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Formula Systems (1985) vs Wipro: revenue, profit, margins and growth compared

Formula Systems (1985) brought in $2.8B of revenue in fiscal 2024, Wipro $10.4B in fiscal 2025. Revenue changed by +5.2% at Formula Systems (1985) and -3.2% at Wipro on the year before, so Formula Systems (1985) grew faster. Formula Systems (1985) kept 2.9% of its revenue as net profit, Wipro 14.7%. Free cash flow was $308M at Formula Systems (1985) and $1.8B at Wipro.

Open the FORTY pageOpen the WIT page

Side by side, latest fiscal year

FORTYWIT
Fiscal year endedFY2024 (December 31, 2024)FY2025 (March 31, 2025)
Revenue$2.8B$10.4B
Revenue growth+5.2%-3.2%
Net income$79.7M$1.5B
Net margin2.9%14.7%
Free cash flow$308M$1.8B
Free cash flow margin11.2%17.4%
Earnings per share (diluted)$5.09$0.14
Cash$507.8M$1.4B
Debtn/an/a
Price to earningsn/an/a
Market value$1.8B$17.3B
Dividend yieldn/an/a
Rank by revenue in sector#127 of 530 · Technology#57 of 530 · Technology

Over the years

Revenue
FORTY FY2017: $1.4BFORTY FY2018: $1.5BFORTY FY2019: $1.7BFORTY FY2020: $1.9BFORTY FY2021: $2.4BFORTY FY2022: $2.6BFORTY FY2023: $2.6BFORTY FY2024: $2.8BWIT FY2018: $8.4BWIT FY2019: $8.5BWIT FY2020: $8.1BWIT FY2021: $8.5BWIT FY2022: $10.4BWIT FY2023: $11BWIT FY2024: $10.8BWIT FY2025: $10.4BFY17FY18FY19FY20FY21FY22FY23FY24FY25
FORTY $2.8BWIT $10.4B
Net income
FORTY FY2017: $10.4MFORTY FY2018: $77.4MFORTY FY2019: $94.4MFORTY FY2020: $114MFORTY FY2021: $141.9MFORTY FY2022: $81.4MFORTY FY2023: $64MFORTY FY2024: $79.7MWIT FY2018: $1.2BWIT FY2019: $1.3BWIT FY2020: $1.3BWIT FY2021: $1.5BWIT FY2022: $1.6BWIT FY2023: $1.4BWIT FY2024: $1.3BWIT FY2025: $1.5BFY17FY18FY19FY20FY21FY22FY23FY24FY25
FORTY $79.7MWIT $1.5B
Net margin
FORTY FY2017: 0.8%FORTY FY2018: 5.2%FORTY FY2019: 5.6%FORTY FY2020: 5.9%FORTY FY2021: 5.9%FORTY FY2022: 3.2%FORTY FY2023: 2.4%FORTY FY2024: 2.9%WIT FY2018: 14.7%WIT FY2019: 15.3%WIT FY2020: 15.9%WIT FY2021: 17.4%WIT FY2022: 15.4%WIT FY2023: 12.5%WIT FY2024: 12.3%WIT FY2025: 14.7%FY17FY18FY19FY20FY21FY22FY23FY24FY25
FORTY 2.9%WIT 14.7%
Revenue growth
FORTY FY2018: +10.2%FORTY FY2019: +13.9%FORTY FY2020: +13.7%FORTY FY2021: +24.3%FORTY FY2022: +7.0%FORTY FY2023: +1.9%FORTY FY2024: +5.2%WIT FY2019: +1.2%WIT FY2020: -4.5%WIT FY2021: +4.6%WIT FY2022: +23.1%WIT FY2023: +5.6%WIT FY2024: -2.2%WIT FY2025: -3.2%FY18FY19FY20FY21FY22FY23FY24FY25
FORTY +5.2%WIT -3.2%
Free cash flow
FORTY FY2017: $71.5MFORTY FY2018: $71MFORTY FY2019: $173.7MFORTY FY2020: $271.5MFORTY FY2021: $191.7MFORTY FY2022: $217.1MFORTY FY2023: $278.3MFORTY FY2024: $308MWIT FY2018: $957MWIT FY2019: $1.4BWIT FY2020: $1BWIT FY2021: $1.8BWIT FY2022: $1.2BWIT FY2023: $1.4BWIT FY2024: $2BWIT FY2025: $1.8BFY17FY18FY19FY20FY21FY22FY23FY24FY25
FORTY $308MWIT $1.8B

Fiscal years as each company reports them; the two may end in different months.

Questions about Formula Systems (1985) and Wipro

Which is bigger by revenue, Formula Systems (1985) or Wipro?

Wipro is bigger by revenue: $10.4B in fiscal 2025, against $2.8B for Formula Systems (1985) in fiscal 2024.

Which keeps more of its revenue as profit, Formula Systems (1985) or Wipro?

Formula Systems (1985) had a net margin of 2.9% in fiscal 2024; Wipro had 14.7% in fiscal 2025.

Which grew revenue faster, Formula Systems (1985) or Wipro?

In their latest fiscal years revenue changed by +5.2% at Formula Systems (1985) and -3.2% at Wipro.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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