FORTY

Formula (1985)A

Nasdaq / Software & Services

At close

2026-07-20

Current thesis

Primary Q1 results showed strong reported growth, improved Matrix margins, and management confidence in sustained profitable growth through 2026. The diversified portfolio and TSG defense exposure provide multiple operating avenues.

Posture

Constructive

Lead driver

Value

What changed

Value remains the lead driver in the composite, 7D delta -0.2.

What can break

Matrix–Magic integration and broader acquisition strategy could create execution, margin, or realization risk.

Momentum

Value

Sentiment

Setup hits (3d)

0 · Net Neutral

AI TargetsBase $110.00 · Bull $125.00 · Bear $90.00

Data freshness

Prices

As of 2026-07-20

Fundamentals

As of 2026-07-20 • Vendor: Data Vendor v1

Scores

As of 2026-07-20 • Model: HYBRID_IC_RP

AI Memo

As of 2026-07-19 • Model: RankAlpha Sentiment Codex

Investment thesis

As of 2026-07-20

Supporting evidence

What

Grade A · Constructive

Confidence Medium · Net Neutral

Why

Momentum96 · Δ7d -

Value70 · Δ7d -0.2

Sentiment43 · Δ7d -

So what

Strength-led posture (Net Neutral). Favor watchlist adds and disciplined entries.

Lead driver: Value · See fundamentals

Momentum

26% active weight

Current posture

7d trendTrend unavailable

Trend unavailable

Δ7d

Δ21d

Value

39% active weight

Current posture

7d trendFlat

Δ7d

-0.2

Δ21d

-1.3

Sentiment

34% active weight

Current posture

7d trendTrend unavailable

Trend unavailable

Δ7d

Δ21d

Why this grade

Composite grade A. Momentum 96.0 / Value 70.4 / Sentiment 43.1

Fundamentals (TTM)

As of 2026-07-20

Market Cap

$1.72B

Beta

1.14

Shares Out

15.33M

P/E (TTM)

40.5

P/S (TTM)

0.90

P/FCF (TTM)

9.40

Rev YoY

+19.5%

EPS YoY

+84.9%

Gross Margin

+21.1%

Op Margin

+9.2%

Net Debt

-$689.29M

Current Ratio

1.68

As of 2026-07-20 • Updated nightlySource: Internal modelMethodology