Formula Systems (1985) Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2019	FY 2018
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018
Revenue	3,292	2,758	2,621	2,572	1,701	1,493
Revenue Growth (YoY)	28.09%	5.21%	1.89%	51.22%	13.94%	10.17%
Cost of Revenue	2,430	2,073	1,977	1,950	1,315	1,160
Gross Profit	862.12	684.68	643.71	622.47	386.05	333.31
Selling, General & Admin	409.67	335.15	326.38	317.96	200.87	182.47
Research & Development	122.38	84.38	77.97	72.13	46.69	41.22
Total Operating Expenses	532.05	419.53	404.34	390.09	247.56	223.7
Operating Income	328.23	270.52	239.37	276.64	138.49	109.62
Interest Income	3.75	18	14.57	5.48	5.58	7.93
Interest Expense	-	-38.06	-42.13	-27.22	-22.44	-15.85
Other Non-Operating Income (Expense)	24.62	5.37	-	44.26	-	-
Total Non-Operating Income (Expense)	28.37	-14.7	-27.56	22.52	-16.87	-7.92
Pretax Income	305.4	255.82	211.81	299.16	121.62	101.7
Provision for Income Taxes	70.47	56.67	46.08	55.24	27.2	24.3
Net Income	71.75	79.67	64.01	81.39	38.82	32.37
Minority Interest in Earnings	151.72	114.12	101.72	118.27	55.6	45.03
Earnings From Discontinued Operations	5.73	-	-	-	-	-
Net Income to Common	71.75	79.67	64.01	81.39	38.82	32.37
Net Income Growth	-4.75%	24.46%	-21.35%	109.67%	19.94%	212.65%
Shares Outstanding (Basic)	15	15	15	15	15	15
Shares Outstanding (Diluted)	15	16	15	16	15	16
Shares Change (YoY)	-1.64%	0.90%	-0.03%	1.06%	-1.48%	5.70%
EPS (Basic)	4.68	5.22	4.19	5.31	2.56	2.20
EPS (Diluted)	4.68	5.09	4.12	5.21	2.44	2.14
EPS Growth	-2.91%	23.54%	-20.92%	113.53%	14.02%	214.71%
Free Cash Flow	-	308.01	278.29	217.07	173.7	70.97
Free Cash Flow Growth	-	10.68%	28.20%	24.97%	144.75%	-0.77%
Free Cash Flow Per Share	-	19.70	17.96	14.00	11.32	4.56
Dividends Per Share	2.420	1.570	1.260	0.620	0.980	0.340
Dividend Growth	54.13%	24.60%	103.23%	-36.73%	188.23%	-50.00%
Gross Margin	26.19%	24.83%	24.56%	24.20%	22.69%	22.33%
Operating Margin	9.97%	9.81%	9.13%	10.75%	8.14%	7.34%
Profit Margin	5.86%	7.03%	6.32%	7.76%	5.55%	5.18%
FCF Margin	-	11.17%	10.62%	8.44%	10.21%	4.75%
EBITDA	328.23	386.02	361.2	391.95	225.42	158.35
EBITDA Margin	9.97%	14.00%	13.78%	15.24%	13.25%	10.61%
EBIT	328.23	270.52	239.37	276.64	138.49	109.62
EBIT Margin	9.97%	9.81%	9.13%	10.75%	8.14%	7.34%
Effective Tax Rate	41.85%	22.15%	21.75%	18.46%	22.36%	23.90%

Updated Nov 20, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

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