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Formula Systems (1985) Ltd. FORTY

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110.25 USD -8.96 (-7.52%)

At closeNov 5, 2026, 4:00 PM EST

106.50 -3.75 -3.40%

After hours · Nov 5, 4:00 PM ET

110.25 Day range 118.99
102.01 52-week range 190.56
YTD
-33.99%
1 year
-25.13%

Financial health

Altman Z-Score

1.83 Grey zone

Bankruptcy-risk model: below 1.81 distress, above 2.99 safe.

Piotroski F-Score

4 / 9 Average

Nine pass/fail tests of profitability, leverage and efficiency.

Rating

S-5 / 5 overall

  • DCF 5
  • Return on Equity 5
  • Return on Assets 5
  • Debt / Equity 2
  • P/E 4
  • P/B 5

Valuation

P/E 90.3×
FY 2016: 25.1×FY 2017: 52.0×FY 2018: 16.7×FY 2019: 11.2×FY 2020: 28.0×FY 2021: 34.7×FY 2022: 13.4×FY 2023: 15.7×FY 2024: 17.0×FY 2025: 90.3×
FY 2016 5y median 17.0× FY 2025
P/S 1.0×
FY 2016: 0.5×FY 2017: 0.4×FY 2018: 0.4×FY 2019: 0.6×FY 2020: 0.7×FY 2021: 0.8×FY 2022: 0.4×FY 2023: 0.4×FY 2024: 0.6×FY 2025: 1.0×
FY 2016 5y median 0.6× FY 2025
P/B 1.9×
FY 2016: 1.7×FY 2017: 1.6×FY 2018: 1.5×FY 2019: 2.5×FY 2020: 2.6×FY 2021: 3.5×FY 2022: 2.0×FY 2023: 1.6×FY 2024: 2.0×FY 2025: 1.9×
FY 2016 5y median 2.0× FY 2025
P/FCF 6.8×
FY 2016: 10.1×FY 2017: 9.4×FY 2018: 8.7×FY 2019: 6.5×FY 2020: 5.1×FY 2021: 10.7×FY 2022: 5.4×FY 2023: 3.8×FY 2024: 4.6×FY 2025: 6.8×
FY 2016 5y median 5.4× FY 2025
EV/EBITDA 5.5×
FY 2016: 6.6×FY 2017: 5.8×FY 2018: 4.1×FY 2019: 5.6×FY 2020: 5.6×FY 2021: 6.5×FY 2022: 3.4×FY 2023: 3.4×FY 2024: 5.2×FY 2025: 5.5×
FY 2016 5y median 5.2× FY 2025
EV/Sales 0.7×
FY 2016: 0.5×FY 2017: 0.5×FY 2018: 0.4×FY 2019: 0.7×FY 2020: 0.8×FY 2021: 0.9×FY 2022: 0.5×FY 2023: 0.5×FY 2024: 0.7×FY 2025: 0.7×
FY 2016 5y median 0.7× FY 2025
FCF Yield 14.7%
FY 2016: 9.9%FY 2017: 10.7%FY 2018: 11.5%FY 2019: 15.4%FY 2020: 19.8%FY 2021: 9.4%FY 2022: 18.4%FY 2023: 26.3%FY 2024: 21.7%FY 2025: 14.7%
FY 2016 5y median 18.4% FY 2025

Profitability

Gross Margin 17.0%
FY 2016: 23.3%FY 2017: 21.9%FY 2018: 22.3%FY 2019: 22.7%FY 2020: 23.1%FY 2021: 23.5%FY 2022: 24.2%FY 2023: 24.6%FY 2024: 18.0%FY 2025: 17.0%
FY 2016 5y median 23.5% FY 2025
Operating Margin 7.1%
FY 2016: 8.0%FY 2017: 5.4%FY 2018: 7.3%FY 2019: 3.0%FY 2020: 8.8%FY 2021: 8.7%FY 2022: 9.0%FY 2023: 9.1%FY 2024: 8.0%FY 2025: 7.1%
FY 2016 5y median 8.7% FY 2025
Net Margin 1.1%
FY 2016: 2.0%FY 2017: 0.8%FY 2018: 2.2%FY 2019: 5.4%FY 2020: 2.4%FY 2021: 2.3%FY 2022: 3.2%FY 2023: 2.4%FY 2024: 3.6%FY 2025: 1.1%
FY 2016 5y median 2.4% FY 2025
ROE 2.1%
FY 2016: 6.7%FY 2017: 3.1%FY 2018: 8.8%FY 2019: 22.0%FY 2020: 9.3%FY 2021: 10.1%FY 2022: 14.7%FY 2023: 10.2%FY 2024: 11.8%FY 2025: 2.1%
FY 2016 5y median 10.2% FY 2025
ROIC 5.4%
FY 2016: 5.9%FY 2017: 4.4%FY 2018: 6.6%FY 2019: 2.5%FY 2020: 6.9%FY 2021: 7.7%FY 2022: 8.8%FY 2023: 8.9%FY 2024: 6.2%FY 2025: 5.4%
FY 2016 5y median 7.7% FY 2025
ROA 0.8%
FY 2016: 1.7%FY 2017: 0.7%FY 2018: 1.9%FY 2019: 4.4%FY 2020: 1.9%FY 2021: 2.0%FY 2022: 2.9%FY 2023: 2.3%FY 2024: 2.7%FY 2025: 0.8%
FY 2016 5y median 2.3% FY 2025

Growth (YoY)

Revenue 18.8%
FY 2016: 38.8%FY 2017: 22.2%FY 2018: 10.2%FY 2019: 13.9%FY 2020: 13.7%FY 2021: 24.3%FY 2022: 7.0%FY 2023: 1.6%FY 2024: -14.7%FY 2025: 18.8%
FY 2016 FY 2025
Operating Income 5.5%
FY 2016: 62.3%FY 2017: -16.8%FY 2018: 48.8%FY 2019: -53.0%FY 2020: 231.0%FY 2021: 21.9%FY 2022: 11.7%FY 2023: 2.7%FY 2024: -25.1%FY 2025: 5.5%
FY 2016 FY 2025
EPS (diluted) -64.8%
FY 2016: 13.7%FY 2017: -50.3%FY 2018: 179.7%FY 2019: 191.8%FY 2020: -50.2%FY 2021: 16.3%FY 2022: 48.9%FY 2023: -21.1%FY 2024: 24.6%FY 2025: -64.8%
FY 2016 FY 2025
Free Cash Flow 26.8%
FY 2016: 24.9%FY 2017: 11.5%FY 2018: -0.2%FY 2019: 157.4%FY 2020: 61.8%FY 2021: -31.3%FY 2022: 12.6%FY 2023: 31.6%FY 2024: 12.4%FY 2025: 26.8%
FY 2016 FY 2025

Financial Health

Current Ratio 1.6×
FY 2016: 1.8×FY 2017: 1.7×FY 2018: 1.5×FY 2019: 1.4×FY 2020: 1.5×FY 2021: 1.4×FY 2022: 1.4×FY 2023: 1.4×FY 2024: 1.3×FY 2025: 1.6×
FY 2016 5y median 1.4× FY 2025
Quick Ratio 1.6×
FY 2016: 1.8×FY 2017: 1.7×FY 2018: 1.5×FY 2019: 1.4×FY 2020: 1.5×FY 2021: 1.4×FY 2022: 1.3×FY 2023: 1.4×FY 2024: 1.3×FY 2025: 1.6×
FY 2016 5y median 1.4× FY 2025
Debt / Equity 0.4×
FY 2016: 0.8×FY 2017: 1.0×FY 2018: 1.0×FY 2019: 1.4×FY 2020: 1.3×FY 2021: 1.3×FY 2022: 1.4×FY 2023: 1.1×FY 2024: 1.0×FY 2025: 0.4×
FY 2016 5y median 1.1× FY 2025
Net Debt / EBITDA -2.0×
FY 2016: 0.2×FY 2017: 0.8×FY 2018: 0.7×FY 2019: 1.0×FY 2020: 0.6×FY 2021: 0.7×FY 2022: 0.6×FY 2023: 0.6×FY 2024: 0.6×FY 2025: -2.0×
FY 2016 5y median 0.6× FY 2025
Interest Coverage 6.2×
FY 2016: 5.9×FY 2017: 2.5×FY 2018: 7.4×FY 2019: 2.4×FY 2020: 6.6×FY 2021: 11.5×FY 2022: 12.6×FY 2023: 6.2×FY 2024: 6.8×FY 2025: 6.2×
FY 2016 5y median 6.8× FY 2025

Dividends

Dividend Yield 1.1%
FY 2016: 1.8%FY 2017: 2.1%FY 2018: 0.9%FY 2019: 1.3%FY 2020: 1.1%FY 2021: 1.2%FY 2022: 2.0%FY 2023: 1.0%FY 2024: 1.4%FY 2025: 1.1%
FY 2016 5y median 1.2% FY 2025
Payout Ratio 101.7%
FY 2016: 44.6%FY 2017: 108.0%FY 2018: 15.6%FY 2019: 14.0%FY 2020: 31.9%FY 2021: 40.5%FY 2022: 26.8%FY 2023: 15.5%FY 2024: 23.5%FY 2025: 101.7%
FY 2016 5y median 26.8% FY 2025

Annual · latest fiscal year ends 2025-12-31