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Tel-Aviv Stock Exchange's Q3 revenue rises due to increased activity 

By Reuters News


Overview

  • Israel stock exchange operator's Q3 revenue rose 19% yr/yr

  • Net profit for Q3 jumped 37% yr/yr

  • Company completed NIS 150 mln share buyback program in Q3


Outlook

  • TASE targets organic revenue CAGR of 15%-18% for 2027-2031

  • Company aims to upgrade technology and expand access to international markets

  • Company is in talks with international entities considering TASE membership


Result Drivers

  • BROAD-BASED REVENUE GROWTH - Q3 revenue rose across all activities, notably from Clearing House services and trading and clearing commissions

  • HIGHER TRADING VOLUMES - Co reported a significant increase in average daily trading volumes in equities in the first nine months of 2026

  • INCREASED MARKET PARTICIPATION - Co cited growth in new securities accounts and higher foreign investor trading share


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

ILS 175.3 mln

ILS 189 mln (1 Analyst)

Q3 Net Income

ILS 68.3 mln

Q3 Adjusted EBITDA

Miss

ILS 105.4 mln

ILS 120 mln (1 Analyst)


Analyst Coverage

  • The one available analyst rating on the shares is "strong buy"

  • The average consensus recommendation for the financial & commodity market operators & service providers peer group is "buy."

  • The stock recently traded at 40 times the next 12-month earnings vs. a P/E of 37 three months ago


Reuters Recommended Reads

  • Nov 9 - Israel's Monday.com Q3 revenue rises 19%

  • Nov 10 - Israel's Wix slightly beats Q3 revenue estimates, maintains 2026 forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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