BrainsWay Ltd. (BWAY) Key Metrics
BWAY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $460.5M
- Enterprise value
- $497.9M
- P/E (TTM)
- 49.7
- Forward P/E
- 17.9
- PEG ratio
- —
- Price / sales
- 7.6 10-yr median 3.8
- Price / book
- 6.8 10-yr median 2.6
- EV / EBITDA
- 41.8
- Dividend yield
- —
- Beta
- 0.10
BWAY key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBWAY valuation Price multiples at each fiscal year-end price.
BWAY returns How much profit the business earns on the capital it uses.
BWAY per-share figures Results divided by the shares outstanding at year-end.
BWAY financial health Debt, liquidity and how easily interest is covered.
BWAY efficiency & capital use Working capital cycle and where the cash goes.
BWAY valuation history
BWAY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BWAY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BWAY cash returned to shareholders
BWAY price vs earnings per share
BWAY key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $201.7M | $163.9M | $107.4M | $40.7M | $119.9M | $84.6M | $50.0M | — | — | — |
| Enterprise value | $139.4M | $100.2M | $61.9M | −$6.4M | $63.3M | $68.1M | $29.2M | — | — | — |
| P/E ratio | 26.4 | 56.1 | — | — | — | — | — | — | — | — |
| Price / sales | 3.9 | 4.0 | 3.4 | 1.5 | 4.0 | 3.8 | 2.2 | — | — | — |
| Price / book | 2.8 | 2.6 | 2.6 | 0.9 | 2.1 | 4.3 | 2.1 | — | — | — |
| Price / free cash flow | 12.3 | 25.2 | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 11.1 | 15.9 | 83.7 | — | 135.7 | — | — | — | — | — |
| EV / sales | 2.7 | 2.4 | 1.9 | -0.2 | 2.1 | 3.1 | 1.3 | — | — | — |
| EV / EBITDA | 12.2 | 18.7 | — | — | — | — | — | — | — | — |
| EV / free cash flow | 8.5 | 15.4 | — | — | — | — | — | — | — | — |
| Earnings yield | 3.8% | 1.8% | −3.9% | −32.8% | −5.4% | −6.4% | −20.7% | — | — | — |
| Free cash flow yield | 8.1% | 4.0% | −1.0% | −24.0% | −1.1% | −4.6% | −21.1% | — | — | — |
| Shareholder yield (dividends + buybacks) | — | 0.0% | 0.0% | 0.1% | — | 0.0% | 0.0% | — | — | — |
| Share price at fiscal year-end | $9.51 | $4.71 | $3.24 | $1.24 | $3.85 | $3.77 | $4.88 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $2.46 | $1.18 | $0.96 | $0.82 | $0.95 | $0.98 | $2.25 | $0.99 | — | $0.79 |
| Earnings per share | $0.36 | $0.08 | −$0.13 | −$0.40 | −$0.21 | −$0.24 | −$1.01 | −$0.39 | — | −$0.17 |
| Operating cash flow per share | $0.86 | $0.30 | $0.04 | −$0.30 | $0.03 | −$0.06 | −$0.71 | −$0.23 | — | −$0.17 |
| Free cash flow per share | $0.77 | $0.19 | −$0.03 | −$0.30 | −$0.04 | −$0.17 | −$1.03 | −$0.35 | — | −$0.19 |
| Cash per share | $3.26 | $1.99 | $1.39 | $1.44 | $1.84 | $0.77 | $2.14 | $0.54 | — | $0.63 |
| Book value per share | $3.45 | $1.79 | $1.25 | $1.38 | $1.84 | $0.87 | $2.36 | $0.42 | — | $0.71 |
| Tangible book value per share | $3.45 | $1.79 | $1.25 | $1.38 | $1.84 | $0.87 | $2.36 | $0.42 | — | $0.71 |
| Dividends per share | — | — | — | — | — | — | — | $0.00 | — | $0.00 |
| Capex per share | $0.08 | $0.11 | $0.07 | $0.29 | $0.07 | $0.11 | $0.32 | $0.12 | — | $0.03 |
| Debt per share | $0.32 | $0.16 | $0.01 | $0.01 | $0.02 | $0.03 | $0.11 | $0.17 | — | $0.06 |
| Shares outstanding | 21.2M | 34.8M | 33.2M | 33.0M | 31.2M | 22.5M | 10.3M | 16.6M | — | 14.5M |
| Change in shares outstanding | −39.0% | +4.9% | +0.5% | +5.9% | +38.8% | +119.0% | −38.4% | — | — | +0.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.3% | 5.6% | −9.7% | −26.0% | −16.8% | −24.6% | −66.3% | −65.9% | −61.3% | −20.7% |
| Return on invested capital (ROIC) | 90.1% | — | — | — | −204.9% | −116.9% | −317.4% | −238.6% | −232.5% | −108.8% |
| Return on assets (ROA) | 7.4% | 3.7% | −6.6% | −19.0% | −11.8% | −14.8% | −33.1% | −25.6% | −30.0% | −11.4% |
| Return on tangible assets | 6.8% | 3.1% | −6.7% | −20.7% | −8.5% | −15.8% | −26.7% | −27.5% | −26.1% | −12.0% |
| Free cash flow margin | 31.4% | 15.9% | −3.5% | −35.9% | −4.6% | −17.7% | −45.7% | −35.0% | −39.9% | −24.4% |
| Income quality (OCF / net income) | 2.38 | 3.53 | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $6.8M | $5.6M | $471,000 | $488,000 | $754,000 | $672,000 | $1.1M | $2.8M | $4.4M | $810,000 |
| Cash & short-term investments | $69.1M | $69.3M | $46.0M | $47.6M | $57.3M | $17.2M | $21.9M | $9.0M | $14.5M | $9.2M |
| Net debt | −$62.3M | −$63.7M | −$45.5M | −$47.1M | −$56.6M | −$16.5M | −$20.8M | −$6.1M | −$10.2M | −$8.4M |
| Debt / equity | 0.09 | 0.09 | 0.01 | 0.01 | 0.01 | 0.03 | 0.04 | 0.41 | 0.34 | 0.08 |
| Debt / assets | 0.06 | 0.06 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.12 | 0.16 | 0.04 |
| Net debt / EBITDA | −5.44 | −11.89 | — | — | — | — | — | — | — | — |
| Current ratio | 3.83 | 5.19 | 5.68 | 7.14 | 7.22 | 3.57 | 4.29 | 1.62 | 2.92 | 2.98 |
| Quick ratio | 3.51 | 4.90 | 5.30 | 6.66 | 7.20 | 3.51 | 4.25 | 1.61 | 2.87 | 2.85 |
| Interest coverage | 1.9 | 1.0 | -16.6 | -186.5 | -35.5 | -15.1 | -16.8 | -12.9 | -49.3 | -33.9 |
| Working capital | $62.7M | $64.3M | $45.7M | $49.9M | $56.4M | $17.5M | $22.1M | $5.1M | $11.8M | $8.7M |
| Invested capital | $10.9M | −$1.4M | −$3.9M | −$1.7M | $730,000 | $3.1M | $3.4M | $817,000 | $2.6M | $1.9M |
| Tangible asset value | $73.2M | $62.3M | $41.6M | $45.4M | $57.3M | $19.6M | $24.2M | $7.0M | $12.7M | $10.3M |
| Net current asset value | $45.2M | $47.7M | $34.1M | $39.0M | $47.0M | $9.9M | $14.3M | −$3.2M | $3.6M | $3.4M |
| Graham number | $5.29 | $1.84 | — | — | — | — | — | — | — | — |
| Graham net-net per share | $1.70 | $1.24 | $0.88 | $1.03 | $1.41 | $0.33 | $1.17 | −$0.28 | — | $0.14 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Share buybacks (net) | — | $0 | $0 | $52,000 | — | $0 | $0 | $0 | $0 | $0 |
| Dividends + buybacks / free cash flow | — | 0.0% | — | — | — | — | — | — | — | — |
| Capex / revenue | 3.4% | 9.3% | 7.5% | 35.8% | 7.5% | 11.2% | 14.3% | 12.0% | 8.8% | 3.5% |
| Capex / operating cash flow | 9.7% | 36.8% | 185.9% | — | 253.2% | — | — | — | — | — |
| Capex / depreciation | 1.14 | 2.14 | 1.79 | 6.34 | 1.33 | 1.53 | 2.06 | 1.61 | 0.92 | 0.63 |
| Stock-based compensation / revenue | 2.3% | 3.5% | 1.2% | 5.4% | 6.4% | 3.6% | 5.5% | 4.3% | 9.2% | −3.6% |
| R&D / revenue | 18.4% | 17.5% | 21.0% | 28.3% | 21.6% | 26.4% | 34.1% | 37.5% | 47.9% | 32.9% |
| SG&A / revenue | 48.8% | 53.6% | 68.1% | 92.2% | 73.0% | 72.6% | 76.4% | 69.2% | 83.4% | 60.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 30.4 | 37.3 | 49.5 | 75.0 | 74.6 | 97.2 | 78.4 | 77.1 | 96.0 | 90.4 |
| Days of inventory on hand | 164.3 | 142.4 | 165.9 | 103.3 | 17.8 | 27.0 | 14.1 | 18.4 | 60.2 | 44.0 |
| Days payables outstanding | 75.3 | 63.4 | 41.2 | 56.8 | 52.1 | 75.8 | 126.8 | 197.0 | 171.7 | 131.9 |
| Cash conversion cycle (days) | 119.5 | 116.3 | 174.3 | 121.6 | 40.3 | 48.4 | -34.2 | -101.5 | -15.4 | 2.5 |
| Receivables turnover | 12.00 | 9.79 | 7.37 | 4.86 | 4.89 | 3.76 | 4.65 | 4.73 | 3.80 | 4.04 |
| Payables turnover | 4.85 | 5.76 | 8.87 | 6.43 | 7.01 | 4.81 | 2.88 | 1.85 | 2.13 | 2.77 |
| Inventory turnover | 2.22 | 2.56 | 2.20 | 3.53 | 20.56 | 13.52 | 25.84 | 19.83 | 6.06 | 8.30 |
| Asset turnover | 0.50 | 0.52 | 0.50 | 0.39 | 0.54 | 0.61 | 0.74 | 0.65 | 0.47 | 0.55 |
| Average receivables | $4.4M | $4.2M | $4.3M | $5.6M | $6.1M | $5.9M | $5.0M | $3.5M | $2.9M | $2.9M |
| Average payables | $2.6M | $1.8M | $937,000 | $1.1M | $941,500 | $1.1M | $1.8M | $1.9M | $1.2M | $877,000 |
| Average inventory | $5.8M | $4.1M | $3.8M | $2.0M | $321,000 | $374,000 | $198,500 | $181,000 | $428,000 | $292,500 |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
Computed from BWAY's annual financial statements (latest annual report filed April 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BWAY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), BrainsWay traded at 26.4 times earnings. Based on the latest twelve months, the trailing P/E is 49.7 and the forward P/E is 17.9. BrainsWay earned a return on equity of 11.3% and a return on invested capital of 90.1% in fiscal 2025. It ended the year with $6.8 million of debt and $69.1 million in cash and short-term investments, a net cash position of $62.3 million. The share count rose 46.2% from 14.5M to 21.2M over 9 years.
See the BWAY income statement, the BWAY chart for price history, or the BWAY stock overview for the latest quote and news.
BWAY key metrics FAQ
What is BrainsWay's P/E ratio?
BrainsWay's trailing P/E ratio is 49.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 17.9. At the end of fiscal 2025 it was 26.4.
What is BrainsWay's EV/EBITDA?
BrainsWay's enterprise value was 12.2 times EBITDA at the end of fiscal 2025 (enterprise value $139.4 million, EBITDA $11.5 million); the current EV/EBITDA is 41.8.
What is BrainsWay's return on equity?
BrainsWay's return on equity (ROE) was 11.3% in fiscal 2025: net income of $7.6 million on average shareholders' equity of $67.8 million.
What is BrainsWay's ROIC?
BrainsWay's return on invested capital was 90.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does BrainsWay have?
BrainsWay had total debt of $6.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.09 and more cash than debt.
What is BrainsWay's free cash flow yield?
BrainsWay generated $16.4 million of free cash flow in fiscal 2025, a free cash flow yield of 8.1% on its market value at year-end ($201.7 million).
What is BrainsWay's current ratio?
BrainsWay's current ratio was 3.83 at the end of fiscal 2025: current assets were 3.83 times current liabilities.