Max Stock (MAXO) AI Stock Analysis

• Market Cap: ₪4.05B
• Dividend Yield: 3.06%
• Average Volume (3M): 284.53K
• Price to Earnings (P/E): 28.5
• Beta (1Y): 0.74
• Revenue Growth: 9.97%
• EPS Growth: 15.86%
• Country: IL
• Employees: 2,146
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Department Stores
• EPS (TTM): 22.00
• Shares Outstanding: 139,776,520
• 10 Day Avg. Volume: 380,818
• 30 Day Avg. Volume: 284,534
• PEG Ratio: 1.83
• Price to Book (P/B): 12.62
• Price to Sales (P/S): 2.50
• P/FCF Ratio: 13.55
• 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): 1.12
• Revenue Forecast (FY): ₪1.57B

• Rating: 71 Outperform
• Price Target: 3,275.00 ▲(32.22% Upside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is driven primarily by solid financial performance (strong growth, improved profitability, and strong 2025 free cash flow) tempered by elevated leverage risk. Technicals are constructive with the price above key moving averages and neutral momentum, while valuation is reasonable with a moderate P/E and a supportive dividend yield.

Positive Factors

Multi-year Revenue Growth

Sustained top-line expansion from ~0.98B to ~1.43B over the period indicates durable demand and successful market penetration. This revenue base supports scale benefits, investment capacity and resilience in cash generation across business cycles over the next 2–6 months and beyond.

Improving Profitability

Gradual margin improvement reflects better cost control or pricing power and demonstrates rising operating leverage. Higher and improving margins increase sustainable earnings power, strengthen internal funding for growth and dividends, and reduce sensitivity to modest revenue shocks.

Strong 2025 Cash Generation

A strong FCF rebound to ~263M and OCF to ~291M materially improves liquidity and financial flexibility. Reliable cash generation underpins debt servicing, capital expenditure and shareholder distributions, and enhances the company’s ability to execute strategic initiatives over the medium term.

Negative Factors

Elevated Leverage

Consistently high debt-to-equity (~2.9x–3.4x) raises refinancing and solvency risk if conditions worsen. Leverage amplifies returns but limits flexibility for capex or M&A, increases interest burden and could force defensive cash use, constraining strategic options in adverse scenarios.

Margin Volatility

Notable swings in gross margin imply exposure to product-mix shifts, pricing pressure or cost fluctuations. This variability reduces predictability of future profitability, complicates planning and increases downside risk to earnings if input costs or competitive pricing persistently pressure margins.

Cash Conversion Variability

Intermittent weak cash conversion, notably in 2021, signals working-capital or timing volatility that can decouple earnings from cash flows. That inconsistency weakens the reliability of reported profits to fund debt paydown, dividends or investment during tighter liquidity periods.

Max Stock Business Overview & Revenue Model

Company Description

Max Stock Ltd. operates various discount stores in Israel. Its stores provide products in various categories, including school supplies, disposable dishes, clothing and textiles, arts and crafts, furniture, home accessories and gifts, toys, cleaning products, plasticware, kitchen and cooking utensils, bithdays, and tools and hardware. The company is based in Caesarea, Israel.

Max Stock Financial Statement Overview

Summary

Strong multi-year revenue growth (~0.98B in 2021 to ~1.43B in 2025) with improved profitability (net margin ~7.0% to ~8.8%) and a sharp 2025 free-cash-flow rebound (~263M). The primary constraint is elevated leverage (debt-to-equity ~2.9x in 2025) alongside some margin and cash-flow volatility.

Income Statement

Revenue has expanded meaningfully over the period (from ~0.98B in 2021 to ~1.43B in 2025), with profitability also improving: net margin rose from ~7.0% (2021) to ~8.8% (2025) and EBIT/EBITDA margins trended higher into 2025. The main weakness is margin volatility—gross margin peaked in 2023–2024 (~41.8%) and then compressed in 2025 (~38.4), suggesting some recent pressure from product mix, pricing, or costs despite strong top-line growth.

Balance Sheet

The balance sheet shows consistently high leverage: debt-to-equity remains elevated (roughly ~2.9x–3.4x across the period, ~2.87x in 2025). Equity has grown (from ~188M in 2021 to ~282M in 2025) and returns on equity are strong (~44% in 2025), but that strength is partly amplified by leverage, which increases risk if operating conditions soften.

Cash Flow

Cash generation strengthened materially in 2025, with operating cash flow rising to ~291M and free cash flow to ~263M (a strong rebound versus 2024). Free cash flow has generally tracked earnings reasonably well in recent years (about ~0.90x of net income in 2025), but the history includes a weak conversion year in 2021 (very low operating and free cash flow versus profit), highlighting potential working-capital or timing volatility.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.43B	1.33B	1.12B	1.05B	976.27M
Gross Profit	547.76M	556.10M	468.24M	418.31M	379.27M
EBITDA	325.62M	279.94M	226.70M	188.56M	180.49M
Net Income	124.92M	108.76M	81.01M	64.16M	68.20M
Balance Sheet
Total Assets	1.37B	1.29B	1.11B	995.32M	972.15M
Cash, Cash Equivalents and Short-Term Investments	163.05M	97.15M	128.86M	80.53M	50.34M
Total Debt	810.45M	794.58M	688.22M	644.88M	643.43M
Total Liabilities	1.07B	1.01B	880.30M	781.09M	771.54M
Stockholders Equity	282.37M	270.94M	221.70M	202.07M	188.08M
Cash Flow
Free Cash Flow	263.09M	88.30M	188.39M	174.26M	6.75M
Operating Cash Flow	291.50M	132.27M	219.26M	201.01M	40.14M
Investing Cash Flow	-28.60M	-44.15M	-31.85M	-26.65M	-11.60M
Financing Cash Flow	-198.20M	-119.80M	-139.11M	-144.17M	-96.47M

Max Stock Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2477.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IL:MAXO, the sentiment is Positive. The current price of 2477 is below the 20-day moving average (MA) of 2922.60, below the 50-day MA of 2912.14, and above the 200-day MA of 2252.38, indicating a neutral trend. The MACD of 4.62 indicates Positive momentum. The RSI at 48.61 is Neutral, neither overbought nor oversold. The STOCH value of 61.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IL:MAXO.

Max Stock Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NTML	73 Outperform	₪3.42B	9.28	―	4.18%	8.53%	39.35%
MAXO	71 Outperform	₪4.05B	28.54	―	3.06%	9.97%	15.86%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
DLEA	60 Neutral	₪2.18B	9.84	―	8.19%	-2.81%	372.63%