WAVESTONE (WAVE.PA) Stock Fundamental Analysis

EPA:WAVE • FR0013357621

47.4 EUR
+0.8 (+1.72%)
Last: Feb 20, 2026, 05:29 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

WAVE gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 71 industry peers in the IT Services industry. Both the health and profitability get an excellent rating, making WAVE a very profitable company, without any liquidiy or solvency issues. WAVE has a correct valuation and a medium growth rate. With these ratings, WAVE could be worth investigating further for quality investing!.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • WAVE had positive earnings in the past year.
  • In the past year WAVE had a positive cash flow from operations.
  • Each year in the past 5 years WAVE has been profitable.
  • In the past 5 years WAVE always reported a positive cash flow from operatings.
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 84.51% of its industry peers.
  • WAVE has a Return On Equity (12.21%) which is in line with its industry peers.
  • Looking at the Return On Invested Capital, with a value of 11.36%, WAVE is in the better half of the industry, outperforming 73.24% of the companies in the same industry.
  • WAVE had an Average Return On Invested Capital over the past 3 years of 11.44%. This is in line with the industry average of 11.09%.
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

  • Looking at the Profit Margin, with a value of 8.33%, WAVE belongs to the top of the industry, outperforming 81.69% of the companies in the same industry.
  • 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 83.10% 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 77.46% 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

8

2. Health

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
  • The debt/assets ratio for WAVE has been reduced compared to a year ago.
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 4.48 indicates that WAVE is not in any danger for bankruptcy at the moment.
  • With an excellent Altman-Z score value of 4.48, WAVE belongs to the best of the industry, outperforming 90.14% of the companies in the same industry.
  • 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.
  • The Debt to FCF ratio of WAVE (0.39) is better than 97.18% of its industry peers.
  • 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 95.77% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.39
Altman-Z 4.48
ROIC/WACC1.47
WACC7.73%
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.
  • WAVE has a Current ratio of 1.37. This is in the better half of the industry: WAVE outperforms 61.97% 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 Quick ratio of 1.37. This is in the better half of the industry: WAVE outperforms 69.01% 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. Growth

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%.
  • The Revenue has been growing by 17.46% on average over the past years. This is quite good.
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

  • Based on estimates for the next years, WAVE will show a quite strong growth in Earnings Per Share. The EPS will grow by 11.42% on average per year.
  • 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 Year1.71%
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.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 14.72, the valuation of WAVE can be described as correct.
  • Compared to the rest of the industry, the Price/Earnings ratio of WAVE indicates a somewhat cheap valuation: WAVE is cheaper than 69.01% of the companies listed in the same industry.
  • The average S&P500 Price/Earnings ratio is at 27.09. WAVE is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 12.02, the valuation of WAVE can be described as correct.
  • WAVE's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. WAVE is cheaper than 66.20% of the companies in the same industry.
  • WAVE's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.98.
Industry RankSector Rank
PE 14.72
Fwd PE 12.02
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 is on the same level as the industry average.
  • WAVE's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. WAVE is cheaper than 61.97% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11.3
EV/EBITDA 9.23
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.
  • WAVE has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.39
PEG (5Y)1.01
EPS Next 2Y11.85%
EPS Next 3Y11.42%

More info and screens

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

3

5. Dividend

5.1 Amount

  • WAVE has a yearly dividend return of 0.76%, which is pretty low.
  • WAVE's Dividend Yield is slightly below the industry average, which is at 2.64.
  • Compared to an average S&P500 Dividend Yield of 1.85, 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.
  • 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 2Y11.85%
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

WAVESTONE

EPA:WAVE (2/20/2026, 5:29:55 PM)

47.4

+0.8 (+1.72%)

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 Cap1.18B
Revenue(TTM)943.94M
Net Income(TTM)78.64M
Analysts83.64
Price Target67.32 (42.03%)
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)6.25%
PT rev (3m)3.22%
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%
Revenue NY rev (3m)0.47%
Valuation
Industry RankSector Rank
PE 14.72
Fwd PE 12.02
P/S 1.25
P/FCF 11.3
P/OCF 10.87
P/B 1.83
P/tB 22.75
EV/EBITDA 9.23
EPS(TTM)3.22
EY6.79%
EPS(NY)3.94
Fwd EY8.32%
FCF(TTM)4.19
FCFY8.85%
OCF(TTM)4.36
OCFY9.2%
SpS37.89
BVpS25.86
TBVpS2.08
PEG (NY)1.39
PEG (5Y)1.01
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 4.48
F-Score9
WACC7.73%
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 Year1.71%
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 Year23.85%
EBIT Next 3Y14.66%
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 14.72 and the Price/Book (PB) ratio is 1.83.


Can you provide the financial health for WAVE stock?

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