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Formula
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Let's analyse Formula together

PenkeI guess you are interested in Formula. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Formula. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Formula (30 sec.)










What can you expect buying and holding a share of Formula? (30 sec.)

How much money do you get?

How much money do you get?
ILA5.69
When do you have the money?
1 year
How often do you get paid?
100.0%

What is your share worth?

Current worth
ILA28,250.77
Expected worth in 1 year
ILA27,862.89
How sure are you?
100.0%

+ What do you gain per year?

Total Gains per Share
ILA1,702.96
Return On Investment
5.8%

For what price can you sell your share?

Current Price per Share
ILA29,450.00
Expected price per share
ILA25,170 - ILA31,569
How sure are you?
50%

1. Valuation of Formula (5 min.)




Live pricePrice per Share (EOD)

ILA29,450.00

Intrinsic Value Per Share

ILA49,316.74 - ILA57,799.78

Total Value Per Share

ILA77,567.51 - ILA86,050.54

2. Growth of Formula (5 min.)




Is Formula growing?

Current yearPrevious yearGrowGrow %
How rich?$1.1b$1.1b-$2.7m-0.2%

How much money is Formula making?

Current yearPrevious yearGrowGrow %
Making money$81.3m$54.5m$26.8m32.9%
Net Profit Margin3.2%2.3%--

How much money comes from the company's main activities?

3. Financial Health of Formula (5 min.)




4. Comparing to competitors in the Information Technology Services industry (5 min.)




  Industry Rankings (Information Technology Services)  

What can you expect buying and holding a share of Formula? (5 min.)

Welcome investor! Formula's management wants to use your money to grow the business. In return you get a share of Formula.

What can you expect buying and holding a share of Formula?

First you should know what it really means to hold a share of Formula. And how you can make/lose money.

Speculation

The Price per Share of Formula is ILA29,450. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

  • The fundamentals: the financial health trends of Formula.
  • The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
  • The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Formula, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

  • You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is ILA28,250.77. Based on the TTM, the Book Value Change Per Share is ILA-96.97 per quarter. Based on the YOY, the Book Value Change Per Share is ILA1,711.84 per quarter.
  • You may receive quarterly/yearly dividend in the form of additional shares.
  • You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is ILA522.71 per quarter.
Based on historical numbers we can estimate the returns while holding a share of Formula.

How much money are you going to get?

 MRQTTMYOY5Y10Y
 ILA% of Price per ShareILA% of Price per ShareILA% of Price per ShareILA% of Price per ShareILA% of Price per Share
Usd Eps5.310.0%5.310.0%3.570.0%3.320.0%3.060.0%
Usd Book Value Change Per Share-0.260.0%-0.260.0%4.660.0%5.270.0%4.480.0%
Usd Dividend Per Share1.420.0%1.420.0%1.440.0%1.000.0%0.920.0%
Usd Total Gains Per Share1.160.0%1.160.0%6.100.0%6.270.0%5.400.0%
Usd Price Per Share69.33-69.33-103.31-69.95-50.85-
Price to Earnings Ratio13.05-13.05-28.96-21.94-22.87-
Price-to-Total Gains Ratio59.87-59.87-16.94-21.34-17.90-
Price to Book Ratio0.90-0.90-1.34-1.02-0.86-
Price-to-Total Gains Ratio59.87-59.87-16.94-21.34-17.90-

When do you get the money?

Usd Investment
$.00
Usd Price Per Share80.104
Number of shares12
Gains per QuarterTrailing 12 Months5 Year
Usd Dividend Per Share1.421.00
Usd Book Value Change Per Share-0.265.27
Usd Total Gains Per Share1.166.27
Gains per Quarter (12 shares)13.9075.22
Gains per Year (12 shares)55.58300.90
YearsReturn on Investment (TTM)Return on Investment (5Y)
 DividendBook Value gainTotal gainsDividendBook Value gainTotal gains
Broker costs---10---10
168-134648253291
2136-2510296505592
3205-38158144758893
4273-5121419310111194
5341-6327024112641495
6409-7632628915161796
7478-8938233717692097
8546-10143838520222398
9614-11449443322752699
10682-12755048225273000

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %
 Trailing 12 Months3Y5 Year10 YearALLTIME
  % % % % %
Earnings Per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%21.00.02.091.3%
Book Value Change Per Share0.01.00.00.0%2.01.00.066.7%4.01.00.080.0%9.01.00.090.0%17.06.00.073.9%
Dividend per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%19.00.04.082.6%
Total Gains per Share1.00.00.0100.0%3.00.00.0100.0%5.00.00.0100.0%10.00.00.0100.0%19.04.00.082.6%

Fundamentals of Formula

About Formula

Formula Systems (1985) Ltd., through its subsidiaries, provides proprietary and non-proprietary software solutions, IT professional services, software product marketing and support, computer infrastructure and integration solutions, and learning and integration worldwide. The company offers computer and telecommunication infrastructure solutions; and sells and markets computers and peripheral equipment, and cloud based solutions and services relating to databases and big data. It also provides customer relations management, computer systems management infrastructures, web world content management, database and data warehouse mining, application integration, database and systems, data management, and software development tools; and application and professional training courses, and advanced professional studies. In addition, the company offers property and casualty insurance platforms, such as Sapiens, Sapiens CoreSuite, Sapiens IDITSuite, and IDIT Go; life, pension, and annuities platforms, including Sapiens, Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster; Sapiens Cloud-based DigitalSuite; data and analytics platform; and reinsurance software solutions comprising Sapiens ReinsuranceMaster, Sapiens ReinsurancePro, and Sapiens Reinsurance GO. Further, it provides Sapiens workers' compensation solutions; Sapiens medical professional liability solutions; financial and compliance solutions, such as Sapiens FinancialPro, Sapiens Financial GO, Sapiens StatementPro, Sapiens CheckPro, and Sapiens Reporting Tools; Sapiens Decision; and technology-based solutions. Additionally, it offers application development and business process integration platforms; vertical software solutions; strategic consulting and outsourcing services; and professional services in various areas, as well as develops on-premise payroll software. The company was incorporated in 1985 and is headquartered in Or Yehuda, Israel.

Fundamental data was last updated by Penke on 2024-03-20 17:26:03.

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is less efficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.
Solvency Details
 Compared to previous yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is unable to pay all its debts with equity.

Valuation

Valuation Details
 Compared to previous yearCompared to industry
Based on the equity, the company is cheap.
Based on the earnings, the company is underpriced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Formula.

1.1. Profitability
1.1.1. Net Profit Margin

Measures how much net profit Formula earns for each 1 of revenue.

  • Above 10% is considered healthy but always compare Formula to the Information Technology Services industry mean.
  • A Net Profit Margin of 3.2% means that 0.03 for each 1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Formula:

  • The MRQ is 3.2%. The company is making a profit. +1
  • The TTM is 3.2%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ3.2%TTM3.2%0.0%
TTM3.2%YOY2.3%+0.9%
TTM3.2%5Y2.5%+0.7%
5Y2.5%10Y4.0%-1.5%
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ3.2%3.7%-0.5%
TTM3.2%3.6%-0.4%
YOY2.3%3.4%-1.1%
5Y2.5%3.4%-0.9%
10Y4.0%3.3%+0.7%
1.1.2. Return on Assets

Shows how efficient Formula is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Formula to the Information Technology Services industry mean.
  • 2.9% Return on Assets means that Formula generated 0.03 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Formula:

  • The MRQ is 2.9%. Using its assets, the company is less efficient in making profit.
  • The TTM is 2.9%. Using its assets, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ2.9%TTM2.9%0.0%
TTM2.9%YOY2.0%+0.9%
TTM2.9%5Y2.1%+0.8%
5Y2.1%10Y3.1%-1.0%
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ2.9%1.3%+1.6%
TTM2.9%1.3%+1.6%
YOY2.0%1.3%+0.7%
5Y2.1%1.3%+0.8%
10Y3.1%1.3%+1.8%
1.1.3. Return on Equity

Shows how efficient Formula is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Formula to the Information Technology Services industry mean.
  • 14.7% Return on Equity means Formula generated 0.15 for each 1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Formula:

  • The MRQ is 14.7%. Using its investors money, the company is less efficient in making profit.
  • The TTM is 14.7%. Using its investors money, the company is less efficient in making profit.
Trends
Current periodCompared to+/- 
MRQ14.7%TTM14.7%0.0%
TTM14.7%YOY10.1%+4.7%
TTM14.7%5Y10.6%+4.2%
5Y10.6%10Y11.8%-1.3%
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ14.7%2.8%+11.9%
TTM14.7%2.7%+12.0%
YOY10.1%3.3%+6.8%
5Y10.6%3.2%+7.4%
10Y11.8%3.0%+8.8%

1.2. Operating Efficiency of Formula.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Formula is operating .

  • Measures how much profit Formula makes for each 1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
  • Above 15% is considered healthy but always compare Formula to the Information Technology Services industry mean.
  • An Operating Margin of 9.0% means the company generated 0.09  for each 1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Formula:

  • The MRQ is 9.0%. The company is operating less efficient.
  • The TTM is 9.0%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ9.0%TTM9.0%0.0%
TTM9.0%YOY8.6%+0.4%
TTM9.0%5Y8.3%+0.7%
5Y8.3%10Y7.6%+0.7%
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ9.0%7.0%+2.0%
TTM9.0%4.0%+5.0%
YOY8.6%5.7%+2.9%
5Y8.3%5.1%+3.2%
10Y7.6%4.7%+2.9%
1.2.2. Operating Ratio

Measures how efficient Formula is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Information Technology Services industry mean).
  • An Operation Ratio of 1.67 means that the operating costs are 1.67 for each 1 in net sales.

Let's take a look of the Operating Ratio trends of Formula:

  • The MRQ is 1.668. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.668. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.668TTM1.6680.000
TTM1.668YOY1.679-0.011
TTM1.6685Y1.683-0.016
5Y1.68310Y1.599+0.084
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6681.133+0.535
TTM1.6681.178+0.490
YOY1.6791.078+0.601
5Y1.6831.121+0.562
10Y1.5991.087+0.512

1.3. Liquidity of Formula.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Formula is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Information Technology Services industry mean).
  • A Current Ratio of 1.37 means the company has 1.37 in assets for each 1 in short-term debts.

Let's take a look of the Current Ratio trends of Formula:

  • The MRQ is 1.369. The company is just able to pay all its short-term debts.
  • The TTM is 1.369. The company is just able to pay all its short-term debts.
Trends
Current periodCompared to+/- 
MRQ1.369TTM1.3690.000
TTM1.369YOY1.374-0.005
TTM1.3695Y1.431-0.062
5Y1.43110Y1.603-0.172
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ1.3691.467-0.098
TTM1.3691.466-0.097
YOY1.3741.584-0.210
5Y1.4311.628-0.197
10Y1.6031.577+0.026
1.3.2. Quick Ratio

Measures if Formula is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy but always compare Formula to the Information Technology Services industry mean.
  • A Quick Ratio of 0.73 means the company can pay off 0.73 for each 1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Formula:

  • The MRQ is 0.725. The company is just not able to pay all its short-term debts with the most liquid assets. -1
  • The TTM is 0.725. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ0.725TTM0.7250.000
TTM0.725YOY0.763-0.038
TTM0.7255Y0.781-0.055
5Y0.78110Y0.916-0.135
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7251.002-0.277
TTM0.7251.010-0.285
YOY0.7631.161-0.398
5Y0.7811.194-0.413
10Y0.9161.162-0.246

1.4. Solvency of Formula.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Formula assets are financed with debt.

  • Below 1 (100%) is considered healthy but always compare Formula to Information Technology Services industry mean.
  • A Debt to Asset Ratio of 0.58 means that Formula assets are financed with 57.9% credit (debt) and the remaining percentage (100% - 57.9%) is financed by its owners/shareholders. 

Let's take a look of the Debt to Asset Ratio trends of Formula:

  • The MRQ is 0.579. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.579. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.579TTM0.5790.000
TTM0.579YOY0.571+0.008
TTM0.5795Y0.559+0.020
5Y0.55910Y0.494+0.065
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ0.5790.502+0.077
TTM0.5790.499+0.080
YOY0.5710.498+0.073
5Y0.5590.506+0.053
10Y0.4940.495-0.001
1.4.2. Debt to Equity Ratio

Measures if Formula is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy but always compare Formula to the Information Technology Services industry mean.
  • A Debt to Equity ratio of 293.1% means that company has 2.93 debt for each 1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Formula:

  • The MRQ is 2.931. The company is unable to pay all its debts with equity. -1
  • The TTM is 2.931. The company is unable to pay all its debts with equity. -1
Trends
Current periodCompared to+/- 
MRQ2.931TTM2.9310.000
TTM2.931YOY2.898+0.033
TTM2.9315Y2.760+0.171
5Y2.76010Y2.169+0.591
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
MRQ2.9310.938+1.993
TTM2.9310.984+1.947
YOY2.8980.972+1.926
5Y2.7601.046+1.714
10Y2.1691.057+1.112

2. Market Valuation of Formula

2.1. Earnings Per Share
2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every 1 in earnings Formula generates.

  • Above 15 is considered overpriced but always compare Formula to the Information Technology Services industry mean.
  • A PE ratio of 13.05 means the investor is paying 13.05 for every 1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Formula:

  • The EOD is 15.075. Based on the earnings, the company is fair priced.
  • The MRQ is 13.048. Based on the earnings, the company is underpriced. +1
  • The TTM is 13.048. Based on the earnings, the company is underpriced. +1
Trends
Current periodCompared to+/- 
EOD15.075MRQ13.048+2.027
MRQ13.048TTM13.0480.000
TTM13.048YOY28.958-15.910
TTM13.0485Y21.943-8.895
5Y21.94310Y22.874-0.931
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
EOD15.07515.268-0.193
MRQ13.04812.943+0.105
TTM13.04814.770-1.722
YOY28.95817.385+11.573
5Y21.94318.091+3.852
10Y22.87420.242+2.632
2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Formula:

  • The EOD is 6.140. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The MRQ is 5.315. Based on how much money comes from the company's main activities, the company is cheap. +2
  • The TTM is 5.315. Based on how much money comes from the company's main activities, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD6.140MRQ5.315+0.826
MRQ5.315TTM5.3150.000
TTM5.315YOY8.909-3.594
TTM5.3155Y6.828-1.513
5Y6.82810Y3.414+3.414
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
EOD6.1406.559-0.419
MRQ5.3156.379-1.064
TTM5.3154.370+0.945
YOY8.9096.332+2.577
5Y6.8285.929+0.899
10Y3.4145.680-2.266
2. Book Value per Share
2.3. Price to Book Ratio

Measures if the stock price of Formula is to cheap or to expensive compared to its book value.

  • At or below 1 is considered healthy (always compare to Information Technology Services industry mean).
  • A PB ratio of 0.90 means the investor is paying 0.90 for each 1 in book value.

Let's take a look of the Price to Book Ratio trends of Formula:

  • The EOD is 1.042. Based on the equity, the company is underpriced. +1
  • The MRQ is 0.902. Based on the equity, the company is cheap. +2
  • The TTM is 0.902. Based on the equity, the company is cheap. +2
Trends
Current periodCompared to+/- 
EOD1.042MRQ0.902+0.140
MRQ0.902TTM0.9020.000
TTM0.902YOY1.340-0.438
TTM0.9025Y1.018-0.116
5Y1.01810Y0.859+0.159
Compared to industry (Information Technology Services)
PeriodCompanyIndustry (mean)+/- 
EOD1.0422.403-1.361
MRQ0.9022.210-1.308
TTM0.9022.324-1.422
YOY1.3402.739-1.399
5Y1.0182.853-1.835
10Y0.8593.305-2.446
2. Total Gains per Share

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Formula compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Change Per Share---96.970-96.9700%1711.840-106%1935.824-105%1645.836-106%
Book Value Per Share--28250.76528250.7650%28347.7350%24824.664+14%20712.026+36%
Current Ratio--1.3691.3690%1.3740%1.431-4%1.603-15%
Debt To Asset Ratio--0.5790.5790%0.571+1%0.559+3%0.494+17%
Debt To Equity Ratio--2.9312.9310%2.898+1%2.760+6%2.169+35%
Dividend Per Share--522.709522.7090%530.559-1%368.838+42%338.652+54%
Eps--1953.5701953.5700%1311.560+49%1219.896+60%1125.266+74%
Free Cash Flow Per Share--4796.0914796.0910%4263.116+13%4116.563+17%4116.563+17%
Free Cash Flow To Equity Per Share--3092.4273092.4270%1520.818+103%3499.909-12%3499.909-12%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Intrinsic Value_10Y_max--57799.776--------
Intrinsic Value_10Y_min--49316.744--------
Intrinsic Value_1Y_max--5250.940--------
Intrinsic Value_1Y_min--5102.328--------
Intrinsic Value_3Y_max--16189.261--------
Intrinsic Value_3Y_min--15282.284--------
Intrinsic Value_5Y_max--27624.780--------
Intrinsic Value_5Y_min--25331.463--------
Market Cap450614450000.000+13%390447331830.000390447331830.0000%581131980000.000-33%393565484366.000-1%286080908283.000+36%
Net Profit Margin--0.0320.0320%0.023+39%0.025+28%0.040-21%
Operating Margin--0.0900.0900%0.086+4%0.083+9%0.076+19%
Operating Ratio--1.6681.6680%1.679-1%1.683-1%1.599+4%
Pb Ratio1.042+13%0.9020.9020%1.340-33%1.018-11%0.859+5%
Pe Ratio15.075+13%13.04813.0480%28.958-55%21.943-41%22.874-43%
Price Per Share29450.000+13%25490.00025490.0000%37980.000-33%25716.000-1%18694.100+36%
Price To Free Cash Flow Ratio6.140+13%5.3155.3150%8.909-40%6.828-22%3.414+56%
Price To Total Gains Ratio69.174+13%59.87259.8720%16.937+253%21.339+181%17.904+234%
Quick Ratio--0.7250.7250%0.763-5%0.781-7%0.916-21%
Return On Assets--0.0290.0290%0.020+47%0.021+36%0.031-7%
Return On Equity--0.1470.1470%0.101+46%0.106+39%0.118+24%
Total Gains Per Share--425.739425.7390%2242.398-81%2304.662-82%1984.487-79%
Usd Book Value--1177041416.2561177041416.2560%1179796438.2960%1033426867.349+14%862136097.034+37%
Usd Book Value Change Per Share---0.264-0.2640%4.656-106%5.265-105%4.477-106%
Usd Book Value Per Share--76.84276.8420%77.1060%67.523+14%56.337+36%
Usd Dividend Per Share--1.4221.4220%1.443-1%1.003+42%0.921+54%
Usd Eps--5.3145.3140%3.567+49%3.318+60%3.061+74%
Usd Free Cash Flow--199824598.584199824598.5840%177425419.392+13%171369570.946+17%85684785.473+133%
Usd Free Cash Flow Per Share--13.04513.0450%11.596+13%11.197+17%11.197+17%
Usd Free Cash Flow To Equity Per Share--8.4118.4110%4.137+103%9.520-12%9.520-12%
Usd Market Cap1225671304.000+13%1062016742.5781062016742.5780%1580678985.600-33%1070498117.476-1%778140070.530+36%
Usd Price Per Share80.104+13%69.33369.3330%103.306-33%69.948-1%50.848+36%
Usd Profit--81393651.14481393651.1440%54584436.672+49%51422811.379+58%47155977.245+73%
Usd Revenue--2572377578.8562572377578.8560%2405529244.080+7%2041075528.474+26%1507546160.273+71%
Usd Total Gains Per Share--1.1581.1580%6.099-81%6.269-82%5.398-79%
 EOD+4 -4MRQTTM+0 -0YOY+19 -165Y+22 -1310Y+19 -16

3.2. Fundamental Score

Let's check the fundamental score of Formula based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1515.075
Price to Book Ratio (EOD)Between0-11.042
Net Profit Margin (MRQ)Greater than00.032
Operating Margin (MRQ)Greater than00.090
Quick Ratio (MRQ)Greater than10.725
Current Ratio (MRQ)Greater than11.369
Debt to Asset Ratio (MRQ)Less than10.579
Debt to Equity Ratio (MRQ)Less than12.931
Return on Equity (MRQ)Greater than0.150.147
Return on Assets (MRQ)Greater than0.050.029
Total4/10 (40.0%)

3.3. Technical Score

Let's check the technical score of Formula based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5065.019
Ma 20Greater thanMa 5028,285.500
Ma 50Greater thanMa 10026,446.800
Ma 100Greater thanMa 20024,821.600
OpenGreater thanClose30,300.000
Total4/5 (80.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2018-12-312019-12-312020-12-312021-12-312022-12-31
Total Other Income Expense Net -2,912,156-3,288,262-6,200,4174,901,142-1,299,2751,225,377-73,89816,346,08716,272,189



Latest Balance Sheet

Balance Sheet of 2022-12-31. Currency in USD. All numbers in thousands.

Summary
Total Assets2,794,707
Total Liabilities1,617,675
Total Stockholder Equity551,865
 As reported
Total Liabilities 1,617,675
Total Stockholder Equity+ 551,865
Total Assets = 2,794,707

Assets

Total Assets2,794,707
Total Current Assets1,372,989
Long-term Assets1,421,718
Total Current Assets
Cash And Cash Equivalents 544,342
Short-term Investments 24,714
Net Receivables 702,727
Inventory 35,181
Total Current Assets  (as reported)1,372,989
Total Current Assets  (calculated)1,306,964
+/- 66,025
Long-term Assets
Property Plant Equipment 172,312
Goodwill 926,161
Long Term Investments 20,641
Intangible Assets 222,726
Other Assets 42,220
Long-term Assets  (as reported)1,421,718
Long-term Assets  (calculated)1,384,060
+/- 37,658

Liabilities & Shareholders' Equity

Total Current Liabilities1,002,854
Long-term Liabilities614,821
Total Stockholder Equity551,865
Total Current Liabilities
Short Long Term Debt 226,201
Accounts payable 222,229
Other Current Liabilities 307,052
Total Current Liabilities  (as reported)1,002,854
Total Current Liabilities  (calculated)755,482
+/- 247,372
Long-term Liabilities
Long term Debt 421,506
Capital Lease Obligations Min Short Term Debt124,964
Other Liabilities 113,815
Long-term Liabilities Other 25,160
Long-term Liabilities  (as reported)614,821
Long-term Liabilities  (calculated)685,445
+/- 70,624
Total Stockholder Equity
Common Stock551,865
Total Stockholder Equity (as reported)551,865
Total Stockholder Equity (calculated)551,865
+/-0
Other
Capital Stock4,347
Common Stock Shares Outstanding 15,318
Net Debt 103,365
Net Invested Capital 1,199,572
Net Tangible Assets -594,926
Net Working Capital 370,135
Property Plant and Equipment Gross 172,312



Balance Sheet

Currency in USD. All numbers in thousands.

 Trend2022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-312011-12-312010-12-312009-12-312008-12-312007-12-312006-12-312005-12-312004-12-312003-12-312002-12-312001-12-312000-12-31
> Total Assets 
2,235,846
1,984,592
468,597
528,915
641,020
630,085
589,817
612,624
596,622
566,439
623,767
669,221
880,920
877,478
1,105,895
1,215,392
1,354,522
1,563,637
1,664,161
2,089,257
2,520,080
2,747,677
2,794,707
2,794,7072,747,6772,520,0802,089,2571,664,1611,563,6371,354,5221,215,3921,105,895877,478880,920669,221623,767566,439596,622612,624589,817630,085641,020528,915468,5971,984,5922,235,846
   > Total Current Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
333,228
486,643
588,984
633,659
694,801
781,100
965,504
1,160,870
1,302,117
1,372,989
1,372,9891,302,1171,160,870965,504781,100694,801633,659588,984486,643333,2280000000000000
       Cash And Cash Equivalents 
72,019
368,945
22,692
93,456
107,174
81,767
118,910
161,504
110,602
100,205
110,508
88,172
111,238
82,123
179,931
249,141
238,161
245,947
268,492
368,666
501,650
485,391
544,342
544,342485,391501,650368,666268,492245,947238,161249,141179,93182,123111,23888,172110,508100,205110,602161,504118,91081,767107,17493,45622,692368,94572,019
       Short-term Investments 
604,064
49,687
79,970
8,773
39,073
36,185
16,084
40,276
46,158
58,009
38,194
19,517
14,866
18,628
27,699
23,282
30,739
735
9,913
36,486
31,527
27,066
24,714
24,71427,06631,52736,4869,91373530,73923,28227,69918,62814,86619,51738,19458,00946,15840,27616,08436,18539,0738,77379,97049,687604,064
       Net Receivables 
574,224
460,062
79,438
112,144
114,533
133,390
170,129
161,410
161,566
137,623
161,146
180,520
240,749
216,163
270,122
280,209
328,977
404,074
456,417
514,322
519,885
696,321
702,727
702,727696,321519,885514,322456,417404,074328,977280,209270,122216,163240,749180,520161,146137,623161,566161,410170,129133,390114,533112,14479,438460,062574,224
       Inventory 
33,046
21,835
3,590
2,635
4,668
3,808
3,080
3,157
2,772
2,439
5,601
2,450
2,149
2,407
2,437
4,807
3,953
3,299
3,882
8,636
23,988
21,221
35,181
35,18121,22123,9888,6363,8823,2993,9534,8072,4372,4072,1492,4505,6012,4392,7723,1573,0803,8084,6682,6353,59021,83533,046
   > Long-term Assets 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
883,128
1,123,753
1,359,210
1,446,449
1,421,718
1,421,7181,446,4491,359,2101,123,753883,128000000000000000000
       Property Plant Equipment 
164,673
138,877
25,045
25,756
26,529
23,485
18,461
15,794
15,228
9,989
12,411
19,165
21,459
19,408
22,111
22,003
26,130
29,807
29,182
147,189
173,973
172,719
172,312
172,312172,719173,973147,18929,18229,80726,13022,00322,11119,40821,45919,16512,4119,98915,22815,79418,46123,48526,52925,75625,045138,877164,673
       Goodwill 
516,947
557,469
115,165
145,672
196,921
200,038
0
119,014
143,352
145,321
166,495
166,644
326,541
227,434
424,807
441,021
495,362
617,272
640,855
724,193
872,424
932,854
926,161
926,161932,854872,424724,193640,855617,272495,362441,021424,807227,434326,541166,644166,495145,321143,352119,0140200,038196,921145,672115,165557,469516,947
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
162,021
34,276
30,875
41,288
25,315
25,710
26,021
28,311
28,900
20,641
20,64128,90028,31126,02125,71025,31541,28830,87534,276162,0210000000000000
       Intangible Assets 
516,947
462,352
115,165
145,672
196,921
200,038
0
146,157
170,038
175,839
199,596
198,188
401,404
267,077
109,412
104,656
128,446
163,983
150,046
165,280
222,263
241,936
222,726
222,726241,936222,263165,280150,046163,983128,446104,656109,412267,077401,404198,188199,596175,839170,038146,1570200,038196,921145,672115,165462,352516,947
> Total Liabilities 
649,588
806,891
243,118
284,660
357,663
357,959
321,387
306,321
319,252
271,125
289,383
305,543
390,139
372,111
413,595
496,035
590,269
790,715
858,764
1,192,923
1,411,537
1,567,890
1,617,675
1,617,6751,567,8901,411,5371,192,923858,764790,715590,269496,035413,595372,111390,139305,543289,383271,125319,252306,321321,387357,959357,663284,660243,118806,891649,588
   > Total Current Liabilities 
555,911
732,101
177,396
193,301
266,959
243,032
172,567
161,152
190,186
159,918
177,993
181,165
223,292
210,970
256,340
290,793
359,038
432,947
525,534
671,392
779,903
947,596
1,002,854
1,002,854947,596779,903671,392525,534432,947359,038290,793256,340210,970223,292181,165177,993159,918190,186161,152172,567243,032266,959193,301177,396732,101555,911
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
99,501
46,043
37,971
44,702
49,663
122,836
156,661
0
0
0
000156,661122,83649,66344,70237,97146,04399,5010000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
99,501
46,043
37,971
44,702
49,663
127,002
156,659
161,898
222,137
226,201
226,201222,137161,898156,659127,00249,66344,70237,97146,04399,5010000000000000
       Accounts payable 
178,548
168,151
26,811
31,327
41,605
47,534
128,056
57,099
57,240
43,776
53,177
40,344
51,943
52,645
165,843
68,051
80,114
95,339
118,786
125,163
153,322
205,835
222,229
222,229205,835153,322125,163118,78695,33980,11468,051165,84352,64551,94340,34453,17743,77657,24057,099128,05647,53441,60531,32726,811168,151178,548
       Other Current Liabilities 
286,757
328,789
62,833
71,092
88,005
82,074
0
73,575
117,058
91,448
102,205
92,301
131,554
122,689
44,454
47,930
58,909
97,111
111,052
148,692
173,395
187,991
307,052
307,052187,991173,395148,692111,05297,11158,90947,93044,454122,689131,55492,301102,20591,448117,05873,575082,07488,00571,09262,833328,789286,757
   > Long-term Liabilities 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
333,051
521,531
631,634
623,197
614,821
614,821623,197631,634521,531333,051000000000000000000
       Capital Lease Obligations Min Short Term Debt
0
0
0
0
0
0
0
0
0
0
0
0
0
-99,501
-46,043
-37,971
-44,702
-49,663
-122,836
-47,302
123,253
126,494
124,964
124,964126,494123,253-47,302-122,836-49,663-44,702-37,971-46,043-99,5010000000000000
       Long-term Liabilities Other 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,625
14,895
16,582
21,644
25,160
25,16021,64416,58214,8955,625000000000000000000
       Deferred Long Term Liability 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
27,247
27,063
35,726
45,945
0
0
0
0
0
0000045,94535,72627,06327,24700000000000000
> Total Stockholder Equity
938,140
754,996
153,349
176,004
186,778
163,445
153,290
198,388
169,937
188,041
197,615
218,668
245,067
322,185
324,776
329,899
336,387
359,202
367,630
421,640
503,201
540,960
551,865
551,865540,960503,201421,640367,630359,202336,387329,899324,776322,185245,067218,668197,615188,041169,937198,388153,290163,445186,778176,004153,349754,996938,140
   Common Stock
16,199
17,428
3,101
3,215
3,215
3,736
153,290
3,736
3,736
3,736
3,807
3,876
3,876
4,181
4,184
4,184
4,184
4,187
4,190
4,340
4,340
4,340
551,865
551,8654,3404,3404,3404,1904,1874,1844,1844,1844,1813,8763,8763,8073,7363,7363,736153,2903,7363,2153,2153,10117,42816,199
   Retained Earnings 
617,509
346,274
87,947
91,067
99,166
49,164
0
69,229
40,972
60,048
58,441
91,672
115,778
186,754
215,655
230,256
234,268
239,156
262,557
285,146
324,358
358,315
419,448
419,448358,315324,358285,146262,557239,156234,268230,256215,655186,754115,77891,67258,44160,04840,97269,229049,16499,16691,06787,947346,274617,509
   Capital Surplus 00000000000000000000000
   Treasury Stock00000-259-259-259-259-259-259-259-259-259-259-2590-259-259-259000
   Other Stockholders Equity 
0
0
0
0
0
0
0
0
0
0
0
0
0
-1,011
-1,305
-3,228
-2,377
18,078
3,134
11,676
25,513
25,516
0
025,51625,51311,6763,13418,078-2,377-3,228-1,305-1,0110000000000000



Balance Sheet

Currency in USD. All numbers in thousands.




Cash Flow

Currency in USD. All numbers in thousands.




Income Statement

Currency in USD. All numbers in thousands.


Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue2,637,679
Cost of Revenue-1,992,312
Gross Profit645,367645,367
 
Operating Income (+$)
Gross Profit645,367
Operating Expense-2,398,530
Operating Income239,149-1,753,163
 
Operating Expense (+$)
Research Development77,087
Selling General Administrative329,131
Selling And Marketing Expenses-
Operating Expense2,398,530406,218
 
Net Interest Income (+$)
Interest Income-
Interest Expense-24,525
Other Finance Cost-1,768
Net Interest Income-26,293
 
Pretax Income (+$)
Operating Income239,149
Net Interest Income-26,293
Other Non-Operating Income Expenses-
Income Before Tax (EBT)213,180239,149
EBIT - interestExpense = -24,525
63,640
88,165
Interest Expense24,525
Earnings Before Interest and Taxes (EBIT)-237,705
Earnings Before Interest and Taxes (EBITDA)-
 
After tax Income (+$)
Income Before Tax213,180
Tax Provision-46,263
Net Income From Continuing Ops165,135166,917
Net Income63,640
Net Income Applicable To Common Shares-
 
Non-recurring Events
Discontinued Operations-
Extraordinary Items-
Effect of Accounting Charges-
Other Items-
Non Recurring-
Other Operating Expenses-
Total Other Income/Expenses Net-26,293
 

Technical Analysis of Formula
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Formula. The general trend of Formula is BULLISH with 85.7% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Formula's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitionsBullish trend (85.7%) Bearish trend (-85.7%)
Overbought to neutralBullish pullback=Bearish reversal
Upper to lower neutralBullish correction=Bearish continuation
Nuetral to oversoldOversold=Oversold
Oversold to neutralBullish reversal=Bearish correction
Lower to upper neutralBullish continuation=Bearish pullback
Nuetral to overboughtOverbought=Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.


Score

Let's take a look at the Support & Resistance of Formula.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

  • Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 30,480 < 30,969 < 31,569.

The bearish price targets are: 29,080 > 26,350 > 25,170.

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Formula Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

  • Moving averages are lagging trend indicators.
  • There are many types of moving averages.
  • Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Formula. The current mas is .

The long score for the Moving Averages is 13/14.
The longshort score for the Moving Averages is 12/(-14 +14).

  • MA 20 trending up: The MA 20 is trending up. +1
  • Close > MA 20: The price is above the MA 20. +1
  • MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
  • MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
  • MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
  • MA 50 trending up: The MA 50 is trending up. +1
  • Close > MA 50: The price is above the MA 50. +1
  • MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
  • MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
  • MA 100 trending up: The MA 100 is trending up. +1
  • Close > MA 100: The price is above the MA 100. +1
  • MA 100 < MA 200: The MA 100 is lower than the MA 200. -1
  • MA 200 trending up: The MA 200 is trending up. +1
  • Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving AverageAmount of candlesTrendPrice +/-vs. MA 50vs. MA 100vs. MA 200
MA 2020
MA 5050-
MA 100100--
MA 200200---

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Formula Daily Moving Averages Chart
2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

  • MACD is a lagging momentum indicator.
  • Uses two moving averages.
  • Can show buy or sell signals based on momentum.
  • Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Formula. The current macd is 888.23.

The long score for the Moving Average Convergence/Divergence (MACD) is 3/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is 2/(-4 +4).

  • MACD line > signal line: The MACD line is above the signal line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Formula price going up in the near term. +2
  • MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Formula. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Formula price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +1
  • Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1
Formula Daily Moving Average Convergence/Divergence (MACD) ChartFormula Daily Moving Average Convergence/Divergence (MACD) Chart
2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.


Score

Let's take a look at the Directional Movement Index (DMI) of Formula. The current adx is 41.32.

The long score for the Directional Movement Index (DMI) is 4/7.
The longshort score for the Directional Movement Index (DMI) is 4/(-7 +7).

  • PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Formula shares, leading to potential upward momentum in its price. +1
  • PLUS_ID > MINUS_DI && ADX > 25 && ADX trending up: The ADX is above 25 and indicates a strong bullish trend. The ADX is trending up, so the bullish trend is strengthening.
Formula Daily Directional Movement Index (DMI) Chart
2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

  • Parabolic SAR (stop and reverse) is a lagging trend indicator.
  • Shows the current trend.
  • Shows potential entry signals.
  • Shows  potential exit signals.
  • Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Formula. The current sar is 27,598.

The long score for the Parabolic SAR is 1/1.
The longshort score for the Parabolic SAR is 1/(-1 +1).

  • Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1
Formula Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

  • Leading momentum indicator, meaning the signals are instant.
  • Ranges between 0 and 100.
  • Above 70 is considered overbought.
  • Below 30 is considered oversold.
  • Above or below 50 can also be used to determine price trend or support and resistance.
  • RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
  • Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Formula. The current rsi is 65.02. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 3/13.
The longshort score for the Relative Strength Index (RSI) is 2/(-13 +13).

  • Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
  • Trending down: The RSI is trending down. -1
Formula Daily Relative Strength Index (RSI) ChartFormula Daily Relative Strength Index (RSI) Chart
3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

  • Leading momentum indicator, meaning the signals are instant.
  • Used to determine overbought and oversold areas much like the RSI.
  • Ranges between 0 and 100.
  • Above 80 is considered overbought.
  • Below 20 is considered oversold.
  • Consists of two lines named K and D.
  • K compares the highest high and lowest low on the selected price range.
  • The D line is a moving average of the K line.
  • Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Formula. The current phase is Continuation in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

  • STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
  • STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Formula price going up in the near term. +2
  • Trending down: The STOCH %K is trending down. -1
Formula Daily Stochastic Oscillator ChartFormula Daily Stochastic Oscillator Chart
3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

  • Lagging or leading Momentum indicator
  • When the CCI is above zero, the price is above the historical average
  • When the CCI is below zero, the price is below the historical average
  • Used for spotting trends
    • If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
    • If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Formula. The current cci is 115.08.

The long score for the Commodity Channel Index (CCI) is 1/1.
The longshort score for the Commodity Channel Index (CCI) is 1/(-1 +1).

  • CCI > 100: The CCI is above 100, it indicates that the price is significantly above its average, suggesting a potential overbought condition. +1
Formula Daily Commodity Channel Index (CCI) ChartFormula Daily Commodity Channel Index (CCI) Chart
3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

  • Lagging momentum indicator
  • Ranges between +100 and -100
  • Considered overbought above +50
  • Considered oversold below -50
  • It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Formula. The current cmo is 27.48.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

  • CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1
Formula Daily Chande Momentum Oscillator (CMO) ChartFormula Daily Chande Momentum Oscillator (CMO) Chart
3.5 Williams %R

 Shows the current price relative to the highest high over the last 14 days.
 

  • Lagging momentum indicator
  • Ranging between 0 and -100
  • Above -20 is considered overbought
  • Below -80 is considered oversold
  • Is prone to give false signals

Score

Let's take a look at the Williams %R of Formula. The current willr is -24.93946731.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

  • WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Formula is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.
Formula Daily Williams %R ChartFormula Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

  • Lagging volatility indicator
  • Uses 3 bands: one upper, one lower and one in the middle
  • Works best when the middle band reflects an intermediate trend (MA20).
  • When the price is moving closer to the upper band, the market might be overbought
  • When the price is moving closer to the lower band, the market might be oversold 

Score

Let's take a look at the Bollinger Bands of Formula.

Formula Daily Bollinger Bands Chart
4.2 Average True Range (ATR)
Measures market volatility
  • Leading volatility indicator
  • Can be used to determine stop-loss positions
  • Calculated by:
    • Current high minus the current low
    • Current high minus the previous close
    • Current low minus the previous close
  • The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Formula. The current atr is 862.88.

Formula Daily Average True Range (ATR) ChartFormula Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

 Measures market volatility

  • Leading momentum indicator
  • Calculation:
    • If the closing price is above the previous closing price: OBV = previous OBV + current volume
    • If the closing price is below the previous closing price: OBV = previous OBV - current volume
    • If the closing price is the same as the previous closing price than the OBV is the same.
  • Can be used to confirm price trends
  • Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Formula. The current obv is -214,656.

Formula Daily On-Balance Volume (OBV) ChartFormula Daily On-Balance Volume (OBV) Chart
5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

  • Lagging momentum indicator
  • Looks like RSI but uses volume as an extra metric (RSI only considers price)
  • Above 80 is considered overbought
  • Below 20 is considered oversold
  • Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Formula. The current mfi is 62.27.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

  • MFI > 50: +1
Formula Daily Money Flow Index (MFI) ChartFormula Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

TypeNotificationDate
PenkeCurrently no notifications for Formula.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

DateIndicatorSignal
2023-11-12CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2023-11-14STOCH SHORT EXITThe %K line crosses above the %D line.
2023-11-21CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2023-11-22CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2023-11-23STOCH LONG EXITThe %K line crosses below the %D line.
2023-11-26SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2023-11-27STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2023-11-28STOCH SHORT EXITThe %K line crosses above the %D line.
2023-11-30STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-03STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-04STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-05STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-06STOCH LONG EXITThe %K line crosses below the %D line.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2023-12-07STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-11STOCH LONG EXITThe %K line crosses below the %D line.
CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
2023-12-13SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH SHORT EXITThe %K line crosses above the %D line.
2023-12-14DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-18STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-19STOCH SHORT EXITThe %K line crosses above the %D line.
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2023-12-21STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-25STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2023-12-26STOCH LONG EXITThe %K line crosses below the %D line.
2023-12-27WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2023-12-28CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2023-12-31DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-01-01DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-01-02STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-04STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-07STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-08DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-01-09MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-01-10CCI SHORT ENTRY LONG CLOSE-100 crossover to downside
2024-01-11SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH SHORT EXITThe %K line crosses above the %D line.
2024-01-14CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-16STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-01-17STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-01-18MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2024-01-21DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-01-22SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-01-24STOCH LONG EXITThe %K line crosses below the %D line.
2024-01-25STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-01-30STOCH LONG EXITThe %K line crosses below the %D line.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-01-31MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
2024-02-01DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
CMO SHORT ENTRY LONG CLOSEZero line crossover to downside
2024-02-04DMI SHORT ENTRY LONG CLOSEThe +DI crossed the -DI to the downside. The trend is reversing to a down trend.
WILLR SHORT ENTRY LONG CLOSE-80 crossover to downside
ATR SHORT ENTRY LONG CLOSEPrice closed below (close - ATR).
2024-02-05SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
2024-02-06STOCH SHORT EXITThe %K line crosses above the %D line.
CMO LONG ENTRY SHORT CLOSEZero line crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).
2024-02-08DMI LONG ENTRY SHORT CLOSEThe +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-02-12MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-02-14STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-15STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
2024-02-18BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2024-02-19STOCH LONG EXITThe %K line crosses below the %D line.
2024-02-20MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2024-02-21STOCH SHORT EXITThe %K line crosses above the %D line.
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2024-02-22STOCH LONG EXITThe %K line crosses below the %D line.
MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2024-02-25STOCH SHORT EXITThe %K line crosses above the %D line.
MFI LONG ENTRY SHORT CLOSE80 crossover to upside
2024-02-26BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2024-02-28STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-04MFI SHORT ENTRY LONG CLOSE80 crossover to downside
2024-03-05SAR SHORT ENTRY LONG CLOSEThe price broke the SAR to the downside
STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-06RSI SHORT ENTRY LONG CLOSE70 crossover to downside
STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-10MACD SHORT ENTRY LONG CLOSEThe MACD line crosses below the signal line.
2024-03-11STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-12STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-13STOCH SHORT EXITThe %K line crosses above the %D line.
2024-03-17SAR LONG ENTRY SHORT CLOSEThe price broke the SAR to the upside.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
2024-03-18MACD LONG ENTRY SHORT CLOSEThe MACD line crosses above the signal line.
2024-03-19WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
BB SHORT ENTRY LONG CLOSEPrice closed above the lower band.
2024-03-21STOCH LONG EXITThe %K line crosses below the %D line.
2024-03-25RSI SHORT ENTRY LONG CLOSE70 crossover to downside
2024-03-27STOCH SHORT EXITThe %K line crosses above the %D line.
CCI LONG ENTRY SHORT CLOSE100 crossover to upside
WILLR LONG ENTRY SHORT CLOSE-20 crossover to upside
ATR LONG ENTRY SHORT CLOSEPrice closed above (close + ATR).

6.3. Candlestick Patterns

Formula Daily Candlestick Chart
DateCandlestick Pattern

6.4. Technical Score

Let's check the technical score of Formula based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5065.019
Ma 20Greater thanMa 5028,285.500
Ma 50Greater thanMa 10026,446.800
Ma 100Greater thanMa 20024,821.600
OpenGreater thanClose30,300.000
Total4/5 (80.0%)
Penke

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