FORTY · CIK 0001045986
FORMULA SYSTEMS (1985) LTD.
Annual figures as reported, FY2014–FY2024. Ratios and growth rates derived on-page.
Services-Computer Programming Services
Company profile
Revenue
$2.8B
▲ +5.2% vs FY2023
Net income
$193.8M
▲ +16.9% vs FY2023
Free cash flow
$308.0M
▲ +10.7% vs FY2023
Diluted EPS
$5.09
▲ +23.5% vs FY2023
Revenue
Annual, as reported
Net income
Annual, as reported
Profitability & returns
quality of earningsMargins
Share of revenue kept at each line
Gross marginNet margin
Returns on capital
Net income vs year-end equity and assets
Return on equityReturn on assets
Cash flow
cash generationFree cash flow
Operating cash flow less capital expenditure
Operating cash flow
Net cash from operations
Shareholder returns
capital allocationCapital returned
Cash paid out as dividends and share repurchases
Dividends paid
Diluted shares outstanding
Falling count means buybacks outpace dilution
Balance sheet
financial positionStockholders’ equity
At fiscal year end
Growth rates
compounding, annualizedRevenue CAGR
+4.7%
3y
+10.1%
5y
Net income CAGR
+10.9%
3y
+15.5%
5y
Diluted EPS CAGR
+13.3%
3y
+15.8%
5y
Free cash flow CAGR
+17.1%
3y
+12.1%
5y
Key ratios
derived per fiscal year| Fiscal year | Gross margin | Net margin | FCF margin | ROE | ROA | Current ratio | DPS |
|---|---|---|---|---|---|---|---|
| FY2024 | 24.8% | 7.0% | 11.2% | 13.9% | 6.4% | 1.31× | $0.22 |
| FY2023 | 24.6% | 6.3% | 10.6% | 12.7% | 5.9% | 1.40× | — |
| FY2022 | 24.2% | 7.8% | 8.4% | 17.0% | 7.1% | 1.37× | — |
| FY2021 | 23.5% | 5.9% | 8.0% | 12.0% | 5.2% | 1.37× | — |
| FY2020 | 23.1% | 5.9% | 14.0% | 10.3% | 4.5% | 1.49× | — |
| FY2019 | 22.7% | 5.6% | 10.2% | 10.5% | 4.5% | 1.44× | — |
| FY2018 | 22.3% | 5.2% | 4.8% | 9.6% | 4.6% | 1.49× | — |
| FY2017 | 21.9% | 2.9% | 5.3% | 5.1% | 2.5% | 1.60× | — |
| FY2016 | 23.3% | 5.1% | 5.9% | 7.8% | 4.1% | 1.76× | — |
| FY2015 | 23.8% | 5.2% | 8.3% | 7.1% | — | — | — |
| FY2014 | — | — | — | — | — | — | — |
Annual figures
as reported| Fiscal year | Revenue | Gross profit | Op. income | Net income | Diluted EPS | Op. cash flow | Capex | Total assets | Liabilities | Equity | Cash | LT debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY2024 | $2.8B | $684.7M | — | $193.8M | $5.09 | $324.4M | $16.4M | $3.0B | $1.6B | $1.4B | $507.8M | — |
| FY2023 | $2.6B | $643.7M | — | $165.7M | $4.12 | $295.0M | $16.7M | $2.8B | $1.5B | $1.3B | $451.9M | — |
| FY2022 | $2.6B | $622.5M | — | $199.7M | $5.21 | $239.1M | $22.1M | $2.8B | $1.6B | $1.2B | $544.3M | — |
| FY2021 | $2.4B | $563.9M | — | $141.9M | $3.50 | $209.1M | $17.4M | $2.7B | $1.6B | $1.2B | $485.4M | — |
| FY2020 | $1.9B | $447.4M | — | $114.0M | $3.01 | $288.1M | $16.7M | $2.5B | $1.4B | $1.1B | $501.6M | — |
| FY2019 | $1.7B | $386.0M | — | $94.4M | $2.44 | $196.1M | $22.4M | $2.1B | $14.0M | $896.3M | $368.7M | — |
| FY2018 | $1.5B | $333.3M | — | $77.4M | $2.14 | $82.6M | $11.6M | $1.7B | $7.1M | $805.4M | $268.5M | — |
| FY2017 | $1.4B | $296.8M | — | $39.4M | $0.68 | $81.1M | $9.6M | $1.6B | $59.2M | $772.9M | $245.9M | — |
| FY2016 | $1.1B | $258.8M | — | $56.1M | $1.49 | $75.0M | $9.1M | $1.4B | $56.7M | $723.8M | $240.1M | — |
| FY2015 | $973.2M | $231.9M | — | $50.4M | $1.33 | $87.1M | $6.8M | — | — | $705.3M | $249.1M | — |
| FY2014 | — | — | — | — | — | — | — | — | — | $692.3M | $179.9M | — |
Latest filings
the most recent regulatory filings6-KFORMULA ANNOUNCES AGM TO BE HELD ON JULY 20 20262026-06-15 ↗SCHEDULE 13G/ASEC filing2026-06-08 ↗6-KFORMULA REPORTS 1ST QUARTER FINANCIAL RESULTS2026-05-28 ↗6-KFORMULA DECLARES SPECIAL CASH DIVIDEND2026-05-14 ↗20-FANNUAL REPORT2026-05-13 ↗SCHEDULE 13G/ASEC filing2026-05-05 ↗NT 20-FFORMULA SYSTEMS TO FILE 2025 ANNUAL REPORT BY MAY 15 20262026-04-30 ↗3PRIMARY DOCUMENT2026-04-20 ↗3PRIMARY DOCUMENT2026-04-20 ↗3PRIMARY DOCUMENT2026-04-16 ↗
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