Byrna Technologies Inc. key statistics and ratios

In fiscal 2025, Byrna Technologies Inc. had return on equity of 16.1%, an operating margin of 10.0%, debt equal to 0.0% of equity and a current ratio of 3.73. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Byrna Technologies Inc.: financial ratios, annual
Fiscal year	2012Nov 2012	2013Nov 2013	2014Nov 2014	2015Nov 2015	2016Nov 2016	2017Nov 2017	2018Nov 2018	2019Nov 2019	2020Nov 2020	2021Nov 2021	2022Nov 2022	2023Nov 2023	2024Nov 2024	2025Nov 2025	LTMAug 2026
Gross margin	—	42.3%	35.7%	23.2%	38.3%	34.6%	25.6%	16.1%	45.3%	54.3%	54.7%	55.5%	61.5%	60.5%	54.6%
Operating margin	—	<−999%	<−999%	<−999%	<−999%	−656.0%	−814.7%	−355.7%	−26.0%	−7.8%	−16.1%	−18.3%	7.8%	10.0%	−11.4%
Net margin	—	<−999%	<−999%	<−999%	<−999%	−957.3%	−860.6%	−477.0%	−75.8%	−7.8%	−16.4%	−19.2%	14.9%	8.2%	−9.2%
Free-cash-flow margin	—	<−999%	<−999%	<−999%	<−999%	−510.4%	−762.4%	−434.7%	6.7%	−14.9%	−35.6%	7.0%	11.0%	−7.8%	3.6%
Return on equity	—	—	—	—	—	—	—	—	—	−8.8%	−14.1%	−18.6%	26.5%	16.1%	−14.6%
Return on assets	−484.1%	−163.4%	−150.5%	−128.0%	−152.8%	−218.6%	−88.8%	−141.7%	−101.3%	−6.8%	−11.9%	−15.0%	20.6%	12.4%	−11.9%
Asset turnover	—	0.02	0.02	0.08	0.12	0.23	0.10	0.30	1.34	0.87	0.73	0.78	1.38	1.51	1.29
Current ratio	1.81	17.91	8.09	11.63	0.21	2.22	0.96	0.78	1.41	8.09	4.78	4.42	3.30	3.73	5.54
Debt to equity	—	0.0%	>999%	142.9%	—	—	729.4%	—	2.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	—	—	—	—	—	—	n/m	n/m	n/m	—	—	—	—	—	—
Effective tax rate	—	—	—	—	—	—	—	—	—	—	—	—	—	17.5%	—
R&D as % of revenue	—	0.0%	—	—	—	—	65.6%	17.1%	0.2%	0.7%	1.0%	1.4%	0.7%	0.3%	—
Capital spending as % of revenue	—	150.2%	88.6%	0.0%	0.0%	7.5%	124.5%	26.6%	8.6%	4.4%	6.8%	2.1%	2.7%	6.5%	3.2%
Free cash flow ÷ net income	—	—	—	—	—	—	—	—	—	—	—	—	73.4%	−94.9%	—
Dividends and buybacks ÷ free cash flow	—	—	—	—	—	—	—	—	—	—	—	0.0%	40.0%	—	58.3%

US$ thousands unless shown otherwise. Fiscal quarters.

Byrna Technologies Inc.: financial ratios, quarterly
Quarter	2024 Q4Nov 2024	2025 Q1Feb 2025	2025 Q2May 2025	2025 Q3Aug 2025	2025 Q4Nov 2025	2026 Q1Feb 2026	2026 Q2May 2026	2026 Q3Aug 2026
Gross margin	62.8%	60.8%	61.6%	60.1%	59.8%	59.9%	10.9%	79.5%
Operating margin	14.6%	6.5%	11.7%	10.2%	11.2%	3.2%	−78.4%	−19.2%
Net margin	34.6%	6.3%	8.5%	7.9%	9.5%	2.8%	−61.6%	−19.0%
Free-cash-flow margin	22.5%	−24.5%	−22.4%	−16.0%	23.1%	−17.4%	5.3%	−3.5%
Current ratio	3.30	—	—	4.21	3.73	4.96	4.86	5.54

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 2 checks passed · August 31, 2026

What it owns · $65m

Short-term assets $46mLonger-term assets $19m

What it owes, and who funded it · $65m

Short-term liabilities $8mLonger-term liabilities $1mShareholders' equity $55m

Short-term assets cover short-term liabilities $46m of assets due within a year against $8m of liabilities due within a year.
Short-term assets cover long-term liabilities $46m short-term assets against $1m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Byrna Technologies Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

18 /100

Weak moat

How hard Byrna Technologies's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Net income has been a median -17.0% of total assets over 10 years.
Pricing power 10 / 20

Gross margin has been a median 53.3%, moving by 13.2 percentage points (standard deviation) across 10 years.
Durability 10 / 20

Operating margin has been a median -20.8%; its worst year was -776.1%.
Cash conversion 3 / 20

Free cash flow was positive in 3 of 10 years, at a median -15.0% of revenue.
Discipline 0 / 20

The diluted share count rose 130.7% over five years; stock-based pay has been a median 11.3% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (23 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BYRN vs JAKK BYRN vs POWW BYRN vs KBSX

More: Leisure Products stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Byrna Technologies Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Byrna Technologies Inc.