FORTY
Formula Systems (1985) Ltd.
FORTY offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
NVDA
NVIDIA Corporation
NVDA has the edge over FORTY overall, supported by stronger fundamentals and stronger modeled upside.
FORTY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Strong |
FORTY's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
NVDA Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
NVDA's revenue, profitability, cash flow and balance sheet are all currently strong.
FORTY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 3.1x | $121 | — |
| Cheap | 14x | $537 | +344% |
| Fair | 19x | $755 | +524% |
| Expensive | 30x | $1,202 | +893% |
Historical ranges are pointers, not guarantees.
FORTY's PE is in its cheap range at 3.0x.
NVDA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $166 | — |
| Current | 21x | $166 | — |
| Cheap | 44x | $345 | +108% |
| Fair | 65x | $511 | +207% |
| Expensive | 93x | $734 | +342% |
Historical ranges are pointers, not guarantees.
NVDA has the edge over FORTY in the historical PE scenario, which offers more potential upside but is not a forecast.
FORTY Forward outlook
There aren't enough analyst estimates for FORTY to show an outlook.
NVDA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Broad | |
| Moderate |
Analysts expect strong earnings and revenue growth for NVDA, but weaker profitability.
FORTY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $39.70 | +699% |
| Q1 2026 | $39.18 | +651% |
| Q4 2025 | $38.16 | +650% |
| Q3 2025 | $4.19 | -13% |
| Q2 2025 | $4.97 | +15% |
| Q1 2025 | $5.22 | +24% |
| Q4 2024 | $5.09 | +23% |
| Q3 2024 | $4.82 | +17% |
FORTY's earnings per share have jumped to their highest in seven years: $39.70 over the past year, up from $4.97 the year before.
NVDA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $13.77 | +74% |
| Q3 2026 | $7.91 | +125% |
| Q2 2026 | $6.53 | +111% |
| Q1 2026 | $4.90 | +67% |
| Q4 2025 | $4.03 | +59% |
| Q3 2025 | $3.51 | +65% |
| Q2 2025 | $3.10 | +81% |
| Q1 2025 | $2.94 | +147% |
| Q4 2024 | $2.54 | +234% |
NVDA has the edge over FORTY on earnings, with more consistent year-over-year improvement.
FORTY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $782.4M | +3% |
| Q1 2026 | $738.3M | +20% |
| Q4 2025 | $712.8M | +28% |
| Q3 2025 | $699.9M | 0% |
| Q2 2025 | $759.3M | +14% |
| Q1 2025 | $616.2M | -12% |
| Q4 2024 | $558.2M | -13% |
| Q3 2024 | $699.9M | +6.9% |
FORTY's revenue has picked up after three years of holding roughly level: $782M last quarter, up 3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 9.2% | 0 points |
| Q1 2026 | 11% | +3.1 points |
| Q4 2025 | 4.6% | -4 points |
| Q3 2025 | 7.8% | -2.3 points |
| Q2 2025 | 9.1% | -0.6 points |
| Q1 2025 | 8% | -1 points |
| Q4 2024 | 8.6% | -0.8 points |
| Q3 2024 | 10% | +1.3 points |
FORTY's operating margin was 9.2% last quarter, about level with the same quarter a year ago.
NVDA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $96.2B | +106% |
| Q2 2026 | $81.6B | +85% |
| Q1 2026 | $68.1B | +73% |
| Q4 2025 | $57B | +62% |
| Q3 2025 | $46.7B | +56% |
| Q2 2025 | $44.1B | +69% |
| Q1 2025 | $39.3B | +78% |
| Q4 2024 | $35.1B | +94% |
NVDA has the edge over FORTY on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 66% | +5.4 points |
| Q2 2026 | 66% | +17 points |
| Q1 2026 | 65% | +3.9 points |
| Q4 2025 | 63% | +0.8 points |
| Q3 2025 | 61% | -1.2 points |
| Q2 2025 | 49% | -16 points |
| Q1 2025 | 61% | -0.5 points |
| Q4 2024 | 62% | +4.9 points |
NVDA has the edge over FORTY on profitability, with a higher operating margin.
FORTY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | $0 |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | $0 |
| Q3 2025 | $0 | $0 |
| Q2 2025 | $0 | $0 |
| Q1 2025 | $0 | $0 |
| Q4 2024 | $0 | $0 |
| Q3 2024 | $0 | $0 |
FORTY's free cash flow has been positive every quarter for seven years: $0 over the past year, against $0 the year before.
NVDA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.4B | +59% |
| Q2 2026 | $48.6B | +86% |
| Q1 2026 | $34.9B | +124% |
| Q4 2025 | $22.1B | +32% |
| Q3 2025 | $13.5B | -0.3% |
| Q2 2025 | $26.2B | +75% |
| Q1 2025 | $15.6B | +38% |
| Q3 2024 | $13.5B | +113% |
NVDA has the edge over FORTY on cash flow, with more consistent year-over-year improvement.
FORTY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +2.9K shares |
| 1 year | +0.5% | +81.1K shares |
| 3 years | +2.3% | +358K shares |
| 5 years | +3.1% | +476K shares |
| Available history | +3.6% | +549K shares |
FORTY has 16M diluted shares, up 0.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
FORTY hasn't bought back shares in the past year.
NVDA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -106M shares |
| 1 year | -1% | -247M shares |
| 3 years | -2.8% | -705M shares |
| 5 years | -4.1% | -1B shares |
| Available history | -1.8% | -435M shares |
NVDA has the edge over FORTY on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $19.7B |
| Q2 2026 | $19.3B |
| Q1 2026 | $3.8B |
| Q4 2025 | $12.5B |
| Q3 2025 | $9.7B |
| Q2 2025 | $14.1B |
| Q1 2025 | $7.8B |
| Q4 2024 | $11B |
NVDA spent $55.3B buying back its own shares over the past year, up 30% from the year before.
FORTY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -1.8x | Net Cash |
| Q4 2025 | -3.1x | Net Cash |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.7x | Very low |
| Q3 2024 | 0.7x | Very low |
FORTY has the edge over NVDA on leverage, with a lower net debt burden relative to earnings.
NVDA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.1x | Very low |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
NVDA's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
FORTY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.7 | Neutral |
| Stochastic | 52.6 | Neutral |
FORTY's weekly RSI is 51 (neutral) and its Stochastic is 53 (neutral).
NVDA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.4 | Neutral |
| Stochastic | 18.1 | Oversold |
NVDA's weekly RSI is 33 (neutral) and its Stochastic is 18 (oversold).
FORTY PE vs Technology Sector
| Metric | FORTY | Sector median | Relative |
|---|---|---|---|
| PE | 3.1x | 28x | 89% below |
| PE % | 6 | 35 | 29 pts below |
FORTY has the edge over NVDA on valuation relative to its sector.
NVDA PE vs Technology Sector
| Metric | NVDA | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 28x | 25% below |
| PE % | 0 | 35 | 35 pts below |
NVDA is trading at 21x earnings, a 25% discount to the Technology sector's median of 28x.
FORTY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $116.4 | 3.9% above |
| 20 week MA | $115.5 | 4.8% above |
| 50 week MA | $130.7 | 7.4% below |
| 100 week MA | $122.0 | 0.8% below |
| 200 week MA | $97.6 | 24% above |
FORTY has the edge over NVDA on trend strength, trading above more of its moving averages.
NVDA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $208.9 | 20% below |
| 20 week MA | $212.0 | 22% below |
| 50 week MA | $199.9 | 17% below |
| 100 week MA | $175.1 | 5.1% below |
| 200 week MA | $123.6 | 34% above |
NVDA has fallen below most of its moving averages, though it's still 34% above its 200-week average.
FORTY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $68.2 | $81.8 | +20% |
| 2021 | $81.8 | $119.9 | +47% |
| 2022 | $119.9 | $75.0 | -37% |
| 2023 | $75.0 | $65.3 | -13% |
| 2024 | $65.3 | $93.4 | +43% |
| 2025 | $93.4 | $190.6 | +104% |
| 2026 YTD | $190.6 | $121.0 | -37% |
FORTY is down 37% so far in 2026, after finishing higher in four of the previous six years.
NVDA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $5.92 | $13.0 | +119% |
| 2021 | $13.0 | $29.6 | +128% |
| 2022 | $29.6 | $15.2 | -49% |
| 2023 | $15.2 | $49.5 | +226% |
| 2024 | $49.5 | $137.0 | +177% |
| 2025 | $137.0 | $190.5 | +39% |
| 2026 YTD | $190.5 | $166.2 | -13% |
NVDA has the edge over FORTY on returns for 2026, with the stronger performance.