Formula Systems (1985) LTD income statement

In fiscal 2025, Formula Systems (1985) LTD reported revenue of $2.63bn, up 18.4% on the year before and net income of $606m, or $38.39 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Formula Systems (1985) LTD: income 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
Revenue	973	1,109	1,355	1,493	1,701	1,934	2,404	2,572	2,110	2,218	2,627
Cost of revenue	741	850	1,058	1,160	1,315	1,486	1,841	1,950	1,689	1,773	2,108
Gross profit	232	259	297	333	386	447	564	622	421	446	519
Research and development	15	22	40	41	47	53	66	72	14	18	20
Operating income	76	89	73	110	138	171	—	—	—	—	—
Interest expense	—	−1	−0	—	—	—	—	—	7	7	7
Income before tax	66	77	53	101	120	144	—	257	133	159	146
Income tax	16	21	13	24	27	31	43	55	32	39	40
Net income	20	22	10	32	39	47	55	81	64	80	606
Diluted EPS	$1.33	$1.49	$0.68	$2.14	$2.44	$3.01	$3.50	$5.21	$4.12	$5.09	$38.39
Diluted shares (average)	—	—	—	—	—	—	—	16m	15m	16m	16m
EBITDA	106	121	116	158	225	266	—	—	—	—	—

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

Compare with peers

Head to head: FORTY vs GLOB EXLS vs FORTY FORTY vs UIS

More: IT Consulting & Other Services stocks compared, Technology sector, rankings of US companies

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.