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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
WAVE Life SciencesWVE -1.19%59 Return-on-Tangible-Asset is -17.08% as of Mar. 2026. GuruFocus rates WVE with a GF Score™ of 59/100 and a GF Value™ of $4.29 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,415 Biotechnology companies, WAVE Life Sciences ranks worse than 57.53% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. WAVE Life Sciences's annualizedNet Income for the quarter that ended in Mar. 2026 was $-104.35 Mil. WAVE Life Sciences's average total tangible assets for the quarter that ended in Mar. 2026 was $611.02 Mil. Therefore, WAVE Life Sciences's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -17.08%.
The historical rank and industry rank for WAVE Life Sciences's Return-on-Tangible-Asset or its related term are showing as below:
WVE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -91.58 Med: -51.75 Max: -27.3
Current: -45.8
During the past 13 years, WAVE Life Sciences's highest Return-on-Tangible-Asset was -27.30%. The lowest was -91.58%. And the median was -51.75%.
WVE's Return-on-Tangible-Asset is ranked worse than 57.53% of 1415
companies
in the Biotechnology industry
Industry Median: -35.49
vs WVE: -45.80
WAVE Life Sciences (NAS:WVE) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
WAVE Life Sciences Return-on-Tangible-Asset Related Terms
WAVE Life Sciences Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for WAVE Life Sciences's Return-on-Tangible-Asset can be seen below:
* 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.
WVE vs FBRX, SVRA, SPTX: Return-on-Tangible-Asset Comparison
For the Biotechnology subindustry, WAVE Life Sciences's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.
WAVE Life Sciences Return-on-Tangible-Asset vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, WAVE Life Sciences's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where WAVE Life Sciences's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of -17.08% mean?
WAVE Life Sciences (WVE) has a Return-on-Tangible-Asset of -17.08% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on WAVE Life Sciences and its competitors. According to the industry distribution chart, WAVE Life Sciences ranks #814 out of 1415 companies in the Biotechnology industry, placing it in the top 57.5%.
Is WAVE Life Sciences' Return-on-Tangible-Asset too high?
WAVE Life Sciences' current Return-on-Tangible-Asset is -17.08%. Based on the distribution chart, WAVE Life Sciences ranks #814 out of 1415 companies in the Biotechnology industry, which is below the industry midpoint. Overall, WAVE Life Sciences has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WAVE Life Sciences' Return-on-Tangible-Asset compare to FBRX and SVRA?
According to the Biotechnology industry distribution chart, WAVE Life Sciences ranks #814 out of 1415 companies for Return-on-Tangible-Asset. This places WAVE Life Sciences in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Biotechnology company?
A good Return-on-Tangible-Asset depends on the Biotechnology industry context. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on WAVE Life Sciences and its competitors. WAVE Life Sciences's current Return-on-Tangible-Asset is -17.08%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAVE Life Sciences stock overvalued right now?
Based on GuruFocus' analysis, WAVE Life Sciences (WVE) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.29, compared to a current price of $5.82 — trading 35.5% above its estimated fair value. The current Return-on-Tangible-Asset is -17.08%. WAVE Life Sciences' overall GF Score™ is 59/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For WAVE Life Sciences (WVE), the current Return-on-Tangible-Asset is -17.08% as of Mar. 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 WAVE Life Sciences (WVE) Overvalued in 2026?
Based on GuruFocus' analysis, WAVE Life Sciences stock appears to be overvalued.
The current stock price of $5.82 is trading 35.5% above its estimated GF Value™ of $4.29.
GuruFocus considers WAVE Life Sciences to be Significantly Overvalued.
Key valuation signals for WVE:
Return-on-Tangible-Asset: -17.08%
GF Value™: $4.29 vs. price of $5.82 (35.5% above fair value)
No single metric tells the full story. See the WVE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAVE Life Sciences Ltd is a clinical-stage biotechnology company focused on unlocking the broad potential of RNA medicines also known as oligonucleotides, targeting ribonucleic acid (RNA), to transform human health. RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders. Its toolkit of RNA-targeting modalities includes RNA editing, antisense silencing, and RNA interference, providing capabilities for designing and sustainably delivering candidates that optimally address disease biology. Its programs are for rare and prevalent diseases, including alpha-1 antitrypsin deficiency, obesity, Duchenne muscular dystrophy, and Huntington's disease.
59GF Score
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