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Clal Insurance Enterprises Holdings (CLIS) Fair Value & Analysis

Financial Services · Il · Market cap 19.2B ILA

CI Clal Insurance Enterprises Holdings CLIS · TA
Price224.40 ILA
Fair Value256.46 ILA
Upside+14.3%
Quality46/100
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Mixed Growth
Solidly profitable · 13.3% net margin
High debt · generates free cash flow
Ranks above peers (9/14)
Wide moat 68/100
Evidence: High Range 192.35 ILA – 320.58 ILA Share as image

Fair value as of: Aug 13, 2026

From 6 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from 364.27 ILA to 256.46 ILA (−29.6%) since Jul 18, 2026. Share price −3.1% over the past month.

Below-average quality, screening 14% undervalued on our models.

What matters now

  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
  • Our model range runs from 192.35 ILA (bear) to 320.58 ILA (bull), base 256.46 ILA. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 46/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

296.20 ILA 43.68 ILA Fair Value 256.46 ILA Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range 43.68 ILA – 296.20 ILA · fair‑value band 192.35 ILA – 320.58 ILA · the 224.40 ILA price screens below the 256.46 ILA fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Clal Insurance Enterprises Holdings (CLIS) currently trades at 224.40 ILA, while our model-based Fair Value estimate is 256.46 ILA, implying the stock looks roughly 14.3% undervalued today. The Quality Score stands at 46/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Clal Insurance Enterprises Holdings generated revenue of 17.4B ILA at a net margin of 13.3%. Revenue grew 6.6% year over year. It earns a return on equity of 22.9%. Net debt stands at 13.3B ILA. Fundamentals as of Aug 13, 2026

Our scenario range runs from 192.35 ILA (bear case) to 320.58 ILA (bull case); at 224.40 ILA, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Financial Services peers we cover trades at 34% fair-value upside, at 14%, CLIS screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income 190.34 ILA 267.95 ILA 1,506 ILA 76
Gordon GGM 22.93 ILA 47.67 ILA 75.62 ILA 70
P/E Multiple 273.20 ILA 364.27 ILA 455.34 ILA 63
All 6 models by family
Dividend Discount
Gordon GGM 22.93 ILA 47.67 ILA 75.62 ILA 70
DDM Multi-Stage 22.93 ILA 40.20 ILA 50.03 ILA 61
Multiples
P/E Multiple 273.20 ILA 364.27 ILA 455.34 ILA 63
P/B Multiple 139.84 ILA 186.45 ILA 233.06 ILA 55
Asset-Based
NCAV (Graham) 66.59 ILA 89.23 ILA 133.18 ILA 50
Economic Profit
Residual Income 190.34 ILA 267.95 ILA 1,506 ILA 76

Widest divergence: Economic Profit (267.95 ILA) versus Dividend Discount (40.20 ILA). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 17.4B ILA
Revenue growth (YoY) +8.2%
Net margin 13.3%
Return on equity 22.9%
Free cash flow 2.2B ILA FY2025
P/E ratio 8.1
More key figures
Operating margin 29.5%
EPS (TTM) 27.74 ILA
EPS growth (YoY) +5.4%
Net debt 13.3B ILA FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 42 · Market factors (momentum, volatility) 52

Profitability 36
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 59
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 59
Distance to the 52-week high (market factor)
Net Issuance 41
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Clal Insurance Enterprises Holdings Ltd. operates in the fields of insurance, pensions, provident funds and finance, and credit insurance in Israel.

Full company description

Clal Insurance Enterprises Holdings Ltd. operates in the fields of insurance, pensions, provident funds and finance, and credit insurance in Israel. The company's Long-Term Savings segment includes life insurance and related coverages; and management of pension and provident funds, and long-term savings, as well as insurance coverage for various risks, such as death, disability, loss of working capacity, and health insurance policies. Its Health Insurance segment provides long-term care, medical expense, surgeries, transplants, personal accidents, foreign travel, dental, foreign worker, and other insurance products. The company's General insurance segment comprises liability and property sectors, credit insurance, personal accidents, and others. This segment also provides mandatory vehicle that focuses on coverage, the purchase of which by the vehicle owner or driver is mandatory, in respect of bodily injury caused as a result of the use of a motor vehicle; vehicle property that covers property damage to the policyholder's vehicle and third-party property damage caused by the insured vehicle; property and other insurance products; credit insurance and foreign trade risk insurance products; and third-party, employers', professional, and product liability insurance products. Its Credit Card Segment provides bank payment cards for B2B2C customers; sells and markets of non-bank credit cards, consumer credit, and other products directly to private customers; ancillary and related services and complementary products to the clearing services; products and services offered to merchants, such as loans, voucher discounting, advance payments, and guarantees; and e-commerce payment solutions, bookkeeping management, and digital invoice services. The company was incorporated in 1987 and is based in Tel Aviv-Yafo, Israel.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Clal Insurance Enterprises Holdings reported revenue of 15.1B ILA in FY2025 versus 25.1B ILA in FY2021, a compound −11.9%/yr. Reported net income was 2.3B ILA in FY2025, compounding +20.5%/yr from FY2021.

Growth Quality 74/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
15.1B ILS
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.3%
Avg. growth/yr (24Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.4%
Revenue −11.9%/yr
FY21 25.1B ILA
FY22 7.3B ILA
FY23 21.4B ILA
FY24 26.8B ILA
FY25 15.1B ILA
Net income +20.5%/yr
FY21 1.1B ILA
FY22 121M ILA
FY23 220M ILA
FY24 718M ILA
FY25 2.3B ILA
Character of growth · EPS growth decomposed (2014-2025) +12.2 % p.a.
Revenue per share +1.8 pp

of which total revenue +6.1 pp · buybacks/dilution −4.3 pp

EBIT margin +10.0 pp
Tax rate +0.2 pp
Residual (interest, one-offs) +0.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Clal Insurance Enterprises Holdings Fair Value". https://www.fairvalue-calculator.com/stock/CLIS

Peer Group

Insurance - Life · 96 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 45 · Below median
Fair Value upside +15% · Above median
Return on equity (TTM) 23% · Top 25%
Return on assets 2% · Top 25%
Net margin (TTM) 13% · Above median
Operating margin (TTM) 30% · Above median
Revenue growth 8% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 1.53× · Higher than 75% of peers

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 8.1× · Cheaper than median
P/B 0.60× · Cheaper than 75% of peers
P/S (TTM) 0.37× · Cheaper than 75% of peers
P/FCF 3.0× · Pricier than median
EV/EBITDA 3.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 54 · sector 26
FUTURE 41 · sector 44
PAST 92 · sector 43
HEALTH 24 · sector 85
DIVIDEND 0 · sector 55

Insider activity: 40/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥37.33 ¥49.98 +34%
Ping An Insurance (Group) Company 601318 ¥52.60 ¥84.72 +61%
Manulife Financial Corporation 0945 HK$343.40 HK$143.17 -58%
Life Insurance Corporation LICI ₹412.15 ₹392.93 -5%
Samsung Life Insurance Co 032830 302,500 KRW 191,293 KRW -37%
China Pacific Insurance (Group) Co 601601 ¥30.48 ¥57.51 +89%
Prudential plc PUKN 545.00 MXN 499.36 MXN -8%
New China Life Insurance Company 601336 ¥58.83 ¥99.92 +70%
SBI Life Insurance Company SBILIFE ₹1,830 ₹293.11 -84%
Cathay Financial Holding 2882B 59.00 TWD 107.71 TWD +83%

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Frequently asked questions

Is Clal Insurance Enterprises Holdings (CLIS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of 256.46 ILA versus a price of 224.40 ILA, about +14% (undervalued).
What is the fair value of CLIS?
Our model-based fair value for Clal Insurance Enterprises Holdings is 256.46 ILA (as of Aug 13, 2026), built from audited fundamentals. The current price is 224.40 ILA.
What is the quality score of CLIS?
Clal Insurance Enterprises Holdings has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Clal Insurance Enterprises Holdings (CLIS)?
Clal Insurance Enterprises Holdings reported trailing-twelve-month revenue of about 17.4B ILS (latest available figure, as of Aug 13, 2026).
What is the net profit margin of CLIS?
The net profit margin of Clal Insurance Enterprises Holdings is about 13.3%, meaning it keeps roughly 13.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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