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    Multi-line insurance
Menora Mivtachim Holdings Ltd.

Menora Mivtachim Holdings Ltd.

TTASE:MMHD
54,400.00
ILA
-1,850.00
(-3.29%)
3,958.29EPS
11.20P/E
2.79TMarket Cap
Nov 26Next Earn
Menora Mivtachim Holdings Ltd.
TASE:MMHD
(Tel Aviv Stock Exchange)

Recent

price

54,400.00

P/E

ratio

11.20

div

yld

2.80%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
ILS
100.09
67.83
107.92
122.04
118.75
115.57
133.38
155.67
130.76
190.28
150.56
205.3
94.03
203.28
162.2
184.31
177.66
Revenue per Share
4.45
0.61
4.33
6.81
3.34
3.39
0.69
4.42
5.65
4.84
10.24
10.36
8.56
8.35
27.01
37.93
39.89
Basic EPS, GAAP
-2.51
6.31
7.76
10.56
8.17
-2.14
17.34
5.89
-12.02
5.9
26.04
15.71
-13.94
-9.35
21.87
31.91
15.8
Free Cash Flow per Basic Share
- -
- -
- -
1.58
1.58
- -
0.79
1.58
0.79
1.58
- -
1.58
0.8
2.83
7.38
9.68
15.25
Dividend per Share
35.6
34.78
41.36
46.23
48.46
50.26
53.37
57.15
59.21
66.34
76.6
86.95
93.2
99.74
119.66
147.28
154.93
Book Value per Share
18.26
16.45
22.83
28
30.78
33.27
36.88
41.79
42.58
48.87
58.46
68.17
65.76
70.75
90
117.12
123.19
Tangible Book Value per Share
63
63
63
63
63
63
63
63
63
63
63
63
63
62
62
62
62
Basic Weighted Avg Shares
6,333
4,292
6,828
7,722
7,513
7,312
8,439
9,850
8,274
12,039
9,526
12,990
5,885
12,569
10,112
11,424
11,067
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
113
132
158
194
206
205
195
168
143
179
205
234
246
276
284
284
299
Depreciation Expense
282
39
274
431
212
215
44
280
357
306
648
656
536
516
1,684
2,351
2,485
Net Income, GAAP
35.14
57.48
22.11
36
40.39
35.71
36.04
35.97
33.3
32.45
31.44
31.15
28.29
31.82
33.23
33.11
33.36
Effective Tax Rate (%)
4.45
0.9
4.01
5.58
2.82
2.93
0.52
2.84
4.32
2.54
6.8
5.05
9.11
4.11
16.65
20.58
22.45
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
1,760
1,950
1,759
1,573
1,567
1,651
2,086
1,733
1,809
2,125
2,159
1,817
3,428
3,716
3,350
5,129
6,623
LT Debt
2,261
2,209
2,627
2,935
3,075
3,188
3,388
3,628
3,758
4,207
4,856
5,572
6,079
6,359
7,631
9,449
9,916
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
9.63
2.43
8.7
11.54
5.65
5.36
1.77
6.24
7.63
6.05
10.39
9.96
7.46
6.52
16.98
19.28
17.33
Return on Capital (%)
13.4
1.74
11.38
15.55
7.06
6.87
1.33
7.99
9.71
7.71
14.32
12.67
9.41
8.55
24.76
28.29
27.51
Return on Common Equity (%)

Capital Structure

ILS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
5,059
5,972
6,552
LT Finance Leases
71
72
71
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
62
62
62
Market Capitalization
24,912
28,342
27,911

Working Capital

ILS

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
5,385
4,168
4,874
Accounts Receivable, Net
160
288
315
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

ILS

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.66%
14.45%
23.83%
Free Cash Flow
-164.05%
-110.35%
45.06%
Net Income, GAAP
83.19%
49.03%
39.61%
Sales/Revenue/Turnover
12.94%
17.73%
12.97%
Total Cash Common Dividend
- -
- -
30.39%

Quarterly Revenue

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,585
1,855
2,601
4,129
10,112
2025
1,612
3,032
2,780
3,414
11,424
2026
1,728
3,145
- -
- -
- -

Quarterly Earnings Per Share

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5.68
2.94
8.72
5.32
27.01
2025
6.16
11.8
9.44
10.38
37.93
2026
7.43
12.64
- -
- -
- -

Quarterly Dividends Per Share

ILS

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
2.82
2.74
1.86
7.38
2025
- -
2.41
7.21
- -
9.68
2026
- -
8
- -
- -
- -
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Business
Menora Mivtachim Holdings Ltd (MMHD.TA) operates as a leading Israeli financial services conglomerate, providing a broad range of insurance, pension, savings, and asset management solutions to individual and institutional clients. The company offers life and non-life insurance products including health, property and casualty, liability, and motor insurance; pension and provident funds; long-term savings plans such as managers' policies and severance pay funds; and investment portfolio management services encompassing mutual funds, ETFs, and alternative investments. Through its subsidiaries, it also delivers banking services, infrastructure investments, and real estate management, primarily targeting the Israeli market with select international operations in Europe and North America. Founded in 1935 and headquartered in Bnei Brak, Israel, Menora Mivtachim maintains a dominant position in Israel's insurance and capital markets sectors, serving over 1 million policyholders and managing assets under management exceeding ILS 200 billion. Its business segments include non-life insurance (property, health, and motor), life insurance and long-term savings, pensions and compensation of employees, and asset management, with key brands such as Menora Mivtachim Insurance, Phoenix Assurance (following a major merger), and Mivtachim Pension Funds. Recent major developments include the strategic merger with Phoenix Holdings Ltd completed in 2023, significantly expanding its market share in insurance and pensions to become Israel's largest provider in these areas; a ILS 1.5 billion capital raise in late 2024 to support growth initiatives; and the launch of new digital health insurance platforms and ESG-focused investment funds in 2025 amid regulatory shifts toward sustainable finance. The company has also formed alliances with global reinsurers like Swiss Re for catastrophe coverage and expanded its infrastructure debt fund targeting renewable energy projects in Israel and Eastern Europe. These moves reflect ongoing consolidation and digital transformation efforts within the Israeli financial sector.