INCR

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Intercure Ltd.

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Key Metrics

Previous Close: $0.93
52-Week Range: $0.68 – $1.71
Market Cap: $51.47M
P/E (TTM): —
EPS (TTM): -0.22
Dividend Yield: —

Advanced Metrics

Price/Book: 0.11
PEG Ratio: —
Return on Equity: -9.27%
Return on Assets: -5.78%
Gross Margin: 15.06%
Operating Margin: 0.00%
Profit Margin: -13.22%
Current Ratio: 1.48
Debt/Equity: 0.46
Total Debt: —
Free Cash Flow: $-37.43M
Revenue Growth: 23.90%
Earnings Growth: —
Enterprise Value: —

INCR Income statement, annual periods, in ILS
ILS	FY2022	FY2023	FY2024	FY2025
Revenue	$388.68M	$355.55M	$238.84M	$270.20M
Cost of Revenue	$233.60M	$250.46M	$208.61M	$237.02M
Gross Profit	$155.08M	$105.09M	$30.23M	$33.18M
Research & Development	$632.00K	$388.00K	$414.00K	$390.00K
Selling, General & Admin	$97.32M	$86.24M	$84.63M	$80.41M
Operating Expenses	$113.88M	$67.50M	$75.29M	$26.45M
Operating Income	$41.20M	$37.59M	-$45.06M	$6.73M
EBITDA	$70.23M	-$23.90M	-$51.31M	-$7.29M
Pretax Income	$43.84M	-$61.28M	-$87.32M	-$44.10M
Income Tax	$93.00K	$2.25M	-$14.53M	-$7.32M
Net Income	$44.82M	-$61.96M	-$67.80M	-$35.71M
Diluted EPS	0.99	-1.36	—	—
Diluted Shares	45.35M	45.57M	45.87M	—

INCR Balance Sheet statement, annual periods, in ILS
ILS	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$232.59M	$101.14M	$78.32M	$46.47M
Receivables	$129.95M	$170.78M	$180.50M	$154.47M
Inventory	$146.50M	$106.29M	$125.33M	$108.06M
Current Assets	$527.49M	$418.80M	$391.80M	$316.75M
Total Assets	$958.01M	$786.61M	$762.57M	$690.55M
Current Liabilities	$312.72M	$225.87M	$226.75M	$214.37M
Long-Term Debt	$99.68M	$82.20M	$113.98M	$59.46M
Total Debt	$255.16M	$195.68M	$211.40M	$183.01M
Total Liabilities	$436.53M	$329.55M	$364.90M	$294.19M
Retained Earnings	-$141.65M	-$204.00M	-$277.58M	-$314.62M
Shareholders' Equity	$501.31M	$455.11M	$396.97M	$396.52M
Working Capital	$214.77M	$192.94M	$165.05M	$102.38M
Net Debt	—	$69.26M	$105.10M	$112.80M

INCR Cash Flow statement, annual periods, in ILS
ILS	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$51.27M	-$53.63M	-$66.93M	$16.84M
Capital Expenditure	-$19.74M	-$2.62M	-$4.38M	-$3.55M
Free Cash Flow	$31.52M	-$56.25M	-$71.30M	$13.29M
Depreciation & Amortisation	$11.70M	$13.17M	$15.37M	$17.15M
Stock-Based Compensation	$8.91M	$2.59M	$2.28M	$2.43M
Investing Cash Flow	-$142.50M	$4.77M	$17.69M	-$1.99M
Financing Cash Flow	$120.45M	-$82.89M	$26.45M	-$46.66M
Dividends Paid	$0.00	$0.00	$0.00	$0.00
Net Change in Cash	$29.22M	-$131.75M	-$22.78M	-$31.81M

INCR Balance Sheet statement, quarterly periods, in ILS
ILS	Q4 2024	Q4 2025
Cash & Equivalents	$78.32M	$46.47M
Receivables	$180.50M	$154.47M
Inventory	$125.33M	$108.06M
Current Assets	$391.80M	$316.75M
Total Assets	$762.57M	$690.55M
Current Liabilities	$226.75M	$214.37M
Long-Term Debt	$113.98M	$59.46M
Total Debt	$211.40M	$183.01M
Total Liabilities	$364.90M	$294.19M
Retained Earnings	-$277.58M	-$314.62M
Shareholders' Equity	$396.97M	$396.52M
Working Capital	$165.05M	$102.38M
Net Debt	$105.10M	$112.80M

Market Snapshot

About

Intercure Ltd. is an Israeli cannabis company focused on producing and distributing medical cannabis products. The company operates through cultivation facilities and distribution networks in Israel, one of the world's leading markets for medical cannabis research and adoption. Intercure produces a range of cannabis-based products including dried flower, oils, and other formulations for therapeutic use. The company also markets lifestyle and wellness products, expanding beyond its core pharmaceutical cannabis business to capture adjacent market opportunities.