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Friday 6 November 2026
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Nayax Ltd.
NYAX Technology Software Infrastructure
Nayax Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $400.4 million, up 27.5% from fiscal 2024.
- Revenue
- +28.3%
- EPS
- −184.4%
- Free cash flow
- −335.3%
- Total debt
- +127.0%
Quarter to June 2026, against a year earlier
47.02
2.52
−5.09%
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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 | — | — | 47 | 66 | 79 | 119 | 174 | 235 | 314 | 400 | 453 | +35.9% | 542 | 709 | 851 | +28.6% | |
| Gross margin, % | — | — | 37.63 | 34.47 | 47.19 | 40.43 | 34.60 | 37.49 | 45.07 | 48.19 | 47.80 | +10.6 pt | ||||||
| EBT | — | — | (4) | (6) | (6) | (24) | (37) | (15) | (4) | 35 | 7 | n/m | ||||||
| EBT margin, % | — | — | (7.55) | (8.85) | (7.74) | (20.26) | (21.36) | (6.23) | (1.40) | 8.63 | 1.65 | +16.2 pt | ||||||
| Net income | — | — | (4) | (5) | (6) | (25) | (38) | (16) | (6) | 36 | 8 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 1.47 | 2.07 | 3.17 | 3.95 | 5.29 | 7.10 | 8.78 | 10.83 | 12.06 | +33.0% | |||||
| Earnings | — | — | (0.11) | (0.17) | (0.24) | (0.82) | (1.14) | (0.48) | (0.16) | 0.96 | 0.22 | n/m | ||||||
| Cash flow | — | — | (0.05) | 0.13 | 0.26 | (0.42) | (0.84) | 0.27 | 1.20 | 1.09 | 0.76 | n/m | ||||||
| Capex | — | — | 0.00 | 0.00 | (0.32) | (0.29) | (0.46) | (0.50) | (0.70) | (0.76) | (0.94) | n/m | ||||||
| Free cash flow | — | — | (0.05) | 0.13 | (0.06) | (0.71) | (1.30) | (0.23) | 0.50 | 0.33 | (0.18) | n/m | ||||||
| Book value | — | — | 0.00 | 0.46 | 0.50 | 4.36 | 3.19 | 2.94 | 4.62 | 6.25 | 6.53 | n/m | ||||||
| Shares, m | — | — | 32 | 32 | 25 | 30 | 33 | 33 | 36 | 37 | 37 | +2.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 52.16 | 213.73 | 6.5 | |||||
| P/S | — | — | 0.46 | 0.46 | 0.46 | 0.46 | 3.67 | 2.85 | 3.32 | 4.67 | 3.90 | 2.0 | ||||||
| P/B | — | — | 0.48 | 0.48 | 0.48 | 0.48 | 6.09 | 6.88 | 6.31 | 8.10 | 7.20 | 3.7 | ||||||
| EV/Sales | — | — | (0.22) | (0.22) | (0.22) | (0.22) | 3.44 | 2.70 | 3.00 | 4.49 | 3.74 | 1.6 | ||||||
| EV/FCF | — | — | 0.98 | 0.98 | 0.98 | 0.98 | (13.94) | (81.79) | 52.54 | 147.48 | (249.61) | 13.5 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (2) | 4 | 6 | (13) | (28) | 9 | 43 | 40 | 28 | n/m | |||||
| Capex | — | — | (4) | (7) | (8) | (9) | (15) | (17) | (25) | (28) | (35) | +29.9% | ||||||
| Free cash flow | — | — | (2) | 4 | (1) | (22) | (43) | (8) | 18 | 12 | (7) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | (5) | (8) | 86 | 40 | 0 | 68 | 346 | 361 | n/m | |||||
| Net debt | — | — | — | 9 | 7 | (93) | (41) | (36) | (101) | (79) | (73) | n/m | ||||||
| Shareholders’ equity | — | — | — | 15 | 13 | 132 | 105 | 98 | 165 | 231 | 245 | +58.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | 0.00 | (7.72) | (16.04) | (16.80) | (5.73) | (1.49) | 5.53 | 1.01 | +5.5 pt | |||||
| ROIC | — | — | — | 0.00 | (6.99) | (35.97) | (33.31) | (12.66) | 3.01 | 15.39 | 6.41 | +15.4 pt | ||||||
| ROE | — | — | 0.00 | 0.00 | (46.10) | (34.35) | (31.75) | (15.71) | (4.28) | 17.93 | 3.52 | +17.9 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 550 | 700 | 870 | 1,130 | 1,200 | — | +21.5% | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 0.00 | 0.22 | 0.25 | 0.27 | 0.28 | 0.33 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Nayax Ltd. vs peers in Software Infrastructure (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 |
|---|---|---|---|---|---|---|---|---|---|
| GCT GigaCloud Technology Inc. | $2.3B | 13.5× | 12.7× | +27.33% (above 0%: growing) | +42.42% (above 0%: growing) | −27.55% (below 0%: shrinking) | 24.85% | 13.94% | Compare |
| EVTC Evertec, Inc. | $2.0B | 21.8× | 19.4× | +23.80% (above 0%: growing) | +3.80% (above 0%: growing) | +29.34% (above 0%: growing) | 53.70% | 17.89% | Compare |
| MQ Marqeta, Inc. | $1.9B | 14.6× | 66.4× | +7.88% (above 0%: growing) | n/m | −77.59% (below 0%: shrinking) | 69.30% | 3.56% | Compare |
| AI C3.ai, Inc. | $1.8B | — (loss-making) | — (loss-making) | −25.46% (below 0%: shrinking) | n/m | +106.02% (above 0%: growing) | 31.83% | (187.62%) | Compare |
| STNE StoneCo Ltd. | $1.8B | 3.0× | 3.0× | +14.89% (above 0%: growing) | −2.63% (below 0%: shrinking) | +2,108.82% (above 0%: growing) | 68.05% | 43.79% | Compare |
| PRGS Progress Software Corporation | $1.8B | 20.3× | 36.0× | −1.52% (below 0%: shrinking) | +22.22% (above 0%: growing) | +19.24% (above 0%: growing) | 82.74% | 18.92% | Compare |
| NYAX Nayax Ltd. | $1.7B | 214× | 179× | +28.25% (above 0%: growing) | n/m | −335.31% (below 0%: shrinking) | 46.86% | (5.42%) | |
| INFQ Infleqtion, Inc. | $1.7B | — (loss-making) | — | — | n/m | +914.79% (above 0%: growing) | 16.01% | (220.55%) | Compare |
| ATEN A10 Networks, Inc. | $1.6B | 37.8× | 39.0× | +15.50% (above 0%: growing) | −20.00% (below 0%: shrinking) | +53.34% (above 0%: growing) | 79.09% | 11.26% | Compare |
| Median of peers | $1.8B | 17.5× | 27.7× | +14.89% | +3.80% | +41.34% | 60.88% | 12.60% |