Formula Systems (1985) (Formula Systems (1985)) Days Payable

: 38.18 (As of Sep. 2023)

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Formula Systems (1985)'s average Accounts Payable for the three months ended in Sep. 2023 was $207 Mil. Formula Systems (1985)'s Cost of Goods Sold for the three months ended in Sep. 2023 was $495 Mil. Hence, Formula Systems (1985)'s Days Payable for the three months ended in Sep. 2023 was 38.18.

The historical rank and industry rank for Formula Systems (1985)'s Days Payable or its related term are showing as below:

FORTY' s Days Payable Range Over the Past 10 Years
Min: 30.26 Med: 33.78 Max: 40.09
Current: 37.32

During the past 13 years, Formula Systems (1985)'s highest Days Payable was 40.09. The lowest was 30.26. And the median was 33.78.

FORTY's Days Payable is ranked worse than
59.77% of 2523 companies
in the Software industry
Industry Median: 51.49 vs FORTY: 37.32

Formula Systems (1985)'s Days Payable increased from Sep. 2022 (35.77) to Sep. 2023 (38.18). It may suggest that Formula Systems (1985) delayed paying its suppliers.

Formula Systems (1985) Days Payable Historical Data

The historical data trend for Formula Systems (1985)'s Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Formula Systems (1985) Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Days Payable

33.70

33.85

34.19

35.61

40.09

Formula Systems (1985) Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Days Payable																35.77	37.83	37.39	36.65	38.18

Competitive Comparison

For the Information Technology Services subindustry, Formula Systems (1985)'s Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Formula Systems (1985) Days Payable Distribution

For the Software industry and Technology sector, Formula Systems (1985)'s Days Payable distribution charts can be found below:

* The bar in red indicates where Formula Systems (1985)'s Days Payable falls into.

Formula Systems (1985) Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Formula Systems (1985)'s Days Payable for the fiscal year that ended in Dec. 2022 is calculated as

	Days Payable (A: Dec. 2022 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (A: Dec. 2021 )	+	Accounts Payable (A: Dec. 2022 ))	/	count )	/	Cost of Goods Sold (A: Dec. 2022 )	*	Days in Period
=	( (205.835	+	222.482)	/	2 )	/	1949.892	*	365
=	214.1585					/	1949.892	*	365
=	40.09

Formula Systems (1985)'s Days Payable for the quarter that ended in Sep. 2023 is calculated as:

	Days Payable (Q: Sep. 2023 )
=	Average Accounts Payable					/	Cost of Goods Sold	*	Days in Period
=	( (Accounts Payable (Q: Jun. 2023 )	+	Accounts Payable (Q: Sep. 2023 ))	/	count )	/	Cost of Goods Sold (Q: Sep. 2023 )	*	Days in Period
=	( (202.932	+	211.502)	/	2 )	/	495.222	*	365 / 4
=	207.217					/	495.222	*	365 / 4
=	38.18

Formula Systems (1985) Days Payable Related Terms

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Formula Systems (1985) (Formula Systems (1985)) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Formula Systems (1985) Ltd (NAS:FORTY) » Definitions » Days Payable

Comparable Companies

Traded in Other Exchanges

FORTY:Israel FSY:Germany FSY:Germany

Address

Yahadut Canada 1 Street, Or Yehuda, Tel Aviv, ISR, 6037501

Website

https://www.formulasystems.com

Formula Systems (1985) Ltd is a holding company that, through its subsidiaries, provides information technology services. The company organizes itself into three primary segments based on the subsidiary. The Matrix segment, which generates the majority of revenue, provides software development and existing software expansion services. The Sapiens segment provides software development services for the insurance industry. The Magic Software segment provides vendor management systems and workforce management services, which include accounting and finance, human resources, IT technology, and marketing and sales. Michpal; ZAP Group and Others. The majority of the company's revenue comes from Israel.