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Shaniv Paper Industry Ltd (SHAN) Fair Value & Analysis

Basic Materials · Il · Market cap 569M ILA

SP Shaniv Paper Industry Ltd SHAN · TA
Price9.11 ILA
Fair Value5.31 ILA
Upside-41.7%
Quality55/100
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Healthy Growth
Thin margins · 1.8% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Narrow moat 39/100
Evidence: Medium Range 3.98 ILA – 6.64 ILA Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 27 days ago

Fair value updated Jul 15, 2026, revised from 5.60 ILA to 5.31 ILA (−5.2%) since Jun 24, 2026. Share price −2.2% over the past month.

A solid business, but screening 42% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (6.64 ILA). The favourable scenario is already priced in.
  • Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

10.51 ILA 3.03 ILA Fair Value 5.31 ILA Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range 3.03 ILA – 10.51 ILA · fair‑value band 3.98 ILA – 6.64 ILA · the 9.11 ILA price screens above the 5.31 ILA fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Shaniv Paper Industry Ltd (SHAN) currently trades at 9.11 ILA, while our model-based Fair Value estimate is 5.31 ILA, implying the stock looks roughly 41.7% overvalued today. The Quality Score stands at 55/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Shaniv Paper Industry Ltd generated revenue of 923M ILA at a net margin of 1.8%. Revenue declined 1.2% year over year. It earns a return on equity of 5.3%. Net debt stands at 322M ILA. Fundamentals as of Jul 15, 2026

Our scenario range runs from 3.98 ILA (bear case) to 6.64 ILA (bull case); at 9.11 ILA, the current price sits above 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 Basic Materials peers we cover trades at 10% fair-value upside, at -42%, SHAN screens richer 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 7.28 ILA 11.58 ILA 17.65 ILA 80
Residual Income 4.26 ILA 4.29 ILA 3.96 ILA 76
Rev-Margin DCF 7.09 ILA 12.16 ILA 18.59 ILA 74
All 26 models by family
DCF Models
FCF DCF 7.37 ILA 12.20 ILA 19.42 ILA 38
Owner Earnings 8.21 ILA 13.57 ILA 21.59 ILA 31
5Y Revenue Exit 7.09 ILA 12.24 ILA 19.13 ILA 39
5Y EBITDA Exit 9.13 ILA 16.37 ILA 25.34 ILA 41
5Y P/E Exit 4.80 ILA 7.61 ILA 10.68 ILA 38
10Y Revenue Exit 6.88 ILA 11.51 ILA 18.35 ILA 36
10Y EBITDA Exit 8.32 ILA 14.24 ILA 23.02 ILA 37
10Y P/E Exit 5.71 ILA 8.43 ILA 11.99 ILA 35
Earnings-Based
Graham-Dodd 2.12 ILA 9.29 ILA 12.71 ILA 54
Lynch FV 2.40 ILA 3.42 ILA 4.45 ILA 50
PEG = 1.0 2.40 ILA 3.42 ILA 4.45 ILA 46
EPV 5.16 ILA 5.91 ILA 6.53 ILA 59
Dividend Discount
Gordon GGM 1.53 ILA 2.77 ILA 3.81 ILA 70
DDM Multi-Stage 1.53 ILA 2.53 ILA 2.95 ILA 61
Multiples
P/E Multiple 3.98 ILA 5.31 ILA 6.64 ILA 63
P/S Multiple 3.98 ILA 5.31 ILA 6.64 ILA 58
P/B Multiple 3.98 ILA 5.31 ILA 6.64 ILA 55
EV/EBIT 8.29 ILA 11.18 ILA 14.06 ILA 53
EV/EBITDA 11.28 ILA 15.16 ILA 19.04 ILA 54
EV/Revenue 7.14 ILA 10.35 ILA 13.57 ILA 43
Asset-Based
NCAV (Graham) 2.90 ILA 3.88 ILA 5.79 ILA 50
Growth DCF
Growth DCF 7.28 ILA 11.58 ILA 17.65 ILA 80
Rev-Margin DCF 7.09 ILA 12.16 ILA 18.59 ILA 74
Economic Profit
Residual Income 4.26 ILA 4.29 ILA 3.96 ILA 76
ROIC Compounder 5.16 ILA 6.01 ILA 7.49 ILA 72
Growth Earnings
Growth-Adj P/E 3.54 ILA 5.05 ILA 6.57 ILA 68

Widest divergence: DCF Models (12.20 ILA) versus Dividend Discount (2.53 ILA). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 923M ILA
Revenue growth (YoY) -1.2%
Net margin 1.8%
Return on equity 5.3%
Free cash flow 46.9M ILA FY2025
P/E ratio 13.4
More key figures
Operating margin 16.1%
EPS (TTM) 0.7400 ILA
Dividend yield 0.0%
EPS growth (YoY) +540%
Net debt 322M ILA FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 53 · Market factors (momentum, volatility) 77

Profitability 36
Margins and returns on capital today
Quality Growth 56
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 33
Balance sheet, leverage, solvency risk
Investment 77
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 80
Distance to the 52-week high (market factor)
Net Issuance 79
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

Shaniv Paper Industry Ltd engages in the manufacture and marketing of paper, cleaning, automotive, and personal care products in Israel and internationally. The company offers toilet paper, kitchen towels, handkerchiefs, and napkins, as well as a new line for the institutional market.

Full company description

Shaniv Paper Industry Ltd engages in the manufacture and marketing of paper, cleaning, automotive, and personal care products in Israel and internationally. The company offers toilet paper, kitchen towels, handkerchiefs, and napkins, as well as a new line for the institutional market. It also produces and imports aluminum foils and molds, nylon products, packaging, and various paper products. In addition, the company develops, manufactures, and markets cleaning products, including cleaning agents, products for fabrics and carpets care, fragrances and air purifiers, and products for renovation and home maintenance, insecticides, and pests under the Touch, TNX, and Magic brand names; and car products comprising car fragrances, cleaning products, puncture repair products, oils and additives, industrial aids, auxiliary materials for professionals, hand cleaning creams, maintenance sprays, and others under the Maxol-Max brand. Further, it manufactures and markets personal care products and cosmetics under the Novo brand name, such as face and body care creams, oils, perfume, hair care products, deodorants, and spa products; and offers shampoos and hair nutrients, as well as body lotions under the MB Mickey Buganim brand. Additionally, the company offers technical/contracting services under the MD Clean brand; beauty care products under the BABE brand; ecological products under the Touch Green Care brand name; and professional products under the Touch Professional Company brand. It serves home, personal care, automotive sector, and institutional markets. Shaniv Paper Industry Ltd was incorporated in 1988 and is based in Ofakim, Israel.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shaniv Paper Industry Ltd reported revenue of 927M ILA in FY2025 versus 578M ILA in FY2021, a compound +12.5%/yr. Reported net income was 19.7M ILA in FY2025, compounding −12.9%/yr from FY2021.

Growth Quality 76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
927M ILS
Latest YoY
+7.2%
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.
+8.3%
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.
+10.0%
Avg. growth/yr (22Y) 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.
+11.2%
Revenue +12.5%/yr
FY21 578M ILA
FY22 729M ILA
FY23 808M ILA
FY24 865M ILA
FY25 927M ILA
Net income −12.9%/yr
FY21 34.2M ILA
FY22 8.6M ILA
FY23 15.5M ILA
FY24 12.5M ILA
FY25 19.7M ILA
Character of growth · EPS growth decomposed (2014-2025) −1.1 % p.a.
Revenue per share +11.7 pp

of which total revenue +16.9 pp · buybacks/dilution −5.2 pp

EBIT margin −4.7 pp
Tax rate −2.0 pp
Residual (interest, one-offs) −6.2 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

SHAN screens 42% overvalued. Compare with Klabin S.A →

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Cite: Fair Value Calculator (2026). "Shaniv Paper Industry Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SHAN

Peer Group

Paper & Paper Products · 111 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 55 · Top 25%
Fair Value upside −42% · Bottom 25%
Return on equity (TTM) 5% · Above median
Return on assets 3% · Above median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 16% · Top 25%
Revenue growth -1% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.11× · Lower than median

Valuation Multiples vs Paper & Paper Products median · lower = cheaper

P/E (TTM) 12.2× · Cheaper than median
P/B 0.51× · Cheaper than median
P/S (TTM) 0.20× · Cheaper than median
P/FCF 4.0× · Pricier than median
EV/EBITDA 2.6× · 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 0 · sector 20
FUTURE 0 · sector 9
PAST 21 · sector 12
HEALTH 95 · sector 91
DIVIDEND 0 · sector 41

VALUE 0: the price sits above our fair-value range.

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 Paper & Paper Products stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Klabin S.A KLBN11 R$17.58 R$3.89 -78%
UPM-Kymmene Oyj UPM €23.45 €15.47 -34%
Suzano S.A SUZB3 R$41.70 R$138.01 +231%
Svenska Cellulosa Aktiebolaget SCA (publ) SCAB kr 103.00 kr 49.40 -52%
Shandong Sunpaper Co 002078 ¥14.13 ¥17.29 +22%
Holmen AB HOLMB kr 305.40 kr 217.72 -29%
Nine Dragons Paper (Holdings) Limited 2689 HK$7.55 HK$8.73 +16%
Empresas CMPC S.A CMPC 1,078 CLP 1,269 CLP +18%
Xianhe Co 603733 ¥22.05 ¥24.32 +10%
Billerud AB BILL kr 68.70 kr 48.60 -29%

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Frequently asked questions

Is Shaniv Paper Industry Ltd (SHAN) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of 5.31 ILA versus a price of 9.11 ILA, about −42% (overvalued).
What is the fair value of SHAN?
Our model-based fair value for Shaniv Paper Industry Ltd is 5.31 ILA (as of Jul 15, 2026), built from audited fundamentals. The current price is 9.11 ILA.
What is the quality score of SHAN?
Shaniv Paper Industry Ltd has a Quality Score of 55/100. 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 Shaniv Paper Industry Ltd (SHAN)?
Shaniv Paper Industry Ltd reported trailing-twelve-month revenue of about 923M ILS (latest available figure, as of Jul 15, 2026).
What is the net profit margin of SHAN?
The net profit margin of Shaniv Paper Industry Ltd is about 1.8%, meaning it keeps roughly 1.8% of revenue as net income. Based on the latest reported figures.
Does Shaniv Paper Industry Ltd pay a dividend?
Shaniv Paper Industry Ltd currently shows a dividend yield of about 0.02% relative to its recent price (as of Jul 15, 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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