Eco Wave Power Global AB (publ) American Depositary Shares (WAVE)

FairStock Score: 30/100 — RISKY

Key Financials

AI Analysis

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

I look for businesses that earn money today and have durable advantages. Eco Wave Power is not that yet. It is a 13-employee wave-energy developer with a 404.7 MW pipeline of projects, but in the quarter labeled 2025-Q4 it reported revenue of only $38,000 and a net loss of $836,000, a -2,200% margin. That is not a business; it is a prototype with agreements. The balance sheet is the one bright spot: debt-to-equity is 0.17 and the Altman Z-Score, a FairStock calculation, is 7.65, suggesting low near-term bankruptcy risk. But the operating returns are poor: ROE is -48.13% and ROCE is -18.52%, both FairStock calculations. At the close on 2026-10-13, the price was $5.52, giving a market cap of $41.1 million, a negative P/E of -8.62, and P/B of 4.42. Paying 4.4 times book for a loss-making company with negligible revenue is speculative, not value investing. The Piotroski F-Score is 2/9, confirming weak fundamentals. FairStock's overall score is 30/100. The Lynch category is none because there are only 0 years of filed results, needing 3, so there is no track record to judge. Growth depends on converting letters of intent and agreements into installed, revenue-generating projects. If wave energy becomes commercial, the 404.7 MW pipeline could be valuable. If not, shareholders own a small cash-burning story. I prefer to wait for evidence of repeatable revenue and positive cash generation, not promises.

In plain English: Eco Wave Power is a small company trying to turn ocean waves into electricity. It has many planned projects but almost no revenue yet and lost money in its latest reported quarter. At $5.52, the stock looks expensive compared with its current sales and losses.

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

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