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Intercure
(TASE:INCR)
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Rating:55Neutral
Price Target:
318.00
▼(-38.16% Downside)
Action:Reiterated
Date:06/23/26
The score is driven primarily by a mixed financial picture: a clear 2025 improvement in revenue and cash flow, but continued losses and negative ROE limit confidence in the turnaround. Technicals add moderate support via positive near-term momentum, while valuation remains pressured due to negative earnings and no dividend support.
Positive Factors
Cash generation recovery
The swing to positive operating cash flow (~16.8M) and free cash flow (~13.3M) in 2025 reflects improved working-capital and spending discipline. Durable cash generation reduces reliance on external financing, enables reinvestment or deleveraging, and supports operational resilience over the coming months.
Negative Factors
Persistent unprofitability
Continued net losses through 2025 and a -13.2% margin show the company still cannot reliably convert revenue into profit. Prolonged unprofitability erodes equity, restricts reinvestment, and increases the likelihood of future external financing needs that could dilute returns or constrain strategy.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation recovery
The swing to positive operating cash flow (~16.8M) and free cash flow (~13.3M) in 2025 reflects improved working-capital and spending discipline. Durable cash generation reduces reliance on external financing, enables reinvestment or deleveraging, and supports operational resilience over the coming months.
Read all positive factors
Intercure (INCR) vs. iShares MSCI Israel ETF (EIS)
Market Cap
₪177.57M
Dividend YieldN/A
Average Volume (3M)91.19K
Price to Earnings (P/E)―
Beta (1Y)0.65
Revenue GrowthN/A
EPS GrowthN/A
CountryIL
Employees285
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)-0.71
Shares Outstanding59,228,558
10 Day Avg. Volume173,192
30 Day Avg. Volume91,185
Financial Highlights & Ratios
PEG Ratio0.09
Price to Book (P/B)0.46
Price to Sales (P/S)0.68
P/FCF Ratio13.83
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Intercure Business Overview & Revenue Model
Company Description
InterCure Ltd., alongside its affiliated companies, is actively involved in the medical cannabis industry, operating both domestically in Israel and internationally. Their activities encompass the entire spectrum from research and cultivation to p...
How the Company Makes Money
InterCure primarily makes money by selling medical cannabis products through two main channels: (1) wholesale/medical cannabis supply—selling cannabis flower and related products to third parties (such as pharmacies and other distributors) in Isra...
Intercure Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
58
Neutral
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 270.20M | 238.84M | 355.55M | 388.68M | 219.68M |
| Gross Profit | 33.18M | 30.23M | 105.09M | 155.08M | 91.13M |
| EBITDA | -7.29M | -51.31M | -23.90M | 70.23M | 31.17M |
| Net Income | -35.71M | -67.80M | -61.96M | 44.82M | 4.69M |
Balance Sheet | |||||
| Total Assets | 690.55M | 762.57M | 786.61M | 958.01M | 686.32M |
| Cash, Cash Equivalents and Short-Term Investments | 46.67M | 78.65M | 101.33M | 232.79M | 196.55M |
| Total Debt | 183.01M | 211.40M | 195.68M | 255.16M | 108.91M |
| Total Liabilities | 294.19M | 364.90M | 329.55M | 436.53M | 227.13M |
| Stockholders Equity | 396.52M | 396.97M | 455.11M | 501.31M | 448.03M |
Cash Flow | |||||
| Free Cash Flow | 13.29M | -71.30M | -56.25M | 31.52M | 10.99M |
| Operating Cash Flow | 16.84M | -66.93M | -53.63M | 51.27M | 25.02M |
| Investing Cash Flow | -1.99M | 17.69M | 4.77M | -142.50M | -65.21M |
| Financing Cash Flow | -46.66M | 26.45M | -82.89M | 120.45M | 197.94M |
Intercure Technical Analysis
Neutral
514.20
Price Trends
286.34
Positive
269.50
Positive
340.01
Negative
Market Momentum
4.30
Positive
49.25
Neutral
16.08
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IL:INCR, the sentiment is Neutral. The current price of 514.2 is above the 20-day moving average (MA) of 308.69, above the 50-day MA of 286.34, and above the 200-day MA of 340.01, indicating a neutral trend. The MACD of 4.30 indicates Positive momentum. The RSI at 49.25 is Neutral, neither overbought nor oversold. The STOCH value of 16.08 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IL:INCR.
Intercure Peers Comparison
UnderperformOutperform
Sector (55)
IL:INCR
Intercure
298.80
-208.70
-41.12%
IL:TGTR
Together
221.40
-150.30
-40.44%
IL:TKUN
Tikun Olam Canb
373.70
335.50
878.27%
IL:CNZN.M
Canzon-M
155.20
54.20
53.66%
IL:SEMG
Seach Medical
267.00
1.18
0.44%
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.