Formula Systems (1985) Ltd. (FORTY)

Formula Systems (1985) Income Statement

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

Year	2023	2022	2021	2020	2019
Revenue	2,621	2,572	2,404	1,934	1,701
Revenue Growth (YoY)	1.89%	6.99%	24.33%	13.69%	13.94%
Cost of Revenue	1,977	1,950	1,841	1,486	1,315
Gross Profit	643.71	622.47	563.86	447.43	386.05
Selling, General & Admin	326.38	317.96	289.99	224.19	200.87
Research & Development	77.97	72.13	65.86	52.6	46.69
Other Operating Expenses	0	-44.26	0	0	0
Operating Expenses	404.34	345.83	355.84	276.79	247.56
Operating Income	239.37	276.64	208.02	170.64	138.49
Interest Expense / Income	42.13	27.22	29.99	29.44	22.44
Other Expense / Income	87.15	112.8	80.82	63.15	50.03
Pretax Income	110.09	136.63	97.2	78.05	66.02
Income Tax	46.08	55.24	42.61	31.27	27.2
Net Income	64.01	81.39	54.59	46.78	38.82
Net Income Growth	-21.35%	49.11%	16.69%	20.49%	19.94%
Shares Outstanding (Basic)	15	15	15	15	15
Shares Outstanding (Diluted)	15	16	15	15	15
Shares Change	-0.03%	0.64%	0.73%	-0.32%	-1.48%
EPS (Basic)	4.19	5.31	3.57	3.05	2.56
EPS (Diluted)	4.12	5.21	3.50	3.01	2.44
EPS Growth	-20.92%	48.86%	16.28%	23.36%	14.02%
Free Cash Flow	264.78	203.6	181.19	262.88	165.55
Free Cash Flow Per Share	17.30	13.31	11.85	17.20	10.90
Dividend Per Share	0.621	1.421	1.445	0.521	0.979
Dividend Growth	-56.30%	-1.66%	177.35%	-46.78%	43.97%
Gross Margin	24.56%	24.20%	23.45%	23.14%	22.69%
Operating Margin	9.13%	10.75%	8.65%	8.82%	8.14%
Profit Margin	2.44%	3.16%	2.27%	2.42%	2.28%
Free Cash Flow Margin	10.10%	7.91%	7.54%	13.59%	9.73%
Effective Tax Rate	41.85%	40.43%	43.84%	40.07%	41.20%
EBITDA	274.06	279.15	249.38	203	175.4
EBITDA Margin	10.46%	10.85%	10.37%	10.50%	10.31%
Depreciation & Amortization	121.83	115.31	122.18	95.51	86.93
EBIT	152.22	163.84	127.19	107.49	88.46
EBIT Margin	5.81%	6.37%	5.29%	5.56%	5.20%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).