Fundamental Analysis Report – Melisron (MLSR)

In-depth Analysis Report – Melisron Ltd. (TASE: MLSR)
 A professional and comprehensive research report on Melisron – Israel’s largest income-generating real estate company in the field of shopping malls, offices and residential development, with a high-quality and diverse portfolio that includes 18 shopping malls and commercial centers under the “Ofer Malls” brand, five high-tech parks and offices, and extensive activity in the field of urban renewal and residential construction through “Aviv Melisron”. The company enjoys a premium asset mix, high occupancy rates, and stable cash flow, and is controlled by Liora Ofer through Ofer Investments.
 The document includes a full analysis of the first quarter results for 2025, with double-digit growth in NOI and FFO, an examination of the performance of the main operating areas – shopping malls, offices and residential – alongside an up-to-date assessment of the capital structure, liquidity and leverage ratios, cash flow and profitability. In addition, a DCF valuation model with a detailed target price forecast is included.
 ✔ Strategic review of growth drivers – leasing of new projects (primarily Landmark Tel Aviv), real increase in rents, residential development in strategic locations
 ✔ Balance sheet analysis and financial strength ratios – current ratio, quick ratio, debt-to-equity ratio, net debt, interest coverage, and return on equity
 ✔ DCF valuation with NOI and FFO forecasts, fair value calculation and target price with upside potential
 ✔ Risk review – macroeconomics, interest rates, retail competition, security situation and consumer impacts
 Suitable for investors interested in exposure to a quality, yielding real estate stock, with return potential, stable cash flow, and value-added development projects.