Wave Life Sciences Ltd. (WVE) intrinsic value & 10-year financials
Wave Life Sciences Ltd. (WVE) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 50.3% a year to $42.7M, with an average return on invested capital of 112.2%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $3.13
- Market cap
- $527.9M
- Revenue (FY2025)
- $42.7M
- Revenue growth (10-yr CAGR)
- 50.3%
- ROIC (10-yr avg)
- 112.2%
- Free cash flow (FY2025)
- -$188.2M
WVE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $42.7M | -$204.4M | -$1.21 | -$188.2M | -504.1% | 288.9% |
| FY2024 | $108.3M | -$97.0M | -$0.70 | -$152.0M | -101.9% | 105.1% |
| FY2023 | $113.3M | -$57.5M | -$0.54 | -$20.5M | -60.0% | 56.8% |
| FY2022 | $3.6M | -$161.8M | -$2.05 | -$129.1M | -4459.3% | 167.3% |
| FY2021 | $41.0M | -$122.2M | -$2.36 | -$89.6M | -310.1% | 149.9% |
| FY2020 | $20.1M | -$149.9M | — | -$117.3M | -763.9% | 234.2% |
| FY2019 | $16.0M | -$193.6M | — | -$192.1M | -1303.4% | 384.9% |
| FY2018 | $14.4M | -$146.7M | — | -$32.8M | -1106.7% | -149.7% |
| FY2017 | $3.9M | -$102.0M | — | -$102.6M | -2635.0% | -74.7% |
| FY2016 | $1.1M | -$55.4M | — | -$37.5M | -5066.6% | -41.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Wave Life Sciences Ltd. is a consistent compounder, expanding top-line revenue at 50.3% annually over the past decade.
Wave Life Sciences Ltd. has historically struggled to out-earn its cost of capital, averaging just 5.7% ROIC.
Wave Life Sciences Ltd. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Wave Life Sciences Ltd. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-40.19 per share.