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Afcon Holdings (AFHL) Fair Value & Analysis

Technology · Il · Market cap 3.0B ILA

AH Afcon Holdings AFHL · TA
Price502.00 ILA
Fair Value187.51 ILA
Upside-62.6%
Quality49/100
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Mixed Growth
Thin margins · 5.3% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (8/14)
Moderate moat 47/100
Evidence: High Range 103.19 ILA – 291.40 ILA Share as image

Fair value as of: Jul 11, 2026

From 25 valuation models · updated 29 days ago

Fair value updated Jul 11, 2026, revised from 191.38 ILA to 187.51 ILA (−2.0%) since Jun 24, 2026. Share price +3.1% over the past month.

Below-average quality, and screening another 63% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (291.40 ILA). The favourable scenario is already priced in.
  • The model range is unusually wide (103.19 ILA to 291.40 ILA). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (49/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

564.52 ILA 69.68 ILA Fair Value 187.51 ILA Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range 69.68 ILA – 564.52 ILA · fair‑value band 103.19 ILA – 291.40 ILA · the 502.00 ILA price screens above the 187.51 ILA fair value. Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Afcon Holdings (AFHL) currently trades at 502.00 ILA, while our model-based Fair Value estimate is 187.51 ILA, implying the stock looks roughly 62.6% overvalued today. The Quality Score stands at 49/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Afcon Holdings generated revenue of 1.7B ILA at a net margin of 5.3%. Revenue declined 4.8% year over year. It earns a return on equity of 15.4%. Net debt stands at 482M ILA. Fundamentals as of Jul 11, 2026

Our scenario range runs from 103.19 ILA (bear case) to 291.40 ILA (bull case); at 502.00 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 Technology peers we cover trades at -73% fair-value upside, at -63%, AFHL screens cheaper 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 BearBaseBull Evidence
Highest evidence
Growth DCF 37.73 ILA 70.76 ILA 114.45 ILA 80
Residual Income 103.19 ILA 118.98 ILA 218.95 ILA 76
Rev-Margin DCF 95.59 ILA 187.02 ILA 285.84 ILA 74
All 25 models by family
DCF Models
FCF DCF 35.85 ILA 72.08 ILA 122.40 ILA 38
Owner Earnings 172.32 ILA 268.66 ILA 402.50 ILA 31
5Y Revenue Exit 95.59 ILA 187.51 ILA 303.01 ILA 39
5Y EBITDA Exit 154.30 ILA 293.18 ILA 451.30 ILA 41
5Y P/E Exit 99.72 ILA 194.94 ILA 291.40 ILA 38
10Y Revenue Exit 66.49 ILA 143.12 ILA 241.89 ILA 36
10Y EBITDA Exit 107.79 ILA 213.39 ILA 348.68 ILA 37
10Y P/E Exit 74.28 ILA 148.06 ILA 233.54 ILA 35
Earnings-Based
Graham-Dodd 90.55 ILA 229.15 ILA 297.78 ILA 54
PEG = 1.0 42.41 ILA 60.59 ILA 78.76 ILA 46
EPV 123.32 ILA 150.11 ILA 173.23 ILA 59
Dividend Discount
Gordon GGM 30.39 ILA 56.09 ILA 89.71 ILA 70
DDM Multi-Stage 30.39 ILA 45.44 ILA 61.06 ILA 61
Multiples
P/E Multiple 209.72 ILA 279.63 ILA 349.54 ILA 63
P/S Multiple 169.78 ILA 226.37 ILA 282.96 ILA 58
P/B Multiple 169.78 ILA 226.37 ILA 282.96 ILA 55
EV/EBIT 218.07 ILA 306.21 ILA 394.36 ILA 53
EV/EBITDA 262.50 ILA 365.47 ILA 468.43 ILA 54
EV/Revenue 142.36 ILA 223.25 ILA 304.14 ILA 43
Asset-Based
NCAV (Graham) 57.12 ILA 76.54 ILA 114.24 ILA 50
Growth DCF
Growth DCF 37.73 ILA 70.76 ILA 114.45 ILA 80
Rev-Margin DCF 95.59 ILA 187.02 ILA 285.84 ILA 74
Economic Profit
Residual Income 103.19 ILA 118.98 ILA 218.95 ILA 76
ROIC Compounder 124.93 ILA 162.50 ILA 205.95 ILA 72
Growth Earnings
Growth-Adj P/E 162.21 ILA 231.73 ILA 301.25 ILA 68

Widest divergence: Growth Earnings (231.73 ILA) versus Dividend Discount (45.44 ILA). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 1.7B ILA
Revenue growth (YoY) -4.8%
Net margin 5.3%
Return on equity 15.4%
Free cash flow 46.2M ILA FY2025
P/E ratio 33.9
More key figures
Operating margin 9.5%
EPS (TTM) 15.19 ILA
Dividend yield 0.0%
EPS growth (YoY) +72.1%
Net debt 482M ILA FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 47 · Market factors (momentum, volatility) 89

Profitability 38
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 34
Earnings quality: real cash, not paper profit
Fin. Strength 48
Balance sheet, leverage, solvency risk
Investment 71
Disciplined investing over empire-building
Low Volatility 70
Calm price path (market factor)
Momentum 96
Price trend over the last 3–12 months (market factor)
52W Momentum 99
Distance to the 52-week high (market factor)
Net Issuance 65
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

Afcon Holdings Ltd develops and executes solutions for construction projects in Israel and internationally. It provides electric charging solutions; generates electricity from wind energies; delivers hybrid systems and technological solutions for dealing with water and wastewater; and markets, sells, installs, and maintains green technologies.

Full company description

Afcon Holdings Ltd develops and executes solutions for construction projects in Israel and internationally. It provides electric charging solutions; generates electricity from wind energies; delivers hybrid systems and technological solutions for dealing with water and wastewater; and markets, sells, installs, and maintains green technologies. The company also conducts projects in the field of end-to-end communication solutions and security systems, as well as in energy storage and renewable energies; installs multimedia and low-voltage; and develops and delivers communication services, infrastructure, and telecom solutions. In addition, it plans and installs fire detection and extinguishing systems; provides technological solutions and products for very low voltage, control, and automation; conducts integrative security-related projects; technology-enhanced projects for electromechanical systems; and develops, produces, and installs peripheral electronic security and protection systems using advanced technologies. Further, the company set up and maintain parking system projects; develops solutions in monitoring and control systems; radars for securing open-space facilities; deals with construction and civil engineering and electro-mechanical systems; provides electricity, air conditioning, plumbing, cooling, and low voltage electricity services; and manufactures electric boards for high voltage gas-insulated switchgears (GIS) and air-insulated switchgears (AIS), and for low voltage. Additionally, it markets and distributes switching, control, communications, and electrical installation, as well as communication products; provides consultancy services and technical solutions; air conditioning and ventilation systems services; and develops and executes concession projects. The company was formerly known as Afcon Industries Group. The company was founded in 1945 and is based in Petah Tikva, Israel. Afcon Holdings Ltd operates as a subsidiary of Shlomo Group.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Afcon Holdings reported revenue of 1.7B ILA in FY2025 versus 2.1B ILA in FY2021, a compound −5.5%/yr. Reported net income was 77.0M ILA in FY2025, compounding −10.4%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
1.7B ILS
Latest YoY
−5.6%
Avg. growth/yr (3Y)
−7.0%
Avg. growth/yr (5Y)
−0.6%
Avg. growth/yr (25Y)
+4.4%
Revenue −5.5%/yr
FY21 2.1B ILA
FY22 2.1B ILA
FY23 2.2B ILA
FY24 1.8B ILA
FY25 1.7B ILA
Net income −10.4%/yr
FY21 119M ILA
FY22 −53.8M ILA
FY23 −8.6M ILA
FY24 59.8M ILA
FY25 77.0M ILA

AFHL screens 63% overvalued. Compare with Delta Electronics, Inc →

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Cite: Fair Value Calculator (2026). "Afcon Holdings Fair Value". https://www.fairvalue-calculator.com/stock/AFHL

Peer Group

Electronic Components · 626 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 49 · Below median
Fair Value upside −63% · Below median
Return on equity (TTM) 15% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 10% · Above median
Revenue growth -5% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.83× · Higher than 75% of peers

Valuation Multiples vs Electronic Components median · lower = cheaper

P/E (TTM) 33.9× · Cheaper than median
P/B 1.47× · Cheaper than median
P/S (TTM) 0.59× · Cheaper than median
P/FCF 21.1× · Pricier than 75% of peers
EV/EBITDA 8.3× · 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 0 · sector 0
FUTURE 0 · sector 32
PAST 62 · sector 24
HEALTH 58 · sector 95
DIVIDEND 0 · sector 25

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

Insider activity: 45/100

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 Electronic Components stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Delta Electronics, Inc 2308 1,880 TWD 515.23 TWD -73%
Hon Hai Precision Industry Co 2317 242.50 TWD 270.47 TWD +12%
Luxshare Precision Industry Co 002475 ¥62.14 ¥38.44 -38%
Samsung Electro-Mechanics Co 009150 1,260,000 KRW 166,421 KRW -87%
Elite Material Co 2383 4,990 TWD 714.36 TWD -86%
Yageo Corporation 2327 699.00 TWD 216.55 TWD -69%
Shengyi Technology Co 600183 ¥132.29 ¥27.45 -79%
Shennan Circuits Co 002916 ¥364.00 ¥93.50 -74%
Victory Giant Technology (HuiZhou) Co 2476 HK$297.00 HK$103.98 -65%
Wus Printed Circuit (Kunshan) Co 002463 ¥127.80 ¥31.95 -75%

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Frequently asked questions

Is Afcon Holdings (AFHL) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 187.51 ILA versus a price of 502.00 ILA, about −63% (overvalued).
What is the fair value of AFHL?
Our model-based fair value for Afcon Holdings is 187.51 ILA (as of Jul 11, 2026), built from audited fundamentals. The current price is 502.00 ILA.
What is the quality score of AFHL?
Afcon Holdings has a Quality Score of 49/100. 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 Afcon Holdings (AFHL)?
Afcon Holdings reported trailing-twelve-month revenue of about 1.7B ILS (latest available figure, as of Jul 11, 2026).
What is the net profit margin of AFHL?
The net profit margin of Afcon Holdings is about 5.3%, meaning it keeps roughly 5.3% of revenue as net income. Based on the latest reported figures.
Does Afcon Holdings pay a dividend?
Afcon Holdings currently shows a dividend yield of about 0.02% relative to its recent price (as of Jul 11, 2026).

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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