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Makes cashless payment devices and management software for vending machines, kiosks and other unattended retail.
Makes cashless payment devices and management software for vending machines, kiosks and other unattended retail.
Sells terminals once, then earns on each card payment that passes through them as the payment processor, so recurring processing and software fees now make up most revenue. Based in Israel, it also acts as the payment facilitator for small operators who would not qualify for a merchant account alone.
Moat: narrow (installed base, distribution, network effects). Large installed base of payment devices across unattended retail channels creates recurring transaction revenue.
Headquarters: Herzliya, Israel · Founded: 2005 · Employees: 1,200
Size Nayax (NYAX) is a United States Information Technology company (Packaged Software) with a market value of $1.78B, the 1872nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $47.66 on 6 Nov 2026.
Performance Over six months the shares fell 33.8%, against -26.9% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 28.1% over the last twelve months (peer median +13.2%); the operating margin is 4.6% (peer median 6.8%).
Valuation It trades at 59.1× forward earnings against a peer median of 33.4× (6th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 27% a year for seven years (Req g). Recent delivered growth is +39%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.0 points above its cost of capital (7.3% WACC).
Short interest Short interest is 0.4% of the free float (15 Oct 2026).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $482M | $433M | $319M | $239M | $166M |
| Revenue growth | — | +36% | +33% | +44% | — |
| Gross profit | $214M | $183M | $123M | $77.2M | $48.9M |
| EBITDA | $52.5M | $57.4M | $28.2M | $2.15M | -$20.5M |
| Net income | $9.67M | $38.4M | -$5.72M | -$16.1M | -$35.8M |
| Free cash flow | $66.7M | $70.8M | $49.6M | $23.3M | -$18.2M |
| Capital expenditure | $37.0M | $30.4M | $25.4M | $16.8M | $14.5M |
| Total debt | $359M | $343M | $56.3M | $60.4M | $26.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Nayax NYAX | $1.78B | -34% | +28% | 5% | 59.1× | 26.9% |
| PAX Global Technology 0327.HK | $444M | -21% | +10% | 16% | 4.0× | n/a |
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 | NYAX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.9% | +1.9% | 10th highest of 21 |
| 6-month return | -33.8% | -26.9% | 6th lowest of 20 |
| Distance from 52-week high | -38.0% | -45.0% | 9th highest of 21 |
| Revenue growth (TTM) | +28.1% | +13.2% | 4th highest of 21 |
| Operating margin | 4.6% | 6.8% | 10th lowest of 21 |
| Forward P/E | 59.1× | 33.4× | 6th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 26.9% | 17.8% | 5th most demanding of 13 |
| Growth delivered (Del g) | +38.7% | +16.3% | 3rd highest of 13 |
| Hurdle (Req g minus delivered) | -11.8 pp | +9.2 pp | 5th least demanding of 13 |
| ROIC minus cost of capital | +3.0 pp | +1.3 pp | 6th highest of 16 |
| EV / EBITDA | 32.5× | 8.0× | 2nd most expensive of 9 |
| Net debt / EBITDA | -1.4× | -0.8× | 5th least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nayax NYAX | United States | $1.78B | -34% | +28% | 5% | 59.1× | 26.9% | +38.7% |
| Progress Software PRGS | United States | $1.78B | +46% | +6% | 19% | 6.7× | 1.8% | +17.2% |
| Shadowfax Technologies SHADOWFAX.NS | India | $1.79B | +70% | +69% | 10% | 60.0× | 47.0% | +43.7% |
| Sinosoft 603927.SS | China | $1.77B | -14% | -24% | 2% | 44.3× | 23.0% | +0.9% |
| Beijing Haizhi Technology 2706.HK | Hong Kong | $1.75B | -31% | +23% | -9% | 208.5× | n/a | n/a |
| Wuhan Dameng Database 688692.SS | China | $1.75B | -28% | +28% | 28% | 33.4× | 12.7% | +23.2% |
| Certara CERT | United States | $1.84B | +91% | +1% | 5% | 31.4× | 40.7% | +11.5% |
| C3.ai AI | United States | $1.84B | +18% | -38% | -198% | n/a | n/a | n/a |
| freee K.K 4478.T | Japan | $1.72B | +100% | +28% | 3% | 79.1× | n/a | n/a |
| SoundHound AI SOUN | United States | $1.85B | -54% | +55% | -96% | n/a | n/a | n/a |
| TRS Information Technology 300229.SZ | China | $1.71B | -27% | -23% | -76% | n/a | n/a | n/a |
| Adeia ADEA | United States | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% | -13.0% |
| Hacksaw HACK.ST | Sweden | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% | +85.9% |
| Hydsoft Technology 301316.SZ | China | $1.86B | -41% | +19% | 3% | 158.4× | 46.1% | +26.7% |
| eToro ETOR | United States | $1.86B | -40% | +10% | 32% | 11.0× | -18.5% | +15.4% |
| Hangzhou Shunwang Technology 300113.SZ | China | $1.70B | -32% | -36% | 26% | 27.1× | 26.2% | +11.0% |
| ArcSoft 688088.SS | China | $1.87B | -26% | +10% | 12% | 49.1× | 41.3% | +6.2% |
| Shenzhen Intellifusion Technologies 688343.SS | China | $1.87B | -46% | -4% | -52% | n/a | n/a | n/a |
| Lyntris LYNX | United States | $1.69B | n/a | +16% | 9% | n/a | n/a | n/a |
| Business-Intelligence of Oriental Nations 300166.SZ | China | $1.88B | -27% | +7% | -5% | 94.1× | n/a | n/a |
| iFAST AIY.SI | Singapore | $1.89B | -10% | +35% | 24% | 18.6× | -11.6% | +24.8% |