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More Provident Funds

MPP.TA
62
Asset Management · Financial Services
Price
1566.00 ILA
-5.00 (-0.32%)
Market Cap
2.02B ILA
Exchange
Tel Aviv Stock Exchange
Winston Score
62
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Exceptional
Cash Flow
Weak
Stability
Strong
Valuation
Mixed
Dividends
Mixed

Share count rising — dilution

+5.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 128.1M (2021) → 134.8M (2025)

Winston Score History

The full picture

More Provident Funds Ltd is an Israeli financial services company that manages long-term savings products for individuals. Its core offerings include provident funds, pension savings plans, and study funds — accounts that Israeli workers use to save money for retirement or future expenses. The company serves individual savers, employees, and employers across Israel's regulated savings market.

The company earns money by charging management fees as a percentage of the assets it oversees, meaning revenue grows as the total pool of savings under management grows. It operates entirely within Israel and manages tens of billions of shekels in assets, giving it a meaningful position in a market where a handful of large managers dominate. Its main competitive advantage is scale — larger asset pools allow it to spread costs and attract institutional clients — but it faces ongoing regulatory pressure in Israel, where the government periodically caps management fees to protect savers, which can squeeze profit margins over time.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+36.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+7.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

0 ILS/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

12.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~11 months

195M ILS cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

More Provident Funds grew revenue 37% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
47.2%
Healthy — 47.2% gross margin
Profit after running costs
Operating Margin
15.6%
Healthy — 15.6% operating margin
Return on the money invested
ROCE
21.8%
Exceptional — 21.8% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+31.2%
Fast-growing sales (+31.2% YoY)
Profit growth
EPS YoY
+29.2%
Earnings growing fast (+29.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
-24%
Weak — only -24% of profit becomes cash
Spare cash per sale
FCF Margin
-2.7%
Burning cash (-2.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
1.34
Elevated debt (1.34)
Covers its interest
Interest Cover
17.11x
Comfortably covers interest (17.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
24.9x
Growth-priced — P/E 24.9

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
3.20%
Moderate income — 3.20% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
-3.3%
Dividend cut (-3.3% YoY) — warning sign

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