Nayax Ltd. (NYAX) 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.
Nayax Ltd. (NYAX) stock price & volume — 10-year historical chart
Nayax Ltd. (NYAX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Nayax Ltd. (NYAX) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 9, 2026 | $0.36vs $0.24+50.0% | $120Mvs $120M-0.7% |
| Q4 2025 | Nov 19, 2025 | $0.09vs $0.21-57.1% | $106Mvs $120M-11.9% |
| Q3 2025 | Aug 13, 2025 | $0.16vs $0.10+60.0% | $96Mvs $110M-12.8% |
| Q2 2025 | May 13, 2025 | $0.03vs $0.04-25.0% | $81Mvs $100M-18.7% |
Nayax Ltd. (NYAX) competitors in Payments Processing and Fintech Services — business model, growth, and fundamentals comparison
Nayax Ltd. (NYAX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Nayax Ltd. (NYAX) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Sales/Revenue | 63.63M | 78.78M | 119.13M | 173.51M | 235.49M | 314.01M | 433.46M |
| Revenue Growth % | - | 23.82% | 51.22% | 45.65% | 35.72% | 33.34% | 38.04% |
| Cost of Goods Sold | 37.07M | 41.6M | 70.97M | 113.48M | 147.2M | 172.48M | 239.92M |
| COGS % of Revenue | 58.27% | 52.81% | 59.57% | 65.4% | 62.51% | 54.93% | 55.35% |
| Gross Profit | 26.55M▲ 0% | 37.18M▲ 40.0% | 48.16M▲ 29.5% | 60.04M▲ 24.7% | 88.29M▲ 47.1% | 141.53M▲ 60.3% | 193.54M▲ 36.7% |
| Gross Margin % | 41.73% | 47.19% | 40.43% | 34.6% | 37.49% | 45.07% | 44.65% |
| Gross Profit Growth % | - | 40.02% | 29.54% | 24.65% | 47.06% | 60.3% | 36.74% |
| Operating Expenses | 29.64M | 39.4M | 70.65M | 94.08M | 100.68M | 138.43M | 163.74M |
| OpEx % of Revenue | 46.59% | 50.02% | 59.3% | 54.22% | 42.75% | 44.08% | 37.78% |
| Selling, General & Admin | 16.36M | 21.79M | 37.95M | 64.09M | 70.32M | 78.03M | 131.31M |
| SG&A % of Revenue | 25.71% | 27.65% | 31.86% | 36.94% | 29.86% | 24.85% | 30.29% |
| Research & Development | 7.33M | 9.3M | 19.04M | 22.13M | 28.36M | 25.37M | 32.43M |
| R&D % of Revenue | 11.51% | 11.8% | 15.98% | 12.76% | 12.04% | 8.08% | 7.48% |
| Other Operating Expenses | 5.96M | 8.32M | 13.65M | 7.85M | 2M | 35.02M | 0 |
| Operating Income | -3.09M▲ 0% | -2.22M▲ 28.0% | -22.48M▼ 910.9% | -34.04M▼ 51.4% | -12.38M▲ 63.6% | 3.1M▲ 125.1% | 29.8M▲ 859.7% |
| Operating Margin % | -4.85% | -2.82% | -18.87% | -19.62% | -5.26% | 0.99% | 6.87% |
| Operating Income Growth % | - | 28% | -910.88% | -51.4% | 63.62% | 125.07% | 859.72% |
| EBITDA | 1.73M | 3.68M | -15M | -30.45M | 317.52K | 24.48M | 57.39M |
| EBITDA Margin % | 2.72% | 4.68% | -12.59% | -17.55% | 0.13% | 7.79% | 13.24% |
| EBITDA Growth % | - | 113.19% | -507.15% | -103% | 101.04% | 7608.05% | 134.48% |
| D&A (Non-Cash Add-back) | 4.82M | 5.91M | 7.48M | 3.59M | 12.7M | 21.37M | 27.59M |
| EBIT | -4.53M | -4.65M | -22.74M | -32.25M | -10.36M | 2.33M | 29.8M |
| Net Interest Income | -1.28M | -1.89M | -1.8M | -1.42M | -2.75M | -5.24M | -3.24M |
| Interest Income | 9.28K | 14.99K | 2.08K | 0 | 84.78K | 3.16M | 11.55M |
| Interest Expense | 1.29M | 1.9M | 1.8M | 1.42M | 2.83M | 8.39M | 14.79M |
| Other Income/Expense | -2.54M | -3.87M | -1.66M | -3.02M | -2.29M | -7.49M | 7.62M |
| Pretax Income | -5.63M▲ 0% | -6.1M▼ 8.2% | -24.14M▼ 295.8% | -37.06M▼ 53.5% | -14.67M▲ 60.4% | -4.38M▲ 70.1% | 37.42M▲ 953.5% |
| Pretax Margin % | -8.85% | -7.74% | -20.26% | -21.36% | -6.23% | -1.4% | 8.63% |
| Income Tax | -143K | -15K | 632K | 451K | 1.22M | 1.25M | -1.03M |
| Effective Tax Rate % | 2.54% | 0.25% | -2.62% | -1.22% | -8.28% | -28.44% | -2.75% |
| Net Income | -5.25M▲ 0% | -6.25M▼ 19.0% | -24.77M▼ 296.1% | -37.51M▼ 51.4% | -15.89M▲ 57.6% | -5.63M▲ 64.6% | 38.45M▲ 782.7% |
| Net Margin % | -8.26% | -7.94% | -20.79% | -21.62% | -6.75% | -1.79% | 8.87% |
| Net Income Growth % | - | -19.03% | -296.05% | -51.44% | 57.64% | 64.56% | 782.74% |
| Net Income (Continuing) | -5.49M | -6.08M | -24.77M | -37.51M | -15.89M | -5.63M | 38.45M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1.01M | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.16▲ 0% | -0.19▼ 18.8% | -0.82▼ 331.6% | -1.14▼ 39.0% | -0.48▲ 57.9% | -0.16▲ 66.7% | 1.02▲ 737.5% |
| EPS Growth % | - | -18.75% | -331.58% | -39.02% | 57.89% | 66.67% | 737.5% |
| EPS (Basic) | -0.17 | -0.19 | -0.82 | -1.14 | -0.48 | -0.16 | 1.04 |
| Diluted Shares Outstanding | 32.52M | 32.52M | 30.19M | 32.82M | 33.15M | 35.76M | 37.65M |
| Basic Shares Outstanding | 31.67M | 31.67M | 30.19M | 32.82M | 33.15M | 35.76M | 36.98M |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Nayax Ltd. (NYAX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Total Current Assets | 40.21M | 54.52M | 156.05M | 150.46M | 203.41M | 287.66M | 620.29M |
| Cash & Short-Term Investments | 4.41M | 8.28M | 87.38M | 33.96M | 39.66M | 92.46M | 412.76M |
| Cash Only | 4.41M | 8.2M | 87.33M | 33.88M | 38.39M | 83.13M | 411.59M |
| Short-Term Investments | 0 | 87K | 48K | 83K | 1.27M | 9.33M | 1.17M |
| Accounts Receivable | 24.63M | 13.84M | 19.34M | 27.41M | 83.86M | 100.77M | 151.87M |
| Days Sales Outstanding | 141.32 | 64.12 | 59.25 | 57.66 | 129.98 | 117.13 | 127.89 |
| Inventory | 4.52M | 5.04M | 7.69M | 23.81M | 20.56M | 19.77M | 28.6M |
| Days Inventory Outstanding | 44.49 | 44.23 | 39.55 | 76.58 | 50.99 | 41.83 | 43.51 |
| Other Current Assets | 6.24M | 27.09M | 41.64M | 65.28M | 58.63M | 74.67M | 27.06M |
| Total Non-Current Assets | 29.27M | 38.23M | 59.96M | 80.03M | 120.45M | 145.24M | 232.52M |
| Property, Plant & Equipment | 7.78M | 9.81M | 11.5M | 14.05M | 10.83M | 17.4M | 29.28M |
| Fixed Asset Turnover | 8.18x | 8.03x | 10.36x | 12.35x | 21.75x | 18.04x | 14.80x |
| Goodwill | 1.39M | 3.48M | 8.27M | 10.2M | 12.87M | 19.26M | 0 |
| Intangible Assets | 19.34M | 23.91M | 29.53M | 44.92M | 82.85M | 98.41M | 0 |
| Long-Term Investments | 625K | 798K | 9.36M | 7.92M | 7.33M | 5.91M | 211.04K |
| Other Non-Current Assets | 1K | 0 | 1.25M | 2.95M | 5.88M | 4.25M | 8.6M |
| Total Assets | 69.49M▲ 0% | 92.75M▲ 33.5% | 216.01M▲ 132.9% | 230.49M▲ 6.7% | 323.86M▲ 40.5% | 432.89M▲ 33.7% | 852.82M▲ 97.0% |
| Asset Turnover | 0.92x | 0.85x | 0.55x | 0.75x | 0.73x | 0.73x | 0.51x |
| Asset Growth % | - | 33.48% | 132.88% | 6.7% | 40.51% | 33.67% | 97% |
| Total Current Liabilities | 45.22M | 62.25M | 70.19M | 110.21M | 203.78M | 219.48M | 274.47M |
| Accounts Payable | 7.62M | 11M | 9.14M | 14.57M | 17.46M | 21.06M | 210.21M |
| Days Payables Outstanding | 75.01 | 96.49 | 46.99 | 46.88 | 43.3 | 44.56 | 319.8 |
| Short-Term Debt | 12.53M | 17.25M | 6.01M | 12.86M | 54M | 29.25M | 6.7M |
| Deferred Revenue (Current) | 23.55M | 62K | 42.83M | 793K | 0 | 0 | 0 |
| Other Current Liabilities | -2.45M | 4.2M | 10.72M | 79.77M | 130.17M | 1.35M | 57.57M |
| Current Ratio | 0.89x | 0.88x | 2.22x | 1.37x | 1.00x | 1.31x | 2.26x |
| Quick Ratio | 0.79x | 0.79x | 2.11x | 1.15x | 0.90x | 1.22x | 2.16x |
| Cash Conversion Cycle | 110.79 | 11.86 | 51.82 | 87.36 | 137.67 | 114.39 | -148.41 |
| Total Non-Current Liabilities | 8.6M | 18M | 14.14M | 15.65M | 22.49M | 48.17M | 347.28M |
| Long-Term Debt | 1.08M | 11.43M | 7.06M | 8.51M | 14.8M | 18.61M | 324.6M |
| Capital Lease Obligations | 4.71M | 5.15M | 5.39M | 5.94M | 4.15M | 4.08M | 6.4M |
| Deferred Tax Liabilities | 381K | 526K | 1.09M | 793K | 3.11M | 4.27M | 6.95M |
| Other Non-Current Liabilities | 1.16M | -454K | 602K | 403K | 427K | 21.21M | 9.33M |
| Total Liabilities | 53.82M | 80.25M | 84.33M | 125.85M | 226.27M | 267.65M | 621.75M |
| Total Debt | 19.52M | 35.16M | 19.96M | 29.52M | 75.1M | 54.9M | 337.7M |
| Net Debt | 15.1M | 26.96M | -67.37M | -4.36M | 36.71M | -28.23M | -73.89M |
| Debt / Equity | 1.25x | 2.81x | 0.15x | 0.28x | 0.77x | 0.33x | 1.46x |
| Debt / EBITDA | 11.29x | 9.54x | - | - | 236.51x | 2.24x | 5.88x |
| Net Debt / EBITDA | 8.74x | 7.32x | - | - | 115.62x | -1.15x | -1.29x |
| Interest Coverage | -2.39x | -1.17x | -12.48x | -23.93x | -4.38x | 0.37x | 2.01x |
| Total Equity | 15.67M▲ 0% | 12.5M▼ 20.2% | 131.68M▲ 953.3% | 104.64M▼ 20.5% | 97.59M▼ 6.7% | 165.25M▲ 69.3% | 231.06M▲ 39.8% |
| Equity Growth % | - | -20.22% | 953.32% | -20.54% | -6.73% | 69.33% | 39.83% |
| Book Value per Share | 0.48 | 0.38 | 4.36 | 3.19 | 2.94 | 4.62 | 6.14 |
| Total Shareholders' Equity | 14.65M | 12.5M | 131.68M | 104.64M | 97.59M | 165.25M | 231.06M |
| Common Stock | 7K | 7K | 8K | 8K | 8K | 9K | 9K |
| Retained Earnings | -11.03M | -13.43M | -28.7M | -56.55M | -65.58M | -63.31M | -19.64M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 8.98M | 9.24M | 10M | 9.77M | 9.64M | 7.83M | 7.88M |
| Minority Interest | 1.01M | 0 | 0 | 0 | 0 | 0 | 0 |
Nayax Ltd. (NYAX) cash flow — operating, investing & free cash flow history
| Line item | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|
| Cash from Operations | -1.44M | 6.49M | -12.81M | -27.55M | 8.8M | 42.9M | 76.56M |
| Operating CF Margin % | -2.26% | 8.24% | -10.75% | -15.88% | 3.74% | 13.66% | 17.66% |
| Operating CF Growth % | - | 552.13% | -297.38% | -115.11% | 131.94% | 387.63% | 78.44% |
| Net Income | -5.49M | -6.08M | -24.77M | -37.51M | -16.14M | -5.72M | 38.45M |
| Depreciation & Amortization | 4.82M | 5.91M | 7.2M | 9.03M | 12.51M | 21.37M | 27.59M |
| Stock-Based Compensation | 1.4M | 2.96M | 8.85M | 8.75M | 6.03M | 7.19M | 0 |
| Deferred Taxes | 77K | -119K | 895K | -181K | -298.62K | -1.38M | -5.84M |
| Other Non-Cash Items | 1.73M | 3.43M | 243K | 6.37M | 2.74M | 10.92M | -4.23M |
| Working Capital Changes | -3.97M | 389K | -5.22M | -14M | 3.96M | 10.52M | 20.59M |
| Change in Receivables | -248K | 1.11M | -5.14M | -8.27M | -30.84M | -12.49M | -37.37M |
| Change in Inventory | -466K | -511K | -2.63M | -12.59M | 3.29M | 2.07M | -5.38M |
| Change in Payables | -2.63M | 3.15M | -3.77M | 4.52M | 1.21M | 3.36M | 58.23M |
| Cash from Investing | -8.32M | -8.57M | -22.64M | -26.54M | -36.83M | -45.91M | -91.74M |
| Capital Expenditures | -6.69M | -7.86M | -2.64M | -15.22M | -620.6K | -3.08M | -30.41M |
| CapEx % of Revenue | 10.51% | 9.97% | 2.21% | 8.77% | 0.26% | 0.98% | 7.02% |
| Acquisitions | -137K | -1.27M | -13.37M | -4.06M | -18.33M | -15.17M | -43.18M |
| Investments | - | - | - | - | - | - | - |
| Other Investing | -1.5M | 550K | -6.19M | 76K | -18M | -19.42M | -10.2M |
| Cash from Financing | 4.18M | 6.05M | 114.14M | 6.21M | 31.55M | 50.84M | 295.57M |
| Debt Issued (Net) | -744K | 5.45M | -5.55M | 6.07M | 32.33M | -11.25M | 294.6M |
| Equity Issued (Net) | 0 | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -1.12M | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 4.92M | 1.72M | -12.87M | -965.92K | -2.99M | -593K | -4.38M |
| Net Change in Cash | -5.59M▲ 0% | 3.78M▲ 167.7% | 79.14M▲ 1991.9% | -53.45M▼ 167.5% | 4.51M▲ 108.4% | 44.74M▲ 893.0% | 268.16M▲ 499.3% |
| Free Cash Flow | -8.12M▲ 0% | -1.37M▲ 83.2% | -21.5M▼ 1471.8% | -42.77M▼ 98.9% | -7.76M▲ 81.9% | 17.93M▲ 331.0% | 70.79M▲ 294.8% |
| FCF Margin % | -12.77% | -1.74% | -18.05% | -24.65% | -3.3% | 5.71% | 16.33% |
| FCF Growth % | - | 83.16% | -1471.78% | -98.92% | 81.85% | 331% | 294.84% |
| FCF per Share | -0.25 | -0.04 | -0.71 | -1.30 | -0.23 | 0.50 | 1.88 |
| FCF Conversion (FCF/Net Income) | 0.27x | -1.04x | 0.52x | 0.73x | -0.55x | -7.62x | 1.99x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Nayax Ltd. (NYAX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -33.53% | -44.4% | -34.36% | -31.75% | -15.71% | -4.28% | 19.4% |
| Return on Invested Capital (ROIC) | -7.53% | -4.75% | -32.5% | -31.02% | -7.92% | 1.72% | 15.19% |
| Gross Margin | 41.73% | 47.19% | 40.43% | 34.6% | 37.49% | 45.07% | 44.65% |
| Net Margin | -8.26% | -7.94% | -20.79% | -21.62% | -6.75% | -1.79% | 8.87% |
| Debt / Equity | 1.25x | 2.81x | 0.15x | 0.28x | 0.77x | 0.33x | 1.46x |
| Interest Coverage | -2.39x | -1.17x | -12.48x | -23.93x | -4.38x | 0.37x | 2.01x |
| FCF Conversion | 0.27x | -1.04x | 0.52x | 0.73x | -0.55x | -7.62x | 1.99x |
| Revenue Growth | - | 23.82% | 51.22% | 45.65% | 35.72% | 33.34% | 38.04% |
Nayax Ltd. (NYAX) stock FAQ — growth, dividends, profitability & financials explained
Nayax Ltd. (NYAX) reported $404.4M in revenue for fiscal year 2025. This represents a 536% increase from $63.6M in 2019.
Nayax Ltd. (NYAX) grew revenue by 38.0% over the past year. This is strong growth.
Yes, Nayax Ltd. (NYAX) is profitable, generating $35.8M in net income for fiscal year 2025 (8.9% net margin).
Nayax Ltd. (NYAX) has a return on equity (ROE) of 19.4%. This is reasonable for most industries.
Nayax Ltd. (NYAX) generated $31.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
Nayax Ltd. (NYAX) 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