Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Selling, general, & admin. expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. Formula Systems (1985)'s selling, general, & admin. expense for the
three
months ended in Mar. 2026 was €65 Mil.
Its selling, general, & admin. expense for the trailing twelve months (TTM) ended in Mar. 2026 was €299 Mil.
Formula Systems (1985) (FRA:FSY) Selling, General, & Admin. Expense Explanation
An efficient operation keeps SGA costs low and thus has higher profit margin. The percentage of SGA relative to total revenue is an indication of how efficiently the company operates. Compare this percentage among the companies in the same industry is a good way of finding more efficient operations. A comparison of the SGA cost relative to the revenue with the historical value can also be an indication of how efficient the company has become.
Warren Buffett likes companies with consistent SGA as the percentage of gross profit.
Companies with no durable competitive advantage show wild variation in SG&A as % of Gross Profit.
If SGA is less than 30% of Gross Profit, it is fantastic. If SGA is nearing 100%, it is is in highly competitive industry.
Formula Systems (1985) Selling, General, & Admin. Expense Related Terms
Formula Systems (1985) Selling, General, & Admin. Expense Historical Data
* Premium members only.
The historical data trend for Formula Systems (1985)'s Selling, General, & Admin. Expense 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.
Formula Systems (1985) Selling, General, & Admin. Expense Chart
FRA:FSY vs IBM, ACN, FISV: Selling, General, & Admin. Expense Comparison
For the Information Technology Services subindustry, Formula Systems (1985)'s Selling, General, & Admin. Expense, along with its competitors' market caps and Selling, General, & Admin. Expense 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) Selling, General, & Admin. Expense vs Software Industry
For the Software industry and Technology sector, Formula Systems (1985)'s Selling, General, & Admin. Expense distribution charts can be found below:
* The bar in red indicates where Formula Systems (1985)'s Selling, General, & Admin. Expense falls into.
Formula Systems (1985) Selling, General, & Admin. Expense Calculation
Selling, General, & Admin. Expense (SGA) includes the direct and indirect costs and all general and administrative expenses of a company. For instance, personnel cost, advertising, rent, communication costs are all part of SGA.
Selling, General, & Admin. Expense for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €299 Mil.
* 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.
What does a Selling, General, & Admin. Expense of €299 Mil mean?
Formula Systems (1985) (FRA:FSY) has a Selling, General, & Admin. Expense of €299 Mil as of Mar. 2026. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on Formula Systems (1985) and its competitors.
Is Formula Systems (1985)'s Selling, General, & Admin. Expense too high?
Formula Systems (1985)'s current Selling, General, & Admin. Expense is €299 Mil. Overall, Formula Systems (1985) has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Formula Systems (1985)'s Selling, General, & Admin. Expense compare to IBM and ACN?
Formula Systems (1985)'s Selling, General, & Admin. Expense of €299 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Selling, General, & Admin. Expense for a Software company?
A good Selling, General, & Admin. Expense depends on the Software industry context. However, Selling, General, & Admin. Expense should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Selling, General, & Admin. Expense mean?
A high Selling, General, & Admin. Expense can signal that a stock is expensive relative to its fundamentals. Selling, general and admin expense is the total cost for direct, indirect, general and administrative activities. View historical data on Formula Systems (1985) and its competitors. Formula Systems (1985)'s current Selling, General, & Admin. Expense is €299 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Formula Systems (1985) stock overvalued right now?
Based on GuruFocus' analysis, Formula Systems (1985) (FRA:FSY) is currently considered Fairly Valued. The stock's GF Value™ is €100.75, compared to a current price of €91.50 — trading 9.2% below its estimated fair value. The current Selling, General, & Admin. Expense is €299 Mil. Formula Systems (1985)'s overall GF Score™ is 70/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Selling, General, & Admin. Expense calculated?
Selling, General, & Admin. Expense is calculated from a company's financial statements. For Formula Systems (1985) (FRA:FSY), the current Selling, General, & Admin. Expense is €299 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Formula Systems (1985) (FRA:FSY) Overvalued in 2026?
Based on GuruFocus' analysis, Formula Systems (1985) stock appears to be undervalued.
The current stock price of €91.50 is trading 9.2% below its estimated GF Value™ of €100.75.
GuruFocus considers Formula Systems (1985) to be Fairly Valued.
Key valuation signals for FRA:FSY:
Selling, General, & Admin. Expense: €299 Mil
GF Value™: €100.75 vs. price of €91.50 (9.2% below fair value)
No single metric tells the full story. See the FRA:FSY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Formula Systems (1985) Ltd is an information technology company that is principally engaged through its directly and indirectly held investees in providing software consulting services, selling and marketing computer-based business solutions and hardware products from a wide range of domestic and international manufacturers, as well as developing proprietary software solutions. It delivers solutions in Israel and in numerous countries to customers with complex IT services needs. It designs and implements IT solutions and software systems that improve the productivity of customers' existing IT assets, enable them to effectively manage their operations and reduce their business risks in the face of changing business environments.
70GF Score
Get the complete analysis for FRA:FSY
Selling, General, & Admin. Expense is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:FSY has been successfully added to your 
