Nano-x Imaging Ltd. key statistics and ratios

In fiscal 2025, Nano-x Imaging Ltd. had return on equity of -45.6%, an operating margin of -600.8%, debt equal to 2.4% of equity and a current ratio of 3.96. 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.

Nano-x Imaging Ltd.: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	—	−80.2%	−66.6%	−94.0%	−98.2%
Operating margin	<−999%	<−999%	−631.9%	−502.9%	−600.8%
Net margin	<−999%	<−999%	−613.6%	−474.3%	−576.1%
Free-cash-flow margin	<−999%	−589.4%	−485.4%	−348.9%	−345.6%
Return on equity	−21.2%	−44.5%	−29.5%	−27.8%	−45.6%
Return on assets	−17.0%	−36.7%	−25.7%	−25.0%	−40.3%
Asset turnover	0.00	0.03	0.04	0.05	0.07
Current ratio	1.80	3.29	5.71	5.63	3.96
Debt to equity	1.3%	3.6%	1.8%	3.2%	2.4%
R&D as % of revenue	>999%	309.0%	263.0%	178.9%	147.7%
Capital spending as % of revenue	>999%	83.6%	33.3%	24.5%	32.3%

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 · December 31, 2025

What it owns · $162m

Short-term assets $67mLonger-term assets $95m

What it owes, and who funded it · $162m

Short-term liabilities $17mLonger-term liabilities $6mShareholders' equity $140m

Short-term assets cover short-term liabilities $67m of assets due within a year against $17m of liabilities due within a year.
Short-term assets cover long-term liabilities $67m short-term assets against $6m 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 Nano-x Imaging Ltd.'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

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

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

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Figures from Nano-x Imaging Ltd.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Nano-x Imaging Ltd.