ZYNEX INC (ZYXI) Fundamental Analysis & Valuation

NASDAQ:ZYXI • US98986M1036

0.125 USD
-0.07 (-34.9%)
At close: Dec 23, 2025
0.13 USD
+0.01 (+4%)
After Hours: 12/23/2025, 8:00:03 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This ZYXI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

2

Taking everything into account, ZYXI scores 2 out of 10 in our fundamental rating. ZYXI was compared to 184 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.


Dividend Valuation Growth Profitability Health

3

1. ZYXI Profitability Analysis

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.
  • ZYXI had positive earnings in each of the past 5 years.
  • In the past 5 years ZYXI always reported a positive cash flow from operatings.
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5M 10M 15M 20M

1.2 Ratios

  • ZYXI has a Return On Assets of -163.18%. This is amonst the worse of the industry: ZYXI underperforms 88.17% of its industry peers.
Industry RankSector Rank
ROA -163.18%
ROE N/A
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 100

1.3 Margins

  • In the last couple of years the Profit Margin of ZYXI has declined.
  • ZYXI's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 71.90%, ZYXI belongs to the top of the industry, outperforming 81.18% of the companies in the same industry.
  • ZYXI's Gross Margin has been stable in the last couple of years.
  • ZYXI does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 71.9%
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 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

1

2. ZYXI Health Analysis

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
  • The number of shares outstanding for ZYXI has been reduced compared to 5 years ago.
  • ZYXI has a worse debt/assets ratio than last year.
ZYXI Yearly Shares OutstandingZYXI Yearly Shares OutstandingYearly Shares Outstanding 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 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

2.2 Solvency

  • ZYXI has an Altman-Z score of -2.75. 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 (-2.75) is worse than 63.44% of its industry peers.
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Altman-Z -2.75
ROIC/WACCN/A
WACC4.78%
ZYXI Yearly LT Debt VS Equity VS FCFZYXI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M 60M

2.3 Liquidity

  • ZYXI has a Current Ratio of 0.47. 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 Current ratio of 0.47. This is amonst the worse of the industry: ZYXI underperforms 91.94% of its industry peers.
  • A Quick Ratio of 0.32 indicates that ZYXI may have some problems paying its short term obligations.
  • ZYXI has a Quick ratio of 0.32. This is amonst the worse of the industry: ZYXI underperforms 93.55% of its industry peers.
Industry RankSector Rank
Current Ratio 0.47
Quick Ratio 0.32
ZYXI Yearly Current Assets VS Current LiabilitesZYXI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. ZYXI Growth Analysis

3.1 Past

  • The earnings per share for ZYXI have decreased strongly by -540.63% in the last year.
  • Measured over the past years, ZYXI shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -18.77% on average per year.
  • ZYXI shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -44.13%.
  • Measured over the past years, ZYXI shows a very strong growth in Revenue. The Revenue has been growing by 33.42% on average per year.
EPS 1Y (TTM)-540.63%
EPS 3Y-41.04%
EPS 5Y-18.77%
EPS Q2Q%-671.43%
Revenue 1Y (TTM)-44.13%
Revenue growth 3Y13.86%
Revenue growth 5Y33.42%
Sales Q2Q%-73.26%

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.
  • The Revenue is expected to decrease by -7.81% on average over the next years.
EPS Next Y-1584.67%
EPS Next 2Y-154.49%
EPS Next 3Y-60.01%
EPS Next 5Y-28.28%
Revenue Next Year-52.33%
Revenue Next 2Y-27.82%
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.
ZYXI Yearly Revenue VS EstimatesZYXI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 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 -0.5 -1

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Find the best growth stocksShow best growing peers

0

4. ZYXI Valuation Analysis

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 10 20 30

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 -1 2 3

4.3 Compensation for Growth

  • ZYXI's earnings are expected to decrease with -60.01% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-154.49%
EPS Next 3Y-60.01%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. ZYXI Dividend Analysis

5.1 Amount

  • No dividends for ZYXI!.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

ZYXI Fundamentals: All Metrics, Ratios and Statistics

ZYNEX INC

NASDAQ:ZYXI (12/23/2025, 8:00:03 PM)

After market: 0.13 +0.01 (+4%)

0.125

-0.07 (-34.9%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)11-17
Earnings (Next)03-09
Inst Owners13.71%
Inst Owner Change-82.46%
Ins Owners47.94%
Ins Owner Change0%
Market Cap3.80M
Revenue(TTM)108.20M
Net Income(TTM)-73.96M
Analysts82.5
Price Target2.91 (2228%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend0
Dividend Growth(5Y)-65.69%
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-176.55%
Min EPS beat(2)-229.01%
Max EPS beat(2)-124.09%
EPS beat(4)0
Avg EPS beat(4)-127.42%
Min EPS beat(4)-229.01%
Max EPS beat(4)-34.8%
EPS beat(8)2
Avg EPS beat(8)-77.04%
EPS beat(12)6
Avg EPS beat(12)-26.42%
EPS beat(16)9
Avg EPS beat(16)-20.44%
Revenue beat(2)0
Avg Revenue beat(2)-31.63%
Min Revenue beat(2)-43.09%
Max Revenue beat(2)-20.18%
Revenue beat(4)0
Avg Revenue beat(4)-23.68%
Min Revenue beat(4)-43.09%
Max Revenue beat(4)-15.48%
Revenue beat(8)0
Avg Revenue beat(8)-15.48%
Revenue beat(12)1
Avg Revenue beat(12)-10.53%
Revenue beat(16)1
Avg Revenue beat(16)-8.43%
PT rev (1m)0%
PT rev (3m)-37.59%
EPS NQ rev (1m)0%
EPS NQ rev (3m)5.43%
EPS NY rev (1m)0%
EPS NY rev (3m)0.51%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.22%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.62%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.04
P/FCF N/A
P/OCF N/A
P/B N/A
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-1.41
EYN/A
EPS(NY)-0.4
Fwd EYN/A
FCF(TTM)-0.69
FCFYN/A
OCF(TTM)-0.68
OCFYN/A
SpS3.56
BVpS-1.36
TBVpS-1.36
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -163.18%
ROE N/A
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 71.9%
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%
ROICexgc growth 3YN/A
ROICexgc 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 Turnover2.39
Health
Industry RankSector Rank
Debt/Equity N/A
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 9.44%
Cap/Sales 0.4%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.47
Quick Ratio 0.32
Altman-Z -2.75
F-Score4
WACC4.78%
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)-540.63%
EPS 3Y-41.04%
EPS 5Y-18.77%
EPS Q2Q%-671.43%
EPS Next Y-1584.67%
EPS Next 2Y-154.49%
EPS Next 3Y-60.01%
EPS Next 5Y-28.28%
Revenue 1Y (TTM)-44.13%
Revenue growth 3Y13.86%
Revenue growth 5Y33.42%
Sales Q2Q%-73.26%
Revenue Next Year-52.33%
Revenue Next 2Y-27.82%
Revenue Next 3Y-15.7%
Revenue Next 5Y-7.81%
EBIT growth 1Y-519.9%
EBIT growth 3Y-35.57%
EBIT growth 5Y-11.61%
EBIT Next Year-252.95%
EBIT Next 3Y-38.41%
EBIT Next 5Y-9.53%
FCF growth 1Y-234.51%
FCF growth 3Y24.19%
FCF growth 5Y14.61%
OCF growth 1Y-225.94%
OCF growth 3Y22.32%
OCF growth 5Y15.09%

ZYNEX INC / ZYXI FAQ

What is the ChartMill fundamental rating of ZYNEX INC (ZYXI) stock?

ChartMill assigns a fundamental rating of 2 / 10 to ZYXI.


What is the valuation status for ZYXI stock?

ChartMill assigns a valuation rating of 0 / 10 to ZYNEX INC (ZYXI). This can be considered as Overvalued.


What is the profitability of ZYXI stock?

ZYNEX INC (ZYXI) has a profitability rating of 3 / 10.


What is the expected EPS growth for ZYNEX INC (ZYXI) stock?

The Earnings per Share (EPS) of ZYNEX INC (ZYXI) is expected to decline by -1584.67% in the next year.


Can you provide the dividend sustainability for ZYXI stock?

The dividend rating of ZYNEX INC (ZYXI) is 0 / 10 and the dividend payout ratio is 0%.