Formula Systems (1985) Financial Statements
NASDAQ: FORTYTechnologyEDP ServicesUSD
At close: Oct 5, 4:00 PM ET · Delayed 15 min
Formula Systems (1985) revenue and earnings
In fiscal 2024, Formula Systems (1985) generated $2.76 billion in revenue, up 5.2% from fiscal 2023, its 10th consecutive year of revenue growth. Net income was $79.7 million (+24.5% year over year), for a net margin of 2.9% versus a median of 5.6% in the prior 5 years. Gross margin was 24.8% (up from 24.6%).
Diluted earnings per share came in at $5.09, up from $4.12. Over the last 5 fiscal years, FORTY's revenue has grown at a 10.1% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Formula Systems (1985) income statement (annual)
| Fiscal year (USD) | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20152016-12-31 | FY 20152015-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.76B | 2.62B | 2.57B | 2.40B | 1.93B | 1.70B | 1.49B | 1.36B | 1.11B | 750.55M |
| Revenue growth (YoY) | +5.21% | +1.89% | +6.99% | +24.33% | +13.69% | +13.94% | +10.17% | +22.24% | +47.71% | +17.93% |
| Cost of Revenue | 2.07B | 1.98B | 1.95B | 1.84B | 1.49B | 1.32B | 1.16B | 1.06B | 849.84M | 601.75M |
| Gross Profit | 684.68M | 643.71M | 622.47M | 563.86M | 447.43M | 386.05M | 333.31M | 296.82M | 258.78M | 148.81M |
| Operating Expenses | — | — | — | 355.84M | 276.79M | 247.56M | 223.69M | 224.02M | 170.28M | 102.21M |
| Research & Development | 84.38M | 77.97M | 72.13M | 65.86M | 52.60M | 46.69M | 41.22M | 39.85M | 22.33M | 7.49M |
| Selling, General & Admin | 335.15M | 326.38M | 317.96M | 289.99M | 224.19M | 200.87M | 182.47M | 184.16M | 147.95M | 94.72M |
| Operating Income | — | — | — | 208.02M | 170.64M | 138.49M | 109.62M | 72.81M | 88.50M | 46.59M |
| Interest Expense | 38.06M | 42.13M | 27.22M | 29.99M | 29.44M | 22.44M | 15.85M | 29.87M | 17.59M | 8.25M |
| Pretax Income | 248.38M | 211.03M | 256.71M | — | 143.76M | 119.84M | 101.33M | 52.81M | 77.26M | 38.34M |
| Income Tax | 56.66M | 46.08M | 55.23M | 42.61M | 31.27M | 27.20M | 24.30M | 13.37M | 21.16M | 10.99M |
| Net Income | 79.67M | 64.01M | 81.39M | 141.90M | 114.02M | 94.42M | 77.39M | 10.35M | 22.45M | 73.70M |
| Net Income growth (YoY) | +24.46% | -21.35% | -42.64% | +24.45% | +20.76% | +22.00% | +647.63% | -53.88% | -69.55% | -8.82% |
| EPS (Basic) | 5.22 | 4.19 | 5.31 | 3.57 | 3.05 | 2.56 | 2.20 | 0.72 | 1.58 | 5.24 |
| EPS (Diluted) | 5.09 | 4.12 | 5.21 | 3.50 | 3.01 | 2.44 | 2.14 | 0.68 | 1.49 | 5.00 |
| Shares Outstanding (Basic) | 15.30K | 15.30K | 15.30K | — | — | — | — | — | — | 14.07K |
| Shares Outstanding (Diluted) | 15.64K | 15.50K | 15.50K | — | — | — | — | — | — | 14.74K |
| EBITDA | — | — | — | 330.20M | 266.15M | 225.42M | 158.35M | 116.45M | 120.87M | 63.79M |
| Gross Margin | 24.83% | 24.56% | 24.20% | 23.45% | 23.14% | 22.69% | 22.33% | 21.90% | 23.34% | 19.83% |
| Operating Margin | — | — | — | 8.65% | 8.82% | 8.14% | 7.34% | 5.37% | 7.98% | 6.21% |
| Net Margin | 2.89% | 2.44% | 3.16% | 5.90% | 5.90% | 5.55% | 5.18% | 76.00% | 2.02% | 9.82% |
This table shows 10 annual periods of Formula Systems (1985)'s income statement, from FY 2024 back to FY 2015, across 19 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow FORTY's reporting calendar. What is a income statement?