Formula Systems (1985) Ltd. (FORTY)

Formula Systems (1985) Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	193.79	165.73	199.67	141.9	114.02
Depreciation & Amortization	115.5	121.83	115.31	122.18	95.51
Stock-Based Compensation	16.16	18.62	14.95	14.77	7.78
Other Adjustments	-22.05	-11.86	-69.47	-0.7	-0.34
Change in Receivables	-81.21	6.56	-51.4	-150.82	23.31
Changes in Inventories	11.72	-3.38	-13.76	4.64	-10.97
Changes in Accounts Payable	40.03	18.72	25.33	40.08	10.95
Changes in Accrued Expenses	44.66	-25.12	22.29	7.26	34.86
Changes in Unearned Revenue	7.37	9.69	-6.42	9.28	4.28
Changes in Other Operating Activities	-1.52	-5.83	2.63	20.51	8.74
Operating Cash Flow	324.45	294.97	239.14	209.09	288.14
Operating Cash Flow Growth	9.99%	23.35%	14.37%	-27.43%	46.95%
Capital Expenditures	-16.44	-16.68	-22.06	-17.35	-16.65
Sale of Property, Plant & Equipment	0.78	1.04	0.63	2.28	0.69
Purchases of Intangible Assets	-12.52	-15.32	-17.25	-13.7	-12.16
Purchases of Investments	-14.94	-1.74	-15.07	-0.5	-
Proceeds from Sale of Investments	5.19	0.7	0.31	-	5.43
Payments for Business Acquisitions	-64.69	-48.84	-57.44	-85.79	-157.13
Proceeds from Business Divestments	-	-	42.93	-	-
Other Investing Activities	24.42	-58.4	-6.33	4.87	2.79
Investing Cash Flow	-78.18	-139.24	-74.3	-110.19	-177.03
Short-Term Debt Issued	-4.65	-9.53	-7.32	36.26	-29.63
Net Short-Term Debt Issued (Repaid)	-4.65	-9.53	-7.32	36.26	-29.63
Long-Term Debt Issued	130.34	55.57	264.73	113	151.37
Long-Term Debt Repaid	-165.41	-143.72	-141.64	-132.05	-109.65
Net Long-Term Debt Issued (Repaid)	-35.07	-88.15	123.09	-19.05	41.72
Issuance of Common Stock	-1.58	4.83	-	2.08	114.04
Net Common Stock Issued (Repurchased)	-1.58	4.83	-	2.08	114.04
Common Dividends Paid	-85.11	-72.41	-118.31	-85.07	-55.46
Other Financing Activities	-58.56	-77.92	-68.45	-48.35	-60.94
Financing Cash Flow	-184.96	-243.18	-70.98	-114.13	9.73
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-5.45	-4.95	-34.91	-1.03	12.14
Net Cash Flow	55.85	-92.4	58.95	-16.26	132.98
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%
FCF Margin	11.17%	10.62%	8.44%	7.97%	14.04%
Free Cash Flow Per Share	19.70	17.96	14.00	12.54	17.75
Levered Free Cash Flow	241.27	65.57	320.48	258.4	185.59
Unlevered Free Cash Flow	424.6	301.25	350.85	358.28	271.03

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

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