WAVESTONE (WAVE.PA) Fundamental Analysis & Valuation
EPA:WAVE • FR0013357621
49 EUR
-0.85 (-1.71%)
Last: Mar 9, 2026, 07:00 PM
This WAVE.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
Overall WAVE gets a fundamental rating of 6 out of 10. We evaluated WAVE against 75 industry peers in the IT Services industry. WAVE has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. WAVE is not valued too expensively and it also shows a decent growth rate. These ratings would make WAVE suitable for quality investing!
1. WAVE.PA Profitability Analysis
1.1 Basic Checks
- In the past year WAVE was profitable.
- In the past year WAVE had a positive cash flow from operations.
- Each year in the past 5 years WAVE has been profitable.
- Each year in the past 5 years WAVE had a positive operating cash flow.
1.2 Ratios
- The Return On Assets of WAVE (8.42%) is better than 85.33% of its industry peers.
- With a Return On Equity value of 12.21%, WAVE perfoms like the industry average, outperforming 54.67% of the companies in the same industry.
- WAVE's Return On Invested Capital of 11.36% is fine compared to the rest of the industry. WAVE outperforms 73.33% 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 11.13%.
| Industry Rank | Sector 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%
1.3 Margins
- The Profit Margin of WAVE (8.33%) is better than 82.67% of its industry peers.
- In the last couple of years the Profit Margin of WAVE has grown nicely.
- 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.
- The Gross Margin of WAVE (85.44%) is better than 78.67% of its industry peers.
- In the last couple of years the Gross Margin of WAVE has declined.
| Industry Rank | Sector 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%
2. WAVE.PA Health Analysis
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), WAVE is creating some value.
- WAVE has less shares outstanding than it did 1 year ago.
- The number of shares outstanding for WAVE has been increased compared to 5 years ago.
- The debt/assets ratio for WAVE has been reduced compared to a year ago.
2.2 Solvency
- WAVE has an Altman-Z score of 4.65. This indicates that WAVE is financially healthy and has little risk of bankruptcy at the moment.
- WAVE's Altman-Z score of 4.65 is amongst the best of the industry. WAVE outperforms 90.67% 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 has a better Debt to FCF ratio (0.39) than 96.00% of its industry peers.
- A Debt/Equity ratio of 0.03 indicates that WAVE is not too dependend on debt financing.
- WAVE has a better Debt to Equity ratio (0.03) than 93.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.03 | ||
| Debt/FCF | 0.39 | ||
| Altman-Z | 4.65 |
ROIC/WACC1.47
WACC7.71%
2.3 Liquidity
- A Current Ratio of 1.37 indicates that WAVE should not have too much problems paying its short term obligations.
- WAVE's Current ratio of 1.37 is fine compared to the rest of the industry. WAVE outperforms 62.67% of its industry peers.
- WAVE has a Quick Ratio of 1.37. This is a normal value and indicates that WAVE is financially healthy and should not expect problems in meeting its short term obligations.
- WAVE has a better Quick ratio (1.37) than 69.33% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.37 | ||
| Quick Ratio | 1.37 |
3. WAVE.PA Growth Analysis
3.1 Past
- The Earnings Per Share has grown by an impressive 22.20% over the past year.
- Measured over the past years, WAVE shows a quite strong growth in Earnings Per Share. The EPS has been growing by 14.55% on average per year.
- WAVE shows a small growth in Revenue. In the last year, the Revenue has grown by 7.00%.
- Measured over the past years, WAVE shows a quite strong growth in Revenue. The Revenue has been growing by 17.46% on average per year.
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 10.89% yearly.
- The Revenue is expected to grow by 3.48% on average over the next years.
EPS Next Y11.13%
EPS Next 2Y11.19%
EPS Next 3Y10.9%
EPS Next 5YN/A
Revenue Next Year1.69%
Revenue Next 2Y2.92%
Revenue Next 3Y3.48%
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.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. WAVE.PA Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 15.22, WAVE is valued correctly.
- Based on the Price/Earnings ratio, WAVE is valued a bit cheaper than the industry average as 68.00% of the companies are valued more expensively.
- WAVE is valuated rather cheaply when we compare the Price/Earnings ratio to 26.46, which is the current average of the S&P500 Index.
- With a Price/Forward Earnings ratio of 12.58, WAVE is valued correctly.
- 62.67% of the companies in the same industry are more expensive than WAVE, based on the Price/Forward Earnings ratio.
- Compared to an average S&P500 Price/Forward Earnings ratio of 24.65, WAVE is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.22 | ||
| Fwd PE | 12.58 |
4.2 Price Multiples
- Based on the Enterprise Value to EBITDA ratio, WAVE is valued a bit more expensive than 60.00% of the companies in the same industry.
- The rest of the industry has a similar Price/Free Cash Flow ratio as WAVE.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.68 | ||
| EV/EBITDA | 9.85 |
4.3 Compensation for Growth
- The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
- WAVE has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.37
PEG (5Y)1.05
EPS Next 2Y11.19%
EPS Next 3Y10.9%
5. WAVE.PA Dividend Analysis
5.1 Amount
- WAVE has a yearly dividend return of 0.76%, which is pretty low.
- WAVE's Dividend Yield is comparable with the industry average which is at 2.56.
- With a Dividend Yield of 0.76, WAVE pays less dividend than the S&P500 average, which is at 1.82.
| Industry Rank | Sector 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
5.3 Sustainability
- WAVE pays out 14.36% of its income as dividend. This is a sustainable payout ratio.
- The dividend of WAVE is growing around the same rate as the earnings are growing. If this keeps up the dividend growth is sustainable.
DP14.36%
EPS Next 2Y11.19%
EPS Next 3Y10.9%
WAVE.PA Fundamentals: All Metrics, Ratios and Statistics
EPA:WAVE (3/9/2026, 7:00:00 PM)
49
-0.85 (-1.71%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)02-02 2026-02-02
Earnings (Next)04-30 2026-04-30
Inst Owners15.97%
Inst Owner ChangeN/A
Ins Owners44.17%
Ins Owner ChangeN/A
Market Cap1.22B
Revenue(TTM)943.94M
Net Income(TTM)78.64M
Analysts83.64
Price Target67.93 (38.63%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector 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)0.91%
PT rev (3m)7.21%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.47%
EPS NY rev (3m)4.82%
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.22 | ||
| Fwd PE | 12.58 | ||
| P/S | 1.29 | ||
| P/FCF | 11.68 | ||
| P/OCF | 11.24 | ||
| P/B | 1.9 | ||
| P/tB | 23.52 | ||
| EV/EBITDA | 9.85 |
EPS(TTM)3.22
EY6.57%
EPS(NY)3.9
Fwd EY7.95%
FCF(TTM)4.19
FCFY8.56%
OCF(TTM)4.36
OCFY8.9%
SpS37.89
BVpS25.86
TBVpS2.08
PEG (NY)1.37
PEG (5Y)1.05
Graham Number43.28
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 | 4.65 |
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 Y11.13%
EPS Next 2Y11.19%
EPS Next 3Y10.9%
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 3Y3.48%
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 4 / 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 15.22 and the Price/Book (PB) ratio is 1.9.
Can you provide the financial health for WAVE stock?
The financial health rating of WAVESTONE (WAVE.PA) is 8 / 10.