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Formula Systems (1985) Ltd is a holding company that, through its subsidiaries, provides information technology services. The company organizes itself into operating segments: The Matrix segment, which generates the majority of revenue, provides software development and existing software expansion services. The Sapiens segment provides software development services for the insurance industry. The Magic Software segment provides vendor management systems and workforce management services, which include accounting and finance, human resources; Michpal; ZAP Group and Others. The majority of the company's revenue comes from Israel.
1985
20.3K+
LTM Revenue n/a
LTM EBITDA n/a
$1.4B
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Formula Systems has a last 12-month revenue of n/a and a last 12-month EBITDA of n/a.
In the most recent fiscal year, Formula Systems achieved revenue of $711M and an EBITDA of $98.3M.
Formula Systems expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Formula Systems valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $698M | $711M | XXX | XXX | XXX |
| Gross Profit | $153M | $169M | XXX | XXX | XXX |
| Gross Margin | 22% | 24% | XXX | XXX | XXX |
| EBITDA | $106M | $98.3M | XXX | XXX | XXX |
| EBITDA Margin | 15% | 14% | XXX | XXX | XXX |
| Net Profit | $14.8M | $22.1M | XXX | XXX | XXX |
| Net Margin | 2% | 3% | XXX | XXX | XXX |
| Net Debt | $27.4M | $28.0M | XXX | XXX | XXX |
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As of April 15, 2025, Formula Systems's stock price is ILS 326 (or $89).
Formula Systems has current market cap of ILS 5.0B (or $1.4B), and EV of ILS 5.3B (or $1.4B).
See Formula Systems trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.4B | $1.4B | XXX | XXX | XXX | XXX | n/a |
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Sign UpAs of April 15, 2025, Formula Systems has market cap of $1.4B and EV of $1.4B.
Formula Systems's trades at n/a LTM EV/Revenue multiple, and n/a LTM EBITDA.
Analysts estimate Formula Systems's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Formula Systems and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.4B | XXX | XXX | XXX |
| EV/Revenue | 2.0x | XXX | XXX | XXX |
| EV/EBITDA | 14.6x | XXX | XXX | XXX |
| P/E | 78.2x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | 20.2x | XXX | XXX | XXX |
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Sign UpFormula Systems's NTM/LTM revenue growth is n/a
Formula Systems's revenue per employee for the last fiscal year averaged $35K, while opex per employee averaged $5K for the same period.
Over next 12 months, Formula Systems's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Formula Systems's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Formula Systems and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 2% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 14% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -7% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | n/a | XXX | XXX | XXX | XXX |
| Revenue per Employee | $35K | XXX | XXX | XXX | XXX |
| Opex per Employee | $5K | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 1% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 9% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 3% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 15% | XXX | XXX | XXX | XXX |
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| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| XXX | XXX | XXX | XXX | XXX | XXX | |
| Ctac | XXX | XXX | XXX | XXX | XXX | XXX |
| Mastech Digital | XXX | XXX | XXX | XXX | XXX | XXX |
| Atturra | XXX | XXX | XXX | XXX | XXX | XXX |
| Bravura Solutions | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Formula Systems acquired XXX companies to date.
Last acquisition by Formula Systems was XXXXXXXX, XXXXX XXXXX XXXXXX . Formula Systems acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Formula Systems founded? | Formula Systems was founded in 1985. |
| Where is Formula Systems headquartered? | Formula Systems is headquartered in Israel. |
| How many employees does Formula Systems have? | As of today, Formula Systems has 20.3K+ employees. |
| Who is the CEO of Formula Systems? | Formula Systems's CEO is Mr. Guy Bernstein. |
| Is Formula Systems publicy listed? | Yes, Formula Systems is a public company listed on TAE. |
| What is the stock symbol of Formula Systems? | Formula Systems trades under FORTY ticker. |
| When did Formula Systems go public? | Formula Systems went public in 2002. |
| Who are competitors of Formula Systems? | Similar companies to Formula Systems include e.g. , Ctac, Mastech Digital, Atturra. |
| What is the current market cap of Formula Systems? | Formula Systems's current market cap is $1.4B |
| What is the current revenue growth of Formula Systems? | Formula Systems revenue growth between 2023 and 2024 was 2%. |
| Is Formula Systems profitable? | Yes, Formula Systems is EBITDA-positive (as of the last 12 months). |
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