Next Vision (NXSN) AI Stock Analysis

• Market Cap: ₪31.87B
• Dividend Yield: 0.77%
• Average Volume (3M): 369.18K
• Price to Earnings (P/E): 33.2
• Beta (1Y): 1.07
• Revenue Growth: 39.62%
• EPS Growth: 40.53%
• Country: IL
• Employees: 88
• Sector: Technology
• Sector Strength: 88
• Industry: Security & Protection Services
• EPS (TTM): 102.61
• Shares Outstanding: 91,319,440
• 10 Day Avg. Volume: 315,690
• 30 Day Avg. Volume: 369,175
• PEG Ratio: 0.71
• Price to Book (P/B): 8.98
• Price to Sales (P/S): 30.34
• P/FCF Ratio: 80.70
• 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: ₪40,500.00
• Price Target Upside: 175.51% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 2.17
• Revenue Forecast (FY): ₪275.00M

• Rating: 82 Outperform
• Price Target: 41,192.00 ▲(180.22% Upside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is driven primarily by exceptional financial strength (high growth, strong profitability, and very low leverage), supported by a clear upward technical trend. Offsetting this, the P/E is elevated and the latest year shows weaker cash conversion versus reported earnings, which adds execution/sustainability risk.

Positive Factors

Rapid revenue growth

Sustained multi-year revenue expansion demonstrates meaningful market traction for NextVision's stabilized EO/IR payloads. Growing scale supports stronger supplier leverage, product validation with systems integrators, and the potential for recurring aftermarket sales and services that strengthen long-term top-line durability.

High profitability

Exceptionally high reported margins and sharply higher net income point to strong pricing power or cost structure advantages in EO/IR products. Durable margin levels provide cash flow to fund R&D, support service offerings, and absorb competitive pressure, improving the firm's ability to reinvest for sustained differentiation.

Very strong balance sheet

Minimal leverage and a large equity base give the company significant financial flexibility to fund growth, weather demand swings, and pursue strategic investments. Low debt reduces refinancing risk and supports durability of operations and supplier/customer confidence over a multi-quarter horizon.

Negative Factors

Weaker cash conversion in 2025

A sizable gap between reported earnings and operating cash flow indicates possible working-capital strains or non-cash gains in 2025. If this pattern persists, it can constrain free cash available for capex, servicing growth, or shareholder returns, and raises execution risk despite strong reported profitability.

Large balance-sheet step-change

A major one-year expansion in equity and assets suggests a capital raise, revaluation, or similar event. Such structural changes can alter per-share economics, ownership, and reported metrics; investors should monitor how proceeds are deployed and whether the scale-up reflects organic demand or financing-driven expansion.

Sustainability risk of outsized margins

Extraordinarily high margins reported at smaller scale may be harder to sustain as the company scales. Volume-related costs, warranty/service obligations, or competitive pricing could compress margins over time; reliance on one-off gains would undermine long-term profit durability if not replaced by recurring operational drivers.

Next Vision Business Overview & Revenue Model

Company Description

NextVison Stabilized Systems, Ltd. develops, manufactures, and markets stabilized day and night cameras for ground and aerial vehicles. The company was incorporated in 2009 and is based in Kfar Saba, Israel.

How the Company Makes Money

NextVision generates revenue primarily from selling its stabilized EO/IR payloads and associated hardware to customers that integrate these systems into drones and other platforms for ISR missions. Revenue is typically recognized through (1) product sales of camera/payload units (the main driver), and may be complemented by (2) sales of accessories, spares, and replacement parts tied to the installed base, and (3) services such as maintenance, repairs, and technical support/training when contracted. Information on specific pricing, customer concentration, contract structure (e.g., long-term vs. purchase-order driven), and named partnerships is null.

Next Vision Financial Statement Overview

Summary

Very strong fundamentals: rapid multi-year revenue growth (7.9M in 2020 to 182.2M in 2025), unusually high profitability in 2024, and sharply higher 2025 net income (112.2M vs. 66.4M). Balance sheet leverage is minimal, supporting resilience. Key watch-outs are the large 2024–2025 step-change in equity/assets and weaker 2025 cash conversion versus earnings.

Income Statement

The company shows exceptional profitability and strong acceleration in scale. Annual revenue grew from 7.9M (2020) to 182.2M (2025), with 2025 revenue up ~20.7% year over year. Profitability is unusually strong for the industry: 2024 delivered roughly 72% gross margin and ~58% net margin, and earnings expanded sharply in 2025 (net income 112.2M vs. 66.4M in 2024). The main watch-out is that margins for 2025 are not provided, and the step-change in size and profits warrants monitoring for sustainability versus one-off factors.

Balance Sheet

The balance sheet is very conservative and strengthening. Leverage is minimal: debt-to-equity was ~0.004 in 2024 and total debt remains very small relative to equity even in 2025 (4.0M debt vs. 615.8M equity). Equity and assets expanded materially by 2025, improving financial flexibility and downside protection. The key risk is that the large jump in equity/assets from 2024 to 2025 (equity 137.7M to 615.8M; assets 159.2M to 646.7M) suggests a major balance-sheet event (e.g., capital raise or revaluation), which can change per-share economics even if the company remains financially strong.

Cash Flow

Cash generation is solid and improving, with free cash flow positive every year shown and rising to 68.5M in 2025 (up ~26.8% year over year). Cash conversion has generally been strong: in 2021–2024, free cash flow was a high share of net income (about ~82% to ~96%). The main weakness is that 2025 cash flow did not keep pace with the surge in reported earnings (operating cash flow 68.9M vs. net income 112.2M), implying weaker cash conversion in the latest year and potential working-capital or non-cash earnings effects.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	182.24M	114.93M	51.94M	26.05M	15.03M
Gross Profit	126.10M	82.89M	35.62M	17.26M	9.41M
EBITDA	112.58M	78.09M	28.82M	13.44M	6.85M
Net Income	112.21M	66.40M	27.57M	11.15M	5.74M
Balance Sheet
Total Assets	646.70M	159.16M	96.49M	64.27M	51.37M
Cash, Cash Equivalents and Short-Term Investments	562.41M	122.61M	68.63M	53.90M	42.84M
Total Debt	4.01M	496.00K	671.00K	257.00K	403.00K
Total Liabilities	30.88M	21.46M	16.56M	7.59M	3.56M
Stockholders Equity	615.82M	137.69M	79.93M	56.68M	47.81M
Cash Flow
Free Cash Flow	68.52M	66.01M	20.35M	14.32M	3.67M
Operating Cash Flow	68.89M	68.41M	21.80M	15.60M	4.47M
Investing Cash Flow	-459.20M	-50.10M	7.27M	1.94M	-12.85M
Financing Cash Flow	398.88M	-11.74M	-5.79M	-2.98M	36.69M

Next Vision Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 14700.00
• 50DMA: Positive
• 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:NXSN, the sentiment is Positive. The current price of 14700 is below the 20-day moving average (MA) of 33730.50, below the 50-day MA of 29413.20, and below the 200-day MA of 17734.60, indicating a bullish trend. The MACD of 2030.78 indicates Positive momentum. The RSI at 55.65 is Neutral, neither overbought nor oversold. The STOCH value of 35.12 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IL:NXSN.

Next Vision Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NXSN	82 Outperform	₪31.87B	33.19	―	0.77%	39.62%	40.53%
HLAN	76 Outperform	₪4.85B	18.61	22.56%	1.88%	7.39%	10.64%
ONE	76 Outperform	₪4.73B	20.43	―	2.55%	14.11%	25.79%
FORTY	73 Outperform	₪5.83B	47.62	―	2.68%	1.94%	-8.81%
MTRX	66 Neutral	₪9.02B	23.68	―	2.41%	8.82%	14.25%
MLTM	62 Neutral	₪2.13B	19.95	―	―	11.90%	13.57%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%