Fact based stock research
The Phoenix Holdings (TASE:PHOE)

IL0007670123

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

The Phoenix Holdings stock research in summary

fnx.co.il

ANALYSIS: With an Obermatt Combined Rank of 10 (worse than 90% compared with investment alternatives), The Phoenix Holdings (Multi-line Insurance, Israel) shares have lower financial characteristics compared with similar stocks. Shares of The Phoenix Holdings are a good value (attractively priced) with a consolidated Value Rank of 59 (better than 59% of alternatives), show above-average growth (Growth Rank of 55) but are riskily financed (Safety Rank of 34), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 10, is a sell recommendation based on The Phoenix Holdings's financial characteristics. As the company The Phoenix Holdings's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 59) and above-average growth (Obermatt Growth Rank of 55), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 34) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	59
Growth Rank	55
Safety Rank	34
Combined Rank	10

Country	Israel
Industry	Multi-line Insurance
Index
Size class	X-Large

14-Nov-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: The Phoenix Holdings

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	98	35	49	59
GROWTH
GROWTH	88	100	7	55
SAFETY
SAFETY	97	34	34	34
SENTIMENT
SENTIMENT	n/a	79	71	^new
360° VIEW
360° VIEW	n/a	89	71	^new

Most recent update of the stock research: 14-Nov-2024. Financial reporting date used for calculating ranks: 30-Jun-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better The Phoenix Holdings is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	98	35	49	59
GROWTH
GROWTH	88	100	7	55
SAFETY
SAFETY	97	34	34	34
COMBINED
COMBINED	100	10	10	10

Last update of combined financial performance: 6-Oct-2022. Stock analysis on combined financial performance: The higher the rank of The Phoenix Holdings the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 59 (better than 59% compared with alternatives), The Phoenix Holdings shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for The Phoenix Holdings. Price-to-Profit (also referred to as price-earnings, P/E) is 79 which means that the stock price compared with what market professionals expect for future profits is lower than for 79% of comparable companies, indicating a good value concerning The Phoenix Holdings's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 61, which means that the stock price is lower as regards to invested capital than for 61% of comparable investments. On the other hand, Price-to-Sales is less favorable than for 57% of alternatives (only 43% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than for 51% of comparable companies, making the stock more expensive compared with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 59, is a buy recommendation based on The Phoenix Holdings's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high concerning expected revenues, the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting Group or BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than distribute it to shareholders through dividends, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	92	48	57	43
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	79	41	54	79
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	51	37	65	61
DIVIDEND YIELD
DIVIDEND YIELD	72	35	28	49
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	98	35	49	59

Last update of Value Rank: 14-Nov-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of The Phoenix Holdings; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 55 (better than 55% compared with alternatives), The Phoenix Holdings shows an above-average growth dynamic in its industry. Investors also speak of positive momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for The Phoenix Holdings. Profit Growth has a rank of 96, which means that currently professionals expect the company to grow its profits more than 96% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 87 (above 87% of alternative investments). But Sales Growth has a below the median rank of 1, which means that, currently, professionals expect the company to grow less than 99% of its competitors, and Capital Growth also has a lower rank of 29. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 55, is a buy recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for The Phoenix Holdings. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	95	17	1	1
PROFIT GROWTH
PROFIT GROWTH	n/a	99	1	96
CAPITAL GROWTH
CAPITAL GROWTH	n/a	95	77	29
STOCK RETURNS
STOCK RETURNS	94	99	39	87
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	88	100	7	55

Last update of Growth Rank: 14-Nov-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of The Phoenix Holdings.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 34 (better than 34% compared with alternatives), the company The Phoenix Holdings has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of The Phoenix Holdings is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for The Phoenix Holdings and the other two below average. Refinancing is at 98, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 98% of its competitors. But Leverage is high with a rank of 27, meaning the company has an above-average debt-to-equity ratio. It has more debt than 73% of its competitors. Liquidity is also on the riskier side with a rank of 35, meaning the company generates less profit to service its debt than 65% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 34 (worse than 66% compared with alternatives), The Phoenix Holdings has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for The Phoenix Holdings are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with The Phoenix Holdings and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	100	18	28	27
REFINANCING
REFINANCING	92	98	98	98
LIQUIDITY
LIQUIDITY	88	82	55	35
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	97	34	34	34

Last update of Safety Rank: 6-Oct-2022. Stock analysis on safety metrics: The higher the rank, the lower the leverage of The Phoenix Holdings and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	100	96	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	2	6	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	55	39	^new
MARKET PULSE
MARKET PULSE	n/a	92	93	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	79	71	^new

Last update of Sentiment Rank: 14-Nov-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for The Phoenix Holdings.
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