Formula Systems (1985) Ltd. (TLV: FORTY)

Formula Systems (1985) Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	469.71	451.95	544.34	485.39	501.65	368.67
Short-Term Investments	41.14	76.22	23.98	25.92	30.29	35.37
Trading Asset Securities	-	-	0.74	1.14	1.24	1.11
Cash & Short-Term Investments	510.85	528.17	569.06	512.46	533.18	405.15
Cash Growth	8.90%	-7.18%	11.04%	-3.89%	31.60%	37.21%
Accounts Receivable	757.19	721.01	702.73	696.32	519.89	486.01
Other Receivables	-	43.99	22.35	23.25	36.67	28.32
Receivables	757.19	765	725.07	719.57	556.55	514.32
Inventory	27.04	42.01	35.18	21.22	23.99	8.64
Prepaid Expenses	86.41	40.68	42.19	48.87	47.16	37.39
Total Current Assets	1,381	1,376	1,371	1,302	1,161	965.5
Property, Plant & Equipment	206.04	173.04	171.65	172.5	173.59	147.19
Long-Term Investments	89.9	45.23	35.47	29.62	28.31	26.02
Goodwill	-	936.58	926.16	932.85	872.42	724.19
Other Intangible Assets	1,140	207.47	222.89	242.15	222.26	165.28
Long-Term Accounts Receivable	-	7.83	5.38	2.96	-	-
Long-Term Deferred Tax Assets	32.78	46.86	42.03	46.36	39.75	38.87
Other Long-Term Assets	-	19.74	18.88	20	22.87	22.21
Total Assets	2,850	2,813	2,794	2,749	2,520	2,089
Accounts Payable	226.69	258.65	222.48	205.84	153.32	125.16
Accrued Expenses	213.43	282.51	287.57	287.96	259.22	205.21
Short-Term Debt	-	64.68	70	86.38	43.72	60.01
Current Portion of Long-Term Debt	220.12	154.18	156.17	137.77	118.18	96.65
Current Portion of Leases	44.61	44.06	45.5	41.66	32.07	35.67
Current Unearned Revenue	141.19	137.64	131.64	140.66	128.9	93.51
Other Current Liabilities	135.4	43.94	87.63	47.33	44.5	55.18
Total Current Liabilities	981.43	985.66	1,001	947.6	779.9	671.39
Long-Term Debt	293.16	322.43	421.51	362.26	383.39	337.47
Long-Term Leases	118.83	84.64	78.97	84.84	91.19	73.69
Long-Term Unearned Revenue	15.18	4.87	8.86	17.76	16.63	6.49
Long-Term Deferred Tax Liabilities	38.74	59.21	59.47	78.14	68.37	53.85
Other Long-Term Liabilities	31.02	37.18	38.13	65.55	56.95	38.39
Total Liabilities	1,489	1,504	1,617	1,569	1,412	1,193
Common Stock	660.09	4.35	4.35	4.34	4.34	4.34
Additional Paid-In Capital	-	157.48	145.37	153.05	149.25	120.74
Retained Earnings	-	475.22	419.45	358.32	324.36	285.15
Treasury Stock	-	-0.26	-0.26	-0.26	-0.26	-0.26
Comprehensive Income & Other	-	-11.03	-17.03	25.52	25.51	11.68
Total Common Equity	660.09	625.76	551.88	540.96	503.2	421.64
Minority Interest	701.4	682.42	625.05	638.83	605.34	474.69
Shareholders' Equity	1,361	1,308	1,177	1,180	1,109	896.33
Total Liabilities & Equity	2,850	2,813	2,794	2,749	2,520	2,089
Total Debt	676.72	669.99	772.14	712.91	668.54	603.49
Net Cash (Debt)	-165.87	-141.82	-203.09	-200.45	-135.36	-198.34
Net Cash Per Share	-10.64	-9.15	-13.10	-13.01	-8.85	-12.93
Filing Date Shares Outstanding	15.31	15.33	15.33	15.32	15.29	15.29
Total Common Shares Outstanding	15.31	15.33	15.32	15.29	15.29	15.29
Working Capital	400.06	390.19	370.51	354.52	380.97	294.11
Book Value Per Share	43.13	40.81	36.03	35.37	32.90	27.57
Tangible Book Value	-480.17	-518.29	-597.17	-634.05	-591.49	-467.83
Tangible Book Value Per Share	-31.37	-33.80	-38.99	-41.46	-38.67	-30.59
Buildings	-	-	-	-	0.98	0.98
Machinery	-	142.62	147.47	153.64	149.21	115.98
Leasehold Improvements	-	43.13	42.82	41.91	39.28	31.44

Source: S&P Capital IQ. Standard template. Financial Sources.