Greenwave Technology Solutions Inc. Common Stock (GWAV)

FairStock Score: 58/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn consistent profits, generate cash, and possess some durable advantage. Greenwave is a metal recycler with 164 employees. It collects and processes appliances, construction materials, end-of-life vehicles, and machinery. That is honest work, but it is commodity-like and cyclical; I see no moat. The numbers confirm the difficulty. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $16.0M and net income was -$3.2M. That was better than fiscal Q2 2025, when revenue was $11.0M and net income was -$4.9M, so sales are growing and the loss narrowed. Yet in FY2025, ended 2025-12-31, revenue was $46.7M and net income was -$21.6M; FY2024 revenue was $33.3M and net income -$23.9M; FY2023 revenue was $35.7M and net income -$26.9M. Four straight loss years is not a record I can underwrite. Free cash flow is negative: FairStock shows TTM FCF of -$3.4M and an FCF yield of -160.5%. Debt/equity is 0.61, and FairStock's Altman Z-score is -14.31, a distress signal. At the close on 2026-10-13, price was $2.59 and market cap $2.1M. FairStock calculations show P/B 0.10 and P/E -0.12; that looks statistically cheap, but book value can vanish through losses. Piotroski is 4/9, mediocre. Growth without profit and cash generation is not value; it is hope. I would need evidence of sustainable margins, positive free cash flow, and a stronger balance sheet before calling this a margin of safety.

In plain English: Greenwave recycles scrap metal through facilities and hauling services. Sales are growing, but the company has lost money every year, uses more cash than it brings in, and carries debt. At the 2026-10-13 close, the stock looks very cheap compared with its reported assets, but that cheapness reflects a weak, cash-burning business rather than a clearly strong one.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer