Eco Wave Power Global AB (publ) (WAVE) AI Stock Analysis

Eco Wave Power Global AB (publ) specializes in developing Wave Energy Conversion systems designed to harness ocean and sea waves for clean electricity generation. The company operates a grid-connected wave energy array in Gibraltar under a power purchase agreement with the Government of Gibraltar and Gibraltar's National Electric Company. It has established international agreements including power purchase and concession contracts, supporting a project pipeline totaling approximately 327.7 megawatts. Headquartered in Tel Aviv-Yafo, Israel, the company targets markets including Sweden, Israel, Portugal, China, Australia, and Mexico.

Annual revenue fluctuated significantly from $31,000 in FY2021 to a peak of $306,000 in FY2023, before declining 45.1% to $168,000 in FY2024 and falling 77.3% to $38,203 in FY2025. Gross margin shifted from 80.7% in FY2023 to -610.5% in FY2025. Operating margin was -8416.0% in FY2025, reflecting ongoing development costs. Net income widened from -$1.7M in FY2023 to -$3.7M in FY2025, yielding an EPS of -$0.50. For the trailing twelve months ending June 30, 2026, revenue stood at $38,000, with quarterly revenue falling 77.4% year-over-year and an operating margin of -7602.6%.

As of June 30, 2026, Eco Wave Power held $8.2M in cash and short-term investments against $1.3M in total debt, resulting in net cash of $6.9M. Total assets were $10.1M and shareholders' equity was $7.8M, supported by a debt-to-equity ratio of 0.16 and a current ratio of 3.49. In FY2025, operating cash flow was -$2.8M and free cash flow was -$3.3M. Capital expenditures totaled $527,818, while share buybacks were $27,144.

WAVE closed at $5.20 on October 16, 2026, giving it a market cap of $32.4M and an enterprise value of $29.1M. The stock trades at a price-to-sales ratio of 853.8x and an EV-to-revenue multiple of 764.8x, compared to a median price-to-sales of 2.4x for its US-listed Utilities peers. Its price-to-book ratio is 4.6x. Over the past year, shares fell 34.8% and are down 10.9% year-to-date, trailing the S&P 500 return of 16.8% over the past 12 months.

Wall Street coverage consists of 1 Strong Buy and 1 Buy rating, with no Hold, Sell, or Strong Sell recommendations. The mean price target is $14.75, representing a 183.7% premium over the last close of $5.20. For the fiscal year ending December 31, 2026, analysts estimate revenue of $175,000 and an EPS of -$0.79. For the next fiscal year, consensus models revenue growth of 42.9% to $250,000 with an EPS of -$0.71. Eco Wave Power beat EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 11, 2026.

This page is an AI-written research summary of Eco Wave Power Global AB (publ) (WAVE). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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