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Nayax Ltd. (NYAX) is a leading global fintech platform providing end-to-end payment processing, management suite, and consumer engagement tools for unattended retail (vending, EV charging, laundromats, car washes).
Investment Thesis
Nayax is a high-growth 'platform' story with massive operating leverage. The company dominates the 'unattended retail' market, where the shift from cash to digital payments is a multi-decade tailwind. Nayax provides the hardware (the card reader) as a trojan horse to sell its high-margin SaaS management software and capture recurring payment processing fees. As they expand into the rapidly growing EV charging infrastructure market, the potential for high-margin recurring revenue grows exponentially. Nayax is a classic 'picks and shovels' play on the automation of retail.
Key Growth Drivers
Sticky SaaS Revenue
Once a vending or car wash operator installs Nayax hardware, they are locked into the Nayax software ecosystem, providing high-margin recurring revenue with near-zero churn.
EV Charging Infrastructure
Nayax's integrated payment and management solutions are becoming the standard for public EV chargers, a market set for explosive growth through 2030.
Global Scale Advantage
Operating in over 80 countries, Nayax has the scale to handle complex multi-currency and multi-jurisdictional payments that local competitors cannot match.
Valuation & Financial Modeling
NYAX trades at a premium to legacy payment processors but at a significant discount to high-growth SaaS platforms. As the percentage of recurring revenue in their mix increases, we expect a major multiple expansion for the stock.
Risk Factors & Bear Case
Supply chain disruptions for their hardware components could slow new installations. Additionally, intense competition from regional fintech players in Europe and Asia could pressure processing margins.
Conclusion
Nayax is an elite fintech compounder. It offers exposure to the unstoppable trend of unattended commerce and EV infrastructure at a reasonable growth price. Rated 'Strong Buy'.
Upcoming Catalysts
No upcoming catalysts identified.
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Relative valuation derived from Technology sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 38.4GRADE D
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
-13.6%
Sector: -1.4%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, Nayax Ltd. (NYAX) receives a "Hold" rating with a composite score of 52.0/100, ranked #258 out of 4446 stocks. Key factor scores: Quality 38/100, Value 46/100, Momentum 78/100. This is quantitative analysis only — not investment advice.
Nayax Ltd. (NYAX) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does Nayax Ltd. Do?
N/A Nayax Ltd. (NYAX) is classified as a mid-cap stock in the Technology sector, specifically within the Computer Software industry. The company is led by CEO Yair Nechmad and employs approximately 550 people. With a market capitalization of $2.2B, NYAX is one of the notable companies in the Technology sector.
Nayax Ltd. (NYAX) Stock Rating — Hold (April 2026)
As of April 2026, Nayax Ltd. receives a Hold rating with a composite score of 52.0/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.NYAX ranks #258 out of 4,446 stocks in our coverage universe. Within the Technology sector, Nayax Ltd. ranks #9 of 584 stocks, placing it in the top 10% of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
NYAX Stock Price and 52-Week Range
Nayax Ltd. (NYAX) currently trades at $59.84. The stock gained $2.84 (5.0%) in the most recent trading session. The 52-week high for NYAX is $61.50, which means the stock is currently trading -2.7% from its annual peak. The 52-week low is $32.38, putting the stock 84.8% above its annual trough. Recent trading volume was 9K shares, suggesting relatively thin trading activity.
Is NYAX Overvalued or Undervalued? — Valuation Analysis
Nayax Ltd. (NYAX) carries a value factor score of 46/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The price-to-book ratio stands at 13.21x, versus the sector average of 3.16x. The price-to-sales ratio is 1.72x, compared to 1.06x for the average Technology stock. On an enterprise value basis, NYAX trades at 21.64x EV/EBITDA, versus 12.79x for the sector.
Overall, NYAX's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
Nayax Ltd. Profitability — ROE, Margins, and Quality Score
Nayax Ltd. (NYAX) earns a quality factor score of 38/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -13.6%, compared to the Technology sector average of -1.4%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -5.2% versus the sector average of -1.0%.
On a margin basis, Nayax Ltd. reports gross margins of 44.6%, compared to 50.9% for the sector. The operating margin is 2.5% (sector: -0.5%). Net profit margin stands at -1.8%, versus -1.5% for the average Technology stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
NYAX Debt, Balance Sheet, and Financial Health
Nayax Ltd. has a debt-to-equity ratio of 30.0%, compared to the Technology sector average of 43.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. Total debt on the balance sheet is $49M. Cash and equivalents stand at $83M.
NYAX has a beta of 0.07, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Nayax Ltd. is 69/100, reflecting average volatility within the normal range for its sector.
Nayax Ltd. Revenue and Earnings History — Quarterly Trend
In TTM 2026, Nayax Ltd. reported revenue of $317M. Net income for the quarter was $-6M. Gross margin was 44.6%. Operating income came in at $8M.
In FY 2024, Nayax Ltd. reported revenue of $317M. Net income for the quarter was $-6M. Gross margin was 44.6%. Revenue grew 33.4% year-over-year compared to FY 2023. Operating income came in at $8M.
In FY 2023, Nayax Ltd. reported revenue of $238M. Net income for the quarter was $-16M. Gross margin was 37.1%. Revenue grew 37.2% year-over-year compared to FY 2022. Operating income came in at $-8M.
In FY 2022, Nayax Ltd. reported revenue of $174M. Net income for the quarter was $-38M. Gross margin was 34.6%. Revenue grew 45.6% year-over-year compared to FY 2021. Operating income came in at $-32M.
Over the past 5 quarters, Nayax Ltd. has demonstrated a growth trajectory, with revenue expanding from $119M to $317M. Investors analyzing NYAX stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
NYAX Dividend Yield and Income Analysis
Nayax Ltd. (NYAX) does not currently pay a dividend. This is common among smaller companies in the Computer Software industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Technology dividend stocks may want to explore other Technology stocks or use the stock screener to filter by dividend yield.
NYAX Momentum and Technical Analysis Profile
Nayax Ltd. (NYAX) has a momentum factor score of 78/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 27/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 45/100 reflects moderate short selling activity.
NYAX vs Competitors — Technology Sector Ranking and Peer Comparison
Comparing NYAX against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full NYAX vs S&P 500 (SPY) comparison to assess how Nayax Ltd. stacks up against the broader market across all factor dimensions.
NYAX Next Earnings Date
No upcoming earnings date has been announced for Nayax Ltd. (NYAX) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy NYAX? — Investment Thesis Summary
Nayax Ltd. presents a balanced picture with arguments on both sides. The quality score of 38/100 flags below-average profitability. Price momentum is positive at 78/100, suggesting the trend favors buyers. Low volatility (stability score 69/100) reduces downside risk.
In summary, Nayax Ltd. (NYAX) earns a Hold rating with a composite score of 52.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on NYAX stock.
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Execution Benchmarks audit
Gross Margin
Core pricing power
44.6%
Sector: 50.9%
-12% VS SCTR
Operating Margin
Operating efficiency
2.5%
Sector: -0.5%
-603% VS SCTR
Net Margin
Bottom-line conversion
-1.8%
Sector: -1.5%
+18% VS SCTR
Return on Equity
Equity capital efficiency
-13.6%
Sector: -1.4%
+847% VS SCTR
Return on Assets
Asset base utilization
-5.2%
Sector: -1.0%
+442% VS SCTR
Debt/Equity
Financial leverage load
30.0%
Sector: 43.0%
+30% VS SCTR
+318%
Price / Sales
1.7x
+62%
Nayax Ltd. exhibits a 34% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
-5.2%
Sector: -1.0%
Gross Margin
Pricing power and cost efficiency
44.6%
Sector: 50.9%
Operating Margin
Core business profitability
2.5%
Sector: -0.5%
Net Margin
Bottom-line profitability
-1.8%
Sector: -1.5%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.