APYXNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
Apyx Medical Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$2.42−0.13 (-5.10%)
Close on Oct 19, 2026
- Market cap
- $106.12M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
62.5%−0.6 pts over 5 years
Operating margin
-12.2%+60.3 pts over 5 years
Net margin
-21.2%+21.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.9% | +5.9% | +13.8% | +6.0% | |
| Gross profit | +12.5% | +4.3% | +13.6% | +10.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -46.5% | -17.6% | -78.0% | |
| Return on assets | -34.7% | -15.0% | -17.0% | |
| Current ratio | 5.03 | 7.22 | 5.00 | |
| Debt to equity | 0.11 | – | 2.40 | |
| Net debt to EBITDA | 1.15× | – | -0.54× | |
| Interest coverage | -72.1× | -436.6× | -1.2× | |
| Inventory turnover | 0.6× | 2.2× | 2.4× | |
| Capex to revenue | 3.2% | 2.1% | 2.1% | |
| Diluted shares | 27M | 34M | 41M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Apyx Medical generated $62.03M from operations and spent $4.10M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$62.03M
Used
$4.10M
Capital expenditure$4.10M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-21.2%
×Asset turnover0.80×
×Equity multiplier4.58×
=Return on equity, FY2025-78.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -21.2% | 0.80× | 4.58× | -78.0% |
| FY2024 | -48.8% | 0.67× | 3.52× | -114.7% |
| FY2023 | -35.7% | 0.80× | 2.04× | -58.2% |
| FY2022 | -52.1% | 0.74× | 1.32× | -50.8% |
| FY2021 | -31.3% | 0.68× | 1.22× | -25.8% |
| FY2020 | -42.9% | 0.35× | 1.18× | -17.6% |
| FY2019 | -69.8% | 0.31× | 1.14× | -24.9% |
| FY2018 | 377.7% | 0.26× | 1.16× | 114.9% |
| FY2017 | -49.5% | 0.31× | 1.37× | -21.0% |
| FY2016 | -131.0% | 0.27× | 1.34× | -46.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$11.21M
- Cash generatingOperating cash flow above zero-$8.00M
- Return on assets improvedROA up on the prior year-29.6% → -17.3%
- Earnings backed by cashOperating cash flow above net income-$8.00M vs -$11.21M
- Less leverageLong-term debt to assets fell52.3% → 52.1%
- Better liquidityCurrent ratio rose5.26 → 5.00
- No dilutionShare count did not rise36M → 41M
- Gross margin improvedGross margin up on the prior year61.04% → 62.53%
- More efficientAsset turnover rose0.61 → 0.81