Nayax Ltd. Ordinary Shares (NYAX)

FairStock Score: 37/100 — MIXED

Key Financials

Strengths

• Solid return on equity of 17.9% above cost of capital
• Revenue growth of 34.3% demonstrates strong top-line momentum

Concerns

• Trades significantly above Graham Number ($12) with negative 478% margin of safety—limited downside protection

AI Analysis

Nayax Ltd. Ordinary Shares is a small-cap technology company valued at $2.5 billion. The business generates $400 million in annual revenue with a 3.3% net margin. From a quality standpoint, Nayax shows healthy Altman Z-Score of 3.1 and adequate 18% ROE. On valuation, the stock is commanding a steep 69.0x multiple, with trades far above its Graham Number ($12) with no margin of safety. Growth dynamics show revenue growing at 34.3% and profit growth of 700.2%. Our composite FairStock Score of 37/100 reflects below-average fundamentals overall. Investors should weigh the business quality against the current price and their own margin of safety requirements.

Bull Case

Nayax's 34% revenue growth trajectory could accelerate as it captures additional market share in the technology sector. Operational leverage in the business model means incremental revenue growth could disproportionately boost bottom-line profitability.

Bear Case

At 69x earnings, any growth disappointment triggers rapid multiple compression—a 20% earnings miss plus multiple contraction to 20x implies 40%+ downside. Regulatory changes, input cost inflation, or demand normalization represent underappreciated risks that could materially impact forward estimates.

Data from SEC filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer