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	Mar 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	523.33	535.05	566.79	480.33	371.19	325.63
Revenue Growth (YoY)	-8.27%	-5.60%	18.00%	29.40%	13.99%	14.51%
Cost of Revenue	372.53	382.07	411.44	347.33	261.6	223.5
Gross Profit	150.8	152.99	155.36	132.99	109.59	102.13
Selling, General & Admin	83.32	85.31	84.41	69.37	59.13	59.98
Research & Development	10.58	10.33	10.09	9	8.79	8.24
Operating Expenses	93.9	95.64	94.5	78.36	67.92	68.22
Operating Income	56.9	57.35	60.86	54.63	41.68	33.91
Interest Expense	-7.2	-6	-2.43	-1.33	-	-
Interest & Investment Income	4.9	4.9	1.39	0.11	0.03	0.33
Earnings From Equity Investments	-0.12	-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	51.26	52.97	57.26	50.94	40.69	32.86
Gain (Loss) on Sale of Investments	-	-	-	-	0.07	-0.12
Other Unusual Items	-0.75	-0.53	0.16	-5.32	-3.36	-0.27
Pretax Income	50.51	52.44	57.42	45.62	37.4	32.47
Income Tax Expense	9.85	9.93	11.14	10.28	7.29	6.87
Earnings From Continuing Operations	40.66	42.5	46.28	35.34	30.12	25.6
Minority Interest in Earnings	-4.94	-5.47	-5.81	-5.57	-4.93	-5.33
Net Income	35.72	37.03	40.47	29.77	25.19	20.27
Preferred Dividends & Other Adjustments	-	-	-	-	1.32	7.47
Net Income to Common	35.72	37.03	40.47	29.77	23.87	12.8
Net Income Growth	-12.59%	-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)	-0.10%	-0.07%	0.06%	0.11%	0.11%	4.70%
EPS (Basic)	0.73	0.75	0.82	0.61	0.49	0.26
EPS (Diluted)	0.72	0.75	0.82	0.61	0.49	0.26
EPS Growth	-12.21%	-8.54%	35.13%	24.64%	87.24%	-33.18%
Free Cash Flow	76.45	67.37	52.23	42.24	49.52	44.57
Free Cash Flow Per Share	1.56	1.37	1.06	0.86	1.01	0.91
Dividend Per Share	-	0.531	0.590	0.446	0.385	0.236
Dividend Growth	-	-10.00%	32.29%	15.84%	63.14%	-22.62%
Gross Margin	28.82%	28.59%	27.41%	27.69%	29.52%	31.36%
Operating Margin	10.87%	10.72%	10.74%	11.37%	11.23%	10.41%
Profit Margin	6.83%	6.92%	7.14%	6.20%	6.43%	3.93%
Free Cash Flow Margin	14.61%	12.59%	9.22%	8.79%	13.34%	13.69%
EBITDA	68.58	69.2	72.51	74.47	55.62	47.93
EBITDA Margin	13.11%	12.93%	12.79%	15.50%	14.98%	14.72%
D&A For EBITDA	11.69	11.85	11.66	19.84	13.94	14.03
EBIT	56.9	57.35	60.86	54.63	41.68	33.91
EBIT Margin	10.87%	10.72%	10.74%	11.37%	11.23%	10.41%
Effective Tax Rate	19.50%	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.