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InterCure Ltd (INCR) Fair Value & Analysis

Healthcare · US · Market cap $53.1M

IL InterCure Ltd logo InterCure Ltd INCR · US
Price$0.9800
Fair Value$1.22
Upside+24.9%
Quality40/100
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Mixed Growth
Loss-making · -13.2% net margin
Low debt · generates free cash flow
Trails peers (4/11)
Narrow moat 12/100
Evidence: Medium Range $0.7650 – $1.22 Share as image

Fair value as of: Jul 17, 2026

From 13 valuation models · updated 24 days ago

Share price +1.0% over the past month.

Below-average quality, screening 25% undervalued on our models.

What matters now

  • Our model range runs from $0.7650 (bear) to $1.22 (bull), base $1.22. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 40/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

$8.66 $0.7300 Fair Value $1.22 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $0.7300 – $8.66 · fair‑value band $0.7650 – $1.22 · the $0.9800 price screens below the $1.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

InterCure Ltd (INCR) currently trades at $0.9800, while our model-based Fair Value estimate is $1.22, implying the stock looks roughly 24.9% undervalued today. The Quality Score stands at 40/100 (below-average quality), in the Healthcare 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: medium), always confirm before acting.

Over the trailing twelve months, InterCure Ltd generated revenue of $243M at a net margin of -13.2%. Revenue grew 23.9% year over year. It earns a return on equity of -9.3%. Net debt stands at $137M. Fundamentals as of Jul 17, 2026

Our scenario range runs from $0.7650 (bear case) to $1.22 (bull case); at $0.9800, 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. The share trades about 45% below its 52-week high and 44% above its 52-week low, currently below its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -49% fair-value upside, at 25%, INCR 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
Growth DCF $2.35 $3.94 $6.42 80
Rev-Margin DCF $1.61 $2.80 $5.23 74
ROIC Compounder $0.5300 $0.6200 $0.6900 72
All 13 models by family
DCF Models
FCF DCF $2.53 $3.64 $6.87 38
5Y Revenue Exit $1.49 $2.42 $4.33 39
5Y EBITDA Exit $3.59 $6.64 $12.63 41
10Y Revenue Exit $1.84 $3.51 $4.35 36
10Y EBITDA Exit $3.18 $7.35 $14.63 37
Earnings-Based
EPV $0.5300 $0.6200 $0.6900 59
Multiples
EV/EBIT $1.27 $1.78 $2.28 53
EV/EBITDA $4.16 $5.62 $7.08 54
EV/Revenue $0.8400 $1.30 $1.76 43
Asset-Based
NCAV (Graham) $3.47 $4.65 $6.94 50
Growth DCF
Growth DCF $2.35 $3.94 $6.42 80
Rev-Margin DCF $1.61 $2.80 $5.23 74
Economic Profit
ROIC Compounder $0.5300 $0.6200 $0.6900 72

Widest divergence: Asset-Based ($4.65) versus Earnings-Based ($0.6200). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $243M
Revenue growth (YoY) +23.9%
Net margin -13.2%
Return on equity -9.3%
Free cash flow $13.3M FY2025
EPS (TTM) $-0.2300
More key figures
EPS growth (YoY) -84.7%
Net debt $137M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 40 · Market factors (momentum, volatility) 35

Profitability 6
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 46
Earnings quality: real cash, not paper profit
Fin. Strength 38
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 47
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 0
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

InterCure Ltd., together with its subsidiaries, engages in the production, manufacturing, and distribution of pharmaceutical-grade cannabis and cannabis-based products for medical use in Israel and internationally. The company offers dried cannabis inflorescences and cannabis extract mixed with oil. It also invests in the biomed sector.

Full company description

InterCure Ltd., together with its subsidiaries, engages in the production, manufacturing, and distribution of pharmaceutical-grade cannabis and cannabis-based products for medical use in Israel and internationally. The company offers dried cannabis inflorescences and cannabis extract mixed with oil. It also invests in the biomed sector. The company was incorporated in 1994 and is headquartered in Herzliya, Israel.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

InterCure Ltd reported revenue of $270M in FY2025 versus $220M in FY2021, a compound +5.3%/yr. Reported net income was −$35.7M in FY2025.

Growth Quality 52/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$270M
Latest YoY
+13.1%
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.
−11.4%
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.
+33.0%
Avg. growth/yr (15Y) 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.
+22.3%
Revenue +5.3%/yr
FY21 $220M
FY22 $389M
FY23 $356M
FY24 $239M
FY25 $270M
Net income
FY21 $4.7M
FY22 $44.8M
FY23 −$62.0M
FY24 −$67.8M
FY25 −$35.7M

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Cite: Fair Value Calculator (2026). "InterCure Ltd Fair Value". https://www.fairvalue-calculator.com/stock/INCR

Peer Group

Drug Manufacturers - Specialty & Generic · 623 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 40 · Bottom 25%
Fair Value upside +25% · Top 25%
Return on assets -6% · Bottom 25%
Net margin (TTM) -13% · Bottom 25%
Operating margin (TTM) 0% · Below median
Revenue growth 24% · Top 25%
Debt / equity 0.15× · Higher than median

Valuation Multiples vs Drug Manufacturers - Specialty & Generic median · lower = cheaper

P/B 0.13× · Cheaper than 75% of peers
P/S (TTM) 0.22× · Cheaper than 75% of peers
P/FCF 4.0× · Pricier than median

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 67 · sector 6
FUTURE 100 · sector 20
PAST 0 · sector 24
HEALTH 93 · sector 97
DIVIDEND 0 · sector 34

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 Drug Manufacturers - Specialty & Generic stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Jiangsu Hengrui Pharmaceuticals Co 600276 ¥53.19 ¥25.94 -51%
Sun Pharmaceutical Industries Limited SUNPHARMA ₹1,933 ₹989.50 -49%
Divi's Laboratories Limited DIVISLAB ₹7,316 ₹1,943 -73%
Torrent Pharmaceuticals Limited TORNTPHARM ₹4,763 ₹1,329 -72%
PharmaEssentia Corporation 6446 1,285 TWD 221.01 TWD -83%
Cipla Limited CIPLA ₹1,439 ₹1,001 -30%
Zydus Lifesciences Limited ZYDUSLIFE ₹1,151 ₹703.32 -39%
Lupin Limited LUPIN ₹2,443 ₹2,477 +1%
Mankind Pharma Limited MANKIND ₹2,484 ₹983.11 -60%
Dr. Reddy's Laboratories Limited DRREDDY ₹1,211 ₹874.79 -28%

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Frequently asked questions

Is InterCure Ltd (INCR) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $1.22 versus a price of $0.9800, about +25% (undervalued).
What is the fair value of INCR?
Our model-based fair value for InterCure Ltd is $1.22 (as of Jul 17, 2026), built from audited fundamentals. The current price is $0.9800.
What is the quality score of INCR?
InterCure Ltd has a Quality Score of 40/100. 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 InterCure Ltd (INCR)?
InterCure Ltd reported trailing-twelve-month revenue of about $243M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of INCR?
The net profit margin of InterCure Ltd is about -13.2%, meaning it is currently running at a net loss. Based on the latest reported figures.

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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