Cash flow Maslavi Construction Company Ltd

Stocks

MSLA

IL0011067498

Homebuilding

Market Closed - TEL AVIV STOCK EXCHANGE 10:29:06 2026-09-10 EDT			5-day change	1st Jan Change
1,197.00 ^ILa	-1.80%		-5.23%	-21.51%

08-31	Maslavi Construction Company Ltd Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-26	Maslavi Construction Company Ltd Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

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Published financial data: MASLAVI CONSTRUCTION COMPANY LTD

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (ILS)	2022 (ILS)	2023 (ILS)	2024 (ILS)	2025 (ILS)
Revenues	153M	154M	223M	314M	319M
Other Revenues, Total	-27K	-	-	-	-
Total Revenues	153M	154M	223M	314M	319M
Cost of Goods Sold, Total	111M	117M	179M	249M	251M
Gross Profit	41.56M	36.94M	43.88M	64.66M	68.01M
Selling General & Admin Expenses, Total	15.65M	14.16M	16.92M	20.01M	21.48M
Other Operating Expenses	-	-	-	-430K	149K
Other Operating Expenses, Total	15.65M	14.16M	16.92M	19.58M	21.63M
Operating Income	25.91M	22.78M	26.95M	45.09M	46.38M
Interest Expense, Total	-5.01M	-8.94M	-11.68M	-11.65M	-23.08M
Interest And Investment Income	1.18M	4.08M	7.18M	7.59M	8.98M
Net Interest Expenses	-3.84M	-4.86M	-4.5M	-4.06M	-14.1M
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-2.36M	-1.91M	-1.08M	-2.45M	-2.66M
EBT, Excl. Unusual Items	19.71M	16.02M	21.37M	38.58M	29.62M
Gain (Loss) On Sale Of Assets	-	-73K	239K	-	-
Asset Writedown	2.66M	-228K	-163K	-1.02M	-446K
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	22.36M	15.72M	21.45M	37.56M	29.17M
Income Tax Expense	-1.15M	2.18M	1.52M	248K	1M
Earnings From Continuing Operations	23.52M	13.54M	19.93M	37.31M	28.17M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	23.52M	13.54M	19.93M	37.31M	28.17M
Net Income - (IS)	23.52M	13.54M	19.93M	37.31M	28.17M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	23.52M	13.54M	19.93M	37.31M	28.17M
Net Income to Common Excl. Extra Items	23.52M	13.54M	19.93M	37.31M	28.17M
Per Share Items
Net EPS - Basic	1.09	0.62	0.9	1.69	1.27
Basic EPS - Continuing Operations	1.09	0.62	0.9	1.69	1.27
Basic Weighted Average Shares Outstanding	21.61M	21.75M	22.1M	22.1M	22.1M
Net EPS - Diluted	1.05	0.6	0.85	1.56	1.2
Diluted EPS - Continuing Operations	1.05	0.6	0.85	1.56	1.2
Diluted Weighted Average Shares Outstanding	22.65M	25.35M	25.41M	24.52M	22.1M
Normalized Basic EPS	0.57	0.46	0.6	1.09	0.84
Normalized Diluted EPS	0.54	0.39	0.53	0.98	0.84
Dividend Per Share	0.46	0.54	0.49	-	-
Payout Ratio	33.91	11.28	60.22	29.48	-
Supplemental Items
EBITDA	26.66M	23.69M	28.33M	47.16M	50.51M
EBITA	25.91M	22.78M	26.95M	45.09M	46.38M
EBIT	25.91M	22.78M	26.95M	45.09M	46.38M
EBITDAR	27.3M	24.37M	28.97M	47.79M	51.09M
Total Revenues (As Reported)	153M	154M	223M	314M	319M
Effective Tax Rate - (Ratio)	-5.14	13.87	7.1	0.66	3.45
Current Domestic Taxes	-	-	-	-	-
Total Current Taxes	-	120K	120K	120K	120K
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-1.27M	2.06M	1.4M	128K	885K
Normalized Net Income	12.32M	10.01M	13.36M	24.11M	18.51M
Interest on Long-Term Debt	8.88M	9.1M	5.31M	4.51M	10.04M
Supplemental Operating Expense Items
Advertising Expense	361K	866K	524K	594K	594K
Selling and Marketing Expenses	1.68M	1.74M	1.68M	2.49M	4.72M
General and Administrative Expenses	13.98M	12.42M	15.24M	17.52M	16.76M
Net Rental Expense, Total	634K	680K	646K	632K	579K
Imputed Operating Lease Interest Expense	146K	225K	270K	184K	247K
Imputed Operating Lease Depreciation	488K	455K	376K	448K	332K
Maintenance & Repair Expenses, Total	1.15M	1.21M	958K	1.81M	2.05M
Stock-Based Comp., Other (Total)	-	-	-	879K	1.59M
Total Stock-Based Compensation	-	-	-	879K	1.59M

Fiscal Period: December	2021 (ILS)	2022 (ILS)	2023 (ILS)	2024 (ILS)	2025 (ILS)
Assets
Cash And Equivalents	85.01M	72.08M	81.04M	34.84M	17.59M
Total Cash And Short Term Investments	85.01M	72.08M	81.04M	34.84M	17.59M
Accounts Receivable, Total	92.76M	3.05M	37.1M	123M	173M
Other Receivables	39K	1.69M	3.9M	115K	15.22M
Notes Receivable	97K	99K	66K	2.89M	2.87M
Total Receivables	92.9M	4.84M	41.06M	126M	191M
Inventory	133M	222M	219M	203M	311M
Restricted Cash	24.35M	102M	4.19M	25.38M	4.65M
Other Current Assets, Total	24.64M	16.79M	7.86M	97.2M	68.26M
Total Current Assets	360M	417M	353M	487M	593M
Gross Property Plant And Equipment	40.57M	43.2M	46.73M	52.85M	57M
Accumulated Depreciation	-34.48M	-35.59M	-36.88M	-38.96M	-42.32M
Net Property Plant And Equipment	6.09M	7.61M	9.84M	13.89M	14.68M
Accounts Receivable Long-Term	13.83M	13.19M	12.5M	12.85M	12.18M
Deferred Tax Assets Long-Term	10.06M	8M	6.6M	6.45M	5.53M
Other Long-Term Assets, Total	99.74M	153M	170M	184M	187M
Total Assets	489M	599M	552M	704M	812M
Liabilities
Accounts Payable, Total	1.51M	15M	9.98M	10.82M	13.49M
Accrued Expenses, Total	98.79M	134M	105M	64.84M	94.02M
Short-term Borrowings	32.2M	79.88M	127M	217M	229M
Current Portion of Long-Term Debt	25.21M	18.42M	25.46M	16.1M	76.78M
Current Portion of Leases	640K	495K	520K	643K	541K
Unearned Revenue Current, Total	21.87M	82.27M	31.44M	30.07M	10.71M
Other Current Liabilities	8.93M	8.59M	9M	11.34M	12.76M
Total Current Liabilities	189M	339M	308M	351M	437M
Long-Term Debt	165M	110M	84.9M	166M	159M
Long-Term Leases	558K	314K	597K	661K	179K
Pension & Other Post Retirement Benefits	1.58M	1.14M	1.24M	1.14M	848K
Total Liabilities	356M	450M	394M	519M	597M
Common Stock, Total	4.41M	4.92M	5.42M	5.42M	5.42M
Additional Paid In Capital	97.24M	98.76M	101M	102M	102M
Retained Earnings	26.98M	40.93M	48.73M	75.18M	104M
Treasury Stock	-3.52M	-3.52M	-4.17M	-4.17M	-4.17M
Comprehensive Income and Other	7.93M	7.93M	7.14M	6.35M	8.82M
Total Common Equity	133M	149M	158M	185M	215M
Total Equity	133M	149M	158M	185M	215M
Total Liabilities And Equity	489M	599M	552M	704M	812M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	21.61M	22.11M	22.56M	22.56M	22.56M
ECS Total Common Shares Outstanding	21.61M	22.11M	22.56M	22.56M	22.56M
Book Value / Share	6.16	6.74	7	8.21	9.54
Tangible Book Value	133M	149M	158M	185M	215M
Tangible Book Value Per Share	6.16	6.74	7	8.21	9.54
Total Debt	224M	209M	238M	401M	465M
Net Debt	139M	137M	157M	366M	447M
Debt Equivalent Oper. Leases	5.07M	5.44M	5.17M	5.06M	4.63M
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	133M	222M	219M	203M	311M
Buildings, Total	399K	399K	399K	10.71M	10.71M
Machinery, Total	27.41M	29.76M	32.11M	37.13M	41.27M
Full Time Employees	36	37	45	51	52

Fiscal Period: December	2021 (ILS)	2022 (ILS)	2023 (ILS)	2024 (ILS)	2025 (ILS)
Net Income	23.52M	13.54M	19.93M	37.31M	28.17M
Depreciation & Amortization - CF	1.39M	1.58M	2.02M	2.71M	4.71M
Depreciation & Amortization, Total	1.39M	1.58M	2.02M	2.71M	4.71M
(Gain) Loss From Sale Of Asset	-122K	-27K	-339K	-60K	-
Asset Writedown & Restructuring Costs	-2.53M	228K	163K	1.02M	446K
Stock-Based Compensation (CF)	-	-	-	879K	1.59M
Other Operating Activities, Total	-8.52M	-8.12M	-135K	-4.69M	-7.85M
Change In Accounts Receivable	-62.51M	89.76M	-33.99M	-85.69M	-50.54M
Change In Inventories	37.62M	-22.27M	6.55M	16.34M	-36.11M
Change In Accounts Payable	2.6M	10.49M	8.18M	11.67M	-5.36M
Change in Unearned Revenues	7.49M	60.4M	-50.83M	-1.37M	-19.36M
Change in Other Net Operating Assets	-18.73M	-75.44M	-38.84M	-39.42M	-34.64M
Cash from Operations	-19.8M	70.14M	-87.3M	-61.3M	-119M
Capital Expenditure	-1.12M	-3.28M	-4.39M	-5.35M	-4.15M
Sale of Property, Plant, and Equipment	122K	491K	1.42M	1.2M	-
Sale (Purchase) of Real Estate properties	-414K	14.75M	-818K	-1.34M	308K
Net (Increase) Decrease in Loans Originated / Sold - Investing	1.66M	1.66M	636K	884K	738K
Other Investing Activities, Total	26.66M	-84.48M	106M	-112M	42.94M
Cash from Investing	26.9M	-70.86M	103M	-116M	39.84M
Short Term Debt Issued, Total	98K	50.68M	23.81M	74.07M	53.35M
Long-Term Debt Issued, Total	97.8M	19.83M	-	92.45M	23.66M
Total Debt Issued	97.89M	70.51M	23.81M	167M	77M
Short Term Debt Repaid, Total	-49K	-	-	-	-
Long-Term Debt Repaid, Total	-14.08M	-83.22M	-19.64M	-24.27M	-15.14M
Total Debt Repaid	-14.13M	-83.22M	-19.64M	-24.27M	-15.14M
Issuance of Common Stock	-	2.03M	1.76M	-	-
Repurchase of Common Stock	-	-	-652K	-	-
Common Dividends Paid	-7.97M	-1.53M	-12M	-11M	-
Common & Preferred Stock Dividends Paid	-7.97M	-1.53M	-12M	-11M	-
Cash from Financing	75.79M	-12.21M	-6.72M	131M	61.86M
Miscellaneous Cash Flow Adjustments	-	-	-	1K	-
Net Change in Cash	82.89M	-12.93M	8.96M	-46.2M	-17.25M
Supplemental Items
Cash Interest Paid	11.17M	13.36M	7.16M	6.78M	11.81M
Cash Income Tax Paid (Refund)	120K	120K	120K	120K	120K
Levered Free Cash Flow	-16.11M	45.25M	-4.62M	-199M	-92.28M
Unlevered Free Cash Flow	-12.97M	50.83M	2.68M	-191M	-77.85M
Change In Net Working Capital	29.44M	-38.28M	11.8M	218M	109M
Net Debt Issued / Repaid	83.76M	-12.71M	4.17M	142M	61.86M

Fiscal Period: December	2021 (ILS)	2022 (ILS)	2023 (ILS)	2024 (ILS)	2025 (ILS)
Profitability
Return on Assets	4.13	2.62	2.93	4.49	3.83
Return on Total Capital	5.43	3.99	4.47	5.74	4.58
Return On Equity %	18.95	9.6	12.98	21.74	14.05
Return on Common Equity	18.95	9.6	12.98	21.74	14.05
Margin Analysis
Gross Profit Margin %	27.17	24.03	19.71	20.62	21.3
SG&A Margin	10.23	9.21	7.6	6.38	6.73
EBITDA Margin %	17.43	15.41	12.72	15.04	15.82
EBITA Margin %	16.94	14.82	12.11	14.38	14.53
EBIT Margin %	16.94	14.82	12.11	14.38	14.53
Income From Continuing Operations Margin %	15.38	8.81	8.95	11.9	8.82
Net Income Margin %	15.38	8.81	8.95	11.9	8.82
Net Avail. For Common Margin %	15.38	8.81	8.95	11.9	8.82
Normalized Net Income Margin	8.05	6.51	6	7.69	5.8
Levered Free Cash Flow Margin	-10.53	29.43	-2.08	-63.33	-28.9
Unlevered Free Cash Flow Margin	-8.48	33.07	1.2	-61.01	-24.38
Asset Turnover
Asset Turnover	0.39	0.28	0.39	0.5	0.42
Fixed Assets Turnover	26.02	22.44	25.51	26.43	22.35
Receivables Turnover (Average Receivables)	2.49	3.21	11.09	3.92	2.15
Inventory Turnover (Average Inventory)	1.04	0.66	0.81	1.18	0.98
Short Term Liquidity
Current Ratio	1.9	1.23	1.15	1.39	1.36
Quick Ratio	0.94	0.23	0.4	0.45	0.47
Operating Cash Flow to Current Liabilities	-0.1	0.21	-0.28	-0.17	-0.27
Days Sales Outstanding (Average Receivables)	146.69	113.75	32.91	93.38	169.39
Days Outstanding Inventory (Average Inventory)	349.94	554.07	449.93	310.41	371.36
Average Days Payable Outstanding	4.28	14.63	25.92	16.31	12.27
Cash Conversion Cycle (Average Days)	492.36	653.19	456.92	387.48	528.48
Long Term Solvency
Total Debt/Equity	168.13	140.17	150.81	216.22	215.99
Total Debt / Total Capital	62.7	58.36	60.13	68.38	68.35
LT Debt/Equity	124.5	73.87	54.14	90.2	73.84
Long-Term Debt / Total Capital	46.43	30.76	21.59	28.52	23.37
Total Liabilities / Total Assets	72.82	75.13	71.41	73.69	73.49
EBIT / Interest Expense	5.17	2.55	2.31	3.87	2.01
EBITDA / Interest Expense	5.45	2.73	2.48	4.1	2.21
(EBITDA - Capex) / Interest Expense	5.22	2.36	2.1	3.64	2.03
Total Debt / EBITDA	8.19	8.57	8.22	8.38	9.1
Net Debt / EBITDA	5.08	5.61	5.42	7.65	8.76
Total Debt / (EBITDA - Capex)	8.54	9.9	9.69	9.44	9.9
Net Debt / (EBITDA - Capex)	5.3	6.49	6.39	8.62	9.53
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-0.12	0.51	44.83	40.86	2.2
Gross Profit, 1 Yr. Growth %	33.54	-11.11	18.77	47.38	6.95
EBITDA, 1 Yr. Growth %	59.36	-11.16	19.57	65.1	9.59
EBITA, 1 Yr. Growth %	63.41	-12.05	18.3	65.8	5.37
EBIT, 1 Yr. Growth %	63.41	-12.05	18.3	65.8	5.37
Earnings From Cont. Operations, 1 Yr. Growth %	65.75	-42.43	47.19	87.23	-22.96
Net Income, 1 Yr. Growth %	81.16	-42.43	47.19	87.23	-22.96
Normalized Net Income, 1 Yr. Growth %	80.13	-18.73	33.42	78.52	-21.71
Diluted EPS Before Extra, 1 Yr. Growth %	59.64	-42.39	41.62	82.6	-23.13
Accounts Receivable, 1 Yr. Growth %	207.3	-96.71	1.11K	231.38	41.05
Inventory, 1 Yr. Growth %	64.29	67.06	-1.3	-7.1	55.08
Net Property, Plant and Equip., 1 Yr. Growth %	7.59	24.91	29.33	41.14	5.64
Total Assets, 1 Yr. Growth %	65.99	22.44	-7.83	27.48	15.81
Tangible Book Value, 1 Yr. Growth %	15.48	12.02	5.97	17.31	15.9
Common Equity, 1 Yr. Growth %	15.48	12.02	5.97	17.31	15.9
Cash From Operations, 1 Yr. Growth %	-164.6	-298.39	-222.69	-29.79	94.04
Capital Expenditures, 1 Yr. Growth %	592.55	193.81	33.91	22	-22.52
Levered Free Cash Flow, 1 Yr. Growth %	-139.48	-380.92	-110.21	4.34K	-54.11
Unlevered Free Cash Flow, 1 Yr. Growth %	-129.77	-491.8	-94.73	-6.86K	-59.55
Dividend Per Share, 1 Yr. Growth %	-	17.27	-10.15	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	0.94	0.2	20.65	42.83	19.45
Gross Profit, 2 Yr. CAGR %	20.69	8.95	2.75	32.3	22.11
EBITDA, 2 Yr. CAGR %	35.23	16.75	1.87	39.32	27.76
EBITA, 2 Yr. CAGR %	42.97	19.88	2	40.9	26.62
EBIT, 2 Yr. CAGR %	42.97	19.88	2	40.9	26.62
Earnings From Cont. Operations, 2 Yr. CAGR %	58.4	-2.31	-7.95	66	18.27
Net Income, 2 Yr. CAGR %	64.46	2.13	-7.95	66	18.27
Normalized Net Income, 2 Yr. CAGR %	79.08	21	4.13	55.54	16.5
Diluted EPS Before Extra, 2 Yr. CAGR %	56.11	-4.1	-9.68	60.81	18.47
Accounts Receivable, 2 Yr. CAGR %	45.79	-68.19	-36.76	534.43	116.2
Inventory, 2 Yr. CAGR %	-1.21	65.67	28.41	-4.25	19.16
Net Property, Plant and Equip., 2 Yr. CAGR %	0.5	15.93	27.1	35.1	22.11
Total Assets, 2 Yr. CAGR %	21.28	42.56	6.23	8.4	21.25
Tangible Book Value, 2 Yr. CAGR %	14.27	13.74	8.95	11.5	16.74
Common Equity, 2 Yr. CAGR %	14.27	13.74	8.95	11.5	16.74
Cash From Operations, 2 Yr. CAGR %	-7.43	51.26	59.46	-7.19	16.72
Capital Expenditures, 2 Yr. CAGR %	15.42	351.09	98.36	27.82	-2.77
Levered Free Cash Flow, 2 Yr. CAGR %	460.59	5.32	-46.44	109.62	421.94
Unlevered Free Cash Flow, 2 Yr. CAGR %	73.07	7.99	-54.55	94.1	346.01
Dividend Per Share, 2 Yr. CAGR %	-	-	2.65	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-2.59	0.8	13.29	27.04	27.58
Gross Profit, 3 Yr. CAGR %	84.74	8.99	12.13	15.88	22.56
EBITDA, 3 Yr. CAGR %	76.29	17.56	17.68	19.99	27.63
EBITA, 3 Yr. CAGR %	49.61	21.59	19.35	20.28	26.87
EBIT, 3 Yr. CAGR %	49.61	21.59	19.35	20.28	26.87
Earnings From Cont. Operations, 3 Yr. CAGR %	3.5	13.04	11.99	16.63	27.66
Net Income, 3 Yr. CAGR %	4.64	15.91	15.36	16.63	27.66
Normalized Net Income, 3 Yr. CAGR %	-4.05	37.62	25	25.09	22.92
Diluted EPS Before Extra, 3 Yr. CAGR %	-1.26	11.97	9.21	14.21	25.73
Accounts Receivable, 3 Yr. CAGR %	82.93	-58.79	7.11	9.84	284.34
Inventory, 3 Yr. CAGR %	-1.24	17.7	39.4	15.27	11.91
Net Property, Plant and Equip., 3 Yr. CAGR %	-45.37	8.05	20.23	31.62	24.47
Total Assets, 3 Yr. CAGR %	18.48	21.67	23.27	12.89	10.66
Tangible Book Value, 3 Yr. CAGR %	14.5	13.52	11.09	11.67	13.04
Common Equity, 3 Yr. CAGR %	14.5	13.52	11.09	11.67	13.04
Cash From Operations, 3 Yr. CAGR %	-33.45	44.79	41.74	21.31	18.68
Capital Expenditures, 3 Yr. CAGR %	-26.75	57.59	200.92	68.69	8.18
Levered Free Cash Flow, 3 Yr. CAGR %	-42.2	345.27	-51.62	131.03	26.86
Unlevered Free Cash Flow, 3 Yr. CAGR %	-48	127.25	-60.53	145.23	15.3
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-6.42	-9.66	6.12	15.88	15.83
Gross Profit, 5 Yr. CAGR %	17.1	5.3	46.1	17.78	16.92
EBITDA, 5 Yr. CAGR %	50.46	9.35	42.23	26.46	23.78
EBITA, 5 Yr. CAGR %	114.84	14.61	28.35	28.89	23.95
EBIT, 5 Yr. CAGR %	114.84	14.61	28.35	28.89	23.95
Earnings From Cont. Operations, 5 Yr. CAGR %	-0.01	6.25	-1.24	31.82	14.7
Net Income, 5 Yr. CAGR %	-7.47	3.91	-0.59	33.82	16.76
Normalized Net Income, 5 Yr. CAGR %	-3.5	4.84	-0.86	44.39	22.04
Diluted EPS Before Extra, 5 Yr. CAGR %	-7.95	2.63	-4.72	29.42	12.82
Accounts Receivable, 5 Yr. CAGR %	6.95	-40.91	19.61	23.01	41.85
Inventory, 5 Yr. CAGR %	-13.08	2.37	9.7	8.37	30.92
Net Property, Plant and Equip., 5 Yr. CAGR %	-32.29	-27.65	-23.42	18.15	20.98
Total Assets, 5 Yr. CAGR %	-1.57	7.27	13.42	16.17	22.46
Tangible Book Value, 5 Yr. CAGR %	3.92	8.57	12.25	12.7	13.32
Common Equity, 5 Yr. CAGR %	3.92	8.57	12.25	12.7	13.32
Cash From Operations, 5 Yr. CAGR %	8.44	68.85	5.38	21.54	31.15
Capital Expenditures, 5 Yr. CAGR %	54.91	104.77	9.11	44.93	91.51
Levered Free Cash Flow, 5 Yr. CAGR %	4.37	4.49	-43.94	229.36	17.73
Unlevered Free Cash Flow, 5 Yr. CAGR %	47.52	0.68	-50.73	113.32	12.3