Formula Systems (1985) Ltd. (FORTY) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 | Q1'21 |
|---|
| Sales/Revenue | 712.8M | 699.9M | 759.34M | 616.17M | 691.5M | 699.93M | 667.68M | 698.4M | 640.29M | 654.84M | 655.37M | 670.4M | 633.88M | 636.31M | 644.59M | 657.57M | 658.74M | 586.26M | 587.88M | 572.64M |
| Revenue Growth % | 3.08% | -0.01% | 13.73% | -11.77% | 8% | 6.89% | 1.88% | 4.18% | 1.01% | 2.91% | 1.67% | 1.95% | -3.77% | 8.54% | 9.65% | 14.83% | 21.26% | 20.3% | 34.51% | 22.81% |
| Cost of Goods Sold | 571.81M | 563.55M | 569.86M | 496.56M | 511.02M | 527.03M | 501.23M | 534.19M | 479.07M | 495.22M | 494.44M | 508.47M | 468.69M | 482.88M | 495.78M | 502.54M | 503.01M | 444.62M | 446.93M | 447.08M |
| COGS % of Revenue | 80.22% | 80.52% | 75.05% | 80.59% | 73.9% | 75.3% | 75.07% | 76.49% | 74.82% | 75.63% | 75.44% | 75.85% | 73.94% | 75.89% | 76.91% | 76.42% | 76.36% | 75.84% | 76.03% | 78.07% |
| Gross Profit | 140.99M | 136.34M | 189.48M | 119.6M | 180.47M | 172.9M | 166.45M | 164.22M | 161.22M | 159.62M | 160.94M | 161.93M | 165.19M | 153.44M | 148.81M | 155.03M | 155.72M | 141.64M | 140.94M | 125.56M |
| Gross Margin % | 19.78% | 19.48% | 24.95% | 19.41% | 26.1% | 24.7% | 24.93% | 23.51% | 25.18% | 24.38% | 24.56% | 24.15% | 26.06% | 24.11% | 23.09% | 23.58% | 23.64% | 24.16% | 23.97% | 21.93% |
| Gross Profit Growth % | -21.88% | -21.14% | 13.84% | -27.17% | 11.94% | 8.32% | 3.42% | 1.41% | -2.4% | 4.03% | 8.15% | 4.45% | 6.08% | 8.33% | 5.58% | 23.47% | 24.6% | 21.69% | 36.93% | 21.74% |
| Operating Expenses | 108.42M | 81.53M | 120.13M | 70.34M | 109.26M | 101.87M | 101.41M | 101.63M | 100.88M | 101.37M | 100.95M | 101.14M | 105.02M | 95.91M | 93.48M | 95.63M | 96.15M | 91.19M | 90.41M | 78.1M |
| OpEx % of Revenue | 15.21% | 11.65% | 15.82% | 11.42% | 15.8% | 14.55% | 15.19% | 14.55% | 15.76% | 15.48% | 15.4% | 15.09% | 16.57% | 15.07% | 14.5% | 14.54% | 14.6% | 15.55% | 15.38% | 13.64% |
| Selling, General & Admin | 103.1M | 76.57M | 95.8M | 65.55M | 84.67M | 88.1M | 80.97M | 81.41M | 81.13M | 81.67M | 81.74M | 81.83M | 86.15M | 77.84M | 75.64M | 78.28M | 79.41M | 74.39M | 74.09M | 62.1M |
| SG&A % of Revenue | 14.46% | 10.94% | 12.62% | 10.64% | 12.24% | 12.59% | 12.13% | 11.66% | 12.67% | 12.47% | 12.47% | 12.21% | 13.59% | 12.23% | 11.73% | 11.9% | 12.05% | 12.69% | 12.6% | 10.84% |
| Research & Development | 5.32M | 4.96M | 24.33M | 4.79M | 22.11M | 20.98M | 20.43M | 20.22M | 19.75M | 19.7M | 19.21M | 19.31M | 18.87M | 18.06M | 17.85M | 17.35M | 16.74M | 16.8M | 16.32M | 16M |
| R&D % of Revenue | 0.75% | 0.71% | 3.2% | 0.78% | 3.2% | 3% | 3.06% | 2.89% | 3.08% | 3.01% | 2.93% | 2.88% | 2.98% | 2.84% | 2.77% | 2.64% | 2.54% | 2.86% | 2.78% | 2.79% |
| Other Operating Expenses | 1 | 0 | 1 | 1 | 1000K | -1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 32.57M | 54.81M | 69.35M | 49.27M | 71.87M | 71.03M | 65.04M | 62.59M | 60.34M | 58.25M | 59.98M | 34.26M | 33.15M | 82.15M | 99.53M | 32.42M | 59.57M | 50.45M | 50.53M | 47.45M |
| Operating Margin % | 4.57% | 7.83% | 9.13% | 8% | 10.39% | 10.15% | 9.74% | 8.96% | 9.42% | 8.89% | 9.15% | 5.11% | 5.23% | 12.91% | 15.44% | 4.93% | 9.04% | 8.61% | 8.6% | 8.29% |
| Operating Income Growth % | -54.68% | -22.84% | 6.62% | -21.28% | 19.1% | 21.95% | 8.43% | 82.69% | 82.04% | -29.1% | -39.74% | 5.67% | -44.36% | 62.82% | 96.97% | -31.68% | 30.17% | 11.22% | 24.14% | 22.29% |
| EBITDA | 186.29M | 54.81M | 69.35M | 49.27M | 71.87M | 71.03M | 76.99M | 62.59M | 60.34M | 69.85M | 71.59M | 45.86M | 44.75M | 101.94M | 119.32M | 52.21M | 71.38M | 65.73M | 65.81M | 62.73M |
| EBITDA Margin % | 26.14% | 7.83% | 9.13% | 8% | 10.39% | 10.15% | 11.53% | 8.96% | 9.42% | 10.67% | 10.92% | 6.84% | 7.06% | 16.02% | 18.51% | 7.94% | 10.84% | 11.21% | 11.19% | 10.95% |
| EBITDA Growth % | 159.22% | -22.84% | -9.93% | -21.28% | 19.1% | 1.69% | 7.56% | 36.47% | 34.85% | -31.48% | -40.01% | -12.16% | -37.31% | 55.08% | 81.32% | -16.77% | 16.93% | 11.95% | 21.74% | 20.28% |
| D&A (Non-Cash Add-back) | 153.72M | 0 | 0 | 0 | 0 | 0 | 11.96M | 0 | 0 | 11.6M | 11.6M | 11.6M | 11.6M | 19.79M | 19.79M | 19.79M | 11.8M | 15.27M | 15.27M | 15.27M |
| EBIT | 32.57M | 54.81M | 69.35M | 49.27M | 71.87M | 71.03M | 65.04M | 62.59M | 60.34M | 58.25M | 59.98M | 60.79M | 60.18M | 57.53M | 99.53M | 59.4M | 59.57M | 50.45M | 50.53M | 47.45M |
| Net Interest Income | -23.68M | -8.89M | -10.45M | -6.46M | -6.9M | -5.81M | -3.83M | -5.6M | -5.45M | -6.42M | -5.61M | -7.08M | -6.9M | -4.63M | -3.72M | -4.68M | 4.54M | -5.58M | -5.94M | -5.1M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.54M | 0 | 0 | 0 |
| Interest Expense | 23.68M | 8.89M | 10.45M | 6.46M | 6.9M | 5.81M | 3.83M | 5.6M | 9.21M | 6.42M | 5.61M | 7.08M | 6.9M | 4.63M | 3.72M | 4.68M | 1.45M | 5.58M | 5.94M | 5.1M |
| Other Income/Expense | -12.7M | -7.96M | -10.23M | -5.64M | -5.12M | -5.48M | -3.96M | -5.5M | -9.04M | -6.03M | -5.44M | -7.08M | -6.9M | -4.63M | -3.72M | -4.68M | -7.23M | -5.89M | -5.51M | -4.87M |
| Pretax Income | 19.87M | 46.85M | 59.12M | 43.63M | 66.75M | 65.55M | 61.21M | 57.09M | 51.3M | 52.22M | 54.55M | 53.71M | 53.27M | 52.9M | 95.82M | 54.72M | 52.34M | 44.57M | 45.02M | 42.58M |
| Pretax Margin % | 2.79% | 6.69% | 7.79% | 7.08% | 9.65% | 9.36% | 9.17% | 8.17% | 8.01% | 7.97% | 8.32% | 8.01% | 8.4% | 8.31% | 14.87% | 8.32% | 7.95% | 7.6% | 7.66% | 7.44% |
| Income Tax | 6.75M | 12M | 14.74M | 10.91M | 15.7M | 13.86M | 13.65M | 13.46M | 10.72M | 12.49M | 11.38M | 11.49M | 10.91M | 11.4M | 21.42M | 11.5M | 12.6M | 9.82M | 10.84M | 9.35M |
| Effective Tax Rate % | 33.98% | 25.61% | 24.93% | 25.01% | 23.51% | 21.15% | 22.3% | 23.57% | 20.89% | 23.91% | 20.86% | 21.39% | 20.47% | 21.56% | 22.36% | 21.02% | 24.07% | 22.04% | 24.08% | 21.96% |
| Net Income | 558.25M | 17.41M | 15.38M | 19.22M | 20.05M | 23.62M | 18.84M | 17.16M | 15.71M | 15.6M | 17.02M | 42.22M | 42.37M | 41.49M | 74.4M | 43.21M | 15.54M | 13.29M | 13.34M | 12.42M |
| Net Margin % | 78.32% | 2.49% | 2.02% | 3.12% | 2.9% | 3.37% | 2.82% | 2.46% | 2.45% | 2.38% | 2.6% | 6.3% | 6.68% | 6.52% | 11.54% | 6.57% | 2.36% | 2.27% | 2.27% | 2.17% |
| Net Income Growth % | 2683.72% | -26.29% | -18.38% | 11.99% | 27.63% | 51.44% | 10.68% | -59.36% | -62.91% | -62.41% | -77.12% | -2.3% | 172.67% | 212.16% | 457.92% | 247.97% | 30.65% | 5.25% | 18.72% | 12.68% |
| Net Income (Continuing) | 13.12M | 34.85M | 44.38M | 32.72M | 51.05M | 51.68M | 47.42M | 43.63M | 40.58M | 39.73M | 43.17M | 42.22M | 39.98M | 41.46M | 74.78M | 43.45M | 39.74M | 34.74M | 34.18M | 33.23M |
| Discontinued Operations | 1000K | 1000K | 0 | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 435.18M | 799.67M | 739.61M | 696.24M | 710.01M | 701.4M | 682.88M | 674.65M | 682.42M | 643.25M | 651.56M | 625.76M | 625.17M | 596.52M | 620.75M | 639.9M | 638.83M | 617.25M | 609.96M | 603.81M |
| EPS (Diluted) | 35.25 | 0.73 | 0.95 | 1.23 | 1.28 | 1.51 | 1.20 | 1.10 | 1.01 | 1.00 | 1.11 | 2.73 | 2.74 | 2.67 | 4.80 | 2.82 | 0.99 | 0.85 | 0.86 | 0.80 |
| EPS Growth % | 2653.91% | -51.66% | -20.83% | 11.82% | 26.73% | 51% | 8.11% | -59.71% | -63.14% | -62.55% | -76.88% | -3.19% | 176.77% | 214.12% | 458.14% | 252.5% | 30.26% | 3.66% | 17.81% | 12.68% |
| EPS (Basic) | 36.46 | 0.76 | 0.98 | 1.26 | 1.31 | 1.55 | 1.23 | 1.12 | 1.03 | 1.02 | 1.11 | 2.76 | 2.77 | 2.71 | 4.86 | 2.83 | 1.02 | 0.87 | 0.87 | 0.81 |
| Diluted Shares Outstanding | 15.84M | 15.8M | 15.76M | 15.73M | 15.7M | 15.65M | 15.62M | 15.57M | 15.51M | 15.54M | 15.48M | 15.46M | 15.47M | 15.53M | 15.49M | 15.32M | 15.5M | 15.4M | 15.36M | 15.34M |
| Basic Shares Outstanding | 15.31M | 15.31M | 15.31M | 15.31M | 15.31M | 15.3M | 15.3M | 15.3M | 15.3M | 15.3M | 15.3M | 15.3M | 15.3M | 15.3M | 15.3M | 15.29M | 15.29M | 15.29M | 15.29M | 15.29M |
| Dividend Payout Ratio | 5.17% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.64% | - | - | - |