DORSEL LTD

DORSEL LTD

TTASE:DRSL
1,913.00
ILA
-43.00
(-2.20%)
377.45EPS
5.23P/E
44.61BMarket Cap
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
2.55
2.56
2.82
3.34
3.85
4.14
4.71
4.68
Basic EPS, GAAP
1.5
1.16
2.41
4.23
1.94
3.15
5.01
3.78
Free Cash Flow per Basic Share
1.11
1.21
1.44
0.54
1.5
1.12
1.86
1.77
Dividend per Share
0.62
0.22
0.58
0.93
0.27
0.36
0.76
0.98
Book Value per Share
- -
14.6
16.33
19.6
20.89
23.17
27.12
26.39
Tangible Book Value per Share
- -
14.6
16.33
19.6
20.89
23.17
27.12
26.39
Basic Weighted Avg Shares
23
23
23
23
21
21
21
21
Sales/Revenue/Turnover
58
58
64
75
82
88
100
99
Operating Margin (%)
68.76
69.07
71.33
74.54
71.78
73.26
72.33
69.02
Depreciation Expense
- -
- -
- -
- -
- -
1
1
1
Net Income, GAAP
34
26
54
95
41
67
106
80
Effective Tax Rate (%)
21.48
19.54
21.79
17.89
21.1
24.79
14.18
17.25
Profit Margin (%)
58.76
45.37
85.39
126.74
50.33
76.2
106.16
80.89
Working Capital
- -
27
37
-1
-53
-142
27
79
LT Debt
- -
301
450
531
474
493
617
656
Total Equity
- -
329
368
442
477
528
617
600
Return on Invested Capital (%)
- -
- -
8.08
11.47
5.82
7.74
10.27
8.18
Return on Capital (%)
- -
- -
8.43
11.56
6.33
8.11
10.54
8.48
Return on Common Equity (%)
- -
- -
15.55
23.55
9.04
13.51
18.66
13.91

Capital Structure

ILS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
165
165
200
LT Borrowings
578
575
618
LT Finance Leases
39
38
38
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
23
23
23
Market Capitalization
- -
- -
446

Working Capital

ILS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
214
227
299
Cash, Cash Equivalents & STI
194
208
263
Accounts Receivable, Net
4
9
33
Inventories
- -
- -
- -
Total Current Liabilities
186
206
220
Payables & Accruals
- -
- -
- -
ST Debt
165
165
200
Deferred Revenue
- -
- -
- -

Growth Rates

ILS

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
13.48%
16.91%
Free Cash Flow
- -
31.58%
64.13%
Net Income, GAAP
- -
49.26%
57.67%
Sales/Revenue/Turnover
- -
11.59%
13.17%
Total Cash Common Dividend
- -
58.4%
111.1%

Quarterly Revenue

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
21
21
23
22
88
2025
25
25
26
24
100
2026
24
24
- -
- -
- -

Quarterly Earnings Per Share

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.35
0.5
1.29
0.97
3.15
2025
1.07
0.42
0.53
2.88
5.01
2026
0.71
-0.35
- -
- -
- -

Quarterly Dividends Per Share

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.34
- -
0.09
0.36
2025
- -
0.42
0.31
- -
0.76
2026
- -
0.67
- -
- -
- -

Company Description

CEO
Gavriel Boganem
Full Time Employees
15
Sector
Finance
Industry
Real estate development
Address
Hamada St. 2 Yokneam Israel 20692
IPO Date
Nov 7, 2022
Business
Dorsel Holdings Ltd Dorsel Holdings Ltd (DRSH.TA) operates as a real estate company focused on the development, construction, acquisition, and management of income-generating commercial properties, including industrial, logistics, office, and retail buildings for industry, trade, and high-tech sectors; core assets encompass industrial and business properties in Israeli locations such as Yokneam, Yavne, Tirat Carmel, Haifa, Ashdod, Petah Tikva, and Raanana, alongside income-producing real estate in England leased to stable anchor tenants and a 41.5% stake in MyMall, Limassol's largest shopping center spanning 32,000 square meters with major brands like Zara, Adidas, and Bershka. The company, founded in 1995 by Gabi Boganim—who serves as CEO and maintains controlling interest—went public on the Tel Aviv Stock Exchange in 2006 and is headquartered in Yokneam, Israel, with operations spanning Israel, England, and Cyprus. Dorsel emphasizes lean management with high-quality, stable tenants to achieve near-full occupancy, high profit margins, and sustainable construction standards for energy efficiency and environmental quality. In recent developments, Dorsel, in partnership with Ari Real Estate (Arena) Investments, acquired a controlling interest in MyMall Limassol in 2022 via a special purpose vehicle, enabling plans for major expansion including 6,000 square meters of additional commercial space, interior/exterior renovations, and a new 8,000-square-meter residential complex with 150-160 apartments adjacent to the mall; the company also announced a share repurchase program for up to ILS 25 million worth of shares in November 2025, alongside reporting record revenue of ILS 113.31 million and earnings of ILS 65.28 million for the trailing twelve months as of September 2025.