TASE Reports the Results of the Financial Statements for the Third Quarter of 2026

 

·      TASE’s net profit in the third quarter of 2026 reached NIS 68.3 million, compared to NIS 50 million in the corresponding quarter last year - 37% increase.

 

·    The net profit in the first nine months of 2026 totaled NIS 224.7 million, compared to NIS 129.4 million in the corresponding period last year - 74% increase.

 

·     The adjusted EBITDA in the first nine months of 2026 totaled NIS 335.5 million, compared to NIS 213 million in the corresponding period last year - 58% increase.

 

·       21 new companies completed share IPOs on TASE in the first nine months of 2026, 6 of which in the third quarter, raising a combined NIS 7.8 billion - compared to 17 companies in the corresponding period last year.

 

TASE's equity market cap reached NIS 3.1 trillion at the end of the third quarter of 2026, compared to NIS 1.8 trillion at the end of the corresponding quarter last year, and NIS 2 trillion at the end of 2025.

Ittai Ben Zeev, TASE CEO, said today: “TASE’s financial results reflect the strength and resilience of the Israeli capital market, which continued to show a positive trend and a significant increase in trading activity, despite the security developments and geopolitical tensions Israel continues to face. The solid foundations of the Israeli economy enabled TASE to continue serving as a source of resilience.

The clear trend of growing Israeli public involvement in the capital market continues, with close to 155,000 new securities accounts opened since the beginning of 2026, alongside a significant increase in the foreign investors’ share of trading, which reached 40% at the end of the third quarter. In September, TASE’s Board of Directors approved the new strategic plan for 2027-2031, which focuses on accelerating growth, upgrading technological capabilities and strengthening TASE’s access to international markets, in order to continue generating value for our shareholders and for the Israeli capital market as a whole. It is imperative that we continue to foster an environment that encourages investments and provides long-term certainty".

Tel Aviv, Israel, November 10, 2026 - The Tel-Aviv Stock Exchange Ltd. (TASE: TASE) today published its financial results for the third quarter of 2026, ended on September 30, 2026.

Trends and highlights of the trading activity on TASE in the reported period:

Leading equity indices: In the first nine months of 2026, the TA-35 index increased
by 15.8% and the TA-125 index increased by 11.2%, compared to increases of 7.2% and 12.7% in the U.S. Dow Jones index and S&P 500 index, respectively.

TASE’s equity market cap reached NIS 3.1 trillion at the end of the third quarter, compared to a market cap of NIS 1.8 trillion at the end of the corresponding quarter last year, and compared to NIS 2 trillion at the end of 2025 - an increase of more than 72% year-on-year.

The average daily trading volume in TASE’s equities market in the first nine months of 2026 came to NIS 5.2 billion, compared to NIS 3.4 billion in 2025 - an increase of 52.4%.

Following the switch to Monday to Friday trading on TASE, the average daily trading volume on Fridays amounted to NIS 4 billion. Foreign investors’ share of trading rose to 40% as of the end of the third quarter.

Close to 155 thousand new securities accounts were opened in Israel since the beginning of 2026. The value of the equities held by the public reached NIS 1.4 trillion in August 2026.

On TASE’s IPO market, 21 new companies performed IPOs in the first nine months of 2026, 6 of which in the third quarter, raising a combined NIS 7.8 billion. Five more companies have dual listed on TASE. The total raised on the equities market amounted to NIS 22 billion, compared to NIS 15.2 billion in the corresponding period last year.

On TASE’s bond market, 18 new bond companies raised NIS 9 billion in bond issuances in the first nine months of 2026. Since the beginning of the year, the whole business sector of the corporate bond market raised a total amount of NIS 136 billion, and the Ministry of Finance raised NIS 112 billion in bond issuances.

Strategic moves at TASE and enhancement of the Israeli capital market

New strategic plan with a target of 15%-18% CAGR in revenues.

As part of the strategic moves implemented by The Tel-Aviv Stock Exchange to enhance the Israeli capital market, on September 16, 2026 the Board of Directors of TASE approved a new strategic plan for 2027-2031. The plan focuses on accelerating growth, upgrading technological capabilities, diversifying revenue sources, and strengthening TASE’s access to international markets, and targets an organic CAGR in revenues of 15%-18%.

At the corporate level, on September 28, TASE announced the closing out of a share buyback program, having purchased 1.2 million shares for a total consideration of NIS 150 million.

At the same time, TASE continued to work on enlarging the number of capital market participants and enhancing the liquidity and marketability of TASE-listed securities. During the past quarter, requests for TASE membership were received from two new local TASE members, and discussions are underway with several international entities that are considering becoming TASE members.

In TASE’s Tailor-Made market-making program, three new companies joined the program in the third quarter and key agreements have been renewed, alongside the engagement of new market makers to trade in foreign-currency government bonds. Furthermore, to enhance the services to the public, the TAF (Tel Aviv Funds) system was launched, which displays 12 fund indices in order to facilitate transparent comparison of the funds’ performance.

Highlights of the results for the third quarter of 2026:

Revenue in the third quarter of 2026 totaled NIS 175.3 million, compared to NIS 147.1 million in the corresponding quarter last year - 19% increase. The increase in revenue was due to an increase across all activities, including in revenue from Clearing House services and in revenue from trading and clearing commissions.

Costs in the third quarter of 2026 totaled NIS 87.6 million, compared to NIS 84.5 million in the corresponding quarter last year - 4% increase. The increase in costs was due mainly to the increase in employee benefit expenses and share-based payments expenses.

Net financing income in the third quarter of 2026 totaled NIS 1.7 million, compared to net financing income of NIS 2.6 million in the corresponding quarter last year - 35% decrease. The decrease in financing income was due mainly to a decrease in gains on marketable securities and a reduction in interest income on deposits and was partly offset by a reduction in interest expenses on a loan and an increase in revenue as a result of changes in the NIS-dollar exchange rates.

The tax expense in the third quarter of 2026 totaled NIS 21.2 million, compared to NIS 15.2 million in the corresponding quarter last year - 39% increase. The increase in the tax expense was due mainly to the increase in the pre-tax profit.

The profit in the third quarter of 2026 totaled NIS 68.3 million, compared to NIS 50.0 million in the corresponding quarter last year - 37% increase. The increase in profit was due mainly to the increase in revenue, less the increase in costs and in tax expenses.

The adjusted EBITDA in the third quarter of 2026 totaled NIS 105.4 million, compared to NIS 79.5 million in the corresponding quarter last year - 32% increase. Most of the increase was due to an increase in revenue from services, less the increase in costs.

The adjusted profit in the third quarter of 2026 totaled NIS 70.3 million, compared to NIS 50.7 million in the corresponding quarter last year - 39% increase. Most of the increase was due to an increase in revenue from services, less the increase in costs and in tax expenses.

Highlights of the results for the first nine months of 2026:

Revenue in the first nine months of 2026 totaled NIS 544 million, compared to NIS 414.2 million in the corresponding period last year - 31% increase. The increase in revenue was due to an increase across all activities, most notably an increase in revenue from Clearing House services and in revenue from trading and clearing commissions.

Costs in the first nine months of 2026 totaled NIS 260 million, compared to NIS 250.1 million in the corresponding period last year - 4% increase. The increase in costs was due mainly to the increase in employee benefit expenses, share-based payments expenses and other operating expenses, and was partly offset by a decrease in computer and communication expenses and in general and administrative expenses.

Net financing income in the first nine months of 2026 totaled NIS 7.7 million, compared to NIS 4.7 million in the corresponding period last year - 65% increase. The increase was due mainly to an increase in interest income on deposits, a reduction in interest expenses on a loan, and a decrease in expenses as a result of changes in the exchange rate.

The tax expense in the first nine months of 2026 totaled NIS 67.1 million, compared to NIS 39.5 million in the corresponding period last year - 70% increase. The increase was due mainly to the increase in the pre-tax profit.

The profit in the first nine months of 2026 totaled NIS 224.7 million, compared to NIS 129.4 million in the corresponding period last year - 74% increase. Most of the increase in profit was due to the increase in revenue, less the increase in costs and in tax expense.

The adjusted EBITDA in the first nine months of 2026 totaled NIS 335.5 million, compared to NIS 213 million in the corresponding period last year - 58% increase. Most of the increase was due to an increase in revenue from services, less the increase in costs.

The adjusted profit in the first nine months of 2026 totaled NIS 229.2 million, compared to NIS 132 million in the corresponding period last year - 74% increase. Most of the increase was due to an increase in revenue from services, less the increase in costs and in tax expenses.

Seasonality

The revenue of The Tel-Aviv Stock Exchange from trading and clearing is affected, inter alia, by the number of trading and clearing days. In the third quarter of 2026, there were 61 trading days at TASE, compared to 62 days in the corresponding quarter last year - 2% decrease. In the first nine months of 2026 there were 180 trading days, compared to 186 days in the corresponding period last year- 3% decrease.

Presented below is information on the quarterly breakdown of trading days:

 

 

 

 

 

This notification does not supersede the stated in the periodic financial statements of the Company, which contain the full and accurate information.

Click here for the link to the full financial statements for the third quarter of 2026>

Click here for the link to the financial presentation of the third quarter of 2026>