hD

Balance Sheet Summary

Magic Software Enterprises (MGIC) annual balance sheet covering fiscal 2012 through 2017, as reported to the SEC.

  • Magic Software Enterprises had total assets of $342.54M as of December 31, 2017.
  • Total assets were up 8.3% from $316.4M in fiscal 2016.
  • Total current assets of $181.64M were 3.1 times total current liabilities of $59.24M.
  • Cash and cash equivalents were $76.08M, up 1% from $75.31M. That is 22.2% of total assets.
  • Long-term debt was $27.81M, or 8.1% of total assets, down 6.5% from $29.76M.
  • Magic Software Enterprises has built up retained earnings of $25.71M.

Total assets have grown 17.5% a year on average since fiscal 2012, from $152.95M to $342.54M, rising in every year shown.

A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.

Figures in USD thousands
Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12
ASSETS
CURRENT ASSETS:
Cash and cash equivalents

76,076

75,314

62,188

72,515

35,134

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash and cash equivalents

76,076

75,314

62,188

72,515

35,134

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Short-term bank deposits

732

2

2,677

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Short-term bank deposits

732

2

2,677

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketable securities (Note 4)

14,138

12,506

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Marketable securities (Note 4)

14,138

12,506

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash and cash equivalents

-

-

-

-

-

37,744

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash and cash equivalents

-

-

-

-

-

37,744

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Available-for-sale marketable securities (Note 4)

-

-

11,819

11,915

854

890

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Available-for-sale marketable securities (Note 4)

-

-

11,819

11,915

854

890

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Trade receivables (net of allowance for doubtful accounts of $ 3,710 and $ 3,852 at June 30, 2018 and December 31, 2017, respectively)

82,051

62,047

52,374

40,358

31,976

28,367

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Trade receivables (net of allowance for doubtful accounts of $ 3,710 and $ 3,852 at June 30, 2018 and December 31, 2017, respectively)

82,051

62,047

52,374

40,358

31,976

28,367

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accounts receivable and prepaid expenses

8,643

8,487

6,244

3,419

5,209

6,696

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accounts receivable and prepaid expenses

8,643

8,487

6,244

3,419

5,209

6,696

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current assets

181,640

158,356

135,302

128,207

73,173

73,697

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current assets

181,640

158,356

135,302

128,207

73,173

73,697

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

LONG-TERM RECEIVABLES:
Severance pay fund

3,226

2,568

1,454

1,426

403

351

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Severance pay fund

3,226

2,568

1,454

1,426

403

351

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax assets

2,990

3,548

2,823

2,137

1,674

1,565

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax assets

2,990

3,548

2,823

2,137

1,674

1,565

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other long-term receivables

2,015

1,680

1,088

2,376

2,118

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other long-term receivables

2,015

1,680

1,088

2,376

2,118

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Severance pay fund

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Severance pay fund

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other long-term receivables

-

-

-

-

-

722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other long-term receivables

-

-

-

-

-

722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total long-term receivables

8,231

7,796

5,365

5,939

4,195

2,638

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total long-term receivables

8,231

7,796

5,365

5,939

4,195

2,638

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

PROPERTY AND EQUIPMENT, NET

3,468

3,065

2,296

2,005

1,773

1,898

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

PROPERTY AND EQUIPMENT, NET

3,468

3,065

2,296

2,005

1,773

1,898

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

INTANGIBLE ASSETS, NET

51,011

56,180

33,575

32,543

32,549

30,058

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

INTANGIBLE ASSETS, NET

51,011

56,180

33,575

32,543

32,549

30,058

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

GOODWILL

98,189

91,002

63,308

55,490

55,313

44,663

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

GOODWILL

98,189

91,002

63,308

55,490

55,313

44,663

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total assets

342,539

316,399

239,846

224,184

167,003

152,954

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total assets

342,539

316,399

239,846

224,184

167,003

152,954

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Short-term debt

9,771

5,645

13

2,853

1,055

12

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Short-term debt

9,771

5,645

13

2,853

1,055

12

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Short-term credit and current maturities of long-term loans (Note 10)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Short-term credit and current maturities of long-term loans (Note 10)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Trade payables

12,185

8,393

6,331

3,861

4,149

4,722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Trade payables

12,185

8,393

6,331

3,861

4,149

4,722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued expenses and other accounts payable

27,789

20,290

16,710

15,013

16,937

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued expenses and other accounts payable

27,789

20,290

16,710

15,013

16,937

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Liabilities due to acquisition activities

3,906

6,478

1,211

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Liabilities due to acquisition activities

3,906

6,478

1,211

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued expenses and other accounts payable (Note 10)

-

-

-

-

-

17,176

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued expenses and other accounts payable (Note 10)

-

-

-

-

-

17,176

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued expenses and other accounts payable (Note 11)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued expenses and other accounts payable (Note 11)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liability (Note 12)

-

-

-

-

2,567

3,422

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liability (Note 12)

-

-

-

-

2,567

3,422

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred revenues and customer advances

5,586

3,882

4,092

3,431

3,294

4,160

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred revenues and customer advances

5,586

3,882

4,092

3,431

3,294

4,160

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current liabilities

59,237

44,688

28,357

25,158

28,002

29,492

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total current liabilities

59,237

44,688

28,357

25,158

28,002

29,492

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

ACCRUED SEVERANCE PAY

-

-

-

2,562

1,275

1,245

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

ACCRUED SEVERANCE PAY

-

-

-

2,562

1,275

1,245

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

LONG TERM LIABILITIES:
Long-term debt

27,814

29,756

3,257

490

2,274

12

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Long-term debt

27,814

29,756

3,257

490

2,274

12

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Long-term liabilities due to acquisition activities

581

3,379

1,039

474

1,396

1,192

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Long-term liabilities due to acquisition activities

581

3,379

1,039

474

1,396

1,192

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liabilities

11,331

12,494

5,726

4,846

2,204

738

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred tax liabilities

11,331

12,494

5,726

4,846

2,204

738

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued severance pay

4,174

3,443

2,616

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accrued severance pay

4,174

3,443

2,616

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax liability

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax liability

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loans (Note 12)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loans (Note 12)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total long-term liabilities

43,900

49,072

12,638

5,810

5,874

1,942

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total long-term liabilities

43,900

49,072

12,638

5,810

5,874

1,942

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

LIABILITIES DUE TO ACQUISITION ACTIVITIES (Note 3)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

LIABILITIES DUE TO ACQUISITION ACTIVITIES (Note 3)

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

COMMITMENTS AND CONTINGENCIES

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

COMMITMENTS AND CONTINGENCIES

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

REDEEMABLE NON-CONTROLLING INTEREST (Note 2)

25,839

25,998

5,745

2,930

2,721

1,914

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

REDEEMABLE NON-CONTROLLING INTEREST (Note 2)

25,839

25,998

5,745

2,930

2,721

1,914

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

EQUITY:
Ordinary shares of NIS 0.1 par value - Authorized: 50,000,000 shares at June 30, 2018 and December 31, 2017; Issued and Outstanding: 44,489,203 and 44,488,578 shares at June 30, 2018 and December 31, 2017, respectively

1,040

1,036

1,035

1,029

826

811

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Ordinary shares of NIS 0.1 par value - Authorized: 50,000,000 shares at June 30, 2018 and December 31, 2017; Issued and Outstanding: 44,489,203 and 44,488,578 shares at June 30, 2018 and December 31, 2017, respectively

1,040

1,036

1,035

1,029

826

811

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Additional paid-in capital

183,445

182,785

180,989

182,114

127,060

125,288

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Additional paid-in capital

183,445

182,785

180,989

182,114

127,060

125,288

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accumulated other comprehensive income (loss)

83

-7,428

-6,695

-5,347

-172

-586

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Accumulated other comprehensive income (loss)

83

-7,428

-6,695

-5,347

-172

-586

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Retained earnings

25,713

19,825

15,679

7,269

430

-7,727

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Retained earnings

25,713

19,825

15,679

7,269

430

-7,727

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total equity attributable to Magic Software Enterprises' shareholders

210,281

196,218

191,008

185,065

128,144

117,786

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total equity attributable to Magic Software Enterprises' shareholders

210,281

196,218

191,008

185,065

128,144

117,786

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-controlling interests

3,282

423

2,098

2,659

987

575

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-controlling interests

3,282

423

2,098

2,659

987

575

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total equity

213,563

196,641

193,106

187,724

129,131

118,361

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total equity

213,563

196,641

193,106

187,724

129,131

118,361

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total liabilities, redeemable non-controlling interest and equity

342,539

316,399

239,846

224,184

167,003

152,954

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total liabilities, redeemable non-controlling interest and equity

342,539

316,399

239,846

224,184

167,003

152,954

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx