Menora Miv Hld (MMHD) fair value: what the stock is really worth
We calculate from audited financials what Menora Miv Hld is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 19, 2026.
How to read this chart
60‑month range 52.03 ILA – 565.00 ILA · fair‑value band 241.11 ILA – 408.67 ILA · the 551.70 ILA price screens above the 326.94 ILA fair value. Dashed = 300-day average. As of Sep 19, 2026.
Menora Mivtachim Holdings Ltd., together with its subsidiaries, operates in insurance and finance sectors in Israel. It operates through Life Insurance and Long-Term Savings; Health Insurance; and Property and Casualty Insurance segments.
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Menora Mivtachim Holdings Ltd., together with its subsidiaries, operates in insurance and finance sectors in Israel. It operates through Life Insurance and Long-Term Savings; Health Insurance; and Property and Casualty Insurance segments. The company offers mortgage, life, disability, health, critical illness, travel, personal accident, home, business, car, comprehensive car, third party, compulsory car, casual driver, truck, motorcycle, executive, foreign workers and tourists, cyber, and engineering insurance products; and pension, provident, and training funds. It also engages in the provision of securities distribution and underwriting obligations, insurance brokerage, financing and credit to SMEs, and undertakings for repayment of means of payment, as well as real estate investments, and solar activities. Menora Mivtachim Holdings Ltd. was formerly known as General Liability Office Ltd. and changed its name to Menora Mivtachim Holdings Ltd. in 2006. The company was incorporated in 1935 and is based in Ramat Gan, Israel.
Stock analysis
Menora Miv Hld (MMHD) currently trades at 551.70 ILA, while our model-based Fair Value estimate is 326.94 ILA, implying the stock looks roughly 68.7% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of 357.29 ILA per share, and 0 of the 6 models we run sit above the 551.70 ILA price.
Bear case: the Asset-Based group reads lowest at 98.52 ILA, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: 241.11 ILA (bear) to 408.67 ILA (bull), the price of 551.70 ILA sits above 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 64/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Menora Miv Hld reported revenue of 17.9B ILS in FY2025 versus 13.0B ILS in FY2021, a compound +8.3%/yr. Reported net income was 2.4B ILS in FY2025, compounding +37.6%/yr from FY2021.
Key figures
Market cap 34.8B ILA · P/E ratio 20.5 · P/S ratio 2.70 · EPS (TTM) 26.93 ILA · Dividend yield 2.8% · Net margin 13.2% · Return on equity 28.8% · Return on assets (EBIT) 2.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
For context, the median of 10 Financial Services peers we cover trades at −33% fair-value upside, at −41%, MMHD screens richer than that median.
Fair Value models
Bear 241.11 ILAFair Value 326.94 ILABull 408.67 ILA
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (16.71 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.Evidence ⓘEvidence = 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.99/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+20.9%
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.
+44.8%
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.
+13.4%
Revenue growth 21 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.
+19.3%
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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.
+20.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+18.0%
Dividend (yield on the price)2.8%
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.30% vs 27%, steady
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.10% → 20%
2025 sits 340% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
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).
+7.7%
Yearly growth needed for the next five years to justify today's 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.Insurance - Life · 95 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside−40% · Below median
Profitability
Return on equity (TTM)29% · Top 25%
Return on assets3% · Top 25%
Net margin (TTM)23% · Top 25%
Operating margin (TTM)27% · Above median
Growth and dividend
Revenue growth12% · Above median
Dividend yield (TTM)2.8% · Above median
Balance sheet
Debt / equity0.55× · Above median
Valuation Multiplesvs Insurance - Life median · lower = cheaper
P/E (TTM)20.5× · Pricier than median
P/B1.02× · Cheaper than median
P/S (TTM)0.90× · Cheaper than median
P/FCF4.3× · Pricier than median
EV/EBITDA3.1× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)62· sector 43
PAST (return on equity)100· sector 43
HEALTH (low debt)72· sector 84
DIVIDEND (yield)56· sector 56
VALUE 0: the price sits above our fair-value range.
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.
Is Menora Miv Hld (MMHD) overvalued or undervalued?
As of Sep 19, 2026, our model estimates a fair value of 326.94 ILA versus a price of 551.70 ILA, about −41% upside (overvalued).
What is the fair value of MMHD?
Our model-based fair value for Menora Miv Hld is 326.94 ILA (as of Sep 19, 2026), built from audited fundamentals. The current price: 551.70 ILA.
What is the quality score of MMHD?
Menora Miv Hld has a Quality Score of 64/100. 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 Menora Miv Hld (MMHD)?
Our model-based price target is the fair value of 326.94 ILA (as of Sep 19, 2026) from 6 valuation models. Cautious scenario 241.11 ILA, optimistic scenario 408.67 ILA. It is a calculation from audited fundamentals, not an analyst target.
What is the Menora Miv Hld stock forecast for 2026?
Our models put fair value at 326.94 ILA, about −41% upside versus a price of 551.70 ILA (overvalued). Cautious scenario 241.11 ILA, optimistic scenario 408.67 ILA. The calculation is refreshed regularly with new filings.
What is the revenue of Menora Miv Hld (MMHD)?
Menora Miv Hld reported trailing-twelve-month revenue of about 10.2B ILS (latest available figure, as of Sep 19, 2026).
Does Menora Miv Hld pay a dividend?
Menora Miv Hld currently shows a dividend yield of about 2.81% relative to its recent price (as of Sep 19, 2026).
What growth is priced into Menora Miv Hld (MMHD)?
For today's price to be fair in a discounted-cash-flow model, Menora Miv Hld would have to grow free cash flow by +7.7 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +13.4 % per year. As of Sep 19, 2026.
What discount rate (WACC) does the fair value of MMHD use?
Our models discount Menora Miv Hld at 9.8 %: a base by market capitalisation (large), damped by beta 0.54, 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 Menora Miv Hld that is +7.7 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Menora Miv Hld (MMHD) delivered so far?
Over the past 5 years revenue at Menora Miv Hld grew +13.4 % a year. The price currently implies +7.7 % per year free-cash-flow growth a 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 Menora Miv Hld (MMHD) growing?
The median revenue growth in the sector is +8.1 % a year. That is the yardstick for the growth priced into Menora Miv Hld (+7.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Menora Miv Hld (MMHD)?
The free-cash-flow yield on the price is 6.33 %: that much free cash flow Menora Miv Hld produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Menora Miv Hld (MMHD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Menora Miv Hld it is 326.94 ILA per share (as of Sep 19, 2026), against a price of 551.70 ILA. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Menora Miv Hld stock overvalued or undervalued in 2026?
As of Sep 19, 2026, MMHD trades above its calculated fair value: price 551.70 ILA, fair value 326.94 ILA, a gap of about −41% (overvalued). 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 MMHD?
No. The price is what the market pays today (551.70 ILA); the fair value is what the company's own numbers justify (326.94 ILA). For Menora Miv Hld the two are 224.76 ILA per share apart. That gap is exactly why we show both numbers side by side.
How much is Menora Miv Hld worth?
The market values Menora Miv Hld at about 34.8B ILA (market capitalisation, as of Sep 19, 2026). Per share that is 551.70 ILA; our models calculate a fair value of 326.94 ILA per share.
What do the bullish and bearish scenarios say about MMHD?
Our models span a range for Menora Miv Hld: cautious scenario 241.11 ILA, base 326.94 ILA, optimistic 408.67 ILA per share (as of Sep 19, 2026, price 551.70 ILA). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MMHD?
Menora Miv Hld trades at a price-to-earnings ratio of 20.5 (as of Sep 19, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 326.94 ILA is built from several models across several years. Other multiples: P/B 1.0, P/S 0.9, EV/EBITDA 3.1.
How solid is the balance sheet of Menora Miv Hld (MMHD)?
Balance-sheet figures for Menora Miv Hld (as of Sep 19, 2026): return on equity 28.8%, debt of 0.55 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
Which stocks are comparable to Menora Miv Hld?
From the same area (Financial Services) we also value China Life Insurance Company, Ping An Insurance (Group) Company, AIA Group, Manulife Financial Corporation, 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 Menora Miv Hld stock attractive at the current price?
The data as of Sep 19, 2026: price 551.70 ILA, calculated fair value 326.94 ILA (−41%), Quality Score 64/100, from 6 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 MMHD calculated?
We run Menora Miv Hld through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 326.94 ILA, 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 16.1 % above its aggregate fair value. Menora Miv Hld itself currently trades above fair value. 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 Menora Miv Hld (MMHD)?
The closing price on Sep 17, 2026 was 551.70 ILA. Our model-based fair value is 326.94 ILA, about −41% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Menora Miv Hld right now?
The price sits above even our optimistic bull case (408.67 ILA). The favourable scenario is already priced in. Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Menora Miv Hld (MMHD) come from?
Earnings per share at Menora Miv Hld grew +26.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.6 %, EBIT margin +16.8 %, tax rate +0.9 %, residual (interest, one-offs) −0.1 %. 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 Menora Miv Hld
How large is the market capitalisation of Menora Miv Hld (MMHD)?
The market capitalisation of Menora Miv Hld is 34.8B ILA. 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 Menora Miv Hld (MMHD)?
The price-to-sales ratio of Menora Miv Hld is 2.70 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Menora Miv Hld (MMHD)?
Earnings per share at Menora Miv Hld are 26.93 ILA (price ÷ EPS = P/E 20.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Menora Miv Hld (MMHD)?
The dividend yield of Menora Miv Hld is 2.8% (payout 57.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Menora Miv Hld (MMHD)?
The net margin of Menora Miv Hld is 13.2% (fiscal year 2025). 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 Menora Miv Hld (MMHD)?
The return on equity (ROE) of Menora Miv Hld is 28.8% (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 Menora Miv Hld (MMHD)?
On an EBIT basis the return on assets of Menora Miv Hld is 2.1% (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 Menora Miv Hld (MMHD)?
The operating margin of Menora Miv Hld is 26.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Menora Miv Hld (MMHD)?
Revenue at Menora Miv Hld is growing +12.3% versus a year earlier (3y avg +44.8%). 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 Menora Miv Hld (MMHD)?
Earnings per share at Menora Miv Hld are growing +20.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Menora Miv Hld (MMHD) carry?
The net debt of Menora Miv Hld is 3.3B ILA (fiscal year 2025, ≈ 1.5 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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