FORTY

Formula Systems (1985) Ltd. [FORTY] Stock Forecast

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FORTY Stock Summary

In the News

08:51 29 Nov 2023 FORTY

Formula Systems Clocks 35% Revenue Growth In Q2

Formula Systems (1985) Ltd (NASDAQ: FORTY) reported second-quarter FY21 revenue growth of 34.5% year-on-year to $587.9 million. Segments: As of June 30, 2021, Formula held 48.9%, 43.9%, 45.5%, 100%, 50%, 90.1%, 80%, and 100% of the outstanding ordinary shares of Matrix IT Ltd.

06:21 29 Nov 2023 FORTY

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

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 products, today announced its results for the second quarter and six months-period ended June 30, 2021.

07:57 29 Nov 2023 FORTY

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

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 products, today announced its results for the first quarter ended March 31, 2021.

10:46 29 Nov 2023 FORTY

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

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 growth in revenues, gross profit, operating income and net income.

06:37 29 Nov 2023 FORTY

Sapiens Reports Q4 and Full Year 2020 Financial Results

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 results...

06:44 29 Nov 2023 FORTY

Formula Systems Reports Third Quarter 2020 Financial Results

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.

10:23 29 Nov 2023 FORTY

Formula Systems Reports Second Quarter and First Half 2020 Financial Results

Operating income for the second quarter increased 24% year-over-year to a record breaking $40.7 million. Net income attributable to Formula’s Shareholders for the second quarter increased 24% year-over-year to a record breaking $11.2 million.OR YEHUDA, Israel, Aug. 18, 2020 (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 products, today announced its results for the second quarter and six months-period ended June 30, 2020. Financial Highlights for the Second Quarter Ended June 30, 2020 * Consolidated revenues for the second quarter increased by 5.9% to $437.1 million. Revenues for the second quarter ended June 30, 2019 amounted to $412.6 million. * Consolidated operating income for the second quarter increased by 24.4% to a record breaking $40.7 million, with growth recorded across Formula’s entire investment portfolio. Consolidated operating income for the second quarter ended June 30, 2019 amounted to $32.7 million. * Consolidated net income attributable to Formula’s shareholders for the second quarter increased by 24.2% to a record breaking $11.2 million, or $0.73 per fully diluted share, compared to $9.0 million, or $0.59 per fully diluted share, for the second quarter ended June 30, 2019.Financial Highlights for the Six Months-Period Ended June 30, 2020 * Consolidated revenues for the first half ended June 30, 2020 increased by 12.4% to $903.3 million, with growth recorded across Formula’s entire investment portfolio. Revenues for the first half ended June 30, 2019 amounted to $803.9 million. * Consolidated operating income for the first half ended June 30, 2020 increased by 23.5% to $79.5 million, with growth recorded across Formula’s entire investment portfolio. Consolidated operating income for the first half ended June 30, 2019 amounted to $64.4 million. * Consolidated net income attributable to Formula’s shareholders for the first half ended June 30, 2020 was $22.3 million, or $1.44 per fully diluted share, compared to $19.1 million, or $1.17 per fully diluted share, in the same period last year, reflecting an increase of 16.6% year over year. * As of June 30, 2020 Formula held 49.0%, 47.7%, 45.5%, 100%, 50%, 90.09% and 80% of the outstanding ordinary shares of Matrix IT Ltd., Sapiens International Corporation N.V, Magic Software Enterprises Ltd., Michpal Micro Computers (1983) Ltd., TSG IT Advanced Systems Ltd., Insync Staffing Solutions, Inc., and Ofek Aerial Photography Ltd., respectively. * Consolidated cash and cash equivalents, bank deposits and investments in marketable securities totaled approximately $472.8 million as of June 30, 2020, compared to $405.2 million as of December 31, 2019. * Total equity as of June 30, 2020 was $914.6 million (representing 42.2% of the total consolidated balance sheet), compared to $896.3 million (representing 42.9% of the total consolidated balance sheet) as of December 31, 2019. Declaration of Dividend for the First Half of 2020 * Based on the Company’s semi-annual results, the Company’s board of directors declared a cash dividend in the amount of NIS 1.77 per share (approximately $0.52 per share) and in the aggregate amount of approximately NIS 27.1 million (approximately $8.0 million). * The dividend is payable on September 16, 2020 to all of the Company’s shareholders of record at the close of trading on the NASDAQ Global Select Market (or the Tel-Aviv Stock Exchange, as appropriate) on September 3, 2020.In accordance with Israeli tax law, the dividend is subject to withholding tax at source at the rate of 30% (if the recipient of the dividend is at the time of distribution or was at any time during the preceding 12-month period the holder of 10% or more of the Company's share capital) or 25% (for all other dividend recipients) of the dividend amount payable to each shareholder of record, subject to applicable exemptions.The dividend will be paid in New Israeli Shekel with respect to the ordinary shares of Formula Systems (1985) Ltd that are traded on the Tel Aviv Stock Exchange and the American Depositary Receipts of Formula Systems that are traded on the NASDAQ Global Select Market.Debentures CovenantsAs of June 30, 2020, Formula was in compliance with all of its financial covenants under the debenture series issued by Formula, based on the following achievements:Covenant 1 * Target equity attributable to Formula’s shareholders (excluding non-controlling interests): above $215 million. * Actual equity attributable to Formula’s shareholders is equal to $433.3 million.Covenant 2 * Target ratio of net financial indebtedness to net capitalization (in each case, as defined under the indenture for Formula’s Series A and C Secured Debentures): below 65%. * Actual ratio of net financial indebtedness to net capitalization is equal to 9.0%.Covenant 3 * Target ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four recent quarters): below 5. * Actual ratio of net financial indebtedness to EBITDA (based on the accumulated calculation for the four recent quarters) is equal to 0.38.Comments of ManagementCommenting on the results, Guy Bernstein, CEO of Formula Systems, said, “We are very pleased to continue the strong momentum of 2020 during the second quarter which was entirely impacted by the COVID-19 pandemic, and in addition included a prolonged period of lockdown in Israel during April 2020 and Passover holiday. Despite these challenges, we witnessed strong financial results recorded across our entire portfolio companies which we were able to achieve due to the perseverance and cost saving actions taken by all management teams across our entire portfolio. Formula Group has managed to successfully face the crisis, thanks to, among others, its financial strength, high cash balances, low leverage, business diversification, quick response and flexibility to accommodate changes, and especially its experienced management teams .We take great pride in the recent addition of two of our subsidiaries, Matrix IT Ltd. and Sapiens International Corporation N.V., to Tel-Aviv-35 index together with four other companies whose core activity is technology and innovation—the engine that drives the Israeli economy.“Matrix managed to deliver a double-digit growth in both net and operating income, overcoming the most challenging period of the last decade, while adapting to the new hybrid-work-environment model, combining office attendance with remote employment, increasing efficiencies and cost savings. Matrix is constantly working on preserving its business continuity and growth opportunities.”“Sapiens managed to increase its revenues by 17.0% year over year as a result of organic growth in North America and Europe. Non-GAAP operating income increased by 33.4%, year over year increasing operating margin by 220 base points to a record of 18.0%, primarily due to cost saving actions implemented in light of COVID-19. Despite the COVID-19 pandemic, Sapiens’ outlook has improved as a result of signing new deals and completing the acquisition of Delphi, positioning the company as a leader of the MLP market in North America. In addition, Sapiens has raised its 2020 revenue guidance from $368 - $377 million to the range of $376 - $381 million.”“Magic’s outlook for 2020 has also improved in spite of the COVID-19 pandemic due to an increased demand, from existing and new customers, for digital transformation projects, as COVID-19 pandemic forced organizations and their employees to adapt to the new forced reality and working environment. Magic plans to continue its efforts in maintaining and growing its strong financial position as a trusted advisor in the SMB market and a one-stop-shop for digital transformation, both organically and through acquisitions.”“Michpal continues to realize synergies and monetize on its busines model and on the market it operates in. Michpal’s revenues grew by 51% year over year fueled by the acquisition of Unique Software Enterprises Ltd. concluded in November 2019 and  is well positioned to continue helping its customers to adjust to the ever-changing governmental labor guidelines which are introduced in light of the COVID-19 pandemic.”"In July 2020, Shikun & Binui group won a tender published by the Israeli Ministry of Defense for establishing Kiryat HaModiin in the Israeli Negev. TSG IT Advanced Systems Ltd. will serve as the significant subcontractor of the project's ICT (Information Communication and Technology) contractor - Israel Aerospace Industries Ltd.As part of the project, TSG is expected to design, build, maintain and operate IT systems in Kiryat HaModiin. The duration of the engagement is approximately 26 years. The scope of TSG activities is estimated at NIS 1.5 billion for the entire duration of the contract. The win is not expected to significantly impact TSG's results of operations over the upcoming year.”“I am pleased to see that the steps taken across all our portfolio companies in order to endure the COVID-19 pandemic and emerge stronger and well positioned are paying off. We will continue to address the new market challenges and take all necessary steps in order to keep our employees safe and productive, implement cost savings and grow our business operations.”Stand-Alone Financial MeasuresThis press release presents, further below, certain stand-alone financial measures to reflect Formula’s stand-alone financial position in reference to its assets and liabilities as the parent company of the group. These financial measures are prepared consistent with the accounting principles applied in the consolidated financial statements of the group.

04:35 29 Nov 2023 FORTY

Formula Systems Files Annual Report On Form 20-F For The Year Ended December 31, 2019

Or Yehuda, Israel, June 29, 2020 -- Formula Systems (1985) Ltd. (NASDAQ: FORTY), a global information technology holding company engaged, through its subsidiaries and.

03:04 29 Nov 2023 FORTY

Stocks That Hit 52-Week Highs On Monday

10:37 29 Nov 2023 FORTY

Formula Systems Acquires 70% of Liram Financial Software, Terms Not Disclosed

FORTY Financial details

Company Rating
Strong Buy
Market Cap
980.64M
Income
143.1M
Revenue
2.6B
Book val./share
37.65
Cash/share
31.21
Dividend
1.25
Dividend %
2.11%
Employees
22.06K
Optionable
No
Shortable
Yes
Earnings
23 Nov 2023
P/E
7.74
Forward P/E
-
PEG
65.09
P/S
0.35
P/B
1.55
P/C
1.9
P/FCF
-
Quick Ratio
1.37
Current Ratio
1.41
Debt / Equity
1.27
LT Debt / Equity
0.38
-
-
EPS (TTM)
9.36
EPS next Y
-
EPS next Q
2.09
EPS this Y
42.38%
EPS next Y
-
EPS next 5Y
-
EPS last 5Y
43.29%
Revenue last 5Y
11.49%
Revenue Q/Q
-2.24%
EPS Q/Q
-59.42%
-
-
-
-
SMA20
3.8%
SMA50
-19.86%
SMA100
-20.16%
Inst Own
0.24%
Inst Trans
0.99%
ROA
4%
ROE
21%
ROC
0.11%
Gross Margin
25%
Oper. Margin
7%
Profit Margin
4%
Payout
-
Shs Outstand
15.3M
Shs Float
9.55M
-
-
-
-
Target Price
-
52W Range
55.97-84.97
52W High
-29.44%
52W Low
+7.76%
RSI
42.45
Rel Volume
2.66
Avg Volume
365
Volume
971
Perf Week
-0.17%
Perf Month
-7.36%
Perf Quarter
-12.89%
Perf Half Y
-14.6%
-
-
-
-
Beta
0.482
-
-
Volatility
0.2%, 2.77%
Prev Close
-0.8%
Price
59.27
Change
-0.8%

FORTY Financial Performance

Yearly Fundamentals Overview

Last date of statement is 2022-12-31

Metric History 2018-12-312019-12-312020-12-312021-12-31 2022-12-31
2.02K2.02K2.02K2.02K2.02K
Revenue per share
101.29111.99126.52157.33168.17
Net income per share
2.186.17.369.2513.17
Operating cash flow per share
5.612.9118.7713.6415.63
Free cash flow per share
4.210.516.8911.613.06
Cash per share
20.0626.734.8833.5237.2
Book value per share
24.9227.7632.8935.3836.08
Tangible book value per share
0.970.450.840.331.84
Share holders equity per share
24.9227.7632.8935.3836.08
Interest debt per share
26.4440.9645.4948.251.82
Market cap
525.35M1.04B1.31B1.9B1.08B
Enterprise value
637.94M1.27B1.47B2.12B1.31B
P/E ratio
16.3111.1911.6213.415.38
Price to sales ratio
0.350.610.680.790.42
POCF ratio
6.365.294.559.094.53
PFCF ratio
8.486.55.0610.685.43
P/B Ratio
1.432.462.63.51.96
PTB ratio
1.432.462.63.51.96
EV to sales
0.430.750.760.880.51
Enterprise value over EBITDA
5.829.188.6410.215.65
EV to operating cash flow
7.726.485.1410.185.49
EV to free cash flow
10.37.975.7111.976.57
Earnings yield
0.060.090.090.070.19
Free cash flow yield
0.120.150.20.090.18
Debt to equity
1.041.431.331.321.4
Debt to assets
0.230.290.270.260.28
Net debt to EBITDA
1.031.690.981.090.98
Current ratio
1.481.441.491.381.37
Interest coverage
13.282.762.793.5813.88
Income quality
1.072.082.521.471.2
Dividend Yield
0.010.010.010.010.02
Payout ratio
0.160.140.130.160.11
Sales general and administrative to revenue
0.120000
Research and developement to revenue
0.030.030.030.030.03
Intangibles to total assets
0.480.430.430.430.41
Capex to operating cash flow
-0.25-0.19-0.1-0.15-0.16
Capex to revenue
-0.01-0.02-0.01-0.01-0.02
Capex to depreciation
-0.42-0.42-0.3-0.25-0.34
Stock based compensation to revenue
0000.010.01
Graham number
3561.7273.7985.8103.4
ROIC
0.110.040.050.050.15
Return on tangible assets
0.040.080.080.090.12
Graham Net
-15.65-24.24-27.12-30.67-29.71
Working capital
254.97M294.49M381.09M356.54M370.14M
Tangible asset value
13.45M4.16M13.42M5M30.24M
Net current asset value
-78.38M-226.32M-251.62M-266.66M-244.69M
Invested capital
1.041.431.331.321.4
Average receivables
435.95M497.3M578.43M686.2M768.7M
Average payables
107.06M121.97M139.21M179.62M214.11M
Average inventory
3.59M5.52M15.57M22.05M27.65M
Days sales outstanding
107.94118.68113.95116.63109.08
Days payables outstanding
37.3934.7437.6340.8341.6
Days of inventory on hand
1.221.995.893.996.59
Receivables turnover
3.383.083.23.133.35
Payables turnover
9.7610.519.78.948.77
Inventory turnover
298.73183.7761.9791.5455.42
ROE
0.090.220.220.260.37
Capex per share
-1.4-2.41-1.88-2.03-2.57

Quarterly Fundamentals Overview

Last date of statement is 2023-06-30 for Q2

Metric History 2022-06-302022-09-302022-12-312023-03-31 2023-06-30
2.02K2.02K2.02K2.02K2.02K
Revenue per share
42.1441.641.4443.8242.83
Net income per share
4.862.712.772.761.11
Operating cash flow per share
00000
Free cash flow per share
00000
Cash per share
29.5233.2437.233.7831.21
Book value per share
35.3535.8636.0736.8937.65
Tangible book value per share
75.9374.861.8477.7980.23
Share holders equity per share
35.3535.8636.0736.8937.65
Interest debt per share
43.8550.7450.9649.3548.15
Market cap
1.42B1.26B1.08B1B1.14B
Enterprise value
1.67B1.56B1.31B1.3B1.49B
P/E ratio
4.777.596.45.9516.74
Price to sales ratio
2.21.981.711.51.74
POCF ratio
00000
PFCF ratio
00000
P/B Ratio
2.632.31.971.781.98
PTB ratio
2.632.31.971.781.98
EV to sales
2.62.452.071.952.27
Enterprise value over EBITDA
30.2627.1321.8221.4624.76
EV to operating cash flow
00000
EV to free cash flow
00000
Earnings yield
0.050.030.040.040.01
Free cash flow yield
00000
Debt to equity
1.231.411.41.331.27
Debt to assets
0.260.290.280.270.27
Net debt to EBITDA
4.615.233.794.945.75
Current ratio
1.321.41.371.351.4
Interest coverage
26.7917.754.84.8410.69
Income quality
00000
Dividend Yield
00000
Payout ratio
00000
Sales general and administrative to revenue
00000
Research and developement to revenue
0.030.030.030.030.03
Intangibles to total assets
0.440.420.410.410.42
Capex to operating cash flow
00000
Capex to revenue
00000
Capex to depreciation
00000
Stock based compensation to revenue
00000
Graham number
62.246.7847.4147.8630.7
ROIC
0.060.040.020.020.03
Return on tangible assets
0.050.030.030.030.01
Graham Net
-28.19-30.37-29.71-29.13-27.5
Working capital
294.69M367.37M370.14M351.99M367.41M
Tangible asset value
16.53M10.12M30.24M51.66M78.06M
Net current asset value
-231.06M-261.57M-244.69M-226.71M-207.39M
Invested capital
1.231.411.41.331.27
Average receivables
740.87M733.39M754.19M783.72M786.61M
Average payables
188.57M185.62M204.77M208.21M198.57M
Average inventory
35.12M36.41M35.62M36.9M39M
Days sales outstanding
101.53104.61109.15107.22106.36
Days payables outstanding
33.3934.9142.6734.3736.94
Days of inventory on hand
6.676.726.766.847.17
Receivables turnover
0.890.860.820.840.85
Payables turnover
2.72.582.112.622.44
Inventory turnover
13.4913.3913.3213.1612.56
ROE
0.140.080.080.070.03
Capex per share
00000

FORTY Frequently Asked Questions

What is Formula Systems (1985) Ltd. stock symbol ?

Formula Systems (1985) Ltd. is a IL stock and trading under the symbol FORTY

What is Formula Systems (1985) Ltd. stock quote today ?

Formula Systems (1985) Ltd. stock price is $59.27 today.

Is Formula Systems (1985) Ltd. stock public?

Yes, Formula Systems (1985) Ltd. is a publicly traded company.

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