IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
© 2026 Blank Capital Research. All rights reserved. System Version: Aegis V8 (God Mode).
Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#3996
Positioning
Market Dominance
Manufacturing
Medical Equipment
$50M
Eyal Shamir
IceCure Medical Ltd engages in the research, development, and commercialization of medical devices for cryoablation (freezing) of tumors in the human body. The company was incorporated in 2006 and is headquartered in Caesarea, Israel.
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | 28.5% | 8.0% | 100.0% | 100.0% | 10.4% | -4.6% | 3.3% | 0.0x | $141.8B | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | 46.1% | 16.6% | 51.3% | 31.9% | 26.8% | -4.0% | 1.0% | 25.0x | $272.1B | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | 10.3% | 3.1% | 24.1% | 7.2% | 4.7% | 14.3% | 0.8% | 25.0x | $11.4B | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | 2.2% | 1.5% | 9.3% | 5.3% | 2.2% | -8.5% | 2.2% | 16.0x | $18.9B | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 35.5% | 19.8% | 48.7% | 29.2% | 24.7% | 4.4% | 0.8% | 32.0x | $181.9B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | 11.8% | 8.8% | 45.9% | 11.3% | 11.1% | 25.7% | 3.7% | 0.0x | $1.8B | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.6% | 7.0% | 66.5% | 17.1% | 15.6% | 39.0% | 0.0% | 0.0x | $115M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | 22.6% | 4.9% | 71.2% | 12.8% | 9.4% | 1.7% | 5.9% | 124.0x | $72.1B | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | 3.0% | 1.1% | 20.9% | 7.3% | 1.3% | 3.0% | 0.9% | 67.0x | $1.2B | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | 8.2% | 3.5% | 55.3% | 25.9% | 12.4% | 0.7% | 1.7% | 0.0x | $87.0B | VS | |
$ICCM IceCure Medical Ltd. | 36 | 46 | 11 | 14 | 1.9x | - | -887.9% | -487.2% | 44.1% | -476.9% | -465.4% | 1.9% | 0.0% | 0.0x | $50M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -2.5% | -0.1% | 42.5% | 1.3% | -0.2% | 5.9% | 0.0% | 0.2x | - | REF |
IceCure Medical Ltd. (ICCM) receives a "Avoid" rating with a composite score of 36.1/100. It ranks #3996 out of 7,333 stocks in our coverage universe and carries a 1-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
Sign in to join the discussion.
YOY expansion rate
Core pricing power
Operating efficiency
Bottom-line conversion
Equity capital efficiency
Asset base utilization
Financial leverage load
Direct cash return
Eyal Shamir
Chief Executive Officer
Labor Force
60
46
36
56
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for ICCM
Lagging peers — losers tend to keep underperforming
Expensive relative to fundamentals — limited margin of safety
Average quality profile
Average volatility — neutral timing signal
Moderate investment profile
Below-average composite — caution warranted
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for ICCM.
View All RatingsMaterial decline in asset turnover efficiency detected
High margin volatility — erratic forensic earnings quality
ROE proxy -887.9% (sector -2.5%)
GM 44% vs sector 43%, OM -477% vs sector 1%
Capital turnover N/A, R&D intensity 215.6%
Rev growth 2%, 4yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
Our quantitative model flags IceCure Medical Ltd. with an Avoid rating, assigning a composite score of 36.1/100 and 1 out of 5 stars. Ranked #3996 of 7,333 stocks, ICCM falls in the bottom tier across key factors. Historically, stocks with this profile have faced elevated risk of underperformance and capital loss.
With a quality score of 46/100, ICCM shows adequate but unremarkable business quality. The company reports a return on equity of -887.9% (sector avg: -2.5%), gross margins of 44.1% (sector avg: 42.5%), net margins of -465.4% (sector avg: -0.2%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
ICCM registers a value score of just 11/100, suggesting the stock trades at a significant premium to its fundamental metrics. Key valuation metrics include a P/E ratio of 1.91x, a P/B ratio of 5.70x. High-premium valuations like this require strong future execution to avoid multiple compression, and downside risk is elevated if growth disappoints.
IceCure Medical Ltd.'s investment score of 36/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 1.9% vs. a sector average of 5.9% and a return on assets of -487.2% (sector: -0.1%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
IceCure Medical Ltd. is experiencing notably weak momentum with a score of just 14/100. The stock has underperformed its peers and is trending below major moving averages. Revenue growth stands at 1.9% year-over-year, while a beta of 0.80 reflects its sensitivity to broader market moves. While deep momentum weakness can occasionally present value opportunities, it often reflects deteriorating fundamentals or structural headwinds that may persist.
With a stability score of 56/100, ICCM exhibits average financial resilience. Key stability metrics include a beta of 0.80 and a debt-to-equity ratio of 0.00x (sector avg: 0.2x). While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
ICCM carries a short interest score of 70/100, indicating moderate short selling activity. This is a neutral reading — not enough to signal systemic bearishness, but worth monitoring. Specific risk factors include micro-cap liquidity risk. At $50M market cap (micro-cap), IceCure Medical Ltd. offers reasonable institutional liquidity.
IceCure Medical Ltd. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #3996 of 7,333 overall (46th percentile). Key comparisons include ROE of -887.9% trailing the -2.5% sector median and operating margins of -476.9% below the 1.3% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While ICCM currently exhibits a AVOID profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Manufacturing Alpha →Quant Factor Profile
Upgrade catalyst
Improvement in Value (11) would have the largest impact on the composite score.
ROE 35701% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin IN LINE WITH SECTOR BENCHMARKS
Op. Margin 37072% BELOW SECTOR MEDIAN
AUDIT DATA AS OF DEC 31, 2024 (Q3 FY2024)
We rate IceCure Medical Ltd. (ICCM) as Avoid with a composite score of 36.1/100 at a current price of $0.59. The stock falls in the bottom quintile of our universe across key quantitative factors, and the multi-factor weakness suggests a high probability of continued underperformance.
The rating is primarily driven by strength in stability (56th percentile) and quality (46th percentile), which together account for the majority of the composite score. Offsetting weakness in value (11th percentile) and momentum (14th percentile) tempers our overall conviction. We assign a No Moat rating (33/100), Medium uncertainty, and Poor capital allocation.
Key items to watch: momentum to confirm whether the current price trend has legs; the path to profitability; valuation compression risk if growth disappoints. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is narrowing, which raises the risk of a future downgrade if the trend persists.
IceCure Medical Ltd. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 36.1/100 places it at rank #3996 in our full 7,333-stock universe. At $50M in market capitalization, IceCure Medical Ltd. is a small-cap player in the Manufacturing space, which limits certain scale advantages but may allow for more agile strategic execution.
Revenue is growing at 2%, though momentum at the 14th percentile suggests the market has not yet fully recognized this trajectory. This potential disconnect between fundamental improvement and market recognition could represent an opportunity for patient investors if the growth trend persists.
The margin cascade tells an important story: gross margins of 44% (+1.6pp vs sector) narrow to operating margins of -477% (-478.2pp vs sector) and net margins of -465.4%, yielding a gross-to-net conversion rate of -1056%. The significant margin erosion from gross to net suggests elevated operating expenses, high interest costs, or other structural drags that warrant monitoring.
At a current price of $0.59, IceCure Medical Ltd. is trading at a premium to fundamental value. Our value factor score of 11/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
The stock currently trades at a P/E of 1.9x (a 91% discount to the sector median of 22.3x), P/B of 5.7x, P/S of 3.0x. The below-sector P/E suggests possible undervaluation or the market pricing in near-term headwinds.
Gross margins of 44% signal strong pricing power and brand/IP advantages — businesses with margins above 40% have historically demonstrated more resilient earnings through economic cycles.
A conservative balance sheet (0% D/E) provides financial flexibility for acquisitions, buybacks, or weathering economic downturns without dilution.
The Avoid rating (composite 36.1/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Thin net margins of -465.4% provide limited cushion against cost pressures, competitive pricing, or macroeconomic headwinds — even small changes in costs could swing the company to a loss.
Weak momentum (14th percentile) suggests institutional selling pressure and unfavorable technical dynamics that may persist.
We assign a Medium uncertainty rating to IceCure Medical Ltd.. The stock presents a balanced risk profile: current negative profitability (net margin -465.4%). While not risk-free, the core business fundamentals are adequate to withstand moderate economic stress, and the range of potential outcomes around our fair value estimate is manageable.
Specific risk factors that inform our assessment include: current negative profitability (net margin -465.4%). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 56th percentile and quality factor at the 46th percentile provide a quantitative summary of the overall risk landscape.
Key risk mitigants include: healthy gross margins of 44% provide a buffer against cost pressures; conservative leverage (0% D/E) limits balance sheet risk. These factors partially offset the identified risks and provide downside protection in adverse scenarios. On balance, the risk-reward profile is favorable for long-term investors.
We rate IceCure Medical Ltd.'s capital allocation as Poor. Key concerns include low returns on equity (-887.9%), negative profitability, weak asset returns (ROA -487.2%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — IceCure Medical Ltd. significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, IceCure Medical Ltd. receives a Avoid rating with a composite score of 36.1/100 (rank #3996 of 7,333). Our quantitative framework assigns a No Moat (33/100, trend: narrowing), Medium uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 32/100.
Our analysis does not support a constructive view on IceCure Medical Ltd. at this time. The combination of limited competitive advantages, medium uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign IceCure Medical Ltd. a meaningful economic moat, scoring 33/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 9.1/20.
The strongest moat sources are margin superiority (9.1/20) and reinvestment efficiency (9.1/20). GM 44% vs sector 43%, OM -477% vs sector 1%. Capital turnover N/A, R&D intensity 215.6%. These pillars form the core of IceCure Medical Ltd.'s competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include economic value creation (0.7/20) and growth durability (6.6/20). ROE proxy -887.9% (sector -2.5%). Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Narrowing. ROIC has declined at ~228.4pp per year, and operating margins show fundamental deterioration. Investors should monitor these indicators closely — a sustained narrowing trend often precedes material downgrades in our moat assessment.
Key profit drivers include gross margins of 44% providing a solid profitability foundation. The margin cascade from 44% gross to -477% operating to -465.4% net reveals the company's cost structure and reinvestment intensity. Our analysis indicates that profit quality is adequate though not exceptional, with the quality factor at the 46th percentile.
The margin profile shows gross margins of 44%, operating margins of -477%, net margins of -465.4%. Return metrics include ROE of -887.9% and ROA of -487.2%. Relative to the Manufacturing sector, gross margins are 1.6 percentage points above the sector median of 43%, and ROE of -887.9% compares to a sector median of -2.5%.
The balance sheet reflects a conservatively managed balance sheet with D/E of 0%, revenue growth of 2%. The sector median D/E is 0%, putting IceCure Medical Ltd. in a relatively stronger balance sheet position. Overall balance sheet health is adequate for the current business environment.
Above 50MA
37.18%
Net New Highs
+51081
IceCure Medical Ltd. (Nasdaq: ICCM) ("IceCure," "IceCure Medical" or the "Company"), developer of minimally-invasive cryoablation technology that destroys tumors by freezing as an option to surgical tumor removal, today announced the completion of its last patients' five-year follow up evaluation in its ICESECRET clinical trial of ProSense® for the treatment of small renal masses ("SRMs") in kidney cancer patients.
IceCure Medical Ltd. (NASDAQ: ICCM) ("IceCure", "IceCure Medical" or the "Company"), a developer of minimally-invasive cryoablation technology that destroys tumors by freezing as an option to surgical tumor removal, today announced Thomas Hospital of Fairhope, Alabama, part of the Infirmary Health network of hospitals, purchased and installed the ProSense® system, becoming the first facility in Alabama to offer breast cancer cryoablation. Dr. Katelin Holmes, a board-certified breast surgeon, Med
IceCure Medical (NASDAQ: ICCM) announced that CFO Ronen Tsimerman will depart after nine years of service to pursue new opportunities. Tsimerman will remain in his role until a successor is appointed. The company has identified candidates for the position and some have advanced to board interviews. During his tenure, Tsimerman helped achieve key milestones including the company's Nasdaq listing, fundraising for the ICE3 study, and FDA marketing clearance of ProSense® for low-risk breast cancer treatment in late 2025.
IceCure Medical announced that the American Society of Breast Surgeons (ASBrS) has proposed updated treatment guidelines that include cryoablation for low-risk breast cancer in patients aged 70 and above. The proposed guidelines, pending finalization after a January 23, 2026 comment period, align with the FDA's October 2025 marketing authorization for IceCure's ProSense® cryoablation system. The company expects the guidelines to accelerate physician adoption, patient access, and reimbursement coverage for its minimally invasive breast cancer treatment technology.
IceCure Medical expects record fourth quarter sales in North America following FDA clearance of ProSense® Cryoablation for low-risk breast cancer treatment, with strong interest from medical institutions and growing market demand.