B.GAON-M

Provides of pipes, valves accessories for water, sewage & gas.

Sector: Metal & Building ProductsMarket cap: NIS 142M
All analyses

Analyses on B.GAON-M (1)

Gaon Holdings in 2025: the margin recovery is real, but cash is still stuck in working capital

Gaon Holdings exited 2025 as a more profitable industrial and infrastructure platform with a cleaner capital structure and a broader operating footprint, but the real test has now shifted from reported earnings to working capital, integration, and the ability to turn operating i…

April 1, 2026
Follow-up dives

Follow-up dives on B.GAON-M (2)

Follow-up

Gaon Holdings: Series D, Series E, and what really remains of covenant headroom

At the end of 2025 Gaon Holdings was far from breaching the covenants on Series D and Series E, but the parent company's practical margin of safety was much tighter: NIS 14.26 million of cash, NIS 21.45 million of current financial liabilities, and a company forecast that ends 2…

April 1, 2026
Follow-up

Gaon Holdings: Why earnings are not yet turning into cash

In 2025 Gaon Holdings improved profit, but not the speed at which profit becomes cash. Heavier working capital, mainly in receivables, accrued income, and inventory, is still setting the real boundary for financing flexibility.

April 1, 2026