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Formula Systems (1985) Ltd.

FORTY Technology Information Technology Services

Formula Systems (1985) Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $2.6 billion, up 18.4% from fiscal 2024.

Revenue: +29.8%
EPS: +55.1%
Free cash flow: +1,330.8%
Total debt: +1.98%

Quarter to June 2026, against a year earlier

Operating cash flow growth 3 yrs

109.05 1.20 −1.09%

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Market cap: $1.7B
P/E: 2.6×
Fwd P/E: 13.9×
Dividend yield: 1.97%
F-score: 6/9
Altman Z: 2.48
Beneish M: −2.92
Dividend safety: 77/100

Overview

	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16
P/E ratio Full definition →	4.22	17.08	15.52	13.25	34.73	27.94	26.66	16.27	57.77	25.59
Piotroski F-Score Full definition →	6	5	7	6	7	6	5	6	4	6
P/S ratio Full definition →	0.97	0.61	0.38	0.42	0.79	0.68	0.61	0.35	0.46	0.52
Altman Z-Score Full definition →	2.48	1.83	2.01	2.02	2.19	1.91	1.91	1.89	1.88	2.06
Altman Z″-Score (non-manufacturers) Full definition →	3.94	2.64	2.95	2.79	2.57	2.69	2.60	2.95	2.94	3.54
P/FCF ratio Full definition →	3.86	4.28	1.10	1.35	2.91	2.71	4.03	4.24	3.64	5.32
Beneish M-Score Full definition →	(2.92)	(2.51)	(2.63)	(2.60)	(2.40)	(2.70)	(2.60)	(2.42)	(2.52)	(2.37)
P/Operating CF Full definition →	6.69	4.20	17.90	19.42	34.09	23.51	18.64	9.45	16.06	7.62
Dividend Safety Score Full definition →	77	—	—	—	—	—	—	—	—	—
P/B ratio Full definition →	1.44	0.98	0.76	0.92	1.61	1.18	1.16	0.65	0.80	0.79
Price to Tangible BV Full definition →	2.60	6.91	6.04	38.52	379.33	94.32	151.08	37.07	0.00	5.71
EV/Sales Full definition →	0.65	0.58	0.38	0.45	0.82	0.68	0.66	0.41	0.52	0.32
EV/EBITDA Full definition →	8.75	6.97	4.21	4.19	9.47	7.73	8.13	5.00	8.36	4.00
EV/Operating CF Full definition →	2.18	2.87	0.98	1.24	2.63	2.33	3.55	3.74	3.33	2.74
EV/FCF Full definition →	2.59	4.02	1.12	1.45	3.02	2.73	4.38	4.93	4.14	3.30
Quick Ratio Full definition →	1.61	1.28	1.35	1.34	1.35	1.46	1.43	1.48	1.60	1.75
Current Ratio Full definition →	1.63	1.31	1.40	1.37	1.37	1.49	1.44	1.49	1.60	1.76
Net Debt/EBITDA Full definition →	(2.40)	(0.28)	0.04	0.20	0.22	0.05	0.39	0.54	0.72	(1.80)
Debt/Assets Full definition →	12.32%	15.90%	19.25%	23.18%	21.34%	21.64%	23.65%	22.91%	22.06%	4.33%
Debt/Equity Full definition →	0.25	0.35	0.41	0.55	0.50	0.49	0.55	0.47	0.45	0.08
Asset Turnover Full definition →	0.80	0.76	0.93	0.93	0.91	0.84	0.91	0.93	0.93	0.86
Operating CF/Net income Full definition →	0.63	4.07	4.61	2.94	3.83	6.13	5.05	2.55	7.83	3.34
Capex/Depreciation Full definition →	(0.18)	(0.25)	(0.25)	(0.34)	(0.24)	(0.29)	(0.40)	(0.41)	(0.43)	(0.52)
Interest Coverage Full definition →	3.09	5.25	5.68	10.16	6.94	5.80	6.17	6.92	2.44	5.03
ROE Full definition →	38.30%	5.91%	5.15%	6.91%	4.77%	4.67%	4.56%	4.10%	1.38%	3.14%
ROA Full definition →	18.38%	2.73%	2.28%	2.94%	2.07%	2.03%	2.07%	2.01%	0.71%	1.75%
ROIC Full definition →	13.07%	8.78%	11.32%	13.77%	10.37%	9.52%	8.78%	7.68%	5.31%	10.91%
Return on Tangible Assets Full definition →	68.68%	19.90%	14.45%	19.13%	13.27%	10.63%	11.51%	11.37%	3.55%	7.46%
Average Days of Receivables Full definition →	118.80	146.95	112.20	108.87	116.65	113.94	118.38	117.82	116.00	116.56
Research and Development Expense of Revenue Full definition →	0.76%	0.81%	2.97%	2.80%	2.74%	2.72%	2.74%	2.76%	2.94%	2.01%
Selling, General and Administrative Expense of Revenue Full definition →	11.88%	11.26%	12.45%	12.36%	12.06%	11.59%	11.81%	12.22%	13.59%	13.35%
Intangible Assets out of Total Assets Full definition →	0.22	0.40	0.41	0.41	0.43	0.43	0.43	0.48	0.50	0.46
Share Based Compensation of Revenue Full definition →	1.19%	0.73%	0.71%	0.58%	0.61%	0.40%	0.23%	0.27%	0.34%	0.40%
Graham Net Nets Full definition →	0.14	(0.10)	(0.13)	(0.23)	(0.14)	(0.19)	(0.22)	(0.15)	(0.16)	0.01
Graham Number Full definition →	321.75	103.16	89.78	96.06	78.73	70.66	58.30	51.89	29.86	42.41
Earnings Yield Full definition →	23.72%	5.85%	6.44%	7.55%	2.88%	3.58%	3.75%	6.14%	1.73%	3.91%
Free Cash Flow Yield Full definition →	25.91%	23.35%	90.81%	74.15%	34.36%	36.91%	24.79%	23.60%	27.47%	18.80%
Revenue per Share Full definition →	171.61	144.95	171.29	168.17	157.25	126.52	111.99	101.29	93.87	78.00
Operating CF per Share Full definition →	24.96	21.20	19.28	15.63	13.68	18.77	12.91	5.60	5.62	5.27
Capex per Share Full definition →	(1.82)	(1.89)	(2.02)	(2.53)	(1.88)	(1.84)	(2.30)	(1.37)	(1.31)	(1.19)
Free Cash Flow per Share Full definition →	23.13	19.31	17.25	13.11	11.79	16.93	10.61	4.23	4.31	4.08
Cash per Share Full definition →	83.64	36.80	34.52	37.20	33.52	34.88	26.67	20.03	18.07	19.40
Shareholders Equity per Share Full definition →	116.13	90.78	85.50	76.94	77.16	72.52	59.01	54.64	53.54	50.92
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	116.13	90.78	85.50	76.94	77.16	72.52	59.01	54.64	53.54	50.92
Free Cash Flow Full definition →	354.15	295.49	264.01	200.45	180.32	258.83	161.16	62.40	62.18	58.01
Working Capital Full definition →	835.49	348.57	390.19	370.51	354.52	380.97	294.11	255.57	261.85	274.62
Capital Expenditures Full definition →	(27.89)	(28.96)	(30.95)	(38.68)	(28.77)	(28.11)	(34.93)	(20.19)	(18.91)	(16.95)
Net Current Asset Value Full definition →	360.36	(138.51)	(128.56)	(245.53)	(266.66)	(250.67)	(227.42)	(78.05)	(95.91)	2.98
EV/EBIT Full definition →	8.75	6.97	4.21	4.19	9.47	7.73	8.13	5.58	9.63	4.00
Capex to Sales Full definition →	0.01	0.01	0.01	0.02	0.01	0.01	0.02	0.01	0.01	0.02
Price to Operating Income Full definition →	13.02	7.43	4.16	3.90	9.11	7.66	7.48	4.79	8.48	6.45
Other line items
Depreciation/Fixed assets Full definition →	3.20	2.23	2.30	2.10	2.15	1.61	2.02	1.67	1.46	1.24
Cash ROIC Full definition →	10.12%	12.15%	11.10%	8.37%	7.91%	11.83%	8.97%	4.21%	4.51%	5.48%
Accounts Receivable Turnover Full definition →	3.01	2.61	3.33	3.35	3.50	3.35	3.29	3.27	3.45	3.39
Accounts Payable Turnover Full definition →	4.40	4.88	6.17	6.55	7.24	7.24	7.29	7.22	7.84	7.42
Inventory Turnover Full definition →	69.14	48.74	51.23	69.14	81.42	91.13	210.11	322.98	291.87	194.03
Average Days of Payables Full definition →	97.68	81.18	61.25	57.81	56.77	54.58	52.27	54.32	51.21	52.13
Days of Inventory on Hand Full definition →	5.24	6.33	7.75	6.59	4.21	5.89	2.40	1.22	1.14	1.70
Average Receivables Full definition →	874.10	849.40	786.47	767.85	686.07	577.71	516.82	456.31	392.35	327.38
Average Payables Full definition →	479.20	363.02	320.30	297.53	254.27	205.32	180.46	160.53	134.94	114.50
Average Inventory Full definition →	30.49	36.37	38.59	28.20	22.60	16.31	6.26	3.59	3.63	4.38
Average Assets Full definition →	3,299.08	2,913.75	2,803.28	2,771.26	2,634.32	2,304.67	1,876.90	1,614.09	1,459.08	1,284.96
Average Common Equity Full definition →	1,583.57	1,348.77	1,242.55	1,178.35	1,144.17	1,002.44	850.87	789.16	748.38	714.56

Show all line items

Columns are period end dates

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