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Apyx Medical Corporation

APYX Healthcare Medical Devices

Apyx Medical Corporation’s revenue for fiscal 2025 (year ended December 2025) was $52.8 million, up 9.86% from fiscal 2024.

Revenue
+8.95%
EPS
+20.0%
Free cash flow
+53.2%
Total debt
+2.74%

Quarter to September 2026, against a year earlier

2.98 0.08 −2.61%
Market cap
$128.9M
P/E
0.0×
Fwd P/E
−9.8×
Dividend yield
—
F-score
4/9
Altman Z
1.10
Beneish M
−2.63
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 17.33%

Capital & Financial Ratios $m

Size
Market Cap 128.90
Revenue ttm 59.57
Net income ttm (8.26)
Free cash flow ttm (8.89)
Net debt Q 9.80
Valuation
P/E 0.00
Forward P/E (9.81) (negative: loss-making)
Price / sales 2.22
Forward P/S Powerpack
Price / FCF 0.00
Price / book 13.16 (above 6: high)
Financial health
Current ratio Q 4.95 (at or above 1.5: strong)
Debt / equity Q 3.54 (above 2: weak)
Interest coverage Q (0.40)
Growth
Revenue growth Q +8.95% (above 0%: growing)
Operating income growth Q +31.37% (above 0%: growing)
EPS, this year +14.22%
EPS, next year A +7.61%
Revenue, next year A +12.43% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +31.59% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.5×, against a ten-year median of 3.3×; over the ten years it ranged from 0.9× in 2024 to 17.0× in 2018.
P/S against its own 10 years 28.50%
10-year low 10-year high
P/B against its own 10 years 94.93%
10-year low 10-year high
EV/Sales against its own 10 years 35.67%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 44 32 32 26
Receivables 14 15 17 15
Inventory 10 8 9 12
Other — — — —
70 56 58 54
2023 2024 2025 Q'26
Payables 3 3 3 4
ST’ Debt — — — —
Other — — — —
13 11 12 11

Compound Annual Growth %

10y 5y 3y
Sales 6.00% 13.78% 5.89%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (4.46%) (25.32%) (26.79%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.06 Actual −0.07

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY24 −0.13 −0.12 Beat by 0.01
Q4 FY25 −0.06 −0.03 Beat by 0.03
Q1 FY26 −0.11 −0.05 Beat by 0.06
Q2 FY26 −0.06 −0.07 Miss by 0.01
Q3 FY26 −0.07 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.05) (0.07) (0.04) — —
’25 (0.10) (0.09) (0.05) (0.03) (0.27)
’24 (0.22) (0.19) (0.14) (0.12) (0.66)
’23 (0.10) (0.03) (0.13) (0.28) (0.54)
’22 (0.17) (0.16) (0.17) (0.17) (0.67)
’21 (0.14) (0.12) (0.12) (0.06) (0.44)
’20 (0.06) (0.14) (0.11) (0.04) (0.35)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 12 14 14 — —
’25 9 11 13 19 53
’24 10 12 11 14 48
’23 12 14 12 15 52
’22 12 10 9 13 45
’21 9 11 12 17 49
’20 5 4 7 11 28
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (3) (2) — —
’25 (1) (1) (4) (3) (8)
’24 (6) (4) (4) (3) (18)
’23 (2) (5) 4 (2) (5)
’22 (5) (6) (5) (5) (20)
’21 (2) (5) (4) 0 (10)
’20 (7) (5) (3) (1) (16)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (4) (2) — —
’25 (1) (1) (4) (3) (9)
’24 (6) (5) (5) (3) (19)
’23 (2) 2 4 (2) 1
’22 (5) (6) (6) (5) (21)
’21 (2) (5) (4) 0 (11)
’20 (7) (5) (3) (1) (17)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 9 10 17 28 28 49 45 52 48 53 60 +22.0% 59 66 76 +13.1%
Gross margin, % 58.01 67.99 65.20 67.63 63.17 69.26 65.45 64.49 61.04 62.53 63.45 +4.5 pt
EBT (11) (14) (15) (20) (19) (15) (23) (21) (23) (11) (8) (0.6%)
EBT margin, % (130.24) (135.22) (88.47) (70.25) (70.04) (30.55) (51.47) (40.65) (48.45) (20.50) (13.07) +109.7 pt
Net income (4) (5) 63 (20) (12) (15) (23) (19) (24) (11) (8) +12.2%
Per share, $
Per share, $ Revenue 0.32 0.33 0.50 0.83 0.81 1.41 1.29 1.51 1.35 1.29 1.35 +16.7%
Earnings (0.14) (0.16) 1.93 (0.58) (0.35) (0.44) (0.67) (0.54) (0.66) (0.27) (0.19) +7.6%
Cash flow (0.10) (0.12) (0.63) (0.54) (0.47) (0.30) (0.59) (0.15) (0.51) (0.19) (0.19) +7.3%
Capex (0.01) (0.02) (0.01) (0.04) (0.02) (0.02) (0.03) 0.19 (0.02) (0.03) (0.02) +11.2%
Free cash flow (0.11) (0.14) (0.64) (0.58) (0.49) (0.33) (0.62) 0.04 (0.53) (0.22) (0.20) +7.7%
Book value 0.96 0.70 2.63 2.09 1.87 1.57 1.09 0.78 0.40 0.36 0.23 (10.3%)
Shares, m 27 31 33 34 34 34 35 35 36 41 43 +4.6%
Valuation, ×
Valuation, × P/E 0.00 0.00 3.38 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.3
P/S 2.89 3.46 13.09 10.21 8.89 9.07 1.95 1.77 1.17 2.72 2.22 5.5
P/B 4.04 3.85 2.50 4.04 3.86 8.15 2.30 3.43 3.92 9.70 13.16 4.6
EV/Sales 2.56 3.13 8.40 8.16 7.40 8.44 1.73 1.74 1.40 2.95 2.53 4.6
EV/FCF (29.97) (17.73) (6.60) (11.65) (12.31) (36.66) (3.62) 61.22 (3.58) (17.10) (16.96) (7.8)
Cash, $m
Cash, $m Operating cash flow (3) (4) (21) (18) (16) (10) (20) (5) (18) (8) (8) +12.2%
Capex 0 (1) 0 (1) (1) (1) (1) 7 (1) (1) (1) +16.3%
Free cash flow (3) (4) (21) (20) (17) (11) (21) 1 (19) (9) (9) +12.6%
Balance, $m
Balance, $m Working capital 21 17 81 64 57 48 31 58 46 47 43 +9.2%
Net debt (12) (8) (78) (58) (42) (31) (10) (10) 2 3 10 n/m
Shareholders’ equity 26 22 87 71 64 54 38 27 14 15 10 (6.1%)
Returns, %
Returns, % ROA (11.87) (15.32) 98.84 (21.81) (14.98) (21.24) (38.48) (28.57) (32.57) (17.03) (14.17) (5.2) pt
ROIC (51.51) (62.17) (98.67) (101.36) (56.73) (38.99) (53.21) (65.34) (71.30) (22.44) (10.33) +29.1 pt
ROE (15.92) (20.98) 114.86 (24.88) (17.61) (25.74) (50.51) (57.83) (113.74) (76.88) (104.67) (61.0) pt
People
People Employees 217 211 222 266 266 272 276 252 220 205 — (0.6%)
Revenue/emp, $m 0.04 0.05 0.07 0.11 0.10 0.18 0.16 0.21 0.22 0.26 — +22.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Apyx Medical Corporation vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MXCT MaxCyte, Inc. $135.2M — (loss-making) — (loss-making) −14.53% (below 0%: shrinking) n/m +54.74% (above 0%: growing) 76.96% (140.72%) Compare
APYX Apyx Medical Corporation $128.9M — (loss-making) — (loss-making) +8.95% (above 0%: growing) n/m +53.17% (above 0%: growing) 64.16% (4.07%)
OWLT Owlet, Inc. $123.9M — (loss-making) — (loss-making) +29.94% (above 0%: growing) n/m +55.74% (above 0%: growing) 64.44% 5.14% Compare
LUNG Pulmonx Corporation $111.5M — (loss-making) — (loss-making) +6.20% (above 0%: growing) n/m +61.33% (above 0%: growing) 76.19% (32.80%) Compare
ZOMDF Zomedica Corp. $95.4M — (loss-making) — (loss-making) +22.29% (above 0%: growing) n/m +32.51% (above 0%: growing) 61.06% (34.60%) Compare
CATX Perspective Therapeutics, Inc. $90.0M — (loss-making) — (loss-making) −72.07% (below 0%: shrinking) n/m −66.09% (below 0%: shrinking) 100.00% (36,120.99%) Compare
NYXH Nyxoah SA $82.6M — (loss-making) — (loss-making) +486.62% (above 0%: growing) n/m +4.01% (above 0%: growing) 59.73% (268.25%) Compare
LUCD Lucid Diagnostics Inc. $79.3M — (loss-making) — (loss-making) +26.74% (above 0%: growing) n/m −7.04% (below 0%: shrinking) 1.97% (868.45%) Compare
OM Outset Medical, Inc. $77.0M — (loss-making) — (loss-making) +14.15% (above 0%: growing) n/m −61.85% (below 0%: shrinking) 40.69% (36.52%) Compare
Median of peers $92.7M — — +18.22% — +18.26% 62.75% (88.62%)

All 149 Medical Devices stocks →

Pay and ownership Proxy statement filed 26 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.23m 2.10m 150.00
2024 975.97k 509.22k 68.00
2023 1.26m 1.41m 112.00

Ownership

Directors and executive officers, together 15.90%
Nantahala Capital Management, LLC 8.20% of Common
William Weeks Vanderfelt 7.50% of Common
Archon Capital Management, LLC 6.60% of Common
Royce & Associates, LP 6.20% of Common
Charles D. Goodwin II 5.40% of Common
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Apyx Medical Corporation (APYX) Latest News

5 Nov

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14 May

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11 May

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8 May

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21 Apr

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6 Apr

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1 Apr

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stockrow.com/APYX · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com