Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Brainsway Ltd. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Revenue
11.1
16.4
23.1
22.1
29.7
27.2
31.8
41
Cost of revenue
2.6
3.59
5.13
5.06
6.6
7.13
8.31
10.4
Gross profit
8.55
12.8
18
17
23.1
20
23.5
30.6
Research and development
5.34
6.16
7.88
5.82
6.39
7.68
6.67
7.19
Operating income
-6.61
-5.11
-8.48
-4.83
-5
-12.7
-4.96
1.39
Interest expense
0.27
1.16
1.43
0.32
-1.68
1.47
1.16
1.52
Interest income
0.26
1.12
2.17
3.58
Pre-tax income
-6.89
-6.27
-9.91
-5.15
-6.42
-13
-3.95
3.46
Income tax
0.17
0.21
0.42
0.24
0.04
0.32
0.25
0.54
Net income
-7.05
-6.48
-10.3
-5.39
-6.46
-13.3
-4.2
2.92
EPS, basic
-0.48
-0.39
-0.50
-0.24
-0.21
-0.40
-0.13
0.09
EPS, diluted
-0.48
-0.39
-0.50
-0.24
-0.21
-0.40
-0.13
0.05
Balance sheet
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Cash and equivalents
14.5
8.97
21.7
17
16.9
47.6
10.5
69.3
Inventory
3.84
3.72
4.43
Total current assets
13.5
28.8
24.3
65.4
58.1
55.5
79.7
Property, plant and equipment
2.94
4.25
4.35
Lease right-of-use assets
0.43
5.53
Total assets
23.6
38.7
34
75.7
64.5
63
94.3
Accounts payable
3.46
3.38
3.77
4.79
4.49
5.26
5.93
Short-term debt
0.75
Total current liabilities
8.34
6.72
6.8
9.07
8.14
9.76
15.3
Lease liabilities
0.66
0.24
0.25
0.25
0.24
4.8
Total liabilities
16.7
14.5
14.4
18.4
19.1
21.4
32
Paid-in capital
67.2
93.6
95.1
138
138
140
158
Retained earnings
-61.6
-71.9
-77.3
-83.8
-97.1
-101
-98.4
Total equity
12.7
6.95
24.2
19.6
57.3
45.4
41.6
62.3
Total liabilities and equity
23.6
38.7
34
75.7
64.5
63
94.3
Cash flow statement
FY2017
FY2019
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
Net income
-7.05
-6.48
-10.3
-5.39
-6.46
-13.3
-4.2
2.92
Cash from operations
-3.47
-3.77
-7.24
-1.44
0.88
-9.76
1.28
10.3
Capital expenditures
-0.99
-1.97
-3.31
-2.47
-2.24
Cash from investing
-2.45
-1.14
-2.45
-2.47
-42.2
42.2
-37.4
30.3
Debt issued
2.7
-3
Stock issued
8.45
26.3
42.3
-0.05
Cash from financing
11.1
-0.27
22.5
-1.03
41.5
-1.55
-1.03
18.3
Exchange rate effect
0.15
-0.37
-0.08
0.22
-0.22
-0.2
0.09
-0.05
Net change in cash
5.34
-5.54
12.7
-4.71
-0.04
30.7
-37.1
58.8
Free cash flow
-4.45
-5.75
-10.6
-3.91
-1.35
Interest paid
0.24
0.3
0.07
0.06
0.05
0.25
0.12
Income taxes paid
0.06
0.19
0.55
0.25
0.01
0.44
0.01
1.01
Key metrics
Worked out from the statements above. Latest values use fiscal 2024. Valuation uses the share price of $13.25 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
74.6%
Gross profit / revenue.
Operating margin
3.4%
Operating income / revenue.
Pre-tax margin
8.4%
Pre-tax income / revenue.
Net margin
7.1%
Net income / revenue.
Operating cash flow margin
25.1%
Cash from operations / revenue.
Effective tax rate
15.6%
Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)
3.7%
Net income / average total assets.
R&D / revenue
17.5%
Research and development expense / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
29.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
11.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
12.2%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
30.3%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
9.9%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
11.2%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
702.0%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
126.7%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
49.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
7.6%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
19.5%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
5.19x
Current assets / current liabilities.
Quick ratio
4.52x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
4.52x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
33.9%
Total liabilities / total assets.
Interest coverage
0.92x
Operating income / interest expense.
Working capital
$64.3M
Current assets - current liabilities.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.52x
Revenue / average total assets.
Inventory turnover
2.56x
Cost of revenue / average inventory.
Days inventory
142 days
365 x average inventory / cost of revenue.
Days payables
196 days
365 x average accounts payable / cost of revenue.
Per share
Metric
Value
How it is calculated
EPS, diluted
$0.05
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
$0.09
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$530.4M
Share price x shares outstanding.
Enterprise value
$461.1M
Market cap + total debt - cash - short-term investments.
P/E
182x
Market cap / net income. Only when net income is positive.
P/S
12.9x
Market cap / revenue.
P/OCF
51.5x
Market cap / cash from operations, when positive.
EV/Sales
11.2x
Enterprise value / revenue.
EV/EBIT
331x
Enterprise value / operating income, when both are positive.
Earnings yield
0.6%
Net income / market cap (the inverse of P/E).
What was Brainsway Ltd.'s revenue in fiscal 2024?
Brainsway Ltd. reported revenue of $41.0M for fiscal 2024, 29% higher than the year before.
Was Brainsway Ltd. profitable in fiscal 2024?
Yes. Net income was $2.9M, a net margin of 7.1%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.