Invests in oil & gas exploration and real-estate companies.
Equital enters 2026 as a holding company with rising reported profit, but its real economics still lean heavily on Tamar, while the value available at the top depends on how much cash can actually move up from the subsidiaries.
Tamar still sits at the center of Equital’s valuation: the year-end 2025 valuation work puts the net investment balance in the project at ILS 3.4569 billion, almost three quarters of the company’s market cap, but with only a thin cushion versus book value and clear sensitivity t…
In 2025 Equital shows strong liquidity at the group level, but at the parent-company level almost no operating cash was generated and the cash that came up from subsidiaries was not enough to cover debt service. That makes the holdco discount look primarily structural for now.
