BrainsWay

BWAY

Medical - Devices · Healthcare

Price

$15.73

+0.89 (+6.00%)

Market Cap

$617.0M

Exchange

NASDAQ

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Share count falling — buybacks

−31.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 31.2M (2021) → 21.2M (2025)

Brainsway Ltd. develops and sells noninvasive neurostimulation treatments for mental health disorders in the United States, Europe, Israel, and internationally. It offers Deep Transcranial Magnetic Stimulation platform technology for the treatment of major depressive disorders, anxious depression, obsessive-compulsive disorders, smoking addiction, bipolar disorders, post traumatic stress disorders, schizophrenia, Alzheimer's disease, autism, chronic pain, multiple sclerosis, post stroke rehabili

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+28.2% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

+288.3% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$10M/ year

↑ Rising (+34% vs prior year)

18.4% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

Insider Activity

25.0%ownership

Insiders own a meaningful stake in the company

Cash Runway

~8 years

$68M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$68M cash & investments at current burn rate

Strong grower

BrainsWay is growing revenue at 28% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

76.4%

Premium pricing power — 76.4% gross margin

Operating Margin

13.2%

Healthy — 13.2% operating margin

ROCE

2.6%

Weak — 2.6% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales YoY

+27.5%

Fast-growing sales (27.5% YoY)

EPS YoY

+167.9%

Earnings growing fast (167.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Cash Conversion

236%

Turns 236% of profit into real cash

FCF Margin

26.3%

Converts sales into free cash efficiently (26.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

Debt / Equity

0.01

Conservative — low debt load (0.01)

Interest Cover

2.40x

Tight — interest eats into profit (2.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

P/E Ratio (TTM)

56.2x

Expensive — P/E 56.2

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+7.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (56.2 → 49.1)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Not applicable for this business.

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial