Aluma Infrastr' (ALUMA) AI Stock Analysis

• Market Cap: ₪307.08M
• Dividend Yield: N/A
• Average Volume (3M): 536.27K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.86
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IL
• Employees: 190
• Sector: Real Estate
• Sector Strength: 53
• Industry: Asset Management
• EPS (TTM): N/A
• Shares Outstanding: 307,392,400
• 10 Day Avg. Volume: 396,198
• 30 Day Avg. Volume: 536,272
• PEG Ratio: -0.09
• Price to Book (P/B): 0.30
• Price to Sales (P/S): 1.77
• P/FCF Ratio: -21.47
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: 104.00 ▲(21.92% Upside)
• Action: N/A Date: 01/04/26
• Date: Action: N/A 01/04/26

The score is held back primarily by persistently negative operating and free cash flow and volatile earnings quality, partially offset by a solid, low-leverage balance sheet. Technicals are supportive with price above major moving averages and positive momentum, and valuation looks attractive given the low P/E.

Positive Factors

Low Leverage / Strong Balance Sheet

A consistently low debt-to-equity ratio provides durable financial flexibility: it reduces default risk, allows the firm to fund operations or opportunistic investments during cash shortfalls, and prevents leverage from amplifying earnings volatility over the medium term.

Growing Equity Base

Meaningful equity growth strengthens the capital buffer, improving the firm's capacity to absorb losses and support expansion without adding leverage. Over 2–6 months this makes the company more resilient to operating cash shortfalls and better positioned for strategic investments.

Recent Headline Profitability and Revenue Upside

A large, recent revenue increase and strong reported margins indicate the business can scale and capture economic upside. If sustained and paired with operational improvements, this suggests runway for structural revenue growth and margin expansion over the medium term.

Negative Factors

Persistent Negative Cash Generation

Consistent negative operating and free cash flow is a structural weakness: reported profits are not converting to cash, forcing reliance on balance-sheet liquidity or financing. Over months this constrains reinvestment, dividend capacity, and heightens refinancing or solvency risk if conditions tighten.

Earnings Volatility and Quality Concerns

High year-to-year earnings volatility and signs of non-recurring drivers undermine predictability of core performance. This reduces the reliability of reported profits for planning, increases forecasting risk, and makes capital allocation and valuation outcomes less dependable over the medium term.

Inconsistent Return Performance

Large swings in returns on equity reflect unstable core profitability and inconsistent business economics. Such volatility complicates long-term investor expectations, may impair strategic decision-making, and signals risk that favorable headline results could reverse in a few quarters.

Aluma Infrastr' Business Overview & Revenue Model

Company Description

Aluma Infrastructure Fund (2020) Ltd., an infrastructure investment fund, focuses on infrastructure projects in Israel. The company was founded in 2020 and is based in Tel Aviv, Israel.

How the Company Makes Money

Aluma Infrastr' Financial Statement Overview

Summary

Strong balance sheet (low leverage and growing equity) and strong recent headline profitability, but earnings are highly volatile and operating/free cash flow are negative every year (2020–2024), raising material concerns about earnings quality and cash conversion.

Income Statement

Profitability is reported as very strong in the last two annual periods, with 2024 revenue jumping sharply (up ~339%) and high reported gross and operating profitability in 2024. However, results are highly volatile across years (large losses in 2022 and unusually extreme margins in 2020–2021 and 2023), suggesting earnings are not consistently tied to the revenue base and may be driven by non-recurring items or fair-value/one-time gains. Overall: strong recent headline profitability, but low consistency and predictability.

Balance Sheet

The balance sheet looks solid and conservatively levered: debt-to-equity is low across recent years (~0.17–0.27 since 2022), and equity has grown meaningfully from 2020 to 2024. Return on equity is positive in 2023–2024 (and negative in 2022), indicating improving profitability after a weak year. Key risk: the swing from negative to positive returns year-to-year points to earnings volatility, but leverage is not currently amplifying that risk.

Cash Flow

Cash generation is the weakest area: operating cash flow and free cash flow are negative in every year shown (2020–2024), including -6.1M in 2024 and -7.9M in 2023. This means reported profits are not translating into cash, and the business appears reliant on balance-sheet liquidity and/or financing to fund operations and investment. While the cash burn magnitude fluctuates, the consistent negative trend is a material financial quality concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	27.49M	74.01M	9.53M	3.87M	554.00K	60.00K
Gross Profit	17.63M	64.90M	1.77M	-3.06M	-4.09M	-970.00K
EBITDA	-22.99M	0.00	90.22M	-43.01M	82.31M	6.13M
Net Income	-14.14M	42.35M	64.96M	-33.54M	62.44M	4.49M
Balance Sheet
Total Assets	582.83M	563.86M	510.26M	385.79M	348.18M	77.31M
Cash, Cash Equivalents and Short-Term Investments	58.54M	26.55M	45.70M	121.24M	100.16M	5.78M
Total Debt	119.19M	76.69M	77.16M	79.22M	0.00	45.00K
Total Liabilities	162.04M	122.83M	111.58M	93.51M	23.38M	2.97M
Stockholders Equity	420.80M	441.03M	398.68M	292.28M	324.80M	74.33M
Cash Flow
Free Cash Flow	-4.21M	-6.09M	-7.87M	-5.07M	-4.68M	-1.74M
Operating Cash Flow	-4.21M	-6.09M	-7.87M	-5.07M	-4.68M	-1.74M
Investing Cash Flow	4.38M	2.67M	-96.00M	-134.65M	-85.86M	-61.34M
Financing Cash Flow	35.63M	-2.06M	-2.06M	80.25M	184.93M	68.85M

Aluma Infrastr' Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALUMA	66 Neutral	₪307.08M	-2.95	―	―	―	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%