Magic Software Enterprises Ltd. (MGIC) Income Statement Analysis

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

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Magic Software Enterprises Ltd. (MGIC)

Industry: Information Technology Services

Sector: Technology

Website: https://www.magicsoftware.com

About Magic Software Enterprises Ltd.

Magic Software Enterprises Ltd. provides proprietary application development, business process integration, vertical software solutions, and information technologies (IT) outsourcing software services in Israel and internationally. The company's Software Services segment develops, markets, sells, and supports application platform, software applications, and business and process integration solutions and related services. Its IT Professional Services segment offers IT services in the areas of infrastructure design and delivery, application development, technology planning and implementation services, communications services and solutions, and supplemental outsourcing services. The company offers proprietary application platforms, such as Magic xpa for developing and deploying business applications; AppBuilder for building, deploying, and maintaining high-end and mainframe-grade business applications; Magic xpi for application integration; FactoryEye for virtualization of production data; BusinessEye for organizational business intelligence; and Magic SmartUX for cross-platform mobile business applications. It also provides vertical software solutions comprising Clicks, a software solution for healthcare providers; Leap, a software solution for business support systems; Hermes Cargo, a packaged software solution for managing air cargo ground handling; HR Pulse, a single-tenant software as a service tool; MBS Solution, a system for managing TV broadcast management; Nativ, a system for management of rehabilitation centers; and Mobisale, a system for sales and distribution field activities for consumer goods manufacturers and wholesalers. In addition, the company provides software maintenance, support, training, and consulting services. The company was formerly known as Mashov Software Export (1983) Ltd. and changed its name to Magic Software Enterprises Ltd. in 1991. Magic Software Enterprises Ltd. was incorporated in 1983 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	1997	1996	1995	1994	1993	1992	1991
Revenue	535.05M	566.79M	480.33M	371.19M	325.63M	284.38M	257.99M	201.65M	176.03M	164.30M	144.96M	126.38M	113.33M	88.58M	55.35M	61.98M	58.43M	61.73M	60.99M	65.17M	63.39M	60.00M	76.56M	90.26M	63.99M	38.80M	37.40M	36.40M	25.40M	21.40M	16.90M	10.00M	5.40M
Cost of Revenue	382.07M	411.44M	347.33M	261.60M	223.50M	195.56M	175.16M	133.28M	113.22M	99.73M	85.89M	73.39M	67.26M	51.45M	26.26M	27.14M	27.34M	28.72M	26.68M	25.48M	24.14M	28.99M	36.54M	33.86M	15.27M	12.50M	12.10M	9.30M	4.50M	3.50M	2.00M	1.20M	500.00K
Gross Profit	152.99M	155.36M	132.99M	109.59M	102.13M	88.82M	82.83M	68.36M	62.81M	64.58M	59.07M	52.99M	46.07M	37.13M	29.09M	34.84M	31.09M	33.01M	34.31M	39.69M	39.25M	31.01M	40.02M	56.40M	48.72M	26.30M	25.30M	27.10M	20.90M	17.90M	14.90M	8.80M	4.90M
Gross Profit Ratio	28.59%	27.41%	27.69%	29.52%	31.36%	31.23%	32.11%	33.90%	35.68%	39.30%	40.75%	41.93%	40.65%	41.92%	52.55%	56.21%	53.21%	53.47%	56.26%	60.90%	61.92%	51.68%	52.27%	62.49%	76.14%	67.78%	67.65%	74.45%	82.28%	83.64%	88.17%	88.00%	90.74%
Research & Development	10.33M	10.09M	9.00M	8.79M	8.24M	5.70M	6.94M	5.84M	4.89M	4.75M	3.71M	2.95M	2.05M	2.07M	1.31M	2.35M	2.72M	3.94M	3.73M	3.85M	4.78M	5.34M	7.55M	5.95M	2.95M	2.80M	3.30M	2.60M	0.00	0.00	0.00	0.00	0.00
General & Administrative	40.81M	70.97M	32.11M	27.97M	29.78M	24.23M	22.84M	17.56M	13.43M	14.52M	13.17M	10.64M	9.16M	8.19M	8.21M	10.87M	27.09M	32.35M	34.84M	32.54M	30.81M	30.69M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling & Marketing	44.50M	13.44M	38.15M	31.16M	30.45M	27.20M	27.24M	23.78M	23.06M	24.58M	23.07M	22.99M	20.15M	17.53M	15.31M	17.36M	0.00	0.00	0.00	0.00	15.14M	13.76M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	85.31M	83.95M	70.26M	59.13M	60.24M	51.42M	49.59M	40.84M	36.49M	37.55M	36.23M	33.63M	29.31M	25.72M	23.52M	28.22M	27.09M	32.35M	34.84M	32.54M	30.81M	30.69M	46.60M	47.46M	31.18M	23.90M	23.60M	20.10M	20.00M	16.60M	11.50M	7.00M	3.70M
Other Expenses	240.00K	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.00K	-67.00K	-12.00K	136.00K	125.00K	159.00K	-1.97M	0.00	0.00	0.00	0.00	0.00	0.00	1.12M	20.08M	0.00	3.52M	2.80M	2.60M	1.90M	1.20M	1.30M	700.00K	400.00K	100.00K
Operating Expenses	95.88M	94.04M	79.25M	67.92M	68.48M	57.12M	56.53M	46.68M	41.38M	42.30M	39.94M	36.58M	31.35M	27.79M	24.83M	30.57M	29.81M	36.29M	38.58M	36.39M	35.59M	36.03M	74.23M	53.41M	37.65M	29.50M	29.50M	24.60M	21.20M	17.90M	12.20M	7.40M	3.80M
Cost & Expenses	477.94M	505.48M	426.58M	329.52M	291.98M	252.68M	231.69M	179.96M	154.60M	142.03M	125.83M	109.97M	98.61M	79.24M	51.09M	57.71M	57.15M	65.01M	65.25M	61.87M	59.73M	65.02M	110.77M	87.26M	52.92M	42.00M	41.60M	33.90M	25.70M	21.40M	14.20M	8.60M	4.30M
Interest Income	4.90M	1.39M	113.00K	100.00K	212.00K	284.00K	284.00K	240.00K	231.00K	91.00K	46.00K	49.00K	464.00K	13.00K	482.00K	485.00K	0.00	0.00	0.00	912.00K	307.00K	958.00K	575.00K	2.42M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	9.23M	3.66M	3.16M	917.00K	385.00K	990.00K	1.19M	456.00K	0.00	308.00K	577.00K	28.00K	112.00K	173.00K	0.00	485.00K	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	0.00	0.00
Depreciation & Amortization	20.55M	19.80M	19.84M	13.94M	14.03M	12.56M	13.61M	11.61M	9.89M	8.66M	8.38M	7.44M	5.04M	4.55M	4.62M	3.62M	3.86M	5.52M	5.21M	4.60M	4.74M	4.50M	8.10M	6.42M	3.52M	2.80M	2.60M	1.90M	1.20M	1.30M	700.00K	400.00K	100.00K
EBITDA	82.27M	82.21M	74.47M	55.62M	47.93M	44.22M	39.57M	32.70M	31.32M	30.99M	27.51M	24.00M	20.10M	9.34M	11.07M	8.33M	1.28M	682.00K	-942.00K	3.30M	3.66M	-515.00K	-26.10M	9.41M	14.59M	-440.00K	-1.57M	4.40M	900.00K	1.30M	3.40M	1.80M	1.20M
EBITDA Ratio	15.38%	13.55%	14.24%	14.98%	14.64%	15.56%	15.60%	11.17%	12.18%	14.50%	13.19%	12.98%	12.88%	10.54%	4.05%	6.88%	8.20%	5.92%	-0.37%	12.12%	13.32%	1.01%	3.64%	13.91%	22.52%	5.93%	10.96%	12.09%	3.94%	11.68%	15.98%	13.00%	20.37%
Operating Income	57.11M	61.38M	51.24M	40.59M	33.65M	31.70M	25.96M	20.86M	21.43M	20.73M	19.13M	16.41M	14.72M	9.34M	4.26M	4.27M	1.28M	-5.44M	-4.26M	3.30M	3.66M	-6.14M	-40.82M	529.00K	11.08M	-3.20M	-4.20M	2.50M	-300.00K	-1.20M	2.70M	1.40M	1.10M
Operating Income Ratio	10.67%	10.83%	10.67%	10.93%	10.33%	11.15%	10.06%	10.34%	12.18%	12.61%	13.19%	12.98%	12.99%	10.54%	7.69%	6.88%	2.19%	-8.81%	-6.99%	5.07%	5.78%	-10.23%	-53.31%	0.59%	17.31%	-8.25%	-11.23%	6.87%	-1.18%	-5.61%	15.98%	14.00%	20.37%
Total Other Income/Expenses	-4.67M	-4.35M	-6.51M	-3.19M	-1.18M	149.00K	-1.71M	-430.00K	-677.00K	-1.85M	-696.00K	146.00K	346.00K	-65.00K	2.25M	448.00K	331.00K	-661.00K	358.00K	912.00K	265.00K	861.00K	-1.80M	914.00K	-167.00K	-2.96M	-5.80M	-600.00K	200.00K	-1.20M	700.00K	600.00K	0.00
Income Before Tax	52.44M	57.72M	45.26M	37.40M	32.47M	31.85M	24.25M	20.66M	20.76M	18.87M	18.43M	16.55M	15.06M	9.27M	6.51M	4.72M	1.61M	-4.75M	-3.90M	4.21M	3.93M	-5.28M	-42.62M	1.44M	10.91M	-6.20M	-10.00M	1.90M	-100.00K	-1.20M	3.40M	2.00M	1.10M
Income Before Tax Ratio	9.80%	10.18%	9.42%	10.08%	9.97%	11.20%	9.40%	10.24%	11.79%	11.49%	12.71%	13.10%	13.29%	10.47%	11.76%	7.61%	2.76%	-7.70%	-6.40%	6.47%	6.19%	-8.80%	-55.67%	1.60%	17.05%	-15.98%	-26.74%	5.22%	-0.39%	-5.61%	20.12%	20.00%	20.37%
Income Tax Expense	9.93M	11.20M	10.36M	7.29M	6.87M	7.07M	6.33M	3.95M	3.68M	2.31M	1.58M	94.00K	-203.00K	-102.00K	334.00K	199.00K	362.00K	325.00K	491.00K	281.00K	230.00K	384.00K	167.00K	523.00K	2.00K	100.00K	500.00K	500.00K	300.00K	200.00K	900.00K	700.00K	100.00K
Net Income	37.03M	40.47M	29.77M	25.19M	20.27M	19.88M	15.44M	14.17M	16.20M	15.40M	15.88M	16.18M	15.04M	9.38M	6.18M	4.51M	12.61M	-5.01M	-4.61M	4.09M	3.07M	-5.66M	-42.79M	920.00K	10.91M	-6.30M	-10.50M	1.40M	-400.00K	-1.40M	2.50M	1.30M	1.00M
Net Income Ratio	6.92%	7.14%	6.20%	6.79%	6.22%	6.99%	5.99%	7.03%	9.20%	9.37%	10.95%	12.81%	13.27%	10.58%	11.16%	7.27%	21.58%	-8.11%	-7.55%	6.28%	4.84%	-9.44%	-55.88%	1.02%	17.04%	-16.24%	-28.07%	3.85%	-1.57%	-6.54%	14.79%	13.00%	18.52%
EPS	0.75	0.82	0.61	0.49	0.41	0.43	0.35	0.27	0.37	0.36	0.43	0.44	0.41	0.29	0.19	0.14	0.40	-0.16	-0.15	0.13	0.10	-0.19	-1.44	0.03	0.45	-0.36	-0.72	0.10	-0.03	-0.11	0.22	0.12	0.13
EPS Diluted	0.75	0.82	0.61	0.49	0.41	0.42	0.35	0.27	0.36	0.36	0.43	0.44	0.41	0.29	0.19	0.14	0.39	-0.16	-0.15	0.13	0.10	-0.19	-1.44	0.03	0.45	-0.36	-0.72	0.10	-0.03	-0.11	0.22	0.12	0.13
Weighted Avg Shares Out	49.10M	49.09M	49.06M	49.03M	48.90M	46.67M	44.44M	44.35M	44.25M	43.29M	36.84M	36.50M	36.27M	32.14M	31.90M	31.77M	31.52M	31.29M	30.71M	31.46M	30.67M	29.81M	29.74M	30.67M	24.24M	17.57M	14.58M	14.00M	13.33M	12.73M	11.36M	10.83M	7.69M
Weighted Avg Shares Out (Dil)	49.10M	49.13M	49.10M	49.05M	48.99M	46.80M	44.60M	44.52M	44.45M	43.31M	37.29M	37.11M	37.05M	32.73M	32.11M	32.03M	32.33M	31.29M	30.71M	32.50M	30.67M	29.81M	29.74M	30.67M	25.36M	17.57M	14.58M	14.00M	13.33M	12.73M	11.36M	10.83M	7.69M

Magic Software (MGIC) Beats Q3 Earnings and Revenue Estimates

November 15, 2021zacks.com

Magic Software (MGIC) delivered earnings and revenue surprises of 14.29% and 6.97%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Magic Software Enterprises Ltd.'s (MGIC) CEO Guy Bernstein on Q3 2021 Results - Earnings Call Transcript

November 15, 2021seekingalpha.com

Magic Software Enterprises Ltd.'s (MGIC) CEO Guy Bernstein on Q3 2021 Results - Earnings Call Transcript

Magic Software (MGIC) to Report Q3 Results: Wall Street Expects Earnings Growth

November 8, 2021zacks.com

Magic Software (MGIC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

MGIC: Mortgage Insurer Gets The Excess Cash Flowing

October 31, 2021seekingalpha.com

MGIC: Mortgage Insurer Gets The Excess Cash Flowing

Magic Software Enterprises: Benefits From Durable M&A, Digitalization And Logistics Strength

September 12, 2021seekingalpha.com

As part of Asseco's Formula Systems assets, Magic Software has delivered soundly in their businesses with over 20% in organic revenue growth. With exposure to business transformation initiatives, related substantially to acquisition activity, Magic is likely to continue to deliver.

Magic Software Enterprises Ltd. (MGIC) CEO Guy Bernstein on Q2 2021 Results - Earnings Call Transcript

August 12, 2021seekingalpha.com

Magic Software Enterprises Ltd. (MGIC) CEO Guy Bernstein on Q2 2021 Results - Earnings Call Transcript

Magic Software (MGIC) Beats Q2 Earnings and Revenue Estimates

August 12, 2021zacks.com

Magic Software (MGIC) delivered earnings and revenue surprises of 9.52% and 11.20%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Magic Software Increases Over 9% Pre-Market: Why It Happened

August 12, 2021pulse2.com

The shares of Magic Software Enterprises Ltd. (NASDAQ: MGIC) increased by over 9% pre-market.

Magic Software Reports Second Quarter 2021 Financial Results with Record-Breaking Revenues for The Second Quarter of $119.2 million - a 37.7% Year Over Year Increase

August 12, 2021globenewswire.com

Operating Income for the second quarter increased 29% year over year to $12.7 million; Non-GAAP operating income for the second quarter increased 30% year over year to $15.9 million

Farmer Mac And MGIC - The Anti-Banks. Stereotyping Creates Opportunity.

July 5, 2021seekingalpha.com

Farmer Mac and MGIC trade very much with KRE, the Regional Banking Index ETF. Yet neither Farmer Mac nor MGIC are materially influenced by the banks' major driver, long-term interest rates.

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Magic Software Enterprises Ltd. (MGIC) Income Statement Analysis – Financial Results

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