Formula Systems (1985) Ltd, trading under the ticker FORTY, has reached a new 52-week high, with its share price hitting $87.1. This milestone reflects the company's strong performance over the past year, which has seen a significant uptick in its market value. The 52-week high of $87.1 is a testament to the company's resilience and strategic growth initiatives, which have been well-received by investors. Over the past year, Formula Systems has seen a substantial increase in its value, with a 1-year change of 14.58%. This positive trend underscores the company's robust financial health and its ability to deliver consistent returns to its shareholders.
InvestingPro Insights
As Formula Systems (1985) Ltd (FORTY) celebrates its 52-week high, a closer look at the real-time data from InvestingPro reveals additional layers to the company's financial landscape. With a market capitalization of $1.31 billion and a price-to-earnings (P/E) ratio of 20.2, the company presents a balanced investment profile. The adjusted P/E ratio, reflecting the last twelve months as of Q1 2024, sits at a similar level of 20.35, indicating a steady valuation over the recent period.
The company's revenue growth also paints a picture of stable expansion, with a 3.05% increase over the last twelve months as of Q1 2024 and a quarterly rise of 5.36%. These figures, coupled with a solid gross profit margin of 24.34%, suggest that Formula Systems is effectively managing its financials amidst its growth trajectory. Moreover, the InvestingPro Tips highlight that the stock's RSI indicates it is in overbought territory, which may be of interest to investors monitoring market sentiment. Additionally, the strong free cash flow yield implied by the valuation could be a compelling factor for those focusing on the company's cash-generating ability.
For investors seeking a deeper dive into Formula Systems' investment potential, additional insights are available on InvestingPro, including a tip on the company's high shareholder yield and its track record of maintaining dividend payments for 12 consecutive years. There are 9 more InvestingPro Tips available for FORTY, which can be accessed at https://www.investing.com/pro/FORTY. As an added benefit, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking further analytics and insights to inform your investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.