WAVESTONE (WAVE.PA) Fundamental Analysis & Valuation
EPA:WAVE • FR0013357621
Current stock price
46.55 EUR
+1.35 (+2.99%)
Last:
This WAVE.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
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
- With an excellent Return On Assets value of 8.42%, WAVE belongs to the best of the industry, outperforming 84.00% of the companies in the same industry.
- WAVE has a Return On Equity of 12.21%. This is comparable to the rest of the industry: WAVE outperforms 53.33% of 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 70.67% of the companies in the same industry.
- The Average Return On Invested Capital over the past 3 years for WAVE is significantly below the industry average of 27.67%.
| 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 80.00% 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 in the better half of the industry: WAVE outperforms 80.00% of its industry peers.
- In the last couple of years the Operating Margin of WAVE has declined.
- WAVE has a better Gross Margin (85.44%) than 77.33% 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.
- The number of shares outstanding for WAVE has been reduced compared to 1 year ago.
- Compared to 5 years ago, WAVE has more shares outstanding
- Compared to 1 year ago, WAVE has an improved debt to assets ratio.
2.2 Solvency
- An Altman-Z score of 4.48 indicates that WAVE is not in any danger for bankruptcy at the moment.
- Looking at the Altman-Z score, with a value of 4.48, WAVE belongs to the top of the industry, outperforming 90.67% 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.
- Looking at the Debt to FCF ratio, with a value of 0.39, WAVE belongs to the top of the industry, outperforming 96.00% of the companies in the same industry.
- 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 | 4.48 |
ROIC/WACC1.5
WACC7.57%
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 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.
- Looking at the Quick ratio, with a value of 1.37, WAVE is in the better half of the industry, outperforming 70.67% 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
- WAVE shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 22.20%, which is quite impressive.
- 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
- The Earnings Per Share is expected to grow by 10.89% on average over the next years. This is quite good.
- 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 14.46, WAVE is valued correctly.
- Based on the Price/Earnings ratio, WAVE is valued a bit cheaper than the industry average as 69.33% of the companies are valued more expensively.
- The average S&P500 Price/Earnings ratio is at 26.86. WAVE is valued slightly cheaper when compared to this.
- With a Price/Forward Earnings ratio of 11.95, the valuation of WAVE can be described as very reasonable.
- 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 is valuated cheaply when we compare the Price/Forward Earnings ratio to 37.39, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.46 | ||
| Fwd PE | 11.95 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of WAVE indicates a slightly more expensive valuation: WAVE is more expensive than 60.00% of the companies listed in the same industry.
- Based on the Price/Free Cash Flow ratio, WAVE is valued a bit cheaper than the industry average as 62.67% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.1 | ||
| EV/EBITDA | 9.22 |
4.3 Compensation for Growth
- WAVE's 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)1.3
PEG (5Y)0.99
EPS Next 2Y11.19%
EPS Next 3Y10.9%
5. WAVE.PA Dividend Analysis
5.1 Amount
- WAVE has a Yearly Dividend Yield of 1.02%.
- Compared to an average industry Dividend Yield of 2.80, WAVE is paying slightly less dividend.
- 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 | 1.02% |
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 Years1
Div Non Decr Years4
5.3 Sustainability
- 14.36% of the earnings are spent on dividend by WAVE. This is a low number and 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 (4/10/2026, 7:00:00 PM)
46.55
+1.35 (+2.99%)
Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupSoftware & Services
GICS IndustryIT Services
Earnings (Last)02-02 2026-02-02
Earnings (Next)06-03 2026-06-03
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 Target66.91 (43.74%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.02% |
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)-1.5%
PT rev (3m)5.6%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 14.46 | ||
| Fwd PE | 11.95 | ||
| P/S | 1.23 | ||
| P/FCF | 11.1 | ||
| P/OCF | 10.68 | ||
| P/B | 1.8 | ||
| P/tB | 22.35 | ||
| EV/EBITDA | 9.22 |
EPS(TTM)3.22
EY6.92%
EPS(NY)3.9
Fwd EY8.37%
FCF(TTM)4.19
FCFY9.01%
OCF(TTM)4.36
OCFY9.36%
SpS37.89
BVpS25.86
TBVpS2.08
PEG (NY)1.3
PEG (5Y)0.99
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 | 4.48 |
F-Score9
WACC7.57%
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 6 / 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 6 / 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%.