WAVESTONE (WAVE.PA) Fundamental Analysis & Valuation

EPA:WAVE • FR0013357621

Current stock price

46.375 EUR
+0.58 (+1.26%)
Last:

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

7

1. WAVE.PA Profitability Analysis

1.1 Basic Checks

  • WAVE had positive earnings in the past year.
  • WAVE had a positive operating cash flow in the past year.
  • In the past 5 years WAVE has always been profitable.
  • Each year in the past 5 years WAVE had a positive operating cash flow.
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

  • Looking at the Return On Assets, with a value of 8.42%, WAVE belongs to the top of the industry, outperforming 88.89% of the companies in the same industry.
  • WAVE has a Return On Equity (12.21%) which is comparable to the rest of the industry.
  • The Return On Invested Capital of WAVE (11.36%) is better than 73.61% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for WAVE is in line with the industry average of 11.51%.
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

  • WAVE has a better Profit Margin (8.33%) than 86.11% of its industry peers.
  • In the last couple of years the Profit Margin of WAVE has grown nicely.
  • The Operating Margin of WAVE (11.74%) is better than 86.11% of its industry peers.
  • WAVE's Operating Margin has declined in the last couple of years.
  • WAVE's Gross Margin of 85.44% is fine compared to the rest of the industry. WAVE outperforms 76.39% of its industry peers.
  • WAVE's Gross Margin has declined in the last couple of years.
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

7

2. WAVE.PA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so WAVE is destroying value.
  • Compared to 1 year ago, WAVE has less shares outstanding
  • The number of shares outstanding for WAVE has been increased compared to 5 years ago.
  • 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 4.44 indicates that WAVE is not in any danger for bankruptcy at the moment.
  • WAVE has a better Altman-Z score (4.44) than 93.06% of its industry peers.
  • The Debt to FCF ratio of WAVE is 0.39, which is an excellent value as it means it would take WAVE, only 0.39 years of fcf income to pay off all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 0.39, WAVE belongs to the top of the industry, outperforming 98.61% of the companies in the same industry.
  • A Debt/Equity ratio of 0.03 indicates that WAVE is not too dependend on debt financing.
  • With an excellent Debt to Equity ratio value of 0.03, WAVE belongs to the best of the industry, outperforming 95.83% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.39
Altman-Z 4.44
ROIC/WACC0.81
WACC14.05%
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

  • WAVE has a Current 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.
  • Looking at the Current ratio, with a value of 1.37, WAVE is in the better half of the industry, outperforming 65.28% of the companies in the same industry.
  • 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 75.00% 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

  • The Earnings Per Share has grown by an impressive 22.20% over the past year.
  • The Earnings Per Share has been growing by 14.55% on average over the past years. This is quite good.
  • 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.
  • WAVE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.48% yearly.
EPS Next Y11.13%
EPS Next 2Y11.19%
EPS Next 3Y10.9%
EPS Next 5YN/A
Revenue Next Year1.67%
Revenue Next 2Y2.92%
Revenue Next 3Y3.48%
Revenue Next 5YN/A

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in 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 14.40.
  • Compared to the rest of the industry, the Price/Earnings ratio of WAVE indicates a somewhat cheap valuation: WAVE is cheaper than 75.00% of the companies listed in the same industry.
  • WAVE is valuated rather cheaply when we compare the Price/Earnings ratio to 26.51, which is the current average of the S&P500 Index.
  • WAVE is valuated reasonably with a Price/Forward Earnings ratio of 11.90.
  • Based on the Price/Forward Earnings ratio, WAVE is valued a bit cheaper than 66.67% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 21.41, WAVE is valued a bit cheaper.
Industry RankSector Rank
PE 14.4
Fwd PE 11.9
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

  • WAVE's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, WAVE is valued a bit cheaper than 66.67% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.06
EV/EBITDA 9.07
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

  • WAVE's 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)1.29
PEG (5Y)0.99
EPS Next 2Y11.19%
EPS Next 3Y10.9%

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

4

5. WAVE.PA Dividend Analysis

5.1 Amount

  • WAVE has a Yearly Dividend Yield of 1.00%. Purely for dividend investing, there may be better candidates out there.
  • The stock price of WAVE dropped by -24.05% in the last 3 months. With lower prices the dividend yield is higher, but it may be a sign investors do not trust the long term dividend.
  • Compared to an average industry Dividend Yield of 2.83, WAVE has a dividend in line with its industry peers.
  • With a Dividend Yield of 1.00, WAVE pays less dividend than the S&P500 average, which is at 1.80.
Industry RankSector Rank
Dividend Yield 1%

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 Years1
Div Non Decr Years4
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

  • WAVE pays out 14.36% of its income as dividend. This is a 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 2Y11.19%
EPS Next 3Y10.9%
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

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Find the best dividend stocksShow peers with best dividend

WAVE.PA Fundamentals: All Metrics, Ratios and Statistics

WAVESTONE

EPA:WAVE (5/4/2026, 10:29:49 AM)

46.375

+0.58 (+1.26%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Industry Strength14.86
Industry Growth41.33
Earnings (Last)02-02
Earnings (Next)06-03
Inst Owners16.52%
Inst Owner ChangeN/A
Ins Owners44.17%
Ins Owner ChangeN/A
Market Cap1.16B
Revenue(TTM)943.94M
Net Income(TTM)78.64M
Analysts83.64
Price Target64.79 (39.71%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1%
Yearly Dividend0.38
Dividend Growth(5Y)10.75%
DP14.36%
Div Incr Years1
Div Non Decr Years4
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)-3.17%
PT rev (3m)2.25%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.47%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.02%
Revenue NY rev (3m)-0.04%
Valuation
Industry RankSector Rank
PE 14.4
Fwd PE 11.9
P/S 1.22
P/FCF 11.06
P/OCF 10.64
P/B 1.79
P/tB 22.26
EV/EBITDA 9.07
EPS(TTM)3.22
EY6.94%
EPS(NY)3.9
Fwd EY8.4%
FCF(TTM)4.19
FCFY9.04%
OCF(TTM)4.36
OCFY9.4%
SpS37.89
BVpS25.86
TBVpS2.08
PEG (NY)1.29
PEG (5Y)0.99
Graham Number43.2812 (-6.67%)
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 4.44
F-Score9
WACC14.05%
ROIC/WACC0.81
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 Year1.67%
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 Fundamental Analysis 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.


What is the profitability of WAVE stock?

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


What is the earnings growth outlook for WAVESTONE?

The Earnings per Share (EPS) of WAVESTONE (WAVE.PA) is expected to grow by 11.13% in the next year.


How sustainable is the dividend of WAVESTONE (WAVE.PA) stock?

The dividend rating of WAVESTONE (WAVE.PA) is 4 / 10 and the dividend payout ratio is 14.36%.