Wallbox N.V. (WBX)
NYSE:WBX
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Wallbox
(NYSE:WBX)
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Rating:46Neutral
Price Target:
$3.00
▲(5.63% Upside)
Action:ReiteratedDate:04/13/26
The score is held down primarily by weak financial fundamentals—persistent losses and a balance sheet that has shifted to negative equity with meaningful debt. Earnings-call takeaways provide some support via margin improvement, cost cuts, and refinancing progress, but revenue pressure and liquidity sensitivity remain key risks. Technical signals are neutral and do not materially offset the fundamental risk, while valuation is constrained by negative earnings and no dividend support.
Positive Factors
Improving Gross Margins
Sustained gross margin expansion (38.3% in 2025, +410 bps) reflects BOM cost improvements, pricing and mix effects. Higher unit economics reduce cash burn and extend runway, supporting durable operational improvements and refinancing conversations over the next 2–6 months.
Negative Factors
Balance Sheet Weakness / Negative Equity
Equity erosion to negative territory significantly weakens financial flexibility, increases default and covenant risk, and constrains access to unsecured capital. This structural impairment elevates refinancing and dilution risk over the next several months absent full sanctioning of the restructuring.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving Gross Margins
Sustained gross margin expansion (38.3% in 2025, +410 bps) reflects BOM cost improvements, pricing and mix effects. Higher unit economics reduce cash burn and extend runway, supporting durable operational improvements and refinancing conversations over the next 2–6 months.
Read all positive factors
Wallbox (WBX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$52.99M
Dividend YieldN/A
Average Volume (3M)17.79K
Price to Earnings (P/E)―
Beta (1Y)1.32
Revenue Growth-11.22%
EPS Growth6.15%
CountryUS
Employees905
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-3.78
Shares Outstanding16,798,563
10 Day Avg. Volume15,928
30 Day Avg. Volume17,789
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)-1.07
Price to Sales (P/S)0.21
P/FCF Ratio-888.95
Enterprise Value/Market Cap4.05
Enterprise Value/Revenue1.45
Enterprise Value/Gross Profit4.49
Enterprise Value/Ebitda-3.00
Forecast
1Y Price Target
$5.00Price Target Upside76.06% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.39
Revenue Forecast (FY)$231.00M
Wallbox Business Overview & Revenue Model
Company Description
Wallbox 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...
How the Company Makes Money
Wallbox primarily makes money by selling EV charging equipment (hardware), which is typically the largest component of its revenue. This includes residential AC chargers sold to consumers and installers, as well as commercial and public-charging h...
Wallbox Earnings Call Summary
Earnings Call Date:Mar 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Neutral
The call communicated meaningful operational and financial progress—improved gross margins, sizable cost reductions, inventory release, strong software growth, product launches, and substantial progress on a comprehensive refinancing plan—while also acknowledging material top-line weaknesses (full-year and Q4 revenue declines), pronounced North American softness, constrained DC sales due in part to refinancing-related limitations, and a modest cash balance with significant outstanding debt. Management presented concrete remediation steps (sales/service reinvestment, new sales leadership, product rollouts) and near-term guidance. The positive momentum on margins, cost structure and refinancing progress is offset by the continued revenue pressure and liquidity/leverage sensitivity, resulting in a balanced view.Positive Updates
Full-Year Revenue and Unit Shipments
Full-year 2025 revenue totaled €145,100,000 with approximately 144,000 units delivered (536 DC units).
Negative Updates
Full-Year and Quarterly Revenue Declines
Full-year revenue declined 11% year-over-year. Q4 revenue was €33,700,000, down 10% YoY and down 5% QoQ, missing guidance.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and Unit Shipments
Full-year 2025 revenue totaled €145,100,000 with approximately 144,000 units delivered (536 DC units).
Read all positive updates
Company Guidance
For Q1 2026 Wallbox guided revenue of €33.0–€36.0 million, a gross margin of 38–40%, and a negative adjusted EBITDA of €(5.0)–€(3.0) million. This guidance follows Q4 revenue of €33.7 million (below guidance), Q4 gross margin of 37.3% (in the 37–39% guided range) and a Q4 adjusted EBITDA loss of €7.3 million; for full-year 2025 the company reported €145.1 million of revenue on ~144,000 units (536 DC), a FY gross margin of 38.3% (up 410 bps YoY), cash of ~$9.6 million at year-end, loans and borrowings of €165 million, inventory €47.5 million, and a 25% YoY improvement in cash cost—with completion of the refinancing expected to support the Q1 targets.Wallbox Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
12
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 148.00M | 163.78M | 164.01M | 144.23M | 143.47M | 71.85M |
| Gross Profit | 47.74M | -34.10M | 53.80M | 47.05M | 57.78M | 27.20M |
| EBITDA | -71.48M | -73.90M | -93.99M | -98.00M | -119.35M | -45.26M |
| Net Income | -125.67M | -116.46M | -149.04M | -112.43M | -62.49M | -224.63M |
Balance Sheet | ||||||
| Total Assets | 316.49M | 239.52M | 353.07M | 483.54M | 421.98M | 342.61M |
| Cash, Cash Equivalents and Short-Term Investments | 32.22M | 9.41M | 45.94M | 106.89M | 88.70M | 171.06M |
| Total Debt | 216.39M | 197.77M | 234.88M | 246.33M | 160.93M | 80.87M |
| Total Liabilities | 280.35M | 270.98M | 290.49M | 333.73M | 252.83M | 211.54M |
| Stockholders Equity | 35.27M | -31.69M | 64.80M | 149.79M | 169.15M | 131.07M |
Cash Flow | ||||||
| Free Cash Flow | -38.61M | -38.00K | -87.02M | -108.51M | -201.47M | -99.97M |
| Operating Cash Flow | -36.47M | 10.00M | -51.53M | -89.74M | -136.29M | -69.63M |
| Investing Cash Flow | -7.15M | 11.62M | -39.46M | -58.54M | -13.96M | -88.30M |
| Financing Cash Flow | 0.00 | -32.19M | 2.96M | 172.48M | 111.75M | 246.92M |
Wallbox Technical Analysis
Negative
2.84
Price Trends
2.87
Negative
2.93
Negative
3.91
Negative
Market Momentum
0.03
Negative
49.58
Neutral
34.49
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 2.84 is above the 20-day moving average (MA) of 2.80, below the 50-day MA of 2.87, and below the 200-day MA of 3.91, indicating a neutral trend. The MACD of 0.03 indicates Negative momentum. The RSI at 49.58 is Neutral, neither overbought nor oversold. The STOCH value of 34.49 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 3 New Risks
1.
Failure of banks or other financial institutions could adversely affect our cash, cash equivalents and investments and our business and financial condition may suffer as a result. Q4, 2023
2.
We are susceptible to risks associated with an increased focus by stakeholders and regulators on environmental and social matters, including climate change, which may adversely affect our business and results of operations. Q4, 2023
3.
Political and economic uncertainty and macroeconomic factors could adversely affect our business, financial condition and results of operations. Q4, 2023
Wallbox Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $921.53M | 93.63 | 9.64% | ― | -6.13% | -76.92% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $1.22B | -193.07 | -77.78% | ― | -5.13% | -37.34% | |
52 Neutral | $86.81M | -29.74 | -391.12% | ― | 69.76% | 43.82% | |
46 Neutral | $52.99M | -0.29 | -142.33% | ― | -11.22% | 6.15% | |
43 Neutral | $49.93M | -35.85 | -14.57% | ― | -1.70% | 17.13% |
* Technology Sector Average
WBX
Wallbox
2.84
-4.36
-60.56%
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Wallbox Corporate Events
Wallbox Signs Restructuring Plan and Secures €11 Million Bridge Financing
Apr 8, 2026
On April 8, 2026, Wallbox N.V. announced it had formally signed a comprehensive restructuring plan with financial creditors representing about 83% of the Group’s financial debt, alongside key shareholders and a new institutional investor. Th...
Wallbox Secures Agreement on Comprehensive Debt and Equity Restructuring
Apr 1, 2026
On April 1, 2026, Wallbox announced it had agreed final terms for a comprehensive recapitalization and financial restructuring with creditors representing over 83% of its debt, key shareholders and a new institutional investor, subject to court ap...
Wallbox Faces NYSE Listing Deficiency, Plans Capital Structure Overhaul
Mar 13, 2026
On March 13, 2026, Wallbox disclosed that it received a non-compliance notice from the New York Stock Exchange on February 12, 2026, after failing to meet the exchange’s requirement for an average global market capitalization and shareholder...
Wallbox Posts 2025 Losses as It Extends Standstill and Advances Capital Restructuring
Mar 4, 2026
On March 4, 2026, Wallbox reported full-year 2025 revenue of €145.1 million with a gross margin of 38.3%, an operating loss of €99.3 million and sales of roughly 144,000 AC and 530 DC charging units, while cutting labor and other opera...
Wallbox Secures Further Extension of Standstill Deal With Lenders to March 1, 2026
Feb 6, 2026
On February 6, 2026, Wallbox N.V. disclosed that it has once again extended a standstill agreement with its banking syndicate as it continues negotiations over its long-term capital structure. The agreement, originally entered into on October 9, 2...
Wallbox Secures Non-Binding €5 Million Equity Commitment from Catalan Public Lender
Jan 14, 2026
On January 14, 2026, Wallbox N.V. announced that Institut Català de Finances, through its vehicle IFEM, has agreed on a non-binding basis to make a €5 million equity investment in the company, subject to certain conditions precedent. Th...
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.