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Annual figures as reported in 10-K / 20-F / 40-F filings.
INCR · CIK 0001857030

INTERCURE LTD.

Annual figures as reported, FY2018–FY2024. Ratios and growth rates derived on-page.

INCR logo
Pharmaceutical Preparations
Company profile
Nasdaq · INCRHQ Herzliya, IsraelIncorporated in L3Fiscal year ends Dec 31Non-accelerated filer Emerging growth companyReports in ILS
Revenue
₪238.8M
▼ −32.8% vs FY2023
Net income
−₪72.8M
▼ −14.6% vs FY2023
Free cash flow
−₪71.3M
▼ −26.8% vs FY2023
Diluted EPS
−₪1.48
▼ −8.8% vs FY2023

Revenue

Annual, as reported

0100M200M300M’19’20’21’22’23’24₪238.8M

Net income

Losses shown in terracotta

−50M0’19’20’21’22’23’24−₪72.8M

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

-50%0%’19’20’21’22’23’24
Gross marginOperating marginNet margin

Returns on capital

Net income vs year-end equity and assets

-10%0%’19’20’21’22’23’24
Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

−50M0’19’20’21’22’23’24−₪71.3M

Operating cash flow

Net cash from operations

−50M050M’19’20’21’22’23’24−₪66.9M

Shareholder returns

capital allocation

Diluted shares outstanding

Falling count means buybacks outpace dilution

020M40M’19’20’21’22’23’2446M

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

0200M400M’18’20’22’24₪397.7M

Net debt

Long-term debt less cash — negative means net cash

050M100M’22’23’24₪104.7M

Growth rates

compounding, annualized
Revenue CAGR
+2.8%
3y
+93.0%
5y
Share count change (split-adjusted)
+96.9%
5y

Key ratios

derived per fiscal year
Fiscal yearGross marginOp. marginNet marginFCF marginROEROACurrent ratioDebt / equity
FY202412.7%−28.1%−30.5%−29.9%−18.3%−9.5%1.73×0.46×
FY202329.6%−11.7%−17.9%−15.8%−13.9%−8.1%1.85×0.37×
FY202239.9%13.0%11.3%8.1%8.4%4.6%1.69×0.44×
FY202141.5%12.8%3.3%7.3%1.6%1.0%1.74×—
FY202049.2%−59.0%−55.4%−19.9%−12.3%−11.0%2.57×—
FY201916.6%−38.3%−66.0%−444.9%−2.3%−2.1%——
FY2018————————

Annual figures

as reported
Fiscal yearRevenueGross profitOp. incomeNet incomeDiluted EPSOp. cash flowCapexTotal assetsLiabilitiesEquityCashLT debt
FY2024₪238.8M₪30.2M−₪67.2M−₪72.8M−₪1.48−₪66.9M₪4.4M₪762.6M₪364.9M₪397.7M₪78.3M₪183.0M
FY2023₪355.6M₪105.1M−₪41.6M−₪63.5M−₪1.36−₪53.6M₪2.6M₪786.6M₪329.6M₪457.1M₪101.1M₪170.0M
FY2022₪388.7M₪155.1M₪50.6M₪43.7M₪0.99₪51.3M₪19.7M₪958.0M₪436.5M₪521.5M₪232.6M₪227.0M
FY2021₪219.7M₪91.1M₪28.2M₪7.3M₪0.11₪30.1M₪14.0M₪696.5M₪227.1M₪469.4M₪196.2M—
FY2020₪65.0M₪32.0M−₪38.4M−₪36.0M−₪1.42₪7.9M₪20.8M₪326.3M₪34.2M₪292.1M₪37.9M—
FY2019₪8.9M₪1.5M−₪3.4M−₪5.9M−₪0.25−₪11.6M₪28.1M₪282.2M−₪26.0M₪256.2M₪27.3M—
FY2018—————————₪19.7M₪3.4M—

Latest filings

the most recent regulatory filings
6-KForeign issuer report2026-06-22 ↗6-KForeign issuer report2026-06-15 ↗6-KForeign issuer report2026-05-01 ↗20-FAnnual report (foreign issuer)2026-04-30 ↗3Insider ownership filing2026-04-20 ↗3Insider ownership filing2026-04-20 ↗3Insider ownership filing2026-04-20 ↗3Insider ownership filing2026-04-16 ↗3Insider ownership filing2026-04-16 ↗3Insider ownership filing2026-04-16 ↗

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