Eltek Ltd (ELTK)
NASDAQ:ELTK
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Eltek
(NASDAQ:ELTK)
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Rating:49Neutral
Price Target:
$8.00
▼(-12.09% Downside)
Action:Reiterated
Date:05/20/26
The score is held back primarily by deteriorating financial performance—losses and very weak cash generation with deeply negative free cash flow—alongside bearish technical momentum (below key moving averages and negative MACD). These are partially offset by a low-leverage balance sheet and earnings-call indicators of potential recovery (backlog growth, capacity expansion progress, and reiterated longer-term margin/revenue targets), while valuation support is limited due to a negative P/E despite a moderate dividend yield.
Positive Factors
High-end PCB market position
Eltek focuses on complex PCBs for defense, aerospace and medical markets where certification and technical capability create higher barriers to entry. A recent competitive win vs a large rival and sustained demand for high-end boards suggest durable structural positioning and pricing leverage in mission‑critical segments.
Negative Factors
Weak cash generation
Persistently weak operating cash flow and large negative free cash flow constrain internal funding for the expansion and increase reliance on existing cash or external capital. If negative cash trends continue, the company may need to slow investments or seek financing, which could dilute returns or delay strategic plans.
Read all positive and negative factors
Positive Factors
Negative Factors
High-end PCB market position
Eltek focuses on complex PCBs for defense, aerospace and medical markets where certification and technical capability create higher barriers to entry. A recent competitive win vs a large rival and sustained demand for high-end boards suggest durable structural positioning and pricing leverage in mission‑critical segments.
Read all positive factors
Eltek (ELTK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$56.28M
Dividend Yield2.16%
Average Volume (3M)5.15K
Price to Earnings (P/E)―
Beta (1Y)0.26
Revenue Growth4.15%
EPS Growth-186.73%
CountryUS
Employees329
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.45
Shares Outstanding6,719,827
10 Day Avg. Volume3,262
30 Day Avg. Volume5,150
Financial Highlights & Ratios
PEG Ratio-0.87
Price to Book (P/B)1.24
Price to Sales (P/S)1.12
P/FCF Ratio-12.31
Enterprise Value/Market Cap1.02
Enterprise Value/Revenue1.16
Enterprise Value/Gross Profit14.63
Enterprise Value/Ebitda98.54
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.25
Revenue Forecast (FY)$58.99M
Eltek Business Overview & Revenue Model
Company Description
Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, the Netherlands, and internationally. The company offers a range of custom designed PCBs, including rigid, double-sided, and multi-l...
How the Company Makes Money
Eltek primarily makes money by manufacturing and selling printed circuit boards (PCBs) to customers, generating revenue from production orders based on PCB specifications (e.g., technology complexity, materials, layer count, and required quality/s...
Eltek Earnings Call Summary
Earnings Call Date:May 19, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Neutral
The call described significant near-term operational and financial headwinds — declining revenue, margin deterioration, FX losses, and supply/logistics constraints — that drove a Q1 net loss and EBITDA loss. Offsetting these negatives are a materially larger backlog (more than doubled), two sizeable booked orders for 2026–2027, progress on capacity expansion (first line delivered and installation resumed), a solid cash position with no debt, and reiterated long-term targets (revenue $60–65M; gross margin 26%–28%). The near-term picture is challenging, but the company presents credible operational actions and demand indicators that could support recovery once logistics, FX and installation issues are resolved.Positive Updates
Backlog More Than Doubled, Improving Revenue Visibility
Backlog grew by more than 100% compared to the beginning of the year, including two publicly announced orders with deliveries scheduled across 2026 and 2027, providing stronger medium-term revenue visibility and a foundation for future growth.
Negative Updates
Revenue Decline
Revenues fell to $10.4 million in Q1 2026 from $12.8 million in Q1 2025, a decline of approximately 18.8%, driven by timing and mix of backlog conversion, logistics constraints and FX effects.
Read all updates
Q1-2026 Updates
Positive
Negative
Backlog More Than Doubled, Improving Revenue Visibility
Backlog grew by more than 100% compared to the beginning of the year, including two publicly announced orders with deliveries scheduled across 2026 and 2027, providing stronger medium-term revenue visibility and a foundation for future growth.
Read all positive updates
Company Guidance
Management reiterated that, assuming no further U.S. dollar/ILS devaluation and easing of supply, logistics and labor constraints, completion of its investment plan should enable revenues of roughly $60–65 million and normalized gross margins of about 26%–28% (CEO also referenced 27%–28% in Q&A), with two production lines expected to be operational by year-end; near-term results remain pressured—Q1 2026 revenues were $10.4M (down from $12.8M y/y), gross loss $1.9M (vs. $2.2M gross profit y/y), operating loss $3.3M (vs. $0.7M op. profit y/y), EBITDA loss $2.7M (vs. $1.2M EBITDA y/y), net loss $2.9M or $0.42 per share (vs. net income $1.0M or $0.15 per share y/y), cash used in operations $0.4M, cash of $11.1M and no debt at March 31, 2026; backlog has more than doubled since the start of the year (including two announced orders with deliveries across 2026–2027), management noted FX headwinds increased operational loss by ~$1.3M y/y and said it is implementing price adjustments and allocation quotas while resuming installation and commissioning of new capacity.Eltek Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
78
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.47M | 51.79M | 46.53M | 46.70M | 39.65M | 33.82M |
| Gross Profit | 3.92M | 7.98M | 10.34M | 13.10M | 8.27M | 6.90M |
| EBITDA | 582.00K | 4.45M | 6.64M | 9.12M | 5.53M | 3.31M |
| Net Income | -3.03M | 826.00K | 4.22M | 6.35M | 3.19M | 5.04M |
Balance Sheet | ||||||
| Total Assets | 67.95M | 66.26M | 60.16M | 47.17M | 41.52M | 42.78M |
| Cash, Cash Equivalents and Short-Term Investments | 11.05M | 12.12M | 17.24M | 12.14M | 7.37M | 9.28M |
| Total Debt | 12.12M | 6.40M | 6.02M | 6.66M | 11.30M | 13.75M |
| Total Liabilities | 23.60M | 19.52M | 18.96M | 20.30M | 20.50M | 21.71M |
| Stockholders Equity | 44.35M | 46.74M | 41.19M | 26.87M | 21.02M | 21.07M |
Cash Flow | ||||||
| Free Cash Flow | -5.09M | -4.72M | -4.97M | 6.43M | 802.00K | 2.34M |
| Operating Cash Flow | 172.82K | 632.00K | 4.54M | 8.86M | 3.83M | 3.88M |
| Investing Cash Flow | 4.48M | -4.82M | -15.87M | -2.96M | -3.03M | -1.65M |
| Financing Cash Flow | -1.31M | -1.24M | 9.61M | -3.81M | -1.64M | 2.12M |
Eltek Technical Analysis
Positive
9.10
Price Trends
8.40
Negative
8.64
Negative
9.43
Negative
Market Momentum
-0.12
Positive
52.39
Neutral
32.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ELTK, the sentiment is Positive. The current price of 9.1 is above the 20-day moving average (MA) of 8.30, above the 50-day MA of 8.40, and below the 200-day MA of 9.43, indicating a neutral trend. The MACD of -0.12 indicates Positive momentum. The RSI at 52.39 is Neutral, neither overbought nor oversold. The STOCH value of 32.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ELTK.
Eltek Risk Analysis
Eltek disclosed 49 risk factors in its most recent earnings report. Eltek reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Eltek Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $43.79M | -138.32 | 25.68% | ― | -11.25% | -70.72% | |
64 Neutral | $108.04M | -72.19 | 0.15% | ― | 41.39% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $83.11M | 42.86 | 8.53% | ― | 1.34% | 43.14% | |
51 Neutral | $30.04M | -3.15 | 38.45% | ― | -36.94% | ― | |
49 Neutral | $56.28M | -4.72 | 1.85% | 2.16% | 4.15% | -186.73% |
* Technology Sector Average
ELTK
Eltek
8.38
-1.63
-16.25%
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17.46
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-2.35%
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1.79
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SOTK
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1.89
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-68.71%
Eltek Corporate Events
Eltek Swings to First-Quarter Loss as Currency and Regional Disruptions Bite
May 19, 2026
Eltek Ltd., a leading global PCB manufacturer focused on high-end applications for defense, aerospace and medical industries, reported its first-quarter 2026 results on May 19, 2026, showing significant pressure on profitability. The company opera...
Eltek Schedules May 19, 2026 Release and Call for Q1 Results
May 7, 2026
Eltek Ltd., a global specialist in advanced printed circuit boards for high-end defense, aerospace and medical markets, operates from Israel with international subsidiaries and distribution channels, and maintains stringent quality and regulatory ...
Eltek Secures $5.3 Million International PCB Order, Warns on Q1 2026 Results
Apr 1, 2026
Eltek Ltd., a leading global PCB manufacturer serving high-end markets such as defense, aerospace and medical, announced on April 1, 2026 that it has secured purchase orders totaling approximately $5.3 million from an international customer. The o...
Eltek Files 2025 Annual Report With U.S. SEC
Mar 26, 2026
Eltek Ltd., a global maker of advanced printed circuit boards, reported that on March 26, 2026 it filed its 2025 annual report, including audited consolidated financial statements for the year ended December 31, 2025, with the U.S. Securities and ...
Eltek Invests Through Margin Squeeze as 2025 Profit Falls Despite Higher Sales
Mar 9, 2026
On March 9, 2026, Eltek reported its full‑year and fourth‑quarter 2025 results, showing revenues up 11% to $51.8 million but a sharp drop in net income to $0.8 million from $4.2 million a year earlier. Fourth‑quarter revenue clim...
Eltek Sets March 9, 2026 Date for Q4 and Full-Year 2025 Results
Mar 2, 2026
Eltek Ltd., a global producer of advanced printed circuit boards based in Israel, focuses on complex, high-end PCB solutions such as HDI, multilayer and flex-rigid boards for defense, aerospace and medical customers worldwide. The company operates...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.