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Employees: 5,992
Size Wavestone (WAVE.PA) is a France Industrials company (Miscellaneous Commercial Services) with a market value of $931M, the 144th largest of 206 France companies the cockpit tracks. Shares closed at €33.55 on 6 Nov 2026.
Performance Over six months the shares fell 22.4%, against -7.1% for the median peer and -0.4% for the France market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +6.1%); the operating margin is 11.7% (peer median 10.6%).
Valuation It trades at 10.0× forward earnings against a peer median of 17.5× (3rd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.6 points above its cost of capital (10.1% WACC).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €954M | €954M | €944M | €701M | €532M |
| Revenue growth | — | +1% | +35% | +32% | — |
| Gross profit | €120M | €159M | €161M | €140M | €116M |
| EBITDA | €132M | €133M | €129M | €108M | €83.1M |
| Net income | €82.0M | €82.0M | €75.6M | €58.2M | €50.1M |
| Free cash flow | €128M | €128M | €81.4M | €78.7M | €35.4M |
| Capital expenditure | €2.31M | €2.31M | €4.84M | €3.11M | €3.71M |
| Total debt | n/a | €20.3M | €80.7M | €84.2M | €59.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WAVE.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +15.5% | +0.7% | 2nd highest of 21 |
| 6-month return | -22.4% | -7.1% | 6th lowest of 21 |
| Distance from 52-week high | -48.1% | -25.5% | 6th lowest of 21 |
| Revenue growth (TTM) | +1.1% | +6.1% | 7th lowest of 21 |
| Operating margin | 11.7% | 10.6% | 10th highest of 21 |
| Forward P/E | 10.0× | 17.5× | 3rd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -5.3% | 3.1% | 4th least demanding of 16 |
| Growth delivered (Del g) | +18.0% | +14.5% | 7th highest of 16 |
| Hurdle (Req g minus delivered) | -23.3 pp | -13.9 pp | 3rd least demanding of 16 |
| ROIC minus cost of capital | +3.6 pp | +1.6 pp | 9th highest of 19 |
| EV / EBITDA | 5.5× | 9.0× | cheapest of 13 |
| Net debt / EBITDA | -0.8× | 0.7× | 5th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wavestone WAVE.PA | France | $931M | -22% | +1% | 12% | 10.0× | -5.3% | +18.0% |
| Shaanxi Fenghuo Electronics 000561.SZ | China | $929M | -24% | +8% | -26% | n/a | n/a | n/a |
| W.A.G. Payment Solutions EWG.L | United Kingdom | $935M | -4% | +16% | 3% | 17.5× | -1.7% | +12.2% |
| Service Stream SSM.AX | Australia | $943M | +7% | +1% | 3% | 17.6× | 11.7% | +24.0% |
| B2 Impact B2I.OL | Norway | $947M | +1% | +9% | 48% | 10.2× | -8.3% | +3.1% |
| Embedway Technologies (Shanghai) 603496.SS | China | $910M | -37% | +4% | 1% | 137.0× | 54.3% | +14.5% |
| Zhejiang Meorient Commerce & Exhibition 300795.SZ | China | $890M | -1% | -3% | 18% | 29.6× | n/a | n/a |
| Xi'an High Voltage Apparatus Research Institute 688334.SS | China | $889M | -10% | +4% | 29% | 21.3× | -2.4% | +20.3% |
| IP Group plc IPO.L | United Kingdom | $879M | +13% | -37% | 51% | 11.9× | n/a | n/a |
| Aimed Bio 0009K0.KS | South Korea | $875M | -61% | +223% | 36% | n/a | 13.2% | +652.2% |
| Rites RITES.NS | India | $990M | -15% | +11% | 20% | 19.7× | 19.8% | +5.3% |
| Shanghai Action Education Tehnology 605098.SS | China | $991M | -10% | +15% | 40% | 16.3× | -3.0% | +16.4% |
| GL events GLO.PA | France | $991M | -14% | +6% | 10% | 8.7× | 3.1% | +29.1% |
| Shenzhen Boshijie Technology 301608.SZ | China | $1.00B | -20% | +15% | 14% | 20.9× | n/a | n/a |
| DOOSAN TESNA 131970.KS | South Korea | $861M | -53% | +3% | 11% | 36.9× | 17.8% | +18.1% |
| NOMURA 9716.T | Japan | $861M | +4% | -10% | 7% | 14.1× | -8.4% | +8.6% |
| Willdan WLDN | United States | $1.01B | -25% | +18% | 7% | 14.5× | 15.4% | +11.8% |
| Funshine Culture 300860.SZ | China | $858M | +21% | -49% | -35% | 28.1× | 27.8% | -24.6% |
| Graincorp GNC.AX | Australia | $1.02B | +9% | -2% | 0% | 46.7× | n/a | n/a |
| TaskUs TASK | United States | $833M | +41% | +11% | 12% | 6.5× | 0.5% | +19.9% |
| Neurones NRO.PA | France | $1.04B | +5% | +7% | 9% | 17.1× | -8.3% | +10.3% |