO: -0.078 |
|
| DuPont ROE | -7.593 % | |
| Return On Invested Capital (ROIC) | -0.371 % | |
| Return On Invested Capital QoQ | -70.438 % | |
| Return On Invested Capital YoY | -133.095 % | |
| Return On Invested Capital IPRWA | high: 5.363 % mean: 3.608 % median: 3.118 % ELLO: -0.371 % low: -4.831 % |
|