Hiron 2025: Real Estate Profit Looks Strong, but Cash Is Nearly Gone
Hiron posted high profitability in 2025, but the core story is appraisal-led real estate rather than materially stronger NOI, alongside very tight liquidity.
March 30, 2026
Hiron
Invests in real-etate & imports wood.
Sector: Investment-Properties In IsraelMarket cap: NIS 1.3B
All analyses
Analyses on Hiron (1)
Follow-up dives
Follow-up dives on Hiron (2)
Follow-up
Hiron: Paper Profit Versus an Almost Empty Cash Box
Hiron does not look overlevered, but its financing flexibility is far narrower than the 2025 profit suggests. NIS 50.2 million of operating cash after tax and interest was almost fully absorbed by investment, dividends, and a reduction in short-term credit, leaving only NIS 42 t…
March 30, 2026
Follow-up
Hiron: How Much Equity Survives a Cap-Rate Move
Hiron's equity survives a routine 50 basis-point cap-rate move, but it is more appraisal-sensitive than a quick read suggests because the investment-property fair value is already fully embedded in book equity.
March 30, 2026
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