Market cap
$1,928 Mln
Revenue (TTM)
$2,933 Mln
P/E Ratio
26.7
P/B Ratio
1.6
Div. Yield
2.1 %
Key Ratios and Highlights
| Growth Score (%) | Quarterly | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | QoQ | YoY | 1-Year | 3-Years | 5-Years |
| Revenue | 5.98 | 3.04 | 6.02 | 4.27 | 6.01 |
| EBIT | -- | -- | -38.87 | -7.17 | -2.21 |
| Net Profit | 173.01 | 278.76 | 1,580.32 | 295.03 | -24.08 |
| EPS | -34.72 | 50.55 | 704.00 | 88.96 | 64.95 |
| Book Value | -- | -- | 97.46 | 33.80 | 21.05 |
| Key Ratios (%) | Average | Annual (TTM) | |||
|---|---|---|---|---|---|
| Particulars | 3-Years | 5-Years | TTM | Dec-25 | Dec-24 |
| EBIT-Margin
| 8.09 | 8.68 | 5.77 | 7.12 | 8.02 |
| Net Margin
| -- | -- | 21.63 | -- | -- |
| Return on equity
| 8.63 | 10.25 | 46.57 | 2.79 | 12.27 |
| Return on Capital
| 4.20 | 4.68 | -- | 1.71 | 6.01 |
| Return on Assets
| 1.96 | 2.18 | 12.87 | 0.86 | 2.75 |
| Debt to Equity (x)
| -- | -- | 0.00 | 0.44 | 1.01 |
Profitability
ROCE
--
--
Earning before interest and taxes / (Average net worth + Average total Debt) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
--
|
1.71
|
6.01
|
4.87
|
6.31
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
ROE
46.57
Higher than Peers by 35.34
Profit after tax / Average Net worth * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
46.57
|
2.79
|
12.27
|
10.84
|
14.90
|
|
Peer Median
|
11.23
|
--
|
--
|
--
|
--
|
ROA
12.87
Higher than Peers by 9.06
Profit after tax / Average Total assets * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
12.87
|
0.86
|
2.75
|
2.28
|
2.94
|
|
Peer Median
|
3.81
|
--
|
--
|
--
|
--
|
EBIT Margin
5.77
Lower than Peers by 3.68
Operating profit (EBIT) / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
5.77
|
7.12
|
8.02
|
9.13
|
10.70
|
|
Peer Median
|
9.44
|
--
|
--
|
--
|
--
|
Net Margin
21.63
Higher than Peers by 11.93
Net profit / Total Income (Net sales plus other income) * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
21.63
|
1.07
|
3.59
|
2.44
|
3.16
|
|
Peer Median
|
9.70
|
--
|
--
|
--
|
--
|
Revenue Growth
6.02
Lower than Peers by 9.20
Year on year growth in net sales
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
6.02
|
0.19
|
-0.15
|
0.02
|
0.07
|
|
Peer Median
|
15.21
|
--
|
--
|
--
|
--
|
EBIT Growth
-38.87
Lower than Peers by 69.23
Year on year growth in operating profit (EBIT)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
-38.87
|
5.50
|
-25.11
|
-13.23
|
36.16
|
|
Peer Median
|
30.36
|
--
|
--
|
--
|
--
|
Net Profit Growth
1,580.32
Higher than Peers by 1,548.63
Year on year growth in profit after tax
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
1,580.32
|
-64.54
|
25.37
|
-21.55
|
49.11
|
|
Peer Median
|
31.69
|
--
|
--
|
--
|
--
|
EPS Growth
704.00
Higher than Peers by 642.48
Year on year growth in earnings per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
704.00
|
-0.65
|
0.24
|
-0.22
|
0.49
|
|
Peer Median
|
61.52
|
--
|
--
|
--
|
--
|
Book Value Growth
65.98
Higher than Peers by 44.37
Year on year growth in book value per share
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
65.98
|
--
|
--
|
--
|
--
|
|
Peer Median
|
21.61
|
--
|
--
|
--
|
--
|
Solvency
Debt to Equity
--
--
Total debt / Net worth
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
--
|
0.44
|
1.01
|
1.07
|
1.40
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Short term debt to equity ratio
0.28
--
(Short term borrowings / Net worth)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
0.28
|
0.22
|
0.47
|
0.42
|
0.49
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Current Ratio
1.48
Lower than Peers by 0.13
Current Assets / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
1.48
|
1.63
|
1.30
|
1.40
|
1.37
|
|
Peer Median
|
1.61
|
--
|
--
|
--
|
--
|
Quick Ratio
1.44
Lower than Peers by 0.14
(Current Assets - Inventory) / Current Liabilities and Provisions
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
1.44
|
1.61
|
1.28
|
1.35
|
1.33
|
|
Peer Median
|
1.58
|
--
|
--
|
--
|
--
|
Interest Coverage
5.97
Lower than Peers by 8.17
Earning before interest and taxes (EBIT) / Interest Expenses
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
5.97
|
6.15
|
6.77
|
6.24
|
14.93
|
|
Peer Median
|
14.14
|
--
|
--
|
--
|
--
|
Operating Efficiency
Debtors to sales
32.29
Higher than Peers by 14.47
Debtors outstanding / Net Sales * 100
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
32.29
|
29.25
|
37.61
|
27.58
|
28.19
|
|
Peer Median
|
17.82
|
--
|
--
|
--
|
--
|
Asset Turnover
0.59
Higher than Peers by 0.16
Sales / Average Total Assets
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
0.59
|
0.80
|
0.77
|
0.93
|
0.93
|
|
Peer Median
|
0.43
|
--
|
--
|
--
|
--
|
Receivable days
--
--
Average Debtors / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
--
|
111.22
|
127.75
|
101.02
|
102.56
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Inventory Days
--
--
Average Inventory / Sales * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
--
|
5.07
|
7.26
|
7.15
|
5.28
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Payable days
--
--
Average Creditors / Cost of goods sold * 365
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
--
|
54.90
|
54.99
|
44.55
|
40.12
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Cash Conversion Cycle
--
--
Receivable Days + Inventory Days - Payable Days
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
--
|
61.39
|
80.02
|
63.62
|
67.73
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Valuation
Price / Earnings
26.69
Lower than Peers by 23.51
Current share price divided by earning per share in the last twelve months
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
26.69
|
93.17
|
17.45
|
15.86
|
13.47
|
|
Peer Median
|
50.20
|
--
|
--
|
--
|
--
|
Price / Book Value
1.60
Lower than Peers by 6.08
Current share price divided by book value per share in the latest financial year
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
1.60
|
1.95
|
2.06
|
1.62
|
1.99
|
|
Peer Median
|
7.68
|
--
|
--
|
--
|
--
|
Dividend Yield
2.12
--
Dividend per share in the past twelve months divided by current share price
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
2.12
|
--
|
--
|
--
|
--
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
EV/EBITDA
7.40
--
Enterprise Value (Current Market Capitalisation + Total Debt - Cash & Equivalents) / Earnings before interest, taxes, depreciation and taxes (EBITDA)
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
7.40
|
5.72
|
5.17
|
3.20
|
3.33
|
|
Peer Median
|
--
|
--
|
--
|
--
|
--
|
Market Cap
1,928
Higher than Peers by 802
Current Share price multiplied by latest total number of shares outstanding
|
Company Name
|
TTM
|
Dec-25
|
Dec-24
|
Dec-23
|
Dec-22
|
|---|---|---|---|---|---|
|
Formula Systems (1985) - ADR
|
1,928
|
--
|
--
|
--
|
--
|
|
Peer Median
|
1,126
|
--
|
--
|
--
|
--
|