WAVESTONE (WAVE.PA) Fundamental Analysis & Valuation

EPA:WAVE • FR0013357621

49.75 EUR
+0.8 (+1.63%)
Last: Mar 6, 2026, 02:58 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

6

Taking everything into account, WAVE scores 6 out of 10 in our fundamental rating. WAVE was compared to 75 industry peers in the IT Services industry. WAVE gets an excellent profitability rating and is at the same time showing great financial health properties. WAVE has a correct valuation and a medium growth rate. These ratings would make WAVE suitable for quality investing!


Dividend Valuation Growth Profitability Health

7

1. WAVE.PA Profitability Analysis

1.1 Basic Checks

  • WAVE had positive earnings in the past year.
  • In the past year WAVE had a positive cash flow from operations.
  • WAVE had positive earnings in each of the past 5 years.
  • WAVE had a positive operating cash flow in each of the past 5 years.
WAVE.PA Yearly Net Income VS EBIT VS OCF VS FCFWAVE.PA 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 2025 20M 40M 60M 80M 100M

1.2 Ratios

  • WAVE's Return On Assets of 8.42% is amongst the best of the industry. WAVE outperforms 85.33% of its industry peers.
  • WAVE has a Return On Equity of 12.21%. This is comparable to the rest of the industry: WAVE outperforms 49.33% of its industry peers.
  • The Return On Invested Capital of WAVE (11.36%) is better than 72.00% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for WAVE is in line with the industry average of 11.55%.
Industry RankSector Rank
ROA 8.42%
ROE 12.21%
ROIC 11.36%
ROA(3y)7.66%
ROA(5y)7.8%
ROE(3y)12.97%
ROE(5y)14.22%
ROIC(3y)11.44%
ROIC(5y)12.28%
WAVE.PA Yearly ROA, ROE, ROICWAVE.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • With an excellent Profit Margin value of 8.33%, WAVE belongs to the best of the industry, outperforming 82.67% of the companies in the same industry.
  • WAVE's Profit Margin has improved in the last couple of years.
  • Looking at the Operating Margin, with a value of 11.74%, WAVE belongs to the top of the industry, outperforming 84.00% of the companies in the same industry.
  • In the last couple of years the Operating Margin of WAVE has declined.
  • With a decent Gross Margin value of 85.44%, WAVE is doing good in the industry, outperforming 78.67% of the companies in the same industry.
  • In the last couple of years the Gross Margin of WAVE has declined.
Industry RankSector Rank
OM 11.74%
PM (TTM) 8.33%
GM 85.44%
OM growth 3Y-9.16%
OM growth 5Y-1.75%
PM growth 3Y-9.65%
PM growth 5Y1.65%
GM growth 3Y-4.64%
GM growth 5Y-2.67%
WAVE.PA Yearly Profit, Operating, Gross MarginsWAVE.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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ROAROEROICOperating and Profit MarginShow most profitable peers

8

2. WAVE.PA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so WAVE is still creating some value.
  • Compared to 1 year ago, WAVE has less shares outstanding
  • Compared to 5 years ago, WAVE has more shares outstanding
  • WAVE has a better debt/assets ratio than last year.
WAVE.PA Yearly Shares OutstandingWAVE.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M 20M
WAVE.PA Yearly Total Debt VS Total AssetsWAVE.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

2.2 Solvency

  • An Altman-Z score of 4.60 indicates that WAVE is not in any danger for bankruptcy at the moment.
  • WAVE's Altman-Z score of 4.60 is amongst the best of the industry. WAVE outperforms 92.00% of its industry peers.
  • WAVE has a debt to FCF ratio of 0.39. This is a very positive value and a sign of high solvency as it would only need 0.39 years to pay back of all of its debts.
  • WAVE's Debt to FCF ratio of 0.39 is amongst the best of the industry. WAVE outperforms 96.00% of its industry peers.
  • WAVE has a Debt/Equity ratio of 0.03. This is a healthy value indicating a solid balance between debt and equity.
  • WAVE has a better Debt to Equity ratio (0.03) than 93.33% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.39
Altman-Z 4.6
ROIC/WACC1.47
WACC7.71%
WAVE.PA Yearly LT Debt VS Equity VS FCFWAVE.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M

2.3 Liquidity

  • A Current Ratio of 1.37 indicates that WAVE should not have too much problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 1.37, WAVE is in the better half of the industry, outperforming 64.00% of the companies in the same industry.
  • A Quick Ratio of 1.37 indicates that WAVE should not have too much problems paying its short term obligations.
  • WAVE has a Quick ratio of 1.37. This is in the better half of the industry: WAVE outperforms 70.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.37
Quick Ratio 1.37
WAVE.PA Yearly Current Assets VS Current LiabilitesWAVE.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M

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

5

3. WAVE.PA Growth Analysis

3.1 Past

  • WAVE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 22.20%, which is quite impressive.
  • WAVE shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.55% yearly.
  • WAVE shows a small growth in Revenue. In the last year, the Revenue has grown by 7.00%.
  • WAVE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 17.46% yearly.
EPS 1Y (TTM)22.2%
EPS 3Y6.62%
EPS 5Y14.55%
EPS Q2Q%11.64%
Revenue 1Y (TTM)7%
Revenue growth 3Y26.15%
Revenue growth 5Y17.46%
Sales Q2Q%0.06%

3.2 Future

  • WAVE is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 11.42% yearly.
  • WAVE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.67% yearly.
EPS Next Y10.61%
EPS Next 2Y11.85%
EPS Next 3Y11.42%
EPS Next 5YN/A
Revenue Next Year1.69%
Revenue Next 2Y2.92%
Revenue Next 3Y3.67%
Revenue Next 5YN/A

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
  • 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.
WAVE.PA Yearly Revenue VS EstimatesWAVE.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 200M 400M 600M 800M 1B
WAVE.PA Yearly EPS VS EstimatesWAVE.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 1 2 3 4

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Find the best growth stocksShow best growing peers

5

4. WAVE.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • WAVE is valuated correctly with a Price/Earnings ratio of 15.45.
  • Based on the Price/Earnings ratio, WAVE is valued a bit cheaper than 64.00% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 26.69, WAVE is valued a bit cheaper.
  • With a Price/Forward Earnings ratio of 12.62, WAVE is valued correctly.
  • Based on the Price/Forward Earnings ratio, WAVE is valued a bit cheaper than the industry average as 61.33% of the companies are valued more expensively.
  • When comparing the Price/Forward Earnings ratio of WAVE to the average of the S&P500 Index (24.79), we can say WAVE is valued slightly cheaper.
Industry RankSector Rank
PE 15.45
Fwd PE 12.62
WAVE.PA Price Earnings VS Forward Price EarningsWAVE.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 61.33% of the companies in the same industry are cheaper than WAVE, based on the Enterprise Value to EBITDA ratio.
  • WAVE's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. WAVE is cheaper than 61.33% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.86
EV/EBITDA 9.68
WAVE.PA Per share dataWAVE.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The decent profitability rating of WAVE may justify a higher PE ratio.
PEG (NY)1.46
PEG (5Y)1.06
EPS Next 2Y11.85%
EPS Next 3Y11.42%

More info and screens

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

4

5. WAVE.PA Dividend Analysis

5.1 Amount

  • With a yearly dividend of 0.76%, WAVE is not a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 2.39, WAVE has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, WAVE's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.76%

5.2 History

  • The dividend of WAVE is nicely growing with an annual growth rate of 10.75%!
Dividend Growth(5Y)10.75%
Div Incr Years0
Div Non Decr Years3
WAVE.PA Yearly Dividends per shareWAVE.PA Yearly Dividends per shareYearly Dividends per share 2019 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4

5.3 Sustainability

  • 14.36% of the earnings are spent on dividend by WAVE. This is a low number and sustainable payout ratio.
  • WAVE's earnings are growing around the same pace than its dividend. As long as the earnings growth is kept the dividend growth is sustainable.
DP14.36%
EPS Next 2Y11.85%
EPS Next 3Y11.42%
WAVE.PA Yearly Income VS Free CF VS DividendWAVE.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20M 40M 60M 80M
WAVE.PA Dividend Payout.WAVE.PA Dividend Payout, showing the Payout Ratio.WAVE.PA Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

WAVE.PA Fundamentals: All Metrics, Ratios and Statistics

WAVESTONE

EPA:WAVE (3/6/2026, 2:58:56 PM)

49.75

+0.8 (+1.63%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)02-02
Earnings (Next)04-30
Inst Owners15.79%
Inst Owner ChangeN/A
Ins Owners44.17%
Ins Owner ChangeN/A
Market Cap1.24B
Revenue(TTM)943.94M
Net Income(TTM)78.64M
Analysts83.64
Price Target67.93 (36.54%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0.76%
Yearly Dividend0.38
Dividend Growth(5Y)10.75%
DP14.36%
Div Incr Years0
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)7.21%
PT rev (3m)10.82%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)4.33%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)0.45%
Valuation
Industry RankSector Rank
PE 15.45
Fwd PE 12.62
P/S 1.31
P/FCF 11.86
P/OCF 11.41
P/B 1.92
P/tB 23.88
EV/EBITDA 9.68
EPS(TTM)3.22
EY6.47%
EPS(NY)3.94
Fwd EY7.93%
FCF(TTM)4.19
FCFY8.43%
OCF(TTM)4.36
OCFY8.76%
SpS37.89
BVpS25.86
TBVpS2.08
PEG (NY)1.46
PEG (5Y)1.06
Graham Number43.28
Profitability
Industry RankSector Rank
ROA 8.42%
ROE 12.21%
ROCE 15.59%
ROIC 11.36%
ROICexc 11.36%
ROICexgc 68.23%
OM 11.74%
PM (TTM) 8.33%
GM 85.44%
FCFM 11.07%
ROA(3y)7.66%
ROA(5y)7.8%
ROE(3y)12.97%
ROE(5y)14.22%
ROIC(3y)11.44%
ROIC(5y)12.28%
ROICexc(3y)13%
ROICexc(5y)22.97%
ROICexgc(3y)170.44%
ROICexgc(5y)N/A
ROCE(3y)15.72%
ROCE(5y)16.86%
ROICexgc growth 3YN/A
ROICexgc growth 5Y-18.03%
ROICexc growth 3Y-39.81%
ROICexc growth 5Y-10.07%
OM growth 3Y-9.16%
OM growth 5Y-1.75%
PM growth 3Y-9.65%
PM growth 5Y1.65%
GM growth 3Y-4.64%
GM growth 5Y-2.67%
F-Score9
Asset Turnover1.01
Health
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.39
Debt/EBITDA 0.13
Cap/Depr 21.21%
Cap/Sales 0.43%
Interest Coverage 95.53
Cash Conversion 83.42%
Profit Quality 132.85%
Current Ratio 1.37
Quick Ratio 1.37
Altman-Z 4.6
F-Score9
WACC7.71%
ROIC/WACC1.47
Cap/Depr(3y)28.68%
Cap/Depr(5y)20.92%
Cap/Sales(3y)0.55%
Cap/Sales(5y)0.39%
Profit Quality(3y)107.99%
Profit Quality(5y)141.92%
High Growth Momentum
Growth
EPS 1Y (TTM)22.2%
EPS 3Y6.62%
EPS 5Y14.55%
EPS Q2Q%11.64%
EPS Next Y10.61%
EPS Next 2Y11.85%
EPS Next 3Y11.42%
EPS Next 5YN/A
Revenue 1Y (TTM)7%
Revenue growth 3Y26.15%
Revenue growth 5Y17.46%
Sales Q2Q%0.06%
Revenue Next Year1.69%
Revenue Next 2Y2.92%
Revenue Next 3Y3.67%
Revenue Next 5YN/A
EBIT growth 1Y17.7%
EBIT growth 3Y14.59%
EBIT growth 5Y15.41%
EBIT Next Year21.89%
EBIT Next 3Y14.11%
EBIT Next 5YN/A
FCF growth 1Y93%
FCF growth 3Y14.75%
FCF growth 5Y10.08%
OCF growth 1Y87.14%
OCF growth 3Y16.59%
OCF growth 5Y10.05%

WAVESTONE / WAVE.PA FAQ

What is the ChartMill fundamental rating of WAVESTONE (WAVE.PA) stock?

ChartMill assigns a fundamental rating of 6 / 10 to WAVE.PA.


Can you provide the valuation status for WAVESTONE?

ChartMill assigns a valuation rating of 5 / 10 to WAVESTONE (WAVE.PA). This can be considered as Fairly Valued.


Can you provide the profitability details for WAVESTONE?

WAVESTONE (WAVE.PA) has a profitability rating of 7 / 10.


What are the PE and PB ratios of WAVESTONE (WAVE.PA) stock?

The Price/Earnings (PE) ratio for WAVESTONE (WAVE.PA) is 15.45 and the Price/Book (PB) ratio is 1.92.


Can you provide the financial health for WAVE stock?

The financial health rating of WAVESTONE (WAVE.PA) is 8 / 10.