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FORMULA SYSTEMS (1985) LTD FORTY

Nasdaq · stock · Services-Computer Programming Services · website · IPO 1991-01-01 · LEI

FORMULA SYSTEMS (1985) LTD statistics & valuation

Market cap$4.5B
P / E61.6×
P / S6.1×
P / B8.4×
P / FCF92.8×
Net margin9.8%
Return on equity13.6%
FCF margin6.5%
Net cash$74.1M
Net debt / EBITDA-1.2×
Enterprise value USD$4.5B
EV / EBITDA70×
Earnings yield EBIT/EV1%
Return on capital5.4%
Graham number -38.7%$64.36

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($64.36); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
3.30% 6.70% 3.10% 10.10% 12.70% 9.80% 201020112012201320142015
Gross margin (%)
25.00% 23.10% 24.00% 24.20% 16.70% 19.80% 201020112012201320142015
Operating margin (%)
8.50% 7.70% 7.40% 7.60% 5.50% 6.20% 201020112012201320142015
Return on equity (%)
5.50% 12.30% 5.00% 16.90% 12.30% 13.60% 201020112012201320142015
Shares outstanding
13.6M 13.7M 13.8M 14.7M 14.7M 14.7M 201020112012201320142015
Net debt ($)
-$78.7M -$72.9M -$95.5M -$82.1M -$107.4M -$74.1M 201020112012201320142015
Share buybacks ($)
201020112012201320142015
Return on assets (%)
2.90% 6.40% 2.70% 9.30% 7.20% 6.90% 201020112012201320142015
Free cash flow margin (%)
8.30% 2.60% 9.20% 7.80% 2.00% 6.50% 201020112012201320142015
Debt / equity (×)
0.10× 0.04× 0.03× 0.00× 0.00× 0.11× 201020112012201320142015
EPS ($)
$1.36 $3.11 $1.67 $5.68 $5.59 $5.00 201020112012201320142015

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

FORMULA SYSTEMS (1985) LTD trades at about 21× earnings — above its 10-year norm (10-year range 3.7×–10.1×, median 5×).

3.7× 21×

Shaded band = 10-year range (3.7×–10.1×); dot = today's 21×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2015FY2014FY2013FY2012FY2011FY2010
Gross margin19.8%16.7%24.2%24.0%23.1%25.0%
Operating margin6.2%5.5%7.6%7.4%7.7%8.5%
Net margin9.8%12.7%10.1%3.1%6.7%3.3%
FCF margin6.5%2.0%7.8%9.2%2.6%8.3%
Return on assets6.9%7.2%9.3%2.7%6.4%2.9%
Return on equity13.6%12.3%16.9%5.0%12.3%5.5%
Debt / equity0.11×0.00×0.00×0.03×0.04×0.10×
Current ratio1.691.581.581.651.691.86

Computed from company filings · US · as of 2015-12-31. Facts plus Stocktoria's own computed scores — not investment advice.