Formula Piotroski F Score
FORTY Stock  USD 65.22 1.52 2.39% 
Formula  Piotroski F Score 
At this time, it appears that Formula Systems' Piotroski F Score is Strong. Although some professional money managers and academia have recently criticized Piotroski FScore 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 longterm 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 Assets  Positive  Focus 
2  Change in Return on Assets  Decreased  Focus 
3  Cash Flow Return on Assets  Positive  Focus 
4  Current Quality of Earnings (accrual)  Improving  Focus 
5  Asset Turnover Growth  Increase  Focus 
6  Current Ratio Change  Increase  Focus 
7  Long Term Debt Over Assets Change  Lower Leverage  Focus 
8  Change In Outstending Shares  Increase  Focus 
9  Change in Gross Margin  Increase  Focus 
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 Value  Last Year  Change From Last Year  10 Year Trend  

Weighted Average Shares Diluted  16.8 M  15.5 M 

 
Weighted Average Shares  16.5 M  15.3 M 

 
Return on Average Assets  0.0295  0.03 

 
Net Cash Flow from Operations  194.2 M  239.8 M 

 
Current Liabilities  827.9 M  1 B 

 
Total Liabilities  1.4 B  1.6 B 

 
Gross Margin  0.26  0.242 

 
Total Debt  634 M  772.7 M 

 
Asset Turnover  1.0  0.942 

 
Current Assets  1.2 B  1.4 B 

 
Total Assets  2.5 B  2.8 B 


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 muchoptimized way.
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About Formula Systems Piotroski F Score
FScore 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 FScore binary model can help to predict the performance of low pricetobook stocks.Book Value per Share 

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.
2018  2019  2020  2021  2022  2023 (projected)  
Average Assets  1.62 B  2 B  2.26 B  2.6 B  2.73 B  2.37 B  
Earnings Before Interest Taxes and Depreciation Amortization EBITDA  121.25 M  175.4 M  203 M  243.39 M  279.9 M  222.7 M  
Earnings Before Interest Taxes and Depreciation Amortization USD  121.25 M  175.4 M  203 M  243.39 M  279.9 M  222.7 M  
Earnings before Tax  56.67 M  66.02 M  78.05 M  97.2 M  136.63 M  111.25 M  
Average Equity  365.59 M  412.98 M  449.79 M  519.51 M  544.64 M  509.82 M  
Enterprise Value  657.52 M  1.25 B  1.54 B  2.18 B  1.39 B  1.24 B  
Free Cash Flow  62.58 M  165.55 M  261.68 M  180.58 M  207.67 M  166.32 M  
Invested Capital  460.73 M  763.22 M  812.38 M  853.7 M  873.39 M  770.33 M  
Invested Capital Average  430.55 M  747.13 M  808.31 M  846.26 M  853.32 M  764.07 M  
Market Capitalization  525.29 M  999.79 M  1.31 B  1.9 B  1.08 B  1.01 B  
Tangible Asset Value  873.33 M  1.2 B  1.43 B  1.57 B  1.65 B  1.42 B  
Working Capital  255.57 M  294.11 M  380.97 M  354.52 M  370.13 M  352.05 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 nonproprietary 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.
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.