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ZYNEX INC (ZYXI) Stock Fundamental Analysis

NASDAQ:ZYXI - Nasdaq - US98986M1036 - Common Stock - Currency: USD

1.56  +0.04 (+2.63%)

After market: 1.56 0 (0%)

Fundamental Rating

2

Overall ZYXI gets a fundamental rating of 2 out of 10. We evaluated ZYXI against 187 industry peers in the Health Care Equipment & Supplies industry. ZYXI has a bad profitability rating. Also its financial health evaluation is rather negative. ZYXI does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

ZYXI had negative earnings in the past year.
In the past year ZYXI has reported a negative cash flow from operations.
In the past 5 years ZYXI has always been profitable.
ZYXI had a positive operating cash flow in each of the past 5 years.
ZYXI Yearly Net Income VS EBIT VS OCF VS FCFZYXI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5M 10M 15M 20M

1.2 Ratios

ZYXI's Return On Assets of -33.35% is in line compared to the rest of the industry. ZYXI outperforms 40.64% of its industry peers.
ZYXI has a Return On Equity of -2272.96%. This is amonst the worse of the industry: ZYXI underperforms 90.91% of its industry peers.
Industry RankSector Rank
ROA -33.35%
ROE -2272.96%
ROIC N/A
ROA(3y)8.05%
ROA(5y)9.92%
ROE(3y)18.36%
ROE(5y)18.84%
ROIC(3y)N/A
ROIC(5y)N/A
ZYXI Yearly ROA, ROE, ROICZYXI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -200 -400 -600 -800

1.3 Margins

ZYXI's Profit Margin has declined in the last couple of years.
ZYXI's Operating Margin has declined in the last couple of years.
ZYXI has a better Gross Margin (75.62%) than 88.77% of its industry peers.
In the last couple of years the Gross Margin of ZYXI has remained more or less at the same level.
The Profit Margin and Operating Margin are not available for ZYXI so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 75.62%
OM growth 3Y-43.42%
OM growth 5Y-33.75%
PM growth 3Y-50.87%
PM growth 5Y-40.5%
GM growth 3Y0.14%
GM growth 5Y-0.29%
ZYXI Yearly Profit, Operating, Gross MarginsZYXI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60 80

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1

2. Health

2.1 Basic Checks

ZYXI does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for ZYXI has been reduced compared to 1 year ago.
ZYXI has less shares outstanding than it did 5 years ago.
ZYXI has a worse debt/assets ratio than last year.
ZYXI Yearly Shares OutstandingZYXI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M
ZYXI Yearly Total Debt VS Total AssetsZYXI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

2.2 Solvency

ZYXI has an Altman-Z score of 0.83. This is a bad value and indicates that ZYXI is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of ZYXI (0.83) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.56 indicates that ZYXI is somewhat dependend on debt financing.
ZYXI has a Debt to Equity ratio of 0.56. This is in the lower half of the industry: ZYXI underperforms 67.38% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF N/A
Altman-Z 0.83
ROIC/WACCN/A
WACC6.25%
ZYXI Yearly LT Debt VS Equity VS FCFZYXI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M

2.3 Liquidity

A Current Ratio of 0.62 indicates that ZYXI may have some problems paying its short term obligations.
ZYXI has a worse Current ratio (0.62) than 92.51% of its industry peers.
ZYXI has a Quick Ratio of 0.62. This is a bad value and indicates that ZYXI is not financially healthy enough and could expect problems in meeting its short term obligations.
ZYXI's Quick ratio of 0.45 is on the low side compared to the rest of the industry. ZYXI is outperformed by 93.05% of its industry peers.
Industry RankSector Rank
Current Ratio 0.62
Quick Ratio 0.45
ZYXI Yearly Current Assets VS Current LiabilitesZYXI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

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2

3. Growth

3.1 Past

ZYXI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -368.57%.
The earnings per share for ZYXI have been decreasing by -18.77% on average. This is quite bad
The Revenue for ZYXI has decreased by -25.21% in the past year. This is quite bad
ZYXI shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 33.42% yearly.
EPS 1Y (TTM)-368.57%
EPS 3Y-41.04%
EPS 5Y-18.77%
EPS Q2Q%-1750%
Revenue 1Y (TTM)-25.21%
Revenue growth 3Y13.86%
Revenue growth 5Y33.42%
Sales Q2Q%-55.32%

3.2 Future

ZYXI is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -28.28% yearly.
ZYXI is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -7.81% yearly.
EPS Next Y-987.77%
EPS Next 2Y-148.86%
EPS Next 3Y-51.61%
EPS Next 5Y-28.28%
Revenue Next Year-41.75%
Revenue Next 2Y-16.55%
Revenue Next 3Y-3.5%
Revenue Next 5Y-7.81%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
ZYXI Yearly Revenue VS EstimatesZYXI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 50M 100M 150M 200M
ZYXI Yearly EPS VS EstimatesZYXI Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 0.2 -0.2 0.4 -0.4 -0.6

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0

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for ZYXI. In the last year negative earnings were reported.
Also next year ZYXI is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
ZYXI Price Earnings VS Forward Price EarningsZYXI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
ZYXI Per share dataZYXI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2 3 4

4.3 Compensation for Growth

ZYXI's earnings are expected to decrease with -51.61% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-148.86%
EPS Next 3Y-51.61%

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0

5. Dividend

5.1 Amount

ZYXI does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ZYNEX INC

NASDAQ:ZYXI (8/19/2025, 4:04:03 PM)

After market: 1.56 0 (0%)

1.56

+0.04 (+2.63%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)07-31 2025-07-31/amc
Earnings (Next)10-22 2025-10-22/amc
Inst Owners22.94%
Inst Owner Change-17.23%
Ins Owners48.35%
Ins Owner Change-6.31%
Market Cap47.27M
Analysts77.78
Price Target4.66 (198.72%)
Short Float %21.97%
Short Ratio10.01
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
Dividend Growth(5Y)-65.69%
DP-0.02%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-131.91%
Min EPS beat(2)-229.01%
Max EPS beat(2)-34.8%
EPS beat(4)1
Avg EPS beat(4)-91.12%
Min EPS beat(4)-229.01%
Max EPS beat(4)21.1%
EPS beat(8)3
Avg EPS beat(8)-60.9%
EPS beat(12)7
Avg EPS beat(12)-15.64%
EPS beat(16)10
Avg EPS beat(16)-10.53%
Revenue beat(2)0
Avg Revenue beat(2)-17.83%
Min Revenue beat(2)-20.18%
Max Revenue beat(2)-15.48%
Revenue beat(4)0
Avg Revenue beat(4)-13.82%
Min Revenue beat(4)-20.18%
Max Revenue beat(4)-3.62%
Revenue beat(8)0
Avg Revenue beat(8)-10.33%
Revenue beat(12)1
Avg Revenue beat(12)-7.09%
Revenue beat(16)1
Avg Revenue beat(16)-5.97%
PT rev (1m)-23.89%
PT rev (3m)-23.89%
EPS NQ rev (1m)-6.38%
EPS NQ rev (3m)-235.14%
EPS NY rev (1m)0%
EPS NY rev (3m)-389.58%
Revenue NQ rev (1m)-17.14%
Revenue NQ rev (3m)-60.21%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.33
P/FCF N/A
P/OCF N/A
P/B 37.48
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-0.94
EYN/A
EPS(NY)-0.38
Fwd EYN/A
FCF(TTM)-0.25
FCFYN/A
OCF(TTM)-0.24
OCFYN/A
SpS4.78
BVpS0.04
TBVpS-0.86
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -33.35%
ROE -2272.96%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 75.62%
FCFM N/A
ROA(3y)8.05%
ROA(5y)9.92%
ROE(3y)18.36%
ROE(5y)18.84%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)12.93%
ROCE(5y)15.14%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-43.42%
OM growth 5Y-33.75%
PM growth 3Y-50.87%
PM growth 5Y-40.5%
GM growth 3Y0.14%
GM growth 5Y-0.29%
F-Score4
Asset Turnover1.69
Health
Industry RankSector Rank
Debt/Equity 0.56
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 10.42%
Cap/Sales 0.33%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.62
Quick Ratio 0.45
Altman-Z 0.83
F-Score4
WACC6.25%
ROIC/WACCN/A
Cap/Depr(3y)18.03%
Cap/Depr(5y)28.76%
Cap/Sales(3y)0.41%
Cap/Sales(5y)0.58%
Profit Quality(3y)218.02%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-368.57%
EPS 3Y-41.04%
EPS 5Y-18.77%
EPS Q2Q%-1750%
EPS Next Y-987.77%
EPS Next 2Y-148.86%
EPS Next 3Y-51.61%
EPS Next 5Y-28.28%
Revenue 1Y (TTM)-25.21%
Revenue growth 3Y13.86%
Revenue growth 5Y33.42%
Sales Q2Q%-55.32%
Revenue Next Year-41.75%
Revenue Next 2Y-16.55%
Revenue Next 3Y-3.5%
Revenue Next 5Y-7.81%
EBIT growth 1Y-291.11%
EBIT growth 3Y-35.57%
EBIT growth 5Y-11.61%
EBIT Next Year-204.99%
EBIT Next 3Y-38.41%
EBIT Next 5Y-9.53%
FCF growth 1Y-153.82%
FCF growth 3Y24.19%
FCF growth 5Y14.61%
OCF growth 1Y-148.38%
OCF growth 3Y22.32%
OCF growth 5Y15.09%