What is Formula Systems (1985) Ltd.'s Shariah compliance score?

Formula Systems (1985) Ltd.'s (FORTY) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Formula Systems (1985) Ltd. pass AAOIFI screening?

Formula Systems (1985) Ltd. (FORTY) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (FORTY: 35.1%), (3) interest-bearing deposits below 30% (FORTY: 75.9%), and (4) prohibited income below 5% (FORTY: 0.0%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Formula Systems (1985) Ltd. stock?

Formula Systems (1985) Ltd. (FORTY) has a non-permissible income ratio of 0.00%. Muslim investors should purify this percentage of any dividends received and capital gains realized from FORTY shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Formula Systems (1985) Ltd. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Formula Systems (1985) Ltd. (FORTY) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about FORTY's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

FORTY: Is Formula Systems (1985) Ltd. Halal?

Formula Systems (1985) Ltd.

NASDAQTechnologyIL

$110.00

-0.93%

Market Cap: 1.7B

Compliance Status

Not Halal

Screened on Jul 19, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Formula Systems (1985) Ltd. (FORTY) halal? Not Halal. Based on AAOIFI screening, Formula Systems (1985) Ltd. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

35.1% of 30.0% limit

What this means for you

Most scholars advise not holding FORTY

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Formula Systems (1985) Ltd.

Formula Systems (1985) Ltd. is a global provider of diverse IT solutions and services, operating through its various subsidiaries. The company specializes in delivering both its own proprietary software and third-party solutions, alongside comprehensive IT professional services, software product marketing and support, and integrated computer infrastructure solutions. Its extensive range of offerings includes robust computer and telecommunication infrastructure solutions, specialized computer solutions for existing communication setups, cutting-edge cloud computing services, and advanced database and big data management. Formula Systems also supplies critical software tools for areas such as customer relationship management, computer systems infrastructure oversight, web content management, database and data warehouse mining, application integration, general database and system management, and software development. Additionally, it offers professional training courses and advanced educational programs. The company is also involved in the sale of computers and peripheral equipment to business clients. A significant part of its portfolio comprises specialized insurance technology platforms under the "Sapiens" brand. These include solutions for property and casualty insurance (e.g., Sapiens, Sapiens CoreSuite, Sapiens IDITSuite, Sapiens PolicyPro, Sapiens BillingPro, Sapiens ClaimsPro, e-Tica, and Tia Enterprise), life, pension, and annuities management (e.g., Sapiens CoreSuite, Sapiens UnderwritingPro, Sapiens ApplicationPro, Sapiens IllustrationPro, and Sapiens ConsolidationMaster), and reinsurance operations (e.g., Sapiens ReinsuranceMaster, Sapiens ReinsurancePro, and Sapiens Reinsurance GO). It also provides a dedicated Sapiens platform for workers' compensation solutions. Furthermore, Formula Systems delivers financial and compliance solutions, such as Sapiens FinancialPro, Sapiens Financial GO, and Sapiens StatementPro, alongside the Sapiens DECISION platform for advanced decision management, and a broader array of general technology-driven solutions. Its services are rounded out with platforms for application development and seamless business process integration, industry-specific software, strategic consulting, outsourcing, and a wide spectrum of other professional services. The company also develops on-premise payroll software. Formula Systems (1985) Ltd. was established in 1985 and is headquartered in Or Yehuda, Israel.

Sector: Technology · Industry: Information Technology Services

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 19, 2026

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: FY 2025Data source: FMP

Halal Alternatives in Technology

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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Frequently Asked Questions

Is Formula Systems (1985) Ltd. (FORTY) halal to invest in?

Formula Systems (1985) Ltd. (FORTY) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Formula Systems (1985) Ltd. get a F compliance rating?

Formula Systems (1985) Ltd. (FORTY) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 35.1% (limit 30%); interest-bearing deposits of 75.9% (limit 30%); prohibited income of 0.00% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Formula Systems (1985) Ltd.'s Shariah verdict?

Formula Systems (1985) Ltd.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Formula Systems (1985) Ltd. re-screened for Shariah compliance?

Formula Systems (1985) Ltd. (FORTY) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 19, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.