Apyx Medical (APYX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Apyx Medical

NasdaqGS•Healthcare•Medical Devices

$3.04-0.01(<0.01%)Market open

Market Cap

$132.87M

P/S

2.3x

P/B

12.0x

Apyx Medical Corporation, an energy technology company, designs, develops, manufactures, and sells electrosurgical equipment and medical devices in the United States and internationally. The company operates through two segments: Surgical Aesthetics and Original Equipment Manufacturing (OEM). It offers helium plasma generator for the delivery of RF energy and helium plasma to cut, coagulate, and ablate soft tissue during open and minimally invasive surgical procedures; and a portfolio of single-use handpieces and accessories for open and laparoscopic procedures. The company's helium plasma technology products are marketed and sold under the Renuvion name in the cosmetic surgery market and under the J-Plasma name in the hospital surgical market. It also develops and manufactures OEM generators and related accessories. The company was formerly known as Bovie Medical Corporation and changed its name to Apyx Medical Corporation in January 2019. Apyx Medical Corporation was incorporated in 1982 and is based in Clearwater, Florida.

How this company scores

WeakMetricSide Score: 47/100

Grade capped at D — Interest coverage below 1× (-0.6x) — earnings cannot cover interest. Strongest: Growth (19/25); weakest: Cash & Earnings Quality (6/25).

Profitability14/25

Growth19/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality6/25

Strengths

Growing revenueLong cash runwayProfit converts from growthImproving leverage

Grade capped at D

Interest coverage below 1× (-0.6x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 2.3x5y range 0.7x – 2.8x

Currently above its 20-quarter median.

P/B · 12.0x5y range 0.7x – 14.6x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $132.87M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $58.41M
Q. Revenue: $13.88M
TTM EBITDA: $-2.75M
TTM Op. Income: $-3.54M
Q. Op. Income: $-1.81M
TTM Net Income: $-8.63M
Q. Net Income: $-3.24M
EPS: $-0.07
Shares Out.: $43.85M

$58.41M in TTM revenue grew 25.6% YoY, reaching $13.88M last quarter. TTM EBITDA of $-2.75M and TTM operating income of $-3.54M show growth is flowing through to the bottom line. However, net income is negative at $8.63M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 63.9%
EBITDA Margin: -11.6%
Op. Margin: -13.0%
Net Margin: -23.4%

Op. margin of -13.0% is up 9.6% YoY — cost efficiency is improving. Net margin at -23.4% and gross margin of 63.9% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.3x
P/B Ratio: 12.0x

P/S of 2.3x and P/B of 12.0x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $61.07M
Cash: $27.62M
Long-Term Debt: $35.33M
Book Value: $11.09M
D/E Ratio: 3.2
Debt/EBITDA: N/A

With $61.07M in assets and $35.33M in long-term debt, D/E is 3.2and book value is $11.09M — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-3.49M
TTM Free Cash Flow: $-11.05M
FCF Margin: -18.9%
FCF / Net Income: 1.3

TTM FCF of $-11.05M on $-3.49M in operating cash flow. The FCF / Net Income ratio of 1.3x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 10% — a weakening trend.