Formula Systems (1985) Ltd.(FORTY)Earnings, Financials & Key Ratios
FORTY•NASDAQ
62.7× P/E·Price updated Jun 19, 2026
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$2.65B-4.0%
- EBITDA$342M-11.3%
- Net Income$28M-64.4%
- EPS (Diluted)1.80-64.6%
- Gross Margin17.05%-31.3%
- EBITDA Margin12.93%-7.6%
- Operating Margin7.12%-27.4%
- Net Margin1.07%-62.9%
- ROE1.78%-69.8%
FORTY Key Insights
Formula Systems (1985) Ltd. (FORTY) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Trading at only 1.0x book value
✗Weaknesses
- ✗Weak 3Y average ROE of 4.3%
- ✗Dividend payout exceeds 100% of earnings
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Get notified when FORTY posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
FORTY Price & Volume
Formula Systems (1985) Ltd. (FORTY) stock price & volume — 10-year historical chart
Loading chart...
FORTY Growth Metrics
Formula Systems (1985) Ltd. (FORTY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years12.73%
5 Years6.49%
3 Years0.97%
TTM1.11%
Profit CAGR
10 Years3.93%
5 Years-9.51%
3 Years-29.61%
TTM665.97%
EPS CAGR
10 Years3.23%
5 Years-9.77%
3 Years-29.83%
TTM649.71%
Return on Capital
10 Years10.44%
5 Years12.81%
3 Years12.31%
Last Year9.09%
FORTY Recent Earnings
Formula Systems (1985) Ltd. (FORTY) EPS & revenue vs analyst estimates — last 4 quarters
Q2 2026Latest
May 28, 2026Metric
Actual
Est
EPS
$2.25
—
Rev
$736M
—
Q2 2026
May 20, 2026Metric
Actual
Est
EPS
$2.33
—
Rev
$738M
—
Q2 2026
Mar 26, 2026Metric
Actual
Est
EPS
$0.27
—
Rev
$713M
—
Q4 2025
Nov 20, 2025Metric
Actual
Est
EPS
$0.73
—
Rev
$697M
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 28, 2026 | $2.25 | $736M |
| Q2 2026 | May 20, 2026 | $2.33 | $738M |
| Q2 2026 | Mar 26, 2026 | $0.27 | $713M |
| Q4 2025 | Nov 20, 2025 | $0.73 | $697M |
Based on last 12 quarters of dataView full earnings history →
FORTY Peer Comparison
Formula Systems (1985) Ltd. (FORTY) competitors in Vertical Software and Industry Platforms — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 NICE | 5.13B | 84.68 | 8.76 | 7.68% | 17.58% | 13.98% | 0.04 | |
 CHKP | 12.75B | 122.33 | 12.72 | 6.25% | 38.37% | 36.43% | 0.68 | |
 MNDY | 3.69B | 71.53 | 31.93 | 26.75% | 9.17% | 10.69% | 0.25 | |
 WIX | 2.34B | 42.49 | 48.28 | 13.2% | -1.97% | |||
 CTSH | 20.71B | 43.70 | 9.60 | 6.95% | 10.41% | 14.79% | 0.10 | |
 EPAM | 4B | 76.64 | 11.40 | 15.42% | 6.96% | 10.66% | 0.04 | |
 GLOB | 1.33B | 30.74 | 13.42 | 1.62% | 4.46% | 4.97% | 0.22 | |
 INFY | 42.87B | 10.57 | 13.91 | 3.85% | 16.16% | 29.59% | 0.09 |
Compare FORTY vs Peers
Formula Systems (1985) Ltd. (FORTY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
FORTY Income Statement
Formula Systems (1985) Ltd. (FORTY) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 1.36B | 1.49B | 1.7B | 1.93B | 2.41B | 2.57B | 2.62B | 2.76B | 2.65B |
Revenue Growth % | 22.24% | 10.17% | 13.94% | 13.69% | 24.39% | 6.94% | 1.89% | 5.21% | -3.97% |
Cost of Goods Sold | 1.06B | 1.16B | 1.32B | 1.49B | 1.84B | 1.95B | 1.98B | 2.07B | 2.2B |
COGS % of Revenue | 78.1% | 77.67% | 77.31% | 76.86% | 76.56% | 75.8% | 75.44% | 75.19% | 82.95% |
Gross Profit | 296.82M▲ 0% | 333.31M▲ 12.3% | 386.05M▲ 15.8% | 447.43M▲ 15.9% | 563.86M▲ 26.0% | 622.47M▲ 10.4% | 643.71M▲ 3.4% | 684.03M▲ 6.3% | 451.39M▼ 34.0% |
Gross Margin % | 21.9% | 22.33% | 22.69% | 23.14% | 23.44% | 24.2% | 24.56% | 24.81% | 17.05% |
Gross Profit Growth % | 14.7% | 12.29% | 15.82% | 15.9% | 26.02% | 10.39% | 3.41% | 6.26% | -34.01% |
Operating Expenses | 223.15M | 223.69M | 247.56M | 276.79M | 355.84M | 345.82M | 404.34M | 414.16M | 262.75M |
OpEx % of Revenue | 16.47% | 14.98% | 14.55% | 14.31% | 14.79% | 13.44% | 15.43% | 15.02% | 9.92% |
Selling, General & Admin | 183.61M | 182.47M | 200.87M | 224.19M | 289.99M | 317.96M | 326.38M | 335.15M | 209.08M |
SG&A % of Revenue | 13.55% | 12.22% | 11.81% | 11.59% | 12.05% | 12.36% | 12.45% | 12.15% | 7.9% |
Research & Development | 39.85M | 41.22M | 46.69M | 52.6M | 65.86M | 72.13M | 77.97M | 83.73M | 20.18M |
R&D % of Revenue | 2.94% | 2.76% | 2.74% | 2.72% | 2.74% | 2.8% | 2.97% | 3.04% | 0.76% |
Other Operating Expenses | -308K | 0 | 0 | 0 | 1K | -44.26M | 0 | -4.72M | 33.49M |
Operating Income | 73.67M▲ 0% | 109.62M▲ 48.8% | 51.56M▼ 53.0% | 170.64M▲ 231.0% | 208.02M▲ 21.9% | 276.64M▲ 33.0% | 239.37M▼ 13.5% | 270.52M▲ 13.0% | 188.64M▼ 30.3% |
Operating Margin % | 5.44% | 7.34% | 3.03% | 8.82% | 8.65% | 10.75% | 9.13% | 9.81% | 7.12% |
Operating Income Growth % | -16.76% | 48.79% | -52.97% | 230.98% | 21.9% | 32.99% | -13.47% | 13.01% | -30.27% |
EBITDA | 117.32M | 158.35M | 138.49M | 266.15M | 330.2M | 391.95M | 361.2M | 386.02M | 342.36M |
EBITDA Margin % | 8.66% | 10.61% | 8.14% | 13.76% | 13.73% | 15.24% | 13.78% | 14% | 12.93% |
EBITDA Growth % | -2.94% | 34.98% | -12.54% | 92.18% | 24.07% | 18.7% | -7.84% | 6.87% | -11.31% |
D&A (Non-Cash Add-back) | 43.65M | 48.73M | 86.93M | 95.51M | 122.18M | 115.31M | 121.83M | 115.5M | 153.72M |
EBIT | 62.22M | 113.7M | 138.49M | 170.64M | 210.47M | 281.65M | 249.4M | 270.52M | 188.64M |
Net Interest Income | -20.35M | -7.18M | -17.59M | -23.15M | -23.8M | -19.12M | -24.57M | -22.14M | -30.67M |
Interest Income | 8.75M | 7.56M | 3.79M | 2.56M | 2.65M | 5.82M | 13.8M | 0 | 0 |
Interest Expense | 29.11M | 14.74M | 21.38M | 25.71M | 26.45M | 24.94M | 38.37M | 22.14M | 30.67M |
Other Income/Expense | -20M | -8.29M | -18.65M | -25.35M | -23.5M | -21.74M | -27.56M | -20.07M | -37.4M |
Pretax Income | 50.81M▲ 0% | 101.36M▲ 99.5% | 119.84M▲ 18.2% | 145.29M▲ 21.2% | 184.52M▲ 27.0% | 254.9M▲ 38.1% | 211.81M▼ 16.9% | 250.46M▲ 18.2% | 151.23M▼ 39.6% |
Pretax Margin % | 3.75% | 6.79% | 7.04% | 7.51% | 7.67% | 9.91% | 8.08% | 9.08% | 5.71% |
Income Tax | 13.37M | 24.34M | 27.2M | 31.27M | 42.61M | 55.23M | 46.08M | 56.66M | 40.78M |
Effective Tax Rate % | 26.31% | 24.01% | 22.7% | 21.52% | 23.1% | 21.67% | 21.75% | 22.62% | 26.96% |
Net Income | 11.18M▲ 0% | 32.2M▲ 188.0% | 92.64M▲ 187.6% | 46.78M▼ 49.5% | 54.59M▲ 16.7% | 81.39M▲ 49.1% | 64.01M▼ 21.4% | 79.67M▲ 24.5% | 28.39M▼ 64.4% |
Net Margin % | 0.83% | 2.16% | 5.45% | 2.42% | 2.27% | 3.16% | 2.44% | 2.89% | 1.07% |
Net Income Growth % | -50.17% | 187.96% | 187.64% | -49.51% | 16.69% | 49.11% | -21.35% | 24.46% | -64.37% |
Net Income (Continuing) | 39.44M | 77.39M | 0 | 114.02M | 141.9M | 199.67M | 165.73M | 193.79M | 110.45M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -8.42M |
Minority Interest | 413.73M | 437.77M | 474.69M | 604.77M | 638.83M | 625.17M | 682.42M | 710.01M | 435.18M |
EPS (Diluted) | 0.74▲ 0% | 2.07▲ 179.7% | 6.04▲ 191.8% | 3.01▼ 50.2% | 3.50▲ 16.3% | 5.21▲ 48.9% | 4.12▼ 20.9% | 5.09▲ 23.5% | 1.80▼ 64.6% |
EPS Growth % | -50.34% | 179.73% | 191.79% | -50.17% | 16.28% | 48.86% | -20.92% | 23.54% | -64.64% |
EPS (Basic) | 0.78 | 2.13 | 6.10 | 3.05 | 3.57 | 5.31 | 4.17 | 5.21 | 1.85 |
Diluted Shares Outstanding | 14.72M | 15.57M | 15.34M | 15.29M | 15.4M | 15.5M | 15.5M | 15.64M | 15.79M |
Basic Shares Outstanding | 14.36M | 15.1M | 15.19M | 15.29M | 15.29M | 15.3M | 15.3M | 15.3M | 15.31M |
Dividend Payout Ratio | 108.02% | 15.56% | 14% | 31.94% | 40.45% | 26.76% | 15.51% | 23.61% | 101.74% |
FORTY Balance Sheet
Formula Systems (1985) Ltd. (FORTY) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 694.51M | 780.95M | 965.78M | 1.16B | 1.3B | 1.37B | 1.38B | 1.49B | 2.17B |
Cash & Short-Term Investments | 260.82M | 295.63M | 405.53M | 533.15M | 512.46M | 569.06M | 528.17M | 563.2M | 1.28B |
Cash Only | 245.94M | 268.84M | 369.04M | 501.63M | 485.39M | 544.34M | 451.95M | 507.8M | 1.28B |
Short-Term Investments | 14.88M | 26.79M | 36.49M | 31.53M | 27.07M | 24.71M | 76.22M | 55.4M | 371.99K |
Accounts Receivable | 404.08M | 456.51M | 513.04M | 556.15M | 719.57M | 725.07M | 721.01M | 838.23M | 774.46M |
Days Sales Outstanding | 108.84 | 111.61 | 110.08 | 104.96 | 109.18 | 102.88 | 100.41 | 110.95 | 106.75 |
Inventory | 3.3M | 3.88M | 7.16M | 23.99M | 21.22M | 35.18M | 42.01M | 30.73M | 30.25M |
Days Inventory Outstanding | 1.14 | 1.22 | 1.99 | 5.89 | 4.21 | 6.59 | 7.75 | 5.41 | 5.03 |
Other Current Assets | 18.31M | 15.3M | 2.66M | 453K | -889K | 1.49M | 43.99M | 6.36M | 80.52M |
Total Non-Current Assets | 866.51M | 883.51M | 1.12B | 1.36B | 1.45B | 1.42B | 1.44B | 1.53B | 1.44B |
Property, Plant & Equipment | 29.57M | 29.18M | 147.19M | 173.97M | 172.72M | 172.31M | 173.58M | 208.17M | 193.07M |
Fixed Asset Turnover | 45.82x | 51.16x | 11.56x | 11.12x | 13.93x | 14.93x | 15.10x | 13.25x | 13.71x |
Goodwill | 617.27M | 640.86M | 724.19M | 872.42M | 932.85M | 926.16M | 936.58M | 975.08M | 814.37M |
Intangible Assets | 163.98M | 150.05M | 165.28M | 222.26M | 241.94M | 222.73M | 206.93M | 217.08M | 0 |
Long-Term Investments | 25.26M | 25.65M | 26.35M | 28.48M | 28.9M | 20.64M | 45.23M | 65.11M | 353.45M |
Other Non-Current Assets | 16.64M | 22.77M | 21.49M | 22.7M | 23.68M | 39.75M | 27.57M | 28.99M | 50.38M |
Total Assets | 1.56B▲ 0% | 1.66B▲ 6.6% | 2.09B▲ 25.5% | 2.52B▲ 20.7% | 2.75B▲ 9.0% | 2.79B▲ 1.7% | 2.81B▲ 0.6% | 3.01B▲ 7.2% | 3.6B▲ 19.5% |
Asset Turnover | 0.87x | 0.90x | 0.81x | 0.77x | 0.88x | 0.92x | 0.93x | 0.91x | 0.73x |
Asset Growth % | 14.89% | 6.63% | 25.47% | 20.67% | 9.03% | 1.71% | 0.64% | 7.18% | 19.55% |
Total Current Liabilities | 409.99M | 525.99M | 671.29M | 779.8M | 944.69M | 1B | 985.66M | 1.14B | 1.33B |
Accounts Payable | 95.34M | 118.79M | 125.16M | 153.32M | 205.84M | 222.48M | 258.65M | 292.07M | 368.31M |
Days Payables Outstanding | 32.88 | 37.39 | 34.74 | 37.65 | 40.79 | 41.65 | 47.75 | 51.41 | 61.2 |
Short-Term Debt | 75.64M | 127M | 156.66M | 161.9M | 224.15M | 226.18M | 218.86M | 275.58M | 297.72M |
Deferred Revenue (Current) | 58.91M | 59.85M | 93.51M | 128.9M | 140.66M | 131.64M | 137.64M | 173.96M | 157.54M |
Other Current Liabilities | 91.35M | 111.05M | 118.25M | 113.37M | 124.84M | 89.5M | 86.04M | 119.47M | 264.02M |
Current Ratio | 1.69x | 1.48x | 1.44x | 1.49x | 1.38x | 1.37x | 1.40x | 1.30x | 1.63x |
Quick Ratio | 1.69x | 1.48x | 1.43x | 1.46x | 1.35x | 1.33x | 1.35x | 1.28x | 1.61x |
Cash Conversion Cycle | 77.09 | 75.44 | 77.33 | 73.21 | 72.59 | 67.82 | 60.42 | 64.95 | 50.58 |
Total Non-Current Liabilities | 378.1M | 333.34M | 520.8M | 632.72M | 623.2M | 614.82M | 518.75M | 485.56M | 475.13M |
Long-Term Debt | 269.36M | 254.43M | 337.47M | 383.39M | 362.26M | 421.51M | 322.43M | 249.04M | 186.73M |
Capital Lease Obligations | 0 | 0 | 73.69M | 91.19M | 84.84M | 78.97M | 84.64M | 119.59M | 107.8M |
Deferred Tax Liabilities | 36.24M | 35.2M | 50.93M | 68.37M | 78.14M | 58.99M | 59.21M | 42.89M | 83.42M |
Other Non-Current Liabilities | 42.47M | 39.47M | 50.03M | 72.07M | 78.19M | 47.25M | 47.61M | 61.52M | 80.72M |
Total Liabilities | 788.1M | 859.33M | 1.19B | 1.41B | 1.57B | 1.62B | 1.5B | 1.63B | 1.81B |
Total Debt | 344.97M | 381.43M | 603.49M | 668.54M | 712.91M | 772.67M | 669.99M | 689.45M | 592.25M |
Net Debt | 99.03M | 112.59M | 234.45M | 166.91M | 227.52M | 228.33M | 218.04M | 181.65M | -687.85M |
Debt / Equity | 0.45x | 0.47x | 0.67x | 0.60x | 0.60x | 0.66x | 0.51x | 0.50x | 0.33x |
Debt / EBITDA | 2.94x | 2.41x | 4.36x | 2.51x | 2.16x | 1.97x | 1.85x | 1.79x | 1.73x |
Net Debt / EBITDA | 0.84x | 0.71x | 1.69x | 0.63x | 0.69x | 0.58x | 0.60x | 0.47x | -2.01x |
Interest Coverage | 2.14x | 7.71x | 6.48x | 6.64x | 7.96x | 11.29x | 6.50x | 12.22x | 6.15x |
Total Equity | 772.92M▲ 0% | 805.14M▲ 4.2% | 896.33M▲ 11.3% | 1.11B▲ 23.6% | 1.18B▲ 6.5% | 1.18B▼ 0.2% | 1.31B▲ 11.1% | 1.39B▲ 6.2% | 1.8B▲ 29.4% |
Equity Growth % | 6.78% | 4.17% | 11.33% | 23.56% | 6.53% | -0.23% | 11.14% | 6.2% | 29.43% |
Book Value per Share | 52.51 | 51.70 | 58.43 | 72.42 | 76.59 | 75.92 | 84.41 | 88.85 | 113.91 |
Total Shareholders' Equity | 359.19M | 367.37M | 421.64M | 502.73M | 540.96M | 551.87M | 625.76M | 679.34M | 1.36B |
Common Stock | 4.19M | 4.19M | 4.34M | 4.34M | 4.34M | 4.35M | 4.35M | 4.35M | 0 |
Retained Earnings | 239.53M | 262.56M | 285.15M | 324.36M | 358.31M | 419.45M | 475.22M | 536.01M | 0 |
Treasury Stock | -259K | -259K | -259K | -259K | -259K | -259K | -259K | -259K | 0 |
Accumulated OCI | 18.08M | 3.13M | 11.68M | 25.51M | 25.52M | -17.03M | -11.03M | -13.42M | 0 |
Minority Interest | 413.73M | 437.77M | 474.69M | 604.77M | 638.83M | 625.17M | 682.42M | 710.01M | 435.18M |
FORTY Cash Flow Statement
Formula Systems (1985) Ltd. (FORTY) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 80.98M | 82.59M | 196.08M | 286.94M | 208.48M | 239.14M | 294.97M | 324.45M | 391.13M |
Operating CF Margin % | 5.98% | 5.53% | 11.53% | 14.84% | 8.67% | 9.3% | 11.25% | 11.77% | 14.77% |
Operating CF Growth % | 8.04% | 1.99% | 137.4% | 46.34% | -27.34% | 14.71% | 23.35% | 9.99% | 20.55% |
Net Income | 39.44M | 77.39M | 94.42M | 114.02M | 141.9M | 199.67M | 165.73M | 193.79M | 36.8M |
Depreciation & Amortization | 43.65M | 48.73M | 86.93M | 95.51M | 122.18M | 115.31M | 121.83M | 115.5M | 153.72M |
Stock-Based Compensation | 4.55M | 3.98M | 3.87M | 7.78M | 14.77M | 14.95M | 18.62M | 16.16M | 0 |
Deferred Taxes | -12.82M | -5.74M | -13.16M | -6.35M | -8M | -18.14M | -8.34M | -12.41M | -8.33M |
Other Non-Cash Items | 13.7M | -4.66M | 2.4M | 4.81M | 6.68M | -51.33M | -3.51M | -9.64M | 102.83M |
Working Capital Changes | -7.54M | -37.12M | 21.6M | 71.18M | -69.06M | -21.32M | 640K | 21.05M | 106.1M |
Change in Receivables | -38.22M | -66.07M | 16.27M | 32.05M | -130.31M | -48.77M | 6.56M | -82.73M | 52.35M |
Change in Inventory | 1.04M | -1.02M | -938K | -10.97M | 4.64M | -13.76M | -3.38M | 11.72M | 5.14M |
Change in Payables | 6.09M | 19.95M | -18.01M | 10.95M | 40.08M | 25.33M | 18.72M | 40.03M | 24.43M |
Cash from Investing | -102.54M | -90.45M | -108.22M | -177.03M | -110.19M | -74.3M | -139.24M | -78.18M | 539.25M |
Capital Expenditures | -18.91M | -20.63M | -36.59M | -28.81M | -31.06M | -39.31M | -16.68M | -16.44M | -28.11M |
CapEx % of Revenue | 1.4% | 1.38% | 2.15% | 1.49% | 1.29% | 1.53% | 0.64% | 0.6% | 1.06% |
Acquisitions | -125.33M | -57.36M | -61.77M | -157.13M | -85.95M | -14.52M | -48.84M | -80.21M | 514.29M |
Investments | - | - | - | - | - | - | - | - | - |
Other Investing | 1.1M | -25.47M | -13.03M | 11.94M | 18.65M | -5.7M | -72.67M | 12.69M | -6.15M |
Cash from Financing | 16.42M | 40.97M | 6.01M | 9.73M | -114.13M | -70.98M | -243.18M | -184.96M | -202.07M |
Debt Issued (Net) | 59.08M | 55.61M | 14.02M | 12.55M | 18.04M | 66.71M | -152.35M | -87.01M | -101.72M |
Equity Issued (Net) | 0 | 25.4M | 0 | 108.74M | 2.08M | -95K | 4.83M | -1.58M | 84.32M |
Dividends Paid | -12.08M | -5.01M | -12.97M | -14.94M | -22.08M | -21.78M | -9.93M | -18.81M | -28.88M |
Share Repurchases | 0 | 0 | -953K | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | -27.99M | -35.03M | 4.96M | -96.61M | -112.17M | -115.82M | -85.73M | -77.57M | -155.79M |
Net Change in Cash | 7.78M▲ 0% | 22.55M▲ 190.0% | 100.17M▲ 344.3% | 132.98M▲ 32.8% | -16.26M▼ 112.2% | 58.95M▲ 462.6% | -92.4M▼ 256.7% | 55.85M▲ 160.4% | 772.3M▲ 1282.7% |
Free Cash Flow | 62.07M▲ 0% | 61.96M▼ 0.2% | 159.5M▲ 157.4% | 258.13M▲ 61.8% | 177.42M▼ 31.3% | 199.82M▲ 12.6% | 262.97M▲ 31.6% | 295.49M▲ 12.4% | 374.82M▲ 26.8% |
FCF Margin % | 4.58% | 4.15% | 9.38% | 13.35% | 7.38% | 7.77% | 10.03% | 10.72% | 14.16% |
FCF Growth % | 11.52% | -0.17% | 157.4% | 61.85% | -31.27% | 12.62% | 31.6% | 12.37% | 26.85% |
FCF per Share | 4.22 | 3.98 | 10.40 | 16.88 | 11.52 | 12.89 | 16.97 | 18.90 | 23.74 |
FCF Conversion (FCF/Net Income) | 7.24x | 2.56x | 2.12x | 6.13x | 3.82x | 2.94x | 4.61x | 4.07x | 13.78x |
Interest Paid | 6.45M | 9.06M | 15.73M | 16.57M | 15.34M | 17.57M | 26.14M | 25.85M | 0 |
Taxes Paid | 19.68M | 23.3M | 39.06M | 44.66M | 38.39M | 51.26M | 76.69M | 63.08M | 0 |
FORTY Key Ratios
Formula Systems (1985) Ltd. (FORTY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | 3.22% | 1.49% | 4.08% | 10.89% | 4.67% | 4.77% | 6.91% | 5.15% | 5.91% | 1.78% |
Return on Invested Capital (ROIC) | 9.16% | 6.84% | 9.19% | 3.78% | 10.64% | 11.64% | 14.75% | 12.25% | 13.1% | 10.55% |
Gross Margin | 23.34% | 21.9% | 22.33% | 22.69% | 23.14% | 23.44% | 24.2% | 24.56% | 24.81% | 17.05% |
Net Margin | 2.02% | 0.83% | 2.16% | 5.45% | 2.42% | 2.27% | 3.16% | 2.44% | 2.89% | 1.07% |
Debt / Equity | 0.36x | 0.45x | 0.47x | 0.67x | 0.60x | 0.60x | 0.66x | 0.51x | 0.50x | 0.33x |
Interest Coverage | 5.67x | 2.14x | 7.71x | 6.48x | 6.64x | 7.96x | 11.29x | 6.50x | 12.22x | 6.15x |
FCF Conversion | 3.34x | 7.24x | 2.56x | 2.12x | 6.13x | 3.82x | 2.94x | 4.61x | 4.07x | 13.78x |
Revenue Growth | 38.79% | 22.24% | 10.17% | 13.94% | 13.69% | 24.39% | 6.94% | 1.89% | 5.21% | -3.97% |
Related:FORTY Dividend History·FORTY Revenue History·FORTY Price History·FORTY P/E History·FORTY Financial Ratios·FORTY Institutional Holders
FORTY Frequently Asked Questions
Formula Systems (1985) Ltd. (FORTY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Formula Systems (1985) Ltd. (FORTY) reported $2.79B in revenue for fiscal year 2025. This represents a 977% increase from $258.8M in 1998.
Formula Systems (1985) Ltd. (FORTY) saw revenue decline by 4.0% over the past year.
Yes, Formula Systems (1985) Ltd. (FORTY) is profitable, generating $610.2M in net income for fiscal year 2025 (1.1% net margin).
Dividend & Returns
Yes, Formula Systems (1985) Ltd. (FORTY) pays a dividend with a yield of 1.62%. This makes it attractive for income-focused investors.
Formula Systems (1985) Ltd. (FORTY) has a return on equity (ROE) of 1.8%. This is below average, suggesting room for improvement.
Formula Systems (1985) Ltd. (FORTY) generated $374.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.