BrainsWay Ltd. (BWAY) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
BrainsWay Ltd. (BWAY) stock price & volume — 10-year historical chart
BrainsWay Ltd. (BWAY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
BrainsWay Ltd. (BWAY) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 11, 2026 | $0.14vs $0.06+133.3% | $15Mvs $14M+3.8% |
| Q4 2025 | Nov 11, 2025 | $0.08vs $0.11-27.3% | $14Mvs $14M-3.6% |
| Q4 2025 | Sep 30, 2025 | $0.05 | $13M |
| Q2 2025 | May 13, 2025 | $0.04vs $0.02+100.0% | $12Mvs $12M-5.2% |
BrainsWay Ltd. (BWAY) competitors in Neuromodulation and neuro devices — business model, growth, and fundamentals comparison
BrainsWay Ltd. (BWAY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BrainsWay Ltd. (BWAY) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 11.14M | 16.4M | 23.1M | 22.06M | 29.66M | 27.18M | 31.79M | 41.02M | 52.64M |
| Revenue Growth % | -3.29% | 47.12% | 40.89% | -4.52% | 34.46% | -8.36% | 16.96% | 29.04% | 28.34% |
| Cost of Goods Sold | 2.6M | 3.59M | 5.13M | 5.06M | 6.6M | 7.13M | 8.31M | 10.44M | 12.94M |
| COGS % of Revenue | 23.28% | 21.89% | 22.2% | 22.93% | 22.25% | 26.23% | 26.14% | 25.44% | 24.58% |
| Gross Profit | 8.55M▲ 0% | 12.81M▲ 49.8% | 17.97M▲ 40.3% | 17M▼ 5.4% | 23.06M▲ 35.6% | 20.05M▼ 13.1% | 23.48M▲ 17.1% | 30.58M▲ 30.3% | 39.7M▲ 29.8% |
| Gross Margin % | 76.72% | 78.11% | 77.8% | 77.07% | 77.75% | 73.77% | 73.86% | 74.56% | 75.42% |
| Gross Profit Growth % | -6.01% | 49.8% | 40.32% | -5.41% | 35.64% | -13.05% | 17.1% | 30.26% | 29.81% |
| Operating Expenses | 15.16M | 17.92M | 26.45M | 21.83M | 28.06M | 32.73M | 28.44M | 29.19M | 35.34M |
| OpEx % of Revenue | 136.03% | 109.3% | 114.49% | 98.96% | 94.6% | 120.44% | 89.46% | 71.17% | 67.14% |
| Selling, General & Admin | 9.29M | 11.34M | 17.66M | 16M | 21.66M | 25.05M | 21.64M | 22M | 25.66M |
| SG&A % of Revenue | 83.4% | 69.15% | 76.43% | 72.56% | 73.05% | 92.18% | 68.08% | 53.64% | 48.75% |
| Research & Development | 5.34M | 6.16M | 7.88M | 5.82M | 6.39M | 7.68M | 6.67M | 7.19M | 9.68M |
| R&D % of Revenue | 47.94% | 37.54% | 34.09% | 26.4% | 21.56% | 28.25% | 20.97% | 17.53% | 18.39% |
| Other Operating Expenses | 523K | 427K | 916K | 0 | 0 | 0 | 133K | 0 | 0 |
| Operating Income | -6.61M▲ 0% | -5.11M▲ 22.6% | -8.48M▼ 65.7% | -4.83M▲ 43.0% | -5M▼ 3.5% | -12.68M▼ 153.7% | -4.96M▲ 60.9% | 1.39M▲ 128.1% | 4.36M▲ 213.2% |
| Operating Margin % | -59.32% | -31.19% | -36.69% | -21.89% | -16.86% | -46.67% | -15.6% | 3.39% | 8.28% |
| Operating Income Growth % | -219.53% | 22.64% | -65.74% | 43.03% | -3.52% | -153.71% | 60.9% | 128.05% | 213.25% |
| EBITDA | -5.54M | -3.89M | -5.68M | -3.21M | -3.31M | -11.15M | -3.62M | 3.16M | 5.91M |
| EBITDA Margin % | -49.7% | -23.7% | -24.59% | -14.56% | -11.17% | -41.02% | -11.4% | 7.71% | 11.22% |
| EBITDA Growth % | -290.07% | 29.84% | -46.19% | 43.48% | -3.18% | -236.52% | 67.51% | 187.3% | 86.83% |
| D&A (Non-Cash Add-back) | 1.07M | 1.23M | 2.79M | 1.62M | 1.69M | 1.53M | 1.34M | 1.77M | 1.55M |
| EBIT | -6.8M | -5.92M | -9.51M | -5.08M | -6.36M | -12.99M | -3.9M | 3.59M | 4.36M |
| Net Interest Income | -112K | -351K | -331K | -45K | 84K | 1.04M | 1.87M | 1.12M | 3.41M |
| Interest Income | 22K | 44K | 175K | 61K | 225K | 1.11M | 2.17M | 2.48M | 5.64M |
| Interest Expense | 134K | 395K | 506K | 106K | 141K | 68K | 298K | 1.36M | 2.23M |
| Other Income/Expense | -274K | -1.16M | -1.43M | -319K | -1.42M | -351K | 1.01M | 2.07M | 3.41M |
| Pretax Income | -6.88M▲ 0% | -6.27M▲ 8.9% | -9.91M▼ 58.0% | -5.15M▲ 48.0% | -6.42M▼ 24.7% | -13.03M▼ 103.1% | -3.95M▲ 69.7% | 3.46M▲ 187.7% | 7.77M▲ 124.7% |
| Pretax Margin % | -61.78% | -38.24% | -42.88% | -23.34% | -21.64% | -47.96% | -12.41% | 8.43% | 14.76% |
| Income Tax | 169K | 209K | 422K | 237K | 43K | 315K | 251K | 538K | 77.61K |
| Effective Tax Rate % | -2.45% | -3.33% | -4.26% | -4.6% | -0.67% | -2.42% | -6.36% | 15.55% | 1% |
| Net Income | -7.05M▲ 0% | -6.48M▲ 8.2% | -10.33M▼ 59.4% | -5.38M▲ 47.9% | -6.46M▼ 20.0% | -13.35M▼ 106.6% | -4.2M▲ 68.6% | 2.92M▲ 169.6% | 7.69M▲ 163.4% |
| Net Margin % | -63.29% | -39.51% | -44.71% | -24.41% | -21.79% | -49.12% | -13.2% | 7.12% | 14.62% |
| Net Income Growth % | -194.28% | 8.15% | -59.41% | 47.86% | -20% | -106.58% | 68.56% | 169.6% | 163.39% |
| Net Income (Continuing) | -7.05M | -6.48M | -10.33M | -5.38M | -6.46M | -13.35M | -4.2M | 2.92M | 7.69M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.48▲ 0% | -0.39▲ 18.7% | -0.50▼ 28.2% | -0.24▲ 52.0% | -0.21▲ 12.5% | -0.43▼ 104.8% | -0.13▲ 69.8% | 0.09▲ 169.2% | 0.36▲ 300.0% |
| EPS Growth % | -182.35% | 18.75% | -28.21% | 52% | 12.5% | -104.76% | 69.77% | 169.23% | 300% |
| EPS (Basic) | -0.48 | -0.39 | -0.50 | -0.24 | -0.21 | -0.43 | -0.13 | 0.09 | 0.40 |
| Diluted Shares Outstanding | 14.77M | 16.64M | 20.51M | 22.45M | 31.15M | 32.98M | 33.16M | 34.77M | 21.21M |
| Basic Shares Outstanding | 14.77M | 16.64M | 20.51M | 22.45M | 31.15M | 32.98M | 33.16M | 33.97M | 19.08M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
BrainsWay Ltd. (BWAY) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 17.89M | 13.48M | 28.83M | 24.3M | 65.45M | 58.09M | 55.47M | 79.67M | 84.89M |
| Cash & Short-Term Investments | 14.51M | 8.97M | 21.89M | 17.18M | 57.35M | 47.58M | 45.98M | 69.34M | 67.95M |
| Cash Only | 14.51M | 8.97M | 21.67M | 16.96M | 16.92M | 47.58M | 10.52M | 69.34M | 67.95M |
| Short-Term Investments | 0 | 0 | 221K | 221K | 40.43M | 0 | 35.47M | 0 | 0 |
| Accounts Receivable | 2.93M | 3.97M | 5.96M | 5.79M | 6.33M | 4.84M | 3.78M | 4.6M | 4.11M |
| Days Sales Outstanding | 95.83 | 88.46 | 94.11 | 95.81 | 77.93 | 65.06 | 43.41 | 40.9 | 28.51 |
| Inventory | 271K | 91K | 306K | 442K | 200K | 3.84M | 3.72M | 4.43M | 7.13M |
| Days Inventory Outstanding | 38.12 | 9.25 | 21.78 | 31.9 | 11.06 | 196.45 | 163.3 | 154.81 | 201.21 |
| Other Current Assets | 507K | 1.07M | 0 | 212K | 388K | 1.83M | 691K | 1.3M | 5.69M |
| Total Non-Current Assets | 9.14M | 10.12M | 9.91M | 9.71M | 10.29M | 6.39M | 7.51M | 14.65M | 28.03M |
| Property, Plant & Equipment | 7.09M | 7.63M | 15.23M | 9.55M | 9.33M | 5.35M | 5.79M | 11.95M | 12.17M |
| Fixed Asset Turnover | 1.57x | 2.15x | 1.52x | 2.31x | 3.18x | 5.08x | 5.49x | 3.43x | 4.33x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 18K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14.34M |
| Other Non-Current Assets | 2.03M | 2.5M | -5.32M | 163K | 954K | 766K | 1.72M | 1.64M | 1.52M |
| Total Assets | 27.03M▲ 0% | 23.6M▼ 12.7% | 38.74M▲ 64.1% | 34.01M▼ 12.2% | 75.73M▲ 122.7% | 64.48M▼ 14.9% | 62.97M▼ 2.3% | 94.32M▲ 49.8% | 112.92M▲ 19.7% |
| Asset Turnover | 0.41x | 0.69x | 0.60x | 0.65x | 0.39x | 0.42x | 0.50x | 0.43x | 0.47x |
| Asset Growth % | 35.39% | -12.68% | 64.12% | -12.2% | 122.67% | -14.86% | -2.33% | 49.77% | 19.72% |
| Total Current Liabilities | 6.13M | 8.34M | 6.72M | 6.8M | 9.07M | 8.14M | 9.76M | 15.35M | 22.16M |
| Accounts Payable | 1.63M | 2.24M | 1.32M | 781K | 1.1M | 1.12M | 758K | 2.87M | 2.43M |
| Days Payables Outstanding | 229.41 | 228.11 | 93.94 | 56.36 | 60.95 | 57.14 | 33.3 | 100.32 | 68.48 |
| Short-Term Debt | 0 | 750K | 0 | 0 | 0 | 0 | 0 | 0 | 1.07M |
| Deferred Revenue (Current) | 2.45M | 1.33M | 1.3M | 1.54M | 2.19M | 1.48M | 0 | 5.73M | 10.55M |
| Other Current Liabilities | 2.88M | 2.12M | 1.93M | 1.68M | 2.12M | 2.92M | 4.07M | 2.72M | 8.11M |
| Current Ratio | 2.92x | 1.62x | 4.29x | 3.57x | 7.22x | 7.14x | 5.68x | 5.19x | 3.83x |
| Quick Ratio | 2.87x | 1.61x | 4.25x | 3.51x | 7.20x | 6.66x | 5.30x | 4.90x | 3.51x |
| Cash Conversion Cycle | -95.46 | -130.4 | 21.95 | 71.35 | 28.04 | 204.37 | 173.41 | 95.4 | 161.24 |
| Total Non-Current Liabilities | 8.18M | 8.31M | 7.8M | 7.58M | 9.34M | 10.94M | 11.63M | 16.66M | 12.5M |
| Long-Term Debt | 2.73M | 2.08M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 243K | 254K | 254K | 239K | 4.8M | 5.74M |
| Deferred Tax Liabilities | 112K | 140K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.34M | 6.09M | 5.45M | 5.56M | 5.93M | 6.02M | 6.08M | 2.43M | 0 |
| Total Liabilities | 14.31M | 16.65M | 14.52M | 14.38M | 18.41M | 19.08M | 21.39M | 32M | 34.67M |
| Total Debt | 2.73M | 2.83M | 414K | 672K | 754K | 488K | 471K | 5.62M | 6.82M |
| Net Debt | -11.78M | -6.13M | -21.26M | -16.29M | -16.17M | -47.09M | -10.05M | -63.72M | -61.13M |
| Debt / Equity | 0.21x | 0.41x | 0.02x | 0.03x | 0.01x | 0.01x | 0.01x | 0.09x | 0.09x |
| Debt / EBITDA | - | - | - | - | - | - | - | 1.78x | 1.15x |
| Net Debt / EBITDA | - | - | - | - | - | - | - | -20.15x | -10.35x |
| Interest Coverage | -49.34x | -12.95x | -16.75x | -45.56x | -35.45x | -186.51x | -16.64x | 1.03x | 1.96x |
| Total Equity | 12.72M▲ 0% | 6.95M▼ 45.4% | 24.22M▲ 248.4% | 19.63M▼ 18.9% | 57.33M▲ 192.0% | 45.4M▼ 20.8% | 41.58M▼ 8.4% | 62.31M▲ 49.9% | 73.22M▲ 17.5% |
| Equity Growth % | 23.66% | -45.35% | 248.39% | -18.93% | 191.97% | -20.81% | -8.41% | 49.86% | 17.5% |
| Book Value per Share | 0.86 | 0.42 | 1.18 | 0.87 | 1.84 | 1.38 | 1.25 | 1.79 | 3.45 |
| Total Shareholders' Equity | 12.72M | 6.95M | 24.22M | 19.63M | 57.33M | 45.4M | 41.58M | 62.31M | 73.22M |
| Common Stock | 171K | 171K | 233K | 233K | 363K | 364K | 367K | 413K | 429.99K |
| Retained Earnings | -55.1M | -61.58M | -71.91M | -77.29M | -83.76M | -97.11M | -101.3M | -98.38M | -90.75M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.27M | -2.19M | -2.19M | 1.56M | -2.19M | -2.19M | -2.19M | -2.19M | 1.32M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BrainsWay Ltd. (BWAY) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -3.47M | -3.77M | -7.24M | -1.44M | 884K | -9.76M | 1.28M | 10.3M | 18.16M |
| Operating CF Margin % | -31.11% | -23.01% | -31.36% | -6.51% | 2.98% | -35.91% | 4.04% | 25.11% | 34.5% |
| Operating CF Growth % | -44.34% | -8.83% | -92% | 80.18% | 161.56% | -1204.07% | 113.16% | 702.02% | 76.37% |
| Net Income | -7.05M | -6.48M | -10.33M | -5.38M | -6.46M | -13.35M | -4.2M | 2.92M | 7.69M |
| Depreciation & Amortization | 1.07M | 1.23M | 1.6M | 1.62M | 1.69M | 1.53M | 1.34M | 1.77M | 1.55M |
| Stock-Based Compensation | 1.03M | 710K | 1.26M | 799K | 1.89M | 1.47M | 381K | 1.42M | 0 |
| Deferred Taxes | 169K | 209K | 422K | 237K | 43K | 315K | 251K | 0 | 0 |
| Other Non-Cash Items | 230K | 763K | 1.95M | 1.12M | 2.66M | 1.72M | 1.88M | 1.8M | 1.27M |
| Working Capital Changes | 1.09M | -204K | -2.15M | 179K | 1.07M | -1.45M | 1.64M | 2.39M | 7.65M |
| Change in Receivables | -21K | -419K | -2.5M | -104K | -849K | 1.46M | 1.09M | -867K | 611.82K |
| Change in Inventory | 276K | -330K | 0 | 0 | -411K | -3.6M | -506K | -920K | -2M |
| Change in Payables | 310K | 859K | 175K | -552K | 289K | 0 | -327K | 2.12M | -480.78K |
| Cash from Investing | -2.45M | -1.14M | -2.45M | -2.46M | -42.22M | 42.17M | -37.41M | 30.31M | -17.63M |
| Capital Expenditures | -985K | -1.97M | -3.31M | -2.47M | -2.24M | 1.94M | -2.39M | -4.76M | -1.76M |
| CapEx % of Revenue | 8.84% | 12.03% | 14.33% | 11.2% | 7.55% | 7.12% | 7.51% | 11.62% | 3.35% |
| Acquisitions | 0 | 0 | 0 | 0 | 39.98M | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -2M | 1.01M | 0 | 0 | -39.98M | 0 | -35.02M | 35.08M | 0 |
| Cash from Financing | 11.11M | -265K | 22.47M | -1.03M | 41.52M | -1.55M | -1.03M | 18.26M | -2.23M |
| Debt Issued (Net) | 2.7M | 0 | -3.43M | -417K | -475K | -533K | -271K | -424K | 0 |
| Equity Issued (Net) | 1000K | 0 | 1000K | 0 | 1000K | -52K | 0 | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | -52K | 0 | 0 | 0 |
| Other Financing | -39K | -265K | -425K | -613K | -269K | -962K | -755K | 2.33M | -2.23M |
| Net Change in Cash | 5.33M▲ 0% | -5.54M▼ 203.9% | 12.71M▲ 329.3% | -4.71M▼ 137.1% | -40K▲ 99.2% | 30.66M▲ 76750.0% | -37.06M▼ 220.9% | 58.83M▲ 258.7% | -1.67M▼ 102.8% |
| Free Cash Flow | -4.45M▲ 0% | -5.75M▼ 29.0% | -10.55M▼ 83.7% | -3.91M▲ 63.0% | -1.35M▲ 65.3% | -9.76M▼ 620.8% | -1.1M▲ 88.7% | 6.5M▲ 689.7% | 16.4M▲ 152.2% |
| FCF Margin % | -39.95% | -35.04% | -45.69% | -17.71% | -4.57% | -35.91% | -3.47% | 15.86% | 31.16% |
| FCF Growth % | -58.43% | -29.04% | -83.73% | 62.99% | 65.34% | -620.83% | 88.7% | 689.66% | 152.18% |
| FCF per Share | -0.30 | -0.35 | -0.51 | -0.17 | -0.04 | -0.30 | -0.03 | 0.19 | 0.77 |
| FCF Conversion (FCF/Net Income) | 0.49x | 0.58x | 0.70x | 0.27x | -0.14x | 0.73x | -0.31x | 3.53x | 2.36x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 125K | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
BrainsWay Ltd. (BWAY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -20.68% | -61.32% | -65.87% | -66.26% | -24.56% | -16.79% | -25.99% | -9.65% | 5.62% | 11.35% |
| Return on Invested Capital (ROIC) | -86.45% | -346.49% | -436.85% | -336.62% | -114.88% | -16.85% | -48.21% | -24.93% | 6.93% | 61.2% |
| Gross Margin | 78.94% | 76.72% | 78.11% | 77.8% | 77.07% | 77.75% | 73.77% | 73.86% | 74.56% | 75.42% |
| Net Margin | -20.8% | -63.29% | -39.51% | -44.71% | -24.41% | -21.79% | -49.12% | -13.2% | 7.12% | 14.62% |
| Debt / Equity | 0.08x | 0.21x | 0.41x | 0.02x | 0.03x | 0.01x | 0.01x | 0.01x | 0.09x | 0.09x |
| Interest Coverage | -33.92x | -49.34x | -12.95x | -16.75x | -45.56x | -35.45x | -186.51x | -16.64x | 1.03x | 1.96x |
| FCF Conversion | 1.00x | 0.49x | 0.58x | 0.70x | 0.27x | -0.14x | 0.73x | -0.31x | 3.53x | 2.36x |
| Revenue Growth | 69.47% | -3.29% | 47.12% | 40.89% | -4.52% | 34.46% | -8.36% | 16.96% | 29.04% | 28.34% |
BrainsWay Ltd. (BWAY) stock FAQ — growth, dividends, profitability & financials explained
BrainsWay Ltd. (BWAY) reported $52.3M in revenue for fiscal year 2025. This represents a 14263% increase from $0.4M in 2012.
BrainsWay Ltd. (BWAY) grew revenue by 28.3% over the past year. This is strong growth.
Yes, BrainsWay Ltd. (BWAY) is profitable, generating $7.7M in net income for fiscal year 2025 (14.6% net margin).
BrainsWay Ltd. (BWAY) has a return on equity (ROE) of 11.4%. This is reasonable for most industries.
BrainsWay Ltd. (BWAY) generated $16.3M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
BrainsWay Ltd. (BWAY) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates