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Formula Systems Valuation Multiples
Discover revenue and EBITDA valuation multiples for Formula Systems and similar public comparables like Neusoft, SoftwareOne, BigBear.ai, ASGN and more.
Formula Systems Overview
About Formula Systems
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.
Founded
1985
HQ
Employees
22.7K
Website
Sectors
Financials (FY)
EV
$2B
Formula Systems Financials
Formula Systems reported last fiscal year revenue of $3B and EBITDA of $392M.
In the same fiscal year, Formula Systems generated $685M in gross profit, $392M in EBITDA, and $80M in net income.
Formula Systems P&L
In the most recent fiscal year, Formula Systems reported revenue of $3B and EBITDA of $392M.
Formula Systems expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | — | XXX | $3B | XXX | XXX | XXX |
| Gross Profit | — | XXX | $685M | XXX | XXX | XXX |
| Gross Margin | — | XXX | 25% | XXX | XXX | XXX |
| EBITDA | — | XXX | $392M | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | 14% | XXX | XXX | XXX |
| EBIT Margin | — | XXX | 10% | XXX | XXX | XXX |
| Net Profit | — | XXX | $80M | XXX | XXX | XXX |
| Net Margin | — | XXX | 3% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Formula Systems Stock Performance
Formula Systems has current market cap of $2B, and enterprise value of $2B.
Market Cap Evolution
Formula Systems' stock price is $117.91.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2B | $2B | 0.0% | XXX | XXX | XXX | $5.20 |
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Start Free TrialFormula Systems Valuation Multiples
Formula Systems trades at 0.7x EV/Revenue multiple, and 5.1x EV/EBITDA.
Formula Systems Financial Valuation Multiples
As of March 17, 2026, Formula Systems has market cap of $2B and EV of $2B.
Equity research analysts estimate Formula Systems' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Formula Systems has a P/E ratio of 22.7x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV/Revenue | — | XXX | 0.7x | XXX | XXX | XXX |
| EV/EBITDA | — | XXX | 5.1x | XXX | XXX | XXX |
| EV/EBIT | — | XXX | 7.6x | XXX | XXX | XXX |
| EV/Gross Profit | — | XXX | 2.9x | XXX | XXX | XXX |
| P/E | — | XXX | 22.7x | XXX | XXX | XXX |
| EV/FCF | — | XXX | 6.8x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Formula Systems Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Formula Systems Margins & Growth Rates
Formula Systems' revenue in the last fiscal year grew by 5%.
Formula Systems Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | — | XXX | 5% | XXX | XXX | XXX |
| EBITDA Margin | — | XXX | 14% | XXX | XXX | XXX |
| EBITDA Growth | — | XXX | 8% | XXX | XXX | XXX |
| S&M Expenses to Revenue | — | XXX | 1% | XXX | XXX | XXX |
| G&A Expenses to Revenue | — | XXX | 9% | XXX | XXX | XXX |
| R&D Expenses to Revenue | — | XXX | 3% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 15% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Formula Systems Public Comps
See public comps and valuation multiples for other IT Consulting comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Neusoft | XXX | XXX | XXX | XXX | XXX | XXX |
| SoftwareOne | XXX | XXX | XXX | XXX | XXX | XXX |
| BigBear.ai | XXX | XXX | XXX | XXX | XXX | XXX |
| ASGN | XXX | XXX | XXX | XXX | XXX | XXX |
| MyEG | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Formula Systems M&A Activity
Formula Systems acquired XXX companies to date.
Last acquisition by Formula Systems was on XXXXXXXX, XXXXX. Formula Systems acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Formula Systems
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialFormula Systems Investment Activity
Formula Systems invested in XXX companies to date.
Formula Systems made its latest investment on XXXXXXXX, XXXXX. Formula Systems invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Formula Systems
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Formula Systems
| 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 over 22K employees. |
| Who is the CEO of Formula Systems? | Formula Systems' CEO is Guy Bernstein. |
| Is Formula Systems publicly listed? | Yes, Formula Systems is a public company listed on Tel Aviv Stock Exchange. |
| 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? | Formula Systems main competitors are Neusoft, SoftwareOne, BigBear.ai, ASGN. |
| What is the current market cap of Formula Systems? | Formula Systems' current market cap is $2B. |
| What is the current revenue of Formula Systems? | Formula Systems' last fiscal year revenue is $3B. |
| What is the current EV/Revenue multiple of Formula Systems? | Current revenue multiple of Formula Systems is 0.7x. |
| Is Formula Systems profitable? | No, Formula Systems is not profitable. |
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