Byrna currently trades at $23.50 and has been a dream stock for shareholders. It’s returned 460% since May 2020, blowing past the S&P 500’s 97.3% gain. The company has also beaten the index over the past six months as its stock price is up 10.3% thanks to its solid quarterly results.
Is now still a good time to buy BYRN? Or is this a case of a company fueled by heightened investor enthusiasm? Find out in our full research report, it’s free.
Why Is Byrna a Good Business?
Providing civilians with tools to disable, disarm, and deter would-be assailants, Byrna (NASDAQ: BYRN) is a provider of non-lethal weapons.
1. Skyrocketing Revenue Shows Strong Momentum
Examining a company’s long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Thankfully, Byrna’s 146% annualized revenue growth over the last five years was incredible. Its growth surpassed the average industrials company and shows its offerings resonate with customers. 
2. Outstanding Long-Term EPS Growth
Analyzing the long-term change in earnings per share (EPS) shows whether a company's incremental sales were profitable – for example, revenue could be inflated through excessive spending on advertising and promotions.
Byrna’s full-year EPS flipped from negative to positive over the last five years. This is a good sign and shows it’s at an inflection point.
3. Increasing Free Cash Flow Margin Juices Financials
Free cash flow isn't a prominently featured metric in company financials and earnings releases, but we think it's telling because it accounts for all operating and capital expenses, making it tough to manipulate. Cash is king.
As you can see below, Byrna’s margin expanded by 14.3 percentage points over the last five years. Byrna’s free cash flow margin for the trailing 12 months was breakeven.
Final Judgment
These are just a few reasons why we think Byrna is a great business, and with its shares outperforming the market lately, the stock trades at 37.3× forward EV-to-EBITDA (or $23.50 per share). Is now the time to initiate a position? See for yourself in our in-depth research report, it’s free.
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