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    Real estate development
Aspen Group Ltd. (Israel)

Aspen Group Ltd. (Israel)

TTASE:ASGR
614.60
ILA
-4.20
(-0.68%)
238.60EPS
3.80P/E
41.16BMarket Cap
Aspen Group Ltd. (Israel)
TASE:ASGR
(Tel Aviv Stock Exchange)

Recent

price

614.60

P/E

ratio

3.80

div

yld

8.05%

ROIC.AI

2012
2013
2014
2015
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
ILS
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
3.26
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
1.68
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
0.44
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
0.5
Dividend per Share
- -
7.68
7.82
- -
7.67
7.61
8.88
9.66
10.59
10.96
11.2
12.1
11.52
8.9
9.47
9.12
Book Value per Share
- -
7.56
7.3
- -
7.19
7.18
8.48
9.29
10.25
10.96
11.2
12.1
11.52
8.9
9.47
9.12
Tangible Book Value per Share
56
56
56
115
56
56
58
61
60
60
63
64
62
63
63
63
Basic Weighted Avg Shares
119
119
175
- -
192
193
195
229
213
182
196
250
215
214
211
206
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
52.49
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
106
Net Income, GAAP
22.31
- -
31.17
- -
22.46
19
- -
25.07
23.96
- -
19.48
45.83
- -
- -
27.51
18.65
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
51.69
Profit Margin (%)
- -
100
27
- -
-84
39
-67
-336
432
-74
147
41
-275
-194
-171
59
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
2,149
LT Debt
- -
444
483
- -
502
528
703
807
890
858
1,388
1,619
1,557
939
1,008
958
Total Equity
- -
- -
4.04
- -
- -
4.79
- -
5.68
9.32
- -
7.47
2.28
- -
- -
4.64
5.5
Return on Invested Capital (%)
- -
- -
3.53
- -
- -
3.32
- -
2.93
5.02
- -
2.44
-0.08
- -
- -
2.11
4.34
Return on Capital (%)
- -
- -
6.56
- -
- -
7.71
8.47
12.65
22.47
5.19
13.21
4.68
-9.65
-15.97
9.01
18.3
Return on Common Equity (%)

Capital Structure

ILS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
563
458
361
LT Borrowings
1,802
1,945
2,040
LT Finance Leases
111
111
109
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
64
64
64
Market Capitalization
495
442
412

Working Capital

ILS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
523
507
533
Cash, Cash Equivalents & STI
377
396
448
Accounts Receivable, Net
17
28
46
Inventories
- -
- -
- -
Total Current Liabilities
694
578
474
Payables & Accruals
- -
- -
- -
ST Debt
563
458
361
Deferred Revenue
- -
- -
- -

Growth Rates

ILS

•

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

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
52
53
54
55
214
2025
53
53
54
51
211
2026
51
50
- -
- -
- -

Quarterly Earnings Per Share

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.01
-0.68
-0.33
-0.61
-1.64
2025
-0.31
0.18
0.14
0.83
0.84
2026
-0.32
1.03
- -
- -
- -

Quarterly Dividends Per Share

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.1
- -
0.3
0.4
2025
- -
0.1
0.2
- -
0.3
2026
- -
0.3
- -
- -
- -
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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.