Comprehensive Stock Comparison
Compare ReNew Energy Global Plc (RNW) vs Eco Wave Power Global AB (publ) (WAVE) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | RNW | 19.4% revenue growth vs WAVE's -45.1% |
| Quality / Margins | RNW | 9.2% net margin vs WAVE's -17.6% |
| Stability / Safety | RNW | Beta 0.52 vs WAVE's 0.74 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | RNW | -12.4% vs WAVE's -33.6% |
| Efficiency (ROA) | RNW | 1.2% ROA vs WAVE's -31.5%, ROIC 4.9% vs -53.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
ReNew Energy Global is a leading Indian renewable energy company that develops, builds, owns, and operates utility-scale wind and solar power projects. It generates revenue primarily through long-term power purchase agreements — selling electricity to utilities and commercial customers — supplemented by engineering and maintenance services. The company's competitive advantage lies in its massive scale as India's largest renewable energy developer, with a diversified portfolio across wind and solar that benefits from India's ambitious clean energy transition.
Eco Wave Power Global is a wave energy company that develops technology to convert ocean and sea waves into clean electricity. It makes money primarily through power purchase agreements and concession agreements for its wave energy projects, with a development pipeline of approximately 405 megawatts across multiple countries. The company's key advantage is its proprietary wave energy conversion technology and its portfolio of international agreements that provide exclusive access to prime wave energy locations.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
RNW leads in 5 of 6 categories — strongest in Financial Metrics and Valuation Metrics.
Financial Metrics (TTM)
RNW is the larger business by revenue, generating $129.7B annually — 771773.2x WAVE's $168,000. RNW is the more profitable business, keeping 9.2% of every revenue dollar as net income compared to WAVE's -17.6%.
| Metric | RNWReNew Energy Glob… | WAVEEco Wave Power Gl… |
|---|---|---|
| RevenueTrailing 12 months | $129.7B | $168,000 |
| EBITDAEarnings before interest/tax | $86.9B | -$2M |
| Net IncomeAfter-tax profit | $12.0B | -$3M |
| Free Cash FlowCash after capex | -$23.8B | $0 |
| Gross MarginGross profit ÷ Revenue | +77.9% | +75.0% |
| Operating MarginEBIT ÷ Revenue | +48.4% | -15.3% |
| Net MarginNet income ÷ Revenue | +9.2% | -17.6% |
| FCF MarginFCF ÷ Revenue | -18.4% | +6.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +37.2% | — |
| EPS Growth (YoY)Latest quarter vs prior year | +94.8% | -177.8% |
Valuation Metrics
| Metric | RNWReNew Energy Glob… | WAVEEco Wave Power Gl… |
|---|---|---|
| Market CapShares × price | $1.4B | $29M |
| Enterprise ValueMkt cap + debt − cash | $9.0B | $23M |
| Trailing P/EPrice ÷ TTM EPS | 46.02x | -13.49x |
| Forward P/EPrice ÷ next-FY EPS est. | 0.36x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 11.23x | — |
| Price / SalesMarket cap ÷ Revenue | 1.27x | 173.14x |
| Price / BookPrice ÷ Book value/share | 1.40x | 3.33x |
| Price / FCFMarket cap ÷ FCF | — | 26.23x |
Profitability & Efficiency
RNW delivers a 8.4% return on equity — every $100 of shareholder capital generates $8 in annual profit, vs $-43 for WAVE. WAVE carries lower financial leverage with a 0.16x debt-to-equity ratio, signaling a more conservative balance sheet compared to RNW's 5.59x. On the Piotroski fundamental quality scale (0–9), RNW scores 4/9 vs WAVE's 3/9, reflecting mixed financial health.
| Metric | RNWReNew Energy Glob… | WAVEEco Wave Power Gl… |
|---|---|---|
| ROE (TTM)Return on equity | +8.4% | -42.8% |
| ROA (TTM)Return on assets | +1.2% | -31.5% |
| ROICReturn on invested capital | +4.9% | -53.8% |
| ROCEReturn on capital employed | +6.9% | -28.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 3 |
| Debt / EquityFinancial leverage | 5.59x | 0.16x |
| Net DebtTotal debt minus cash | $691.9B | -$7M |
| Cash & Equiv.Liquid assets | $40.4B | $8M |
| Total DebtShort + long-term debt | $732.3B | $1M |
| Interest CoverageEBIT ÷ Interest expense | 86.76x | -38.41x |
Total Returns (with DRIP)
A $10,000 investment in RNW five years ago would be worth $5,036 today (with dividends reinvested), compared to $2,656 for WAVE. Over the past 12 months, RNW leads with a -12.4% total return vs WAVE's -33.6%. The 3-year compound annual growth rate (CAGR) favors WAVE at 11.7% vs RNW's 8.3% — a key indicator of consistent wealth creation.
| Metric | RNWReNew Energy Glob… | WAVEEco Wave Power Gl… |
|---|---|---|
| YTD ReturnYear-to-date | -5.8% | -17.1% |
| 1-Year ReturnPast 12 months | -12.4% | -33.6% |
| 3-Year ReturnCumulative with dividends | +27.2% | +39.3% |
| 5-Year ReturnCumulative with dividends | -49.6% | -73.4% |
| 10-Year ReturnCumulative with dividends | -49.4% | -73.4% |
| CAGR (3Y)Annualised 3-year return | +8.3% | +11.7% |
Risk & Volatility
RNW is the less volatile stock with a 0.52 beta — it tends to amplify market swings less than WAVE's 0.74 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. RNW currently trades 67.0% from its 52-week high vs WAVE's 50.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | RNWReNew Energy Glob… | WAVEEco Wave Power Gl… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.52x | 0.74x |
| 52-Week HighHighest price in past year | $8.24 | $9.87 |
| 52-Week LowLowest price in past year | $5.04 | $4.41 |
| % of 52W HighCurrent price vs 52-week peak | +67.0% | +50.6% |
| RSI (14)Momentum oscillator 0–100 | 54.2 | 41.1 |
| Avg Volume (50D)Average daily shares traded | 780K | 10K |
Analyst Outlook
| Metric | RNWReNew Energy Glob… | WAVEEco Wave Power Gl… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | — |
| Price TargetConsensus 12-month target | $6.52 | — |
| # AnalystsCovering analysts | 6 | — |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Aug 21 | Feb 26 | Change |
|---|---|---|---|
| ReNew Energy Global… (RNW) | 100 | 54.32 | -45.7% |
| Eco Wave Power Glob… (WAVE) | 43.96 | 25.97 | -40.9% |
ReNew Energy Global… (RNW) returned -50% over 5 years vs Eco Wave Power Glob… (WAVE)'s -73%.
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| ReNew Energy Global… (RNW) | $6.1B | $97.1B | +1481.8% |
| Eco Wave Power Glob… (WAVE) | $21712.00 | $168000.00 | +673.8% |
ReNew Energy Global Plc's revenue grew from $6.1B (2015) to $97.1B (2024) — a 35.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| ReNew Energy Global… (RNW) | 13.3% | 3.9% | -70.5% |
| Eco Wave Power Glob… (WAVE) | -44.4% | -12.4% | +72.1% |
ReNew Energy Global Plc's net margin went from 13% (2015) to 4% (2024).
Chart 4EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| ReNew Energy Global… (RNW) | 3.42 | 10.92 | +219.3% |
| Eco Wave Power Glob… (WAVE) | -0.2 | -0.37 | -85.0% |
ReNew Energy Global Plc's EPS grew from $3.42 (2015) to $10.92 (2024) — a 14% CAGR.
Chart 5Free Cash Flow — 5 Years
ReNew Energy Global Plc generated $-26B FCF in 2024 (+45% vs 2021). Eco Wave Power Global AB (publ) generated $1M FCF in 2024 (+142% vs 2021).
RNW vs WAVE: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is RNW or WAVE a better buy right now?
ReNew Energy Global Plc (RNW) offers the better valuation at 46.0x trailing P/E (0.4x forward), making it the more compelling value choice. Analysts rate ReNew Energy Global Plc (RNW) a "Buy" — based on 6 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — RNW or WAVE?
Over the past 5 years, ReNew Energy Global Plc (RNW) delivered a total return of -49.6%, compared to -73.4% for Eco Wave Power Global AB (publ) (WAVE). A $10,000 investment in RNW five years ago would be worth approximately $5K today (assuming dividends reinvested). Over 10 years, the gap is even starker: RNW returned -49.4% versus WAVE's -73.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — RNW or WAVE?
By beta (market sensitivity over 5 years), ReNew Energy Global Plc (RNW) is the lower-risk stock at 0.52β versus Eco Wave Power Global AB (publ)'s 0.74β — meaning WAVE is approximately 43% more volatile than RNW relative to the S&P 500. On balance sheet safety, Eco Wave Power Global AB (publ) (WAVE) carries a lower debt/equity ratio of 16% versus 6% for ReNew Energy Global Plc — giving it more financial flexibility in a downturn.
04Which has better profit margins — RNW or WAVE?
ReNew Energy Global Plc (RNW) is the more profitable company, earning 3.9% net margin versus -1236.3% for Eco Wave Power Global AB (publ) — meaning it keeps 3.9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: RNW leads at 53.5% versus -1391.7% for WAVE. At the gross margin level — before operating expenses — RNW leads at 91.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — RNW or WAVE?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is RNW or WAVE better for a retirement portfolio?
For long-horizon retirement investors, ReNew Energy Global Plc (RNW) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.52)). Both have compounded well over 10 years (RNW: -49.4%, WAVE: -73.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between RNW and WAVE?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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