Formula Systems (1985) Ltd. (FORTY) Income Statement Analysis

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Complete financial analysis of Formula Systems (1985) Ltd. (FORTY) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Formula Systems (1985) Ltd., a leading company in the Information Technology Services industry within the Technology sector.

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Formula Systems (1985) Ltd. (FORTY)

Industry: Information Technology Services

Sector: Technology

Website: https://www.formulasystems.com

About Formula Systems (1985) Ltd.

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, and computer infrastructure and integration solutions worldwide. The company offers computer and telecommunication infrastructure solutions; computer solutions to computer and communications infrastructures; cloud computing solutions; and database and big data services. It also provides customer relations management, computer systems management infrastructures, web world content management, database and data warehouse mining, application integration, database and system, data management, and software development tools; and professional training courses and advanced professional studies. In addition, it markets and sells computers and peripheral equipment to business customers; offers property and casualty insurance platforms, such as Sapiens, Sapiens CoreSuite, Sapiens IDITSuite, Sapiens PolicyPro, Sapiens BillingPro, Sapiens ClaimsPro, e-Tica, and Tia Enterprise; life, pension, and annuities platforms, including Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster; reinsurance software solutions comprising Sapiens ReinsuranceMaster, Sapiens ReinsurancePro, and Sapiens Reinsurance GO; and Sapiens platform for workers' compensation solutions. Further, the company provides financial and compliance solutions that include Sapiens FinancialPro, Sapiens Financial GO, and Sapiens StatementPro; Sapiens DECISION, a decision management platform; 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. Formula Systems (1985) Ltd. was incorporated in 1985 and is headquartered in Or Yehuda, Israel.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998
Revenue	2.62B	2.57B	2.41B	1.93B	1.70B	1.49B	1.36B	1.11B	798.80M	636.42M	796.67M	744.73M	640.62M	549.69M	469.39M	590.81M	493.35M	492.74M	506.37M	456.61M	366.83M	283.31M	376.92M	405.74M	335.49M	258.80M
Cost of Revenue	1.98B	1.95B	1.84B	1.49B	1.32B	1.16B	1.06B	849.84M	630.15M	530.08M	603.08M	564.80M	492.89M	412.46M	352.28M	452.26M	369.11M	340.05M	333.54M	284.96M	230.50M	186.91M	253.59M	244.52M	178.98M	155.00M
Gross Profit	643.71M	622.47M	563.86M	447.43M	386.05M	333.31M	296.82M	258.78M	168.65M	106.33M	193.59M	179.93M	147.73M	137.23M	117.11M	138.54M	124.24M	152.69M	172.84M	171.65M	136.33M	96.40M	123.33M	161.21M	156.52M	103.80M
Gross Profit Ratio	24.56%	24.20%	23.44%	23.14%	22.69%	22.33%	21.90%	23.34%	21.11%	16.71%	24.30%	24.16%	23.06%	24.96%	24.95%	23.45%	25.18%	30.99%	34.13%	37.59%	37.16%	34.03%	32.72%	39.73%	46.65%	40.11%
Research & Development	77.97M	72.13M	65.86M	52.60M	46.69M	41.22M	39.85M	22.33M	10.24M	787.00K	14.17M	12.35M	5.15M	5.50M	4.43M	6.56M	6.55M	16.39M	22.43M	25.04M	17.37M	15.97M	21.09M	18.15M	12.94M	8.40M
General & Administrative	309.42M	225.82M	211.18M	0.00	0.00	182.47M	184.42M	94.72M	39.86M	110.76M	117.88M	110.76M	93.34M	84.51M	77.32M	0.00	0.00	0.00	0.00	128.54M	107.10M	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	16.96M	19.41M	15.60M	0.00	0.00	0.00	-817.00K	53.23M	23.06M	-40.24M	14.00K	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	326.38M	317.96M	289.99M	224.19M	200.87M	182.47M	183.61M	147.95M	103.90M	70.52M	117.89M	110.76M	93.34M	84.51M	77.32M	98.61M	90.46M	113.66M	133.05M	128.54M	107.10M	85.29M	129.80M	127.82M	92.77M	57.90M
Other Expenses	0.00	0.00	0.00	0.00	0.00	0.00	-308.00K	14.84M	-2.75M	-11.57M	14.00K	-152.00K	-207.00K	231.00K	-1.97M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	18.49M	12.00M
Operating Expenses	404.34M	390.09M	355.84M	276.79M	247.56M	223.70M	223.15M	170.28M	114.14M	71.30M	132.06M	122.93M	98.49M	90.24M	81.75M	105.17M	97.01M	130.05M	155.48M	153.57M	124.47M	101.26M	150.89M	145.97M	124.21M	78.30M
Cost & Expenses	2.38B	2.34B	2.20B	1.76B	1.56B	1.38B	1.28B	1.02B	744.28M	601.38M	735.14M	687.74M	591.37M	502.71M	434.04M	557.43M	466.12M	470.10M	489.01M	438.53M	354.97M	288.17M	404.48M	390.49M	303.18M	233.30M
Interest Income	13.80M	5.82M	2.65M	2.56M	3.04M	6.73M	8.61M	5.14M	0.00	0.00	983.00K	6.93M	1.03M	1.06M	4.16M	8.97M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	38.37M	19.93M	24.01M	26.89M	18.65M	8.26M	22.86M	11.59M	2.37M	5.77M	6.24M	0.00	6.62M	7.56M	8.57M	13.50M	3.81M	15.33M	23.12M	14.04M	3.68M	0.00	0.00	0.00	0.00	4.90M
Depreciation & Amortization	121.83M	115.31M	122.18M	95.51M	86.93M	48.73M	43.65M	32.37M	17.56M	8.96M	24.35M	25.65M	14.36M	17.18M	14.61M	13.08M	15.81M	44.95M	25.26M	20.79M	19.00M	13.34M	68.38M	-50.40M	18.49M	12.00M
EBITDA	371.23M	396.96M	332.65M	264.97M	228.15M	158.35M	117.80M	88.50M	104.62M	47.79M	87.06M	82.20M	63.93M	65.62M	59.97M	53.03M	43.04M	67.58M	37.44M	52.37M	11.86M	8.48M	-13.18M	-37.62M	50.80M	37.50M
EBITDA Ratio	14.16%	9.03%	8.65%	8.82%	8.14%	7.34%	5.44%	7.98%	6.82%	5.51%	7.72%	7.65%	7.65%	11.87%	7.18%	9.34%	8.46%	13.62%	7.86%	6.40%	7.69%	2.73%	27.33%	-9.27%	-0.26%	9.00%
Operating Income	239.37M	276.64M	85.83M	75.13M	51.56M	109.62M	73.67M	88.50M	54.51M	35.04M	61.54M	57.00M	49.24M	46.99M	35.36M	33.37M	27.24M	19.48M	15.90M	18.08M	11.86M	-6.69M	-38.43M	12.78M	32.31M	25.50M
Operating Income Ratio	9.13%	10.75%	3.57%	3.89%	3.03%	7.34%	5.44%	7.98%	6.82%	5.51%	7.72%	7.65%	7.69%	8.55%	7.53%	5.65%	5.52%	3.95%	3.14%	3.96%	3.23%	-2.36%	-10.20%	3.15%	9.63%	9.85%
Total Other Income/Expenses	-28.33M	-19.93M	-24.01M	-26.89M	-18.65M	-8.29M	-20.00M	-11.59M	-9.53M	-4.87M	-5.44M	-2.93M	-6.50M	-4.37M	1.44M	-7.75M	-2.52M	-11.43M	-146.00K	-343.00K	-1.01M	6.17M	-52.13M	41.46M	33.26M	5.60M
Income Before Tax	211.03M	256.71M	184.01M	143.76M	119.84M	101.36M	50.81M	76.91M	46.66M	30.17M	55.30M	50.32M	42.95M	42.62M	36.79M	26.45M	24.71M	14.32M	9.98M	17.73M	10.85M	-513.00K	-52.02M	54.24M	65.58M	31.10M
Income Before Tax Ratio	8.05%	9.98%	7.65%	7.43%	7.04%	6.79%	3.75%	6.94%	5.84%	4.74%	6.94%	6.76%	6.70%	7.75%	7.84%	4.48%	5.01%	2.91%	1.97%	3.88%	2.96%	-0.18%	-13.80%	13.37%	19.55%	12.02%
Income Tax Expense	46.08M	55.24M	42.61M	31.27M	27.20M	24.34M	13.37M	21.16M	11.87M	10.07M	8.93M	6.58M	5.69M	6.54M	8.31M	3.54M	1.93M	3.50M	5.20M	4.63M	2.54M	2.01M	4.06M	14.22M	19.39M	4.50M
Net Income	64.01M	201.48M	141.40M	112.49M	92.64M	32.21M	11.18M	22.45M	19.32M	75.06M	76.89M	24.03M	42.96M	18.38M	19.08M	11.87M	37.26M	10.02M	183.00K	8.10M	3.12M	-2.41M	-56.08M	40.02M	46.19M	26.60M
Net Income Ratio	2.44%	7.83%	5.88%	5.82%	5.45%	2.16%	0.83%	2.02%	2.42%	11.79%	9.65%	3.23%	6.71%	3.34%	4.06%	2.01%	7.55%	2.03%	0.04%	1.77%	0.85%	-0.85%	-14.88%	9.86%	13.77%	10.28%
EPS	4.17	13.17	9.25	7.36	6.10	2.13	0.78	1.58	1.38	5.38	5.57	1.78	3.17	1.37	1.44	0.88	2.82	0.80	0.01	0.73	0.29	-0.24	-6.01	4.27	4.93	3.12
EPS Diluted	4.12	13.00	9.18	7.36	6.04	2.07	0.74	1.49	1.31	5.19	5.38	1.72	3.11	1.36	1.40	0.88	2.79	0.73	0.01	0.65	0.24	-0.24	-6.01	4.27	4.93	3.12
Weighted Avg Shares Out	15.30M	15.30M	15.29M	15.29M	15.19M	15.10M	14.36M	14.21M	14.07M	13.93M	13.79M	13.60M	13.51M	13.38M	13.20M	13.20M	13.20M	13.20M	12.80M	10.80M	10.04M	10.17M	9.33M	9.32M	9.38M	8.53M
Weighted Avg Shares Out (Dil)	15.50M	15.50M	15.40M	15.29M	15.34M	15.57M	14.72M	15.53M	14.74M	14.41M	14.19M	13.79M	13.67M	13.52M	13.56M	13.20M	13.20M	13.30M	12.80M	10.80M	10.29M	10.17M	9.33M	9.32M	9.38M	8.53M

Formula Systems Reports Second Quarter 2021 Financial Results: Record-Breaking Results with Double Digit Growth Across All Key Financial Indices

August 19, 2021globenewswire.com

OR YEHUDA, Israel, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Formula Systems (1985) Ltd. (NASDAQ: FORTY), a global information technology holding company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software...

Formula Systems Reports First Quarter 2021 Financial Results: Record-Breaking Results With Double Digit Growth Across All Key Financial Indices

May 20, 2021globenewswire.com

OR YEHUDA, Israel, May 20, 2021 (GLOBE NEWSWIRE) -- Formula Systems (1985) Ltd. (NASDAQ: FORTY), a global information technology holding company engaged, through its subsidiaries and affiliates, in providing software consulting services and computer-based business solutions and developing proprietary software...

Formula Systems Reports Fourth Quarter and full year 2020 Financial Results with Annual Net Income of $46.8 million, a 20% growth year over year

March 17, 2021globenewswire.com

The results for the fourth quarter and for the full year 2020 reflect double digit growth in revenues, gross profit, operating income and net income. The results for the fourth quarter and for the full year 2020 reflect double digit...

Sapiens Reports Q4 and Full Year 2020 Financial Results

February 25, 2021prnewswire.com

HOLON, Israel, Feb. 25, 2021 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, and a member of the Formula Group (NASDAQ: FORTY) (TASE: FORT), today announced its financial...

Formula Systems Reports Third Quarter 2020 Financial Results

November 18, 2020globenewswire.com

Operating income for the third quarter increased by 23% year-over-year to a record breaking $45.4 million. Net income attributable to Formula's Shareholders for the third quarter increased by 29% year-over-year to a record breaking $12.6 million.

Sapiens Reports Third Quarter 2020 Financial Results

November 5, 2020prnewswire.com

HOLON, Israel, Nov. 5, 2020 /PRNewswire/ -- Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, and a member of the Formula Group (NASDAQ: FORTY) (TASE: FORT), today announced its financial...