Formula Systems (1985) Ltd. (FORTY) 10-Year Financial Performance & Capital Metrics

FORTY • • Industrial / General

TechnologyIT ServicesEnterprise Software & AI PlatformsFinancial Services Software

AboutFormula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, and computer infrastructure and integration solutions worldwide. The company offers computer and telecommunication infrastructure solutions; computer solutions to computer and communications infrastructures; cloud computing solutions; and database and big data services. It also provides customer relations management, computer systems management infrastructures, web world content management, database and data warehouse mining, application integration, database and system, data management, and software development tools; and professional training courses and advanced professional studies. In addition, it markets and sells computers and peripheral equipment to business customers; offers property and casualty insurance platforms, such as Sapiens, Sapiens CoreSuite, Sapiens IDITSuite, Sapiens PolicyPro, Sapiens BillingPro, Sapiens ClaimsPro, e-Tica, and Tia Enterprise; life, pension, and annuities platforms, including Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster; reinsurance software solutions comprising Sapiens ReinsuranceMaster, Sapiens ReinsurancePro, and Sapiens Reinsurance GO; and Sapiens platform for workers' compensation solutions. Further, the company provides financial and compliance solutions that include Sapiens FinancialPro, Sapiens Financial GO, and Sapiens StatementPro; Sapiens DECISION, a decision management platform; and technology-based solutions. Additionally, it offers application development and business process integration platforms; vertical software solutions; strategic consulting and outsourcing services; and professional services in various areas, as well as develops on-premise payroll software. Formula Systems (1985) Ltd. was incorporated in 1985 and is headquartered in Or Yehuda, Israel.Show more

Revenue $2.76B +5.2%
EBITDA $386M +6.9%
Net Income $80M +24.5%
EPS (Diluted) 5.09 +23.5%
Gross Margin 24.81% +1.0%
EBITDA Margin 14% +1.6%
Operating Margin 9.81% +7.4%
Net Margin 2.89% +18.3%
ROE 5.91% +14.7%
ROIC 13.1% +7.0%
Debt/Equity 0.50 -3.1%
Interest Coverage 12.22 +95.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 83 (top 17%)
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 10.1%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.79%

5Y10.14%

3Y4.66%

TTM6.65%

Profit (Net Income) CAGR

10Y0.6%

5Y-2.97%

3Y13.43%

TTM-4.75%

EPS CAGR

10Y-0.19%

5Y-3.36%

3Y13.3%

TTM-13.07%

ROCE

10Y Avg10.12%

5Y Avg13.16%

3Y Avg14.41%

Latest14.62%

Peer Comparison

Financial Services Software

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FORTYFormula Systems (1985) Ltd.	2.61B	170.01	33.40	5.21%	2.49%	4.55%	11.34%	0.50
JKHYJack Henry & Associates, Inc.	13.84B	191.25	30.65	7.21%	19.86%	22.11%	4.25%
VYXNCR Voyix Corporation	1.5B	10.82	-2.67	-11.08%	-1.77%	-4.18%		1.12
CLPSCLPS Incorporation	25.85M	0.87	-9.40	-5.02%	-1.27%	-6.06%	26.34%	0.41
WAYWaystar Holding Corp.	5.79B	30.27	-232.85	19.28%	10.69%	3.45%	2.46%	0.41

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	798.8M	1.11B	1.36B	1.49B	1.7B	1.93B	2.41B	2.57B	2.62B	2.76B
Revenue Growth %	0.26%	0.39%	0.22%	0.1%	0.14%	0.14%	0.24%	0.07%	0.02%	0.05%
Cost of Goods Sold+	630.15M	849.84M	1.06B	1.16B	1.32B	1.49B	1.84B	1.95B	1.98B	2.07B
COGS % of Revenue	0.79%	0.77%	0.78%	0.78%	0.77%	0.77%	0.77%	0.76%	0.75%	0.75%
Gross Profit+	168.65M	258.78M	296.82M	333.31M	386.05M	447.43M	563.86M	622.47M	643.71M	684.03M
Gross Margin %	0.21%	0.23%	0.22%	0.22%	0.23%	0.23%	0.23%	0.24%	0.25%	0.25%
Gross Profit Growth %	0.59%	0.53%	0.15%	0.12%	0.16%	0.16%	0.26%	0.1%	0.03%	0.06%
Operating Expenses+	114.14M	170.28M	223.15M	223.69M	247.56M	276.79M	355.84M	345.82M	404.34M	414.16M
OpEx % of Revenue	0.14%	0.15%	0.16%	0.15%	0.15%	0.14%	0.15%	0.13%	0.15%	0.15%
Selling, General & Admin	103.9M	147.95M	183.61M	182.47M	200.87M	224.19M	289.99M	317.96M	326.38M	335.15M
SG&A % of Revenue	0.13%	0.13%	0.14%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%
Research & Development	10.23M	22.33M	39.85M	41.22M	46.69M	52.6M	65.86M	72.13M	77.97M	83.73M
R&D % of Revenue	0.01%	0.02%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
Other Operating Expenses	0	0	-308K	0	0	0	1K	-44.26M	0	-4.72M
Operating Income+	54.51M	88.5M	73.67M	109.62M	51.56M	170.64M	208.02M	276.64M	239.37M	270.52M
Operating Margin %	0.07%	0.08%	0.05%	0.07%	0.03%	0.09%	0.09%	0.11%	0.09%	0.1%
Operating Income Growth %	0.56%	0.62%	-0.17%	0.49%	-0.53%	2.31%	0.22%	0.33%	-0.13%	0.13%
EBITDA+	72.08M	120.87M	117.32M	158.35M	138.49M	266.15M	330.2M	391.95M	361.2M	386.02M
EBITDA Margin %	0.09%	0.11%	0.09%	0.11%	0.08%	0.14%	0.14%	0.15%	0.14%	0.14%
EBITDA Growth %	0.64%	0.68%	-0.03%	0.35%	-0.13%	0.92%	0.24%	0.19%	-0.08%	0.07%
D&A (Non-Cash Add-back)	17.56M	32.37M	43.65M	48.73M	86.93M	95.51M	122.18M	115.31M	121.83M	115.5M
EBIT	75.87M	84.93M	62.22M	113.7M	138.49M	170.64M	210.47M	281.65M	249.4M	270.52M
Net Interest Income+	-2.37M	-8.98M	-20.35M	-7.18M	-17.59M	-23.15M	-23.8M	-19.12M	-24.57M	-22.14M
Interest Income	0	6.01M	8.75M	7.56M	3.79M	2.56M	2.65M	5.82M	13.8M	0
Interest Expense	2.37M	14.99M	29.11M	14.74M	21.38M	25.71M	26.45M	24.94M	38.37M	22.14M
Other Income/Expense	-9.53M	-11.59M	-20M	-8.29M	-18.65M	-25.35M	-23.5M	-21.74M	-27.56M	-20.07M
Pretax Income+	46.66M	76.91M	50.81M	101.36M	119.84M	145.29M	184.52M	254.9M	211.81M	250.46M
Pretax Margin %	0.06%	0.07%	0.04%	0.07%	0.07%	0.08%	0.08%	0.1%	0.08%	0.09%
Income Tax+	11.87M	21.16M	13.37M	24.34M	27.2M	31.27M	42.61M	55.23M	46.08M	56.66M
Effective Tax Rate %	0.41%	0.29%	0.22%	0.32%	0.77%	0.32%	0.3%	0.32%	0.3%	0.32%
Net Income+	19.32M	22.45M	11.18M	32.2M	92.64M	46.78M	54.59M	81.39M	64.01M	79.67M
Net Margin %	0.02%	0.02%	0.01%	0.02%	0.05%	0.02%	0.02%	0.03%	0.02%	0.03%
Net Income Growth %	-0.74%	0.16%	-0.5%	1.88%	1.88%	-0.5%	0.17%	0.49%	-0.21%	0.24%
Net Income (Continuing)	50.35M	56.1M	39.44M	77.39M	0	114.02M	141.9M	199.67M	165.73M	193.79M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	275.02M	387.45M	413.73M	437.77M	474.69M	604.77M	638.83M	625.17M	682.42M	710.01M
EPS (Diluted)+	1.31	1.49	0.74	2.07	6.04	3.01	3.50	5.21	4.12	5.09
EPS Growth %	-0.75%	0.14%	-0.5%	1.8%	1.92%	-0.5%	0.16%	0.49%	-0.21%	0.24%
EPS (Basic)	1.38	1.58	0.78	2.13	6.10	3.05	3.57	5.31	4.17	5.21
Diluted Shares Outstanding	14.74M	15.53M	14.72M	15.57M	15.34M	15.29M	15.4M	15.5M	15.5M	15.64M
Basic Shares Outstanding	14.07M	14.21M	14.36M	15.1M	15.19M	15.29M	15.29M	15.3M	15.3M	15.3M
Dividend Payout Ratio	0.67%	0.45%	1.08%	0.16%	0.14%	0.32%	0.4%	0.27%	0.16%	0.24%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	454.57M	634.01M	694.51M	780.95M	965.78M	1.16B	1.3B	1.37B	1.38B	1.49B
Cash & Short-Term Investments	206.75M	275.69M	260.82M	295.63M	405.53M	533.15M	512.46M	569.06M	528.17M	563.2M
Cash Only	186.95M	238.16M	245.94M	268.84M	369.04M	501.63M	485.39M	544.34M	451.95M	507.8M
Short-Term Investments	19.8M	37.53M	14.88M	26.79M	36.49M	31.53M	27.07M	24.71M	76.22M	55.4M
Accounts Receivable	280.56M	328.98M	404.08M	456.51M	513.04M	556.15M	719.57M	725.07M	721.01M	838.23M
Days Sales Outstanding	128.2	108.31	108.84	111.61	110.08	104.96	109.18	102.88	100.41	110.95
Inventory	4.61M	3.95M	3.3M	3.88M	7.16M	23.99M	21.22M	35.18M	42.01M	30.73M
Days Inventory Outstanding	2.67	1.7	1.14	1.22	1.99	5.89	4.21	6.59	7.75	5.41
Other Current Assets	24.19M	23.04M	18.31M	15.3M	2.66M	453K	-889K	1.49M	43.99M	6.36M
Total Non-Current Assets+	763.47M	724.66M	866.51M	883.51M	1.12B	1.36B	1.45B	1.42B	1.44B	1.53B
Property, Plant & Equipment	19.8M	26.13M	29.57M	29.18M	147.19M	173.97M	172.72M	172.31M	173.58M	208.17M
Fixed Asset Turnover	40.33x	42.43x	45.82x	51.16x	11.56x	11.12x	13.93x	14.93x	15.10x	13.25x
Goodwill	162.17M	497.78M	617.27M	640.86M	724.19M	872.42M	932.85M	926.16M	936.58M	975.08M
Intangible Assets	4.92M	129.82M	163.98M	150.05M	165.28M	222.26M	241.94M	222.73M	206.93M	217.08M
Long-Term Investments	203.23M	41.31M	25.26M	25.65M	26.35M	28.48M	28.9M	20.64M	45.23M	65.11M
Other Non-Current Assets	70.6M	14.39M	16.64M	22.77M	21.49M	22.7M	23.68M	39.75M	27.57M	28.99M
Total Assets+	1.22B	1.36B	1.56B	1.66B	2.09B	2.52B	2.75B	2.79B	2.81B	3.01B
Asset Turnover	0.66x	0.82x	0.87x	0.90x	0.81x	0.77x	0.88x	0.92x	0.93x	0.91x
Asset Growth %	0.09%	0.12%	0.15%	0.07%	0.25%	0.21%	0.09%	0.02%	0.01%	0.07%
Total Current Liabilities+	255.75M	359.51M	409.99M	525.99M	671.29M	779.8M	944.69M	1B	985.66M	1.14B
Accounts Payable	68.05M	80.11M	95.34M	118.79M	125.16M	153.32M	205.84M	222.48M	258.65M	292.07M
Days Payables Outstanding	39.42	34.41	32.88	37.39	34.74	37.65	40.79	41.65	47.75	51.41
Short-Term Debt	59.3M	88.03M	75.64M	127M	156.66M	161.9M	224.15M	226.18M	218.86M	275.58M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	33M	58.91M	91.35M	111.05M	118.25M	113.37M	124.84M	89.5M	86.04M	119.47M
Current Ratio	1.78x	1.76x	1.69x	1.48x	1.44x	1.49x	1.38x	1.37x	1.40x	1.30x
Quick Ratio	1.76x	1.75x	1.69x	1.48x	1.43x	1.46x	1.35x	1.33x	1.35x	1.28x
Cash Conversion Cycle	91.45	75.6	77.09	75.44	77.33	73.21	72.59	67.82	60.42	64.95
Total Non-Current Liabilities+	290.99M	275.31M	378.1M	333.34M	520.8M	632.72M	623.2M	614.82M	518.75M	485.56M
Long-Term Debt	160.76M	170.97M	269.36M	254.43M	337.47M	383.39M	362.26M	421.51M	322.43M	249.04M
Capital Lease Obligations	494K	108K	0	0	73.69M	91.19M	84.84M	78.97M	84.64M	119.59M
Deferred Tax Liabilities	29.18M	30.94M	36.24M	35.2M	50.93M	68.37M	78.14M	58.99M	59.21M	42.89M
Other Non-Current Liabilities	102.67M	64.84M	42.47M	39.47M	50.03M	72.07M	78.19M	47.25M	47.61M	61.52M
Total Liabilities	546.74M	634.82M	788.1M	859.33M	1.19B	1.41B	1.57B	1.62B	1.5B	1.63B
Total Debt+	220.41M	258.66M	344.97M	381.43M	603.49M	668.54M	712.91M	772.67M	669.99M	689.45M
Net Debt	33.46M	20.5M	99.03M	112.59M	234.45M	166.91M	227.52M	228.33M	218.04M	181.65M
Debt / Equity	0.33x	0.36x	0.45x	0.47x	0.67x	0.60x	0.60x	0.66x	0.51x	0.50x
Debt / EBITDA	3.06x	2.14x	2.94x	2.41x	4.36x	2.51x	2.16x	1.97x	1.85x	1.79x
Net Debt / EBITDA	0.46x	0.17x	0.84x	0.71x	1.69x	0.63x	0.69x	0.58x	0.60x	0.47x
Interest Coverage	22.97x	5.90x	2.53x	7.43x	2.41x	6.64x	7.86x	11.09x	6.24x	12.22x
Total Equity+	671.29M	723.85M	772.92M	805.14M	896.33M	1.11B	1.18B	1.18B	1.31B	1.39B
Equity Growth %	0.03%	0.08%	0.07%	0.04%	0.11%	0.24%	0.07%	-0%	0.11%	0.06%
Book Value per Share	45.53	46.62	52.51	51.70	58.43	72.42	76.59	75.92	84.41	88.85
Total Shareholders' Equity	396.28M	336.39M	359.19M	367.37M	421.64M	502.73M	540.96M	551.87M	625.76M	679.34M
Common Stock	4.18M	4.18M	4.19M	4.19M	4.34M	4.34M	4.34M	4.35M	4.35M	4.35M
Retained Earnings	318.69M	234.27M	239.53M	262.56M	285.15M	324.36M	358.31M	419.45M	475.22M	536.01M
Treasury Stock	-259K	-259K	-259K	-259K	-259K	-259K	-259K	-259K	-259K	-259K
Accumulated OCI	-1.58M	-2.38M	18.08M	3.13M	11.68M	25.51M	25.52M	-17.03M	-11.03M	-13.42M
Minority Interest	275.02M	387.45M	413.73M	437.77M	474.69M	604.77M	638.83M	625.17M	682.42M	710.01M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	54.4M	74.95M	80.98M	82.59M	196.08M	286.94M	208.48M	239.14M	294.97M	324.45M
Operating CF Margin %	0.07%	0.07%	0.06%	0.06%	0.12%	0.15%	0.09%	0.09%	0.11%	0.12%
Operating CF Growth %	2.26%	0.38%	0.08%	0.02%	1.37%	0.46%	-0.27%	0.15%	0.23%	0.1%
Net Income	92.45M	56.1M	39.44M	77.39M	94.42M	114.02M	141.9M	199.67M	165.73M	193.79M
Depreciation & Amortization	17.56M	32.37M	43.65M	48.73M	86.93M	95.51M	122.18M	115.31M	121.83M	115.5M
Stock-Based Compensation	5.07M	4.39M	4.55M	3.98M	3.87M	7.78M	14.77M	14.95M	18.62M	16.16M
Deferred Taxes	-991K	211K	-12.82M	-5.74M	-13.16M	-6.35M	-8M	-18.14M	-8.34M	-12.41M
Other Non-Cash Items	-64.75M	141K	13.7M	-4.66M	2.4M	4.81M	6.68M	-51.33M	-3.51M	-9.64M
Working Capital Changes	5.06M	-18.26M	-7.54M	-37.12M	21.6M	71.18M	-69.06M	-21.32M	640K	21.05M
Change in Receivables	-12.6M	-30.09M	-38.22M	-66.07M	16.27M	32.05M	-130.31M	-48.77M	6.56M	-82.73M
Change in Inventory	-2.37M	923K	1.04M	-1.02M	-938K	-10.97M	4.64M	-13.76M	-3.38M	11.72M
Change in Payables	9.36M	5.42M	6.09M	19.95M	-18.01M	10.95M	40.08M	25.33M	18.72M	40.03M
Cash from Investing+	-58.45M	-78.81M	-102.54M	-90.45M	-108.22M	-177.03M	-110.19M	-74.3M	-139.24M	-78.18M
Capital Expenditures	-9.82M	-19.3M	-18.91M	-20.63M	-36.59M	-28.81M	-31.06M	-39.31M	-16.68M	-16.44M
CapEx % of Revenue	0.01%	0.02%	0.01%	0.01%	0.02%	0.01%	0.01%	0.02%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-41.8M	4.47M	1.1M	-25.47M	-13.03M	11.94M	18.65M	-5.7M	-72.67M	12.69M
Cash from Financing+	35.84M	-7.05M	16.42M	40.97M	6.01M	9.73M	-114.13M	-70.98M	-243.18M	-184.96M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12.89M	-10.01M	-12.08M	-5.01M	-12.97M	-14.94M	-22.08M	-21.78M	-9.93M	-18.81M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-32.26M	-27.81M	-27.99M	-35.03M	4.96M	-96.61M	-112.17M	-115.82M	-85.73M	-77.57M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	44.58M	55.66M	62.07M	61.96M	159.5M	258.13M	177.42M	199.82M	262.97M	295.49M
FCF Margin %	0.06%	0.05%	0.05%	0.04%	0.09%	0.13%	0.07%	0.08%	0.1%	0.11%
FCF Growth %	2.74%	0.25%	0.12%	-0%	1.57%	0.62%	-0.31%	0.13%	0.32%	0.12%
FCF per Share	3.02	3.58	4.22	3.98	10.40	16.88	11.52	12.89	16.97	18.90
FCF Conversion (FCF/Net Income)	2.82x	3.34x	7.24x	2.56x	2.12x	6.13x	3.82x	2.94x	4.61x	4.07x
Interest Paid	6.16M	6.77M	6.45M	9.06M	15.73M	16.57M	15.34M	17.57M	26.14M	25.85M
Taxes Paid	23.01M	19.18M	19.68M	23.3M	39.06M	44.66M	38.39M	51.26M	76.69M	63.08M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.93%	3.22%	1.49%	4.08%	10.89%	4.67%	4.77%	6.91%	5.15%	5.91%
Return on Invested Capital (ROIC)	5.86%	9.16%	6.84%	9.19%	3.78%	10.64%	11.64%	14.75%	12.25%	13.1%
Gross Margin	21.11%	23.34%	21.9%	22.33%	22.69%	23.14%	23.44%	24.2%	24.56%	24.81%
Net Margin	2.42%	2.02%	0.83%	2.16%	5.45%	2.42%	2.27%	3.16%	2.44%	2.89%
Debt / Equity	0.33x	0.36x	0.45x	0.47x	0.67x	0.60x	0.60x	0.66x	0.51x	0.50x
Interest Coverage	22.97x	5.90x	2.53x	7.43x	2.41x	6.64x	7.86x	11.09x	6.24x	12.22x
FCF Conversion	2.82x	3.34x	7.24x	2.56x	2.12x	6.13x	3.82x	2.94x	4.61x	4.07x
Revenue Growth	25.51%	38.79%	22.24%	10.17%	13.94%	13.69%	24.39%	6.94%	1.89%	5.21%

Revenue by Segment

	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024
Other Member	-	-	-	-	-	-	-	267.77M	157.19M	170.42M
Other Member Growth	-	-	-	-	-	-	-	-	-41.30%	8.42%
Adjustments Member	-	-	-	-	-	-	-	-167.58M	-7.74M	-10.25M
Adjustments Member Growth	-	-	-	-	-	-	-	-	95.38%	-32.39%
Software services	-	-	-	-	-	-	1.77B	-	-	-
Software services Growth	-	-	-	-	-	-	-	-	-	-
Proprietary software products and related services	-	-	-	-	-	-	632.99M	-	-	-
Proprietary software products and related services Growth	-	-	-	-	-	-	-	-	-	-
MatrixMember	-	-	-	-	-	1.12B	-	-	-	-
MatrixMember Growth	-	-	-	-	-	-	-	-	-	-
SapiensMember	-	-	-	-	-	382.9M	-	-	-	-
SapiensMember Growth	-	-	-	-	-	-	-	-	-	-
MagicSoftwareMember	-	-	-	-	-	371.19M	-	-	-	-
MagicSoftwareMember Growth	-	-	-	-	-	-	-	-	-	-
OtherMember	-	-	-	-	-	144.47M	-	-	-	-
OtherMember Growth	-	-	-	-	-	-	-	-	-	-
AdjustmentsMember	-	-	-	-	-	-8.48M	-	-	-	-
AdjustmentsMember Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2014	2015	2017	2018	2019	2020	2021	2022	2023	2024
ISRAEL	-	-	-	-	-	-	-	-	1.6B	1.75B
ISRAEL Growth	-	-	-	-	-	-	-	-	-	9.02%
UNITED STATES	-	-	-	-	-	-	-	-	644.92M	612.2M
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-5.07%
Europe	14.58M	63.35M	-	-	-	-	-	-	315.08M	336.29M
Europe Growth	-	334.60%	-	-	-	-	-	-	-	6.73%
Africa	-	-	-	-	-	-	-	-	26.04M	26.93M
Africa Growth	-	-	-	-	-	-	-	-	-	3.46%
ZIMBABWE	-	-	-	-	-	-	-	-	22.23M	23.29M
ZIMBABWE Growth	-	-	-	-	-	-	-	-	-	4.77%
JAPAN	-	-	-	-	-	-	-	-	11.88M	13.68M
JAPAN Growth	-	-	-	-	-	-	-	-	-	15.12%
Israel Country Member	-	-	-	-	-	-	-	1.57B	-	-
Israel Country Member Growth	-	-	-	-	-	-	-	-	-	-
America Member	-	-	-	-	-	-	-	680.33M	-	-
America Member Growth	-	-	-	-	-	-	-	-	-	-
European Member	-	-	-	-	-	-	-	262.3M	-	-
European Member Growth	-	-	-	-	-	-	-	-	-	-
Africaian Member	-	-	-	-	-	-	-	26.69M	-	-
Africaian Member Growth	-	-	-	-	-	-	-	-	-	-
Other Mainly Asia Pacific Member	-	-	-	-	-	-	-	20.67M	-	-
Other Mainly Asia Pacific Member Growth	-	-	-	-	-	-	-	-	-	-
Japan Country Member	-	-	-	-	-	-	-	11.33M	-	-
Japan Country Member Growth	-	-	-	-	-	-	-	-	-	-
IsraelCountryMember	-	-	-	-	-	1.2B	1.51B	-	-	-
IsraelCountryMember Growth	-	-	-	-	-	-	25.22%	-	-	-
AmericaMember	-	-	-	-	-	501.79M	591.79M	-	-	-
AmericaMember Growth	-	-	-	-	-	-	17.94%	-	-	-
EuropeanMember	-	-	-	-	-	189.15M	255.68M	-	-	-
EuropeanMember Growth	-	-	-	-	-	-	35.17%	-	-	-
OtherMainlyAsiaPacificMember	-	-	-	-	-	13.89M	19.43M	-	-	-
OtherMainlyAsiaPacificMember Growth	-	-	-	-	-	-	39.93%	-	-	-
AfricaianMember	-	-	-	-	-	11.7M	18.01M	-	-	-
AfricaianMember Growth	-	-	-	-	-	-	53.92%	-	-	-
JapanCountryMember	-	-	-	-	-	14.28M	12.89M	-	-	-
JapanCountryMember Growth	-	-	-	-	-	-	-9.75%	-	-	-
European	-	-	131.03M	141.32M	145.56M	-	-	-	-	-
European Growth	-	-	-	7.85%	3.01%	-	-	-	-	-
Africaian	-	-	24.37M	13.73M	15.34M	-	-	-	-	-
Africaian Growth	-	-	-	-43.68%	11.73%	-	-	-	-	-
Other (mainly Asia pacific)	-	-	-	-	15.22M	-	-	-	-	-
Other (mainly Asia pacific) Growth	-	-	-	-	-	-	-	-	-	-
Israel	531.19M	527.63M	846.3M	893.61M	-	-	-	-	-	-
Israel Growth	-	-0.67%	60.40%	5.59%	-	-	-	-	-	-
United States	87.27M	144.49M	322.89M	418.15M	-	-	-	-	-	-
United States Growth	-	65.57%	123.47%	29.50%	-	-	-	-	-	-
Others	-	-	14.79M	109.04M	-	-	-	-	-	-
Others Growth	-	-	-	637.21%	-	-	-	-	-	-
Japan	-	-	15.76M	11.05M	-	-	-	-	-	-
Japan Growth	-	-	-	-29.88%	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Formula Systems (1985) Ltd. (FORTY) has a price-to-earnings (P/E) ratio of 33.4x. This suggests investors expect higher future growth.

Growth & Financials

Formula Systems (1985) Ltd. (FORTY) reported $2.89B in revenue for fiscal year 2024. This represents a 351% increase from $640.6M in 2011.

Formula Systems (1985) Ltd. (FORTY) grew revenue by 5.2% over the past year. This is steady growth.

Yes, Formula Systems (1985) Ltd. (FORTY) is profitable, generating $71.8M in net income for fiscal year 2024 (2.9% net margin).

Dividend & Returns

Yes, Formula Systems (1985) Ltd. (FORTY) pays a dividend with a yield of 0.71%. This makes it attractive for income-focused investors.

Formula Systems (1985) Ltd. (FORTY) has a return on equity (ROE) of 5.9%. This is below average, suggesting room for improvement.

Formula Systems (1985) Ltd. (FORTY) generated $295.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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