Nayax vs Radware
Nayax is the larger business, with $400m of revenue in fiscal 2025 against $302m for Radware (1.3 times as much). Nayax grew faster (27.5% against 9.8%). Nayax kept more of each dollar of sales as profit: a net margin of 8.9% against 6.7%. Radware carries less debt relative to equity (0.0% against 135.9%).
| Latest fiscal year | NayaxNYAX, 2025 | RadwareRDWR, 2025 |
|---|---|---|
| Revenue | $400m | $302m |
| Revenue growth | 27.5% | 9.8% |
| Net income | $35.5m | $20.3m |
| Operating margin | 9.4% | 3.8% |
| Net margin | 8.9% | 6.7% |
| Return on equity | 17.9% | 6.1% |
| Free cash flow | $35.0m | $41.6m |
| Cash | $320m | $105m |
| Total debt | $314m | $0 |
| Debt to equity | 135.9% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $10.5m |
| Employees | — | — |
| Market value | $1.84bn | $1.44bn |
| Price vs our value range | Above our value range | Above our value range |
| Moat score | — | 55 (Moderate) |
| Insider trades, 12 months | 19 buys, 57 sales | 1 buys, 14 sales |