WAVESTONE (WAVE.PA) Fundamental Analysis & Valuation

EPA:WAVE • FR0013357621

Current stock price

45.9 EUR
+1.1 (+2.46%)
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.
  • In the past year WAVE had a positive cash flow from operations.
  • Each year in the past 5 years WAVE has been profitable.
  • 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

  • Looking at the Return On Assets, with a value of 8.42%, WAVE belongs to the top of the industry, outperforming 87.67% of the companies in the same industry.
  • Looking at the Return On Equity, with a value of 12.21%, WAVE is in line with its industry, outperforming 56.16% of the companies in the same industry.
  • With a decent Return On Invested Capital value of 11.36%, WAVE is doing good in the industry, outperforming 72.60% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for WAVE is in line with the industry average of 12.04%.
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's Profit Margin of 8.33% is amongst the best of the industry. WAVE outperforms 84.93% of its industry peers.
  • In the last couple of years the Profit Margin of WAVE has grown nicely.
  • WAVE has a Operating Margin of 11.74%. This is amongst the best in the industry. WAVE outperforms 84.93% of its industry peers.
  • In the last couple of years the Operating Margin of WAVE has declined.
  • WAVE has a Gross Margin of 85.44%. This is in the better half of the industry: WAVE outperforms 78.08% of its industry peers.
  • 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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8

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.
  • Compared to 1 year ago, WAVE has less shares outstanding
  • WAVE has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, WAVE has an improved debt to assets ratio.
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

  • WAVE has an Altman-Z score of 4.39. This indicates that WAVE is financially healthy and has little risk of bankruptcy at the moment.
  • WAVE has a Altman-Z score of 4.39. This is amongst the best in the industry. WAVE outperforms 89.04% 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.
  • WAVE's Debt to FCF ratio of 0.39 is amongst the best of the industry. WAVE outperforms 94.52% 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.
  • The Debt to Equity ratio of WAVE (0.03) is better than 91.78% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.03
Debt/FCF 0.39
Altman-Z 4.39
ROIC/WACC1.5
WACC7.56%
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.
  • WAVE has a Current ratio of 1.37. This is in the better half of the industry: WAVE outperforms 64.38% 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.
  • The Quick ratio of WAVE (1.37) is better than 72.60% 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.
  • 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.
  • Looking at the last year, WAVE shows a small growth in Revenue. The Revenue has grown by 7.00% in the last year.
  • 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

  • Based on estimates for the next years, WAVE will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.89% on average per year.
  • 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 Year1.69%
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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5

4. WAVE.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • WAVE is valuated correctly with a Price/Earnings ratio of 14.25.
  • 67.12% of the companies in the same industry are more expensive than WAVE, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 25.35, WAVE is valued a bit cheaper.
  • With a Price/Forward Earnings ratio of 11.78, the valuation of WAVE can be described as very reasonable.
  • Based on the Price/Forward Earnings ratio, WAVE is valued a bit cheaper than 63.01% of the companies in the same industry.
  • WAVE's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 22.61.
Industry RankSector Rank
PE 14.25
Fwd PE 11.78
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as WAVE.
  • Based on the Price/Free Cash Flow ratio, WAVE is valued a bit cheaper than 64.38% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.94
EV/EBITDA 8.88
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)1.28
PEG (5Y)0.98
EPS Next 2Y11.19%
EPS Next 3Y10.9%

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

3

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 slightly below the industry average, which is at 2.90.
  • Compared to an average S&P500 Dividend Yield of 1.89, WAVE's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 0.76%

5.2 History

  • On average, the dividend of WAVE grows each year by 10.75%, which is quite nice.
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

  • 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

More info and screens

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WAVE.PA Fundamentals: All Metrics, Ratios and Statistics

WAVESTONE

EPA:WAVE (3/31/2026, 7:00:00 PM)

45.9

+1.1 (+2.46%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)02-02
Earnings (Next)04-30
Inst Owners15.97%
Inst Owner ChangeN/A
Ins Owners44.17%
Ins Owner ChangeN/A
Market Cap1.14B
Revenue(TTM)943.94M
Net Income(TTM)78.64M
Analysts83.64
Price Target66.91 (45.77%)
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)-0.61%
PT rev (3m)5.6%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.47%
EPS NY rev (3m)2.02%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.02%
Valuation
Industry RankSector Rank
PE 14.25
Fwd PE 11.78
P/S 1.21
P/FCF 10.94
P/OCF 10.53
P/B 1.78
P/tB 22.03
EV/EBITDA 8.88
EPS(TTM)3.22
EY7.02%
EPS(NY)3.9
Fwd EY8.49%
FCF(TTM)4.19
FCFY9.14%
OCF(TTM)4.36
OCFY9.5%
SpS37.89
BVpS25.86
TBVpS2.08
PEG (NY)1.28
PEG (5Y)0.98
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 4.39
F-Score9
WACC7.56%
ROIC/WACC1.5
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 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 3 / 10 and the dividend payout ratio is 14.36%.