Partner (PTNR) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Partner ILS 32.92, price ILS 37.52, upside -12.3%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 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 24, 2026.
How to read this chart
60‑month range 10.46 ILA – 43.30 ILA · fair‑value band 23.78 ILA – 42.06 ILA · the 37.52 ILA price screens above the 32.92 ILA fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Partner Communications Company Ltd. provides various communication services in Israel. The company offers mobile cellular, fixed-line, and international telephony; internet and TV services; transmission; data communications; and PRI, as well as Partner TV and optic fiber infrastructure.
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Partner Communications Company Ltd. provides various communication services in Israel. The company offers mobile cellular, fixed-line, and international telephony; internet and TV services; transmission; data communications; and PRI, as well as Partner TV and optic fiber infrastructure. It also provides cellular communication services, including voice call, text messages, internet browsing, and data transfer; value-added services, such as device repair; multimedia messages, voicemail, cyber protection, cloud backup, and pantone services; and MyGuard antivirus. In addition, the company offers email accounts, routers, anti-virus, and website filtering; network and data infrastructure services, information security, integration solutions, dedicated services, business information storage services, and data center and cloud services; and broadcasting services. Further, the company provides broadband fiber optic infrastructure; and sells electronic equipment and terminal equipment; and sells various mobile phones, accessories and other electronic equipment, such as tablets, laptops, gaming consoles, speakers, headphones, and smartwatches through physical stores and the website. Additionally, it operates service and sales centers in Israel. Partner Communications Company Ltd. was incorporated in 1997 and is headquartered in Rosh HaAyin, Israel.
Stock analysis
Partner (PTNR) currently trades at 37.52 ILA, while our model-based Fair Value estimate is 32.92 ILA, implying the stock looks roughly 14.0% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 39.43 ILA per share, and 8 of the 24 models we run sit above the 37.52 ILA price.
Bear case: the Asset-Based group reads lowest at 8.29 ILA, and 16 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: 23.78 ILA (bear) to 42.06 ILA (bull), the price of 37.52 ILA sits inside 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 63/100 (solid quality), in the Communication Services sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Partner reported revenue of 3.2B ILS in FY2025 versus 3.4B ILS in FY2021, a compound −1.2%/yr. Reported net income was 304M ILS in FY2025, compounding +27.5%/yr from FY2021.
Key figures
Market cap 7.1B ILA · P/E ratio 22.6 · P/S ratio 2.15 · EPS (TTM) 1.66 ILA · Dividend yield 6.6% · Net margin 9.5% · Return on equity 15.7% · Return on assets (EBIT) 5.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 33% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 47% fair-value upside, at −12%, PTNR screens richer than that median.
Fair Value models
Bear 23.78 ILAFair Value 32.92 ILABull 42.06 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.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.40/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−3.7%
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.
−2.6%
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.
+0.1%
Start year 2020 (pandemic). Over 10 years: −2.5% a year
Revenue growth 26 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.
+5.0%
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What shareholders gained per year (last 5 years) ⓘ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. Basis: EBIT basis.
+40.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+33.7%
Dividend (yield on the price)6.6%
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.69% vs 9%, picking up
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% → 13%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 4.5%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
−1.1%
Yearly growth needed for the next five years to justify today's price.
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 −3.1% 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.Telecom Services · 252 stocks
Beats the industry median on 11/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−12% · Below median
Profitability
Return on equity (TTM)16% · Above median
Return on assets6% · Top 25%
Net margin (TTM)10% · Above median
Operating margin (TTM)14% · Above median
Growth and dividend
Revenue growth−5% · Bottom 25%
Dividend yield (TTM)6.6% · Top 25%
Balance sheet
Debt / equity0.25× · Below median
Valuation Multiplesvs Telecom Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Partner Fair Value". https://www.fairvalue-calculator.com/stock/PTNR
Frequently asked questions
Is Partner (PTNR) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 32.92 ILA versus a price of 37.52 ILA, about −12% upside (overvalued).
What is the fair value of PTNR?
Our model-based fair value for Partner is 32.92 ILA (as of Sep 24, 2026), built from audited fundamentals. The current price: 37.52 ILA.
What is the quality score of PTNR?
Partner has a Quality Score of 63/100. 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 Partner (PTNR)?
Our model-based price target is the fair value of 32.92 ILA (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 23.78 ILA, optimistic scenario 42.06 ILA. It is a calculation from audited fundamentals, not an analyst target.
What is the Partner stock forecast for 2026?
Our models put fair value at 32.92 ILA, about −12% upside versus a price of 37.52 ILA (overvalued). Cautious scenario 23.78 ILA, optimistic scenario 42.06 ILA. The calculation is refreshed regularly with new filings.
What is the revenue of Partner (PTNR)?
Partner reported trailing-twelve-month revenue of about 3.2B ILS (latest available figure, as of Sep 24, 2026).
Does Partner pay a dividend?
Partner currently shows a dividend yield of about 6.61% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Partner (PTNR)?
For today's price to be fair in a discounted-cash-flow model, Partner would have to grow free cash flow by -1.1 % 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 +0.1 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of PTNR use?
Our models discount Partner at 10.1 %: a base by market capitalisation (mid), damped by beta 0.33, 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 Partner that is -1.1 % per year a year over ten years, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Partner (PTNR) delivered so far?
Over the past 5 years revenue at Partner grew +0.1 % a year. The price currently implies -1.1 % 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 Partner (PTNR) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Partner (-1.1 % 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 Partner (PTNR)?
The free-cash-flow yield on the price is 9.60 %: that much free cash flow Partner 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 Partner (PTNR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Partner it is 32.92 ILA per share (as of Sep 24, 2026), against a price of 37.52 ILA. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Partner stock overvalued or undervalued in 2026?
As of Sep 24, 2026, PTNR trades above its calculated fair value: price 37.52 ILA, fair value 32.92 ILA, a gap of about −12% (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 PTNR?
No. The price is what the market pays today (37.52 ILA); the fair value is what the company's own numbers justify (32.92 ILA). For Partner the two are 4.60 ILA per share apart. That gap is exactly why we show both numbers side by side.
How much is Partner worth?
The market values Partner at about 7.1B ILA (market capitalisation, as of Sep 24, 2026). Per share that is 37.52 ILA; our models calculate a fair value of 32.92 ILA per share.
What do the bullish and bearish scenarios say about PTNR?
Our models span a range for Partner: cautious scenario 23.78 ILA, base 32.92 ILA, optimistic 42.06 ILA per share (as of Sep 24, 2026, price 37.52 ILA). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PTNR?
Partner trades at a price-to-earnings ratio of 22.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 32.92 ILA is built from several models across several years. Other multiples: P/B 1.0, P/S 0.7, EV/EBITDA 2.7.
How solid is the balance sheet of Partner (PTNR)?
Balance-sheet figures for Partner (as of Sep 24, 2026): return on equity 15.7%, debt of 0.25 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is PTNR from its 52-week high?
Partner trades at 37.52 ILA, about 13% below its 52-week high of 43.30 ILA and 33% above the low of 28.25 ILA (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 32.92 ILA is for.
Which stocks are comparable to Partner?
From the same area (Communication Services) we also value China Mobile Limited, T-Mobile US, Inc, Verizon Communications Inc, AT&T Inc, 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 Partner stock attractive at the current price?
The data as of Sep 24, 2026: price 37.52 ILA, calculated fair value 32.92 ILA (−12%), Quality Score 63/100, 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 PTNR calculated?
We run Partner through 24 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 32.92 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 14.1 % above its aggregate fair value. Partner 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 Partner (PTNR)?
The closing price on Sep 23, 2026 was 37.52 ILA. Our model-based fair value is 32.92 ILA, about −12% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Partner right now?
Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of Partner (PTNR) come from?
Earnings per share at Partner grew +7.7 % a year from 2014 to 2025. Broken into its drivers: revenue per share −3.9 %, EBIT margin +4.5 %, tax rate +1.7 %, residual (interest, one-offs) +5.5 %. 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 Partner
How large is the market capitalisation of Partner (PTNR)?
The market capitalisation of Partner is 7.1B 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 Partner (PTNR)?
The price-to-sales ratio of Partner is 2.15 (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 Partner (PTNR)?
Earnings per share at Partner are 1.66 ILA (price ÷ EPS = P/E 22.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Partner (PTNR)?
The dividend yield of Partner is 6.6% (payout 149%). 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 Partner (PTNR)?
The net margin of Partner is 9.5% (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 Partner (PTNR)?
The return on equity (ROE) of Partner is 15.7% (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 Partner (PTNR)?
On an EBIT basis the return on assets of Partner is 5.2% (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 Partner (PTNR)?
The operating margin of Partner is 13.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Partner (PTNR)?
Revenue at Partner is growing −4.9% versus a year earlier (3y avg −2.6%). 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 Partner (PTNR)?
Earnings per share at Partner are growing +14.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Partner (PTNR) carry?
The net debt of Partner is 686M ILA (fiscal year 2025, ≈ 1.0 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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