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Friday 6 November 2026
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Brainsway Ltd. Sponsored ADR
BWAY Healthcare Medical Devices
Brainsway Ltd. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $52.2 million, up 27.3% from fiscal 2024.
- Revenue
- +35.4%
- EPS
- +40.0%
- Free cash flow
- −51.7%
Quarter to June 2026, against a year earlier
11.08
0.47
+4.43%
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Analyst price targets
Free accountTen 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 Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 11 | 11 | 16 | 23 | 22 | 30 | 27 | 32 | 41 | 52 | 61 | +18.8% | 69 | 85 | 101 | +24.6% | |
| Gross margin, % | 77.27 | 75.16 | 78.11 | 77.80 | 77.07 | 77.75 | 73.77 | 73.86 | 74.56 | 75.42 | 75.32 | (1.9) pt | ||||||
| EBT | (2) | (7) | (6) | (10) | (5) | (6) | (13) | (4) | 3 | 8 | 10 | n/m | ||||||
| EBT margin, % | (21.69) | (64.53) | (38.24) | (42.88) | (23.34) | (21.64) | (47.96) | (12.41) | 8.43 | 14.76 | 15.94 | +36.5 pt | ||||||
| Net income | (2) | (7) | (6) | (10) | (5) | (6) | (13) | (4) | 3 | 8 | 9 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 1.52 | 1.50 | 1.97 | 2.25 | 1.96 | 1.90 | 1.65 | 1.92 | 2.41 | 2.75 | 3.14 | +6.8% | |||||
| Earnings | (0.34) | (0.96) | (0.78) | (1.01) | (0.48) | (0.42) | (0.80) | (0.26) | 0.17 | 0.40 | 0.50 | n/m | ||||||
| Cash flow | (0.33) | (0.49) | (0.45) | (0.71) | (0.13) | 0.06 | (0.59) | 0.08 | 0.61 | 0.92 | 0.39 | n/m | ||||||
| Capex | 0.00 | 0.00 | (0.24) | (0.32) | (0.22) | (0.14) | 0.12 | (0.14) | (0.22) | (0.12) | (0.09) | n/m | ||||||
| Free cash flow | (0.33) | (0.49) | (0.69) | (1.03) | (0.35) | (0.09) | (0.47) | (0.07) | 0.38 | 0.80 | 0.30 | n/m | ||||||
| Book value | 1.42 | 1.72 | 0.84 | 2.36 | 1.75 | 3.68 | 2.75 | 2.51 | 3.67 | 3.85 | 4.09 | +11.7% | ||||||
| Shares, m | 7 | 7 | 8 | 10 | 11 | 16 | 16 | 17 | 17 | 19 | 19 | +11.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 55.47 | 23.78 | 21.18 | 7.9 | |||||
| P/S | 5.35 | 5.35 | 5.35 | 4.33 | 3.84 | 4.04 | 1.38 | 3.77 | 3.90 | 3.46 | 3.38 | 4.1 | ||||||
| P/B | 17.78 | 17.78 | 17.78 | 4.13 | 4.31 | 2.09 | 0.82 | 2.88 | 2.57 | 2.47 | 2.59 | 7.3 | ||||||
| EV/Sales | 5.08 | 5.08 | 5.08 | 3.50 | 3.19 | 2.21 | (0.28) | 2.40 | 2.28 | 2.19 | 2.38 | 3.1 | ||||||
| EV/FCF | (15.31) | (15.31) | (15.31) | (7.67) | (18.01) | (48.34) | 0.97 | (69.17) | 14.36 | 7.54 | 24.96 | (16.6) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (2) | (4) | (4) | (7) | (1) | 1 | (10) | 1 | 10 | 17 | 8 | n/m | |||||
| Capex | 0 | (1) | (2) | (3) | (2) | (2) | 2 | (2) | (4) | (2) | (2) | +21.4% | ||||||
| Free cash flow | (2) | (4) | (6) | (11) | (4) | (1) | (8) | (1) | 7 | 15 | 6 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 9 | 12 | 5 | 22 | 17 | 56 | 50 | 46 | 64 | 61 | 59 | +24.2% | |||||
| Net debt | (10) | (12) | (6) | (22) | (17) | (57) | (48) | (46) | (70) | (69) | (63) | +24.3% | ||||||
| Shareholders’ equity | 10 | 13 | 7 | 24 | 20 | 57 | 45 | 42 | 62 | 73 | 79 | +24.3% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (10.19) | (70.51) | (29.71) | (33.14) | (14.80) | (11.78) | (19.04) | (6.59) | 3.71 | 7.30 | 8.09 | +17.5 pt | |||||
| ROIC | 0.00 | 0.00 | (446.40) | (227.85) | (123.09) | 0.00 | 0.00 | 0.00 | 0.00 | 71.48 | 29.98 | +71.5 pt | ||||||
| ROE | (20.80) | (61.24) | (65.85) | (66.26) | (24.56) | (16.79) | (25.99) | (9.65) | 5.62 | 11.18 | 12.82 | +32.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | 96 | 107 | 100 | 118 | 134 | 106 | 120 | 129 | — | +4.3% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.17 | 0.22 | 0.22 | 0.25 | 0.20 | 0.30 | 0.34 | 0.40 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Brainsway Ltd. Sponsored ADR 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 |
|---|---|---|---|---|---|---|---|---|---|
| NPCE NeuroPace, Inc. | $435.6M | — (loss-making) | — (loss-making) | −2.95% (below 0%: shrinking) | n/m | −78.70% (below 0%: shrinking) | 82.83% | (22.53%) | Compare |
| CERS Cerus Corporation | $430.2M | — (loss-making) | — (loss-making) | +6.28% (above 0%: growing) | n/m | +2,471.28% (above 0%: growing) | 57.12% | 0.60% | Compare |
| BWAY Brainsway Ltd. Sponsored ADR | $427.1M | 21.2× | — (loss-making) | +35.43% (above 0%: growing) | +40.00% (above 0%: growing) | −51.68% (below 0%: shrinking) | 74.62% | 13.98% | |
| SI Shoulder Innovations, Inc. | $424.1M | — (loss-making) | — (loss-making) | +37.73% (above 0%: growing) | n/m | +38.63% (above 0%: growing) | 78.47% | (46.92%) | Compare |
| SENS Senseonics Holdings, Inc. | $422.5M | — (loss-making) | — (loss-making) | +117.82% (above 0%: growing) | n/m | −223.24% (below 0%: shrinking) | 59.10% | (248.48%) | Compare |
| MASS 908 Devices Inc. | $419.5M | — (loss-making) | — (loss-making) | +23.31% (above 0%: growing) | n/m | +150.95% (above 0%: growing) | 51.90% | (79.69%) | Compare |
| RCEL Avita Medical Inc. | $389.5M | — (loss-making) | — (loss-making) | +53.05% (above 0%: growing) | n/m | +86.66% (above 0%: growing) | 84.02% | (17.95%) | Compare |
| SSII SS Innovations International, Inc. | $380.9M | — (loss-making) | — (loss-making) | +39.39% (above 0%: growing) | n/m | −16.62% (below 0%: shrinking) | 50.94% | (16.29%) | Compare |
| OFIX ORTHOFIX MEDICAL INC. | $363.3M | — (loss-making) | — (loss-making) | +3.85% (above 0%: growing) | n/m | −516.58% (below 0%: shrinking) | 70.97% | (3.86%) | Compare |
| Median of peers | $421.0M | — | — | +30.52% | — | +11.01% | 65.04% | (20.24%) |