Saturday 17 October 2026 Export BWAY’s income statement to Excel — free account

Brainsway Ltd. Sponsored ADR

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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Market cap: $475.8M
P/E: 24.8×
Fwd P/E: 0.0×
Dividend yield: —
F-score: 6/9
Altman Z: 2.82
Beneish M: −2.45
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	1	2	—	—	—	—

Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 475.75

Revenue 60.70

Net Income 9.44

Free Cash Flow 5.79

Net Debt (63.42)

Current Ratio 3.59

Debt/Equity 0.00

P/E ratio 24.80

Fwd P/E 0.00

P/S ratio 3.64

P/B ratio 2.79

Past 5Y EPS Growth —

This Y EPS Growth 70.37%

Next Y EPS Growth 65.22%

Next Y revenue growth 32.43%

Next 5Y EPS Growth 44.22%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 46.52%

10-year low 10-year high

P/B against its own 10 years 55.35%

10-year low 10-year high

EV/Sales against its own 10 years 42.38%

10-year low 10-year high

EV/FCF against its own 10 years 90.05%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	46	70	69	63
Receivables	4	5	4	7
Inventory	4	4	7	7
Other	2	1	4	4
	55	80	84	81

	2023	2024	2025	Q'26
Payables	1	3	2	3
ST’ Debt	—	—	—	—
Other	1	1	2	2
	10	15	22	23

Compound Annual Growth %

	10y	5y	3y
Sales	—	18.81%	24.33%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	30.09%	17.24%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	16	17	—	—	—
’25	12	13	14	15	52
’24	9	10	11	11	41
’23	7	8	8	9	32
’22	8	8	5	6	27
’21	6	7	8	8	30
’20	4	5	6	7	22

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	1	6	—	—	—
’25	5	12	1	(1)	17
’24	3	1	2	3	10
’23	(4)	1	1	2	1
’22	(3)	(2)	(2)	(2)	(10)
’21	0	(2)	(1)	4	1
’20	(3)	1	(1)	2	(1)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	0	5	—	—	—
’25	4	11	1	(1)	15
’24	2	1	1	3	7
’23	(3)	(1)	1	2	(1)
’22	(2)	(2)	(2)	(2)	(8)
’21	(1)	(2)	(1)	2	(1)
’20	(4)	0	(2)	2	(4)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.12	0.14	—	—	—
’25	0.04	0.10	0.04	0.14	0.36
’24	0.01	0.02	0.02	0.04	0.17
’23	(0.07)	(0.05)	(0.01)	0.00	(0.13)
’22	(0.06)	(0.07)	(0.15)	(0.12)	(0.40)
’21	(0.05)	(0.06)	(0.05)	(0.04)	(0.21)
’20	(0.15)	(0.03)	(0.04)	(0.02)	(0.24)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	4.00	2.55	3.45	0.82	0.69	2.31	3.92	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	6.20	6.27	5.88	4.59	3.68	5.49	9.90
People
People	Employees	—	—	96	107	100	118	134	106	120	129
	Revenue/emp, $m	0.00	0.00	0.17	0.22	0.22	0.25	0.20	0.30	0.34	0.40
Income, $m
Income, $m	Revenue	11	11	16	23	22	30	27	32	41	52
	Gross margin, %	77.27	75.16	78.11	77.80	77.07	77.75	73.77	73.86	74.56	75.42
	EBT	(2)	(7)	(6)	(10)	(5)	(6)	(13)	(4)	3	8
	EBT margin, %	(21.69)	(64.53)	(38.24)	(42.88)	(23.34)	(21.64)	(47.96)	(12.41)	8.43	14.76
	Net income	(2)	0	(6)	(10)	(5)	(6)	(13)	(4)	3	8
	Depreciation	1	1	1	3	2	2	2	1	2	2
Per share, $
Per share, $	Revenue	1.52	1.41	0.99	1.13	0.98	0.95	0.82	0.96	2.41	2.75
	Earnings	(0.17)	(0.50)	(0.39)	(0.50)	(0.24)	(0.21)	(0.40)	(0.13)	0.17	0.40
	Cash flow	(0.33)	(0.46)	(0.23)	(0.35)	(0.06)	0.03	(0.30)	0.04	0.61	0.92
	Capex	0.00	0.00	(0.12)	(0.16)	(0.11)	(0.07)	0.06	(0.07)	(0.22)	(0.12)
	Free cash flow	(0.33)	(0.46)	(0.35)	(0.51)	(0.17)	(0.04)	(0.24)	(0.03)	0.38	0.80
	Book value	1.42	1.62	0.42	1.18	0.87	1.84	1.38	1.25	3.67	3.85
	Shares, m	7	8	17	21	22	31	33	33	17	19
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	55.53	26.42
	P/S	5.35	5.35	5.35	4.33	3.84	4.04	1.38	3.77	1.95	3.46
	P/B	17.80	17.80	17.80	4.13	4.31	2.09	0.83	2.88	1.29	2.47
	EV/Sales	5.08	5.08	5.08	3.51	3.19	2.21	(0.27)	2.40	0.33	2.19
	EV/FCF	(15.32)	(15.32)	(15.32)	(7.68)	(18.01)	(48.34)	0.94	(69.17)	2.06	7.54
Cash, $m
Cash, $m	Operating cash flow	(2)	(4)	(4)	(7)	(1)	1	(10)	1	10	17
	Capex	0	(1)	(2)	(3)	(2)	(2)	2	(2)	(4)	(2)
	Free cash flow	(2)	(4)	(6)	(11)	(4)	(1)	(8)	(1)	7	15
Balance, $m
Balance, $m	Working capital	9	12	5	22	17	56	50	46	64	61
	Total debt	—	3	3	0	1	1	0	—	—	—
	Net debt	(10)	(12)	(6)	(22)	(17)	(57)	(48)	(46)	(70)	(69)
	Shareholders’ equity	10	13	7	24	20	57	45	42	62	73
Returns, %
Returns, %	ROA	(10.19)	(73.09)	(29.71)	(33.14)	(14.80)	(11.78)	(19.04)	(6.59)	3.71	7.30
	ROIC	0.00	0.00	(446.40)	(227.85)	(123.09)	0.00	0.00	0.00	0.00	71.48
	ROE	(20.80)	(63.48)	(65.85)	(66.26)	(24.56)	(16.79)	(25.99)	(9.65)	5.62	11.18

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TCMD Tactile Systems Technology, Inc.	$527.6M	20.5×	22.7×	+8.61% (above 0%: growing)	+142.86% (above 0%: growing)	−86.53% (below 0%: shrinking)	76.25%	7.97%	Compare
SSII SS Innovations International, Inc.	$517.2M	— (loss-making)	— (loss-making)	+39.39% (above 0%: growing)	n/m	−16.62% (below 0%: shrinking)	50.94%	(16.29%)	Compare
DCTH Delcath Systems, Inc.	$513.9M	1,408×	— (loss-making)	+20.60% (above 0%: growing)	−12.50% (below 0%: shrinking)	−24.45% (below 0%: shrinking)	89.75%	8.22%	Compare
MASS 908 Devices Inc.	$491.5M	— (loss-making)	— (loss-making)	+23.31% (above 0%: growing)	n/m	+150.95% (above 0%: growing)	51.90%	(79.69%)	Compare
SGHT Sight Sciences, Inc.	$484.8M	— (loss-making)	— (loss-making)	+19.55% (above 0%: growing)	n/m	+26.71% (above 0%: growing)	91.39%	(16.62%)	Compare
BWAY Brainsway Ltd. Sponsored ADR	$475.8M	24.8×	— (loss-making)	+35.43% (above 0%: growing)	+40.00% (above 0%: growing)	−51.68% (below 0%: shrinking)	74.62%	13.98%
CERS Cerus Corporation	$455.5M	— (loss-making)	— (loss-making)	+5.28% (above 0%: growing)	n/m	−20.90% (below 0%: shrinking)	55.91%	(2.94%)	Compare
NPCE NeuroPace, Inc.	$438.7M	— (loss-making)	— (loss-making)	+17.05% (above 0%: growing)	n/m	−78.70% (below 0%: shrinking)	82.83%	(22.53%)	Compare
SENS Senseonics Holdings, Inc.	$435.2M	— (loss-making)	— (loss-making)	+117.82% (above 0%: growing)	n/m	−223.24% (below 0%: shrinking)	59.10%	(248.48%)	Compare
Median of peers	$488.1M	—	—	+20.07%	—	−22.67%	67.68%	(16.45%)

All 149 Medical Devices stocks →

Brainsway Ltd. Sponsored ADR (BWAY) key facts

Strength: Brainsway Ltd. Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $52.2 million, up 27.3% from fiscal 2024.
Brainsway Ltd. Sponsored ADR (BWAY) is a Medical Devices company in the Healthcare sector, traded in the US as an ADR.
As of October 16, 2026, BWAY traded at $11.41, a market capitalization of $475.8 million.
Return on equity was 11.2% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.82 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.