FORTY
Formula Systems (1985) Ltd.
NasdaqGSUSDEQUITY
Technology
DELAYED
Sell
-33/100
Last price
118.15
■ 0.00 (0.00%)
MARKET · —
Price
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Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
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Range —
Vol —
vs
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Open
—
Prev close
118.15
Day high
118.15
Day low
118.15
Volume
833
Market cap
$1.81B
P/E (TTM)
25.03
52W range
102.01 – 190.56
Trailing performance
Returnvs SPY
1W
+2.75%
+0.8%
1M
-8.41%
-9.6%
3M
+6.41%
+1.9%
6M
-5.06%
-23.2%
YTD
-29.26%
-43.5%
1Y
-12.42%
-28.8%
3Y
+57.20%
-25.1%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on FORTY open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
0
Total on file
Fundamentals
Market cap$1.81B
Enterprise value$2.07B
Revenue (TTM)$2.93B
Gross profit$580.28M
EBITDA$331.16M
Net income$74.85M
EPS (TTM)$4.72
Free cash flow—
Total cash$864.54M
Total debt$670.60M
Book value / share$78.74
Shares outstanding15.33M
Float9.52M
Short % of float0.00%
Dividend yield2.26%
Beta (5Y)0.18
Valuation & profitability ratios
Trailing P/E25.03
Forward P/E—
PEG ratio4.07
Price / sales—
Price / book1.50
EV / revenue0.71
EV / EBITDA6.24
Gross margin19.83%
Operating margin9.16%
Profit margin21.57%
Return on equity10.39%
Return on assets4.66%
Debt / equity40.49
Current ratio1.48
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $2.63B | $2.22B | $2.11B | $2.57B | +18.4% |
| Operating revenue | $2.63B | $2.22B | $2.11B | $2.57B | +18.4% |
| Cost of revenue | $2.11B | $1.77B | $1.69B | $1.95B | +18.9% |
| Gross profit | $519.16M | $445.76M | $421.20M | $622.47M | +16.5% |
| Research & development | $20.02M | $18.08M | $14.49M | $72.13M | +10.8% |
| Selling, general & admin | $209.08M | $182.33M | $186.20M | $245.23M | +14.7% |
| Total operating expense | $322.79M | $262.42M | $263.16M | $390.08M | +23.0% |
| Operating income | $196.38M | $183.33M | $158.04M | $232.38M | +7.1% |
| Net interest income | -$36.67M | -$24.11M | -$24.02M | -$19.12M | -52.1% |
| Pre-tax income | $150.04M | $160.94M | $134.03M | $256.71M | -6.8% |
| Tax provision | $40.46M | $38.77M | $31.83M | $55.23M | +4.3% |
| Net income | $606.48M | $79.67M | $64.01M | $81.39M | +661.2% |
| Net income to common | $606.48M | $79.67M | $64.01M | $81.39M | +661.2% |
| Basic EPS | 39.63 | 5.22 | 4.19 | 5.31 | +659.2% |
| Diluted EPS | 38.39 | 5.09 | 4.12 | 5.21 | +654.2% |
| EBIT | $180.47M | $187.21M | $161.90M | $275.14M | -3.6% |
| EBITDA | $332.99M | $302.70M | $283.73M | $390.45M | +10.0% |
| Basic shares | 15.31M | 15.30M | 15.30M | 15.30M | +0.0% |
| Diluted shares | 15.79M | 15.64M | 15.50M | 15.50M | +1.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $1.28B | $507.80M | $451.95M | $544.34M | +152.1% |
| Cash & short-term investments | $1.28B | $563.20M | $528.17M | $569.06M | +127.4% |
| Accounts receivable | $774.47M | $803.24M | $721.01M | $702.73M | -3.6% |
| Inventory | $30.25M | $30.73M | $42.01M | $35.18M | -1.6% |
| Total current assets | $2.17B | $1.49B | $1.38B | $1.37B | +45.6% |
| Property, plant & equipment | $193.08M | $208.02M | $173.58M | $171.81M | -7.2% |
| Goodwill & intangibles | $793.86M | $1.19B | $1.14B | $1.15B | -33.4% |
| Total assets | $3.58B | $3.01B | $2.81B | $2.79B | +18.9% |
| Total current liabilities | $1.33B | $1.14B | $985.66M | $1.00B | +16.9% |
| Current debt | $254.59M | $228.56M | $218.86M | $226.18M | +11.4% |
| Long-term debt | $186.97M | $250.82M | $322.43M | $421.51M | -25.5% |
| Total debt | $592.26M | $644.21M | $669.99M | $772.14M | -8.1% |
| Total liabilities | $1.81B | $1.63B | $1.50B | $1.62B | +11.1% |
| Retained earnings | $1.11B | $536.01M | $475.22M | $419.45M | +106.3% |
| Shareholder equity | $1.35B | $679.34M | $625.76M | $551.88M | +99.2% |
| Working capital | $835.49M | $348.57M | $390.19M | $370.51M | +139.7% |
| Net tangible assets | $559.40M | -$512.82M | -$517.75M | -$597.01M | +209.1% |
| Shares issued | 15.90M | 15.90M | 15.90M | 15.89M | 0.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $669.06M | $193.79M | $165.73M | $199.67M | +245.3% |
| Depreciation & amortisation | $152.51M | $115.50M | $121.83M | $115.31M | +32.1% |
| Stock-based compensation | $31.15M | $16.16M | $18.62M | $14.95M | +92.7% |
| Change in working capital | $105.27M | $21.05M | $640.00K | -$21.32M | +400.0% |
| Operating cash flow | $382.04M | $324.45M | $294.97M | $239.14M | +17.7% |
| Capital expenditure | -$27.89M | -$28.96M | -$32.00M | -$39.31M | +3.7% |
| Investing cash flow | $564.01M | -$78.18M | -$139.24M | -$74.30M | +821.4% |
| Dividends paid | -$28.66M | -$18.81M | -$9.93M | -$21.78M | -52.4% |
| Financing cash flow | -$223.47M | -$184.96M | -$243.18M | -$70.98M | -20.8% |
| Free cash flow | $354.15M | $295.49M | $262.97M | $199.82M | +19.9% |
| End cash position | $1.28B | $507.80M | $451.95M | $544.34M | +152.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $782.44M | $738.28M | $708.38M | $696.64M | $602.73M | +6.0% |
| Operating revenue | $782.44M | $738.28M | $708.38M | $696.64M | $602.73M | +6.0% |
| Cost of revenue | $624.01M | $592.25M | $568.26M | $560.93M | $479.61M | +5.4% |
| Gross profit | $158.43M | $146.04M | $140.11M | $135.71M | $123.11M | +8.5% |
| Research & development | $5.75M | $5.17M | $5.29M | $4.94M | $4.99M | +11.3% |
| Selling, general & admin | $80.88M | $75.65M | $102.46M | $76.22M | $67.42M | +6.9% |
| Total operating expense | $86.78M | $64.03M | $98.52M | $81.15M | $72.41M | +35.5% |
| Operating income | $71.65M | $82.00M | $41.59M | $54.55M | $50.71M | -12.6% |
| Net interest income | -$5.63M | -$4.17M | -$23.54M | -$8.85M | -$11.11M | -35.0% |
| Pre-tax income | $66.02M | $77.83M | $18.06M | $45.70M | $39.60M | -15.2% |
| Tax provision | $14.06M | $15.38M | $6.71M | $11.94M | $10.84M | -8.5% |
| Net income | $23.27M | $35.64M | $554.78M | $17.33M | $15.05M | -34.7% |
| Net income to common | $23.27M | $35.64M | $554.78M | $17.33M | $15.05M | -34.7% |
| Basic EPS | 1.52 | 2.33 | 36.25 | 1.13 | 0.98 | -34.8% |
| Diluted EPS | 1.47 | 2.25 | 35.03 | 1.08 | 0.95 | -34.7% |
| EBIT | $71.65M | $82.00M | $41.59M | $54.55M | $50.71M | -12.6% |
| EBITDA | $71.65M | $82.00M | $41.59M | $54.55M | $50.71M | -12.6% |
| Basic shares | 15.32M | 15.32M | 15.31M | 15.31M | 15.31M | +0.0% |
| Diluted shares | 15.84M | 15.84M | 15.84M | 15.80M | 15.76M | +0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $863.79M | $1.18B | $1.28B | $431.31M | $393.19M | -26.9% |
| Cash & short-term investments | $864.54M | $1.18B | $1.28B | $432.08M | $406.17M | -26.9% |
| Accounts receivable | $947.33M | $844.56M | $774.47M | $784.10M | $883.21M | +12.2% |
| Inventory | $51.79M | $36.30M | $30.25M | $26.27M | $48.10M | +42.6% |
| Total current assets | $1.97B | $2.17B | $2.17B | $2.06B | $1.45B | -9.5% |
| Property, plant & equipment | $213.71M | $199.29M | $193.08M | $193.69M | $226.17M | +7.2% |
| Goodwill & intangibles | $871.11M | $819.13M | $793.86M | $956.58M | $1.38B | +6.3% |
| Total assets | $3.51B | $3.64B | $3.58B | $3.33B | $3.20B | -3.6% |
| Total current liabilities | $1.33B | $1.29B | $1.33B | $1.29B | $1.19B | +3.2% |
| Current debt | $289.56M | $319.27M | $254.59M | $249.24M | $251.79M | -9.3% |
| Long-term debt | $222.03M | $212.87M | $186.97M | $235.48M | $249.88M | +4.3% |
| Total debt | $670.60M | $681.48M | $592.26M | $638.70M | $683.87M | -1.6% |
| Total liabilities | $1.85B | $1.81B | $1.81B | $1.75B | $1.73B | +2.0% |
| Retained earnings | — | — | $1.11B | — | — | — |
| Shareholder equity | $1.21B | $1.38B | $1.35B | $777.69M | $722.92M | -12.9% |
| Working capital | $634.43M | $882.59M | $835.49M | $770.57M | $253.84M | -28.1% |
| Net tangible assets | $334.99M | $565.78M | $559.40M | -$178.89M | -$659.90M | -40.8% |
| Shares issued | 15.33M | 15.33M | 15.90M | 15.33M | 15.90M | +0.0% |
No filings published for this symbol yet.
Newly listed companies often have nothing on file until their first annual report.
Newly listed companies often have nothing on file until their first annual report.
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Sep 2010 | — | 0.36 | — |
| Jun 2010 | — | 0.63 | — |
| Mar 2010 | — | 0.35 | — |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | — | — | $0 | — |
| Next quarter | — | — | $0 | — |
| Current year | — | — | $0 | — |
| Next year | — | — | $0 | — |
Analyst targets & ownership
Mean target—
High target—
Low target—
Implied upside—
Analyst count—
ConsensusNONE
Strong buy / Buy— / —
Hold—
Sell / Strong sell— / —
Held by insiders0.00%
Held by institutions14.13%
Institutions holding20
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
115.13
+2.62% from price
SMA 20
118.41
-0.22% from price
SMA 50
116.47
+1.44% from price
SMA 100
118.04
+0.09% from price
SMA 200
129.57
-8.81% from price
EMA 12
116.57
+1.35% from price
EMA 26
117.55
+0.51% from price
EMA 50
117.58
+0.48% from price
RSI (14)
51.9
Neutral
MACD (12,26,9)
-0.97
Hist -0.23
ATR (14)
1.45
1.23% of price
Realised vol 30D
29.9%
Annualised
Bollinger upper
127.78
20, 2σ
Bollinger lower
109.04
20, 2σ
50 / 200 cross
Death
116.47 vs 129.57
Trend bias
Below 200
-8.81%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.56
Less volatile than market
Correlation to SPY
0.15
Largely independent
Realised vol 30D
29.9%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-46.5%
Peak to trough
Max drawdown 5Y
-55.5%
Peak to trough
ATR 14
1.45
1.23% of price
Beta (reported)
0.18
5Y monthly, from filing
Short interest
Shares short
233
Prior 122
Change vs prior
+91.0%
Shorts adding
% of float
0.00%
Normal
% of shares out
0.00%
Against total outstanding
Days to cover
0.9
Liquid
Float
9.52M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Dividends & splits
Forward rate$2.67 / yr
Forward yield2.26%
5-year avg yield1.37%
Payout ratio31.94%
Ex-dividend dateSep 22, 2026
Next pay dateJun 15, 2026
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
6-K · 2026-08-25
Corporate Changes & Voting Matters
6-K · 2026-07-20
Corporate Changes & Voting Matters
6-K · 2026-06-15
Corporate Changes & Voting Matters
6-K · 2026-05-28
Corporate Changes & Voting Matters
6-K · 2026-05-14
Periodic Financial Reports
20-F · 2026-05-13
Corporate Changes & Voting Matters
6-K · 2026-03-26
Corporate Changes & Voting Matters
6-K · 2025-11-20
Headlines
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