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 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	2,886	2,758	2,621	2,572	2,404	1,934
Revenue Growth (YoY)	12.30%	5.21%	1.89%	6.99%	24.33%	13.69%
Cost of Revenue	2,204	2,073	1,977	1,950	1,841	1,486
Gross Profit	682.39	684.68	643.71	622.47	563.86	447.43
Selling, General & Admin	343.74	335.15	326.38	317.96	289.99	224.19
Research & Development	71.95	84.38	77.97	72.13	65.86	52.6
Other Operating Expenses	-1.84	-5.37	-	-44.26	-	-
Total Operating Expenses	413.86	414.16	404.34	345.83	355.84	276.79
Operating Income	264.85	270.52	239.37	276.64	208.02	170.64
Interest Income	-	15.92	13.8	7.29	5.99	2.56
Other Non-Operating Income (Expense)	31.52	38.06	42.13	27.22	29.99	29.44
Total Non-Operating Income (Expense)	31.52	53.98	55.93	34.5	35.98	32
Pretax Income	233.34	324.5	295.3	311.14	244	202.64
Provision for Income Taxes	57.52	56.67	46.08	55.24	42.61	31.27
Net Income	71.75	79.67	64.01	81.39	54.59	46.78
Minority Interest in Earnings	121.09	114.12	101.72	118.27	87.32	67.25
Net Income to Common	71.75	79.67	64.01	81.39	54.59	46.78
Net Income Growth	-4.75%	24.46%	-21.35%	49.11%	16.69%	20.50%
Shares Outstanding (Basic)	15	15	15	15	15	15
Shares Outstanding (Diluted)	16	16	15	16	15	15
Shares Change (YoY)	1.02%	0.90%	-0.03%	1.38%	-	-0.32%
EPS (Basic)	4.68	5.22	4.19	5.31	3.57	3.05
EPS (Diluted)	4.54	5.09	4.12	5.21	3.50	3.01
EPS Growth	-5.81%	23.54%	-20.92%	48.86%	16.28%	23.36%
Shares Outstanding	15.33	15.33	15.33	15.32	15.29	15.29
Free Cash Flow	-	308.01	278.29	217.07	191.74	271.49
Free Cash Flow Growth	-	10.68%	28.20%	13.21%	-29.38%	56.30%
Free Cash Flow Per Share	-	19.70	17.96	14.00	12.54	17.75
Dividends Per Share	2.420	1.570	1.260	0.620	1.560	1.180
Dividend Growth	54.13%	24.60%	103.23%	-60.26%	32.20%	20.41%
Gross Margin	23.64%	24.83%	24.56%	24.20%	23.45%	23.14%
Operating Margin	9.18%	9.81%	9.13%	10.75%	8.65%	8.82%
Profit Margin	6.68%	7.03%	6.32%	7.76%	5.90%	5.90%
FCF Margin	-	11.17%	10.62%	8.44%	7.97%	14.04%
EBITDA	264.85	386.02	361.2	391.95	330.2	266.15
EBITDA Margin	9.18%	14.00%	13.78%	15.24%	13.73%	13.76%
EBIT	264.85	270.52	239.37	276.64	208.02	170.64
EBIT Margin	9.18%	9.81%	9.13%	10.75%	8.65%	8.82%
Effective Tax Rate	24.65%	17.46%	15.60%	17.75%	17.46%	15.43%

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

SEC Filings: 10-K · 10-Q