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Wallbox (WBX)
NYSE:WBX
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Wallbox
(NYSE:WBX)
44Neutral
Positive Factors
Market Position
Wallbox is seen as a leader in charging technology, supported by key partnerships and potential growth in commercial charger installations.
Partnership and Expansion
The Generac partnership deal helped North America shine, with revenue up 64%.
Negative Factors
Financial Performance
Revenue for the quarter missed expectations and was limited by slower-than-anticipated DC fast charger sales.
Inventory and Margins
Higher-cost legacy DC charger inventory has taken longer-than anticipated to offload and is a margin headwind.
Market Conditions
Weakened consumer sentiment around EV adoption driven by a high interest rate environment and OEMs scaling back production plans for EVs in the near-term.
Wallbox (WBX) vs. S&P 500 (SPY)
Market Cap
$96.47M
Dividend YieldN/A
Average Volume (3M)434.59K
Price to Earnings (P/E)―
Beta (1Y)1.54
Revenue Growth20.13%
EPS Growth29.26%
CountryUS
Employees1,457
SectorTechnology
Sector Strength57
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.68
Shares Outstanding230,593,810
10 Day Avg. Volume499,253
30 Day Avg. Volume434,590
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.43
Price to Cash Flow (P/CF)N/A
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$1.00Price Target Upside163.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Wallbox Business Overview & Revenue Model
Company DescriptionWallbox N.V., a technology company, designs, manufactures, and distributes charging solutions for residential, business, and public use. The company operates in three segments: Europe-Middle East Asia, North America, and Asia-Pacific. It offers EV charging hardware products, such as Pulsar Plus, an AC smart charger for home or multi-family residence; Commander 2, an AC smart charger for fleets and businesses with a 7-inch touchscreen display that provides a personalized and secure user interface for multiple users; Copper SB, an AC smart charger for fleets and businesses with an integrated socket that makes it compatible with both type 1 and type 2 charging cables; Quasar, a DC bi-directional charger for home-use that allows to charge and discharge electric vehicle, and enables to use car battery to power home or sell energy back to the grid; Supernova, a DC fast charger equipment designed for public use; and Hypernova that allows to optimize available power and adapt to the number of EVs connected for public charging along highways and transcontinental road networks. The company also provides EV charging software solutions, including the myWallbox platform, a cloud based software designed to provide smart management of its chargers in residential and business parking lots, such as workplaces, fleets, and semi-public parking lots; Electromaps, a hardware-agnostic e-mobility service provider and charger management software that enables users to find publicly available charging ports; and Sirius, an energy management solution that is designed to seamlessly integrates the electric grid with solar, on-site batteries, and other renewable energy sources. In addition, it offers upgrades and accessories, which includes energy meters, EV charging cables, pedestals, and RFID cards; and installation, maintenance, and charging network management services. The company was incorporated in 2015 and is headquartered in Barcelona, Spain.
How the Company Makes MoneyWallbox makes money primarily through the sale of its smart charging hardware and associated software solutions. The company generates revenue by selling EV charging units to residential users, businesses, and public charging networks. These units are equipped with smart technology that enables users to manage and optimize their energy use. Additionally, Wallbox offers subscription-based services for advanced software features, providing users with enhanced control and analytics capabilities. The company may also engage in strategic partnerships with automotive manufacturers, energy providers, and infrastructure companies to expand its market reach and enhance its product offerings, thereby contributing to its revenue growth.
Wallbox Financial Statement Overview
Summary
Wallbox exhibits strong revenue growth but faces challenges in profitability and cash flow. The company is heavily leveraged, increasing financial risk. Improving operational efficiency and managing leverage will be crucial for financial stability and growth.Income Statement
Wallbox shows a strong revenue growth with a 8.01% increase from the previous year. However, the company is struggling with profitability, as evidenced by negative EBIT and net income margins. The gross profit margin has declined, suggesting rising costs or pricing pressure.45
Neutral
Balance Sheet
The balance sheet indicates a moderate financial position. The debt-to-equity ratio has increased, signifying higher leverage, which poses a risk. However, stockholders' equity provides a cushion. The equity ratio has also slightly decreased, reflecting increased liabilities relative to assets.50
Neutral
Cash Flow
Cash flow from operations is negative, indicating reliance on financing to sustain operations. Free cash flow is negative, although it has improved from the previous year. The operating cash flow to net income ratio is unfavorable, highlighting cash generation challenges.40
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 180.65M | 158.72M | 146.97M | 76.37M | 19.68M | 8.02M | Gross Profit |
| 64.44M | 51.78M | 59.49M | 32.12M | 9.10M | 4.36M | EBIT |
| -95.24M | -106.94M | -136.71M | ― | -10.30M | -5.21M | EBITDA |
| -79.58M | -69.20M | -44.54M | -256.61M | -8.92M | -5.11M | Net Income Common Stockholders |
| -107.39M | -123.72M | -131.78M | -223.78M | -11.40M | -6.00M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 70.77M | 106.89M | 88.70M | 171.06M | 22.58M | 7.50M | Total Assets |
| 463.27M | 483.54M | 421.98M | 342.61M | 81.84M | 36.41M | Total Debt |
| 233.82M | 246.33M | 160.93M | 71.06M | 52.64M | 17.23M | Net Debt |
| 169.35M | 145.18M | 77.62M | -42.81M | 30.30M | 10.00M | Total Liabilities |
| 357.95M | 333.73M | 252.83M | 211.54M | 69.61M | 25.88M | Stockholders Equity |
| 105.30M | 149.79M | 169.15M | 131.07M | 12.23M | 10.53M |
| Cash Flow | Free Cash Flow | ||||
| -46.75M | -108.51M | -201.47M | -99.97M | -30.41M | -12.52M | Operating Cash Flow |
| -40.14M | -64.10M | -136.29M | -69.63M | -11.63M | -5.42M | Investing Cash Flow |
| -54.70M | -59.78M | -13.96M | -88.30M | -19.32M | -7.90M | Financing Cash Flow |
| 44.79M | 140.63M | 111.75M | 246.92M | 46.74M | 17.50M |
Wallbox Technical Analysis
Negative
0.38
Price Trends
0.38
Negative
0.45
Negative
0.82
Negative
Market Momentum
<0.01
Negative
52.72
Neutral
72.57
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WBX, the sentiment is Negative. The current price of 0.38 is above the 20-day moving average (MA) of 0.34, below the 50-day MA of 0.38, and below the 200-day MA of 0.82, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 52.72 is Neutral, neither overbought nor oversold. The STOCH value of 72.57 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WBX.
Wallbox Risk Analysis
Wallbox disclosed 64 risk factors in its most recent earnings report. Wallbox reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Wallbox Peers Comparison
Overall Rating
UnderperformOutperform
Sector (59)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $10.74B | 10.21 | -6.69% | 3.04% | 7.44% | -10.92% | |
51 Neutral | $87.12M | ― | -309.46% | ― | 385.52% | -33.32% | |
49 Neutral | $98.34M | ― | -68.97% | ― | -9.27% | 19.30% | |
46 Neutral | $67.23M | ― | -3.99% | ― | -12.04% | -39.46% | |
44 Neutral | $96.47M | ― | -82.60% | ― | 20.13% | 29.26% | |
43 Neutral | $145.13M | ― | -152.72% | ― | -47.76% | -1.39% | |
32 Underperform | $67.57M | ― | -6139.13% | ― | -68.67% | -484.48% |
* Technology Sector Average
Performance Comparison
WBX
Wallbox
0.37
-1.12
-75.17%
SOL
Emeren Group
1.39
-0.50
-26.46%
STEM
Stem Inc
0.42
-1.41
-77.05%
MKFG
Markforged Holding
4.74
-2.01
-29.78%
ARBE
Arbe Robotics
1.36
-0.48
-26.09%
PSQH
PSQ Holdings
2.03
-2.02
-49.88%
Wallbox Earnings Call Summary
Earnings Call Date: Feb 26, 2025 | % Change Since: -24.00% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Neutral
Wallbox demonstrated resilience through revenue growth and strategic partnerships despite significant challenges such as missed revenue targets, declining DC fast charger sales, and gross margin pressures. The company is actively managing costs and working towards profitability.Highlights
Revenue Growth
Wallbox reported a 14% year-over-year revenue growth for the full year, totaling €163.9 million. This was driven by a 40% year-over-year growth in the North American market.
Cost Management
The company achieved a 19% year-over-year reduction in cash costs for Q4, and a 35% reduction in headcount compared to the previous year, indicating effective cost management strategies.
Strategic Partnerships and Funding
Wallbox strengthened commercial relationships with key partners such as Engie, Generac, and Iberdrola, and raised an additional $45 million from strategic investors.
Product Innovations
The launch of new product versions like the Supernova UL and Pulsar Pro Socket, along with the UL certification for the Quasar 2, positions Wallbox as a technology leader in the EV charging space.
Lowlights
Missed Revenue Targets
Q4 revenue was €37.4 million, down 14% year-over-year, missing the guidance range provided in the last earnings call.
DC Fast Chargers Sales Decline
Sales of DC fast chargers were down 34% quarter-over-quarter due to inventory build-up and order delays from customers.
Gross Margin Decline
The gross margin in Q4 was 34.6%, below the target range of 38% to 40%, primarily due to a less favorable product mix.
Losses and Profitability Challenges
Adjusted EBITDA loss for the quarter was €12.3 million, and the company did not meet its adjusted EBITDA guidance of a €7 million to €10 million negative range.
Company Guidance
During the fourth quarter earnings call, Wallbox provided guidance for the first quarter of 2025, anticipating revenue to range between €34 million and €37 million. The company expects gross margins to fall within a 37% to 39% range. The guidance also projected a negative adjusted EBITDA between €8 million and €11 million. Despite challenging market conditions in 2024, such as a 14% decrease in Q4 revenue year-over-year and a gross margin slightly below the target range, Wallbox remains optimistic due to strategic partnerships and product innovations. They reported an annual revenue growth of 14%, reaching €163.9 million, along with significant improvements in operational efficiency reflected in a 21% year-over-year enhancement in adjusted EBITDA. The company also achieved a 19% reduction in cash costs year-over-year for the fourth quarter and a 23% decrease in inventory levels compared to the previous year.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.