The strong financial statements for Q1 2026 reveal record results across all TASE's core business lines and operations
TASE's revenues surged by 40% to NIS 183.3 million in the first quarter of 2026
87% growth in adjusted EBITDA to NIS 115.6 million
112% increase in adjusted net profit to NIS 78.1 million
- TASE's revenues in the first quarter of 2026 reached NIS 183.3 million - a 40% increase over Q1 2025.
- Adjusted EBITDA reached NIS 115.6 million in the quarter - 87% increase over Q1 2025.
- Adjusted net profit reached NIS 78.1 million in the quarter - 112% increase over Q1 2025.
- The EBITDA Margin increased to 63.1% in the first quarter, compared to 47.2% in Q1 2025.
- Trading volumes on the equity market soared by 92% over Q1 2025 and came to NIS 5.6 billion.
- 8 new companies completed IPOs on TASE in the first quarter, compared to five new companies in the corresponding quarter last year.
Ittai Ben Zeev, TASE CEO, said today: "First and foremost, the quarter's results highlight the resilience of the Israeli economy and of the public companies operating within it. We continue to work consistently to develop the Israeli capital market, in alignment with the highest international standards, and to achieve the goals of our strategic plan. The successful transition to a Monday-Friday trading week unlocks new opportunities for the local capital market. We highly encourage public companies to capitalize on this success by adopting global investor relations standards, including dual English and Hebrew reporting. Ultimately, this will further deepen foreign investor participation and elevate the Israeli capital market's standing on the global stage."
TEL AVIV, Israel, May 12, 2026 /PRNewswire/ -- The Tel-Aviv Stock Exchange Ltd. (TASE: TASE) today published its financial results for the first quarter ended March 31, 2026. The quarter was characterized by positive returns in TASE indices, despite security tensions and operation "Lion's Roar," which began at the end of February and lasted for close to 40 days. During the quarter, the TA-35 and TA-125 indices posted gains of 12.9% and 9.6%, respectively, compared to the U.S. equity indices during the same period, where the Dow Jones index posted a loss of 3.2% and a decrease of 4.3% in the S&P 500 index. At the end of the quarter, TASE's equity market cap reached NIS 2.3 trillion, compared to NIS 1.4 trillion at the end of Q1 2025.
Trading volumes on TASE soared in the first quarter: the average daily trading volume in the equities market soared to an all-time high of NIS 5.6 billion - 92% growth compared to Q1 2025. For dual-listed equities, the average daily trading volume rose to NIS 1.17 billion - an 81% increase compared to the average for the whole of 2025. Additionally, the transition to a Monday-Friday trading week also led to a significant growth in trading volumes: the average Friday volume in the first quarter stood at NIS 4.4 billion shekels - a 175% boost compared to the average Sunday volume in 2025, which came to NIS 1.6 billion.
During the first quarter, TASE saw purchases of NIS 3.1 billion in local equity index ETFs, as well as NIS 1.8 billion in purchases of local bond index ETFs. In contrast, foreign equity index ETFs recorded sales of NIS 5.3 billion. The value of the public's holdings in foreign ETFs traded on TASE rose to NIS 19.6 billion at the end of the quarter, NIS 4.5 billion more than in Q1 2025.
Eight new companies performed IPOs during the first quarter, raising a total of NIS 1.9 billion, compared to five companies that performed IPOs in Q1 2025 that raised NIS 0.7 billion.
The Ministry of Finance raised NIS 46.6 billion on TASE through government bonds in the first quarter and additionally raised NIS 6 billion dollars on the international markets.
In the corporate bond market, corporate bond issuances totaled NIS 45 billion in the quarter - an increase of 20% compared to Q1 2025.
The Core Activities in Q1 2026
TASE's Tailor Made market making program continued to expand during the first quarter. Eight leading companies are currently participating in the program, including three large banks, Israel's largest telecommunications company, two insurance companies, and two companies of the energy sector. The share of foreign investor activity in these equities is significantly higher than in the rest of the market, standing at 37% compared to 31% for the overall market.
A positive development was also recorded in the derivatives market during the quarter; at the end of March, two new market makers were added, so that a total of three market makers are now operating in derivatives. Within this context, a new futures contract on the TA-125 index was launched, and the monthly trading volume in the contracts has jumped from 7,500 units in December 2024 - the time of the futures launch - to 65,000 units in March 2026.
As TASE has reported to the public, a significant reform in the corporate bond indices is planned, whereby a liquidity criterion will be established as one of the threshold terms for inclusion in the indices. The reform will take effect on July 30, 2026.
Highlights of the results for the first quarter of 2026:
- TASE's revenue in the first quarter totaled NIS 183.3 million - 40% growth compared to the corresponding quarter last year. This growth was driven by all areas of activity, led by Clearing House services (69% increase in revenue) and trading and clearing commissions (44% increase).
- Costs in the first quarter totaled NIS 84 million - 1% decrease compared to the corresponding quarter last year.
- Net financing income in the first quarter climbed to NIS 2 million - 122% increase compared to the corresponding quarter last year, due to an increase in the balance of deposits and a decrease in interest expenses on a loan.
- The net profit in the first quarter totaled NIS 77.4 million - 116% increase compared to the corresponding quarter last year.
- The adjusted EBITDA in the first quarter totaled NIS 115.6 million - 87% increase compared to the corresponding quarter last year. The EBITDA margin in the quarter was 63.1%.
- The adjusted profit in the first quarter totaled NIS 78.1 million - a 112% increase compared to the corresponding quarter last year.
- Equity as of March 31, 2026 totaled NIS 585 million - the reduction in equity since the end of 2025 is due to a dividend paid in the first quarter, less the profit recognized during the period.
Dividend Distribution
- In March 2026, a dividend in a total amount of NIS 144.8 million was paid to the shareholders of TASE - of which NIS 54.3 million was distributed as a special dividend, and the balance was distributed in accordance with the dividend distribution policy adopted by TASE.
Click here for the link to the full financial statements for the first quarter of 2026>
Click here for the link to the financial presentation of the first quarter of 2026>
This notification does not supersede that stated in the periodic financial statements of the Company for the first quarter of 2026, which contain the full and accurate information.
Seasonality
The Company's operations are not characterized by seasonality that materially affects the scope of the Company's activities. During holiday seasons and vacation periods, the Company's revenue may fluctuate due to a reduction in business activity. These fluctuations are primarily driven by daily trading volumes, the number of active trading days and hours, and the specific operating hours in effect during these periods.
In the first quarter of 2026, there were 62 trading days, compared to 64 in the corresponding quarter last year, a 3% decrease. Presented below is information on the quarterly breakdown of trading days:
Year | First | Second | Third | Fourth | Total |
2025 | 64 | 60 | 62 | 60 | 246 |
2026 | 62 | 57 | 61 | 64 | 244 |
The Tel-Aviv Stock Exchange will be happy to assist interested parties in initiating contact with our listed companies. Reach out to us for help connecting with the most relevant executives in these companies:
Tom Alhadif
Head of Market Development
Tel: +972 76 8160485
toma@tase.co.il
Orna Goren
Head of Communication and Public Relations Unit
Tel: +972 76 8160405
tase.ir@tase.co.il
View original content:SOURCE The Tel Aviv Stock Exchange Ltd.
