Formula Z Score
FORTY Stock  USD 71.75 3.71 5.45% 
Formula  Z Score 
Formula Z Score Analysis
Formula Systems' ZScore is a simple linear, multifactor model that measures the financial health and economic stability of a company. The score is used to predict the probability of a firm going into bankruptcy within next 24 months or two fiscal years from the day stated on the accounting statements used to calculate it. The model uses five fundamental business ratios that are weighted according to algorithm of Professor Edward Altman who developed it in the late 1960s at New York University..
More About Z Score  All Equity Analysis
2020  2021  2022  2023 (projected)  
Current Assets  1.16 B  1.3 B  1.37 B  1.18 B 
Total Assets  2.52 B  2.75 B  2.79 B  2.46 B 
Z Score  =  Sum Of   5 Factors 
Current Formula Systems Z Score  3.05 
Most of Formula Systems' fundamental indicators, such as Z Score, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Formula Systems 1985 is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
 
 
 
 

Formula Z Score Driver Correlations
Understanding the fundamental principles of building solid financial models for Formula Systems is extremely important. It helps to project a fair market value of Formula Stock properly, considering its historical fundamentals such as Z Score. Since Formula Systems' main accounts across its financial reports are all linked and dependent on each other, it is essential to analyze all possible correlations between related accounts. However, instead of reviewing all of Formula Systems' historical financial statements, investors can examine the correlated drivers to determine its overall health. This can be effectively done using a conventional correlation matrix of Formula Systems' interrelated accounts and indicators.
Click cells to compare fundamentals
To calculate a ZScore, one would need to know a company's current working capital, its total assets and liabilities, and the amount of its latest earnings as well as earnings before interest and tax. ZScores can be used to compare the odds of bankruptcy of companies in a similar line of business or firms operating in the same industry. Companies with ZScores above 3.1 are generally considered to be stable and healthy with a low probability of bankruptcy. Scores that fall between 1.8 and 3.1 lie in a socalled 'grey area,' with scores of less than 1 indicating the highest probability of distress. Z Score is a used widely measure by financial auditors, accountants, money managers, loan processors, wealth advisers, and day traders. In the last 25 years, many financial models that utilize zscores proved it to be successful as a predictor of corporate bankruptcy.
Competition 
According to the company's disclosures, Formula Systems 1985 has a Z Score of 3.05. This is 77.32% lower than that of the IT Services sector and 60.8% lower than that of the Information Technology industry. The z score for all United States stocks is 65.02% higher than that of the company.
Formula Z Score Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Formula Systems' direct or indirect competition against its Z Score to detect undervalued stocks with similar characteristics or determine the stocks which would be a good addition to a portfolio. Peer analysis of Formula Systems could also be used in its relative valuation, which is a method of valuing Formula Systems by comparing valuation metrics of similar companies.Formula Systems is currently under evaluation in z score category among related companies.
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  249.38 M  279.15 M  230.46 M  
Earnings Before Interest Taxes and Depreciation Amortization USD  121.25 M  175.4 M  203 M  249.38 M  279.15 M  230.46 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  262.88 M  181.19 M  203.6 M  169.81 M  
Invested Capital  460.73 M  763.22 M  812.38 M  853.7 M  871.88 M  769.46 M  
Invested Capital Average  430.55 M  747.13 M  808.31 M  846.26 M  852.94 M  763.85 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  370.51 M  352.26 M 
Formula Systems Institutional Holders
Institutional Holdings refers to the ownership stake in Formula Systems that is held by large financial organizations, pension funds or endowments. Institutions may purchase large blocks of Formula Systems' outstanding shares and can exert considerable influence upon its management. Institutional holders may also work to push the share price higher once they own the stock. Extensive social media coverage, TV shows, articles in highprofile magazines, and presentations at investor conferences help move the stock higher, increasing Formula Systems' value.Last Transaction  Type  Shares  Value  
Jane Street Group Llc  20221231  Common Shares  13.4 K  946.5 K  
Altshuler Shaham Ltd  20230331  Common Shares  13.4 K  880.2 K  
Ghp Investment Advisors Inc  20230331  Common Shares  7 K  456.9 K  
Tfg Advisers Llc  20230331  Common Shares  6.9 K  450.4 K  
Dimensional Fund Advisors Lp  20230331  Common Shares  4.3 K  282.8 K  
Naples Global Advisors Llc  20220930  Common Shares  2.8 K  231 K  
Morgan Stanley  20230331  Common Shares  2.9 K  191.7 K  
Blackrock Inc  20230331  Common Shares  1 K  67.5 K  
Bank Of America Corp  20230331  Common Shares  1000  65.6 K  
Ubs Group Ag  20230331  Common Shares  620  40.7 K  
Fmr Llc  20230331  Common Shares  221  14.5 K 
Formula Fundamentals
Return On Equity  0.17 %  
Return On Asset  0.05 %  
Profit Margin  0.0316 %  
Operating Margin  0.09 %  
Current Valuation  1.43 B  
Shares Outstanding  15.33 M  
Shares Owned by Insiders  5.94 %  
Shares Owned by Institutions  3.95 %  
Number of Shares Shorted  1.01 K  
Price to Earning  27.39 X  
Price to Book  2.11 X  
Price to Sales  0.46 X  
Revenue  2.57 B  
Gross Profit  622.47 M  
EBITDA  232.38 M  
Net Income  199.67 M  
Cash and Equivalents  451.47 M  
Cash per Share  29.52 X  
Total Debt  421.51 M  
Debt to Equity  0.57 %  
Current Ratio  1.32 X  
Book Value Per Share  36.03 X  
Cash Flow from Operations  239.14 M  
Short Ratio  2.57 X  
Earnings Per Share  5.18 X  
Number of Employees  22.06 K  
Beta  0.46  
Market Capitalization  1.05 B  
Total Asset  2.79 B  
Retained Earnings  419.45 M  
Working Capital  370.13 M  
Current Asset  357.48 M  
Current Liabilities  211.81 M  
Z Score  3.05  
Annual Yield  0.0183 %  
Five Year Return  1.41 %  
Net Asset  2.79 B 
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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Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as Formula Systems 1985 using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.Build Optimal Portfolios
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Check out Formula Systems Piotroski F Score and Formula Systems Valuation analysis. You can also try the Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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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 (0.023)  Earnings Share 5.18  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 if Formula Systems is a good investment 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.