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Spring Ventures Ltd (SPRG) fair value: what the stock is really worth

As of Sep 16, 2026: fair value of Spring Ventures Ltd ILS 8.14, price ILS 5.24, upside +55.4%, quality 58 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · Il · ISIN IL0010973449

SV Some data Sep 24, 2026

Spring Ventures Ltd

SPRG · TA

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value 8.14 ILA · Strongly undervalued (+55%)
!Quality 58/100
!Mixed Growth (revenue 5y −9.1 %/yr)
✓Highly profitable · 29.4% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (8/9)
!Moderate moat 64/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain
!Weak on past: 17 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

17.35 ILA 3.90 ILA Fair Value 8.14 ILA Apr 2021 Sep 2026

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 3.90 ILA – 17.35 ILA · fair‑value band 6.10 ILA – 10.17 ILA · the 5.24 ILA price screens below the 8.14 ILA fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Spring Ventures Ltd. Is a venture capital firm specializes in Seed stage, Series A stage and early stage investments. It typically invests in deep technology, SaaS with focus on business to business SaaS based models. It invests in private and public enterprises and companies primarily in the technology sector in Israel and internationally.

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Spring Ventures Ltd. Is a venture capital firm specializes in Seed stage, Series A stage and early stage investments. It typically invests in deep technology, SaaS with focus on business to business SaaS based models. It invests in private and public enterprises and companies primarily in the technology sector in Israel and internationally. The company develops technological tools, applications, and other properties in the internet and technology sectors, as well as invests in securities traded in Nasdaq Stock Exchange. It also provides management services in the electronic commerce sector. The company was formerly known as buy2 networks Ltd. and changed its name to Spring Ventures Ltd. in November 2016. Spring Ventures Ltd. was incorporated in 1999 and is based in Tel Aviv, Israel.

Stock analysis

Spring Ventures Ltd (SPRG) currently trades at 5.24 ILA, while our model-based Fair Value estimate is 8.14 ILA, implying the stock looks roughly 35.6% undervalued today.

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Valuation

How firm this estimate is: it rests on 17 models at a data quality of 95/100, which puts the evidence level at medium.

Scenario range: 6.10 ILA (bear) to 10.17 ILA (bull), the price of 5.24 ILA sits below 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 58/100 (solid quality), in the Financial Services sector.

Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.

Spring Ventures Ltd reported revenue of 2.5M ILA in FY2025 versus 75.8M ILA in FY2021, a compound −57.3%/yr. Reported net income was 3.4M ILA in FY2025, compounding −49.5%/yr from FY2021.

Key figures

Market cap 44.1M ILA · P/E ratio 0.8 · P/S ratio 1.13 · EPS (TTM) 6.25 ILA · Net margin 135% · Return on equity 4.3% · Return on assets (EBIT) 7.2% · Operating margin 65.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 14% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −4% fair-value upside, at 55%, SPRG screens cheaper than that median.

Fair Value models

Bear 6.10 ILA Fair Value 8.14 ILA Bull 10.17 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 (4.59 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.
Highest evidence
P/B Multiple 6.15 ILA 8.20 ILA 10.25 ILA 55
NCAV (Graham) 4.82 ILA 6.46 ILA 9.65 ILA 54
All 2 models by family
Multiples
P/B Multiple 6.15 ILA 8.20 ILA 10.25 ILA 55
Asset-Based
NCAV (Graham) 4.82 ILA 6.46 ILA 9.65 ILA 54

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Quality Score breakdown

Overall quality 58/100

Of which business quality 52 · Market factors (momentum, volatility) 49

Profitability 34
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 39
Price trend over the last 3–12 months (market factor)
52W Momentum 41
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 55/100
Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
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.
−54.9%
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.
−9.1%
Revenue growth 17 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%
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.
−16.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year−16.7%
Dividend (yield on the price)0.0%
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.−17% vs −23%, 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.3,635% → 191%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 18.6%/yr over ~10Y (margin trend unclear) ⓘ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.

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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.Asset Management · 659 stocks

Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 58 · Above median
Fair Value upside +55% · Above median
Profitability
Return on equity (TTM) 4% · Below median
Return on assets 4% · Above median
Net margin (TTM) 29% · Above median
Operating margin (TTM) 66% · Above median
Growth and dividend
Revenue growth 14% · Above median
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/E (TTM) 0.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 55
FUTURE (revenue growth)72 · sector 20
PAST (return on equity)17 · sector 22
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 80

Context: sector, industry, market

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

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Blackstone Inc BX $124.01 $52.88 −57%
Brookfield Corporation BN $37.85 $13.75 −64%
KKR & Co KKR $98.44 $19.97 −80%
Apollo Global Management, Inc APO $124.15 $229.64 +85%
State Street Corporation STT $180.25 $138.33 −23%
Ameriprise Financial, Inc AMP $512.37 $579.51 +13%
Ares Management Corporation ARES $124.72 $119.25 −4%
Northern Trust Corporation NTRS $173.40 $122.02 −30%
Raymond James Financial, Inc RJF $159.39 $312.27 +96%
T. Rowe Price Group TROW $104.17 $208.34 +100%

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Spring Ventures Ltd · Fair Value
8.14 ILA +36%Fair Value
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Cite: Fair Value Calculator (2026). "Spring Ventures Ltd Fair Value". https://www.fairvalue-calculator.com/stock/SPRG

Frequently asked questions

Is Spring Ventures Ltd (SPRG) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 8.14 ILA versus the last price from Sep 16, 2026 of 5.24 ILA, about +55% upside (undervalued).
What is the fair value of SPRG?
Our model-based fair value for Spring Ventures Ltd is 8.14 ILA (as of Sep 24, 2026), built from audited fundamentals. Last price (from Sep 16, 2026): 5.24 ILA.
What is the quality score of SPRG?
Spring Ventures Ltd has a Quality Score of 58/100. 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 Spring Ventures Ltd (SPRG)?
Our model-based price target is the fair value of 8.14 ILA (as of Sep 24, 2026) from 2 valuation models. Cautious scenario 6.10 ILA, optimistic scenario 10.17 ILA. It is a calculation from audited fundamentals, not an analyst target.
What is the Spring Ventures Ltd stock forecast for 2026?
Our models put fair value at 8.14 ILA, about +55% upside versus the last price from Sep 16, 2026 of 5.24 ILA (undervalued). Cautious scenario 6.10 ILA, optimistic scenario 10.17 ILA. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Spring Ventures Ltd (SPRG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Spring Ventures Ltd it is 8.14 ILA per share (as of Sep 24, 2026), against a price of 5.24 ILA. It is the blended result of 2 valuation models (cash flow, earnings, asset, dividend).
Is Spring Ventures Ltd stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SPRG trades below its calculated fair value: price 5.24 ILA, fair value 8.14 ILA, a gap of about +55% (undervalued). 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 SPRG?
No. The price is what the market pays today (5.24 ILA); the fair value is what the company's own numbers justify (8.14 ILA). For Spring Ventures Ltd the two are 2.90 ILA per share apart. That gap is exactly why we show both numbers side by side.
How much is Spring Ventures Ltd worth?
The market values Spring Ventures Ltd at about 44.1M ILA (market capitalisation, as of Sep 24, 2026). Per share that is 5.24 ILA; our models calculate a fair value of 8.14 ILA per share.
What do the bullish and bearish scenarios say about SPRG?
Our models span a range for Spring Ventures Ltd: cautious scenario 6.10 ILA, base 8.14 ILA, optimistic 10.17 ILA per share (as of Sep 24, 2026, price 5.24 ILA). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SPRG?
Spring Ventures Ltd trades at a price-to-earnings ratio of 0.8 (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 8.14 ILA is built from several models across several years.
How solid is the balance sheet of Spring Ventures Ltd (SPRG)?
Balance-sheet figures for Spring Ventures Ltd (as of Sep 24, 2026): return on equity 4.3%, debt of 0.00 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is SPRG from its 52-week high?
Spring Ventures Ltd trades at 5.24 ILA, about 14% below its 52-week high of 6.09 ILA and 12% above the low of 4.70 ILA (as of Sep 16, 2026). Distance from the high says nothing about value: that is what the fair value of 8.14 ILA is for.
Which stocks are comparable to Spring Ventures Ltd?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Corporation, KKR & Co, Apollo Global Management, 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 Spring Ventures Ltd stock attractive at the current price?
The data as of Sep 24, 2026: price 5.24 ILA, calculated fair value 8.14 ILA (+55%), Quality Score 58/100, from 2 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 SPRG calculated?
We run Spring Ventures Ltd through 2 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 8.14 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. Spring Ventures Ltd currently trades 55 % below its own fair value, and the market average says nothing about that. 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 Spring Ventures Ltd (SPRG)?
The latest price we hold is from Sep 16, 2026 and stands at 5.24 ILA. Our model-based fair value is 8.14 ILA, about +55% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Spring Ventures Ltd right now?
The price is below even our cautious bear case (6.10 ILA). The market is more pessimistic than our downside scenario. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Spring Ventures Ltd

How large is the market capitalisation of Spring Ventures Ltd (SPRG)?
The market capitalisation of Spring Ventures Ltd is 44.1M 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 Spring Ventures Ltd (SPRG)?
The price-to-sales ratio of Spring Ventures Ltd is 1.13 (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 Spring Ventures Ltd (SPRG)?
Earnings per share at Spring Ventures Ltd are 6.25 ILA (price ÷ EPS = P/E 0.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Spring Ventures Ltd (SPRG)?
The net margin of Spring Ventures Ltd is 135% (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 Spring Ventures Ltd (SPRG)?
The return on equity (ROE) of Spring Ventures Ltd is 4.3% (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 Spring Ventures Ltd (SPRG)?
On an EBIT basis the return on assets of Spring Ventures Ltd is 7.2% (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 Spring Ventures Ltd (SPRG)?
The operating margin of Spring Ventures Ltd is 65.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Spring Ventures Ltd (SPRG)?
Revenue at Spring Ventures Ltd is growing +14.5% versus a year earlier (3y avg −61.9%). 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 Spring Ventures Ltd (SPRG)?
Earnings per share at Spring Ventures Ltd are growing −80.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Spring Ventures Ltd (SPRG) generate?
The free cash flow of Spring Ventures Ltd is −2.2M ILA (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Spring Ventures Ltd (SPRG) hold?
Spring Ventures Ltd holds more cash than debt, 9.7M ILA net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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