No- its a little more complex than cows milk powder with vitamins. To enable babies to thrive (unmodified cows milk can actually harm babies) they modify the cows milk, and then add oils and sugars to similar levels found in breastmilk.
From Wikipedia- (and i know they are not the most reliable of sources but they say it better than i can)
The most commonly used infant formulas contain purified cow's milk whey and casein as a protein source, a blend of vegetable oils as a fat source, lactose as a carbohydrate source, a vitamin-mineral mix, and other ingredients depending on the manufacturer