133.5 USD
+1.12 (+0.85%)
Last: Feb 10, 2026, 08:08 PM
Taking everything into account, FORTY scores 5 out of 10 in our fundamental rating. FORTY was compared to 87 industry peers in the IT Services industry. FORTY scores excellent on profitability, but there are some minor concerns on its financial health. FORTY is not valued too expensively and it also shows a decent growth rate. Finally FORTY also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- In the past year FORTY was profitable.
- In the past year FORTY had a positive cash flow from operations.
- Each year in the past 5 years FORTY has been profitable.
- FORTY had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- FORTY has a Return On Assets of 2.64%. This is comparable to the rest of the industry: FORTY outperforms 55.17% of its industry peers.
- With a decent Return On Equity value of 11.73%, FORTY is doing good in the industry, outperforming 71.26% of the companies in the same industry.
- FORTY's Return On Invested Capital of 11.20% is amongst the best of the industry. FORTY outperforms 81.61% of its industry peers.
- FORTY had an Average Return On Invested Capital over the past 3 years of 10.21%. This is in line with the industry average of 10.57%.
- The last Return On Invested Capital (11.20%) for FORTY is above the 3 year average (10.21%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.64% | ||
| ROE | 11.73% | ||
| ROIC | 11.2% |
ROA(3y)2.61%
ROA(5y)2.34%
ROE(3y)12.24%
ROE(5y)11.22%
ROIC(3y)10.21%
ROIC(5y)9.34%
1.3 Margins
- The Profit Margin of FORTY (2.89%) is comparable to the rest of the industry.
- FORTY's Profit Margin has improved in the last couple of years.
- FORTY has a better Operating Margin (9.81%) than 70.11% of its industry peers.
- In the last couple of years the Operating Margin of FORTY has grown nicely.
- FORTY's Gross Margin of 24.83% is on the low side compared to the rest of the industry. FORTY is outperformed by 68.97% of its industry peers.
- In the last couple of years the Gross Margin of FORTY has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 9.81% | ||
| PM (TTM) | 2.89% | ||
| GM | 24.83% |
OM growth 3Y4.28%
OM growth 5Y3.8%
PM growth 3Y8.37%
PM growth 5Y4.83%
GM growth 3Y1.92%
GM growth 5Y1.82%
2. Health
2.1 Basic Checks
- FORTY has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- The number of shares outstanding for FORTY remains at a similar level compared to 1 year ago.
- The number of shares outstanding for FORTY has been increased compared to 5 years ago.
- The debt/assets ratio for FORTY has been reduced compared to a year ago.
2.2 Solvency
- The Debt to FCF ratio of FORTY is 2.18, which is a good value as it means it would take FORTY, 2.18 years of fcf income to pay off all of its debts.
- With a decent Debt to FCF ratio value of 2.18, FORTY is doing good in the industry, outperforming 67.82% of the companies in the same industry.
- A Debt/Equity ratio of 0.55 indicates that FORTY is somewhat dependend on debt financing.
- FORTY has a Debt to Equity ratio of 0.55. This is comparable to the rest of the industry: FORTY outperforms 44.83% of its industry peers.
- Although FORTY does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 2.18 | ||
| Altman-Z | N/A |
ROIC/WACC1.52
WACC7.35%
2.3 Liquidity
- A Current Ratio of 1.31 indicates that FORTY should not have too much problems paying its short term obligations.
- FORTY has a Current ratio of 1.31. This is in the lower half of the industry: FORTY underperforms 67.82% of its industry peers.
- A Quick Ratio of 1.28 indicates that FORTY should not have too much problems paying its short term obligations.
- The Quick ratio of FORTY (1.28) is worse than 67.82% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.31 | ||
| Quick Ratio | 1.28 |
3. Growth
3.1 Past
- FORTY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 24.29%, which is quite impressive.
- FORTY shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 15.01% yearly.
- The Revenue has been growing slightly by 6.22% in the past year.
- FORTY shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 10.14% yearly.
EPS 1Y (TTM)24.29%
EPS 3Y12.87%
EPS 5Y15.01%
EPS Q2Q%11.82%
Revenue 1Y (TTM)6.22%
Revenue growth 3Y4.67%
Revenue growth 5Y10.14%
Sales Q2Q%8.06%
3.2 Future
- No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
- No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
- No EPS estimates are available, so we could not analyze the future EPS growth and evolution.
- No Revenue estimates are available, so we could not analyze the future revenue growth and evolution.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 24.95 indicates a rather expensive valuation of FORTY.
- FORTY's Price/Earnings is on the same level as the industry average.
- FORTY is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 28.18, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.95 | ||
| Fwd PE | N/A |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, FORTY is valued cheaper than 91.95% of the companies in the same industry.
- Based on the Price/Free Cash Flow ratio, FORTY is valued cheaper than 91.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.93 | ||
| EV/EBITDA | 5.37 |
4.3 Compensation for Growth
- The decent profitability rating of FORTY may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)1.66
EPS Next 2YN/A
EPS Next 3YN/A
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 2.27%, FORTY has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 0.50, FORTY pays a better dividend. On top of this FORTY pays more dividend than 89.66% of the companies listed in the same industry.
- Compared to an average S&P500 Dividend Yield of 1.80, FORTY pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.27% |
5.2 History
- On average, the dividend of FORTY grows each year by 7.28%, which is quite nice.
- FORTY has been paying a dividend for at least 10 years, so it has a reliable track record.
- FORTY has decreased its dividend recently.
Dividend Growth(5Y)7.28%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
- 23.61% of the earnings are spent on dividend by FORTY. This is a low number and sustainable payout ratio.
- FORTY's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP23.61%
EPS Next 2YN/A
EPS Next 3YN/A
NASDAQ:FORTY (2/10/2026, 8:08:29 PM)
133.5
+1.12 (+0.85%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)11-20 2025-11-20
Earnings (Next)03-18 2026-03-18
Inst Owners31.29%
Inst Owner Change-0.09%
Ins Owners12.1%
Ins Owner ChangeN/A
Market Cap2.05B
Revenue(TTM)2.81B
Net Income(TTM)79.67M
Analysts0
Price TargetN/A
Short Float %0%
Short Ratio0.08
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.27% |
Yearly Dividend1.23
Dividend Growth(5Y)7.28%
DP23.61%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)N/A
PT rev (3m)N/A
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)N/A
EPS NY rev (3m)N/A
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)N/A
Revenue NY rev (3m)N/A
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.95 | ||
| Fwd PE | N/A | ||
| P/S | 0.74 | ||
| P/FCF | 6.93 | ||
| P/OCF | 6.31 | ||
| P/B | 3.01 | ||
| P/tB | N/A | ||
| EV/EBITDA | 5.37 |
EPS(TTM)5.35
EY4.01%
EPS(NY)N/A
Fwd EYN/A
FCF(TTM)19.27
FCFY14.44%
OCF(TTM)21.16
OCFY15.85%
SpS179.85
BVpS44.31
TBVpS-33.45
PEG (NY)N/A
PEG (5Y)1.66
Graham Number73.03
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.64% | ||
| ROE | 11.73% | ||
| ROCE | 14.42% | ||
| ROIC | 11.2% | ||
| ROICexc | 16% | ||
| ROICexgc | 173.57% | ||
| OM | 9.81% | ||
| PM (TTM) | 2.89% | ||
| GM | 24.83% | ||
| FCFM | 10.72% |
ROA(3y)2.61%
ROA(5y)2.34%
ROE(3y)12.24%
ROE(5y)11.22%
ROIC(3y)10.21%
ROIC(5y)9.34%
ROICexc(3y)14.47%
ROICexc(5y)13.18%
ROICexgc(3y)118.48%
ROICexgc(5y)104.43%
ROCE(3y)13.53%
ROCE(5y)12.41%
ROICexgc growth 3Y7.37%
ROICexgc growth 5Y11.27%
ROICexc growth 3Y8.43%
ROICexc growth 5Y8.37%
OM growth 3Y4.28%
OM growth 5Y3.8%
PM growth 3Y8.37%
PM growth 5Y4.83%
GM growth 3Y1.92%
GM growth 5Y1.82%
F-Score7
Asset Turnover0.91
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.55 | ||
| Debt/FCF | 2.18 | ||
| Debt/EBITDA | 0.96 | ||
| Cap/Depr | 25.07% | ||
| Cap/Sales | 1.05% | ||
| Interest Coverage | 10.47 | ||
| Cash Conversion | 84.05% | ||
| Profit Quality | 370.9% | ||
| Current Ratio | 1.31 | ||
| Quick Ratio | 1.28 | ||
| Altman-Z | N/A |
F-Score7
WACC7.35%
ROIC/WACC1.52
Cap/Depr(3y)28.48%
Cap/Depr(5y)28.2%
Cap/Sales(3y)1.27%
Cap/Sales(5y)1.32%
Profit Quality(3y)342.4%
Profit Quality(5y)380.82%
High Growth Momentum
Growth
EPS 1Y (TTM)24.29%
EPS 3Y12.87%
EPS 5Y15.01%
EPS Q2Q%11.82%
EPS Next YN/A
EPS Next 2YN/A
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)6.22%
Revenue growth 3Y4.67%
Revenue growth 5Y10.14%
Sales Q2Q%8.06%
Revenue Next YearN/A
Revenue Next 2YN/A
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y13.01%
EBIT growth 3Y9.15%
EBIT growth 5Y14.33%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y12.37%
FCF growth 3Y18.53%
FCF growth 5Y13.13%
OCF growth 1Y9.99%
OCF growth 3Y15.89%
OCF growth 5Y10.6%
FORMULA SYSTEMS 1985-SP ADR / FORTY FAQ
Can you provide the ChartMill fundamental rating for FORMULA SYSTEMS 1985-SP ADR?
ChartMill assigns a fundamental rating of 5 / 10 to FORTY.
Can you provide the valuation status for FORMULA SYSTEMS 1985-SP ADR?
ChartMill assigns a valuation rating of 4 / 10 to FORMULA SYSTEMS 1985-SP ADR (FORTY). This can be considered as Fairly Valued.
Can you provide the profitability details for FORMULA SYSTEMS 1985-SP ADR?
FORMULA SYSTEMS 1985-SP ADR (FORTY) has a profitability rating of 7 / 10.
What is the valuation of FORMULA SYSTEMS 1985-SP ADR based on its PE and PB ratios?
The Price/Earnings (PE) ratio for FORMULA SYSTEMS 1985-SP ADR (FORTY) is 24.95 and the Price/Book (PB) ratio is 3.01.