GWAV (Greenwave Technology Solutions) Operating Income: $-20.02 Mil (TTM As of Dec. 2025)

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Greenwave Technology Solutions Inc GWAV

40 GF Score

Price $2.90

GF Value $5.51

Valuation Possible Value Trap

7 Warning Signs

View Full Analysis

What is Greenwave Technology Solutions Operating Income?

Greenwave Technology Solutions GWAV -2.36% 40 Operating Income is $-20.02 Mil as of Dec. 2025. GuruFocus rates GWAV with a GF Score™ of 40/100 and a GF Value™ of $5.51 (Possible Value Trap). The stock has 7 warning signs investors should review.

Greenwave Technology Solutions's Operating Income for the three months ended in Dec. 2025 was $-6.32 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $-20.02 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Greenwave Technology Solutions's Operating Income for the three months ended in Dec. 2025 was $-6.32 Mil. Greenwave Technology Solutions's Revenue for the three months ended in Dec. 2025 was $15.61 Mil. Therefore, Greenwave Technology Solutions's Operating Margin % for the quarter that ended in Dec. 2025 was -40.50%.

Good Sign:

Greenwave Technology Solutions Inc operating margin is expanding. Margin expansion is usually a good sign.

Greenwave Technology Solutions's 5-Year average Growth Rate for Operating Margin % was 55.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Greenwave Technology Solutions's annualized ROC % for the quarter that ended in Dec. 2025 was -42.72%. Greenwave Technology Solutions's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -68.46%.

Greenwave Technology Solutions (NAS:GWAV) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Greenwave Technology Solutions's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

	ROC % (Q: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	-25.292 * ( 1 - 0% )	/	( (60.445	+	57.977)	/ 2 )
=	-25.292	/	59.211
=	-42.72 %

where

	Invested Capital		(Q: Sep. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	59.851	-	13.121	-	( 1.45	-	max(0, 20.74	-	7.025	+	1.45	))
=	60.445

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	55.169	-	15.532	-	( 0.936	-	max(0, 23.158	-	4.818	+	0.936	))
=	57.977

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Greenwave Technology Solutions's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-25.476	/	( ( (38.079 + max(-7.546, 0))	+	(36.343 + max(-11.65, 0)) )	/	2 )
=	-25.476	/	( ( 38.079	+	36.343 )	/	2 )
=	-25.476	/	37.211
=	-68.46 %

where Working Capital is:

	Working Capital		(Q: Sep. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.869	+	2.777	+	0.929)	-	(13.121	+	0	+	-3.5527136788005E-15)
=	-7.546

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.117	+	2.241	+	0.524)	-	(15.532	+	0	+	0)
=	-11.65

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Greenwave Technology Solutions's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2025 )	/	Revenue (Q: Dec. 2025 )
	=	-6.323	/	15.611
	=	-40.50 %

* 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.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Greenwave Technology Solutions Operating Income Related Terms

Greenwave Technology Solutions Operating Income Historical Data

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The historical data trend for Greenwave Technology Solutions's Operating Income can be seen below:

Greenwave Technology Solutions Operating Income Chart

Greenwave Technology Solutions Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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-2.93

-8.38

-9.30

-18.48

-20.02

Greenwave Technology Solutions Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25
Operating Income	Get a 7-Day Free Trial															-2.27	-3.92	-4.56	-5.22	-6.32

40GF Score

Greenwave Technology Solutions Inc GWAV

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Greenwave Technology Solutions Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was $-20.02 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $-20.02 Mil mean?

Greenwave Technology Solutions (GWAV) has a Operating Income of $-20.02 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Greenwave Technology Solutions and its competitors.

Is Greenwave Technology Solutions' Operating Income too high?

Greenwave Technology Solutions' current Operating Income is $-20.02 Mil. Overall, Greenwave Technology Solutions has a GF Score™ of 40/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Greenwave Technology Solutions' Operating Income compare to SENR and SNRG?

Greenwave Technology Solutions' Operating Income of $-20.02 Mil can be compared against companies in the Waste Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Waste Management company?

A good Operating Income depends on the Waste Management industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Greenwave Technology Solutions and its competitors. Greenwave Technology Solutions's current Operating Income is $-20.02 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Greenwave Technology Solutions stock overvalued right now?

Based on GuruFocus' analysis, Greenwave Technology Solutions (GWAV) is currently considered Possible Value Trap. The stock's GF Value™ is $5.51, compared to a current price of $2.90 — trading 47.4% below its estimated fair value. The current Operating Income is $-20.02 Mil. Greenwave Technology Solutions' overall GF Score™ is 40/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Greenwave Technology Solutions (GWAV), the current Operating Income is $-20.02 Mil as of Dec. 2025. 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 Greenwave Technology Solutions (GWAV) Overvalued in 2026?

Based on GuruFocus' analysis, Greenwave Technology Solutions stock appears to be undervalued. The current stock price of $2.90 is trading 47.4% below its estimated GF Value™ of $5.51. GuruFocus considers Greenwave Technology Solutions to be Possible Value Trap.

Key valuation signals for GWAV:

Operating Income: $-20.02 Mil
GF Value™: $5.51 vs. price of $2.90 (47.4% below fair value)
GF Score™: 40/100 with 7 warning signs

No single metric tells the full story. See the GWAV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Greenwave Technology Solutions Business Description

Industry Industrials Waste Management

Comparable Companies SENR SNRG DXST AMBIQ WAST CDTG OCLN AQMS AWX WM RSG WCN XPAR:VIE CLH GFL XMAD:FCC CWST XBRU:UMI SZSE:002340 SHSE:603568

Address 4016 Raintree Road, Suite 300, Chesapeake, VA, USA, 23321

Website https://www.gwav.com

Greenwave Technology Solutions Inc through its subsidiary, is an operator of several metal recycling facilities in Virginia, Ohio, & North Carolina. At these facilities, the company collects, classifies, & processes appliances, construction materials, end-of-life vehicles, boats, & industrial machinery. The company processes these items by crushing, shearing, shredding, separating, & sorting into smaller pieces & categorizes these recycled ferrous, nonferrous, & mixed metal pieces based on density & metal type before sale. For scrap cars, it removes the catalytic converters, aluminum wheels, & batteries for separate processing & sale before shredding the vehicle. The company is organized into three operating segments: Scrap Metal Recycling, Hauling, & Other (comprised of rental income).

40GF Score

Get the complete analysis for GWAV

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$2.90

Price

$5.51

GF Value

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