Formula Systems (1985) Ltd. (FORTY) — Financial statements
Income statement, balance sheet, and cash flow for Formula Systems (1985) Ltd. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 2,648↓4.0% | 2,758↑5.2% | 2,621↑1.9% | 2,572↑6.9% | 2,406 | |
| Cost of Revenue | 2,125↑2.5% | 2,073↑4.9% | 1,977↑1.4% | 1,950↑5.9% | 1,842 | |
| Gross Profit | 523↓23.5% | 684↑6.3% | 644↑3.4% | 622↑10.4% | 564 | |
| Operating Expenses | ||||||
| R&D Expenses | 20↓75.9% | 84↑7.4% | 78↑8.1% | 72↑9.5% | 66 | |
| General & Administrative Expenses | 0.00↓100.0% | 319↑3.1% | 309↑37.0% | 226↑6.9% | 211 | |
| Selling & Marketing Expenses | 0.00↓100.0% | 16↓5.3% | 17↓12.6% | 19↑24.5% | 16 | |
| SG&A Expenses | 314↓6.2% | 335↑2.7% | 326↑2.6% | 318↑9.6% | 290 | |
| Other Expenses | 0.00↑100.0% | -5 | 0.00↑100.0% | -44↓4426100.0% | 0.00 | |
| Operating Expenses | 335↓19.2% | 414↑2.4% | 404↑16.9% | 346↓2.8% | 356 | |
| Total Costs & Expenses | 2,459↑198.7% | -2,492↓204.7% | 2,382↑3.7% | 2,296↑4.5% | 2,197 | |
| Operating Results | ||||||
| Operating Income | 189↓30.3% | 271↑13.0% | 239↓13.5% | 277↑33.0% | 208 | |
| Depreciation & Amortization | 0.00↓100.0% | 115↓5.2% | 122↑5.7% | 115↓5.6% | 122 | |
| EBITDA | 189↓51.1% | 386↑4.0% | 371↓6.5% | 397↑19.3% | 333 | |
| EBIT | 189↓30.3% | 271↑8.5% | 249↓11.5% | 282↑33.8% | 210 | |
| Interest & Other Income | ||||||
| Net Interest Income | -50↓127.5% | -22↑9.9% | -25↓28.5% | -19↑19.7% | -24 | |
| Interest Income | 0.00 | 0.00↓100.0% | 14↑137.1% | 6↑119.6% | 3 | |
| Interest Expense | 50↑127.5% | 22↓42.3% | 38↑53.8% | 25↓5.7% | 26 | |
| Non-Operating Income | 0.00↓100.0% | 5 | 0.00↓100.0% | 44↑1906.5% | -2 | |
| Other Income / Expenses | -37↓86.4% | -20↑27.2% | -28↓26.8% | -22↑7.5% | -24 | |
| Income Before Tax | 151↓39.6% | 250↑18.2% | 212↓16.9% | 255↑38.1% | 185 | |
| Income Tax Expense | 41↓28.0% | 57↑23.0% | 46↓16.6% | 55↑29.6% | 43 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 110↓43.0% | 194↑16.9% | 166↓17.0% | 200↑40.7% | 142 | |
| Net Income from Discontinued Operations | 574 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 611↑667.3% | 80↑24.5% | 64↓21.4% | 81↑49.1% | 55 | |
| Bottom-Line Net Income | 611↑667.3% | 80↑24.7% | 64↓20.9% | 81↑49.7% | 54 | |
| EPS (Basic) | 39.93↑666.4% | 5.21↑24.9% | 4.17↓21.5% | 5.31↑48.7% | 3.57 | |
| EPS (Diluted) | 38.72↑660.7% | 5.09↑23.5% | 4.12↓20.9% | 5.21↑48.9% | 3.50 | |
| Weighted Average Shares | 15↑0.0% | 15↑0.0% | 15↑0.0% | 15↑0.0% | 15 | |
| Weighted Average Diluted Shares | 16↑1.0% | 16↑0.9% | 15↓0.0% | 16↑0.6% | 15 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.