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ECO WAVE POWER GLOBAL AB-ADR (WAVE) Stock Fundamental Analysis

NASDAQ:WAVE - US27900N1037 - ADR

8.39 USD
+1.38 (+19.65%)
Last: 8/26/2025, 8:07:25 PM
8.0901 USD
-0.3 (-3.57%)
After Hours: 8/26/2025, 8:07:25 PM
Fundamental Rating

3

Overall WAVE gets a fundamental rating of 3 out of 10. We evaluated WAVE against 19 industry peers in the Independent Power and Renewable Electricity Producers industry. The financial health of WAVE is average, but there are quite some concerns on its profitability. WAVE is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year WAVE has reported negative net income.
WAVE had a negative operating cash flow in the past year.
In the past 5 years WAVE always reported negative net income.
In the past 5 years WAVE always reported negative operating cash flow.
WAVE Yearly Net Income VS EBIT VS OCF VS FCFWAVE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 -5M -10M -15M -20M

1.2 Ratios

WAVE's Return On Assets of -19.44% is on the low side compared to the rest of the industry. WAVE is outperformed by 84.21% of its industry peers.
The Return On Equity of WAVE (-24.56%) is worse than 73.68% of its industry peers.
Industry RankSector Rank
ROA -19.44%
ROE -24.56%
ROIC N/A
ROA(3y)-20.29%
ROA(5y)-18.47%
ROE(3y)-25.15%
ROE(5y)-22.36%
ROIC(3y)N/A
ROIC(5y)N/A
WAVE Yearly ROA, ROE, ROICWAVE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50 100 150

1.3 Margins

Looking at the Gross Margin, with a value of 75.00%, WAVE belongs to the top of the industry, outperforming 89.47% of the companies in the same industry.
In the last couple of years the Gross Margin of WAVE has grown nicely.
WAVE does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 75%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y79.8%
GM growth 5YN/A
WAVE Yearly Profit, Operating, Gross MarginsWAVE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 2024 0 -2K -4K -6K -8K -10K

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6

2. Health

2.1 Basic Checks

WAVE does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, WAVE has a worse debt to assets ratio.
WAVE Yearly Shares OutstandingWAVE Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 1M 2M 3M 4M 5M
WAVE Yearly Total Debt VS Total AssetsWAVE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

2.2 Solvency

WAVE has an Altman-Z score of 9.19. This indicates that WAVE is financially healthy and has little risk of bankruptcy at the moment.
WAVE has a better Altman-Z score (9.19) than 100.00% of its industry peers.
WAVE has a Debt/Equity ratio of 0.02. This is a healthy value indicating a solid balance between debt and equity.
WAVE has a better Debt to Equity ratio (0.02) than 94.74% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF N/A
Altman-Z 9.19
ROIC/WACCN/A
WACC6.98%
WAVE Yearly LT Debt VS Equity VS FCFWAVE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M 60M 80M 100M

2.3 Liquidity

WAVE has a Current Ratio of 4.22. This indicates that WAVE is financially healthy and has no problem in meeting its short term obligations.
WAVE has a better Current ratio (4.22) than 89.47% of its industry peers.
WAVE has a Quick Ratio of 4.22. This indicates that WAVE is financially healthy and has no problem in meeting its short term obligations.
With an excellent Quick ratio value of 4.22, WAVE belongs to the best of the industry, outperforming 89.47% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 4.22
Quick Ratio 4.22
WAVE Yearly Current Assets VS Current LiabilitesWAVE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M

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5

3. Growth

3.1 Past

The earnings per share for WAVE have decreased strongly by -33.14% in the last year.
WAVE shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -45.10%.
WAVE shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 75.65% yearly.
EPS 1Y (TTM)-33.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-18%
Revenue 1Y (TTM)-45.1%
Revenue growth 3Y75.65%
Revenue growth 5YN/A
Sales Q2Q%-39.78%

3.2 Future

Based on estimates for the next years, WAVE will show a very negative growth in Earnings Per Share. The EPS will decrease by -266.06% on average per year.
WAVE is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 409.90% yearly.
EPS Next Y-900%
EPS Next 2Y-266.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year1300%
Revenue Next 2Y409.9%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
WAVE Yearly Revenue VS EstimatesWAVE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2021 2022 2023 2024 2025 2026 200K 400K 600K 800K 1M
WAVE Yearly EPS VS EstimatesWAVE Yearly EPS VS EstimatesYearly EPS VS Estimates 2024 2025 2026 -0.2 -0.4 -0.6

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0

4. Valuation

4.1 Price/Earnings Ratio

WAVE reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year WAVE is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
WAVE Price Earnings VS Forward Price EarningsWAVE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 100 150 200

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
WAVE Per share dataWAVE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 1

4.3 Compensation for Growth

WAVE's earnings are expected to decrease with -266.06% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-266.06%
EPS Next 3YN/A

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0

5. Dividend

5.1 Amount

WAVE does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ECO WAVE POWER GLOBAL AB-ADR

NASDAQ:WAVE (8/26/2025, 8:07:25 PM)

After market: 8.0901 -0.3 (-3.57%)

8.39

+1.38 (+19.65%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryIndependent Power and Renewable Electricity Producers
Earnings (Last)08-14 2025-08-14
Earnings (Next)11-03 2025-11-03
Inst Owners1.71%
Inst Owner Change-14.34%
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap48.95M
Analysts82.86
Price Target15.3 (82.36%)
Short Float %0.43%
Short Ratio1.14
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
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%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 291.37
P/FCF N/A
P/OCF N/A
P/B 5.79
P/tB 5.79
EV/EBITDA N/A
EPS(TTM)-0.35
EYN/A
EPS(NY)-0.51
Fwd EYN/A
FCF(TTM)-0.31
FCFYN/A
OCF(TTM)-0.31
OCFYN/A
SpS0.03
BVpS1.45
TBVpS1.45
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -19.44%
ROE -24.56%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 75%
FCFM N/A
ROA(3y)-20.29%
ROA(5y)-18.47%
ROE(3y)-25.15%
ROE(5y)-22.36%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y79.8%
GM growth 5YN/A
F-Score2
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 0.02
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 4.22
Quick Ratio 4.22
Altman-Z 9.19
F-Score2
WACC6.98%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-33.14%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-18%
EPS Next Y-900%
EPS Next 2Y-266.06%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-45.1%
Revenue growth 3Y75.65%
Revenue growth 5YN/A
Sales Q2Q%-39.78%
Revenue Next Year1300%
Revenue Next 2Y409.9%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y5.84%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-27.77%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y30.3%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y30.14%
OCF growth 3YN/A
OCF growth 5YN/A