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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. In the quarter to June 2026, revenue grew 28.3%, EPS fell 184.4%, free cash flow fell 335.3% and total debt rose 127.0%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.

45.89 1.10 +2.46%
Market cap
$1.7B
P/E
209×
Fwd P/E
85.0×
Dividend yield
—
F-score
6/9
Altman Z
2.88
Beneish M
−2.27
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

Total buys 9.10
Total sells 6.12
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — 6 —
Sell — — — — 8 2 8 13 1 3 12 —
Insider Ownership 56.51%

Capital & Financial Ratios $m

Market Cap 1,670.00
Revenue 453.18
Net Income 7.87
Free Cash Flow (6.78)
Net Debt (73.44)
Current Ratio 2.12 (at or above 1.5: strong)
Debt/Equity 1.47
P/E ratio 208.59 (above 35: high)
Fwd P/E 85.00 (above 35: high)
P/S ratio 3.80
P/B ratio 7.03 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth (54.21%) (below 0%: weak)
Next Y EPS Growth 171.51% (at or above 15%: strong)
Next Y revenue growth 29.66% (at or above 10%: strong)
Next 5Y EPS Growth 28.43% (at or above 15%: strong)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.6×, against a ten-year median of 3.8×; over the ten years it ranged from 2.6× in 2023 to 7.1× in 2022.
P/S against its own 10 years 42.75%
10-year low 10-year high
P/B against its own 10 years 45.85%
10-year low 10-year high
EV/Sales against its own 10 years 46.86%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 90 153 413 434
Receivables 85 101 152 172
Inventory 21 20 29 30
Other 9 14 27 47
203 288 620 683
2023 2024 2025 Q'26
Payables 17 21 29 27
ST’ Debt 49 29 3 9
Other 110 132 186 233
204 219 274 322

Compound Annual Growth %

10y 5y 3y
Sales — 38.43% 32.15%
Cash Flow — 44.08% 0.00%
Earnings — 0.00% 0.00%
Book Value — 79.20% 30.21%

Revenue $m

Mar Jun Sep Dec Year
’26 107 123 — — —
’25 81 96 104 119 400
’24 64 78 83 89 314
’23 52 56 60 67 235
’22 34 41 47 51 174
’21 23 31 31 34 119
’20 18 14 22 25 79
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 4 (1) — — —
’25 1 13 10 16 40
’24 0 9 17 17 43
’23 1 (2) 5 5 9
’22 (3) (15) (6) (3) (28)
’21 4 (3) (1) (13) (13)
’20 0 1 2 4 6
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (13) — — —
’25 (6) 6 4 8 12
’24 (4) 3 10 9 18
’23 (3) (6) 1 1 (8)
’22 (6) (19) (10) (8) (43)
’21 1 (4) (3) (16) (22)
’20 (2) 0 0 1 (1)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.03 (0.27) — — —
’25 0.19 0.31 0.09 0.36 0.94
’24 (0.15) (0.08) 0.02 0.05 (0.16)
’23 (0.17) (0.12) (0.09) (0.10) (0.48)
’22 (0.30) (0.32) (0.30) (0.23) (1.14)
’21 (0.01) (0.02) (0.21) (0.59) (0.82)
’20 (0.01) (0.01) 0.00 (0.23) (0.24)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.5
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — — 18.09 16.38 18.75 29.50

Analyst estimates 2026–2028

Powerpack
High — — — — — — 37.07 25.38 30.99 52.46
People
People Employees — — — — — 550 700 870 1,130 1,200
Revenue/emp, $m — — 0.00 0.00 0.00 0.22 0.25 0.27 0.28 0.33
Income, $m
Income, $m Revenue — — 47 66 79 119 174 235 314 400
Gross margin, % — — 37.63 34.47 47.19 40.43 34.60 37.49 45.07 48.19
EBT — — (4) (6) (6) (24) (37) (15) (4) 35
EBT margin, % — — (7.55) (8.85) (7.74) (20.26) (21.36) (6.23) (1.40) 8.63
Net income — — (4) (5) (6) (25) (38) (16) (6) 36
Depreciation — — 3 5 6 7 9 13 21 25
Per share, $
Per share, $ Revenue — — 1.47 2.07 3.17 3.95 5.29 7.10 8.78 10.83
Earnings — — (0.11) (0.17) (0.24) (0.82) (1.14) (0.48) (0.16) 0.96
Cash flow — — (0.05) 0.13 0.26 (0.42) (0.84) 0.27 1.20 1.09
Capex — — 0.00 0.00 (0.32) (0.29) (0.46) (0.50) (0.70) (0.76)
Free cash flow — — (0.05) 0.13 (0.06) (0.71) (1.30) (0.23) 0.50 0.33
Book value — — 0.00 0.46 0.50 4.36 3.19 2.94 4.62 6.25
Shares, m — — 32 32 25 30 33 33 36 37
Valuation, ×
Valuation, × P/E — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 52.16
P/S — — 4.64 4.64 4.64 4.64 3.67 2.85 3.32 4.67
P/B — — 4.84 4.84 4.84 4.84 6.09 6.88 6.31 8.10
EV/Sales — — 3.96 3.96 3.96 3.96 3.44 2.70 3.00 4.49
EV/FCF — — (17.83) (17.83) (17.83) (17.83) (13.94) (81.79) 52.54 147.48
Cash, $m
Cash, $m Operating cash flow — — (2) 4 6 (13) (28) 9 43 40
Capex — — (4) (7) (8) (9) (15) (17) (25) (28)
Free cash flow — — (2) 4 (1) (22) (43) (8) 18 12
Balance, $m
Balance, $m Working capital — — — (5) (8) 86 40 0 68 346
Total debt — — — 20 34 18 27 53 52 334
Net debt — — — 9 7 (93) (41) (36) (101) (79)
Shareholders’ equity — — — 15 13 132 105 98 165 231
Returns, %
Returns, % ROA — — 0.00 0.00 (7.72) (16.04) (16.80) (5.73) (1.49) 5.53
ROIC — — — 0.00 (6.99) (35.97) (33.31) (12.66) 3.01 15.39
ROE — — 0.00 0.00 (46.10) (34.35) (31.75) (15.71) (4.28) 17.93
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
AI C3.ai, Inc. $2.0B — (loss-making) — (loss-making) −25.46% (below 0%: shrinking) n/m +106.02% (above 0%: growing) 31.83% (187.62%) Compare
FORG ForgeRock, Inc. $2.0B — (loss-making) — (loss-making) +22.25% (above 0%: growing) n/m +28.02% (above 0%: growing) 77.49% (51.61%) Compare
EVTC Evertec, Inc. $1.9B 20.3× 10.0× +19.69% (above 0%: growing) −85.71% (below 0%: shrinking) +20.64% (above 0%: growing) 54.79% 19.39% Compare
ATEN A10 Networks, Inc. $1.8B 40.8× 41.0× +15.50% (above 0%: growing) −20.00% (below 0%: shrinking) +53.34% (above 0%: growing) 79.09% 11.26% Compare
NN NextNav Inc. $1.8B — (loss-making) — (loss-making) −4.33% (below 0%: shrinking) n/m −33.14% (below 0%: shrinking) (78.70%) (1,760.78%) Compare
NYAX Nayax Ltd. $1.7B 209× 85.0× +28.25% (above 0%: growing) n/m −335.31% (below 0%: shrinking) 46.86% (5.42%)
PRGS Progress Software Corporation $1.7B 18.6× 18.0× −1.52% (below 0%: shrinking) +23.27% (above 0%: growing) +19.24% (above 0%: growing) 82.74% 18.92% Compare
BAND Bandwidth Inc. $1.6B 722× 157× +22.16% (above 0%: growing) n/m −7.38% (below 0%: shrinking) 35.72% (2.07%) Compare
PGY Pagaya Technologies Ltd. $1.5B 11.5× 10.5× +18.58% (above 0%: growing) +165.00% (above 0%: growing) +33.06% (above 0%: growing) 43.49% 27.34% Compare
Median of peers $1.8B 20.3× 18.0× +17.04% +1.63% +24.33% 49.14% 4.60%

All 173 Software Infrastructure stocks →

Nayax Ltd. (NYAX) key facts

  • Strength: Nayax Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $400.4 million, up 27.5% from fiscal 2024.
  • Nayax Ltd. (NYAX) is a Software Infrastructure company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, NYAX traded at $45.89, a market capitalization of $1.7 billion.
  • Return on equity was 17.9% and debt-to-equity 1.47.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.88 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Nayax Ltd. (NYAX) Latest News

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stockrow.com/NYAX · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com