Coverage
Analyses on Mekorot (4)
- May 3, 2026
- April 1, 2026April 1, 2026
- Follow-up
Mekorot's Regulatory Asset: Real Cushion or Deferred Pain
Mekorot's regulatory asset is a real accounting cushion, but not a near-cash cushion: it softened the reported 2025 loss while working capital almost disappeared and the company still depended on debt and liquid assets to fund the actual gap.
- Follow-up
Mekorot and the New Regulatory Model: How the NIS 1.367 Billion Impairment Was Built
The NIS 1.367 billion impairment is not a generic accounting clean-up but the direct result of a new regulatory model that lowers the permitted cash flow on the existing asset base, while the future development layer was not included in the booked write-down at all.
Mekorot 2025: Regulation Cracked the Capital Base, but the Water System Still Runs
Mekorot remains a strong and essential operating system, but the new water rules cut the equity base, narrowed the margin of safety and moved the debate from operations to whether the regulatory model can still fund the development plan.
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