Nayax Ltd. (NYAX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Mar 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NYAX SEC filings page.
Nayax Ltd. (NYAX) reported $400.4M in revenue for fiscal year 2025, up 27.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Nayax shifted from losses to cash-backed profitability, while financing-supported expansion made its balance sheet substantially larger.
Cash generation preceded accounting profitability: FY2024 produced$42.9M of operating cash flow despite a$5.6M net loss. In FY2025, operating cash flow of$40.3M and free cash flow of$35.0M remained close to reported earnings, indicating the turnaround was reflected in cash rather than existing only on the income statement.
FY2025 total assets reached
Net margin moved from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Nayax Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Nayax Ltd. has an operating margin of 9.4%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is up from 1.0% the prior year.
Nayax Ltd.'s revenue surged 27.5% year-over-year to $400.4M, reflecting rapid business expansion. This strong growth earns a score of 90/100.
Nayax Ltd. carries a low D/E ratio of 1.36, meaning only $1.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.26, Nayax Ltd. holds $2.26 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 65/100.
Nayax Ltd. has a free cash flow margin of 8.7%, earning a moderate score of 62/100. The company generates positive cash flow after capital investments, but with room for improvement.
Nayax Ltd.'s ROE of 15.4% shows moderate profitability relative to equity, earning a score of 32/100. This is up from -3.4% the prior year.
Nayax Ltd. scores 2.82, placing it in the grey zone between 1.81 and 2.99. The largest contribution to the score comes from a market capitalization of $1.8B against total liabilities of $621.6M. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Nayax Ltd. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, Nayax Ltd. generates $1.13 in operating cash flow ($40.3M OCF vs $35.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Nayax Ltd. earns $2.75 in operating income for every $1 of interest expense ($37.6M vs $13.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Nayax Ltd. generated $400.4M in revenue in fiscal year 2025. This represents an increase of 27.5% from the prior year.
Nayax Ltd.'s EBITDA was $63.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 157.6% from the prior year.
Nayax Ltd. reported $35.5M in net income in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Nayax Ltd. earned $0.94 per diluted share (EPS) in fiscal year 2025. The change from the prior year is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
Nayax Ltd. generated $35.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 12.2% from the prior year.
Nayax Ltd. held $319.5M in cash against $314.1M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Nayax Ltd.'s gross margin was 48.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.1 percentage points from the prior year.
Nayax Ltd.'s operating margin was 9.4% in fiscal year 2025, reflecting core business profitability. This is up 8.4 percentage points from the prior year.
Nayax Ltd.'s net profit margin was 8.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.7 percentage points from the prior year.
Nayax Ltd.'s ROE was 15.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 18.8 percentage points from the prior year.
Capital Allocation
Nayax Ltd. invested $30.0M in research and development in fiscal year 2025. This represents an increase of 18.1% from the prior year.
Nayax Ltd. invested $5.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 73.0% from the prior year.
Not reported for fiscal year 2025.
NYAX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Revenue | $400.4M+27.5% | $314.0M+33.3% | $235.5M+35.7% | $173.5M+45.6% | $119.1M+51.2% | $78.8M |
| Cost of Revenue | $207.5M+20.3% | $172.5M+17.2% | $147.2M+29.7% | $113.5M+59.9% | $71.0M+70.6% | $41.6M |
| Gross Profit | $193.0M+36.3% | $141.5M+60.3% | $88.3M+47.1% | $60.0M+24.7% | $48.2M+29.5% | $37.2M |
| R&D Expenses | $30.0M+18.1% | $25.4M+15.7% | $21.9M-0.9% | $22.1M+16.2% | $19.0M+104.7% | $9.3M |
| Operating Income | $37.6M+1109.7% | $3.1Mn/m | -$12.4Mn/m | -$34.0Mn/m | -$22.5Mn/m | -$2.2M |
| EBITDA | $63.0M+157.6% | $24.5M+20127.3% | $121Kn/m | -$25.0Mn/m | -$15.3M-514.9% | $3.7M |
| Interest Expense | $13.7M+25.4% | $10.9M+127.9% | $4.8M+38.3% | $3.5M+108.9% | $1.7M-57.3% | $3.9M |
| Income Tax | -$950K-176.2% | $1.2M+2.6% | $1.2M+169.4% | $451K-28.6% | $632Kn/m | -$15K |
| Net Income | $35.5Mn/m | -$5.6Mn/m | -$15.9Mn/m | -$37.5Mn/m | -$24.8Mn/m | -$6.1M |
| EPS (Basic) | $0.96n/m | -$0.16n/m | -$0.48 | -$1.14n/m | -$0.82n/m | -$0.25 |
| EPS (Diluted) | $0.94n/m | -$0.16n/m | -$0.48 | -$1.14n/m | -$0.82n/m | -$0.25 |
| Diluted Shares (Avg) | 38M+5.3% | 36M+7.9% | 33M | 4M+5.2% | 4M-28.9% | 5M |
Not reported in any period shown, so not listed: SG&A Expenses.
NYAX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Total Assets | $852.6M+97.0% | $432.9M+33.7% | $323.9M+40.5% | $230.5M+6.7% | $216.0M | N/A |
| Current Assets | $620.2M+115.6% | $287.7M+41.4% | $203.4M+35.2% | $150.5M-3.6% | $156.0M | N/A |
| Cash & Equivalents | $319.5M+284.4% | $83.1M+116.6% | $38.4M+13.3% | $33.9M-61.2% | $87.3M+965.7% | $8.2M |
| Inventory | $28.6M+44.6% | $19.8M-3.9% | $20.6M-13.6% | $23.8M+209.5% | $7.7M | N/A |
| Accounts Receivable | $104.0M+86.7% | $55.7M+34.9% | $41.3M+50.7% | $27.4M+41.8% | $19.3M | N/A |
| Goodwill | $190.5M+61.9% | $117.7M+22.1% | $96.4M+74.9% | $55.1M+45.8% | $37.8M+38.0% | $27.4M |
| Total Liabilities | $621.6M+132.3% | $267.6M+18.3% | $226.3M+79.8% | $125.9M+49.2% | $84.3M | N/A |
| Current Liabilities | $274.4M+25.0% | $219.5M+7.7% | $203.8M+84.9% | $110.2M+57.0% | $70.2M | N/A |
| Non-Current Liabilities | $347.2M+620.8% | $48.2M+114.2% | $22.5M+43.7% | $15.6M+10.6% | $14.1M | N/A |
| Long-Term Debt | $314.1Mn/m | $0-100.0% | $327K-77.4% | $1.4M-47.7% | $2.8M | N/A |
| Total Equity | $231.0M+39.8% | $165.2M+69.3% | $97.6M-6.7% | $104.6M-20.5% | $131.7M+953.3% | $12.5M |
| Retained Earnings | -$19.6Mn/m | -$63.3Mn/m | -$65.6Mn/m | -$56.5Mn/m | -$28.7M | N/A |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
NYAX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $40.3M-6.1% | $42.9M+387.6% | $8.8Mn/m | -$27.5Mn/m | -$12.8M-297.4% | $6.5M |
| Depreciation & Amortization | $25.5M+19.3% | $21.4M+70.9% | $12.5M+38.5% | $9.0M+25.4% | $7.2M+21.8% | $5.9M |
| Capital Expenditures | $5.3M+73.0% | $3.1M+404.3% | $611K-59.7% | $1.5M-42.4% | $2.6M+24.1% | $2.1M |
| Free Cash Flow | $35.0M-12.2% | $39.8M+386.4% | $8.2Mn/m | -$29.1Mn/m | -$15.4M-454.0% | $4.4M |
| Investing Cash Flow | -$78.7Mn/m | -$45.9Mn/m | -$36.8Mn/m | -$26.5Mn/m | -$22.6Mn/m | -$8.6M |
| Financing Cash Flow | $265.8M+422.8% | $50.8M+61.1% | $31.6M+408.4% | $6.2M-94.6% | $114.1M+1787.9% | $6.0M |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
NYAX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | FY2520-F | FY2420-F | FY2320-F | FY2220-F | FY2120-F | FY2020-F |
|---|---|---|---|---|---|---|
| Gross Margin | 48.2%+3.1pp | 45.1%+7.6pp | 37.5%+2.9pp | 34.6%-5.8pp | 40.4%-6.8pp | 47.2% |
| Operating Margin | 9.4%+8.4pp | 1.0%+6.3pp | -5.3%+14.4pp | -19.6%-0.8pp | -18.9%-16.1pp | -2.8% |
| Net Margin | 8.9%+10.7pp | -1.8%+5.0pp | -6.8%+14.9pp | -21.6%-0.8pp | -20.8%-13.1pp | -7.7% |
| Return on Equity | 15.4%+18.8pp | -3.4%+12.9pp | -16.3%+19.6pp | -35.9%-17.0pp | -18.8%+29.8pp | -48.7% |
| Return on Assets | 4.2%+5.5pp | -1.3%+3.6pp | -4.9%+11.4pp | -16.3%-4.8pp | -11.5% | N/A |
| Current Ratio | 2.26+0.9x | 1.31+0.3x | 1.00-0.4x | 1.37-0.9x | 2.22 | N/A |
| Debt-to-Equity | 1.36+1.4x | 0.000.0x | 0.000.0x | 0.010.0x | 0.02 | N/A |
| Liabilities-to-Equity | 2.69+1.1x | 1.62-0.7x | 2.32+1.1x | 1.20+0.6x | 0.64 | N/A |
| Asset Turnover | 0.47-0.3x | 0.730.0x | 0.730.0x | 0.75+0.2x | 0.55 | N/A |
| FCF Margin | 8.7%-3.9pp | 12.7%+9.2pp | 3.5%+20.2pp | -16.8%-3.8pp | -13.0%-18.5pp | 5.5% |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Nayax Ltd. NYAX | FY2025 | $400.4M | $35.5M | 8.9% | $1.8B | 63/100 |
| Rezolve AI PLC RZLV | FY2025 | $46.8M | -$101.4M | N/A | $612.8M | 33/100 |
| Progress Software Corp (DE) PRGS | FY2025 | $977.8M | $73.1M | 7.5% | $1.9B | 55/100 |
| Flywire Corporation FLYW | FY2025 | $623.0M | $13.5M | 2.2% | $2.4B | 56/100 |
| Netscout Systems Inc NTCT | FY2026 | $859.5M | $95.5M | 11.1% | $2.9B | 47/100 |
Where Nayax Ltd. Ranks
Frequently Asked Questions
What is Nayax Ltd.'s annual revenue?
Nayax Ltd. (NYAX) reported $400.4M in total revenue for fiscal year 2025. This represents a 27.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Nayax Ltd.'s revenue growing?
Nayax Ltd. (NYAX) revenue grew by 27.5% year-over-year, from $314.0M to $400.4M in fiscal year 2025.
Is Nayax Ltd. profitable?
Yes, Nayax Ltd. (NYAX) reported a net income of $35.5M in fiscal year 2025, with a net profit margin of 8.9%.
What is Nayax Ltd.'s EBITDA?
Nayax Ltd. (NYAX) had EBITDA of $63.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Nayax Ltd. have?
As of fiscal year 2025, Nayax Ltd. (NYAX) had $319.5M in cash and equivalents against $314.1M in long-term debt.
What is Nayax Ltd.'s gross margin?
Nayax Ltd. (NYAX) had a gross margin of 48.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Nayax Ltd.'s operating margin?
Nayax Ltd. (NYAX) had an operating margin of 9.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Nayax Ltd.'s net profit margin?
Nayax Ltd. (NYAX) had a net profit margin of 8.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Nayax Ltd.'s return on equity (ROE)?
Nayax Ltd. (NYAX) has a return on equity of 15.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Nayax Ltd.'s free cash flow?
Nayax Ltd. (NYAX) generated $35.0M in free cash flow during fiscal year 2025. This represents a -12.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Nayax Ltd.'s operating cash flow?
Nayax Ltd. (NYAX) generated $40.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Nayax Ltd.'s total assets?
Nayax Ltd. (NYAX) had $852.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Nayax Ltd.'s capital expenditures?
Nayax Ltd. (NYAX) invested $5.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Nayax Ltd. spend on research and development?
Nayax Ltd. (NYAX) invested $30.0M in research and development during fiscal year 2025.
What is Nayax Ltd.'s current ratio?
Nayax Ltd. (NYAX) had a current ratio of 2.26 as of fiscal year 2025, which is generally considered healthy.
What is Nayax Ltd.'s debt-to-equity ratio?
Nayax Ltd. (NYAX) had a debt-to-equity ratio of 1.36 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Nayax Ltd.'s liabilities-to-equity ratio?
Nayax Ltd. (NYAX) had a liabilities-to-equity ratio of 2.69 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Nayax Ltd.'s return on assets (ROA)?
Nayax Ltd. (NYAX) had a return on assets of 4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Nayax Ltd.'s P/E ratio?
Nayax Ltd. (NYAX) trades at 51.0x earnings, its market capitalization divided by $35.5M net income, FY2025. The market capitalization is $1.8B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Nayax Ltd.'s price-to-sales ratio?
Nayax Ltd. (NYAX) trades at 4.5x sales, its market capitalization divided by $400.4M revenue, FY2025. The market capitalization is $1.8B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Nayax Ltd.'s Altman Z-Score?
Nayax Ltd. (NYAX) has an Altman Z-Score of 2.82, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Nayax Ltd.'s Piotroski F-Score?
Nayax Ltd. (NYAX) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Nayax Ltd.'s earnings high quality?
Nayax Ltd. (NYAX) has an earnings quality ratio of 1.13x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Nayax Ltd. cover its interest payments?
Nayax Ltd. (NYAX) has an interest coverage ratio of 2.75x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Nayax Ltd.?
Nayax Ltd. (NYAX) scores 63 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.