WVENasdaqPharmaceutical PreparationsFiscal year ends December 31
Wave Life Sciences, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$3.17+0.04 (+1.28%)
Close on Oct 19, 2026
- Market cap
- $646.71M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2025
Operating margin
-504.1%+259.9 pts over 5 years
Net margin
-478.3%+268.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -60.5% | +127.1% | +16.3% | +75.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -38.6% | -204.6% | -56.2% | |
| Return on assets | -33.7% | -53.2% | -41.3% | |
| Current ratio | 12.50 | 1.90 | 6.47 | |
| Capex to revenue | 509.8% | 6.7% | 1.7% | |
| Diluted shares | 23M | 39M | 169M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Wave Life Sciences generated $574.72M from operations and spent $4.69M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$574.72M
Used
$4.69M
Capital expenditure$4.69M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-478.3%
×Asset turnover0.09×
×Equity multiplier1.36×
=Return on equity, FY2025-56.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -478.3% | 0.09× | 1.36× | -56.2% |
| FY2024 | -89.6% | 0.35× | 2.52× | -77.9% |
| FY2023 | -50.8% | 0.54× | -77.15× | 2106.3% |
| FY2022 | -4434.7% | 0.02× | -28.06× | 2570.0% |
| FY2021 | -298.4% | 0.17× | 4.22× | -212.1% |
| FY2020 | -746.7% | 0.07× | 3.85× | -204.6% |
| FY2019 | -1211.5% | 0.06× | 4.23× | -282.5% |
| FY2018 | -1017.4% | 0.06× | 2.24× | -137.7% |
| FY2017 | -2619.6% | 0.02× | 1.26× | -74.4% |
| FY2016 | -5097.1% | 0.01× | 1.15× | -38.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$204.38M
- Cash generatingOperating cash flow above zero-$187.49M
- Return on assets improvedROA up on the prior year-35.3% → -58.0%
- Earnings backed by cashOperating cash flow above net income-$187.49M vs -$204.38M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.89 → 6.47
- No dilutionShare count did not rise138M → 169M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.39 → 0.12