Last 47 quarters of trend data · Technology · Information Technology Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Formula Systems (1985) Ltd.'s quarterly P/E stands at 1.2x, down 93.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has expanded 173.5% YoY to 15.0x, reflecting rising market expectations or slowing EBITDA growth.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 60.27 | 1.18 | 48.04 | 33.62 | 18.18 | 17.38 | 13.25 | 15.00 | 18.87 | 16.17 | 18.79 | 16.78 | 6.01 |
| — | -93.2% | +262.7% | +124.1% | -3.6% | +7.5% | -29.5% | -10.6% | +213.9% | +149.9% | +143.7% | +247.2% | -32.7% | |
| P/S Ratio | 0.63 | 0.93 | 0.79 | 0.66 | 0.57 | 0.51 | 0.45 | 0.42 | 0.46 | 0.40 | 0.45 | 0.44 | 0.38 |
| — | +83.7% | +77.1% | +57.3% | +23.4% | +27.7% | +0.3% | -4.3% | +22.2% | -8.6% | -11.2% | -21.1% | -35.5% | |
| P/B Ratio | 0.95 | 1.47 | 1.41 | 1.38 | 1.02 | 1.01 | 0.92 | 0.85 | 0.99 | 0.77 | 0.95 | 0.94 | 0.85 |
| — | +46.3% | +52.8% | +62.4% | +3.2% | +29.9% | -3.5% | -9.8% | +16.0% | -16.9% | -14.7% | -24.1% | -34.9% | |
| P/FCF | 4.44 | 1.76 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 2.85 | 15.02 | 11.06 | 8.31 | 7.98 | 5.49 | 5.14 | 4.25 | 5.94 | 5.10 | 5.26 | 5.23 | 7.17 |
| — | +173.5% | +115.3% | +95.2% | +34.4% | +7.7% | -2.4% | -18.7% | -17.2% | -31.1% | +35.8% | +47.6% | -15.6% | |
| EV / EBIT | 5.17 | 15.02 | 11.06 | 8.31 | 7.98 | 5.49 | 5.14 | 5.04 | 5.94 | 5.10 | 6.31 | 6.25 | 5.41 |
| — | +173.5% | +115.3% | +64.9% | +34.4% | +7.7% | -18.6% | -19.4% | +9.8% | -7.4% | -8.1% | +47.0% | -27.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Formula Systems (1985) Ltd.'s operating margin was 4.6% in Q4 2025, down 3.3 pp QoQ and down 5.8 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 7.4% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 24.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.0% | 19.8% | 19.5% | 25.0% | 19.4% | 26.1% | 24.7% | 24.9% | 23.5% | 25.2% | 24.4% | 24.6% | 24.2% |
| — | -24.2% | -21.1% | +0.1% | -17.4% | +3.7% | +1.3% | +1.5% | -2.7% | -3.4% | +1.1% | +6.4% | +2.5% | |
| Operating Margin | 7.1% | 4.6% | 7.8% | 9.1% | 8.0% | 10.4% | 10.1% | 9.7% | 9.0% | 9.4% | 8.9% | 9.2% | 5.1% |
| — | -56.0% | -22.8% | -6.2% | -10.8% | +10.3% | +14.1% | +6.4% | +75.4% | +80.2% | -31.1% | -40.7% | +3.7% | |
| Net Margin | 1.1% | 78.3% | 2.5% | 2.0% | 3.1% | 2.9% | 3.4% | 2.8% | 2.5% | 2.5% | 2.4% | 2.6% | 6.3% |
| — | +2600.5% | -26.3% | -28.2% | +26.9% | +18.2% | +41.7% | +8.6% | -61.0% | -63.3% | -63.5% | -77.5% | -4.2% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.8% | 33.1% | 1.1% | 1.1% | 1.4% | 1.5% | 1.8% | 1.4% | 1.3% | 1.2% | 1.3% | 1.4% | 3.6% |
| — | +2168.5% | -34.8% | -24.3% | +5.8% | +17.6% | +38.2% | +1.6% | -63.2% | -66.0% | -64.7% | -77.9% | -2.7% | |
| ROA | 0.9% | 16.1% | 0.5% | 0.5% | 0.6% | 0.7% | 0.9% | 0.7% | 0.6% | 0.6% | 0.6% | 0.6% | 1.5% |
| — | +2255.7% | -37.3% | -27.9% | +3.9% | +19.0% | +46.8% | +10.4% | -59.8% | -62.8% | -63.0% | -77.4% | -2.1% | |
| ROIC | 10.6% | 1.7% | 2.3% | 3.2% | 2.4% | 3.4% | 3.5% | 3.2% | 3.1% | 3.0% | 2.8% | 2.9% | 1.8% |
| — | -50.9% | -32.8% | -2.6% | -23.5% | +15.9% | +22.8% | +10.3% | +74.8% | +69.9% | -34.6% | -44.4% | +2.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Formula Systems (1985) Ltd.'s Debt/EBITDA ratio is 18.2x, up from 11.7x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 24.8% YoY to 1.63x, strengthening the short-term liquidity position. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.33 | 0.33 | 0.40 | 0.47 | 0.46 | 0.50 | 0.50 | 0.45 | 0.48 | 0.51 | 0.57 | 0.60 | 0.63 |
| — | -33.6% | -18.5% | +4.5% | -5.7% | -3.1% | -12.2% | -24.9% | -23.2% | -22.0% | -16.0% | +3.7% | -3.1% | |
| Debt / EBITDA | 1.73 | 18.18 | 11.65 | 9.86 | 12.73 | 9.59 | 9.53 | 7.71 | 10.07 | 11.10 | 9.94 | 10.21 | 16.31 |
| — | +89.5% | +22.3% | +27.9% | +26.3% | -13.6% | -4.2% | -24.5% | -38.2% | -35.7% | +31.4% | +82.7% | +11.5% | |
| Current Ratio | 1.63 | 1.63 | 1.60 | 1.21 | 1.26 | 1.30 | 1.41 | 1.40 | 1.33 | 1.40 | 1.41 | 1.40 | 1.35 |
| — | +24.8% | +13.5% | -13.3% | -5.5% | -6.6% | +0.1% | +0.1% | -1.6% | +2.0% | +0.4% | +5.9% | +4.9% | |
| Quick Ratio | 1.61 | 1.61 | 1.58 | 1.17 | 1.23 | 1.28 | 1.38 | 1.37 | 1.30 | 1.35 | 1.37 | 1.36 | 1.31 |
| — | +25.7% | +14.3% | -14.2% | -4.9% | -5.6% | +1.1% | +0.9% | -1.2% | +1.4% | +0.3% | +5.8% | +4.5% | |
| Interest Coverage | 6.15 | 1.38 | 6.16 | 6.64 | 7.63 | 10.41 | 12.23 | 16.99 | 11.17 | 6.55 | 9.07 | 10.69 | 8.58 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying FORTY stock.
Formula Systems (1985) Ltd.'s current P/E is 60.3x. The average P/E over the last 4 quarters is 25.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Formula Systems (1985) Ltd.'s current operating margin is 7.1%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Formula Systems (1985) Ltd.'s business trajectory between earnings reports.