ZYXI Fundamental Analysis - ZYNEX INC

Fundamental Rating

Taking everything into account, ZYXI scores 2 out of 10 in our fundamental rating. ZYXI was compared to 191 industry peers in the Health Care Equipment & Supplies industry. ZYXI may be in some trouble as it scores bad on both profitability and health. ZYXI is valued expensive and it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

ZYXI had negative earnings in the past year.

ZYXI had a negative operating cash flow in the past year.

Each year in the past 5 years ZYXI has been profitable.

In the past 5 years ZYXI always reported a positive cash flow from operatings.

1.2 Ratios

ZYXI has a Return On Assets of -33.35%. This is comparable to the rest of the industry: ZYXI outperforms 41.36% of its industry peers.

With a Return On Equity value of -2272.96%, ZYXI is not doing good in the industry: 90.05% of the companies in the same industry are doing better.

		Industry Rank	Sector 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

1.3 Margins

ZYXI's Profit Margin has declined in the last couple of years.

In the last couple of years the Operating Margin of ZYXI has declined.

With an excellent Gross Margin value of 75.62%, ZYXI belongs to the best of the industry, outperforming 87.96% of the companies in the same industry.

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 Rank	Sector 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%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

ZYXI does not have a ROIC to compare to the WACC, probably because it is not profitable.

Compared to 1 year ago, ZYXI has less shares outstanding

ZYXI has less shares outstanding than it did 5 years ago.

ZYXI has a worse debt/assets ratio than last year.

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.

ZYXI has a Altman-Z score (0.83) which is comparable to the rest of the industry.

ZYXI has a Debt/Equity ratio of 0.56. This is a neutral value indicating ZYXI is somewhat dependend on debt financing.

With a Debt to Equity ratio value of 0.56, ZYXI is not doing good in the industry: 65.44% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
Debt/Equity	0.56
Debt/FCF	N/A
Altman-Z	0.83

ROIC/WACCN/A

WACC6.53%

2.3 Liquidity

A Current Ratio of 0.62 indicates that ZYXI may have some problems paying its short term obligations.

With a Current ratio value of 0.62, ZYXI is not doing good in the industry: 91.10% of the companies in the same industry are doing better.

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 has a worse Quick ratio (0.45) than 91.10% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	0.62
Quick Ratio	0.45

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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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

ZYXI shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -25.21%.

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

The Earnings Per Share is expected to decrease by -28.28% on average over the next years. This is quite bad

ZYXI is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -7.81% yearly.

EPS Next Y-1376.89%

EPS Next 2Y-145.81%

EPS Next 3Y-34.32%

EPS Next 5Y-28.28%

Revenue Next Year-52.62%

Revenue Next 2Y-28.78%

Revenue Next 3Y-15.7%

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.

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4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for ZYXI. In the last year negative earnings were reported.

Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for ZYXI. No positive earnings are expected for the next year.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	N/A

4.3 Compensation for Growth

ZYXI's earnings are expected to decrease with -34.32% in the coming years. This may justify a cheaper valuation.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y-145.81%

EPS Next 3Y-34.32%

More info and screens

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5. Dividend

5.1 Amount

No dividends for ZYXI!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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ZYNEX INC

NASDAQ:ZYXI (9/18/2025, 4:09:37 PM)

After market: 1.55 0 (0%)

1.55

+0.05 (+3.33%)

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 Change0.15%

Market Cap46.97M

Analysts80

Price Target4.66 (200.65%)

Short Float %22.86%

Short Ratio12.5

Dividend

		Industry Rank	Sector 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)0%

PT rev (3m)-23.89%

EPS NQ rev (1m)-4%

EPS NQ rev (3m)-240.54%

EPS NY rev (1m)-43.83%

EPS NY rev (3m)-43.83%

Revenue NQ rev (1m)-7.37%

Revenue NQ rev (3m)-63.14%

Revenue NY rev (1m)-18.67%

Revenue NY rev (3m)-18.67%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	0.32
P/FCF	N/A
P/OCF	N/A
P/B	37.24
P/tB	N/A
EV/EBITDA	N/A

EPS(TTM)-0.94

EYN/A

EPS(NY)-0.36

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 Rank	Sector 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 Rank	Sector 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

WACC6.53%

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-1376.89%

EPS Next 2Y-145.81%

EPS Next 3Y-34.32%

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-52.62%

Revenue Next 2Y-28.78%

Revenue Next 3Y-15.7%

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%

ZYNEX INC (ZYXI) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

More info and screens

5. Dividend

5.1 Amount

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