Saturday 17 October 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. In the quarter to June 2026, revenue grew 35.4%, EPS grew 40.0% and free cash flow fell 51.7%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three.
11.41
0.41
−3.47%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
6 | 8 | 6 | 2 | 6 | 3 | — | — | — | — |
P/E ratio |
26.42 | 55.53 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
2.82 | 1.34 | 1.88 | (0.13) | 3.43 | 1.15 | 2.09 | — | — | — |
P/S ratio |
3.46 | 1.95 | 3.77 | 1.38 | 4.04 | 3.84 | 4.33 | 5.35 | 5.35 | 5.35 |
P/FCF ratio |
11.93 | 12.33 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
3.11 | 3.22 | 1.03 | 1.35 | 4.10 | (3.55) | (2.03) | (8.10) | — | (4.43) |
Beneish M-Score |
(2.45) | (1.75) | (2.77) | (2.92) | (1.99) | (3.43) | (2.44) | — | — | — |
P/Operating CF |
(139.98) | 22.94 | 48.38 | (16.76) | 33.57 | 51.61 | (81.36) | (101.71) | (101.71) | (101.71) |
P/B ratio |
2.47 | 1.29 | 2.88 | 0.83 | 2.09 | 4.31 | 4.13 | 17.80 | 17.80 | 17.80 |
Price to Tangible BV |
2.47 | 1.29 | 2.88 | 0.83 | 2.09 | 4.31 | 4.13 | 17.80 | 17.80 | 17.80 |
EV/Sales |
2.19 | 0.33 | 2.40 | (0.27) | 2.21 | 3.19 | 3.51 | 5.08 | 5.08 | 5.08 |
EV/EBITDA |
19.48 | 4.24 | 0.00 | 0.66 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
6.53 | 1.30 | 59.42 | 0.76 | 74.05 | (48.97) | (11.19) | (22.33) | (22.33) | (22.33) |
EV/FCF |
7.54 | 2.06 | (69.17) | 0.94 | (48.34) | (18.01) | (7.68) | (15.32) | (15.32) | (15.32) |
Quick Ratio |
3.27 | 4.84 | 5.13 | 6.47 | 7.02 | 3.35 | 4.29 | 1.62 | 2.91 | 2.98 |
Current Ratio |
3.73 | 5.19 | 5.68 | 7.14 | 7.22 | 3.57 | 4.29 | 1.62 | 2.92 | 2.98 |
Net Debt/EBITDA |
(11.84) | (22.02) | 12.77 | 4.29 | 17.31 | 5.35 | 3.85 | 1.60 | 1.90 | 5.16 |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 12.00% | 0.00% | 0.00% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.41 | 0.21 | 0.00 |
Asset Turnover |
0.50 | 0.52 | 0.50 | 0.39 | 0.54 | 0.61 | 0.74 | 0.75 | 1.11 | 0.47 |
Operating CF/Net income |
2.31 | 3.53 | (0.31) | 0.73 | (0.14) | 0.27 | 0.70 | 0.58 | 0.49 | 1.00 |
Capex/Depreciation |
(1.52) | (2.14) | (1.79) | 1.26 | (1.33) | (1.53) | (1.18) | (1.61) | 0.00 | 0.00 |
Interest Coverage |
1.96 | 0.92 | (4.28) | (8.64) | (3.52) | (73.89) | (47.04) | (121.22) | (90.85) | (69.68) |
| 11.18% | 5.62% | (9.65%) | (25.99%) | (16.79%) | (24.56%) | (66.26%) | (65.85%) | (63.48%) | (20.80%) | |
| 7.30% | 3.71% | (6.59%) | (19.04%) | (11.78%) | (14.80%) | (33.14%) | (29.71%) | (73.09%) | (10.19%) | |
ROIC |
71.48% | 0.00% | 0.00% | 0.00% | 0.00% | (123.09%) | (227.85%) | (446.40%) | 0.00% | 0.00% |
Return on Tangible Assets |
11.05% | 4.13% | (8.15%) | (24.14%) | (9.83%) | (19.91%) | (39.18%) | (80.24%) | (38.78%) | (15.39%) |
Average Days of Receivables |
28.73 | 40.90 | 43.41 | 65.06 | 77.93 | 92.37 | 109.56 | 98.15 | 109.15 | 110.85 |
Research and Development Expense of Revenue |
18.39% | 17.53% | 20.97% | 28.25% | 21.56% | 26.40% | 34.09% | 37.54% | 49.89% | 34.00% |
Selling, General and Administrative Expense of Revenue |
48.75% | 53.64% | 68.49% | 92.18% | 73.05% | 72.56% | 80.39% | 71.76% | 91.69% | 66.30% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
2.29% | 3.51% | 1.20% | 5.42% | 6.38% | 3.62% | 5.47% | 4.33% | 0.00% | 0.00% |
Graham Net Nets |
0.24 | 0.59 | 0.28 | 1.04 | 0.39 | 0.12 | 0.14 | (0.07) | (0.07) | (0.07) |
Graham Number |
5.58 | 2.65 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
3.79% | 1.80% | (3.51%) | (35.09%) | (5.19%) | (6.37%) | (10.32%) | (7.92%) | (7.92%) | (7.92%) |
Free Cash Flow Yield |
8.38% | 8.11% | (0.92%) | (20.81%) | (1.13%) | (4.61%) | (10.55%) | (6.20%) | (6.20%) | (6.20%) |
Revenue per Share |
2.75 | 2.41 | 0.96 | 0.82 | 0.95 | 0.98 | 1.13 | 0.99 | 1.41 | 1.52 |
Operating CF per Share |
0.92 | 0.61 | 0.04 | (0.30) | 0.03 | (0.06) | (0.35) | (0.23) | (0.46) | (0.33) |
Capex per Share |
(0.12) | (0.22) | (0.07) | 0.06 | (0.07) | (0.11) | (0.16) | (0.12) | 0.00 | 0.00 |
Free Cash Flow per Share |
0.80 | 0.38 | (0.03) | (0.24) | (0.04) | (0.17) | (0.51) | (0.35) | (0.46) | (0.33) |
Cash per Share |
3.65 | 4.10 | 1.40 | 1.45 | 1.84 | 0.77 | 1.07 | 0.55 | 1.86 | 1.35 |
Shareholders Equity per Share |
3.85 | 3.67 | 1.25 | 1.38 | 1.84 | 0.87 | 1.18 | 0.42 | 1.62 | 1.42 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
3.85 | 3.67 | 1.25 | 1.38 | 1.84 | 0.87 | 1.18 | 0.42 | 1.62 | 1.42 |
Free Cash Flow |
15.15 | 6.50 | (1.10) | (7.82) | (1.35) | (3.91) | (10.55) | (5.74) | (3.59) | (2.40) |
Working Capital |
61.33 | 64.32 | 45.70 | 49.95 | 56.38 | 17.50 | 22.11 | 5.14 | 11.76 | 8.73 |
Capital Expenditures |
(2.34) | (3.79) | (2.39) | 1.94 | (2.24) | (2.47) | (3.31) | (1.97) | (1.02) | (0.41) |
Net Current Asset Value |
43.80 | 47.67 | 34.07 | 39.01 | 47.04 | 9.92 | 14.31 | (3.17) | 8.61 | 8.36 |
EV/EBIT |
26.42 | 9.64 | 0.00 | 0.58 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.04 | 0.09 | 0.08 | (0.07) | 0.08 | 0.11 | 0.14 | 0.12 | 0.00 | 0.00 |
Price to Operating Income |
41.80 | 57.63 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.21 | 0.28 | 0.23 | 0.29 | 0.18 | 0.17 | 0.66 | 0.42 | 0.16 | 0.09 |
Cash ROIC |
10.63% | 4.93% | (1.26%) | (8.39%) | (1.18%) | (10.61%) | (22.89%) | (30.47%) | (11.97%) | (11.95%) |
Accounts Receivable Turnover |
12.00 | 9.79 | 7.37 | 4.86 | 4.98 | 3.52 | 4.07 | 4.25 | 3.32 | 3.32 |
Accounts Payable Turnover |
4.85 | 5.76 | 8.87 | 6.43 | 7.01 | 4.81 | 2.88 | 1.85 | 2.25 | 2.05 |
Inventory Turnover |
2.35 | 2.56 | 2.20 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
69.03 | 100.32 | 33.30 | 57.14 | 60.95 | 56.36 | 93.94 | 228.11 | 216.82 | 118.05 |
Days of Inventory on Hand |
185.44 | 154.81 | 163.30 | 196.45 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
4.35 | 4.19 | 4.31 | 5.59 | 5.96 | 6.26 | 5.67 | 3.86 | 3.33 | 3.33 |
Average Payables |
2.65 | 1.81 | 0.94 | 1.11 | 0.94 | 1.05 | 1.78 | 1.94 | 1.22 | 1.22 |
Average Inventory |
5.47 | 4.07 | 3.78 | — | — | — | — | — | — | — |
Average Assets |
103.75 | 78.64 | 63.72 | 70.10 | 54.87 | 36.37 | 31.17 | 21.81 | 10.00 | 23.53 |
Average Common Equity |
67.74 | 51.95 | 43.49 | 51.36 | 38.48 | 21.93 | 15.59 | 9.84 | 11.52 | 11.52 |
Columns are period end dates