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Menora Miv Hld (MMHD) Fair Value & Analysis

Financial Services · Il · Market cap 28.3B ILA · ISIN IL0005660183

What is Menora Miv Hld really worth?

MM Menora Miv Hld MMHD · TA
Price544.60 ILA
Fair Value326.94 ILA
Upside−40.0%
Quality64/100

A solid business, but trading 67% above our fair value of 326.94 ILA.

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Strengths

Healthy Growth (revenue 5y +13.4 %/yr)
Highly profitable · 23.2% net margin
Moderate debt · generates free cash flow
Ranks above peers (11/14)
Wide moat 76/100
Evidence: High Range 245.21 ILA – 408.67 ILA

Fair value as of: Aug 19, 2026

From 6 valuation models · updated 16 days ago

Share price +12.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (408.67 ILA). The favourable scenario is already priced in.
  • Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

565.00 ILA 52.03 ILA Fair Value 326.94 ILA Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range 52.03 ILA – 565.00 ILA · fair‑value band 245.21 ILA – 408.67 ILA · the 544.60 ILA price screens above the 326.94 ILA fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Menora Miv Hld (MMHD) currently trades at 544.60 ILA, while our model-based Fair Value estimate is 326.94 ILA, implying the stock looks roughly 66.6% overvalued today. The Quality Score stands at 64/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of 357.29 ILA per share, and 0 of the 6 models we run sit above the 544.60 ILA price. Bear case: the Asset-Based group reads lowest at 98.52 ILA, and 6 of the 6 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Menora Miv Hld generated revenue of 10.2B ILA at a net margin of 23.0%. Revenue grew 42.1% year over year. It earns a return on equity of 28.2%. Net debt stands at 3.3B ILA. Fundamentals as of Aug 19, 2026

Our scenario range runs from 245.21 ILA (bear case) to 408.67 ILA (bull case); at 544.60 ILA, the current price sits above 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 −29% fair-value upside, at −40%, MMHD screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 15.57 ILS per share, which is 4.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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
Gordon GGM 88.18 ILA 183.35 ILA 290.86 ILA 66
DDM Multi-Stage 88.18 ILA 154.60 ILA 192.43 ILA 66
Residual Income 259.69 ILA 357.29 ILA 2,297 ILA 64
All 6 models by family
Dividend Discount
Gordon GGM 88.18 ILA 183.35 ILA 290.86 ILA 66
DDM Multi-Stage 88.18 ILA 154.60 ILA 192.43 ILA 66
Multiples
P/E Multiple 366.90 ILA 489.20 ILA 611.50 ILA 63
P/B Multiple 154.40 ILA 205.87 ILA 257.33 ILA 55
Asset-Based
NCAV (Graham) 73.52 ILA 98.52 ILA 147.05 ILA 54
Economic Profit
Residual Income 259.69 ILA 357.29 ILA 2,297 ILA 64

Widest divergence: Economic Profit (357.29 ILA) versus Asset-Based (98.52 ILA). Highest evidence: Gordon GGM (66).

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Key figures & financial health

P/E ratio 20.2
P/S ratio 2.66 P/E × margin
EPS (TTM) 26.93 ILA price ÷ EPS = P/E 20.2
Dividend yield 2.8% payout 57.6%
Net margin 13.2% FY2025
Return on equity 28.8% TTM
More key figures
Profitability
Return on assets (EBIT) 2.1% avg 5y
Operating margin 26.6% TTM
Growth
Revenue (TTM) 10.5B ILA TTM
Revenue growth (YoY) +12.3% 3y avg +44.8%
EPS growth (YoY) +20.2%
Balance sheet & cash flow
Free cash flow 2.2B ILA FY2025
Net debt 3.3B ILA FY2025 · ≈ 1.5 yrs of FCF

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 53 · Market factors (momentum, volatility) 75

Profitability 45
Margins and returns on capital today
Quality Growth 82
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 10
Balance sheet, leverage, solvency risk
Investment 63
Disciplined investing over empire-building
Low Volatility 65
Calm price path (market factor)
Momentum 71
Price trend over the last 3–12 months (market factor)
52W Momentum 95
Distance to the 52-week high (market factor)
Net Issuance 85
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Menora Mivtachim Holdings Ltd., together with its subsidiaries, operates in insurance and finance sectors in Israel. It operates through Life Insurance and Long-Term Savings; Health Insurance; and Property and Casualty Insurance segments.

Full company description

Menora Mivtachim Holdings Ltd., together with its subsidiaries, operates in insurance and finance sectors in Israel. It operates through Life Insurance and Long-Term Savings; Health Insurance; and Property and Casualty Insurance segments. The company offers mortgage, life, disability, health, critical illness, travel, personal accident, home, business, car, comprehensive car, third party, compulsory car, casual driver, truck, motorcycle, executive, foreign workers and tourists, cyber, and engineering insurance products; and pension, provident, and training funds. It also engages in the provision of securities distribution and underwriting obligations, insurance brokerage, financing and credit to SMEs, and undertakings for repayment of means of payment, as well as real estate investments, and solar activities. Menora Mivtachim Holdings Ltd. was formerly known as General Liability Office Ltd. and changed its name to Menora Mivtachim Holdings Ltd. in 2006. The company was incorporated in 1935 and is based in Ramat Gan, Israel.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Menora Miv Hld reported revenue of 17.9B ILS in FY2025 versus 13.0B ILS in FY2021, a compound +8.3%/yr. Reported net income was 2.4B ILS in FY2025, compounding +37.6%/yr from FY2021.

Growth Quality 99/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
17.9B ILS
Latest YoY
+20.9%
Avg. revenue 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.
+44.8%
Avg. revenue 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.
+13.4%
Avg. revenue growth/yr (21Y) 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.
+19.3%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+32.3% (29.5 + 2.8)
Revenue +8.3%/yr
FY21 13.0B ILS
FY22 5.9B ILS
FY23 12.6B ILS
FY24 14.8B ILS
FY25 17.9B ILS
Net income +37.6%/yr
FY21 656M ILS
FY22 536M ILS
FY23 516M ILS
FY24 1.1B ILS
FY25 2.4B ILS
Character of growth · EPS growth decomposed (2014-2025) +26.7 % p.a.
Revenue per share +7.6 %

of which total revenue +7.7 % · buybacks/dilution +0.0 %

EBIT margin +16.8 %
Tax rate +0.9 %
Residual (interest, one-offs) −0.1 %

Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).

MMHD screens 67% overvalued. Compare with China Life Insurance Company →

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Cite: Fair Value Calculator (2026). "Menora Miv Hld Fair Value". https://www.fairvalue-calculator.com/stock/MMHD

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 60 · Top 25%
Fair Value upside −40% · Below median
Return on equity (TTM) 29% · Top 25%
Return on assets 3% · Top 25%
Net margin (TTM) 23% · Top 25%
Operating margin (TTM) 27% · Above median
Revenue growth 12% · Above median
Dividend yield (TTM) 2.8% · Above median
Debt / equity 0.55× · Higher than median

Valuation Multiples vs Insurance - Life median · lower = cheaper

P/E (TTM) 20.2× · Pricier than median
P/B 1.03× · Cheaper than median
P/S (TTM) 0.90× · Cheaper than median
P/FCF 4.3× · Pricier than median
EV/EBITDA 3.1× · Cheaper than 75% of peers

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 18
FUTURE62 · sector 43
PAST100 · sector 43
HEALTH72 · sector 84
DIVIDEND57 · sector 54

VALUE 0: the price sits above our fair-value range.

Insider activity: 42/100

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

Similar stocks

10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

Stock Price Fair Value vs Fair Value
China Life Insurance Company 601628 ¥37.03 ¥49.98 +35%
Ping An Insurance (Group) Company 601318 ¥55.82 ¥84.72 +52%
AIA Group 1299 HK$73.00 HK$33.57 −54%
Manulife Financial Corporation MFC C$59.80 C$38.80 −35%
Aflac Incorporated AFL $116.52 $74.34 −36%
Great-West Lifeco Inc GWO C$90.25 C$39.53 −56%
MetLife, Inc MET $96.51 $68.27 −29%
Life Insurance Corporation LICI ₹412.15 ₹392.93 −5%
China Pacific Insurance (Group) Co 601601 ¥30.20 ¥57.51 +90%
Samsung Life Insurance Co 032830 301,000 KRW 191,293 KRW −36%

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Frequently asked questions

Is Menora Miv Hld (MMHD) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of 326.94 ILA versus a price of 544.60 ILA, about −40% upside (overvalued).
What is the fair value of MMHD?
Our model-based fair value for Menora Miv Hld is 326.94 ILA (as of Aug 19, 2026), built from audited fundamentals. The current price: 544.60 ILA.
What is the quality score of MMHD?
Menora Miv Hld has a Quality Score of 64/100. 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 Menora Miv Hld (MMHD)?
Menora Miv Hld reported trailing-twelve-month revenue of about 10.2B ILS (latest available figure, as of Aug 19, 2026).
What is the net profit margin of MMHD?
The net profit margin of Menora Miv Hld is about 23.0%, meaning it keeps roughly 23.0% of revenue as net income. Based on the latest reported figures.
Does Menora Miv Hld pay a dividend?
Menora Miv Hld currently shows a dividend yield of about 2.85% relative to its recent price (as of Aug 19, 2026).
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