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Partner (PTNR) Fair Value & Analysis

Communication Services · Il · Market cap 7.1B ILA · ISIN IL0010834849

What is Partner really worth?

P Partner PTNR · TA
Price39.40 ILA
Fair Value32.92 ILA
Upside−16.5%
Quality63/100

A solid business, but trading 20% above our fair value of 32.92 ILA.

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Strengths

Low debt · generates free cash flow
Ranks above peers (10/14)

Risks

!Weak Growth (revenue 5y +0.1 %/yr)
!Thin margins · 9.9% net margin
!Moderate moat 53/100
!Weak on valuation: 11 out of 100

For context

·6.29% dividend yield
Evidence: High Range 23.78 ILA – 42.06 ILA

Fair value as of: Aug 22, 2026

From 24 valuation models · updated 14 days ago

Share price +6.5% over the past month.

What runs behind every stock

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

What matters now

  • Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The price sits in the upper half of our model range, so the margin of safety is thin.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

43.30 ILA 10.46 ILA Fair Value 32.92 ILA Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 22, 2026.

How to read this chart

60‑month range 10.46 ILA – 43.30 ILA · fair‑value band 23.78 ILA – 42.06 ILA · the 39.40 ILA price screens above the 32.92 ILA fair value. Dashed = 300-day average. As of Aug 22, 2026.

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Analysis

Partner (PTNR) currently trades at 39.40 ILA, while our model-based Fair Value estimate is 32.92 ILA, implying the stock looks roughly 19.7% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Communication Services sector. Bull case: the DCF Models group reads highest at a median of 38.50 ILA per share, and 6 of the 24 models we run sit above the 39.40 ILA price. Bear case: the Asset-Based group reads lowest at 8.29 ILA, and 18 of the 24 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Partner generated revenue of 3.2B ILA at a net margin of 9.9%. Revenue declined 4.9% year over year. It earns a return on equity of 15.7%. Net debt stands at 686M ILA. Fundamentals as of Aug 22, 2026

Our scenario range runs from 23.78 ILA (bear case) to 42.06 ILA (bull case); at 39.40 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 Communication Services peers we cover trades at 30% fair-value upside, at −16%, PTNR screens richer than that median.

Fair Value models

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
FCF DCF 33.92 ILA 46.18 ILA 68.17 ILA 80
Growth DCF 35.34 ILA 47.15 ILA 66.71 ILA 79
Owner Earnings 38.90 ILA 52.98 ILA 78.25 ILA 76
All 24 models by family
DCF Models
FCF DCF 33.92 ILA 46.18 ILA 68.17 ILA 80
Owner Earnings 38.90 ILA 52.98 ILA 78.25 ILA 76
5Y Revenue Exit 25.25 ILA 34.55 ILA 48.01 ILA 73
5Y EBITDA Exit 43.71 ILA 66.49 ILA 96.66 ILA 75
5Y P/E Exit 27.54 ILA 38.50 ILA 51.65 ILA 71
10Y Revenue Exit 28.00 ILA 35.12 ILA 42.56 ILA 68
10Y EBITDA Exit 39.48 ILA 54.43 ILA 70.47 ILA 69
10Y P/E Exit 29.88 ILA 37.51 ILA 44.65 ILA 65
Earnings-Based
Graham-Dodd 11.02 ILA 13.46 ILA 15.15 ILA 67
EPV 16.50 ILA 19.04 ILA 21.23 ILA 74
Dividend Discount
Gordon GGM 11.70 ILA 12.75 ILA 14.34 ILA 69
DDM Multi-Stage 11.70 ILA 14.46 ILA 18.22 ILA 67
Multiples
P/E Multiple 26.73 ILA 35.64 ILA 44.55 ILA 63
P/S Multiple 20.65 ILA 27.54 ILA 34.42 ILA 58
P/B Multiple 20.65 ILA 27.54 ILA 34.42 ILA 55
EV/EBIT 27.85 ILA 36.99 ILA 46.14 ILA 66
EV/EBITDA 58.59 ILA 77.98 ILA 97.37 ILA 67
EV/Revenue 21.22 ILA 30.13 ILA 39.05 ILA 53
Asset-Based
NCAV (Graham) 6.19 ILA 8.29 ILA 12.37 ILA 54
Growth DCF
Growth DCF 35.34 ILA 47.15 ILA 66.71 ILA 79
Rev-Margin DCF 25.25 ILA 35.36 ILA 47.97 ILA 73
Economic Profit
Residual Income 11.66 ILA 13.63 ILA 22.21 ILA 74
ROIC Compounder 16.50 ILA 19.65 ILA 22.92 ILA 72
Growth Earnings
Growth-Adj P/E 18.84 ILA 26.92 ILA 34.99 ILA 67

Widest divergence: DCF Models (38.50 ILA) versus Asset-Based (8.29 ILA). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 23.7
P/S ratio 2.25 P/E × margin
EPS (TTM) 1.66 ILA price ÷ EPS = P/E 23.7
Dividend yield 6.3% payout 149%
Net margin 9.5% FY2025
Return on equity 15.7% TTM
More key figures
Profitability
Return on assets (EBIT) 5.2% avg 5y
Operating margin 13.9% TTM
Growth
Revenue (TTM) 3.2B ILA TTM
Revenue growth (YoY) −4.9% 3y avg −2.6%
EPS growth (YoY) +14.7%
Balance sheet & cash flow
Free cash flow 679M ILA FY2025
Net debt 686M ILA FY2025 · ≈ 1.0 yrs of FCF

Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 63/100

Of which business quality 65 · Market factors (momentum, volatility) 63

Profitability 45
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 86
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 71
Distance to the 52-week high (market factor)
Net Issuance 73
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

Partner Communications Company Ltd. provides various communication services in Israel. The company offers mobile cellular, fixed-line, and international telephony; internet and TV services; transmission; data communications; and PRI, as well as Partner TV and optic fiber infrastructure.

Full company description

Partner Communications Company Ltd. provides various communication services in Israel. The company offers mobile cellular, fixed-line, and international telephony; internet and TV services; transmission; data communications; and PRI, as well as Partner TV and optic fiber infrastructure. It also provides cellular communication services, including voice call, text messages, internet browsing, and data transfer; value-added services, such as device repair; multimedia messages, voicemail, cyber protection, cloud backup, and pantone services; and MyGuard antivirus. In addition, the company offers email accounts, routers, anti-virus, and website filtering; network and data infrastructure services, information security, integration solutions, dedicated services, business information storage services, and data center and cloud services; and broadcasting services. Further, the company provides broadband fiber optic infrastructure; and sells electronic equipment and terminal equipment; and sells various mobile phones, accessories and other electronic equipment, such as tablets, laptops, gaming consoles, speakers, headphones, and smartwatches through physical stores and the website. Additionally, it operates service and sales centers in Israel. Partner Communications Company Ltd. was incorporated in 1997 and is headquartered in Rosh HaAyin, Israel.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Partner reported revenue of 3.2B ILS in FY2025 versus 3.4B ILS in FY2021, a compound −1.2%/yr. Reported net income was 304M ILS in FY2025, compounding +27.5%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
3.2B ILS
Latest YoY
−3.7%
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.
−2.6%
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.
+0.1%
Avg. revenue growth/yr (26Y) 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.
+5.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+40.0% (33.7 + 6.3)
Revenue −1.2%/yr
FY21 3.4B ILS
FY22 3.5B ILS
FY23 3.3B ILS
FY24 3.3B ILS
FY25 3.2B ILS
Net income +27.5%/yr
FY21 115M ILS
FY22 −100M ILS
FY23 163M ILS
FY24 277M ILS
FY25 304M ILS
Character of growth · EPS growth decomposed (2014-2025) +7.7 % p.a.
Revenue per share −3.9 %

of which total revenue −2.1 % · buybacks/dilution −1.9 %

EBIT margin +4.5 %
Tax rate +1.7 %
Residual (interest, one-offs) +5.5 %

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).

PTNR screens 20% overvalued. Compare with China Mobile Limited →

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Cite: Fair Value Calculator (2026). "Partner Fair Value". https://www.fairvalue-calculator.com/stock/PTNR

Peer Group

Telecom Services · 248 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 63 · Top 25%
Fair Value upside −16% · Below median
Return on equity (TTM) 16% · Above median
Return on assets 6% · Top 25%
Net margin (TTM) 10% · Above median
Operating margin (TTM) 14% · Above median
Revenue growth −5% · Bottom 25%
Dividend yield (TTM) 6.3% · Top 25%
Debt / equity 0.25× · Higher than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 23.7× · Pricier than median
P/B 1.02× · Cheaper than median
P/S (TTM) 0.75× · Cheaper than median
P/FCF 3.5× · Cheaper than median
EV/EBITDA 2.7× · 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
VALUE11 · sector 28
FUTURE0 · sector 16
PAST63 · sector 28
HEALTH87 · sector 89
DIVIDEND100 · sector 76

Insider activity: 30/100

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 Telecom Services stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥96.11 ¥109.88 +14%
T-Mobile US, Inc TMUS $177.75 $172.67 −3%
Verizon Communications Inc VZ $49.43 $64.43 +30%
AT&T Inc T $26.01 $43.97 +69%
Bharti Airtel Limited BHARTIARTL ₹1,935 ₹941.48 −51%
Comcast Corporation CMCSA $26.41 $95.42 +261%
China Telecom Corporation 601728 ¥6.43 ¥8.36 +30%
América Móvil, S.A. AMX $23.50 $39.45 +68%
Singapore Telecommunications Limited Z77 4.29 SGD 3.03 SGD −29%
Swisscom AG SCMN CHF 627.50 CHF 463.92 −26%

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Frequently asked questions

Is Partner (PTNR) overvalued or undervalued?
As of Aug 22, 2026, our model estimates a fair value of 32.92 ILA versus a price of 39.40 ILA, about −16% upside (overvalued).
What is the fair value of PTNR?
Our model-based fair value for Partner is 32.92 ILA (as of Aug 22, 2026), built from audited fundamentals. The current price: 39.40 ILA.
What is the quality score of PTNR?
Partner has a Quality Score of 63/100. 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 Partner (PTNR)?
Partner reported trailing-twelve-month revenue of about 3.2B ILS (latest available figure, as of Aug 22, 2026).
What is the net profit margin of PTNR?
The net profit margin of Partner is about 9.9%, meaning it keeps roughly 9.9% of revenue as net income. Based on the latest reported figures.
Does Partner pay a dividend?
Partner currently shows a dividend yield of about 6.29% relative to its recent price (as of Aug 22, 2026).
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