Formula Systems (1985) Ltd
FORTY Nasdaq· Services-Computer Programming Services
Last close · Oct 26, 2026
$129.90
KIRA · Stoqly’s AI analyst, in plain words
- Formula Systems (1985) Ltd had $2.6B of revenue in fiscal 2025, up 18.4% on the year before. Over five years, revenue changed +6.3% a year on average.
- Formula Systems (1985) Ltd made $606M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew 43.5% a year.
- Free cash flow was $366M in fiscal 2025, 13.9% of revenue.
- Formula Systems (1985) Ltd returned $28.7M to shareholders in fiscal 2025, 8% of free cash flow. The diluted share count rose 1.0%.
- Formula Systems (1985) Ltd has $917M more cash than debt.
Market cap
$2.1B
P/E
3.4x
Revenue
$2.6B
Net income
$606M
Free cash flow
$366M
Operating margin
—
Formula Systems (1985) Ltd in 30 seconds · fiscal 2025
Are sales growing?
+18.4%
Yes. Sales grew 18.4% last year.
Does it make a profit?
23.1%
Yes. It keeps 23.1% of every sale as profit.
Does profit turn into cash?
13.9%
Yes. 13.9% of sales ends up as free cash.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
3.4x
One share costs 3.4 times its yearly profit per share.
What Formula Systems (1985) Ltd does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · May 13, 2026
- Legal name
- FORMULA SYSTEMS (1985) LTD
- CIK
- 0001045986
Formula Systems (1985) Ltd · FORTY
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $2.4B | $2.6B | $2.1B | $2.2B | $2.6B |
| Revenue growth | 24.3% | 7.0% | −18.0% | 5.1% | 18.4% |
| Gross margin | 23.5% | 24.2% | 20.0% | 20.1% | 19.8% |
| Net income | $54.6M | $81.4M | $64.0M | $79.7M | $606M |
| Net margin | 2.3% | 3.2% | 3.0% | 3.6% | 23.1% |
| Diluted EPS | $3.50 | $5.21 | $4.12 | $5.09 | $38.39 |
| Cash | |||||
| Cash from operations | $209M | $239M | $295M | $324M | $382M |
| Capital expenditure | $17.4M | $22.1M | $16.7M | $16.4M | $16.2M |
| Free cash flow | $192M | $217M | $278M | $308M | $366M |
| FCF margin | 8.0% | 8.4% | 13.2% | 13.9% | 13.9% |
| Dividends paid | $22.1M | $21.8M | $9.9M | $18.8M | $28.7M |
| Share count change | — | — | 99,887.7% | 0.9% | 1.0% |
| Debt and strength | |||||
| Cash and short-term investments | $485M | $544M | $452M | $508M | $1.3B |
| Debt incl. finance leases | — | — | $316M | $309M | $363M |
| Shareholders' equity | $541M | $552M | $626M | $679M | $1.4B |
| Current ratio | 1.4x | 1.4x | 1.4x | 1.3x | 1.6x |
| Returns and quality | |||||
| Return on equity | 10.5% | 14.9% | 10.9% | 12.2% | 59.7% |
| Return on tangible equity | — | — | — | — | 108.4% |
| Piotroski F-score | 6 | 6 | 4 | 6 | 5 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Formula Systems (1985) Ltd · FORTY
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $129.90 a share, the company is worth $2.1B: 3.4 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001045986). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.