FORT
Formula Systems 1985 Ltd ADR
NASDAQ: FORTY · TECHNOLOGY · INFORMATION TECHNOLOGY SERVICES
$132.48
+0.00% today
Updated 2026-04-29
Market cap
$2.09B
P/E ratio
59.00
P/S ratio
0.80x
EPS (TTM)
$2.31
Dividend yield
1.86%
52W range
$91 – $190
Volume
0.0M
Formula Systems 1985 Ltd ADR (FORTY) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $492.74M | $493.35M | $590.81M | $469.39M | $549.69M | $640.62M | $744.73M | $796.67M | $636.42M | $798.80M | $1.11B | $1.36B | $1.49B | $1.70B | $1.93B | $2.41B | $2.57B | $2.62B | $2.76B | $2.65B |
| Revenue growth (YoY) | — | +0.1% | +19.8% | -20.6% | +17.1% | +16.5% | +16.3% | +7.0% | -20.1% | +25.5% | +38.8% | +22.2% | +10.2% | +13.9% | +13.7% | +24.4% | +6.9% | +1.9% | +5.2% | -4.0% |
| Cost of revenue | $340.05M | $369.11M | $452.26M | $352.28M | $412.46M | $492.89M | $564.80M | $603.08M | $530.08M | $630.15M | $849.84M | $1.06B | $1.16B | $1.32B | $1.49B | $1.84B | $1.95B | $1.98B | $2.07B | $2.12B |
| Gross profit | $152.69M | $124.24M | $138.54M | $117.11M | $137.23M | $147.73M | $179.93M | $193.59M | $106.33M | $168.65M | $258.78M | $296.82M | $333.31M | $386.05M | $447.43M | $563.86M | $622.47M | $643.71M | $684.03M | $523.28M |
| Gross margin | 31.0% | 25.2% | 23.4% | 24.9% | 25.0% | 23.1% | 24.2% | 24.3% | 16.7% | 21.1% | 23.3% | 21.9% | 22.3% | 22.7% | 23.1% | 23.4% | 24.2% | 24.6% | 24.8% | 19.8% |
| R&D | $16.39M | $6.55M | $6.56M | $4.43M | $5.50M | $5.15M | $12.35M | $14.17M | $787000.00 | $10.23M | $22.33M | $39.85M | $41.22M | $46.69M | $52.60M | $65.86M | $72.13M | $77.97M | $83.73M | $20.18M |
| SG&A | $130.05M | $97.00M | $105.17M | $77.32M | $84.51M | $93.34M | $110.76M | $117.88M | $110.76M | $39.86M | $94.72M | $184.42M | $182.47M | $200.87M | $224.19M | $211.18M | $225.82M | $309.42M | $319.09M | $311.99M |
| Operating income | $19.48M | $27.23M | $33.37M | $35.35M | $46.99M | $49.24M | $56.99M | $61.53M | $35.03M | $54.51M | $88.50M | $73.67M | $109.62M | $51.56M | $170.64M | $208.02M | $276.64M | $239.37M | $270.52M | $188.64M |
| Operating margin | 4.0% | 5.5% | 5.6% | 7.5% | 8.5% | 7.7% | 7.7% | 7.7% | 5.5% | 6.8% | 8.0% | 5.4% | 7.3% | 3.0% | 8.8% | 8.6% | 10.8% | 9.1% | 9.8% | 7.1% |
| EBITDA | $67.58M | $43.04M | $53.03M | $59.97M | $65.62M | $63.93M | $82.64M | $85.88M | $44.00M | $72.08M | $120.87M | $117.32M | $158.35M | $228.15M | $264.97M | $332.65M | $396.96M | $371.23M | $386.02M | $188.64M |
| EBITDA margin | 13.7% | 8.7% | 9.0% | 12.8% | 11.9% | 10.0% | 11.1% | 10.8% | 6.9% | 9.0% | 10.9% | 8.7% | 10.6% | 13.4% | 13.7% | 13.8% | 15.4% | 14.2% | 14.0% | 7.1% |
| EBIT | $22.64M | $27.23M | $39.94M | $45.36M | $48.44M | $49.57M | $56.99M | $61.53M | $35.03M | $54.51M | $88.50M | $73.67M | $109.62M | $141.22M | $169.46M | $210.47M | $281.65M | $249.40M | $270.52M | — |
| Interest expense | $15.33M | $3.81M | $13.50M | $8.57M | $7.56M | $6.62M | $6.67M | $6.24M | $4.87M | $7.85M | $11.59M | $22.86M | $8.26M | $21.38M | $25.71M | $26.45M | $24.94M | $38.37M | $22.14M | $50.38M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $10.02M | $37.26M | $11.87M | $19.08M | $18.38M | $42.96M | $24.03M | $76.89M | $75.06M | $19.32M | $22.45M | $11.18M | $32.20M | $92.64M | $46.78M | $54.59M | $81.39M | $64.01M | $79.67M | $611.29M |
| Net income growth (YoY) | — | +272.0% | -68.1% | +60.7% | -3.7% | +133.8% | -44.1% | +220.0% | -2.4% | -74.3% | +16.2% | -50.2% | +188.0% | +187.6% | -49.5% | +16.7% | +49.1% | -21.4% | +24.5% | +667.3% |
| Profit margin | 2.0% | 7.6% | 2.0% | 4.1% | 3.3% | 6.7% | 3.2% | 9.7% | 11.8% | 2.4% | 2.0% | 0.8% | 2.2% | 5.4% | 2.4% | 2.3% | 3.2% | 2.4% | 2.9% | 23.1% |