Eco Wave Power Global ABWAVE -3.86%39 Piotroski F-Score is 2 as of Jun. 29, 2026, which is 33% below its 10-year median of 3.00. GuruFocus rates WAVE with a GF Score™ of 39/100 and a GF Value™ of $1.54 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 417 Utilities - Independent Power Producers companies, Eco Wave Power Global AB ranks worse than 93.53% on this metric.
Warning Sign:
Piotroski F-Score of 2 is low, which usually implies poor business operation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Eco Wave Power Global AB has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
The historical rank and industry rank for Eco Wave Power Global AB's Piotroski F-Score or its related term are showing as below:
WAVE'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 3 Max: 6
Current: 2
During the past 9 years, the highest Piotroski F-Score of Eco Wave Power Global AB was 6. The lowest was 1. And the median was 3.
Eco Wave Power Global AB (NAS:WAVE) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Eco Wave Power Global AB Piotroski F-Score Related Terms
Eco Wave Power Global AB Piotroski F-Score Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
WAVE vs NXXT, AGIG, STEM: Piotroski F-Score Comparison
For the Utilities - Renewable subindustry, Eco Wave Power Global AB's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Eco Wave Power Global AB Piotroski F-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Eco Wave Power Global AB's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Eco Wave Power Global AB's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Eco Wave Power Global AB's current Net Income (TTM) was -2.57.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Eco Wave Power Global AB's current Cash Flow from Operations (TTM) was 0.00.
==> Negative ==> Score 0.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Eco Wave Power Global AB's return on assets of this year was -0.24059165. Eco Wave Power Global AB's return on assets of last year was -0.20751324.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Eco Wave Power Global AB's gearing of this year was 0.00120707. Eco Wave Power Global AB's gearing of last year was 0.01521827.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Eco Wave Power Global AB's current ratio of this year was 2.42789496. Eco Wave Power Global AB's current ratio of last year was 4.21840107.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Eco Wave Power Global AB's number of shares in issue this year was 5.84. Eco Wave Power Global AB's number of shares in issue last year was 5.603.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Eco Wave Power Global AB's gross margin of this year was . Eco Wave Power Global AB's gross margin of last year was 0.75.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Eco Wave Power Global AB's asset turnover of this year was 0. Eco Wave Power Global AB's asset turnover of last year was 0.01678489.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Eco Wave Power Global AB has an F-score of 2. It is a bad or low score, which usually implies poor business operation.
Eco Wave Power Global AB (WAVE) has a Piotroski F-Score of 2 as of Jun. 29, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Eco Wave Power Global AB and its competitors. This is 33% below median its historical median of 3.00. Over the past decade, Eco Wave Power Global AB's Piotroski F-Score has ranged from 1.00 to 6.00. According to the industry distribution chart, Eco Wave Power Global AB ranks #390 out of 417 companies in the Utilities - Independent Power Producers industry, placing it in the top 93.5%.
Is Eco Wave Power Global AB's Piotroski F-Score too high?
Eco Wave Power Global AB's current Piotroski F-Score of 2 is 33% below median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 6.00. The Utilities - Independent Power Producers industry median Piotroski F-Score is 5.00. Eco Wave Power Global AB's value of 2 is 60% below this industry median. Based on the distribution chart, Eco Wave Power Global AB ranks #390 out of 417 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Eco Wave Power Global AB has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Eco Wave Power Global AB's Piotroski F-Score compare to NXXT and AGIG?
According to the Utilities - Independent Power Producers industry distribution chart, Eco Wave Power Global AB ranks #390 out of 417 companies for Piotroski F-Score. This places Eco Wave Power Global AB in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Eco Wave Power Global AB's value of 2 is 60% below this benchmark. Historically, Eco Wave Power Global AB's own Piotroski F-Score has ranged from 1.00 to 6.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Eco Wave Power Global AB has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Utilities - Independent Power Producers company?
The median Piotroski F-Score among Utilities - Independent Power Producers companies is 5.00, based on 417 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Eco Wave Power Global AB's current Piotroski F-Score of 2 is 60% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Eco Wave Power Global AB and its competitors. For the Utilities - Independent Power Producers industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Eco Wave Power Global AB's current Piotroski F-Score is 2, which is 33% below median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Eco Wave Power Global AB stock overvalued right now?
Based on GuruFocus' analysis, Eco Wave Power Global AB (WAVE) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.54, compared to a current price of $8.72 — trading 466.2% above its estimated fair value. The current Piotroski F-Score is 2, which is 33% below median its 10-year median of 3.00 and 60% below the Utilities - Independent Power Producers industry median of 5.00. Eco Wave Power Global AB's overall GF Score™ is 39/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Eco Wave Power Global AB (WAVE), the current Piotroski F-Score is 2 as of Jun. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Eco Wave Power Global AB (WAVE) Overvalued in 2026?
Based on GuruFocus' analysis, Eco Wave Power Global AB stock appears to be overvalued.
The current stock price of $8.72 is trading 466.2% above its estimated GF Value™ of $1.54.
GuruFocus considers Eco Wave Power Global AB to be Significantly Overvalued.
Key valuation signals for WAVE:
Piotroski F-Score: 2 (33% below median its 10-year median of 3.00)
GF Value™: $1.54 vs. price of $8.72 (466.2% above fair value)
Industry Position: 60% below the Utilities - Independent Power Producers median (#390 of 417)
No single metric tells the full story. See the WAVE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Eco Wave Power Global AB is a Sweden-based wave energy company engaged in the development of a smart and cost-efficient wave energy conversion, or WEC, technology that converts ocean and sea waves into clean electricity. Its WEC technology employs units of point absorber floating devices, referred to as floaters, which are installed on existing marine structures such as piers, breakwaters, and jetties, or in locations in which such marine structures are required. Geographically, it has a presence in Israel, the USA, and Mexico.
39GF Score
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