MIND C.T.I. Ltd (MNDO) | Investment Case

1. Company Snapshot

1.a. Company Description

MIND C.T.I. Ltd., together with its subsidiaries, designs, develops, markets, supports, implements, and operates billing and customer care systems in the Americas, Europe, Israel, the Asia Pacific, and Africa.It operates in two segments, Billing and Related Services and Messaging.The company offers billing and customer care solutions that support various services, such as voice, data, and content services, as well as prepaid, postpaid, and pay-in-advance payment models in a single platform.

Its solutions also include a workflow engine to support the implementation of business processes, including subscriber registration, order management, trouble ticket, and debt collection; and an integral point of sale solution that covers all dealer, store and cashier management, and sales cycle related activities.In addition, the company offers professional services comprising turnkey project delivery, customer support and maintenance, integration, customizations, and project management, as well as managed services, including day to day billing operational tasks to its billing and customer care customers.Further, it provides PhonEX ONE, a call management system that collects, records, and stores call information, which is used by organizations for telecom expense management, call accounting, traffic analysis, and fraud detection.

The company offers its products directly, as well as through distributors and resellers primarily to communication service providers, such as traditional wireline and wireless, voice over IP, broadband IP network operators, wireless internet service providers, LTE operators, cable operators, and mobile virtual network operators.MIND C.T.I. Ltd.was incorporated in 1995 and is headquartered in Yokne'am Illit, Israel.

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1.b. Last Insights on MNDO

MIND C.T.I. Ltd.'s recent performance was negatively impacted by a decline in its quarterly results. The company's second-quarter 2025 earnings release revealed a challenging operating environment. Although specific details on the earnings were not disclosed, the timing of the announcement coincided with a potentially weak period for the company. According to some analysts, the company's solutions face intense competition, which may affect its growth prospects. MIND C.T.I. Ltd. was rated as a "Hold" by Zacks Investment Research (Source: Zacks). No information on share buybacks was available.

1.c. Company Highlights

Last Price	1.22
Change Percentage	0.78%
Open	1.21
Previous Close	1.21
Market Cap ( Millions)	25
Volume	7611
Year High	2.13
Year Low	0.98
M A 50	1.12
M A 200	1.42

FCF Yield	11.46%
Dividend Yield	18.03%
ROE	14.03%
Debt / Equity	4.80%
Net Debt / EBIDTA	-47.46%
Price To Book	1.17
Price Earnings Ratio	7.99
Price To FCF	8.72
Price To sales	1.23
EV / EBITDA	6.37

2. Transcript Summary

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3. NewsRoom

MIND CTI Reports Third Quarter 2025 Results

Nov -12

Source: globenewswire.com

MIND CTI Reports Second Quarter 2025 Results

Aug -11

Source: globenewswire.com

MIND CTI Reports First Quarter 2025 Results

May -06

Source: globenewswire.com

MIND CTI Reports Fourth Quarter and Full Year 2024 Results

Mar -04

Source: globenewswire.com

MIND CTI to Acquire Aurenz GmbH

Jan -10

Source: globenewswire.com

MIND CTI Reports Third Quarter 2024 Results

Nov -05

Source: globenewswire.com

MIND CTI Reports Second Quarter 2024 Results

Aug -06

Source: globenewswire.com

MIND CTI Reports First Quarter 2024 Results

May -08

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.20%)

6. Segments

Billing and Related Services

Expected Growth: 10.2%

Growing demand for convergent billing and revenue management solutions in telecom and non-telecom industries, driven by increasing adoption of digital technologies and need for efficient customer management.

Messaging

Expected Growth: 10.2%

The messaging platform market is driven by increasing adoption of digital communication channels, growing demand for personalized customer engagement, and rising need for omnichannel experience. Additionally, advancements in AI and machine learning are expected to enhance messaging capabilities, further fueling market growth.

7. Detailed Products

TIM Explorer

A comprehensive billing and revenue management system designed for telecommunications operators

MINDBill

A convergent billing and customer care system for telecommunications operators

Message Controller

A messaging platform that enables the management of SMS, MMS, and other messaging services

Roaming Management

A system that enables the management of roaming services for telecommunications operators

Data Warehouse and Business Intelligence

A data warehousing and business intelligence solution for telecommunications operators

8. MIND C.T.I. Ltd's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes is low for MIND C.T.I. Ltd because the company's products are highly specialized and there are no close substitutes available in the market.

Bargaining Power Of Customers

The bargaining power of customers is medium for MIND C.T.I. Ltd because the company operates in a niche market with a limited number of customers, giving them some bargaining power.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low for MIND C.T.I. Ltd because the company is not dependent on a single supplier and has multiple options available.

Threat Of New Entrants

The threat of new entrants is high for MIND C.T.I. Ltd because the company operates in a rapidly changing technology industry with low barriers to entry.

Intensity Of Rivalry

The intensity of rivalry is medium for MIND C.T.I. Ltd because the company operates in a competitive market with several established players, but there is still room for differentiation and growth.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	2.55%
Debt Cost	4.50%
Equity Weight	97.45%
Equity Cost	7.88%
WACC	7.79%
Leverage	2.62%

11. Quality Control: MIND C.T.I. Ltd passed 5 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Asseco Business Solutions

A-Score: 6.8/10

Value: 2.1

Growth: 7.1

Quality: 8.2

Yield: 7.5

Momentum: 9.5

Volatility: 6.3

1-Year Total Return ->

Text

A-Score: 6.0/10

Value: 5.4

Growth: 8.3

Quality: 8.4

Yield: 8.1

Momentum: 2.5

Volatility: 3.0

1-Year Total Return ->

Sword

A-Score: 5.9/10

Value: 4.0

Growth: 5.7

Quality: 5.4

Yield: 9.4

Momentum: 4.0

Volatility: 6.7

1-Year Total Return ->

Asseco SEE

A-Score: 5.8/10

Value: 4.1

Growth: 6.7

Quality: 6.9

Yield: 4.4

Momentum: 9.0

Volatility: 4.0

1-Year Total Return ->

Linedata Services

A-Score: 5.6/10

Value: 7.7

Growth: 6.4

Quality: 7.1

Yield: 5.6

Momentum: 0.5

Volatility: 6.3

1-Year Total Return ->

MIND C.T.I.

A-Score: 5.5/10

Value: 7.9

Growth: 1.9

Quality: 8.2

Yield: 10.0

Momentum: 0.0

Volatility: 5.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-7.49%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

7.79%

MIND C.T.I. Ltd - IL0010851827

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on MNDO

1.c. Company Highlights

Higher Yield

Less Volatile

Better Quality

Lower Growth

Weak Momentum

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.20%)

6. Segments

Billing and Related Services

Expected Growth: 10.2%

Messaging

Expected Growth: 10.2%

7. Detailed Products

TIM Explorer

MINDBill

Message Controller

Roaming Management

Data Warehouse and Business Intelligence

8. MIND C.T.I. Ltd's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: MIND C.T.I. Ltd passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.22$

Current Price

1.22$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA