Magic Software Enterprises Ltd. (TLV: MGIC)

MGIC Income Statement

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
Revenue	535.48	535.05	566.79	480.33	371.19	325.63
Revenue Growth (YoY)	-6.24%	-5.60%	18.00%	29.40%	13.99%	14.51%
Cost of Revenue	383.3	382.07	411.44	347.33	261.6	223.5
Gross Profit	152.18	152.99	155.36	132.99	109.59	102.13
Selling, General & Admin	83.05	85.31	84.41	69.37	59.13	59.98
Research & Development	11.38	10.33	10.09	9	8.79	8.24
Operating Expenses	94.42	95.64	94.5	78.36	67.92	68.22
Operating Income	57.76	57.35	60.86	54.63	41.68	33.91
Interest Expense	-7.53	-6	-2.43	-1.33	-	-
Interest & Investment Income	4.9	4.9	1.39	0.11	0.03	0.33
Earnings From Equity Investments	-0.32	-0.06	-	-	-	-
Currency Exchange Gain (Loss)	-	-	-	-	-0.4	-1.01
Other Non Operating Income (Expenses)	-3.22	-3.22	-2.56	-2.47	-0.61	-0.37
EBT Excluding Unusual Items	51.58	52.97	57.26	50.94	40.69	32.86
Gain (Loss) on Sale of Investments	-	-	-	-	0.07	-0.12
Other Unusual Items	-0.53	-0.53	0.16	-5.32	-3.36	-0.27
Pretax Income	51.05	52.44	57.42	45.62	37.4	32.47
Income Tax Expense	10.77	9.93	11.14	10.28	7.29	6.87
Earnings From Continuing Operations	40.29	42.5	46.28	35.34	30.12	25.6
Minority Interest in Earnings	-5.54	-5.47	-5.81	-5.57	-4.93	-5.33
Net Income	34.74	37.03	40.47	29.77	25.19	20.27
Preferred Dividends & Other Adjustments	-	-	-	-	1.32	7.47
Net Income to Common	34.74	37.03	40.47	29.77	23.87	12.8
Net Income Growth	-18.45%	-8.50%	35.96%	18.19%	24.28%	1.93%
Shares Outstanding (Basic)	49	49	49	49	49	49
Shares Outstanding (Diluted)	49	49	49	49	49	49
Shares Change (YoY)	0.00%	-0.07%	0.06%	0.11%	0.11%	4.70%
EPS (Basic)	0.71	0.75	0.82	0.61	0.49	0.26
EPS (Diluted)	0.70	0.75	0.82	0.61	0.49	0.26
EPS Growth	-19.42%	-8.54%	35.13%	24.64%	87.24%	-33.18%
Free Cash Flow	50.84	67.37	52.23	42.24	49.52	44.57
Free Cash Flow Per Share	1.03	1.37	1.06	0.86	1.01	0.91
Dividend Per Share	0.204	0.531	0.590	0.446	0.385	0.236
Dividend Growth	-67.46%	-10.00%	32.29%	15.84%	63.14%	-22.62%
Gross Margin	28.42%	28.59%	27.41%	27.69%	29.52%	31.36%
Operating Margin	10.79%	10.72%	10.74%	11.37%	11.23%	10.41%
Profit Margin	6.49%	6.92%	7.14%	6.20%	6.43%	3.93%
Free Cash Flow Margin	9.49%	12.59%	9.22%	8.79%	13.34%	13.69%
EBITDA	69.56	69.2	72.51	74.47	55.62	47.93
EBITDA Margin	12.99%	12.93%	12.79%	15.50%	14.98%	14.72%
D&A For EBITDA	11.8	11.85	11.66	19.84	13.94	14.03
EBIT	57.76	57.35	60.86	54.63	41.68	33.91
EBIT Margin	10.79%	10.72%	10.74%	11.37%	11.23%	10.41%
Effective Tax Rate	21.09%	18.94%	19.40%	22.53%	19.48%	21.17%
Revenue as Reported	535.05	535.05	566.79	480.33	371.19	325.63
Advertising Expenses	-	2.8	2.68	2.52	0.47	0.52

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