Carmit (CRMT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Carmit stock ILS 28.66, price ILS 16.46, upside +74.1%, quality 61 out of 100. Rating: strongly undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range 6.59 ILS – 28.23 ILS · fair‑value band 22.05 ILS – 36.36 ILS · the 16.46 ILS price screens below the 28.66 ILS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 4, 2026.
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Carmit Candy Industries Ltd. develops, produces, markets, exports, imports, and sells chocolate, pastries, granola and sugars in Israel and internationally.
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It offers chocolate tablet and coins, wafers and cookies, chocolate snacks, melting chocolate, spreads, decorations, granola, marshmallow, frozen snacks, gluten free, no added sugar, and vegan products.
It distributes its products through retail, wholesale, and private channels to confectioneries; bakeries; hotels; event halls; ice cream parlors; restaurants; cafes; institutions; and chocolatiers under the Marabou, Rafael's, Clif Bar, and Carmit brand name.
The company was formerly known as Taste of Israel Ltd. Carmit Candy Industries Ltd. was incorporated in 1973 and is based in Nof HaGalil, Israel.
Stock analysis
Carmit (CRMT) currently trades at 16.46 ILS, while our model-based Fair Value estimate is 28.66 ILS, implying the stock looks roughly 43% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 65.09 ILS per share, and 19 of the 24 models we run sit above the 16.46 ILS price.
Bear case: the Asset-Based group reads lowest at 9.00 ILS, and 5 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 22.05 ILS (bear) to 36.36 ILS (bull), the price of 16.46 ILS sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Carmit reported revenue of 306M ILS in FY2025 versus 179M ILS in FY2021, a compound +14.4%/yr. Reported net income was 5.4M ILS in FY2025.
Key figures
Market cap 92.0M ILS Micro · P/E ratio 12.2 · P/S ratio 0.31 · EPS (TTM) 1.35 ILS · Net margin 2.5% · Return on equity 10.1% · Return on assets (EBIT) 2.8% (5-year average) · Operating margin 5.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).
What moves the price
The share trades about 42% below its 52-week high and 51% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −8% fair-value upside, at 74%, CRMT screens cheaper than that median.
Fair Value models
Bear22.05 ILSFair Value 28.66 ILSBull36.36 ILS
Price 16.46 ILS · Upside +74.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (1.16 ILS per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.84/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.1%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+11.0%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+13.6%
Start year 2020 (pandemic). Over 10 years: +9.1% a year
Revenue growth 22 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+5.8%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
−4.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.0%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−3.0% vs 6.6%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.3% → 6%
2025 sits 867% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.4%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Israel: IMF forecast 2.1% a year to 2030, 1.7% from 2016 to 2025) that is about −3.4% a year for the price.
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Confectioners · 80 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score61 · Top 25%
Fair Value upside+74.1% · Top 25%
Profitability
Return on equity (12 months)10.1% · Above median
Return on assets1.9% · Below median
Net margin (12 months)2.5% · Below median
Operating margin (12 months)5.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)−3.9% · Below median
Dividend yield (12 months)0.0% · Bottom 25%
Balance sheet
Debt / equity0.64× · Highest 25%
Valuation Multiplesvs Confectioners median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Carmit Fair Value". https://www.fairvalue-calculator.com/stock/CRMT
Frequently asked questions
Is Carmit (CRMT) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of 28.66 ILS versus a price of 16.46 ILS, about +74% upside (undervalued).
What is the fair value of CRMT?
Our model-based fair value for Carmit is 28.66 ILS (as of Nov 4, 2026), built from audited fundamentals. The current price: 16.46 ILS.
What is the quality score of CRMT?
Carmit has a Quality Score of 61/100. 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 price target for Carmit (CRMT)?
Our model-based price target is the fair value of 28.66 ILS (as of Nov 4, 2026) from 24 valuation models. Cautious scenario 22.05 ILS, optimistic scenario 36.36 ILS. It is a calculation from audited fundamentals, not an analyst target.
What is the Carmit stock forecast for 2026?
Our models put fair value at 28.66 ILS, about +74% upside versus a price of 16.46 ILS (undervalued). Cautious scenario 22.05 ILS, optimistic scenario 36.36 ILS. The calculation is refreshed regularly with new filings.
What is the revenue of Carmit (CRMT)?
Carmit reported trailing-twelve-month revenue of about 299M ILS (latest available figure, as of Nov 4, 2026).
What growth is priced into Carmit (CRMT)?
For today's price to be fair in a discounted-cash-flow model, Carmit would have to grow free cash flow by -1.4 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.6 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of CRMT use?
Our models discount Carmit at 10.1 %: a base by market capitalisation (nano), damped by beta 0.14, country premium for Israel. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Carmit that is -1.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Carmit (CRMT) delivered so far?
Over the past 5 years revenue at Carmit grew +13.6 % a year. The price currently implies free-cash-flow growth of -1.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Carmit (CRMT) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Carmit (-1.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Carmit (CRMT)?
The free-cash-flow yield on the price is 22.58 %: that much free cash flow Carmit produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Carmit (CRMT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Carmit it is 28.66 ILS per share (as of Nov 4, 2026), against a price of 16.46 ILS. It is the blended result of 24 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Carmit stock overvalued or undervalued in 2026?
As of Nov 4, 2026, CRMT trades below its calculated fair value: price 16.46 ILS, fair value 28.66 ILS, a gap of about +74% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CRMT?
No. The price is what the market pays today (16.46 ILS); the fair value is what the company's own numbers justify (28.66 ILS). For Carmit the two are 12.20 ILS per share apart. That gap is exactly why we show both numbers side by side.
How much is Carmit worth?
The market values Carmit at about 92.0M ILS (market capitalisation, as of Nov 4, 2026). Per share that is 16.46 ILS; our models calculate a fair value of 28.66 ILS per share.
What do the bullish and bearish scenarios say about CRMT?
Our models span a range for Carmit: cautious scenario 22.05 ILS, base 28.66 ILS, optimistic 36.36 ILS per share (as of Nov 4, 2026, price 16.46 ILS). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CRMT?
Carmit trades at a price-to-earnings ratio of 12.2 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 28.66 ILS is built from several models across several years. Other multiples: P/B 1.2, P/S 0.3, EV/EBITDA 3.9.
How solid is the balance sheet of Carmit (CRMT)?
Balance-sheet figures for Carmit (as of Nov 4, 2026): return on equity 10.1%, debt of 0.64 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is CRMT from its 52-week high?
Carmit trades at 16.46 ILS, about 42% below its 52-week high of 28.23 ILS and 51% above the low of 10.89 ILS (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 28.66 ILS is for.
Which stocks are comparable to Carmit?
From the same area (Consumer Defensive) we also value Mondelez International, Inc, The Hershey Company, Chocoladefabriken Lindt & Sprüngli AG, Barry Callebaut AG, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Carmit stock attractive at the current price?
The data as of Nov 4, 2026: price 16.46 ILS, calculated fair value 28.66 ILS (+74%), Quality Score 61/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CRMT calculated?
We run Carmit through 24 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 28.66 ILS builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Carmit currently trades 43% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Carmit (CRMT)?
The closing price on Nov 6, 2026 was 16.46 ILS. Our model-based fair value is 28.66 ILS, about +74% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Carmit right now?
The price is below even our cautious bear case (22.05 ILS). The market is more pessimistic than our downside scenario. Solid quality (61/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of Carmit (CRMT) come from?
Earnings per share at Carmit grew −0.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +8.5 %, EBIT margin +8.0 %, tax rate +0.2 %, residual (interest, one-offs) −15.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Carmit
How large is the market capitalisation of Carmit (CRMT)?
The market capitalisation of Carmit is 92.0M ILS. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Carmit (CRMT)?
The price-to-sales ratio of Carmit is 0.31 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Carmit (CRMT)?
Earnings per share at Carmit are 1.35 ILS (price ÷ EPS = P/E 12.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Carmit (CRMT)?
The net margin of Carmit is 2.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Carmit (CRMT)?
The return on equity (ROE) of Carmit is 10.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Carmit (CRMT)?
On an EBIT basis the return on assets of Carmit is 2.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Carmit (CRMT)?
The operating margin of Carmit is 5.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Carmit (CRMT)?
Revenue at Carmit is growing −3.9% versus a year earlier (3y avg +11.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Carmit (CRMT)?
Earnings per share at Carmit are growing +557% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Carmit (CRMT) carry?
The net debt of Carmit is 132M ILS (fiscal year 2025, ≈ 6.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 4, 2026