Foresight Autonomous Holdings (FRSX)

Business description

Foresight Autonomous (FRSX) 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.NIS0m
Last closeNIS
High / Low (52 weeks)NIS / NIS
Stock market listingTel Aviv Stock Exchange, AIM Italia
Forecast net cash (NISm)40.9
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual
Relative *

* % 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)
2015A N/A N/A N/A N/A N/A N/A
2016A 0.0 (9.1) (9.8) (0.14) N/A 0.0
2017E 0.0 (13.0) (16.0) (0.17) N/A 0.0
2018E 0.6 (15.4) (16.6) (0.18) N/A 0.0

Last updated on 27/06/2017

Investment summary

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 effective 100% daytime object detection probability in all-weather/light conditions. If successful, we see good prospects for FRST to gain market share in the vulnerable-user detection market. 32%-owned Rail Vision, a rail collision warning specialist, is achieving positive results in product tests with Deutsche Bahn and others. The company is on track to list on NASDAQ shortly. This, and recent investor roadshows, have increased interest in the shares. We recently increased our stock valuation to NIS3.30 per share.

Last updated on 01/06/2017

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 01/06/2017

Key management

Eli Yoresh, CFO
Ariel Dor, COO

Company address

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