Maris-Tech Ltd. (MTEK) | Investment Case

1. Company Snapshot

1.a. Company Description

Maris-Tech Ltd.designs and manufactures digital video and audio hardware and software solutions for the military and IoT markets worldwide.The company offers intelligent video surveillance solutions, communication technology products, modular video encoding/decoding platform, ultra-low latency streaming solutions, dual channel low power encoder systems, multi channel encoding streaming and recording platform, miniature recording and streaming platforms, and video encoding and decoding platform.

Its products are used in drone, robotic, defense, homeland security, HLS, intelligence gathering, autonomous vehicle, and space markets and applications.Maris-Tech Ltd.was incorporated in 2008 and is based in Rehovot, Israel.

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1.b. Last Insights on MTEK

Maris-Tech Ltd.'s recent performance was driven by several positive factors. The company reported a 51% revenue growth for 2024, with gross profit increasing by 82% and net loss reduced by 54%. Additionally, Maris-Tech secured a $4 million line of credit from a leading Israeli commercial bank, providing flexibility to take advantage of strategic opportunities. The company also successfully completed a pilot manufacturing project in the U.S., demonstrating compliance with international manufacturing standards and strengthening its position in the American defense market. Furthermore, Maris-Tech expanded its European reach with a new distribution agreement in Poland and entered into a distribution agreement with Thrikasa Technologies to expand its presence in India.

1.c. Company Highlights

Last Price	1.5
Change Percentage	2.74%
Open	1.46
Previous Close	1.46
Market Cap ( Millions)	12
Volume	96585
Year High	6.47
Year Low	1.03
M A 50	1.71
M A 200	2.4

FCF Yield	-21.37%
Dividend Yield	0.00%
ROE	-80.50%
Debt / Equity	73.66%
Net Debt / EBIDTA	5.16%
Price To Book	3.4
Price Earnings Ratio	-3.18
Price To FCF	-4.68
Price To sales	3.54
EV / EBITDA	-3.3

2. Transcript Summary

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3. NewsRoom

Maris-Tech (NASDAQ:MTEK) Trading Down 7.5% – Time to Sell?

Nov -29

Source: defenseworld.net

Maris-Tech Ltd. Secures $2 Million Financing to Strengthen its Capital Structure and Support Commercial and U.S. Market Initiatives

Nov -28

Source: globenewswire.com

Maris-Tech Introduces Garnet: A Compact, Low-Power Video and AI Payload for Miniature Drones

Nov -17

Source: globenewswire.com

Maris-Tech Receives Repeat Opal System Order from a Leading Israeli Defense Company

Nov -14

Source: globenewswire.com

Maris-Tech Enters Quantum Navigation Field with Strategic Agreement to Develop Quantum-Based Gyroscope to Replace GPS Navigation

Nov -13

Source: globenewswire.com

Maris-Tech Announces Strategic Collaboration Agreement with Quantum Gyro to Develop Quantum Based Gyroscope to Replace GPS Navigation

Nov -10

Source: globenewswire.com

Maris-Tech and FlightOps Announce Joint Edge-AI and Video Payload Platform for Autonomous Drone Operations

Nov -05

Source: globenewswire.com

Maris-Tech Appoints Hananya Malka as Chief Technology Officer

Oct -27

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

High-end Digital Video and Audio Products

Expected Growth: 10.2%

Growing demand for high-quality video and audio equipment in professional broadcasting and production, driven by increasing adoption of 4K and 8K resolutions, and advancements in virtual and augmented reality technologies.

Non Recurring Engineering & Proof of Concept Contracts and Related Services

Expected Growth: 12.5%

Growing demand for customized engineering services, increasing adoption of IoT and AI technologies, and rising need for product testing and validation drive the growth of NRE and POC contracts from Maris-Tech Ltd.

7. Detailed Products

AiRadar

AiRadar is a cutting-edge, AI-powered radar system designed for advanced driver-assistance systems (ADAS) and autonomous vehicles.

BriteVision

BriteVision is a high-performance, low-power consumption image signal processor (ISP) designed for automotive and surveillance applications.

DeepLearning

DeepLearning is a suite of AI-powered software development kits (SDKs) for computer vision and machine learning applications.

EyeScanner

EyeScanner is a high-resolution, high-speed camera system designed for eye-tracking and gaze-tracking applications.

SmartSensor

SmartSensor is a family of advanced sensors designed for industrial automation, IoT, and smart city applications.

8. Maris-Tech Ltd.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Maris-Tech Ltd. is medium due to the availability of alternative technologies and products in the market.

Bargaining Power Of Customers

The bargaining power of customers for Maris-Tech Ltd. is high due to the concentration of buyers and the availability of alternative products.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Maris-Tech Ltd. is low due to the availability of multiple suppliers and the company's strong bargaining power.

Threat Of New Entrants

The threat of new entrants for Maris-Tech Ltd. is medium due to the moderate barriers to entry and the availability of resources.

Intensity Of Rivalry

The intensity of rivalry for Maris-Tech Ltd. is high due to the high level of competition and the presence of several established players in the market.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	14.99%
Debt Cost	3.95%
Equity Weight	85.01%
Equity Cost	10.46%
WACC	9.48%
Leverage	17.64%

11. Quality Control: Maris-Tech Ltd. passed 4 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

Nokia

A-Score: 5.7/10

Value: 4.5

Growth: 8.8

Quality: 6.3

Yield: 3.1

Momentum: 9.0

Volatility: 2.3

1-Year Total Return ->

Hanza

A-Score: 4.6/10

Value: 3.5

Growth: 7.1

Quality: 3.9

Yield: 1.9

Momentum: 9.5

Volatility: 1.7

1-Year Total Return ->

Detection Technology

A-Score: 4.6/10

Value: 5.4

Growth: 6.1

Quality: 6.7

Yield: 5.0

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

Jenoptik

A-Score: 4.0/10

Value: 6.2

Growth: 6.2

Quality: 4.8

Yield: 2.5

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

Maris-Tech

A-Score: 3.1/10

Value: 6.8

Growth: 4.0

Quality: 3.7

Yield: 0.0

Momentum: 4.0

Volatility: 0.0

1-Year Total Return ->

Nynomic

A-Score: 2.7/10

Value: 7.3

Growth: 2.9

Quality: 3.2

Yield: 0.0

Momentum: 0.5

Volatility: 2.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

19.50%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

9.48%

Maris-Tech Ltd. - IL0011789042

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on MTEK

1.c. Company Highlights

Strong Momentum

Cheaper

Medium Volatility

Average Growth

More Volatile

Lower Growth

Fairly Valued

Stable Momentum

Average Quality

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

High-end Digital Video and Audio Products

Expected Growth: 10.2%

Non Recurring Engineering & Proof of Concept Contracts and Related Services

Expected Growth: 12.5%

7. Detailed Products

AiRadar

BriteVision

DeepLearning

EyeScanner

SmartSensor

8. Maris-Tech 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: Maris-Tech Ltd. passed 4 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

1.5$

Current Price

1.5$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA