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BrainsWay Ltd. (BWAY) 10-Year Financial Performance & Capital Metrics

BWAY • • Industrial / General
HealthcareMedical DevicesNeurological & Neurostimulation DevicesNeurostimulation & Neuromodulation
AboutBrainsway Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States, Europe, Israel, and internationally. It offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post stroke rehabilitation, and Parkinson's diseases. The company primarily serves doctors, hospitals, and medical centers in the field of psychiatry. Brainsway Ltd. was founded in 2003 and is headquartered in Jerusalem, Israel.Show more
  • Revenue $41M +29.0%
  • EBITDA $3M +187.3%
  • Net Income $3M +169.6%
  • EPS (Diluted) 0.18 +169.2%
  • Gross Margin 74.56% +0.9%
  • EBITDA Margin 7.71% +167.7%
  • Operating Margin 3.39% +121.7%
  • Net Margin 7.12% +153.9%
  • ROE 5.62% +158.3%
  • ROIC 6.93% +127.8%
  • Debt/Equity 0.09 +696.8%
  • Interest Coverage 1.03 +106.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓FCF machine: 15.9% free cash flow margin
  • ✓Momentum leader: RS Rating 93 (top 7%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 12.2%

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y28.35%
5Y12.17%
3Y11.41%
TTM27.08%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM316.53%

EPS CAGR

10Y-
5Y-
3Y-
TTM125%

ROCE

10Y Avg-19.14%
5Y Avg-10.91%
3Y Avg-9.19%
Latest2.1%

Peer Comparison

Neurostimulation & Neuromodulation
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
BWAYBrainsWay Ltd.452.42M23.10128.3329.04%12.73%8.92%1.44%0.09
INSPInspire Medical Systems, Inc.2.8B96.4755.1328.49%5.05%6.69%3.25%0.05
TIVCTivic Health Systems, Inc.3.11M1.23-0.06-33.67%-15.57%-134.25%
COCHEnvoy Medical, Inc.19.42M0.67-0.45-28.8%-104.75%
HSDTSolana Company128.03M3.10-0.72-19.25%-393.59%-6.89%0.01
NXLNexalin Technology, Inc.12.87M0.69-0.8352.35%-55.3%-182.01%
CVRXCVRx, Inc.143.37M5.47-2.0630.53%-92.95%-108.26%0.71
VANIVivani Medical, Inc.91.92M1.26-2.93-19.88%1.10

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+6.8M11.52M11.14M16.4M23.1M22.06M29.66M27.18M31.79M41.02M
Revenue Growth %1.01%0.69%-0.03%0.47%0.41%-0.05%0.34%-0.08%0.17%0.29%
Cost of Goods Sold+1.47M2.43M2.6M3.59M5.13M5.06M6.6M7.13M8.31M10.44M
COGS % of Revenue0.22%0.21%0.23%0.22%0.22%0.23%0.22%0.26%0.26%0.25%
Gross Profit+5.33M9.1M8.55M12.81M17.97M17M23.06M20.05M23.48M30.58M
Gross Margin %0.78%0.79%0.77%0.78%0.78%0.77%0.78%0.74%0.74%0.75%
Gross Profit Growth %0.96%0.71%-0.06%0.5%0.4%-0.05%0.36%-0.13%0.17%0.3%
Operating Expenses+9.84M11.17M15.16M17.92M26.45M21.83M28.06M32.73M28.44M29.19M
OpEx % of Revenue1.45%0.97%1.36%1.09%1.14%0.99%0.95%1.2%0.89%0.71%
Selling, General & Admin5.54M6.95M9.29M11.34M17.66M16M21.66M25.05M21.64M22M
SG&A % of Revenue0.81%0.6%0.83%0.69%0.76%0.73%0.73%0.92%0.68%0.54%
Research & Development4.1M3.79M5.34M6.16M7.88M5.82M6.39M7.68M6.67M7.19M
R&D % of Revenue0.6%0.33%0.48%0.38%0.34%0.26%0.22%0.28%0.21%0.18%
Other Operating Expenses200K426K523K427K916K000133K0
Operating Income+-4.5M-2.07M-6.61M-5.11M-8.48M-4.83M-5M-12.68M-4.96M1.39M
Operating Margin %-0.66%-0.18%-0.59%-0.31%-0.37%-0.22%-0.17%-0.47%-0.16%0.03%
Operating Income Growth %0.38%0.54%-2.2%0.23%-0.66%0.43%-0.04%-1.54%0.61%1.28%
EBITDA+-3.89M-1.42M-5.54M-3.89M-5.68M-3.21M-3.31M-11.15M-3.62M3.16M
EBITDA Margin %-0.57%-0.12%-0.5%-0.24%-0.25%-0.15%-0.11%-0.41%-0.11%0.08%
EBITDA Growth %0.44%0.64%-2.9%0.3%-0.46%0.43%-0.03%-2.37%0.68%1.87%
D&A (Non-Cash Add-back)611K649K1.07M1.23M2.79M1.62M1.69M1.53M1.34M1.77M
EBIT-3.99M-1.99M-6.8M-5.92M-9.51M-5.08M-6.36M-12.99M-3.9M3.59M
Net Interest Income+-19K-49K-112K-351K-331K-45K84K1.04M1.87M1.12M
Interest Income18K12K22K44K175K61K225K1.11M2.17M2.48M
Interest Expense37K61K134K395K506K106K141K68K298K1.36M
Other Income/Expense418K-328K-274K-1.16M-1.43M-319K-1.42M-351K1.01M2.07M
Pretax Income+-4.09M-2.4M-6.88M-6.27M-9.91M-5.15M-6.42M-13.03M-3.95M3.46M
Pretax Margin %-0.6%-0.21%-0.62%-0.38%-0.43%-0.23%-0.22%-0.48%-0.12%0.08%
Income Tax+00169K209K422K237K43K315K251K538K
Effective Tax Rate %1%1%1.02%1.03%1.04%1.05%1.01%1.02%1.06%0.84%
Net Income+-4.09M-2.4M-7.05M-6.48M-10.33M-5.38M-6.46M-13.35M-4.2M2.92M
Net Margin %-0.6%-0.21%-0.63%-0.4%-0.45%-0.24%-0.22%-0.49%-0.13%0.07%
Net Income Growth %0.38%0.41%-1.94%0.08%-0.59%0.48%-0.2%-1.07%0.69%1.7%
Net Income (Continuing)-4.09M-2.4M-7.05M-6.48M-10.33M-5.38M-6.46M-13.35M-4.2M2.92M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-0.56-0.34-0.96-0.78-1.00-0.48-0.42-0.86-0.260.18
EPS Growth %0.39%0.39%-1.82%0.19%-0.28%0.52%0.13%-1.05%0.7%1.69%
EPS (Basic)-0.56-0.34-0.96-0.78-1.00-0.48-0.42-0.86-0.260.17
Diluted Shares Outstanding7.23M7.25M7.38M8.32M10.25M11.23M15.58M16.49M16.58M17.38M
Basic Shares Outstanding7.23M7.25M7.38M8.32M10.25M11.23M15.58M16.49M16.58M16.98M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+14.86M13.11M17.89M13.48M28.83M24.3M65.45M58.09M55.47M79.67M
Cash & Short-Term Investments11.94M9.17M14.51M8.97M21.89M17.18M57.35M47.58M45.98M69.34M
Cash Only11.36M9.17M14.51M8.97M21.67M16.96M16.92M47.58M10.52M69.34M
Short-Term Investments585K000221K221K40.43M035.47M0
Accounts Receivable2.8M2.91M2.93M3.97M5.96M5.79M6.33M4.84M3.78M4.6M
Days Sales Outstanding150.2492.2395.8388.4694.1195.8177.9365.0643.4140.9
Inventory0585K271K91K306K442K200K3.84M3.72M4.43M
Days Inventory Outstanding-87.9838.129.2521.7831.911.06196.45163.3154.81
Other Current Assets0380K507K1.07M0212K388K1.83M691K1.3M
Total Non-Current Assets+7.38M6.85M9.14M10.12M9.91M9.71M10.29M6.39M7.51M14.65M
Property, Plant & Equipment7.33M6.82M7.09M7.63M15.23M9.55M9.33M5.35M5.79M11.95M
Fixed Asset Turnover0.93x1.69x1.57x2.15x1.52x2.31x3.18x5.08x5.49x3.43x
Goodwill0000000000
Intangible Assets16K9K18K0000000
Long-Term Investments0000000000
Other Non-Current Assets34K24K2.03M2.5M-5.32M163K954K766K1.72M1.64M
Total Assets+22.24M19.96M27.03M23.6M38.74M34.01M75.73M64.48M62.97M94.32M
Asset Turnover0.31x0.58x0.41x0.69x0.60x0.65x0.39x0.42x0.50x0.43x
Asset Growth %-0.14%-0.1%0.35%-0.13%0.64%-0.12%1.23%-0.15%-0.02%0.5%
Total Current Liabilities+4.9M4.39M6.13M8.34M6.72M6.8M9.07M8.14M9.76M15.35M
Accounts Payable944K810K1.63M2.24M1.32M781K1.1M1.12M758K2.87M
Days Payables Outstanding235.03121.82229.41228.1193.9456.3660.9557.1433.3100.32
Short-Term Debt127K810K0750K000000
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K01000K
Other Current Liabilities2.72M1.46M2.88M2.12M1.93M1.68M2.12M2.92M4.07M2.72M
Current Ratio3.04x2.98x2.92x1.62x4.29x3.57x7.22x7.14x5.68x5.19x
Quick Ratio3.04x2.85x2.87x1.61x4.25x3.51x7.20x6.66x5.30x4.90x
Cash Conversion Cycle-58.39-95.46-130.421.9571.3528.04204.37173.4195.4
Total Non-Current Liabilities+4.45M5.28M8.18M8.31M7.8M7.58M9.34M10.94M11.63M16.66M
Long-Term Debt002.73M2.08M000000
Capital Lease Obligations00000243K254K254K239K4.8M
Deferred Tax Liabilities00112K140K000000
Other Non-Current Liabilities4.45M5.28M5.34M6.09M5.45M5.56M5.93M6.02M6.08M2.43M
Total Liabilities9.35M9.68M14.31M16.65M14.52M14.38M18.41M19.08M21.39M32M
Total Debt+127K810K2.73M2.83M414K672K754K488K471K5.62M
Net Debt-11.23M-8.36M-11.78M-6.13M-21.26M-16.29M-16.17M-47.09M-10.05M-63.72M
Debt / Equity0.01x0.08x0.21x0.41x0.02x0.03x0.01x0.01x0.01x0.09x
Debt / EBITDA---------1.78x
Net Debt / EBITDA----------20.15x
Interest Coverage-121.76x-33.92x-49.34x-12.95x-16.75x-45.56x-35.45x-186.51x-16.64x1.03x
Total Equity+12.89M10.29M12.72M6.95M24.22M19.63M57.33M45.4M41.58M62.31M
Equity Growth %-0.17%-0.2%0.24%-0.45%2.48%-0.19%1.92%-0.21%-0.08%0.5%
Book Value per Share1.781.421.720.842.361.753.682.752.513.58
Total Shareholders' Equity12.89M10.29M12.72M6.95M24.22M19.63M57.33M45.4M41.58M62.31M
Common Stock147K149K171K171K233K233K363K364K367K413K
Retained Earnings-45.65M-48.05M-55.1M-61.58M-71.91M-77.29M-83.76M-97.11M-101.3M-98.38M
Treasury Stock0000000000
Accumulated OCI-1.27M-1.27M-1.27M-2.19M-2.19M1.56M-2.19M-2.19M-2.19M-2.19M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-4.55M-2.4M-3.47M-3.77M-7.24M-1.44M884K-9.76M1.28M10.3M
Operating CF Margin %-0.67%-0.21%-0.31%-0.23%-0.31%-0.07%0.03%-0.36%0.04%0.25%
Operating CF Growth %-0.2%0.47%-0.44%-0.09%-0.92%0.8%1.62%-12.04%1.13%7.02%
Net Income-4.09M-2.4M-7.05M-6.48M-10.33M-5.38M-6.46M-13.35M-4.2M2.92M
Depreciation & Amortization611K649K1.07M1.23M1.6M1.62M1.69M1.53M1.34M1.77M
Stock-Based Compensation1.42M-420K1.03M710K1.26M799K1.89M1.47M381K1.42M
Deferred Taxes17K12K169K209K422K237K43K315K251K0
Other Non-Cash Items-419K334K230K763K1.95M1.12M2.66M1.72M1.88M1.8M
Working Capital Changes-2.09M-580K1.09M-204K-2.15M179K1.07M-1.45M1.64M2.39M
Change in Receivables-1.16M-499K-21K-419K-2.5M-104K-849K1.46M1.09M-867K
Change in Inventory-358K264K276K-330K00-411K-3.6M-506K-920K
Change in Payables-437K137K310K859K175K-552K289K0-327K2.12M
Cash from Investing+-1.78M-393K-2.45M-1.14M-2.45M-2.46M-42.22M42.17M-37.41M30.31M
Capital Expenditures-2.27M-408K-985K-1.97M-3.31M-2.47M-2.24M1.94M-2.39M-4.76M
CapEx % of Revenue0.33%0.04%0.09%0.12%0.14%0.11%0.08%0.07%0.08%0.12%
Acquisitions----------
Investments----------
Other Investing2K5K-2M1.01M00-39.98M0-35.02M35.08M
Cash from Financing+514K570K11.11M-265K22.47M-1.03M41.52M-1.55M-1.03M18.26M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing514K570K-39K-265K-425K-613K-269K-962K-755K2.33M
Net Change in Cash----------
Free Cash Flow+-6.82M-2.81M-4.45M-5.75M-10.55M-3.91M-1.35M-9.76M-1.1M6.5M
FCF Margin %-1%-0.24%-0.4%-0.35%-0.46%-0.18%-0.05%-0.36%-0.03%0.16%
FCF Growth %-0.29%0.59%-0.58%-0.29%-0.84%0.63%0.65%-6.21%0.89%6.9%
FCF per Share-0.94-0.39-0.60-0.69-1.03-0.35-0.09-0.59-0.070.37
FCF Conversion (FCF/Net Income)1.11x1.00x0.49x0.58x0.70x0.27x-0.14x0.73x-0.31x3.53x
Interest Paid000000000125K
Taxes Paid0000000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-28.71%-20.68%-61.32%-65.87%-66.26%-24.56%-16.79%-25.99%-9.65%5.62%
Return on Invested Capital (ROIC)-4223.44%-86.45%-346.49%-436.85%-336.62%-114.88%-16.85%-48.21%-24.93%6.93%
Gross Margin78.44%78.94%76.72%78.11%77.8%77.07%77.75%73.77%73.86%74.56%
Net Margin-60.1%-20.8%-63.29%-39.51%-44.71%-24.41%-21.79%-49.12%-13.2%7.12%
Debt / Equity0.01x0.08x0.21x0.41x0.02x0.03x0.01x0.01x0.01x0.09x
Interest Coverage-121.76x-33.92x-49.34x-12.95x-16.75x-45.56x-35.45x-186.51x-16.64x1.03x
FCF Conversion1.11x1.00x0.49x0.58x0.70x0.27x-0.14x0.73x-0.31x3.53x
Revenue Growth101.18%69.47%-3.29%47.12%40.89%-4.52%34.46%-8.36%16.96%29.04%

Revenue by Geography

201920202021202220232024
Other----7.81M7.79M
Other Growth------0.22%
USA20.64M19.33M26.09M21.22M--
USA Growth--6.33%34.99%-18.67%--
Europes1.35M1.85M2.03M1.75M--
Europes Growth-36.51%9.96%-13.98%--
Others845K730K1.38M15K--
Others Growth--13.61%89.45%-98.92%--
Israel267K150K149K---
Israel Growth--43.82%-0.67%---

Frequently Asked Questions

Valuation & Price

BrainsWay Ltd. (BWAY) has a price-to-earnings (P/E) ratio of 128.3x. This suggests investors expect higher future growth.

Growth & Financials

BrainsWay Ltd. (BWAY) reported $49.1M in revenue for fiscal year 2024. This represents a 13378% increase from $0.4M in 2012.

BrainsWay Ltd. (BWAY) grew revenue by 29.0% over the past year. This is strong growth.

Yes, BrainsWay Ltd. (BWAY) is profitable, generating $6.2M in net income for fiscal year 2024 (7.1% net margin).

Dividend & Returns

BrainsWay Ltd. (BWAY) has a return on equity (ROE) of 5.6%. This is below average, suggesting room for improvement.

BrainsWay Ltd. (BWAY) generated $18.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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