Formula Piotroski F Score

Stocks . USA . 
Stock . Formula Systems 1985
FORTY Stock  USD 65.22  1.52  2.39%   
This module uses fundamental data of Formula Systems to approximate its Piotroski F score. Formula Systems F Score is determined by combining nine binary scores representing 3 distinct fundamental categories of Formula Systems 1985. These three categories are profitability, efficiency, and funding. Some research analysts and sophisticated value traders use Piotroski F Score to find opportunities outside of the conventional market and financial statement analysis.They believe that some of the new information about Formula Systems financial position does not get reflected in the current market share price suggesting a possibility of arbitrage. Please check Formula Systems Altman Z Score, Formula Systems Correlation, Formula Systems Valuation, as well as analyze Formula Systems Alpha and Beta and Formula Systems Hype Analysis.
  
Total Debt is likely to drop to about 634 M in 2023. Debt Current is likely to drop to about 216.4 M in 2023. Formula Systems Asset Turnover is fairly stable at the moment as compared to the past year. Formula Systems reported Asset Turnover of 0.94 in 2022. Current Ratio is likely to rise to 1.40 in 2023, whereas Book Value per Share is likely to drop 34.41 in 2023.
At this time, it appears that Formula Systems' Piotroski F Score is Strong. Although some professional money managers and academia have recently criticized Piotroski F-Score model, we still consider it an effective method of predicting the state of the financial strength of any organization that is not predisposed to accounting gimmicks and manipulations. Using this score on the criteria to originate an efficient long-term portfolio can help investors filter out the purely speculative stocks or equities playing fundamental games by manipulating their earnings..
7.0
Piotroski F Score - Strong
1
Current Return On AssetsPositiveFocus
2
Change in Return on AssetsDecreasedFocus
3
Cash Flow Return on AssetsPositiveFocus
4
Current Quality of Earnings (accrual)ImprovingFocus
5
Asset Turnover GrowthIncreaseFocus
6
Current Ratio ChangeIncreaseFocus
7
Long Term Debt Over Assets ChangeLower LeverageFocus
8
Change In Outstending SharesIncreaseFocus
9
Change in Gross MarginIncreaseFocus

Formula Systems Piotroski F Score Drivers

The critical factor to consider when applying the Piotroski F Score to Formula Systems is to make sure Formula is not a subject of accounting manipulations and runs a healthy internal audit department. So, if Formula Systems' auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back. Below are the main accounts that are used in the Piotroski F Score model. By analyzing the historical trends of the mains drivers, investors can determine if Formula Systems' financial numbers are properly reported.
Current ValueLast YearChange From Last Year 10 Year Trend
Weighted Average Shares Diluted16.8 M15.5 M
Significantly Up
Up
Slightly volatile
Weighted Average Shares16.5 M15.3 M
Significantly Up
Up
Slightly volatile
Return on Average Assets0.02950.03
Fairly Down
Down
Slightly volatile
Net Cash Flow from Operations194.2 M239.8 M
Significantly Down
Up
Slightly volatile
Current Liabilities827.9 M1 B
Significantly Down
Up
Slightly volatile
Total Liabilities1.4 B1.6 B
Fairly Down
Up
Slightly volatile
Gross Margin0.260.242
Notably Up
Up
Pretty Stable
Total Debt634 M772.7 M
Significantly Down
Up
Slightly volatile
Asset Turnover1.00.942
Notably Up
Up
Slightly volatile
Current Assets1.2 B1.4 B
Fairly Down
Up
Slightly volatile
Total Assets2.5 B2.8 B
Fairly Down
Up
Slightly volatile

Formula Systems 1985 F Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to project the various growth rates. Understanding the correlation between Formula Systems' different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Formula Systems in a much-optimized way.
Click cells to compare fundamentals

About Formula Systems Piotroski F Score

F-Score is one of many stock grading techniques developed by Joseph Piotroski, a professor of accounting at the Stanford University Graduate School of Business. It was published in 2002 under the paper titled Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers. Piotroski F Score is based on binary analysis strategy in which stocks are given one point for passing 9 very simple fundamental tests, and zero point otherwise. According to Mr. Piotroski's analysis, his F-Score binary model can help to predict the performance of low price-to-book stocks.

Book Value per Share

34.41

Formula Systems Book Value per Share is fairly stable at the moment as compared to the past year. Formula Systems reported Book Value per Share of 36.08 in 2022

Formula Systems Current Valuation Drivers

We derive many important indicators used in calculating different scores of Formula Systems from analyzing Formula Systems' financial statements. These drivers represent accounts that assess Formula Systems' ability to generate profits relative to its revenue, operating costs, and shareholders' equity. Below are some of Formula Systems' important valuation drivers and their relationship over time.
201820192020202120222023 (projected)
Average Assets1.62 B2 B2.26 B2.6 B2.73 B2.37 B
Earnings Before Interest Taxes and Depreciation Amortization EBITDA121.25 M175.4 M203 M243.39 M279.9 M222.7 M
Earnings Before Interest Taxes and Depreciation Amortization USD121.25 M175.4 M203 M243.39 M279.9 M222.7 M
Earnings before Tax56.67 M66.02 M78.05 M97.2 M136.63 M111.25 M
Average Equity365.59 M412.98 M449.79 M519.51 M544.64 M509.82 M
Enterprise Value657.52 M1.25 B1.54 B2.18 B1.39 B1.24 B
Free Cash Flow62.58 M165.55 M261.68 M180.58 M207.67 M166.32 M
Invested Capital460.73 M763.22 M812.38 M853.7 M873.39 M770.33 M
Invested Capital Average430.55 M747.13 M808.31 M846.26 M853.32 M764.07 M
Market Capitalization525.29 M999.79 M1.31 B1.9 B1.08 B1.01 B
Tangible Asset Value873.33 M1.2 B1.43 B1.57 B1.65 B1.42 B
Working Capital255.57 M294.11 M380.97 M354.52 M370.13 M352.05 M

About Formula Systems Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Formula Systems 1985's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Formula Systems using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Formula Systems 1985 based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Formula Systems Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, and computer infrastructure and integration solutions worldwide. Formula Systems Ltd. was incorporated in 1985 and is headquartered in Or Yehuda, Israel. Formula Sys operates under Information Technology Services classification in the United States and is traded on NASDAQ Exchange. It employs 20333 people.

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Please check Formula Systems Altman Z Score, Formula Systems Correlation, Formula Systems Valuation, as well as analyze Formula Systems Alpha and Beta and Formula Systems Hype Analysis. You can also try Stock Screener module to find equities using custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..

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Is Formula Systems' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Formula Systems. If investors know Formula will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Formula Systems listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth
(0.021) 
Earnings Share
5.21
Revenue Per Share
168.172
Quarterly Revenue Growth
(0.036) 
Return On Assets
0.0524
The market value of Formula Systems 1985 is measured differently than its book value, which is the value of Formula that is recorded on the company's balance sheet. Investors also form their own opinion of Formula Systems' value that differs from its market value or its book value, called intrinsic value, which is Formula Systems' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Formula Systems' market value can be influenced by many factors that don't directly affect Formula Systems' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
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Please note, there is a significant difference between Formula Systems' value and its price as these two are different measures arrived at by different means. Investors typically determine Formula Systems value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Formula Systems' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.


 
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