Formula Systems (1985) LTD cash flow statement

In fiscal 2025, Formula Systems (1985) LTD's operations generated $382m of cash; it spent $16.2m on capital projects, leaving free cash flow of $366m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Formula Systems (1985) LTD: cash flow statement, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash from operations	87	75	81	83	196	288	209	239	295	324	382
Depreciation and amortisation	30	32	44	49	87	96	122	115	51	49	79
Stock-based pay	5	4	5	4	4	8	15	15	19	16	31
Capital spending	7	9	10	12	22	17	17	22	17	16	16
Free cash flow	80	66	72	71	174	271	192	217	278	308	366
Free cash flow after stock pay	75	61	67	67	170	264	177	202	260	292	335

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Formula Systems (1985) LTD's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Formula Systems (1985) LTD.