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OY Nofar Energy Ltd (NOFR) Fair Value & Analysis

Utilities · Il · Market cap 8.2B ILA · ISIN IL0011708778

What is OY Nofar Energy Ltd really worth?

ON OY Nofar Energy Ltd NOFR · TA
Price171.60 ILA
Fair Value40.00 ILA
Upside−76.7%
Quality19/100

Below-average quality, and trading another 329% above our fair value of 40.00 ILA.

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Strengths

Solidly profitable · 17.6% net margin

Risks

!Expensive Growth (revenue 5y +7.7 %/yr)
!High debt · negative free cash flow
!Trails peers (2/11)
!Narrow moat 26/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 4 out of 100
!Weak on balance sheet: 10 out of 100
Evidence: Medium Range 30.00 ILA – 50.00 ILA

Fair value as of: Aug 23, 2026

From 9 valuation models · updated 13 days ago

Share price −4.4% 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 (50.00 ILA). The favourable scenario is already priced in.
  • Weak quality (19/100) and above fair value at the same time, the margin of safety is missing on both counts.

Price vs Fair Value (5 years)

281.40 ILA 70.10 ILA Fair Value 40.00 ILA May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 23, 2026.

How to read this chart

60‑month range 70.10 ILA – 281.40 ILA · fair‑value band 30.00 ILA – 50.00 ILA · the 171.60 ILA price screens above the 40.00 ILA fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 23, 2026.

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Analysis

OY Nofar Energy Ltd (NOFR) currently trades at 171.60 ILA, while our model-based Fair Value estimate is 40.00 ILA, implying the stock looks roughly 329.0% overvalued today. The Quality Score stands at 19/100 (below-average quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of 47.61 ILA per share, and 0 of the 9 models we run sit above the 171.60 ILA price. Bear case: the Earnings-Based group reads lowest at 22.52 ILA, and 9 of the 9 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, OY Nofar Energy Ltd generated revenue of 318M ILA at a net margin of 28.4%. Revenue declined 27.8% year over year. It earns a return on equity of 2.4%. Net debt stands at 3.7B ILA. Fundamentals as of Aug 23, 2026

Our scenario range runs from 30.00 ILA (bear case) to 50.00 ILA (bull case); at 171.60 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 Utilities peers we cover trades at −12% fair-value upside, at −77%, NOFR 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 1.11 ILS per share, which is 2.8 % 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
Residual Income best evidence 36.48 ILA 36.53 ILA 33.97 ILA 71
Growth-Adj P/E 33.33 ILA 47.61 ILA 61.89 ILA 67
Graham-Dodd 16.00 ILA 63.59 ILA 86.40 ILA 64
All 9 models by family
Earnings-Based
Graham-Dodd 16.00 ILA 63.59 ILA 86.40 ILA 64
Lynch FV 15.76 ILA 22.52 ILA 29.27 ILA 61
PEG = 1.0 15.76 ILA 22.52 ILA 29.27 ILA 57
Multiples
P/E Multiple 49.41 ILA 65.88 ILA 82.35 ILA 63
P/S Multiple 30.00 ILA 40.00 ILA 50.00 ILA 58
P/B Multiple 30.00 ILA 40.00 ILA 50.00 ILA 55
Asset-Based
NCAV (Graham) 24.27 ILA 32.53 ILA 48.55 ILA 54
Economic Profit
Residual Income best evidence 36.48 ILA 36.53 ILA 33.97 ILA 71
Growth Earnings
Growth-Adj P/E 33.33 ILA 47.61 ILA 61.89 ILA 67

Widest divergence: Growth Earnings (47.61 ILA) versus Earnings-Based (22.52 ILA). Highest evidence: Residual Income (71).

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Key figures & financial health

P/E ratio 104.0
P/S ratio 30.1 P/E × margin
EPS (TTM) 1.65 ILA price ÷ EPS = P/E 104.0
Net margin 29.0% FY2025
Return on equity 2.4% TTM
Return on assets (EBIT) 0.3% avg 5y
More key figures
Profitability
Operating margin −211% TTM
Growth
Revenue (TTM) 318M ILA TTM
Revenue growth (YoY) −27.8% 3y avg −1.4%
EPS growth (YoY) +940%
Balance sheet & cash flow
Free cash flow −1.3B ILA FY2025
Net debt 3.7B ILA FY2025

Figures from reported company fundamentals · as of Aug 23, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 19/100

Of which business quality 20 · Market factors (momentum, volatility) 54

Profitability 31
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 17
Balance sheet, leverage, solvency risk
Investment 39
Disciplined investing over empire-building
Low Volatility 43
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 70
Distance to the 52-week high (market factor)
Net Issuance 19
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

O.Y. Nofar Energy Ltd develops, designs, licenses, constructs, and operates photovoltaic systems on rooftops in Israel. It engages in the initiation, financing, construction, operation, and maintenance of solar power generation systems, wind power generation systems, and battery storage systems.

Full company description

O.Y. Nofar Energy Ltd develops, designs, licenses, constructs, and operates photovoltaic systems on rooftops in Israel. It engages in the initiation, financing, construction, operation, and maintenance of solar power generation systems, wind power generation systems, and battery storage systems. It serves in the United States, Poland, Romania, Spain, Italy, England, Serbia and Czech Republic. O.Y. Nofar Energy Ltd was incorporated in 2011 and is based in Ashdod, Israel.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

OY Nofar Energy Ltd reported revenue of 311M ILS in FY2025 versus 361M ILS in FY2021, a compound −3.6%/yr. Reported net income was 90.1M ILS in FY2025, compounding +112.9%/yr from FY2021.

Growth Quality 36/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
311M ILS
Latest YoY
−0.6%
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.
−1.4%
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.
+7.7%
Avg. revenue growth/yr (8Y) 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.
+28.1%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+68.5% (68.5 + 0.0)
Revenue −3.6%/yr
FY21 361M ILS
FY22 325M ILS
FY23 321M ILS
FY24 313M ILS
FY25 311M ILS
Net income +112.9%/yr
FY21 4.4M ILS
FY22 154M ILS
FY23 −88.7M ILS
FY24 −26.9M ILS
FY25 90.1M ILS

NOFR screens 329% overvalued. Compare with China Yangtze Power Co →

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Cite: Fair Value Calculator (2026). "OY Nofar Energy Ltd Fair Value". https://www.fairvalue-calculator.com/stock/NOFR

Peer Group

Utilities - Renewable · 213 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 19 · Bottom 25%
Fair Value upside −77% · Bottom 25%
Return on equity (TTM) 1% · Below median
Return on assets −1% · Bottom 25%
Net margin (TTM) 18% · Top 25%
Operating margin (TTM) −26% · Bottom 25%
Revenue growth 39% · Top 25%
Debt / equity 1.81× · Higher than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/E (TTM) 104.0× · Pricier than 75% of peers
P/B 1.47× · Pricier than median
P/S (TTM) 8.01× · Pricier 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 6
FUTURE100 · sector 0
PAST4 · sector 14
HEALTH10 · sector 68
DIVIDEND0 · sector 44

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

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 Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 23, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥27.96 ¥25.13 −10%
Ørsted A/S ORSTED kr 139.25 kr 31.40 −77%
Huaneng Lancang River Hydropower Inc 600025 ¥9.79 ¥5.57 −43%
Adani Green Energy Limited ADANIGREEN ₹1,319 ₹169.61 −87%
AXIA Energia SA AXIAP $10.74 $9.49 −12%
VERBUND AG OEWA €57.00 €66.19 +16%
BEP BEP $31.27 $70.40 +125%
BEPUN BEPUN C$45.05 C$42.83 −5%
Fortum Oyj FORTUM €19.80 €13.55 −32%
China Longyuan Power Group 001289 ¥15.92 ¥7.55 −53%

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Frequently asked questions

Is OY Nofar Energy Ltd (NOFR) overvalued or undervalued?
As of Aug 23, 2026, our model estimates a fair value of 40.00 ILA versus a price of 171.60 ILA, about −77% upside (overvalued).
What is the fair value of NOFR?
Our model-based fair value for OY Nofar Energy Ltd is 40.00 ILA (as of Aug 23, 2026), built from audited fundamentals. The current price: 171.60 ILA.
What is the quality score of NOFR?
OY Nofar Energy Ltd has a Quality Score of 19/100. 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 OY Nofar Energy Ltd (NOFR)?
OY Nofar Energy Ltd reported trailing-twelve-month revenue of about 318M ILS (latest available figure, as of Aug 23, 2026).
What is the net profit margin of NOFR?
The net profit margin of OY Nofar Energy Ltd is about 28.4%, meaning it keeps roughly 28.4% of revenue as net income. Based on the latest reported figures.
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