Nur (NURI) AI Stock Analysis

• Market Cap: ₪71.23M
• Dividend Yield: N/A
• Average Volume (3M): 6.96K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.58
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IL
• Employees: 15
• Sector: Technology
• Sector Strength: 88
• Industry: Chemicals - Specialty
• EPS (TTM): N/A
• Shares Outstanding: 7,659,280
• 10 Day Avg. Volume: 4,577
• 30 Day Avg. Volume: 6,963
• PEG Ratio: 0.49
• Price to Book (P/B): 5.13
• Price to Sales (P/S): 265.22
• P/FCF Ratio: -11.05
• 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: 42 Neutral
• Price Target: 893.00 ▼(-32.96% Downside)
• Action: Reiterated Date: 03/23/26
• Date: Action: Reiterated 03/23/26

The score is held down primarily by ongoing heavy losses and significant negative free cash flow, indicating elevated execution and funding risk. Technicals also weigh negatively with the price below key moving averages and a negative MACD. The balance sheet’s low leverage and positive equity provide some support, but the negative P/E underscores the lack of sustainable profitability.

Positive Factors

Low leverage / balance-sheet flexibility

Low reported leverage and positive equity give the company structural financial flexibility. With modest debt relative to equity, the firm is better positioned to absorb ongoing losses, access additional financing, and fund operational or strategic investments over the next several months.

Initial revenue traction

Revenue appearing in 2024 after years of zero demonstrates the business has begun commercial activity. While the base is small, sustained top-line generation is a durable prerequisite for scaling operations, validating product-market fit and enabling progressive margin improvement if scaled.

Positive short-term growth indicators

Reported revenue and EPS growth metrics point to an improving operational trajectory. If these trends persist beyond transient effects, they can signal underlying business model progress, helping to reduce losses and improve fundamentals over a multi-month horizon as scaling effects kick in.

Negative Factors

Severe cash burn

Material negative operating and free cash flow indicate the company is consuming cash rather than generating it, creating a structural reliance on external funding. Persistent cash burn threatens runway, raises refinancing or dilution risk, and constrains investment in growth over coming months.

Deep and persistent losses

Large negative gross and net margins show the core business is loss-making at scale. Continued heavy operating losses imply the current business model has not achieved unit economics; absent significant structural changes, profitability is unlikely within a multi-month timeframe.

Negative returns and equity volatility

Extremely poor returns on equity and a history of distorted/negative equity signal capital destruction and volatile balance-sheet metrics. This undermines investor confidence and can materially impair the company's ability to secure patient capital or favorable financing terms over the medium term.

Nur Business Overview & Revenue Model

Company Description

Nur Ink Innovations Ltd engages in the design, development, production, and sale water-based pigmented inks for digital inkjet printing applications in Israel. It offers Digital Sol-Gel, a water-based pigment inks for digital printing; and white water-based pigment dispersion and functional inks for various applications, markets, and technologies. The company was founded in 2018 and is based in Rosh HaAyin, Israel.

Nur Financial Statement Overview

Summary

Financial quality is weak: despite revenue growth to 327k in 2025, profitability remains deeply negative (negative gross profit and ~-28.8% net margin) and cash burn is substantial (operating cash flow about -7.5M and free cash flow about -7.8M). The balance sheet is a relative positive with low leverage (debt-to-equity ~0.13) and positive equity, but sharply negative ROE (~-56%) highlights ongoing erosion risk if losses persist.

Income Statement

The company is still in a heavy loss-making phase despite a recent pickup in sales. Annual revenue rose to 327k in 2025 (up ~76% vs. 2024), but profitability remains very weak with deeply negative gross profit and operating results (gross margin about -9.4% and net margin about -28.8% in 2025). Losses have not meaningfully narrowed, indicating the business has not yet reached a cost structure that can support sustainable profitability.

Balance Sheet

Leverage appears manageable with low debt relative to equity (debt-to-equity ~0.13 in 2025, improving from ~0.21 in 2024), and equity is positive (about 16.9M in 2025). However, returns are sharply negative (return on equity around -56% in 2025), reflecting continued large losses and raising the risk that equity could erode if losses persist.

Cash Flow

Cash generation is a key weakness: operating cash flow and free cash flow are materially negative (about -7.5M and -7.8M in 2025). Free cash flow improved versus 2024 (positive growth rate of ~11.8%), but the business still relies on funding rather than internally generated cash. Cash burn remains closely tied to ongoing net losses, signaling limited near-term self-sufficiency.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	186.00K	327.00K	253.00K	0.00	0.00	0.00
Gross Profit	-3.21M	-3.06M	-2.69M	-1.72M	-84.00	-137.00
EBITDA	-6.20M	-6.99M	-7.56M	-11.35K	-10.18M	-7.07M
Net Income	-8.31M	-9.42M	-9.66M	-12.86M	-11.61M	-7.78M
Balance Sheet
Total Assets	14.09M	22.74M	18.39M	21.83K	33.29K	41.07K
Cash, Cash Equivalents and Short-Term Investments	940.00K	4.14M	5.63M	10.44K	21.33K	32.90K
Total Debt	2.43M	2.17M	2.70M	2.70K	3.12K	3.51K
Total Liabilities	5.15M	5.84M	5.56M	5.76K	5.48K	5.28K
Stockholders Equity	8.94M	16.90M	12.83M	16.08K	27.80K	35.80K
Cash Flow
Free Cash Flow	-7.02M	-7.85M	-7.13M	-10.17K	-8.09K	-9.12K
Operating Cash Flow	-6.84M	-7.50M	-6.61M	-9.32K	-6.27K	-6.34K
Investing Cash Flow	8.87M	-155.00K	418.00K	485.00	-14.40K	-3.31K
Financing Cash Flow	-2.33M	10.04M	5.22M	-447.00	-385.00	42.39K

Nur Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
MSVT	52 Neutral	₪30.98M	-0.68	―	―	-42.73%	11.43%
NURI	42 Neutral	₪71.23M	-2.09	―	―	―	―
ZOOZ	42 Neutral	₪183.76M	-0.77	―	―	36.26%	43.84%
NRGN	40 Underperform	₪35.29M	-2.78	―	―	-23.68%	31.97%