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  4. FORMULA SYSTEMS (1985) LTD. - ADR
Formula Systems (1985) Ltd. - ADR
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Formula Systems (1985) Ltd (ADR) quarterly and annual earnings report: results, revenue, profit, P&L, balance sheet, cash flow, financial ratios, revenue mix, peer comparison, and financial documents

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Formula Systems (1985) Ltd (ADR) quarterly results: revenue, profit, and P&L – 13 quarter history

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  • POSITIVE

    Quarterly Revenue Formula Systems (1985) Ltd (ADR) Jun-2026 Quarterly Revenue is $782 Million which is growth of 5.3% YoY.

  • POSITIVE

    Quarterly Net Profit Formula Systems (1985) Ltd (ADR) Jun-2026 Quarterly Net Profit is $23 Million which is growth of 54.6% YoY.

Formula Systems (1985) Ltd. - ADR, Earnings Report - Quarterly Results, standalone, All financials are in USD Million and price data in USD
IndicatorGraphJun '26Mar '26Dec '25Sep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23
Operating Rev.
782.4738.3708.4696.6743.4754.7558.2699.9667.7698.4640.3654.8655.4
Cost Of Rev.
624592.3568.3560.9557.9574436.9527501.2534.2479.1495.2494.4
Gross Profit
158.4146140.1135.7185.5180.7121.3172.9166.5164.2161.2159.6160.9
⌄
86.86498.581.2117.6110.273.2101.9101.4101.6100.9101.4101
Operating Profit
71.78241.654.667.970.548.1716562.660.358.360
⌄
-5.6-4.2-23.5-8.9-10.2-5.5-7.3-5.8-3.8-5.6-5.5-6.4-5.6
Profit Before Tax
6677.818.145.757.76540.765.261.25751.151.854.4
Tax
14.115.46.711.914.415.510.813.913.713.510.712.511.4
⌄
23.335.6554.817.315.119.320.123.618.817.215.715.617
Diluted NI Avail to Com Stockholders Ann.
23.335.6554.817.315.119.320.123.618.817.215.615.617
Basic EPS
1.52.336.31.111.31.31.61.21.1111.1
Diluted EPS After ExtraOrdinary
1.52.30.30.711.20.71.51.21.11.211.1
Number Of Shares End
15.315.315.315.315.315.315.315.315.315.315.315.315.3
Net Income Continuing Discontinued Operations
23.335.6554.817.315.119.320.123.618.817.215.715.617
Normalized Income
51.662.81334.743.550.431.851.747.443.641.239.743.2
Interest Income
-------------
Interest
5.64.223.58.910.25.57.35.83.85.610.56.45.6
Net Interest Income
-5.6-4.2-23.5-8.9-10.2-5.5-7.3-5.8-3.8-5.6-5.5-6.4-5.6
EBIT
71.78241.654.667.970.548.1716562.647.958.360
EBITDA
71.78241.654.667.970.548.1716562.661.758.360
Reconciled Cost Of Rev.
624592.3568.3560.9557.9574436.9527501.2534.2479.1495.2494.4
Reconciled Depr.
-------------
Profit From Continuing Operations
-------------
Normalized EBITDA
71.78241.654.667.970.548.1716562.665.458.360
*All financials are in USD Million and price data in USD
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Formula Systems (1985) Ltd (ADR) competitor comparison and performance snapshot within industry

Formula Systems (1985) Ltd (ADR) annual results: revenue, profit, P&L, and margins as of Dec 2025 – 11 year history

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  • NEGATIVE

    Annual Revenue Formula Systems (1985) Ltd (ADR) Dec-2025 Annual Revenue is $2,627 Million which is growth of -4.7% YoY.

  • POSITIVE

    Annual Net Profit Formula Systems (1985) Ltd (ADR) Dec-2025 Annual Net Profit is $606 Million which is growth of 661.2% YoY.

Formula Systems (1985) Ltd. - ADR, Earnings Report - Annual Results, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsTTMDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
0.7%
6.3%
 2,627.12,757.52,620.92,572.42,404.41,933.91,701.11,4931,355.11,108.6750.6
Cost Of Rev. Ann.
2.6%
7.2%
2,345.52,1082,072.81,977.21,949.91,840.51,486.51,315.11,159.71,058.3849.8601.8
Gross Profit Ann.
-5.9%
3%
580.3519.2684.7643.7622.5563.9447.4386.1333.3296.8258.8148.8
Operating Exp. Ann.
-6.1%
3.1%
330.5322.8419.5404.3390.1355.8276.8247.6223.7224170.3102.2
Operating Profit Ann.
-5.5%
2.9%
249.8196.4265.2239.4232.4208170.6138.5109.672.988.546.6
⌄
-
-
-42.2-36.7-21.8-24.6-19.1-20.5-23.2-17.6-7.2-21.2-11.6-9.2
Other Exp. Ann.
-
-
 -9.75-3.843.5-3.5-3.7-1.1-1.11.10.40.9
PBT Ann.
-16.4%
0.8%
207.6150248.4211256.7184143.8119.8101.352.877.338.3
Tax Ann.
-9.8%
5.3%
48.140.556.746.155.242.631.327.224.313.421.211
⌄
95.3%
66.9%
631606.579.76481.454.646.838.832.410.422.573.8
Diluted NI Avail to Com Stockholders Ann.
95.8%
67.5%
631606.579.563.980.854.64637.533.410.123.273.7
EPS Ann.
95.5%
66.4%
 39.65.24.25.33.63.12.62.20.71.65.2
Diluted EPS Ann.
94.7%
66.5%
 38.45.14.15.23.532.42.10.71.55
Number Of Shares End
0%
0%
 15.315.315.315.315.315.315.314.814.714.314.1
Total Exp. Ann.
1.3%
6.6%
 2,430.82,492.42,381.52,3402,196.41,763.31,562.61,383.41,282.31,020.1704
Net Income Continuing Discontinued Operations Ann.
95.3%
66.9%
631606.579.76481.454.646.838.832.410.422.573.7
Normalized Income Ann.
-5.8%
3.7%
162148.2202.4182.8177.3156.9123.498.28142.758.295.1
Interest Income Ann.
32.9%
39.2%
 13.615.913.85.82.72.636.78.65.1-
Interest Ann.
18.2%
10.1%
42.230.427.929.718.418.118.816.212.410.589.9
EBITDA Ann.
-6%
4.6%
249.8319.4375.9348.7384.6321.6255.5219.9155.798.4112.565.8
Reconciled Cost Of Rev. Ann.
1.3%
6.4%
2,345.52,026.82,010.51,9071,949.91,840.51,486.51,315.11,159.71,058.3849.8601.8
Reconciled Depr. Ann.
9.8%
9.8%
 152.5115.5121.8115.3122.295.586.948.743.732.417.6
Profit From Continuing Operations Ann.
49.6%
42.5%
 669.1193.8165.7199.7141.911494.477.439.456.192.5
Normalized EBITDA Ann.
-0.1%
5.8%
249.8346.3386.8366.3347327.8261.8224163.5107117.764.9
*All financials are in USD Million and price data in USD
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Total Rev. Ann.
1Y CHG
-4.7%
2Y CAGR
0.1%
3Y CAGR
0.7%
5Y CAGR
6.3%
7Y CAGR
8.4%
10Y CAGR
13.3%
Total Revenue Annual is falling faster than historical averages.
Net Profit Ann.
1Y CHG
661%
2Y CAGR
207.8%
3Y CAGR
95.3%
5Y CAGR
66.9%
7Y CAGR
52%
10Y CAGR
23.5%
Net Profit Annual growth is higher than historical averages.
Operating Exp. Ann.
1Y CHG
-23.1%
2Y CAGR
-10.6%
3Y CAGR
-6.1%
5Y CAGR
3.1%
7Y CAGR
5.4%
10Y CAGR
12.2%
Operating Expenses Annual Cr is falling faster than historical averages.

Formula Systems (1985) Ltd (ADR) balance sheet as of Dec 2025: assets, liabilities, reserves, and borrowings – 11 year history

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  • POSITIVE

    Total Shareholders Fund Formula Systems (1985) Ltd (ADR) Dec-2025 Total Shareholders Fund is $1,353 Million which is growth of 99.2% YoY.

  • POSITIVE

    Total Assets Formula Systems (1985) Ltd (ADR) Dec-2025 Total Assets is $3,583 Million which is growth of 18.9% YoY.

Formula Systems (1985) Ltd. - ADR, Balance Sheet, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
8.6%
7.3%
3,583.33,014.92,812.62,7942,748.62,520.12,089.31,664.21,563.61,358.31,067
⌄
3.7%
5%
1,805.51,625.61,504.41,6171,568.81,411.51,192.9858.8790.7634.5524.7
⌄
34.8%
21.9%
1,353.3679.3625.8551.9541503.2421.6367.6359.2336.4451.6
Total Capitalization Ann.
16.5%
11.7%
1,540.2930.2948.2973.4903.2886.6759.1622.1628.6507.4612.7
Tangible Assets Ann.
-
-
559.4-512.8-517.8-597-633.8-591.5-467.8-423.3-422.1-291.2284.5
Working Capital Ann.
31.1%
17%
835.5348.6390.2370.5354.5381294.1255.3261.9274.6145.7
Invested Capital Ann.
14.4%
11.3%
1,794.81,158.71,167.11,199.61,127.41,048.5915.8749.1704.2595.4671.8
Tangible Book Value Ann.
-
-
559.4-512.8-517.8-597-633.8-591.5-467.8-423.3-422.1-291.2284.5
Borrowings Ann.
-8.5%
-2.4%
592.3644.2670772.1712.9668.5603.5381.4345259.1220.7
Net Debt Ann.
-
-
--89.3103.310143.6125.5112.999.120.887.6
Share Issued Ann.
0%
0%
15.915.915.915.915.915.915.915.315.315.315.3
Number Of Shares End
0%
0%
15.315.315.315.315.315.315.314.814.714.314.1
*All financials are in USD Million and price data in USD
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Total Assets Ann.
1Y CHG
18.9%
2Y CAGR
12.9%
3Y CAGR
8.6%
5Y CAGR
7.3%
7Y CAGR
11.6%
10Y CAGR
12.9%
Total Assets Annual growth is higher than historical averages.
Total Current Liabilities Ann.
1Y CHG
16.8%
2Y CAGR
16.2%
3Y CAGR
9.9%
5Y CAGR
11.3%
7Y CAGR
14.2%
10Y CAGR
20.2%
Total Current Liabilities Annual Cr growth is higher than historical averages.
Total ShareHolders Funds Ann.
1Y CHG
99.2%
2Y CAGR
47.1%
3Y CAGR
34.8%
5Y CAGR
21.9%
7Y CAGR
20.5%
10Y CAGR
11.6%
Total ShareHolders Funds Annual growth is higher than historical averages.

Formula Systems (1985) Ltd (ADR) ROE, ROCE, book value, and debt-to-equity ratio as of Dec 2025 – 11 year history

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  • POSITIVE

    Book Value Per Share Formula Systems (1985) Ltd (ADR) Book Value Per Share is $51 which is growth of 17.8% YoY.

  • POSITIVE

    ROE Formula Systems (1985) Ltd (ADR) ROE is 60% which is growth of 47.5% YoY.

Formula Systems (1985) Ltd. - ADR, Ratios, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
RoA Ann. %
84.2%
55.4%
18.38%2.73%2.28%2.94%2.07%2.03%2.07%2.01%0.71%1.85%6.75%
ROE Ann. %
58.8%
42.6%
59.68%12.21%10.87%14.90%10.46%10.12%9.84%8.91%2.98%5.70%17.57%
ROIC %
182.7%
95.1%
33.92.21.91.51.31.21.31.3-0.419.7
OPM Ann. %
-6.1%
-3.3%
7.47%9.62%9.13%9.03%8.65%8.82%8.14%7.34%5.38%7.98%6.21%
Inventory Turnover Ratio Ann.
-
-
-5751.269.181.491.1210.1323291.9198.5175.2
Asset Turnover Ann. %
-3.9%
0%
0.810.90.90.90.80.90.90.90.90.7
Working Capital Turnover Ann.
-23.4%
-9.5%
3.17.96.76.96.85.15.85.95.245.2
Quick Ratio Ann.
7.2%
2.7%
1.61.21.31.31.31.41.41.41.51.71.6
Current Ratio Ann.
4.6%
1.3%
1.61.31.41.41.41.51.41.51.61.81.7
Interest Coverage Ratio Ann.
-26.6%
-7.5%
5.99.98.114.911.28.78.49.2610.64.9
LT Debt To Equity Ann.
-39.4%
-26%
0.20.60.70.90.80.910.70.80.50.4
*All financials are in USD Million and price data in USD
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ROE Ann. %
1Y CHG
388.8%
2Y CAGR
134.3%
3Y CAGR
58.8%
5Y CAGR
42.6%
7Y CAGR
31.2%
10Y CAGR
13%
ROE Annual % is growing faster than historical averages.
RoA Ann. %
1Y CHG
573.3%
2Y CAGR
183.9%
3Y CAGR
84.2%
5Y CAGR
55.4%
7Y CAGR
37.2%
10Y CAGR
10.5%
RoA Annual % is growing faster than historical averages.
Current Ratio Ann.
1Y CHG
23.1%
2Y CAGR
6.9%
3Y CAGR
4.6%
5Y CAGR
1.3%
7Y CAGR
0.9%
10Y CAGR
-0.6%
Current Ratio Annual growth is higher than historical averages.

Formula Systems (1985) Ltd (ADR) cash flow: net, operating, investing, and financing flows as of Dec 2025 – 11 year history

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  • POSITIVE

    Cash From Operating Activity Formula Systems (1985) Ltd (ADR) Dec-2025 Cash From Operating Activity is $382 Million which is growth of 17.7% YoY.

  • POSITIVE

    Net Cash Flow Formula Systems (1985) Ltd (ADR) Dec-2025 Net Cash Flow is $723 Million which is growth of 1078.7% YoY.

Formula Systems (1985) Ltd. - ADR, Cash Flow, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
16.9%
5.9%
382324.5295239.1208.5286.9196.182.6817554.4
⌄
-
-
564-78.2-139.2-74.3-110.2-177-108.2-90.5-102.5-78.8-58.5
⌄
-
-
-223.5-185-243.2-71-114.19.764116.4-7.135.8
Cash Plus Cash Eqv. End Of Year Ann.
33%
20.6%
1,280.1507.8452544.3485.4501.7368.7268.5245.9238.2132.6
Net Increase In Cash Plus Cash Eqv.s Ann.
97.4%
43.3%
722.661.3-87.593.9-15.8119.693.933.1-5.1-10.931.8
Cash Plus Cash Eqv. Begin Of Year Ann.
1.5%
6.6%
507.8452544.3485.4501.7368.7268.5246238.2249.1107.4
Income Tax Paid Supplemental Data Ann.
12%
10%
7263.176.751.338.444.7-23.319.719.217.1
Interest Paid Supplemental Data Ann.
11.8%
8.2%
24.625.926.117.615.316.6-9.16.56.86
Capex Ann.
-
-
-27.9-29-32-39.3-31.1-28.8-36.6-20.6-18.9-19.3-9.8
Issuance Of Capital Stock Ann.
-
-5.1%
83.7--108.725.4---
Issuance Of Debt Ann.
-25%
-5.9%
111.8130.355.6264.7149.3151.4204.6128.813170.396.4
Repayment Of Debt Ann.
-
-
-267.1-212.7-198.4-198-176.1-172.9-141.5-73.2-71.9-38.4-27.3
Repurchase Of Capital Stock Ann.
-
-
-----------
Free Cash Flow Ann.
21%
6.5%
354.2295.5263199.8177.4258.1159.56262.155.744.6
*All financials are in USD Million and price data in USD
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Cash from Operating Act. Ann.
1Y CHG
17.7%
2Y CAGR
13.8%
3Y CAGR
16.9%
5Y CAGR
5.9%
7Y CAGR
24.5%
10Y CAGR
21.5%
Cash from Operating Activity Annual growth is stable compared to historical averages.
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