NYAX Technology

Nayax Ltd.

$48.39-0.35%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Technology
Industry: Software - Infrastructure
Country: Israel
Market cap: 1.8B USD
Enterprise value: 1.7B USD
Full-time employees: 1,200

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: more debt relative to equity (1.38× vs a peer median of 0.25×)higher risk: more debt vs equity (1.38× vs peers 0.25×)

Ranks #813 of 1,612 technology companies (bottom 50%)

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Nayax made a profit per share in its latest year after a loss the year before.
Operating margin at a 6-year high. 9.4% in 2025, the best of the last 6 years.
Nayax kept 9.4% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Financials may be out of date. Latest financial period ended 10 months ago.
The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.
Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $79M in 2020 to $400M in 2025.
Nayax's fiscal-year revenue rose in each of the five years to 2025, from $79M to $400M.

StockQuotient Score

51/ 100

Oct 5 52 → Nov 4 51 (-1)

Valuation

Is the price right?

36/100

Weak

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield2.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value30% base weight · Z-score -0.13Sector median: 0.0225 · MAD: 0.0225

EBITDA yield2.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value50% base weight · Z-score -0.47Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield1.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.29Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield12.8%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

94/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 27.5%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ EPS growth
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 3.96Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth32.1%

SEC filings (IFRS mapped) · 3 years to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.42Sector median: 0.0483 · MAD: 0.0793

Revenue growth27.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.87Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

61/100

Moderate

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Turned profitable over the last 12 months
Operating margin rose 8.4 points to 9.4%

Why

Stronger than most peers on:

▲ ROIC
▲ Operating margin
▲ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin9.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.43Sector median: 0.0631 · MAD: 0.0710

Return on assets4.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.34Sector median: 0.0293 · MAD: 0.0362

Return on invested capital12.8%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 0.71Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin48.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity15.4%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

2/3 inputs reported · Partial data

Since last year: No major change

Why

Weaker than most peers on:

▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

BetaUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.8710 · MAD: 0.3700

Current ratio2.26×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.63Sector median: 1.8295 · MAD: 0.6848

Debt / equity1.38×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -5.00Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Nayax

Is Nayax getting weaker?: Its latest SEC filing (Mar 9, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 8.4 points to 9.4%. Its overall score is unchanged at 51/100 since Oct 28, 2026.
How is Nayax valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 36/100 against 1,711 technology peers. EBITDA yield 2.6% vs a peer median of 4.2% (weaker than 64% of peers).EBITDA yield 2.6% vs peers 4.2% (weaker than 64% of peers).
Is Nayax growing?: Yes, faster than most of its peers. Growth scores 94/100 against 1,711 technology peers. 3-year revenue growth 32.1% vs a peer median of 4.8% (stronger than 95% of peers).3-year revenue growth 32.1% vs peers 4.8% (stronger than 95% of peers).
How profitable is Nayax?: More profitable than most of its peers. Profitability scores 61/100 against 1,711 technology peers. Return on invested capital 12.8% vs a peer median of 6.8% (stronger than 67% of peers).Return on invested capital 12.8% vs peers 6.8% (stronger than 67% of peers).
How risky is Nayax?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.26× vs a peer median of 1.83× (stronger than 63% of peers).Current ratio 2.26× vs peers 1.83× (stronger than 63% of peers). Debt / equity 1.38× vs a peer median of 0.25× (weaker than 89% of peers).Debt / equity 1.38× vs peers 0.25× (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Mar 9, 2026 · compared with the year ended Dec 31, 2024

Got stronger

Turned profitable over the last 12 months
Operating margin rose 8.4 points to 9.4%

	Previous year	Latest year	Change
Revenue (12 months)	314.0M USD	400.4M USD	+27.5%
Net income (12 months)	−5.6M USD	35.5M USD	turned positive
Operating margin	1.0%	9.4%	+8.4 pts
Free cash flow (12 months)	39.8M USD	35.0M USD	−12.2%
Cash	83.1M USD	319.5M USD	+284.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	40.4%	34.6%	37.5%	45.1%	48.2%	▲ 3.1 pts
Operating margin	-18.9%	-19.6%	-5.3%	1.0%	9.4%	▲ 8.4 pts
Net margin	-20.8%	-21.6%	-6.7%	-1.8%	8.9%	▲ 11 pts
Return on assets (ROA)	-11.5%	-16.3%	-4.9%	-1.3%	4.2%	▲ 5.5 pts
Return on equity (ROE)	-18.8%	-35.8%	-16.3%	-3.4%	15.4%	▲ 19 pts
Free cash flow margin	-13.0%	-16.8%	3.5%	12.7%	8.7%	▼ 4.0 pts
Current ratio	2.22×	1.37×	1.00×	1.31×	2.26×	▲ 72%
Quick ratio	2.11×	1.15×	0.90×	1.22×	2.16×	▲ 77%
Debt to equity	0.03×	0.07×	0.49×	0.15×	1.38×	▲ 804%
Interest coverage	-13.58×	-9.84×	-2.59×	0.28×	2.75×	▲ 865%

NYAX price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: more debt relative to equity (1.38× vs a peer median of 0.25×)higher risk: more debt vs equity (1.38× vs peers 0.25×)

Ranks #813 of 1,612 technology companies (bottom 50%)

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Nayax made a profit per share in its latest year after a loss the year before.

Operating margin at a 6-year high. 9.4% in 2025, the best of the last 6 years.

Nayax kept 9.4% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Financials may be out of date. Latest financial period ended 10 months ago.

The latest financial period we have ended 10 months ago, so the scores may not reflect recent results.

Annual revenue rose 5 years in a row. Fiscal-year revenue rose from $79M in 2020 to $400M in 2025.

Nayax's fiscal-year revenue rose in each of the five years to 2025, from $79M to $400M.

Questions investors ask about Nayax

Is Nayax getting weaker?

Its latest SEC filing (Mar 9, 2026) got stronger: turned profitable over the last 12 months; operating margin rose 8.4 points to 9.4%. Its overall score is unchanged at 51/100 since Oct 28, 2026.

How is Nayax valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 36/100 against 1,711 technology peers. EBITDA yield 2.6% vs a peer median of 4.2% (weaker than 64% of peers).EBITDA yield 2.6% vs peers 4.2% (weaker than 64% of peers).

Is Nayax growing?

Yes, faster than most of its peers. Growth scores 94/100 against 1,711 technology peers. 3-year revenue growth 32.1% vs a peer median of 4.8% (stronger than 95% of peers).3-year revenue growth 32.1% vs peers 4.8% (stronger than 95% of peers).

How profitable is Nayax?

More profitable than most of its peers. Profitability scores 61/100 against 1,711 technology peers. Return on invested capital 12.8% vs a peer median of 6.8% (stronger than 67% of peers).Return on invested capital 12.8% vs peers 6.8% (stronger than 67% of peers).

How risky is Nayax?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.26× vs a peer median of 1.83× (stronger than 63% of peers).Current ratio 2.26× vs peers 1.83× (stronger than 63% of peers). Debt / equity 1.38× vs a peer median of 0.25× (weaker than 89% of peers).Debt / equity 1.38× vs peers 0.25× (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

314.0M USD

400.4M USD

+27.5%

Net income (12 months)

−5.6M USD

35.5M USD

turned positive

Operating margin

1.0%

9.4%

+8.4 pts

Free cash flow (12 months)

39.8M USD

35.0M USD

−12.2%

Cash

83.1M USD

319.5M USD

+284.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

40.4%

34.6%

37.5%

45.1%

48.2%

▲ 3.1 pts

Operating margin

-18.9%

-19.6%

-5.3%

1.0%

9.4%

▲ 8.4 pts

Net margin

-20.8%

-21.6%

-6.7%

-1.8%

8.9%

▲ 11 pts

Return on assets (ROA)

-11.5%

-16.3%

-4.9%

-1.3%

4.2%

▲ 5.5 pts

Return on equity (ROE)

-18.8%

-35.8%

-16.3%

-3.4%

15.4%

▲ 19 pts

Free cash flow margin

-13.0%

-16.8%

3.5%

12.7%

8.7%

▼ 4.0 pts

Current ratio

2.22×

1.37×

1.00×

1.31×

2.26×

▲ 72%

Quick ratio

2.11×

1.15×

0.90×

1.22×

2.16×

▲ 77%

Debt to equity

0.03×

0.07×

0.49×

0.15×

1.38×

▲ 804%

Interest coverage

-13.58×

-9.84×

-2.59×

0.28×

2.75×

▲ 865%