Wavestone SA (FR:WAVE)
:WAVE
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Wavestone
(WAVE)
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Rating:75Outperform
Price Target:
€48.00
▼(-0.93% Downside)
Action:Reiterated
Date:06/06/26
The score is driven primarily by strong financial fundamentals—rapid growth, healthy profitability, and a very strong balance sheet with minimal leverage—partly offset by technical weakness with the stock trading below key moving averages. Valuation is supportive with a moderate P/E, while income contribution from the dividend is modest.
Positive Factors
Revenue Scaling
Consistent, multi-year revenue scaling (417.6m→954.3m) signals durable demand for transformation, digital and cybersecurity services. Sustained top-line growth supports investment in talent and capabilities, widens the client footprint and stabilizes project pipelines over the medium term.
Negative Factors
Gross-margin step-down
A pronounced gross-margin decline in 2026 materially reduces earnings quality and suggests structural pressure from mix shifts, pricing weakness or higher delivery costs. If persistent, lower gross margins compress operating profits and limit the firm's ability to fund growth or improve returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scaling
Consistent, multi-year revenue scaling (417.6m→954.3m) signals durable demand for transformation, digital and cybersecurity services. Sustained top-line growth supports investment in talent and capabilities, widens the client footprint and stabilizes project pipelines over the medium term.
Read all positive factors
Wavestone (WAVE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€1.01B
Dividend Yield0.84%
Average Volume (3M)19.23K
Price to Earnings (P/E)12.3
Beta (1Y)0.90
Revenue Growth1.13%
EPS Growth8.26%
CountryFR
Employees5,875
SectorServices
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)3.34
Shares Outstanding24,906,332
10 Day Avg. Volume31,173
30 Day Avg. Volume19,233
Financial Highlights & Ratios
PEG Ratio1.63
Price to Book (P/B)1.61
Price to Sales (P/S)1.18
P/FCF Ratio8.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€72.00Price Target Upside48.61% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)3.68
Revenue Forecast (FY)€980.62M
Wavestone Business Overview & Revenue Model
Company Description
Wavestone S.A. specializes in offering strategic and digital advisory services, primarily serving clients within France but also maintaining a notable international footprint. The firm extends its expertise across a broad spectrum of industries, e...
How the Company Makes Money
Wavestone primarily makes money by billing clients for professional consulting services delivered by its consultants on transformation and technology-related engagements. Revenue is mainly generated through (1) time-and-materials consulting, where...
Wavestone Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 954.35M | 943.67M | 701.06M | 532.26M | 470.06M |
| Gross Profit | 119.87M | 344.64M | 167.79M | 116.41M | 215.94M |
| EBITDA | 132.76M | 127.84M | 95.55M | 77.61M | 80.33M |
| Net Income | 81.99M | 75.56M | 58.20M | 50.07M | 51.03M |
Balance Sheet | |||||
| Total Assets | 996.89M | 979.95M | 977.74M | 536.79M | 494.24M |
| Cash, Cash Equivalents and Short-Term Investments | 121.44M | 78.35M | 77.48M | 70.82M | 108.25M |
| Total Debt | 20.27M | 80.77M | 84.39M | 59.46M | 65.97M |
| Total Liabilities | 294.43M | 346.55M | 406.35M | 237.74M | 237.25M |
| Stockholders Equity | 701.31M | 631.96M | 569.47M | 299.05M | 256.98M |
Cash Flow | |||||
| Free Cash Flow | 128.46M | 84.44M | 78.67M | 35.36M | 55.23M |
| Operating Cash Flow | 130.77M | 89.28M | 81.77M | 41.15M | 56.34M |
| Investing Cash Flow | -12.72M | -48.74M | -69.02M | -52.73M | -12.48M |
| Financing Cash Flow | -76.10M | -40.18M | -7.41M | -25.85M | -23.96M |
Wavestone Technical Analysis
Negative
48.45
Price Trends
45.72
Negative
48.10
Negative
49.63
Negative
Market Momentum
-0.63
Positive
36.02
Neutral
6.28
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:WAVE, the sentiment is Negative. The current price of 48.45 is above the 20-day moving average (MA) of 45.06, above the 50-day MA of 45.72, and below the 200-day MA of 49.63, indicating a bearish trend. The MACD of -0.63 indicates Positive momentum. The RSI at 36.02 is Neutral, neither overbought nor oversold. The STOCH value of 6.28 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:WAVE.
Wavestone Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | €715.24M | 18.67 | 12.71% | 2.54% | 11.35% | 2.20% | |
75 Outperform | €1.01B | 12.27 | 12.87% | 0.84% | 1.13% | 8.26% | |
69 Neutral | €855.15M | 13.81 | 14.08% | 3.07% | 5.78% | -1.04% | |
66 Neutral | €2.81B | 9.49 | 14.39% | 3.03% | -2.23% | 20.83% | |
64 Neutral | €16.18B | 13.01 | 10.95% | 2.35% | 1.67% | -3.83% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
41 Neutral | €667.94M | -0.49 | 319.82% | ― | -16.46% | 93.72% |
* Services Sector Average
FR:WAVE
Wavestone
40.95
-16.68
-28.94%
FR:ATO
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33.82
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56.20
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12.84%
FR:CAP
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95.46
-52.53
-35.50%
FR:NRO
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-21.79%
FR:SOP
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144.60
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-25.75%
Wavestone Corporate Events
Wavestone Updates Market on Share Capital and Voting Rights Structure
Apr 4, 2026
Wavestone has reported that as of March 31, 2026, its share capital consists of 24,906,332 shares outstanding, corresponding to 41,701,639 voting rights under French market regulations. This disclosure, made under Article L.233-8 of the Commercial...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.