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    Real Estate - Services
Aspen Group Ltd.

Aspen Group Ltd.

ASGR.TA
Aspen Group Ltd.IL flagTel Aviv Stock Exchange
681.40
ILA
-6.60
- -
430.18MMarket Cap
Aspen Group Ltd.
ASGR.TA
(Tel Aviv Stock Exchange)

Recent

price

681.40

P/E

ratio

- -

div

yld

- -

ROIC.AI

2012
2013
2014
2015
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.12
2.13
3.12
- -
3.44
3.43
3.37
3.78
3.54
3.04
3.12
3.93
3.46
3.39
- -
3.35
Revenue per Share
0.47
0.82
0.52
- -
0.47
0.62
0.73
1.18
2.32
0.57
1.46
0.56
-1.17
-1.64
- -
0.84
Basic EPS, GAAP
0.46
0.57
0.79
- -
0.68
0.98
0.91
0.75
0.95
0.7
-0.58
0.53
-0.45
-0.3
- -
0.87
Free Cash Flow per Basic Share
0.04
0.18
0.23
- -
0.34
0.2
0.21
0.24
0.26
0.27
0.28
0.37
0.4
0.4
- -
0.3
Dividend per Share
- -
7.54
7.83
- -
8.21
8.61
9.31
9.55
11.72
7.63
8.46
8.57
7.46
5.82
- -
5.94
Book Value per Share
- -
7.82
8.11
- -
8.49
8.92
11.76
12.94
14.45
14.31
22.06
25.49
25.11
14.91
- -
15.97
Tangible Book Value per Share
56
56
56
115
56
56
58
61
60
60
63
64
62
63
- -
63
Basic Weighted Avg Shares
119
119
175
- -
192
193
195
229
213
182
196
250
215
214
211
211
Sales/Revenue/Turnover
66.52
64.81
62.55
- -
62.53
63.74
57.39
58.81
63.51
67.36
58.77
48.2
58.35
63.12
54.14
54.14
Operating Margin (%)
1
2
9
- -
11
11
11
11
28
13
5
6
6
5
1
1
Depreciation Expense
26
46
29
- -
26
35
42
72
140
34
92
35
-73
-103
53
53
Net Income, GAAP
22.31
- -
31.17
- -
22.46
19
- -
25.07
23.96
- -
19.48
45.83
- -
- -
27.51
27.51
Effective Tax Rate (%)
21.99
38.54
16.65
- -
13.62
18.13
21.77
31.24
65.48
18.76
46.87
14.14
-33.91
-48.35
25.19
25.19
Profit Margin (%)
- -
100
27
- -
-84
39
-67
-336
432
-74
147
41
-275
-194
-171
-171
Working Capital
- -
1,079
1,890
- -
1,629
1,600
1,822
1,802
1,650
1,397
2,355
2,703
2,764
1,841
1,912
1,912
LT Debt
- -
444
483
- -
502
528
703
807
890
858
1,388
1,619
1,557
939
1,008
1,008
Total Equity
- -
- -
3.52
- -
7.95
4.29
- -
3.44
3.43
- -
2.78
1.47
- -
- -
2.39
2.39
Return on Invested Capital (%)
- -
- -
3.55
- -
5.36
3.29
- -
2.94
4.98
- -
2.59
-0.08
- -
- -
2.25
2.25
Return on Capital (%)
- -
21.76
6.77
- -
11.42
7.42
8.29
12.83
21.72
5.88
18.58
6.56
-14.46
-24.92
14.35
14.35
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
ST Debt
580
466
563
LT Borrowings
1,897
2,131
1,802
LT Finance Leases
110
111
111
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
63
63
63
Market Capitalization
47,418
45,877
48,642

Working Capital

FRC

•

in mil. unless spec.
Jun'25
Sep'25
Dec'25
Total Current Assets
533
745
523
Cash, Cash Equivalents & STI
476
684
377
Accounts Receivable, Net
11
12
17
Inventories
- -
- -
- -
Total Current Liabilities
708
590
694
Payables & Accruals
- -
- -
- -
ST Debt
580
466
563
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.2%
8.45%
7.35%
Free Cash Flow
-95.48%
-196.1%
-385.7%
Net Income, GAAP
-16.52%
-61.66%
-151.5%
Sales/Revenue/Turnover
1.69%
3.86%
-1.12%
Total Cash Common Dividend
- -
- -
-25%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
65
67
52
60
215
2024
52
53
54
55
214
2025
53
53
54
51
211

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
-0.22
-0.59
-0.09
- -
-1.17
2024
-0.01
-0.68
-0.33
- -
-1.64
2025
-0.31
0.18
0.14
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
0.1
0.2
- -
0.4
2024
- -
0.1
- -
- -
0.4
2025
- -
0.1
0.2
- -
- -
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Business
Aspen Group Ltd. (ASGR.TA) is an Israel-based holding company primarily engaged in real estate development, construction, and infrastructure projects. The company develops and sells residential, commercial, and industrial properties; constructs infrastructure such as roads, bridges, and public buildings; and provides engineering, planning, and project management services. Its portfolio includes urban renewal projects, student housing developments, and logistics centers, marketed to individual buyers, institutional investors, and government entities primarily in Israel, with select operations in Central and Eastern Europe. Founded in 2010 and headquartered in Petah Tikva, Israel, Aspen Group operates through subsidiaries focused on specific segments including residential construction under the Aspen Residential brand, commercial real estate via Aspen Commercial, and infrastructure through its engineering division. The company targets mid-to-high-end residential markets in major Israeli cities like Tel Aviv, Jerusalem, and Haifa, as well as institutional clients for large-scale developments. In the past two years, Aspen Group has expanded through strategic acquisitions, including a majority stake in a leading urban renewal developer in 2024, enhancing its pipeline of renovation projects. It secured a significant NIS 500 million funding round in late 2024 from institutional investors to fuel new residential launches amid Israel's housing shortage. Additionally, the company announced a partnership with a European infrastructure firm in early 2025 for joint ventures in Romania, marking its latest geographic expansion.