BrainsWay stock: fair value
BWAYThe fair value of BrainsWay under our model is $12.05, the price is 15% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Fairly valuedIn our model the price counts as cheap below $8.61 and expensive above $20.08 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $18.12 (cash-flow model) and $5.98 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 10.4%. At 11.4% the fair value would be $10.72, at 9.4% it would be $13.87.
Where the number comes from
Half from the cash-flow model, half from earnings times the sector P/E (26.8).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 3.8%. Discounted at 10.4% (government bond yield 3.8% plus beta 1.04 times a risk premium of 6.3%); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $18.12 per share: free cash flow for the next ten years, each year discounted to today at 10.4%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 10.4%) |
|---|---|---|---|---|
| 2026 | $23.62M | extrapolated at 52.2% | 0.9060 | $21.4M |
| 2027 | $32.52M | extrapolated at 37.7% | 0.8209 | $26.7M |
| 2028 | $41.48M | extrapolated at 27.5% | 0.7437 | $30.85M |
| 2029 | $49.95M | extrapolated at 20.4% | 0.6738 | $33.66M |
| 2030 | $57.67M | extrapolated at 15.5% | 0.6105 | $35.21M |
| 2031 | $64.57M | extrapolated at 12.0% | 0.5531 | $35.71M |
| 2032 | $70.72M | extrapolated at 9.5% | 0.5011 | $35.44M |
| 2033 | $76.24M | extrapolated at 7.8% | 0.4540 | $34.62M |
| 2034 | $81.29M | extrapolated at 6.6% | 0.4114 | $33.44M |
| 2035 | $85.99M | extrapolated at 5.8% | 0.3727 | $32.05M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $319.06M |
| Terminal value: cash flow 2035 × (1 + 3.8%) / (10.4% − 3.8%) | $1.36B |
| Present value of terminal value (× 0.3727) | $508.55M |
| Equity value (sum plus present value of terminal value) | $827.61M |
| Shares (diluted) | 22.22M |
| Value per share (equity value divided by shares) | $37.25 |
| Per share as traded (converted ÷ 2.06) | $18.12 |
| Earnings per share, last twelve months | $0.22 |
| × 26.8 (sector P/E) | $5.98 |
| Fair value (average of both parts) | $12.05 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 18 Oct 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.