WAVESTONE (WAVE.PA) Fundamental Analysis & Valuation
EPA:WAVE • FR0013357621
48.875 EUR
-0.98 (-1.96%)
Last: Mar 9, 2026, 02:57 PM
This WAVE.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
We assign a fundamental rating of 6 out of 10 to WAVE. WAVE was compared to 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 has a correct valuation and a medium growth rate. This makes WAVE very considerable for quality investing!
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.
- WAVE had positive earnings in each of the past 5 years.
- In the past 5 years WAVE always reported a positive cash flow from operatings.
1.2 Ratios
- The Return On Assets of WAVE (8.42%) is better than 85.33% of its industry peers.
- WAVE's Return On Equity of 12.21% is in line compared to the rest of the industry. WAVE outperforms 54.67% of its industry peers.
- WAVE has a Return On Invested Capital of 11.36%. This is in the better half of the industry: WAVE outperforms 73.33% of its industry peers.
- 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 11.13%.
| 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
- WAVE has a better Profit Margin (8.33%) than 82.67% of its industry peers.
- In the last couple of years the Profit Margin of WAVE has grown nicely.
- WAVE's Operating Margin of 11.74% is amongst the best of the industry. WAVE outperforms 84.00% of its industry peers.
- WAVE's Operating Margin has declined in the last couple of years.
- WAVE has a better Gross Margin (85.44%) than 78.67% of its industry peers.
- WAVE's Gross Margin has declined in the last couple of years.
| 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
- 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
- WAVE has more shares outstanding than it did 5 years ago.
- Compared to 1 year ago, WAVE has an improved debt to assets ratio.
2.2 Solvency
- An Altman-Z score of 4.65 indicates that WAVE is not in any danger for bankruptcy at the moment.
- Looking at the Altman-Z score, with a value of 4.65, WAVE belongs to the top of the industry, outperforming 90.67% of the companies in the same industry.
- 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 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.
- The Debt to Equity ratio of WAVE (0.03) is better 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
WACC7.72%
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.
- A Quick Ratio of 1.37 indicates that WAVE should not have too much problems paying its short term obligations.
- Looking at the Quick ratio, with a value of 1.37, WAVE is in the better half of the industry, outperforming 69.33% of the companies in the same industry.
| 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.
- The Earnings Per Share has been growing by 14.55% on average over the past years. This is quite good.
- Looking at the last year, WAVE shows a small growth in Revenue. The Revenue has grown by 7.00% in the last year.
- 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
- The Earnings Per Share is expected to grow by 10.89% on average over the next years. This is quite good.
- Based on estimates for the next years, WAVE will show a small growth in Revenue. The Revenue will grow by 3.48% on average per year.
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
- Based on the Price/Earnings ratio of 15.18, 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 68.00% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 26.29, WAVE is valued a bit cheaper.
- A Price/Forward Earnings ratio of 12.54 indicates a correct valuation of WAVE.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of WAVE indicates a somewhat cheap valuation: WAVE is cheaper than 62.67% of the companies listed in the same industry.
- WAVE's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 24.60.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.18 | ||
| Fwd PE | 12.54 |
4.2 Price Multiples
- 60.00% 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 in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.65 | ||
| 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)1.36
PEG (5Y)1.04
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.
- Compared to an average S&P500 Dividend Yield of 1.82, WAVE's dividend is way lower than the S&P500 average.
| Industry Rank | Sector 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
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 Fundamentals: All Metrics, Ratios and Statistics
EPA:WAVE (3/9/2026, 2:57:52 PM)
48.875
-0.98 (-1.96%)
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 (38.99%)
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 | 15.18 | ||
| Fwd PE | 12.54 | ||
| P/S | 1.29 | ||
| P/FCF | 11.65 | ||
| P/OCF | 11.21 | ||
| P/B | 1.89 | ||
| P/tB | 23.46 | ||
| EV/EBITDA | 9.85 |
EPS(TTM)3.22
EY6.59%
EPS(NY)3.9
Fwd EY7.97%
FCF(TTM)4.19
FCFY8.58%
OCF(TTM)4.36
OCFY8.92%
SpS37.89
BVpS25.86
TBVpS2.08
PEG (NY)1.36
PEG (5Y)1.04
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
WACC7.72%
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 15.18 and the Price/Book (PB) ratio is 1.89.
Can you provide the financial health for WAVE stock?
The financial health rating of WAVESTONE (WAVE.PA) is 8 / 10.