← FORMULA SYSTEMS (1985) LTD
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | — | — | — | — | — | — | — | — | — | — | |
| Trade And Other Receivables | — | — | — | — | — | — | — | $721.0m | $803.2m | — | |
| Cash and cash equivalents | — | $245.9m | $268.5m | $368.7m | $501.6m | $485.4m | $544.3m | $451.9m | $507.8m | $1.3b | |
| Trade receivables, (net from expected credit losses of $14,942 and $18,106 as of December 31, 2025 and 2024, respectively) | — | $385.8m | $441.5m | $486.0m | $519.9m | $696.3m | $702.7m | $721.0m | $803.2m | $774.5m | |
| Prepaid expenses and other accounts receivable | — | $16.6m | $23.1m | $65.7m | $83.8m | $72.1m | $64.5m | $84.7m | $89.9m | $80.6m | |
| Long-term investments and receivables | — | — | — | — | — | $23.7m | $39.0m | $52.0m | $54.6m | $50.1m | |
| Inventory, Net | — | $3.3m | $3.9m | $8.6m | $24.0m | $21.2m | $35.2m | $42.0m | $30.7m | $30.2m | |
| Assets, Current | — | — | — | — | — | — | — | — | — | — | |
| Total current assets | — | $694.8m | $781.0m | $965.5m | $1.2b | $1.3b | $1.4b | $1.4b | $1.5b | $2.2b | |
| Property, Plant and Equipment, Net | — | $29.8m | $29.2m | $43.1m | $59.2m | $56.9m | $55.0m | $52.9m | $51.8m | $47.6m | |
| Goodwill | $495.4m | $617.3m | $640.9m | $724.2m | $872.4m | $932.9m | $926.2m | $936.6m | $975.1m | $646.2m | |
| Intangible Assets, Net (Excluding Goodwill) | — | — | — | — | — | — | — | — | — | — | |
| Intangible Assets Other Than Goodwill | $128.4m | $164.0m | $150.0m | $165.3m | $222.3m | $241.9m | $222.7m | $206.9m | $217.1m | — | |
| Intangible assets, net | — | $164.0m | $150.0m | $165.3m | $222.3m | $241.9m | $222.7m | $206.9m | $217.1m | $147.6m | |
| Right-of-use assets | — | — | — | $104.1m | $114.4m | $115.8m | $116.8m | $120.7m | $156.2m | $145.5m | |
| Additional Financial Items | |||||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | — | — | — | — | — | — | — | — | — | — | |
| Allowance Account For Credit Losses Of Financial Assets | — | — | — | — | — | — | — | $14.3m | — | — | |
| Current Financial Assets At Fair Value Through Profit Or Loss | — | — | — | — | — | — | $4.9m | $4.7m | $4.7m | — | |
| Deferred Tax Assets | — | — | — | $38.9m | $39.8m | $46.4m | $42.0m | $46.9m | $33.9m | — | |
| Issued Capital | $4.2m | $4.2m | $4.2m | $4.3m | $4.3m | $4.3m | $4.3m | $4.4m | $4.4m | — | |
| Trade And Other Current Payables | — | — | — | — | — | — | — | — | $98.0m | — | |
| Trade And Other Current Receivables | — | — | — | — | — | — | $5.4m | $7.8m | $7.9m | — | |
| Short-term deposits | — | $735k | $16.9m | $29.9m | $30.3m | $25.9m | $24.0m | $76.2m | $55.4m | $372k | |
| Financial assets measured at fair value through profit or loss | — | — | — | — | — | — | — | — | $4.7m | $304.5m | |
| Investments in companies accounted for at equity | — | $25.3m | $25.7m | $26.0m | $28.3m | $28.9m | $20.7m | $20.8m | $39.2m | $48.9m | |
| Deferred taxes | — | $36.6m | $34.8m | $53.9m | $68.4m | $78.1m | $59.5m | $59.2m | $42.9m | $83.4m | |
| Loans from banks and others | — | $135.6m | $139.5m | $162.1m | $180.3m | $157.2m | $115.9m | $90.9m | $62.7m | $68.3m | |
| Debentures | — | $133.7m | $114.9m | $175.4m | $203.1m | $205.0m | $305.6m | $231.5m | $188.1m | $118.7m | |
| Current maturities of lease liabilities | — | — | — | $35.7m | $32.1m | $41.7m | $45.5m | $44.1m | $45.2m | $42.9m | |
| Trade payables | — | $95.3m | $118.8m | $125.2m | $153.3m | $205.8m | $222.5m | $258.6m | $296.2m | $368.3m | |
| Employees and payroll accrual | — | $111.7m | $114.9m | $142.0m | $190.2m | $207.6m | $201.2m | $209.4m | $234.8m | $235.7m | |
| Dividend payable | — | — | $5.0m | $7.1m | — | — | — | — | — | $7.9m | |
| Liabilities in respect of business combinations | — | $6.8m | $5.6m | $8.4m | $8.7m | $7.8m | $27.1m | $8.0m | $8.8m | $13.3m | |
| Put options of non-controlling interests | — | $21.5m | $15.7m | $15.2m | $28.2m | $31.7m | $11.7m | $21.9m | $30.6m | $61.6m | |
| Lease liabilities | — | — | — | — | $91.2m | $84.8m | $79.0m | $84.6m | $119.6m | $107.8m | |
| Employee benefit liabilities | — | $9.0m | $8.9m | $11.6m | $15.1m | $12.6m | $9.1m | $10.4m | $10.2m | $5.5m | |
| Ordinary shares of NIS 1 par value - Authorized: 25,000,000 shares as of December 31, 2025 and 2024; Issued: 15,901,287 shares as of December 31, 2025 and 2024; Outstanding: 15,332,667 shares as of December 31, 2025 and 2024. | — | 4.2m | 4.2m | 4.3m | 4.3m | 4.3m | 4.3m | 4.4m | 4.4m | 4.4m | |
| Treasury shares (568,620 shares as of December 31, 2025 and 2024) | — | ($259k) | ($259k) | $259k | ($259k) | ($259k) | ($259k) | ($259k) | ($259k) | ($259k) | |
| Total non-current assets | — | $32.5m | $37.3m | $61.1m | — | $1.4b | $1.4b | $1.4b | $1.5b | $1.4b | |
| Total long-term liabilities | — | $357.8m | $333.1m | $521.5m | $631.6m | $621.2m | $616.0m | $518.8m | $487.1m | $475.1m | |
| Total equity attributable to Formula Systems (1985) Ltd. shareholders | — | $359.2m | $367.6m | $421.6m | $503.2m | $541.0m | $551.9m | $625.8m | $679.3m | $1.4b | |
| Total equity | — | $772.9m | $805.4m | $896.3m | $1.1b | $1.2b | $1.2b | $1.3b | $1.4b | $1.8b | |
| Total Assets | $1.4b | $1.6b | $1.7b | $2.1b | $2.5b | $2.7b | $2.8b | $2.8b | $3.0b | $3.6b | |
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Long-term Debt, Excluding Current Maturities | — | — | — | — | — | — | — | — | — | — | |
| Deferred Revenue, Current | — | $9.3m | $4.9m | $6.5m | $16.6m | $17.8m | $8.9m | $4.9m | $12.5m | $16.5m | |
| Deferred Revenue, Noncurrent | — | $9.3m | $4.9m | $6.5m | $16.6m | $17.8m | $8.9m | $4.9m | $12.5m | $16.5m | |
| Dividends Payable, Current | — | — | — | — | — | — | — | — | — | — | |
| Dividends Payable | — | — | — | — | — | — | — | — | — | — | |
| Other accounts payable | — | $53.1m | $54.0m | $63.2m | $69.0m | $80.4m | $86.3m | $73.1m | $98.0m | $195.8m | |
| Liabilities, Current | — | — | — | — | — | — | — | — | — | — | |
| Total current liabilities | — | $432.9m | $525.7m | $671.4m | $779.9m | $947.6m | $1.0b | $985.7m | $1.1b | $1.3b | |
| Other Liabilities, Noncurrent | — | — | — | — | — | — | — | — | — | — | |
| Deferred Tax Liability Asset | ($15.8m) | ($20.7m) | ($20.6m) | ($15.0m) | ($28.6m) | ($82.3m) | ($39.3m) | ($36.0m) | $9.0m | — | |
| Other long-term liabilities | — | $7.2m | $8.7m | $8.3m | $12.2m | $12.2m | $14.1m | $12.7m | $11.7m | $54k | |
| Deferred Tax Liabilities, Net | $31.0m | $36.6m | $34.8m | $53.9m | ($68.4m) | $78.1m | $59.5m | $59.2m | $42.9m | — | |
| Increase Decrease Through Net Exchange Differences Deferred Tax Liability Asset | — | — | — | — | — | — | $1k | — | — | — | |
| Total Liabilities | $56.7m | $59.6m | $63.6m | $14.0m | — | — | — | — | — | — | |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | — | — | — | — | — | — | — | — | — | — | |
| Stockholders’ equity: | |||||||||||
| Common Stock, Value, Issued | — | — | — | — | — | — | — | — | — | — | |
| Retained Earnings (Accumulated Deficit) | — | $239.2m | $262.6m | $285.1m | $324.4m | $358.3m | $419.4m | $475.2m | $536.0m | $1.1b | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | — | — | — | — | — | — | — | — | — | — | |
| Additional Paid in Capital, Common Stock | — | — | — | — | — | — | — | — | — | — | |
| Additional paid-in capital | — | $98.0m | $98.0m | $120.7m | $149.2m | $153.0m | $145.4m | $157.5m | $152.7m | $166.2m | |
| Accumulated other comprehensive income | — | $18.1m | $3.1m | $11.7m | $25.5m | $25.5m | ($17.0m) | ($11.0m) | ($13.4m) | $77.3m | |
| Stockholders' Equity Attributable to Parent | — | — | — | — | — | — | — | — | — | — | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | — | — | — | — | — | — | — | — | — | |
| Noncontrolling Interests | $387.5m | $413.7m | $437.8m | $474.7m | $605.3m | $638.8m | $625.0m | $682.4m | $710.0m | $424.5m | |
| Liabilities and Equity | — | — | — | — | — | — | — | — | — | — | |
| Total liabilities and equity | — | $1.6b | $1.7b | $2.1b | $2.5b | $2.7b | $2.8b | $2.8b | $3.0b | $3.6b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.