Brainsway Ltd's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Brainsway Ltd (BWAY) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Brainsway Ltd vs Its Competitors
- TTM: Trailing 12-month revenue of 52M vs 39,434M combined for tracked competitors (0.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months), vs decelerating (-3.3%) for its tracked peer group.
- Growth: Brainsway Ltd generated 27.3% revenue growth year over year in Q4 2025, vs 10.4% for its tracked competitors combined.
- Profitability: Its 14.5% net margin compares with 13.8% for the peer group.
- Scale: Brainsway Ltd ranks #76 of 247 companies by market capitalization in the Medical Equipment & Supplies industry, holding 0.1% of industry market cap.
- Peer revenue share: Brainsway Ltd accounted for 0.5% of combined revenue among its tracked peer group, up from 0.5% a year earlier.
- Peer differentiation: Revenue per employee of $0.40M compares with $0.41M for the peer group (1.0x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BWAY Sales vs. its Competitors, Q4 2025
Brainsway Ltd reported revenue growth of 27.33 % year on year in Q4 2025, above its competitors' combined revenue growth of 10.40 %.
With a net margin of 14.50 %, Brainsway Ltd achieved higher profitability than its competitors (13.81 %).
Brainsway Ltd generated 0.54 % of the combined sales of its peer group, up from 0.47 % a year earlier.
Brainsway Ltd vs. its Competitors, Q4 2025
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Brainsway Ltd and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Brainsway Ltd | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (10) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Brainsway Ltd's competitor groups requires a Commercial License.
For context: the Medical Equipment & Supplies industry grew revenue 15.0% year over year, combined, vs 27.3% for Brainsway Ltd. Brainsway Ltd's share of combined industry revenue moved from 0.04% to 0.04%, a gain of 0.00 percentage points.
Brainsway Ltd's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Brainsway Ltd | Yes | Yes | Yes | No |
| Competitors combined (10) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 33.30 % (2 of 6) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BWAY Stock Performance relative to its Competitors
BWAY Stock Performance relative to High-Confidence Competitors
BWAY Stock Performance relative to Similar-Size Competitors
BWAY Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Electrocore Inc | 282.9% | Outperformed |
| 2 | Halozyme Therapeutics Inc | 282.9% | Outperformed |
| 3 | Valion Bio Inc | 282.9% | Outperformed |
| 4 | Neuronetics Inc | 282.9% | Outperformed |
| 5 | Sensus Healthcare Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Brainsway Ltd's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Brainsway Ltd's Comment on Competition and Industry Peers
Publicly Traded Peers of Brainsway Ltd
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Brainsway Ltd | - | 52.23 |
| Medtronic Plc | 115,016.45 | 37,542.00 |
| Halozyme Therapeutics Inc | 13,683.96 | 1,663.74 |
| Solana Company | 217.93 | 9.59 |
| Nevro Corp | 216.60 | 407.53 |
| Neuronetics Inc | 186.84 | 154.59 |
| SUBTOTAL | 129,486.28 | 39,894.27 |
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Sources: Brainsway Ltd's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Brainsway Ltd versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Brainsway Ltd's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Magstim | Named by the company | 85% |
| Cloud TMS | Named by the company | 85% |
| Nexstim | Named by the company | 85% |
| Magventure | Named by the company | 85% |
| MAG & More | Named by the company | 85% |
| Neuronetics | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Brainsway Ltd's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Brainsway Ltd's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Medtronic Plc | CARDIOVASCULAR 38.34 % |
| Neuronetics Inc | Clinical Services Segment 63.04 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Brainsway Ltd's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Brainsway Ltd | - | 404,845 | 58,721 |
| Medtronic Plc | 115,016 | 395,179 | 55,463 |
| Halozyme Therapeutics Inc | 13,684 | 3,933,187 | 977,768 |
| Solana Company | 218 | 456,619 | -6,516,714 |
| Nevro Corp | 217 | 335,414 | -93,365 |
| Neuronetics Inc | 187 | 234,945 | -46,886 |
| PEERS TOTAL | 129,486 | 408,729 | 54,824 |
Brainsway Ltd's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Medtronic Plc | United States 49.83 % |
| Nevro Corp | United States 86.64 % |
| Sensus Healthcare Inc | US 78.17 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Brainsway Ltd's Position in Industry Market Structure
Market-capitalization share and concentration across all 222 companies in Brainsway Ltd's industry classification, broader than the peer set above. Market cap in millions of $.Brainsway Ltd ranks #76 of 222 companies by market capitalization in its industry, holding 0.08 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 587, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Intuitive Surgical Inc | 145,832 | 13.38 % |
| 2 | Medtronic Plc | 113,372 | 10.40 % |
| 3 | Stryker Corp | 105,405 | 9.67 % |
| 4 | 3m Company | 88,542 | 8.12 % |
| 5 | Boston Scientific Corporation | 1,234 | 5.2% |
| 6 | Becton Dickinson And Company | 1,234 | 5.2% |
| 7 | Edwards Lifesciences Corporation | 1,234 | 5.2% |
| 8 | Dexcom Inc | 1,234 | 5.2% |
| 9 | Resmed Inc | 1,234 | 5.2% |
| 10 | Alcon inc | 1,234 | 5.2% |
| 76 | Brainsway Ltd | 871 | 0.08 % |
Market cap and industry share for the rest of Brainsway Ltd's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Brainsway Ltd's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 71 | Bioventus Inc | 978 | 104.14 % |
| 72 | Beta Bionics Inc | 966 | -1.97 % |
| 73 | Procept Biorobotics Corporation | 961 | -54.51 % |
| 74 | Inmode Ltd | 931 | -3.79 % |
| 75 | Ceribell Inc | 1,234 | 12.3% |
| 76 | Brainsway Ltd | 871 | 75.05 % |
| 77 | Si bone inc | 1,234 | 12.3% |
| 78 | Anteris Technologies Global Corp | 1,234 | 12.3% |
| 79 | Mimedx Group Inc | 1,234 | 12.3% |
| 80 | Angiodynamics Inc | 1,234 | 12.3% |
| 81 | Delcath Systems Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Brainsway Ltd's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Brainsway Ltd's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Medical Equipment & Supplies industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (288 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 75.42 % | 53.35 % (avg) | +22.1 pp |
| Operating Margin | 8.28 % | industry median | +18.2 pp |
| EBITDA Margin | 14.76 % | -6.82 % (avg) | +21.6 pp |
| Capital Intensity (Capex / Revenue) | - | 5.43 % (avg) | - |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Brainsway Ltd's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue Growth | 16.96 % | 29.04 % | 27.33 % |
| Operating Margin | -15.60 % | 3.39 % | 8.28 % |
| Return on Invested Capital | -5.96 % | 1.12 % | 2.95 % |
| P/E | - | 194.7x | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Brainsway Ltd's Strategic Group Map
Every company in Brainsway Ltd's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Brainsway Ltd is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Brainsway Ltd's BCG Growth-Share Matrix
Relative market share (vs Brainsway Ltd's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Brainsway Ltd falls in the Dog quadrant: relative market share of 0.01x vs its largest competitor, in an industry growing revenue 9.2% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Brainsway Ltd's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 587 (see Industry Market Structure & Concentration above) |
| Supplier Power | Not covered on this page | See Brainsway Ltd's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Brainsway Ltd's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Brainsway Ltd's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Brainsway Ltd falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Brainsway Ltd's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 18.2 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+300.0% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Low relative market share vs the industry leader (0.01x).
Opportunities
- A meaningful share of tracked competitors (30.00 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-3.3% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Brainsway Ltd's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Brainsway Ltd | 3.01 | 3.73 | - |
| Medtronic Plc | 0.15 | 2.10 | 0.57 |
| Halozyme Therapeutics Inc | 0.60 | 2.38 | 8.67 |
| Solana Company | 13.17 | 17.87 | - |
| Nevro Corp | 0.90 | 5.27 | 0.83 |
| Neuronetics Inc | 0.97 | 1.95 | 2.68 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Brainsway Ltd's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Brainsway Ltd | Q4 2025 | +27.3 % | +159.3 % |
| Medtronic Plc | Q2 2026 | +13.7 % | +41.3 % |
| Halozyme Therapeutics Inc | Q2 2026 | +47.7 % | +39.2 % |
| Solana Company | Q1 2026 | +7,289.8 % | - |
| Nevro Corp | Q4 2024 | -9.0 % | - |
| Neuronetics Inc | Q2 2026 | +10.2 % | - |
| PEERS TOTAL | +14.7 % | +30.0 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Brainsway Ltd's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Brainsway Ltd | Q4 2025 | +23.0 % | - |
| Medtronic Plc | Q2 2026 | +13.8 % | -0.2 % |
| Halozyme Therapeutics Inc | Q2 2026 | +70.8 % | +167.0 % |
| Solana Company | Q1 2026 | +48.8 % | - |
| Nevro Corp | Q4 2024 | +14.5 % | +7.0 % |
| Neuronetics Inc | Q2 2026 | +1.7 % | +65.5 % |
Brainsway Ltd's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Brainsway Ltd | 6.69% | 10.35% | 10.35% |
| Medtronic Plc | 5.71% | 6.46% | 10.64% |
| Halozyme Therapeutics Inc | 16.55% | 19.99% | 180.63% |
| Solana Company | - | - | - |
| Nevro Corp | - | - | - |
| Neuronetics Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Brainsway Ltd's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Brainsway Ltd | - | - |
| Medtronic Plc | 263.24 | 3.06 |
| Halozyme Therapeutics Inc | 33.11 | 8.22 |
| Solana Company | - | 22.73 |
| Nevro Corp | - | 0.53 |
| Neuronetics Inc | - | 1.21 |
| PEERS AVERAGE | 24.20 | 3.25 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.