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Employees: 129
Size Brainsway Ltd Sponsored ADR (BWAY) is a United States Health Care company (Medical Specialties) with a market value of $450M, the 2773rd largest of 3,117 United States companies the cockpit tracks. Shares closed at $11.15 on 6 Nov 2026.
Performance Over six months the shares fell 35.1%, against -15.8% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 31.6% over the last twelve months (peer median +0.5%); the operating margin is 12.5% (peer median 2.3%).
Valuation It trades at 27.4× forward earnings against a peer median of 14.1× (2nd most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 34% a year for seven years (Req g). Recent delivered growth is +19%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 13.5 points above its cost of capital (11.6% WACC).
Short interest Short interest is 0.6% of the free float (15 Oct 2026).
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $61.1M | $52.6M | $41.2M | $31.7M | $27.1M |
| Revenue growth | — | +28% | +30% | +17% | — |
| Gross profit | $46.0M | $39.0M | $30.1M | $23.0M | $20.4M |
| EBITDA | $9.29M | $5.91M | $3.18M | -$3.58M | -$10.3M |
| Net income | $9.51M | $7.64M | $2.93M | -$4.19M | -$13.3M |
| Free cash flow | $6.96M | $15.3M | $6.53M | -$1.10M | n/a |
| Capital expenditure | $1.22M | $3.02M | $4.79M | $2.40M | $20,918 |
| Total debt | $7.13M | $6.82M | $5.62M | $471,003 | $488,006 |
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Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BWAY | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.8% | -8.0% | 6th highest of 21 |
| 6-month return | -35.1% | -15.8% | 4th lowest of 21 |
| Distance from 52-week high | -35.9% | -39.3% | 8th highest of 21 |
| Revenue growth (TTM) | +31.6% | +0.5% | 4th highest of 21 |
| Operating margin | 12.5% | 2.3% | 5th highest of 21 |
| Forward P/E | 27.4× | 14.1× | 2nd most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 34.3% | 17.0% | 3rd most demanding of 9 |
| Growth delivered (Del g) | +18.8% | +0.3% | highest of 9 |
| Hurdle (Req g minus delivered) | +15.4 pp | +13.3 pp | 5th least demanding of 9 |
| ROIC minus cost of capital | +13.5 pp | -4.6 pp | 2nd highest of 18 |
| EV / EBITDA | 42.5× | 9.2× | 2nd most expensive of 4 |
| Net debt / EBITDA | -5.9× | -0.0× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Brainsway Ltd Sponsored ADR BWAY | United States | $450M | -35% | +32% | 12% | 27.4× | 34.3% | +18.8% |
| PROTEINA 468530.KS | South Korea | $450M | -2% | -59% | -1,178% | n/a | n/a | n/a |
| Hunan Sundy Science and Technology 300515.SZ | China | $453M | -13% | +10% | 27% | 14.1× | 0.9% | +15.6% |
| Eiken Chemical 4549.T | Japan | $454M | -29% | +4% | 6% | 23.6× | n/a | n/a |
| Chison Medical Technologies 688358.SS | China | $443M | -16% | -1% | 19% | 21.6× | 11.8% | +5.6% |
| Guanhao Biotech 300238.SZ | China | $440M | -25% | -7% | 5% | n/a | n/a | n/a |
| Jenscare Scientific 9877.HK | Hong Kong | $463M | -32% | +993% | -106% | n/a | n/a | n/a |
| 908 Devices MASS | United States | $436M | +29% | +1% | -35% | n/a | n/a | n/a |
| Shanghai Titan Scientific 688133.SS | China | $432M | -22% | -5% | -5% | 9.0× | n/a | n/a |
| Jiangsu Huayang Intelligent Equipment 301502.SZ | China | $470M | +35% | -5% | 2% | n/a | 42.6% | +0.4% |
| Guangzhou Jet Bio-Filtration 688026.SS | China | $471M | +40% | +5% | 11% | 38.6× | 22.1% | +2.2% |
| NeuroPace NPCE | United States | $429M | -32% | +12% | -15% | n/a | n/a | n/a |
| Huaren Pharmaceutical 300110.SZ | China | $472M | -16% | -3% | 6% | n/a | 6.7% | +0.3% |
| Shoulder Innovations SI | United States | $428M | +56% | +61% | -59% | n/a | n/a | n/a |
| Guangdong Shirongzhaoye 002016.SZ | China | $473M | -28% | -31% | 3% | n/a | 22.2% | -11.7% |
| Shanghai Kindly Enterprises Development 603987.SS | China | $474M | -14% | 0% | 11% | n/a | 3.8% | -2.8% |
| Shofu 7979.T | Japan | $475M | +27% | +7% | 14% | 12.2× | n/a | n/a |
| SS Innovations International SSII | United States | $423M | -45% | +90% | -16% | n/a | n/a | n/a |
| YD Bio YDES | United States | $423M | -58% | +17% | -883% | n/a | n/a | n/a |
| China Isotope & Radiation 1763.HK | Hong Kong | $478M | -38% | -5% | 13% | 6.7× | n/a | n/a |
| Beijing Leadman Biochemistry 300289.SZ | China | $483M | -11% | -6% | -12% | n/a | 35.5% | -6.9% |