Tomer Energy Royalties 2012 Ltd (TOEN) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Tomer Energy Royalties 2012 Ltd ILS 7.43, price ILS 15.60, upside -52.4%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range 5.06 ILA – 25.16 ILA · fair‑value band 6.09 ILA – 9.89 ILA · the 15.60 ILA price screens above the 7.43 ILA fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 4, 2026.
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Tomer Energy Royalties (2012) Ltd, a special-purpose yield company, holds the right to receive overriding royalties in respect of oil and/or gas, and/or other valuable materials derived from the shares of various oil and gas companies and entities in Israel. It holds rights to receive royalties from the Tamar Reservoir project.
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Tomer Energy Royalties (2012) Ltd, a special-purpose yield company, holds the right to receive overriding royalties in respect of oil and/or gas, and/or other valuable materials derived from the shares of various oil and gas companies and entities in Israel. It holds rights to receive royalties from the Tamar Reservoir project. The company was formerly known as Delek Royalties (2012) Ltd and changed its name to Tomer Energy Royalties (2012) Ltd in June 2021. Tomer Energy Royalties (2012) Ltd was founded in 2012 and is based in Yakum, Israel.
Stock analysis
Tomer Energy Royalties 2012 Ltd (TOEN) currently trades at 15.60 ILA, while our model-based Fair Value estimate is 7.43 ILA, 52.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of 13.97 ILA per share, and 0 of the 21 models we run sit above the 15.60 ILA price.
Bear case: the Earnings-Based group reads lowest at 1.77 ILA, and 21 of the 21 models stay below the price. Evidence for this calculation is high.
Scenario range: 6.09 ILA (bear) to 9.89 ILA (bull), the price of 15.60 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 72/100 (solid quality), in the Energy sector.
Mixed Growth: Spin-off in 2025: revenue and profit before it include the divested business. Growth is measured afresh from 2025.
Tomer Energy Royalties 2012 Ltd reported revenue of $16.3M in FY2025 versus $18.4M in FY2021, a compound −2.9%/yr. Reported net income was $5.9M in FY2025, compounding +10.2%/yr from FY2021.
Key figures
Market cap 312M ILA · P/E ratio 17.5 · P/S ratio 6.29 · EPS (TTM) 0.8900 ILA · Dividend yield 2.4% · Net margin 35.9% · Return on equity 6.1% · Return on assets (EBIT) 5.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at 10% fair-value upside, at −52%, TOEN screens richer than that median.
Fair Value models
Bear 6.09 ILAFair Value 7.43 ILABull 9.89 ILA
Price 15.60 ILA · Upside -52.4%
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 (0.6779 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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.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.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.
+13.9%
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.
−1.2%
Revenue growth 6 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.
−0.3%
’18
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’21
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’25
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.
≈ −8.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−10.6%
Dividend (yield on the price)2.4%
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.73% → 55%
⚠ Revenue per share shrinking 3.7%/yr over ~5Y (margins eroding too) ⓘ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.
⚠ Rate on operating basis: 2025 sits 74% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more 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).
+13.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +10.8% a year for the price.
Compare Tomer Energy Royalties 2012 Ltd with another stock
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.Oil & Gas E&P · 279 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside−52.4% · Bottom 25%
Profitability
Return on equity (TTM)6.1% · Above median
Return on assets3.2% · Above median
Net margin (TTM)21.6% · Above median
Operating margin (TTM)29.6% · Below median
Growth and dividend
Revenue growth11.6% · Below median
Dividend yield (TTM)2.4% · Below median
Balance sheet
Debt / equity0.60× · Above median
Valuation Multiplesvs Oil & Gas E&P median · lower = cheaper
P/E (TTM)17.5× · Pricier than median
P/B1.10× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (TTM)3.81× · Pricier than median
P/FCF9.1× · Cheaper than median
EV/EBITDA10.8× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)58· sector 84
PAST (return on equity)25· sector 23
HEALTH (low debt)70· sector 85
DIVIDEND (yield)49· sector 70
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.
Cite: Fair Value Calculator (2026). "Tomer Energy Royalties 2012 Ltd Fair Value". https://www.fairvalue-calculator.com/stock/TOEN
Frequently asked questions
Is Tomer Energy Royalties 2012 Ltd (TOEN) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of 7.43 ILA versus a price of 15.60 ILA, about −52% upside (overvalued).
What is the fair value of TOEN?
Our model-based fair value for Tomer Energy Royalties 2012 Ltd is 7.43 ILA (as of Oct 4, 2026), built from audited fundamentals. The current price: 15.60 ILA.
What is the quality score of TOEN?
Tomer Energy Royalties 2012 Ltd has a Quality Score of 72/100. 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 Tomer Energy Royalties 2012 Ltd (TOEN)?
Our model-based price target is the fair value of 7.43 ILA (as of Oct 4, 2026) from 21 valuation models. Cautious scenario 6.09 ILA, optimistic scenario 9.89 ILA. It is a calculation from audited fundamentals, not an analyst target.
What is the Tomer Energy Royalties 2012 Ltd stock forecast for 2026?
Our models put fair value at 7.43 ILA, about −52% upside versus a price of 15.60 ILA (overvalued). Cautious scenario 6.09 ILA, optimistic scenario 9.89 ILA. The calculation is refreshed regularly with new filings.
What is the revenue of Tomer Energy Royalties 2012 Ltd (TOEN)?
Tomer Energy Royalties 2012 Ltd reported trailing-twelve-month revenue of about $26.8M (latest available figure, as of Oct 4, 2026).
Does Tomer Energy Royalties 2012 Ltd pay a dividend?
Tomer Energy Royalties 2012 Ltd currently shows a dividend yield of about 2.43% relative to its recent price (as of Oct 4, 2026).
What growth is priced into Tomer Energy Royalties 2012 Ltd (TOEN)?
For today's price to be fair in a discounted-cash-flow model, Tomer Energy Royalties 2012 Ltd would have to grow free cash flow by +13.4 % per year for five years (discount rate 14.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -5.2 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of TOEN use?
Our models discount Tomer Energy Royalties 2012 Ltd at 14.6 %: a base by market capitalisation (micro), 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 Tomer Energy Royalties 2012 Ltd that is +13.4 % per year a year over ten years, using the same discount rate (14.6 %) and the same formula as our fair value.
How much growth has Tomer Energy Royalties 2012 Ltd (TOEN) delivered so far?
Over the past 5 years revenue at Tomer Energy Royalties 2012 Ltd grew -5.2 % a year. The price currently implies +13.4 % 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 Tomer Energy Royalties 2012 Ltd (TOEN) growing?
The median revenue growth in the sector is +11.1 % a year. That is the yardstick for the growth priced into Tomer Energy Royalties 2012 Ltd (+13.4 % 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 Tomer Energy Royalties 2012 Ltd (TOEN)?
The free-cash-flow yield on the price is 11.04 %: that much free cash flow Tomer Energy Royalties 2012 Ltd produces per unit of market value. When it exceeds the discount rate of our models (14.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Tomer Energy Royalties 2012 Ltd (TOEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tomer Energy Royalties 2012 Ltd it is 7.43 ILA per share (as of Oct 4, 2026), against a price of 15.60 ILA. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Tomer Energy Royalties 2012 Ltd stock overvalued or undervalued in 2026?
As of Oct 4, 2026, TOEN trades above its calculated fair value: price 15.60 ILA, fair value 7.43 ILA, a gap of about −52% (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 TOEN?
No. The price is what the market pays today (15.60 ILA); the fair value is what the company's own numbers justify (7.43 ILA). For Tomer Energy Royalties 2012 Ltd the two are 8.17 ILA per share apart. That gap is exactly why we show both numbers side by side.
How much is Tomer Energy Royalties 2012 Ltd worth?
The market values Tomer Energy Royalties 2012 Ltd at about 312M ILA (market capitalisation, as of Oct 4, 2026). Per share that is 15.60 ILA; our models calculate a fair value of 7.43 ILA per share.
What do the bullish and bearish scenarios say about TOEN?
Our models span a range for Tomer Energy Royalties 2012 Ltd: cautious scenario 6.09 ILA, base 7.43 ILA, optimistic 9.89 ILA per share (as of Oct 4, 2026, price 15.60 ILA). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TOEN?
Tomer Energy Royalties 2012 Ltd trades at a price-to-earnings ratio of 17.5 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 7.43 ILA is built from several models across several years. Other multiples: P/B 1.1, P/S 3.8, EV/EBITDA 10.8.
How solid is the balance sheet of Tomer Energy Royalties 2012 Ltd (TOEN)?
Balance-sheet figures for Tomer Energy Royalties 2012 Ltd (as of Oct 4, 2026): return on equity 6.1%, debt of 0.60 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is TOEN from its 52-week high?
Tomer Energy Royalties 2012 Ltd trades at 15.60 ILA, about 38% below its 52-week high of 25.16 ILA and at the low of 15.60 ILA (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of 7.43 ILA is for.
Which stocks are comparable to Tomer Energy Royalties 2012 Ltd?
From the same area (Energy) we also value ConocoPhillips explores for,, CNOOC Limited, Canadian Natural Resources Limited, EOG Resources, 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 Tomer Energy Royalties 2012 Ltd stock attractive at the current price?
The data as of Oct 4, 2026: price 15.60 ILA, calculated fair value 7.43 ILA (−52%), Quality Score 72/100, from 21 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 TOEN calculated?
We run Tomer Energy Royalties 2012 Ltd through 21 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 7.43 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 15.0 % above its aggregate fair value. Tomer Energy Royalties 2012 Ltd 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 Tomer Energy Royalties 2012 Ltd (TOEN)?
The closing price on Oct 1, 2026 was 15.60 ILA. Our model-based fair value is 7.43 ILA, about −52% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tomer Energy Royalties 2012 Ltd right now?
A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety. The price sits above even our optimistic bull case (9.89 ILA). The favourable scenario is already priced in.
Key figures of Tomer Energy Royalties 2012 Ltd
How large is the market capitalisation of Tomer Energy Royalties 2012 Ltd (TOEN)?
The market capitalisation of Tomer Energy Royalties 2012 Ltd is 312M 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 Tomer Energy Royalties 2012 Ltd (TOEN)?
The price-to-sales ratio of Tomer Energy Royalties 2012 Ltd is 6.29 (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 Tomer Energy Royalties 2012 Ltd (TOEN)?
Earnings per share at Tomer Energy Royalties 2012 Ltd are 0.8900 ILA (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tomer Energy Royalties 2012 Ltd (TOEN)?
The dividend yield of Tomer Energy Royalties 2012 Ltd is 2.4% (payout 42.6%). 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 Tomer Energy Royalties 2012 Ltd (TOEN)?
The net margin of Tomer Energy Royalties 2012 Ltd is 35.9% (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 Tomer Energy Royalties 2012 Ltd (TOEN)?
The return on equity (ROE) of Tomer Energy Royalties 2012 Ltd is 6.1% (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 Tomer Energy Royalties 2012 Ltd (TOEN)?
On an EBIT basis the return on assets of Tomer Energy Royalties 2012 Ltd is 5.3% (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 Tomer Energy Royalties 2012 Ltd (TOEN)?
The operating margin of Tomer Energy Royalties 2012 Ltd is 29.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tomer Energy Royalties 2012 Ltd (TOEN)?
Revenue at Tomer Energy Royalties 2012 Ltd is growing +11.6% versus a year earlier (3y avg −12.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Tomer Energy Royalties 2012 Ltd (TOEN) carry?
The net debt of Tomer Energy Royalties 2012 Ltd is $62.6M (fiscal year 2025, ≈ 5.5 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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