Latest Ratios: P/E Ratio -14.6x · EV/EBITDA N/A · ROE -53.9%. (2017–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $55M | $34M | $61M | $7M | $17M | $21M | — | — | — | — |
| Enterprise Value | $50M | $29M | $55M | $4M | $12M | $8M | — | — | — | — |
| P/E Ratio → | -14.63 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1430.76 | 892.65 | 363.19 | 22.49 | 635.29 | 692.32 | — | — | — | — |
| P/B Ratio | 9.96 | 6.22 | 7.35 | 0.88 | 1.67 | 1.46 | — | — | — | — |
| P/FCF | — | — | 55.02 | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 763.48 | 324.49 | 12.42 | 479.14 | 264.48 | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 49.16 | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -610.5% | -610.5% | 75.0% | 80.7% | 15.4% | 12.9% | — | — | -2254.9% | -1832.3% |
| Operating Margin | -8416.0% | -8416.0% | -1391.7% | -788.6% | -13873.1% | -9903.2% | — | — | -6289.8% | -4436.4% |
| Net Profit Margin | -9729.2% | -9729.2% | -1236.3% | -558.8% | -11157.7% | -7571.0% | — | — | -6289.8% | -4436.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -53.9% | -53.9% | -25.8% | -19.3% | -23.6% | -18.4% | -3.8% | -35.6% | — | — |
| ROA | -39.5% | -39.5% | -20.1% | -15.6% | -20.3% | -16.0% | -3.2% | -26.5% | -54.1% | -58.6% |
| ROIC | -205.2% | -205.2% | -53.8% | -34.4% | -74.3% | -156.5% | -26.8% | -142.4% | -55.1% | -61.5% |
| ROCE | -46.1% | -46.1% | -28.6% | -26.9% | -28.0% | -22.1% | -3.7% | -30.2% | -57.3% | -61.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.16 | 0.15 | 0.13 | 0.09 | 0.13 | 0.13 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.90 | -0.78 | -0.39 | -0.41 | -0.90 | -0.86 | -0.90 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | -5.86 | — | — | — | — | — | — | — |
| Interest Coverage | -55.42 | -55.42 | -33.79 | -40.47 | -59.44 | -43.28 | -389.60 | -22.83 | -1089.56 | -16.68 |
Net cash position: cash ($6M) exceeds total debt ($1M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.49 | 2.49 | 4.22 | 4.11 | 5.66 | 16.70 | 18.86 | 13.50 | 4.05 | 7.20 |
| Quick Ratio | 2.49 | 2.49 | 4.22 | 4.11 | 5.63 | 20.56 | 18.86 | 13.50 | 3.77 | 6.79 |
| Cash Ratio | 2.39 | 2.39 | 4.06 | 3.94 | 5.54 | 16.19 | 18.38 | 13.13 | 2.53 | 5.32 |
| Asset Turnover | — | 0.00 | 0.02 | 0.03 | 0.00 | 0.00 | — | — | 0.01 | 0.01 |
| Inventory Turnover | — | — | 14000.00 | — | 0.37 | — | — | — | 11.13 | 13.58 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | 1.8% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $6M | $6M | $6M | $6M | $5M | $4M | $4M | $5M | $5M |
Pre-commercial execution and liquidity
As reported in recent financial data, WAVE trades at a price-to-sales ratio of 1397.13, which suggests that the market is pricing the company as a speculative technology venture rather than a regulated utility, as there are no earnings or dividends to anchor a traditional valuation model.
The absence of a forward P/E or dividend yield confirms that the current share price is driven entirely by long-term project pipeline expectations rather than current cash generation. Investors should monitor whether the company can transition from this high-multiple speculative phase to a valuation anchored by regulated rate-base growth.
Based on the most recent quarterly filings, the company maintains a debt-to-capital ratio of 0.17, indicating a highly conservative balance sheet that appears to prioritize liquidity preservation over the debt-funded capital expansion typically required to scale utility-grade infrastructure projects in the renewable energy sector.
While the low leverage profile provides a buffer against interest rate volatility, it also suggests that the company has not yet reached the stage of development where it can utilize project finance to accelerate its 404.7 MW pipeline. The current capital structure appears to be a defensive posture necessitated by the lack of consistent, recurring revenue streams.
According to comparative market data, WAVE's price-to-book ratio of 9.73 significantly exceeds that of speculative peers like Marathon Digital, which may indicate that investors are assigning a substantial premium to the company's proprietary wave energy conversion technology despite the lack of commercial-scale revenue generation.
This valuation premium warrants further investigation, as it suggests the market is pricing in the potential for future licensing or turnkey sales rather than current operational performance. The disparity between WAVE and its peers highlights the market's reliance on non-financial milestones, such as grid-connection permits, to justify the current equity valuation.
As noted in financial analysis, the most commonly misapplied metric for WAVE is the P/E ratio, which obscures the company's pre-revenue status and fails to account for the fact that the firm is currently an R&D-heavy engineering entity rather than a mature, rate-regulated utility provider.
Applying utility-style valuation multiples to WAVE is fundamentally flawed because the company lacks the regulated return on equity (ROE) that anchors utility pricing. Analysts should instead focus on the 'Permitting-to-PPA Conversion Rate' and cash runway metrics to assess the company's viability, as these provide a more accurate reflection of its current development stage.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying WAVE stock.
Eco Wave Power Global AB (publ)'s current P/E ratio is -14.6x. This places it at the 50th percentile of its historical range.
Eco Wave Power Global AB (publ)'s return on equity (ROE) is -53.9%. The historical average is -25.8%.
Based on historical data, Eco Wave Power Global AB (publ) is trading at a P/E of -14.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Eco Wave Power Global AB (publ) has -610.5% gross margin and -8416.0% operating margin.