InterCure Ltd. (INCR) 10-Year Financial Performance & Capital Metrics

INCR • • Industrial / General

HealthcareSpecialty & Generic PharmaCannabis & Hemp ProductsMedical Cannabis Producers

AboutInterCure Ltd., together with its subsidiaries, engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Israel and internationally. It offers dried cannabis inflorescences and cannabis extract mixed with oil. The company also invests in biomed sector. InterCure Ltd. was incorporated in 1994 and is headquartered in Herzliya, Israel.Show more

Revenue $239M -32.8%
EBITDA -$52M -82.5%
Net Income -$68M -9.4%
EPS (Diluted) -1.42 -4.4%
Gross Margin 12.66% -57.2%
EBITDA Margin -21.7% -171.7%
Operating Margin -28.14% -140.7%
Net Margin -28.38% -62.9%
ROE -15.86% -25.3%
ROIC -9.31% -63.7%
Debt/Equity 0.53 +24.2%
Interest Coverage -3.26 -89.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 93.0%
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Weak momentum: RS Rating 8 (bottom 8%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y45.41%

5Y92.97%

3Y2.83%

TTM-32.82%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-9.42%

EPS CAGR

10Y-

5Y-

3Y-

TTM-11.68%

ROCE

10Y Avg-12.26%

5Y Avg-3.38%

3Y Avg-3.42%

Latest-12.26%

Peer Comparison

Medical Cannabis Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
ACBAurora Cannabis Inc.	239.88M	4.24	148.77	27.01%	7.68%	4.54%	0.17
IXHLIncannex Healthcare Limited	132.26M	0.38	-0.28	378.7%	-1671.96%	-466.4%	0.02
TLRYTilray Brands, Inc.	1.13B	9.71	-0.29	4.84%	-252.55%	-136.55%	0.22
IMCCIM Cannabis Corp.	7.08M	1.35	-0.30	10.71%	-8.96%	-109.13%	5.73
AKANAkanda Corp.	190.81K	1.31	-0.33	-61.27%	-12.14%	-8.5%	0.08
INCRInterCure Ltd.	52M	0.95	-0.67	-32.82%	-28.38%	-17.05%	0.53
FLGCFlora Growth Corp.	6.84M	6.54	-5.03	-21.78%	-32.14%	-24.58%	1.09

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.4M	0	0	0	8.93M	65.03M	219.68M	388.68M	355.55M	238.84M
Revenue Growth %	-0.75%	-1%	-	-	-	6.29%	2.38%	0.77%	-0.09%	-0.33%
Cost of Goods Sold+	538.71K	0	0	0	7.45M	33.06M	128.55M	233.6M	250.46M	208.61M
COGS % of Revenue	0.38%	-	-	-	0.83%	0.51%	0.59%	0.6%	0.7%	0.87%
Gross Profit+	862.71K	0	0	0	1.48M	31.98M	91.13M	155.08M	105.09M	30.23M
Gross Margin %	0.62%	-	-	-	0.17%	0.49%	0.41%	0.4%	0.3%	0.13%
Gross Profit Growth %	-0.77%	-1%	-	-	-	20.62%	1.85%	0.7%	-0.32%	-0.71%
Operating Expenses+	3.37M	1.4M	1.12M	9.81M	4.89M	70.38M	62.95M	104.46M	146.66M	97.44M
OpEx % of Revenue	2.41%	-	-	-	0.55%	1.08%	0.29%	0.27%	0.41%	0.41%
Selling, General & Admin	2.19M	1.4M	1.12M	9.81M	81.96M	26.35M	53.46M	97.32M	86.24M	84.63M
SG&A % of Revenue	1.56%	-	-	-	9.18%	0.41%	0.24%	0.25%	0.24%	0.35%
Research & Development	0	0	0	0	1.71M	1.58M	1.24M	632K	388K	414K
R&D % of Revenue	-	-	-	-	0.19%	0.02%	0.01%	0%	0%	0%
Other Operating Expenses	985.81K	369.27K	24.33K	0	-78.77M	42.45M	8.25M	6.51M	60.04M	12.4M
Operating Income+	-2.51M	1.2M	-3.98M	-10.62M	-3.42M	-38.4M	28.19M	50.63M	-41.57M	-67.21M
Operating Margin %	-1.79%	-	-	-	-0.38%	-0.59%	0.13%	0.13%	-0.12%	-0.28%
Operating Income Growth %	0.06%	1.48%	-4.31%	-1.67%	0.68%	-10.24%	1.73%	0.8%	-1.82%	-0.62%
EBITDA+	-2.51M	2.18M	-3.98M	-10.61M	-2.59M	-35.15M	35.58M	62.33M	-28.4M	-51.84M
EBITDA Margin %	-1.79%	-	-	-	-0.29%	-0.54%	0.16%	0.16%	-0.08%	-0.22%
EBITDA Growth %	0.05%	1.87%	-2.82%	-1.67%	0.76%	-12.59%	2.01%	0.75%	-1.46%	-0.83%
D&A (Non-Cash Add-back)	3.9K	979K	4K	10K	828K	3.25M	7.39M	11.7M	13.17M	15.37M
EBIT	-1.88M	-979K	-1.15M	-10.13M	-4.59M	-37.78M	23.78M	58.53M	-37.07M	-66.68M
Net Interest Income+	-207K	0	0	0	-1.83M	-507K	-4.92M	-13.85M	-19.67M	-17.95M
Interest Income	19.52K	0	0	0	141K	21K	130K	844K	4.55M	2.7M
Interest Expense	0	411.59K	639.51K	1.03M	1.97M	528K	5.04M	14.69M	24.22M	20.64M
Other Income/Expense	627.79K	-891K	-1.28M	-2.18M	-3.15M	92K	-9.45M	-6.79M	-19.72M	-20.11M
Pretax Income+	-1.88M	265.42K	-5.26M	-12.8M	-6.57M	-38.31M	18.74M	43.84M	-61.28M	-87.32M
Pretax Margin %	-1.34%	-	-	-	-0.74%	-0.59%	0.09%	0.11%	-0.17%	-0.37%
Income Tax+	0	3.05M	663.84K	0	-673K	-2.27M	11.44M	93K	2.25M	-14.53M
Effective Tax Rate %	1%	1%	1%	1%	0.9%	0.97%	0.25%	1.02%	1.01%	0.78%
Net Income+	-1.88M	265.42K	-5.26M	-12.8M	-5.89M	-37.23M	4.69M	44.82M	-61.96M	-67.8M
Net Margin %	-1.34%	-	-	-	-0.66%	-0.57%	0.02%	0.12%	-0.17%	-0.28%
Net Income Growth %	0.5%	1.14%	-20.81%	-1.43%	0.54%	-5.32%	1.13%	8.56%	-2.38%	-0.09%
Net Income (Continuing)	-1.88M	251K	-5.52M	-12.8M	-5.89M	-36.04M	7.29M	43.75M	-63.53M	-72.79M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	229K	17.6M	11.16M	20.17M	1.95M	702K
EPS (Diluted)+	-0.21	0.02	-0.31	-0.62	-0.13	-1.47	0.11	0.99	-1.36	-1.42
EPS Growth %	0.91%	1.1%	-16.05%	-1%	0.79%	-10.31%	1.07%	8%	-2.37%	-0.04%
EPS (Basic)	-0.21	0.02	-0.31	-0.62	-0.13	-1.47	0.12	0.99	-1.36	-1.42
Diluted Shares Outstanding	8.85M	12.9M	17.11M	20.6M	23.3M	25.4M	40.84M	45.35M	45.57M	47.77M
Basic Shares Outstanding	8.85M	12.58M	16.78M	20.6M	23.3M	25.4M	38.49M	45.35M	45.56M	47.77M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.94M	3.28M	2.48M	4.96M	42.21M	76.65M	336.16M	527.49M	418.8M	391.8M
Cash & Short-Term Investments	3.84M	3.25M	2.44M	3.66M	27.52M	38.26M	196.55M	232.79M	101.33M	78.65M
Cash Only	2.71M	2.8M	2.12M	3.42M	27.34M	37.89M	196.22M	232.59M	101.14M	78.32M
Short-Term Investments	1.13M	446.2K	319.75K	246K	177K	376K	330K	205K	187K	333K
Accounts Receivable	35.13K	26.93K	0	0	6.61M	15.36M	37.53M	49.51M	61.12M	180.5M
Days Sales Outstanding	9.15	-	-	-	270.13	86.19	62.36	46.49	62.75	275.83
Inventory	0	-26.94K	0	-1.54M	5.79M	22.2M	67.88M	146.5M	106.29M	125.33M
Days Inventory Outstanding	-	-	-	-	283.79	245.12	192.74	228.9	154.9	219.28
Other Current Assets	66.36K	26.94K	0	0	302K	40K	21.08M	94.35M	148.78M	1.32M
Total Non-Current Assets+	8.68M	24.46M	21.47M	30.96M	240.03M	249.62M	350.17M	450.51M	367.81M	370.77M
Property, Plant & Equipment	0	7.69K	3.48K	86K	32.15M	53.47M	86.51M	103.13M	97.47M	105.24M
Fixed Asset Turnover	-	-	-	-	0.28x	1.22x	2.54x	3.77x	3.65x	2.27x
Goodwill	0	0	0	0	167.97M	190.1M	258.07M	284.18M	221.08M	224.59M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	8.68M	24.45M	21.46M	30.88M	39.91M	3.14M	2.56M	42.56M	1.92M	2.15M
Other Non-Current Assets	0	0	-1	0	0	0	1K	0	22.65M	423K
Total Assets+	12.62M	27.73M	23.95M	35.92M	282.23M	326.27M	686.32M	958.01M	786.61M	762.57M
Asset Turnover	0.11x	-	-	-	0.03x	0.20x	0.32x	0.41x	0.45x	0.31x
Asset Growth %	3.78%	1.2%	-0.14%	0.5%	6.86%	0.16%	1.1%	0.4%	-0.18%	-0.03%
Total Current Liabilities+	667.52K	3.67M	3.27M	16.26M	22.63M	29.88M	193.58M	312.72M	225.87M	226.75M
Accounts Payable	206.89K	0	0	227K	4.93M	18.62M	64.47M	126.07M	78.44M	77.54M
Days Payables Outstanding	140.18	-	-	-	241.88	205.6	183.07	196.98	114.31	135.67
Short-Term Debt	0	2.39M	2.94M	12.78M	13.85M	1.82M	72.28M	128.03M	88.19M	69.44M
Deferred Revenue (Current)	148.34K	42.31K	6.95K	0	0	1000K	1000K	1000K	0	0
Other Current Liabilities	109.3K	882.86K	5.18K	2.68M	1.91M	4.11M	39.42M	35.63M	8.16M	37.97M
Current Ratio	5.90x	0.89x	0.76x	0.30x	1.86x	2.57x	1.74x	1.69x	1.85x	1.73x
Quick Ratio	5.90x	0.90x	0.76x	0.40x	1.61x	1.82x	1.39x	1.22x	1.38x	1.18x
Cash Conversion Cycle	-	-	-	-	312.04	125.71	72.03	78.42	103.34	359.45
Total Non-Current Liabilities+	0	0	0	0	3.4M	4.28M	33.55M	123.81M	103.68M	138.15M
Long-Term Debt	0	0	0	0	436K	629K	11.95M	99.68M	82.2M	113.98M
Capital Lease Obligations	0	0	0	0	2.77M	3.5M	21.37M	23.1M	20.64M	23.2M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	194K	155K	223K	1.02M	841K	973K
Total Liabilities	667.52K	3.67M	3.27M	16.26M	26.03M	34.16M	227.13M	436.53M	329.55M	364.9M
Total Debt+	0	2.39M	2.94M	12.78M	17.05M	6.68M	108.91M	255.16M	195.68M	211.4M
Net Debt	-2.71M	-411.59K	813.29K	9.36M	-10.29M	-31.21M	-87.31M	22.57M	94.54M	133.09M
Debt / Equity	-	0.10x	0.14x	0.65x	0.07x	0.02x	0.24x	0.49x	0.43x	0.53x
Debt / EBITDA	-	1.10x	-	-	-	-	3.06x	4.09x	-	-
Net Debt / EBITDA	-	-0.19x	-	-	-	-	-2.45x	0.36x	-	-
Interest Coverage	-	2.93x	-6.23x	-10.35x	-1.73x	-72.73x	5.59x	3.45x	-1.72x	-3.26x
Total Equity+	11.95M	24.07M	20.68M	19.66M	256.2M	292.11M	459.19M	521.48M	457.06M	397.67M
Equity Growth %	16.15%	1.01%	-0.14%	-0.05%	12.03%	0.14%	0.57%	0.14%	-0.12%	-0.13%
Book Value per Share	1.35	1.87	1.21	0.95	11.00	11.50	11.24	11.50	10.03	8.33
Total Shareholders' Equity	11.95M	24.07M	20.68M	19.66M	255.97M	274.51M	448.03M	501.31M	455.11M	396.97M
Common Stock	150.95M	159.88M	146.45M	162.3M	403.4M	452.26M	623.57M	632.02M	643.16M	658.6M
Retained Earnings	-139M	-136.7M	-128.77M	-148.03M	-151.03M	-191.16M	-186.47M	-141.65M	-204M	-277.58M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	892.41K	1.54M	1.79M	2.39M	2.39M	2.39M	2.39M	15.95M	15.95M
Minority Interest	0	0	0	0	229K	17.6M	11.16M	20.17M	1.95M	702K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.69M	-1.17M	-921.03K	-1.49M	-4.01M	7.8M	25.02M	51.27M	-53.63M	-66.93M
Operating CF Margin %	-1.21%	-	-	-	-0.45%	0.12%	0.11%	0.13%	-0.15%	-0.28%
Operating CF Growth %	0.11%	0.31%	0.21%	-0.61%	-1.7%	2.94%	2.21%	1.05%	-2.05%	-0.25%
Net Income	-1.88M	265.42K	-5.26M	-12.8M	-3M	-36.04M	7.29M	43.75M	-63.53M	-72.79M
Depreciation & Amortization	0	0	3.48K	10K	23K	3.25M	7.39M	11.7M	13.17M	15.37M
Stock-Based Compensation	327.91K	26.93K	6.95K	7.83M	64.91M	10.01M	6.45M	8.91M	2.59M	2.28M
Deferred Taxes	0	0	3.06M	682K	-9.04M	37.06M	11.44M	93K	2.25M	-14.53M
Other Non-Cash Items	234.22K	-1.36M	1.32M	1.86M	-56.24M	-2.36M	-5.91M	-10.16M	35.44M	11.94M
Working Capital Changes	-378.65K	-103.86K	-52.13K	930K	-669K	-4.12M	-1.65M	-3.02M	-43.55M	-9.19M
Change in Receivables	265.45K	69K	-13.9K	40K	-899K	-4.47M	8.39M	-18.29M	-23.49M	13.26M
Change in Inventory	460.63K	0	0	0	3.03M	-16.18M	-17.89M	-75.99M	40.21M	-17.44M
Change in Payables	-530.9K	-203.87K	0	228K	-8K	12.27M	2.79M	57.03M	-47.63M	-8.9M
Cash from Investing+	-9.35M	-10.97M	-2.26M	-7.96M	-38.54M	-22.76M	-65.21M	-142.5M	4.77M	17.69M
Capital Expenditures	0	-7.69K	0	-93K	-1K	-20.84M	-14.03M	-19.74M	-2.62M	-4.38M
CapEx % of Revenue	-	-	-	-	0%	0.32%	0.06%	0.05%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	405.98K	-10.4M	-2.37M	-2.62M	-40.81M	-1.64M	-30.84M	-114.44M	11.59M	21.66M
Cash from Financing+	13.22M	12.27M	2.86M	10.61M	66.17M	25.29M	197.94M	120.45M	-82.89M	26.45M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	13.22M	1.1M	0	670K	4.39M	833K	3.38M	-17.28M	-20.91M	-15.29M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-1.69M	-1.18M	-921.03K	-1.58M	-4.01M	-13.04M	10.99M	31.52M	-56.25M	-71.3M
FCF Margin %	-1.21%	-	-	-	-0.45%	-0.2%	0.05%	0.08%	-0.16%	-0.3%
FCF Growth %	0.11%	0.31%	0.22%	-0.71%	-1.54%	-2.25%	1.84%	1.87%	-2.78%	-0.27%
FCF per Share	-0.19	-0.09	-0.05	-0.08	-0.17	-0.51	0.27	0.70	-1.23	-1.49
FCF Conversion (FCF/Net Income)	0.90x	-4.41x	0.18x	0.12x	0.68x	-0.21x	5.33x	1.14x	0.87x	0.99x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-29.69%	1.47%	-23.51%	-63.45%	-4.27%	-13.58%	1.25%	9.14%	-12.66%	-15.86%
Return on Invested Capital (ROIC)	-37.32%	5.49%	-13.23%	-31.54%	-1.86%	-11.37%	6.68%	8.29%	-5.69%	-9.31%
Gross Margin	61.58%	-	-	-	16.57%	49.17%	41.48%	39.9%	29.56%	12.66%
Net Margin	-134.05%	-	-	-	-66.02%	-57.25%	2.14%	11.53%	-17.43%	-28.38%
Debt / Equity	-	0.10x	0.14x	0.65x	0.07x	0.02x	0.24x	0.49x	0.43x	0.53x
Interest Coverage	-	2.93x	-6.23x	-10.35x	-1.73x	-72.73x	5.59x	3.45x	-1.72x	-3.26x
FCF Conversion	0.90x	-4.41x	0.18x	0.12x	0.68x	-0.21x	5.33x	1.14x	0.87x	0.99x
Revenue Growth	-75.2%	-100%	-	-	-	628.6%	237.78%	76.93%	-8.52%	-32.82%

Frequently Asked Questions

Growth & Financials

InterCure Ltd. (INCR) reported $238.8M in revenue for fiscal year 2024. This represents a 1879% increase from $12.1M in 2011.

InterCure Ltd. (INCR) saw revenue decline by 32.8% over the past year.

InterCure Ltd. (INCR) reported a net loss of $67.8M for fiscal year 2024.

Dividend & Returns

InterCure Ltd. (INCR) has a return on equity (ROE) of -15.9%. Negative ROE indicates the company is unprofitable.

InterCure Ltd. (INCR) had negative free cash flow of $71.3M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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InterCure Ltd. (INCR) 10-Year Financial Performance & Capital Metrics

INCR • • Industrial / General

HealthcareSpecialty & Generic PharmaCannabis & Hemp ProductsMedical Cannabis Producers

Revenue $239M -32.8%
EBITDA -$52M -82.5%
Net Income -$68M -9.4%
EPS (Diluted) -1.42 -4.4%
Gross Margin 12.66% -57.2%
EBITDA Margin -21.7% -171.7%
Operating Margin -28.14% -140.7%
Net Margin -28.38% -62.9%
ROE -15.86% -25.3%
ROIC -9.31% -63.7%
Debt/Equity 0.53 +24.2%
Interest Coverage -3.26 -89.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 93.0%
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 1/9
✗Negative free cash flow
✗Weak momentum: RS Rating 8 (bottom 8%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y45.41%

5Y92.97%

3Y2.83%

TTM-32.82%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-9.42%

EPS CAGR

10Y-

5Y-

3Y-

TTM-11.68%

ROCE

10Y Avg-12.26%

5Y Avg-3.38%

3Y Avg-3.42%

Latest-12.26%

Peer Comparison

Medical Cannabis Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
ACBAurora Cannabis Inc.	239.88M	4.24	148.77	27.01%	7.68%	4.54%	0.17
IXHLIncannex Healthcare Limited	132.26M	0.38	-0.28	378.7%	-1671.96%	-466.4%	0.02
TLRYTilray Brands, Inc.	1.13B	9.71	-0.29	4.84%	-252.55%	-136.55%	0.22
IMCCIM Cannabis Corp.	7.08M	1.35	-0.30	10.71%	-8.96%	-109.13%	5.73
AKANAkanda Corp.	190.81K	1.31	-0.33	-61.27%	-12.14%	-8.5%	0.08
INCRInterCure Ltd.	52M	0.95	-0.67	-32.82%	-28.38%	-17.05%	0.53
FLGCFlora Growth Corp.	6.84M	6.54	-5.03	-21.78%	-32.14%	-24.58%	1.09

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.4M	0	0	0	8.93M	65.03M	219.68M	388.68M	355.55M	238.84M
Revenue Growth %	-0.75%	-1%	-	-	-	6.29%	2.38%	0.77%	-0.09%	-0.33%
Cost of Goods Sold+	538.71K	0	0	0	7.45M	33.06M	128.55M	233.6M	250.46M	208.61M
COGS % of Revenue	0.38%	-	-	-	0.83%	0.51%	0.59%	0.6%	0.7%	0.87%
Gross Profit+	862.71K	0	0	0	1.48M	31.98M	91.13M	155.08M	105.09M	30.23M
Gross Margin %	0.62%	-	-	-	0.17%	0.49%	0.41%	0.4%	0.3%	0.13%
Gross Profit Growth %	-0.77%	-1%	-	-	-	20.62%	1.85%	0.7%	-0.32%	-0.71%
Operating Expenses+	3.37M	1.4M	1.12M	9.81M	4.89M	70.38M	62.95M	104.46M	146.66M	97.44M
OpEx % of Revenue	2.41%	-	-	-	0.55%	1.08%	0.29%	0.27%	0.41%	0.41%
Selling, General & Admin	2.19M	1.4M	1.12M	9.81M	81.96M	26.35M	53.46M	97.32M	86.24M	84.63M
SG&A % of Revenue	1.56%	-	-	-	9.18%	0.41%	0.24%	0.25%	0.24%	0.35%
Research & Development	0	0	0	0	1.71M	1.58M	1.24M	632K	388K	414K
R&D % of Revenue	-	-	-	-	0.19%	0.02%	0.01%	0%	0%	0%
Other Operating Expenses	985.81K	369.27K	24.33K	0	-78.77M	42.45M	8.25M	6.51M	60.04M	12.4M
Operating Income+	-2.51M	1.2M	-3.98M	-10.62M	-3.42M	-38.4M	28.19M	50.63M	-41.57M	-67.21M
Operating Margin %	-1.79%	-	-	-	-0.38%	-0.59%	0.13%	0.13%	-0.12%	-0.28%
Operating Income Growth %	0.06%	1.48%	-4.31%	-1.67%	0.68%	-10.24%	1.73%	0.8%	-1.82%	-0.62%
EBITDA+	-2.51M	2.18M	-3.98M	-10.61M	-2.59M	-35.15M	35.58M	62.33M	-28.4M	-51.84M
EBITDA Margin %	-1.79%	-	-	-	-0.29%	-0.54%	0.16%	0.16%	-0.08%	-0.22%
EBITDA Growth %	0.05%	1.87%	-2.82%	-1.67%	0.76%	-12.59%	2.01%	0.75%	-1.46%	-0.83%
D&A (Non-Cash Add-back)	3.9K	979K	4K	10K	828K	3.25M	7.39M	11.7M	13.17M	15.37M
EBIT	-1.88M	-979K	-1.15M	-10.13M	-4.59M	-37.78M	23.78M	58.53M	-37.07M	-66.68M
Net Interest Income+	-207K	0	0	0	-1.83M	-507K	-4.92M	-13.85M	-19.67M	-17.95M
Interest Income	19.52K	0	0	0	141K	21K	130K	844K	4.55M	2.7M
Interest Expense	0	411.59K	639.51K	1.03M	1.97M	528K	5.04M	14.69M	24.22M	20.64M
Other Income/Expense	627.79K	-891K	-1.28M	-2.18M	-3.15M	92K	-9.45M	-6.79M	-19.72M	-20.11M
Pretax Income+	-1.88M	265.42K	-5.26M	-12.8M	-6.57M	-38.31M	18.74M	43.84M	-61.28M	-87.32M
Pretax Margin %	-1.34%	-	-	-	-0.74%	-0.59%	0.09%	0.11%	-0.17%	-0.37%
Income Tax+	0	3.05M	663.84K	0	-673K	-2.27M	11.44M	93K	2.25M	-14.53M
Effective Tax Rate %	1%	1%	1%	1%	0.9%	0.97%	0.25%	1.02%	1.01%	0.78%
Net Income+	-1.88M	265.42K	-5.26M	-12.8M	-5.89M	-37.23M	4.69M	44.82M	-61.96M	-67.8M
Net Margin %	-1.34%	-	-	-	-0.66%	-0.57%	0.02%	0.12%	-0.17%	-0.28%
Net Income Growth %	0.5%	1.14%	-20.81%	-1.43%	0.54%	-5.32%	1.13%	8.56%	-2.38%	-0.09%
Net Income (Continuing)	-1.88M	251K	-5.52M	-12.8M	-5.89M	-36.04M	7.29M	43.75M	-63.53M	-72.79M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	229K	17.6M	11.16M	20.17M	1.95M	702K
EPS (Diluted)+	-0.21	0.02	-0.31	-0.62	-0.13	-1.47	0.11	0.99	-1.36	-1.42
EPS Growth %	0.91%	1.1%	-16.05%	-1%	0.79%	-10.31%	1.07%	8%	-2.37%	-0.04%
EPS (Basic)	-0.21	0.02	-0.31	-0.62	-0.13	-1.47	0.12	0.99	-1.36	-1.42
Diluted Shares Outstanding	8.85M	12.9M	17.11M	20.6M	23.3M	25.4M	40.84M	45.35M	45.57M	47.77M
Basic Shares Outstanding	8.85M	12.58M	16.78M	20.6M	23.3M	25.4M	38.49M	45.35M	45.56M	47.77M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.94M	3.28M	2.48M	4.96M	42.21M	76.65M	336.16M	527.49M	418.8M	391.8M
Cash & Short-Term Investments	3.84M	3.25M	2.44M	3.66M	27.52M	38.26M	196.55M	232.79M	101.33M	78.65M
Cash Only	2.71M	2.8M	2.12M	3.42M	27.34M	37.89M	196.22M	232.59M	101.14M	78.32M
Short-Term Investments	1.13M	446.2K	319.75K	246K	177K	376K	330K	205K	187K	333K
Accounts Receivable	35.13K	26.93K	0	0	6.61M	15.36M	37.53M	49.51M	61.12M	180.5M
Days Sales Outstanding	9.15	-	-	-	270.13	86.19	62.36	46.49	62.75	275.83
Inventory	0	-26.94K	0	-1.54M	5.79M	22.2M	67.88M	146.5M	106.29M	125.33M
Days Inventory Outstanding	-	-	-	-	283.79	245.12	192.74	228.9	154.9	219.28
Other Current Assets	66.36K	26.94K	0	0	302K	40K	21.08M	94.35M	148.78M	1.32M
Total Non-Current Assets+	8.68M	24.46M	21.47M	30.96M	240.03M	249.62M	350.17M	450.51M	367.81M	370.77M
Property, Plant & Equipment	0	7.69K	3.48K	86K	32.15M	53.47M	86.51M	103.13M	97.47M	105.24M
Fixed Asset Turnover	-	-	-	-	0.28x	1.22x	2.54x	3.77x	3.65x	2.27x
Goodwill	0	0	0	0	167.97M	190.1M	258.07M	284.18M	221.08M	224.59M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	8.68M	24.45M	21.46M	30.88M	39.91M	3.14M	2.56M	42.56M	1.92M	2.15M
Other Non-Current Assets	0	0	-1	0	0	0	1K	0	22.65M	423K
Total Assets+	12.62M	27.73M	23.95M	35.92M	282.23M	326.27M	686.32M	958.01M	786.61M	762.57M
Asset Turnover	0.11x	-	-	-	0.03x	0.20x	0.32x	0.41x	0.45x	0.31x
Asset Growth %	3.78%	1.2%	-0.14%	0.5%	6.86%	0.16%	1.1%	0.4%	-0.18%	-0.03%
Total Current Liabilities+	667.52K	3.67M	3.27M	16.26M	22.63M	29.88M	193.58M	312.72M	225.87M	226.75M
Accounts Payable	206.89K	0	0	227K	4.93M	18.62M	64.47M	126.07M	78.44M	77.54M
Days Payables Outstanding	140.18	-	-	-	241.88	205.6	183.07	196.98	114.31	135.67
Short-Term Debt	0	2.39M	2.94M	12.78M	13.85M	1.82M	72.28M	128.03M	88.19M	69.44M
Deferred Revenue (Current)	148.34K	42.31K	6.95K	0	0	1000K	1000K	1000K	0	0
Other Current Liabilities	109.3K	882.86K	5.18K	2.68M	1.91M	4.11M	39.42M	35.63M	8.16M	37.97M
Current Ratio	5.90x	0.89x	0.76x	0.30x	1.86x	2.57x	1.74x	1.69x	1.85x	1.73x
Quick Ratio	5.90x	0.90x	0.76x	0.40x	1.61x	1.82x	1.39x	1.22x	1.38x	1.18x
Cash Conversion Cycle	-	-	-	-	312.04	125.71	72.03	78.42	103.34	359.45
Total Non-Current Liabilities+	0	0	0	0	3.4M	4.28M	33.55M	123.81M	103.68M	138.15M
Long-Term Debt	0	0	0	0	436K	629K	11.95M	99.68M	82.2M	113.98M
Capital Lease Obligations	0	0	0	0	2.77M	3.5M	21.37M	23.1M	20.64M	23.2M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	194K	155K	223K	1.02M	841K	973K
Total Liabilities	667.52K	3.67M	3.27M	16.26M	26.03M	34.16M	227.13M	436.53M	329.55M	364.9M
Total Debt+	0	2.39M	2.94M	12.78M	17.05M	6.68M	108.91M	255.16M	195.68M	211.4M
Net Debt	-2.71M	-411.59K	813.29K	9.36M	-10.29M	-31.21M	-87.31M	22.57M	94.54M	133.09M
Debt / Equity	-	0.10x	0.14x	0.65x	0.07x	0.02x	0.24x	0.49x	0.43x	0.53x
Debt / EBITDA	-	1.10x	-	-	-	-	3.06x	4.09x	-	-
Net Debt / EBITDA	-	-0.19x	-	-	-	-	-2.45x	0.36x	-	-
Interest Coverage	-	2.93x	-6.23x	-10.35x	-1.73x	-72.73x	5.59x	3.45x	-1.72x	-3.26x
Total Equity+	11.95M	24.07M	20.68M	19.66M	256.2M	292.11M	459.19M	521.48M	457.06M	397.67M
Equity Growth %	16.15%	1.01%	-0.14%	-0.05%	12.03%	0.14%	0.57%	0.14%	-0.12%	-0.13%
Book Value per Share	1.35	1.87	1.21	0.95	11.00	11.50	11.24	11.50	10.03	8.33
Total Shareholders' Equity	11.95M	24.07M	20.68M	19.66M	255.97M	274.51M	448.03M	501.31M	455.11M	396.97M
Common Stock	150.95M	159.88M	146.45M	162.3M	403.4M	452.26M	623.57M	632.02M	643.16M	658.6M
Retained Earnings	-139M	-136.7M	-128.77M	-148.03M	-151.03M	-191.16M	-186.47M	-141.65M	-204M	-277.58M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	892.41K	1.54M	1.79M	2.39M	2.39M	2.39M	2.39M	15.95M	15.95M
Minority Interest	0	0	0	0	229K	17.6M	11.16M	20.17M	1.95M	702K

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-1.69M	-1.17M	-921.03K	-1.49M	-4.01M	7.8M	25.02M	51.27M	-53.63M	-66.93M
Operating CF Margin %	-1.21%	-	-	-	-0.45%	0.12%	0.11%	0.13%	-0.15%	-0.28%
Operating CF Growth %	0.11%	0.31%	0.21%	-0.61%	-1.7%	2.94%	2.21%	1.05%	-2.05%	-0.25%
Net Income	-1.88M	265.42K	-5.26M	-12.8M	-3M	-36.04M	7.29M	43.75M	-63.53M	-72.79M
Depreciation & Amortization	0	0	3.48K	10K	23K	3.25M	7.39M	11.7M	13.17M	15.37M
Stock-Based Compensation	327.91K	26.93K	6.95K	7.83M	64.91M	10.01M	6.45M	8.91M	2.59M	2.28M
Deferred Taxes	0	0	3.06M	682K	-9.04M	37.06M	11.44M	93K	2.25M	-14.53M
Other Non-Cash Items	234.22K	-1.36M	1.32M	1.86M	-56.24M	-2.36M	-5.91M	-10.16M	35.44M	11.94M
Working Capital Changes	-378.65K	-103.86K	-52.13K	930K	-669K	-4.12M	-1.65M	-3.02M	-43.55M	-9.19M
Change in Receivables	265.45K	69K	-13.9K	40K	-899K	-4.47M	8.39M	-18.29M	-23.49M	13.26M
Change in Inventory	460.63K	0	0	0	3.03M	-16.18M	-17.89M	-75.99M	40.21M	-17.44M
Change in Payables	-530.9K	-203.87K	0	228K	-8K	12.27M	2.79M	57.03M	-47.63M	-8.9M
Cash from Investing+	-9.35M	-10.97M	-2.26M	-7.96M	-38.54M	-22.76M	-65.21M	-142.5M	4.77M	17.69M
Capital Expenditures	0	-7.69K	0	-93K	-1K	-20.84M	-14.03M	-19.74M	-2.62M	-4.38M
CapEx % of Revenue	-	-	-	-	0%	0.32%	0.06%	0.05%	0.01%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	405.98K	-10.4M	-2.37M	-2.62M	-40.81M	-1.64M	-30.84M	-114.44M	11.59M	21.66M
Cash from Financing+	13.22M	12.27M	2.86M	10.61M	66.17M	25.29M	197.94M	120.45M	-82.89M	26.45M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	13.22M	1.1M	0	670K	4.39M	833K	3.38M	-17.28M	-20.91M	-15.29M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-1.69M	-1.18M	-921.03K	-1.58M	-4.01M	-13.04M	10.99M	31.52M	-56.25M	-71.3M
FCF Margin %	-1.21%	-	-	-	-0.45%	-0.2%	0.05%	0.08%	-0.16%	-0.3%
FCF Growth %	0.11%	0.31%	0.22%	-0.71%	-1.54%	-2.25%	1.84%	1.87%	-2.78%	-0.27%
FCF per Share	-0.19	-0.09	-0.05	-0.08	-0.17	-0.51	0.27	0.70	-1.23	-1.49
FCF Conversion (FCF/Net Income)	0.90x	-4.41x	0.18x	0.12x	0.68x	-0.21x	5.33x	1.14x	0.87x	0.99x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-29.69%	1.47%	-23.51%	-63.45%	-4.27%	-13.58%	1.25%	9.14%	-12.66%	-15.86%
Return on Invested Capital (ROIC)	-37.32%	5.49%	-13.23%	-31.54%	-1.86%	-11.37%	6.68%	8.29%	-5.69%	-9.31%
Gross Margin	61.58%	-	-	-	16.57%	49.17%	41.48%	39.9%	29.56%	12.66%
Net Margin	-134.05%	-	-	-	-66.02%	-57.25%	2.14%	11.53%	-17.43%	-28.38%
Debt / Equity	-	0.10x	0.14x	0.65x	0.07x	0.02x	0.24x	0.49x	0.43x	0.53x
Interest Coverage	-	2.93x	-6.23x	-10.35x	-1.73x	-72.73x	5.59x	3.45x	-1.72x	-3.26x
FCF Conversion	0.90x	-4.41x	0.18x	0.12x	0.68x	-0.21x	5.33x	1.14x	0.87x	0.99x
Revenue Growth	-75.2%	-100%	-	-	-	628.6%	237.78%	76.93%	-8.52%	-32.82%

Frequently Asked Questions

Growth & Financials

InterCure Ltd. (INCR) reported $238.8M in revenue for fiscal year 2024. This represents a 1879% increase from $12.1M in 2011.

InterCure Ltd. (INCR) saw revenue decline by 32.8% over the past year.

InterCure Ltd. (INCR) reported a net loss of $67.8M for fiscal year 2024.

Dividend & Returns

InterCure Ltd. (INCR) has a return on equity (ROE) of -15.9%. Negative ROE indicates the company is unprofitable.

InterCure Ltd. (INCR) had negative free cash flow of $71.3M in fiscal year 2024, likely due to heavy capital investments.