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Formula Systems 1985 Ltd ADR

Technology US FORTY

89.45USD
-0.49(0.54%)

Last update at 2025-03-28T14:14:00Z

Day Range

89.4090.30
LowHigh

52 Week Range

55.5386.06
LowHigh

Fundamentals

  • Previous Close 89.94
  • Market Cap1250.42M
  • Volume1465
  • P/E Ratio18.67
  • Dividend Yield1.58%
  • EBITDA289.74M
  • Revenue TTM2656.42M
  • Revenue Per Share TTM173.60
  • Gross Profit TTM 622.47M
  • Diluted EPS TTM4.21

Financials

Income Statement

2018-12-312019-12-312020-12-312021-12-312022-12-310M200M400M600M800M1000M1200M1400M1600M1800M2000M2200M2400M
Total Revenue
Net Income

Balancesheet

2019-12-312020-12-312021-12-312022-12-312023-12-310M200M400M600M800M1000M1200M1400M1600M1800M2000M2200M2400M2600M2800M
Total Assets
Total Liabilities

Change in Cash

2018-12-312019-12-312020-12-312021-12-312022-12-310M20M40M60M80M100M120M

Total Operating Cash

2018-12-312019-12-312020-12-312021-12-312022-12-3180M100M120M140M160M180M200M220M240M260M280M300M

Dividends Paid

2018-12-312019-12-312020-12-312021-12-312022-12-31-22M-20M-18M-16M-14M-12M-10M-8M-6M-4M-2M0M2M4M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Income before tax 256.71M 184.01M 143.76M 119.84M 101.36M
Minority interest -118.27400M -87.31700M 605.34M 474.69M 437.77M
Net income 201.47M 141.40M 112.49M 92.64M 32.20M
Selling general administrative 317.96M 289.99M 224.19M 200.87M 182.47M
Selling and marketing expenses - - - - -
Gross profit 622.47M 563.86M 447.43M 386.05M 333.31M
Reconciled depreciation 115.31M 122.18M 95.51M 86.93M 48.73M
Ebit 276.64M 85.83M 75.13M 51.56M 60.88M
Ebitda 232.38M 208.01M 170.64M 138.49M 109.62M
Depreciation and amortization -44.26000M 122.18M 95.51M 86.93M 48.73M
Non operating income net other - - - - -
Operating income 276.64M 85.83M 75.13M 51.56M 109.62M
Other operating expenses 2339.98M 2197.49M 1763.28M 1562.63M 1383.37M
Interest expense 19.93M 24.00M 26.89M 18.65M 8.26M
Tax provision 55.23M 42.61M 31.27M 27.20M 24.30M
Interest income 5.82M 5.99M 2.56M 3.04M 6.73M
Net interest income -19.93000M -24.00500M -26.88500M -18.65200M -8.29000M
Extraordinary items - - - - -
Non recurring - - - - -
Other items - - - - -
Income tax expense 55.23M 42.61M 31.27M 27.20M 24.34M
Total revenue 2572.36M 2405.51M 1933.92M 1701.12M 1492.99M
Total operating expenses 390.08M 355.84M 276.79M 247.56M 223.69M
Cost of revenue 1949.89M 1841.65M 1486.48M 1315.07M 1159.68M
Total other income expense net -19.93000M 98.18M 68.62M 68.28M -8.29000M
Discontinued operations - - - - -
Net income from continuing ops 199.67M 141.90M 114.02M 94.42M 77.39M
Net income applicable to common shares 81.39M 54.58M 46.78M 38.82M 32.37M
Preferred stock and other adjustments - - - - -
Breakdown 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Type yearly yearly yearly yearly yearly
Date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets 2815.25M 2794.71M 2747.68M 2520.01M 2088.43M
Intangible assets 206.93M 222.73M 241.94M 222.26M 165.28M
Earning assets - - - - -
Other current assets 84.67M - - 47.16M 37.39M
Total liab 1506.92M 1617.67M 1567.89M 1412.52M 1192.10M
Total stockholder equity 625.90M 551.87M 540.96M 502.73M 421.64M
Deferred long term liab - - - - -
Other current liab 326.45M 376.23M 334.25M 303.68M 260.29M
Common stock 4.35M 4.35M 4.34M 4.34M 4.34M
Capital stock 4.35M 4.35M 4.34M 4.34M 4.34M
Retained earnings 475.22M 419.45M 358.31M 324.36M 285.15M
Other liab - 113.81M 174.08M 157.06M 110.37M
Good will 936.58M 926.16M 932.85M 872.42M 724.19M
Other assets 0.00000M 42.22M 70.04M 62.62M 61.07M
Cash 452.36M 544.34M 485.39M 501.63M 369.04M
Cash and equivalents - - - - -
Total current liabilities 987.83M 1002.85M 944.69M 779.80M 671.29M
Current deferred revenue 137.64M 132.73M 140.66M 128.90M 93.51M
Net debt 217.63M 228.33M 227.52M 166.91M 234.45M
Short term debt 265.09M 271.67M 263.79M 193.96M 192.33M
Short long term debt 218.86M 226.20M 222.14M 161.90M 156.66M
Short long term debt total 669.99M 772.67M 712.91M 668.54M 603.49M
Other stockholder equity 157.36M 145.10M 152.79M 148.52M 120.48M
Property plant equipment - 172.31M 172.72M 173.59M 147.19M
Total current assets 1376.27M 1372.99M 1301.23M 1160.89M 965.78M
Long term investments 45.23M 20.64M 28.90M 28.48M 48.23M
Net tangible assets - -594.92600M -633.83000M -591.48600M -467.83300M
Short term investments 76.22M 24.71M 27.07M 31.53M 36.49M
Net receivables 721.01M 768.75M 768.65M 603.75M 553.10M
Long term debt 322.43M 421.51M 364.28M 383.39M 337.47M
Inventory 42.01M 35.18M 20.12M 23.99M 7.16M
Accounts payable 258.65M 222.23M 205.99M 153.26M 125.16M
Total permanent equity - - - - -
Noncontrolling interest in consolidated entity - - - - -
Temporary equity redeemable noncontrolling interests - - - - -
Accumulated other comprehensive income -11.03100M -17.03000M 25.52M 25.51M 11.68M
Additional paid in capital - - - - -
Common stock total equity - - - 4.34M 4.34M
Preferred stock total equity - - - - -
Retained earnings total equity - - - - -
Treasury stock - - - - -0.25900M
Accumulated amortization - - - - -
Non currrent assets other 52.53M 39.75M 23.68M 22.70M 21.49M
Deferred long term asset charges - - - - -
Non current assets total 1438.98M 1421.72M 1446.45M 1359.12M 1122.65M
Capital lease obligations 128.70M 124.96M 126.49M 123.25M 109.36M
Long term debt total - - - - 411.16M
Breakdown 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Type yearly yearly yearly yearly yearly
Date 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Investments -74.29500M 4.22M -14.67600M -108.21500M -90.45200M
Change to liabilities 0.00000M 49.36M 15.24M -12.35200M 22.96M
Total cashflows from investing activities - -110.19200M -177.03200M -108.21500M -90.45200M
Net borrowings - -26.87000M -21.49200M 63.16M 55.61M
Total cash from financing activities -70.98100M -114.13000M 9.73M 6.01M 40.97M
Change to operating activities - 27.76M 43.59M 18.63M 7.01M
Net income 199.67M 141.90M 114.02M 94.42M 77.39M
Change in cash 58.95M -16.25800M 132.98M 100.17M 22.55M
Begin period cash flow 485.39M 501.65M 368.67M 268.49M 245.95M
End period cash flow 544.34M 485.39M 501.65M 368.67M 268.49M
Total cash from operating activities 239.14M 208.48M 286.94M 196.08M 82.59M
Issuance of capital stock 0.00000M 0.00000M 108.74M 0.00000M 25.40M
Depreciation 115.31M 122.18M 95.51M 86.93M 48.73M
Other cashflows from investing activities - -0.16100M 16.23M -23.88600M 0.36M
Dividends paid -21.77800M -22.08100M -14.93900M -12.96600M 5.01M
Change to inventory -13.75600M 4.64M -10.96600M -0.93800M -1.02400M
Change to account receivables -51.39800M -150.81800M 23.31M 16.27M -66.06900M
Sale purchase of stock - - 156.68M -5.57900M 130.04M
Other cashflows from financing activities 148.81M 84.08M -67.87900M 160.46M -36.23700M
Change to netincome - 100.77M 73.48M 48.73M 38.61M
Capital expenditures 39.31M 31.06M 28.81M 36.59M 20.63M
Change receivables - - - - -
Cash flows other operating - - - - -
Exchange rate changes - - - - -
Cash and cash equivalents changes - - - - -
Change in working capital -21.32300M -69.05600M 71.18M 21.60M -37.11700M
Stock based compensation 14.95M 14.77M 7.78M 3.87M 3.98M
Other non cash items -51.32500M 6.68M 4.81M 2.40M -4.65500M
Free cash flow 199.82M 177.42M 258.13M 159.50M 61.96M

Peer Comparison

Sector: Technology Industry: Information Technology Services

Company Change (USD) Price (USD) Trailing PE (x) Forward PE (x) Price Sales TTM (x) Price to Book Value (x) Enterprise Value to Revenue (x) Enterprise Value to EBITDA (x)
FORTY
Formula Systems 1985 Ltd ADR		 -0.49 0.54% 89.45 18.67 - 0.46 2.08 0.54 5.97
ACN
Accenture plc		 -4.035 1.31% 304.50 31.75 28.09 3.49 7.94 3.45 20.00
IBM
International Business Machines		 -2.7511 1.12% 243.46 32.79 20.83 3.32 8.50 4.06 20.10
FI
Fiserv, Inc.		 -3.43 1.56% 215.75 28.20 15.58 4.24 2.70 5.45 13.13
INFY
Infosys Ltd ADR		 -0.525 2.81% 18.14 25.55 22.78 4.20 8.01 4.10 15.87

Reports Covered

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Profile

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data. It also provides customer relations management, computer systems management infrastructures, web world content management, database and data warehouse mining, application integration, database and systems, data management, and software development tools; and application and professional training courses, and advanced professional studies. In addition, the company offers property and casualty insurance platforms, such as Sapiens, Sapiens CoreSuite, Sapiens IDITSuite, and IDIT Go; life, pension, and annuities platforms, including Sapiens, Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster; Sapiens Cloud-based DigitalSuite; data and analytics platform; and reinsurance software solutions comprising Sapiens ReinsuranceMaster, Sapiens ReinsurancePro, and Sapiens Reinsurance GO. Further, it provides Sapiens workers' compensation solutions; Sapiens medical professional liability solutions; financial and compliance solutions, such as Sapiens FinancialPro, Sapiens Financial GO, Sapiens StatementPro, Sapiens CheckPro, and Sapiens Reporting Tools; Sapiens Decision; 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. The company was incorporated in 1985 and is headquartered in Or Yehuda, Israel.

Formula Systems 1985 Ltd ADR

5 HaPlada Street, Or Yehuda, Israel, 6021805

Key Executives

Name Title Year Born
Mr. Guy Bernstein Chief Exec. Officer 1968
Mr. Asaf Berenstin Chief Financial Officer 1978
Ms. Maya Solomon-Ella Chief Operational Officer 1978
Mr. Guy Bernstein Chief Executive Officer 1968

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