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Hanan Mor Group (HNMR) Fair Value & Analysis

Real Estate · Il · Market cap 15.0M ILA

HM Hanan Mor Group HNMR · TA
Price3.07 ILA
Fair Value5.41 ILA
Upside+76.0%
Quality13/100
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Mixed Growth
Negative equity (buybacks among others) · negative free cash flow
Trails peers (3/8)
Narrow moat 10/100
Evidence: Low Range 3.01 ILA – 7.42 ILA Share as image

Fair value as of: Jul 16, 2026

From 2 valuation models · updated 25 days ago

Share price −20.7% over the past month.

Below-average quality, screening 76% undervalued on our models.

What matters now

  • The large discount to fair value meets weak quality (13/100). That raises the risk this is a value trap rather than a bargain.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • A fairly wide model range (3.01 ILA to 7.42 ILA) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

796.81 ILA 2.19 ILA Fair Value 5.41 ILA Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range 2.19 ILA – 796.81 ILA · fair‑value band 3.01 ILA – 7.42 ILA · the 3.07 ILA price screens below the 5.41 ILA fair value. Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Hanan Mor Group (HNMR) currently trades at 3.07 ILA, while our model-based Fair Value estimate is 5.41 ILA, implying the stock looks roughly 76.0% undervalued today. The Quality Score stands at 13/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: low), always confirm before acting.

Trailing-twelve-month revenue stands at 353M ILA. Revenue declined 39.4% year over year. Net debt stands at 2.6B ILA. Fundamentals as of Jul 16, 2026

Our scenario range runs from 3.01 ILA (bear case) to 7.42 ILA (bull case); at 3.07 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 Real Estate peers we cover trades at 32% fair-value upside, at 76%, HNMR 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 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
Gordon GGM 2.72 ILA 4.55 ILA 5.90 ILA 70
DDM Multi-Stage 2.72 ILA 4.31 ILA 4.89 ILA 61
All 2 models by family
Dividend Discount
Gordon GGM 2.72 ILA 4.55 ILA 5.90 ILA 70
DDM Multi-Stage 2.72 ILA 4.31 ILA 4.89 ILA 61

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Key figures & financial health

Revenue (TTM) 353M ILA
Revenue growth (YoY) -39.4%
Net margin -280%
Return on equity -376%
Free cash flow −159M ILA FY2023
Operating margin -4.0%
More key figures
EPS (TTM) -0.7200 ILA
EPS growth (YoY) -95.9%
Net debt 2.6B ILA FY2023

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 13/100

Of which business quality 13 · Market factors (momentum, volatility) 12

Profitability 0
Margins and returns on capital today
Quality Growth 3
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 0
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 23
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 36
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

Hanan Mor Group - Holdings Ltd operates as a real estate development company in Israel and Eastern Europe. The company engages in the initiation, establishment, construction, marketing, and management of residential and commercial real estate projects. It also constructs hotels, shopping and employment centers, malls, logistics, and offices.

Full company description

Hanan Mor Group - Holdings Ltd operates as a real estate development company in Israel and Eastern Europe. The company engages in the initiation, establishment, construction, marketing, and management of residential and commercial real estate projects. It also constructs hotels, shopping and employment centers, malls, logistics, and offices. In addition, the company invests in real estate for construction of commercial areas, as well as land and buildings; and rent offices and commercial spaces. Further, it owns a hotel in Poland. The company was incorporated in 2004 and is based in Ness Ziona, Israel. Hanan Mor Group - Holdings Ltd is a subsidiary of Hanan Mor Group Holdings 2006 Ltd.

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

Revenue & earnings trend

FY2019 – FY2023 · reported fiscal years

Hanan Mor Group reported revenue of 400M ILA in FY2023 versus 113M ILA in FY2019, a compound +37.1%/yr. Reported net income was −869M ILA in FY2023.

Growth Quality 21/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2023)
400M ILS
Latest YoY
−50.9%
Avg. 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.
+25.7%
Avg. 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.
+10.1%
Avg. growth/yr (16Y) 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.
+16.1%
Revenue +37.1%/yr
FY19 113M ILA
FY20 201M ILA
FY21 629M ILA
FY22 815M ILA
FY23 400M ILA
Net income
FY19 21.5M ILA
FY20 −5.9M ILA
FY21 180M ILA
FY22 118M ILA
FY23 −869M ILA

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Cite: Fair Value Calculator (2026). "Hanan Mor Group Fair Value". https://www.fairvalue-calculator.com/stock/HNMR

Peer Group

Real Estate - Development · 588 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 13 · Bottom 25%
Fair Value upside +76% · Above median
Return on assets -0% · Below median
Operating margin (TTM) -4% · Below median
Revenue growth -39% · Bottom 25%

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/S (TTM) 0.01× · 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 100 · sector 48
FUTURE 0 · sector 0
PAST 0 · sector 10
HEALTH 100 · sector 84
DIVIDEND 0 · sector 38

PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.

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 Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

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Frequently asked questions

Is Hanan Mor Group (HNMR) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of 5.41 ILA versus a price of 3.07 ILA, about +76% (undervalued).
What is the fair value of HNMR?
Our model-based fair value for Hanan Mor Group is 5.41 ILA (as of Jul 16, 2026), built from audited fundamentals. The current price is 3.07 ILA.
What is the quality score of HNMR?
Hanan Mor Group has a Quality Score of 13/100. 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 Hanan Mor Group (HNMR)?
Hanan Mor Group reported trailing-twelve-month revenue of about 353M ILS (latest available figure, as of Jul 16, 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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