Foresight Autonomous Holdings (FRST)

Business description

Foresight Autonomous (FRST) is a development stage technology company in Israel developing ADAS systems based on technology developed by its parent company and the Israeli military. FRST also has a stake in rail ADAS specialist Rail Vision.

Stock data

Market cap.NIS242.6m
Last closeNIS3.32
High / Low (52 weeks)NIS3.6 / NIS1.7
Stock market listingTel Aviv Stock Exchange, AIM Italia
Forecast net cash (NISm)13.3
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual59.293.462.8
Relative *62.995.965.6

* % Relative to local index

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Y/E Dec Revenue (NISm) EBITDA (NISm) PBT (NISm) EPS (NIS) P/E (x) P/CF (x)
2014A N/A N/A N/A N/A N/A N/A
2015A N/A N/A N/A N/A N/A N/A
2016E 0.0 (8.5) (9.6) (0.1) N/A N/A
2017E 0.0 (13.1) (16.6) (0.2) N/A N/A

Last updated on 14/12/2016

Investment summary

Foresight Autonomous (FRST) is developing software solutions for advanced driver assistance (ADAS) and fully autonomous (FA) driving applications using stereo camera vision algorithms developed over a decade with the Israeli military. The company aims to reach 100% daytime object detection probability in all-weather/light conditions. If able to achieve these aims we expect FRST to gain market share in the vulnerable user detection market. 32%-owned Rail Vision, a rail collision warning specialist is achieving success in product tests with Deutsche Bahn and other operators, which may lead to significant contract gains over the next 12-18 months. Our DCF model indicates a value of NIS3.11 per share.

Last updated on 02/03/2017

Industry outlook

ADAS is one of the fastest growing markets in the auto industry. ABI Research forecasts total spending in the ADAS market to grow at a 29% CAGR over the next decade, with sales of vulnerable user (cyclists/pedestrians) detection systems, which are principally reliant on forward camera systems, forecast to achieve a 49% CAGR during this period. From 2020, the growth of FA vehicle production should further boost forward camera demand.

Last updated on 02/03/2017

Key management

Eli Yoresh, CFO
Ariel Dor, COO

Company address

3 Golda Meir
Nes-Tziona,
Israel
+972 (0)77 9709030
View website