FORTYNasdaqServices-Computer Programming ServicesFiscal year ends December 31
FORMULA SYSTEMS (1985) LTD
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on May 13, 2026
$114.28−0.32 (-0.28%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 3.0
- Dividend yield
- –
FORMULA SYSTEMS (1985) LTD revenue by segment
By business segment
By product or service
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Adjustments [Member] | $2.63B | $2.22B | $2.11B | -$83.79M | -$89.76M | -$80.09M | -$91.20M | -$66.15M | – | – | 100.0% | +18.4% |
| Matrix and its subsidiaries [Member] | $1.81B | $1.51B | $1.42B | $1.39B | $1.34B | $1.12B | $1.01B | $878.19M | – | – | 69.0% | +20.2% |
| Sapiens and its subsidiaries [Member] | $626.30M | $552.52M | $535.05M | $474.74M | $461.04M | $382.90M | $325.67M | $289.71M | – | – | 23.8% | +13.4% |
| ZAP Group [Member] | $220.75M | $170.42M | $157.19M | $49.89M | $51.64M | – | – | – | – | – | 8.4% | +29.5% |
| Magic Software [Member] | $57.64M | $42.98M | $36.91M | $566.79M | $477.64M | $368.36M | $322.40M | $282.21M | – | – | 2.2% | +34.1% |
| Michpal [Member] | $38.43M | $38.07M | $45.29M | $38.02M | $32.09M | $26.24M | $21.27M | – | – | – | 1.5% | +0.9% |
| Other [Member] | -$129.53M | -$94.01M | -$83.85M | $133.89M | $127.64M | $120.33M | $117.25M | $109.04M | – | – | -4.9% | +37.8% |
By region
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Israel | $2.09B | $1.73B | $1.58B | $1.57B | $1.51B | – | – | – | – | – | 79.7% | +21.3% |
| United States | $435.80M | $387.86M | $435.18M | $680.33M | $591.79M | – | – | – | – | – | 16.6% | +12.4% |
| Europe [Member] | $83.87M | $88.00M | $81.58M | $262.30M | $255.68M | – | – | – | – | – | 3.2% | -4.7% |
| Japan | $11.92M | $12.67M | $10.85M | $11.33M | $12.89M | – | – | – | – | – | 0.5% | -5.9% |
| Zimbabwe | $2.69M | $4.13M | $4.14M | $20.67M | $19.43M | – | – | – | – | – | 0.1% | -34.9% |
| Insync [Member] | – | – | – | – | – | – | – | – | $38.99M | $34.32M | – | – |
| Other [Member] | – | – | – | – | – | – | – | $109.04M | $105.61M | $72.59M | – | – |
| Matrix and its subsidiaries [Member] | – | – | – | – | – | – | $1.01B | $881.06M | $794.63M | $662.59M | – | – |
| Sapiens and its subsidiaries [Member] | – | – | – | – | – | – | $325.67M | $289.71M | $269.19M | $216.19M | – | – |
| Magic Software [Member] | – | – | – | – | – | – | $325.63M | $284.38M | $258.14M | $201.65M | – | – |
| Michpal [Member] | – | – | – | – | – | – | – | – | $5.85M | – | – | – |
| Other [Member] | – | – | – | – | – | – | $132.18M | – | – | – | – | – |
| United States [Member] | – | – | – | – | – | – | – | $418.15M | $322.89M | $283.30M | – | – |
| Israel [Member] | – | – | – | – | – | – | – | $893.61M | $846.30M | $663.34M | – | – |
| Japan [Member] | – | – | – | – | – | – | – | $11.05M | $15.76M | $38.31M | – | – |
| Europe [Member] | – | – | – | $262.30M | $255.68M | $189.15M | $145.56M | $141.32M | $131.03M | $115.44M | – | – |
| Africa [Member] | – | – | – | $26.69M | $18.01M | $11.70M | $15.34M | $13.73M | $24.37M | $2.30M | – | – |
| Other (mainly Asia pacific) [Member] | – | – | – | $20.67M | $19.43M | $13.89M | $15.22M | $15.14M | $14.79M | – | – | – |
| Israel [Member] | – | – | – | $1.57B | $1.51B | $1.20B | $1.05B | $893.61M | – | – | – | – |
| Japan [Member] | – | – | – | $11.33M | $12.89M | $14.28M | $14.93M | $11.05M | – | – | – | – |
| United States [Member] | – | – | – | $680.33M | $591.79M | $501.79M | $462.80M | $418.15M | – | – | – | – |
| Africa [Member] | – | $26.94M | $26.04M | $26.69M | $18.01M | – | – | – | – | – | – | – |
From the segment and revenue-disaggregation notes of Formula Systems (1985)'s 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.