Intercure Ltd.
INCR Nasdaq· Pharmaceutical Preparations
KIRA · Stoqly’s AI analyst, in plain words
- Intercure Ltd. had $78.3M of revenue in fiscal 2025, up 21.3% on the year before. Over five years, revenue changed +32.9% a year on average.
- Its operating margin was −10.1%, up 18.1 pts: of every 100 in sales, about −10 is left after running the business.
- Intercure Ltd. lost $10.3M in fiscal 2025.
- Free cash flow was $3.9M in fiscal 2025, 4.9% of revenue.
- Intercure Ltd. owes $31.8M more than it holds in cash.
Market cap
—
P/E
—
Revenue
$78.3M
Net income
−$10.3M
Free cash flow
$3.9M
Operating margin
−10.1%
Intercure Ltd. in 30 seconds · fiscal 2025
Are sales growing?
+21.3%
Yes. Sales grew 21.3% last year.
Does it make a profit?
−13.2%
No. It lost money last year.
Does profit turn into cash?
4.9%
Partly. 4.9% of sales ends up as free cash.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
What Intercure Ltd. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Apr 30, 2026
- Legal name
- Intercure Ltd.
- CIK
- 0001857030
Intercure Ltd. · INCR
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $68.0M | $116M | $96.4M | $64.5M | $78.3M |
| Revenue growth | 259.9% | 70.0% | −16.6% | −33.0% | 21.3% |
| Gross margin | 41.5% | 39.9% | 29.6% | 12.7% | 12.3% |
| Operating margin | 12.8% | 13.0% | −11.7% | −28.1% | −10.1% |
| Net income | $1.5M | $13.3M | −$16.8M | −$18.3M | −$10.3M |
| Net margin | 2.1% | 11.5% | −17.4% | −28.4% | −13.2% |
| Diluted EPS | $0.03 | $0.29 | −$0.37 | −$0.40 | −$0.19 |
| Cash | |||||
| Cash from operations | $9.3M | $15.3M | −$14.5M | −$18.1M | $4.9M |
| Capital expenditure | $4.3M | $5.9M | $0.7M | $1.2M | $1.0M |
| Free cash flow | $5.0M | $9.4M | −$15.3M | −$19.3M | $3.9M |
| FCF margin | 7.3% | 8.1% | −15.8% | −29.9% | 4.9% |
| Share count change | 51.6% | 17.8% | 0.5% | 0.7% | 17.2% |
| Debt and strength | |||||
| Cash and short-term investments | $63.2M | $66.1M | $27.9M | $21.5M | $14.6M |
| Debt incl. finance leases | $26.6M | $64.5M | $47.0M | $50.2M | $46.4M |
| Shareholders' equity | $144M | $142M | $126M | $109M | $124M |
| Net debt / EBITDA | −3.3x | −0.1x | — | — | — |
| Current ratio | 1.7x | 1.7x | 1.9x | 1.7x | — |
| Returns and quality | |||||
| Return on capital | 5.3% | 10.7% | −6.1% | −10.4% | −4.0% |
| Return on equity | 1.3% | 9.3% | −12.5% | −15.6% | −8.9% |
| Return on tangible equity | 2.5% | 21.6% | −26.0% | −38.8% | −18.6% |
| Piotroski F-score | 5 | 5 | 4 | 1 | 5 |
| Altman Z'' | 2.8 | 2.6 | 1.9 | 0.8 | — |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Intercure Ltd. · INCR
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Source: SEC EDGAR XBRL filings (CIK 0001857030). Data updated October 24, 2026. Filed in ILS under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only — not investment advice. Check the original filings before relying on any figure.