12 years of historical data (2013–2024) · Healthcare · Biotechnology
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Wave Life Sciences Ltd. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.2B | $1.7B | $536M | $552M | $163M | $309M | $272M | $1.2B | $931M | $596M | $344M |
| Enterprise Value | $2.0B | $1.4B | $368M | $501M | $42M | $154M | $157M | $1.1B | $792M | $446M | $183M |
| P/E Ratio → | -19.90 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 20.62 | 15.79 | 4.73 | 151.27 | 3.97 | 15.38 | 16.99 | 84.50 | 251.25 | 401.51 | 2261.48 |
| P/B Ratio | 9.19 | 8.16 | 13.52 | — | 5.01 | 3.41 | 3.79 | 16.60 | 6.66 | 4.42 | 2.24 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 13.24 | 3.24 | 137.33 | 1.03 | 7.65 | 9.82 | 73.09 | 213.71 | 300.35 | 1201.74 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Wave Life Sciences Ltd. earns an operating margin of -101.9%. Operating margins have expanded from -4459.3% to -101.9% over the past 3 years, signaling improving operational efficiency. A negative ROE of -77.9% indicates the company is currently destroying shareholder equity.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -552.2% | -997.6% | -832.6% | -2041.2% | 73.5% | -5858.6% |
| Operating Margin | -101.9% | -101.9% | -60.0% | -4459.3% | -310.1% | -763.9% | -1303.4% | -1106.7% | -2769.4% | -3725.7% | -12696.1% |
| Net Profit Margin | -89.6% | -89.6% | -50.8% | -4434.7% | -298.4% | -746.7% | -1211.5% | -1017.4% | -2754.7% | -3730.7% | -12631.6% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -77.9% | -77.9% | -145.1% | — | -198.5% | -184.8% | -267.2% | -137.6% | -74.3% | -38.4% | -24.7% |
| ROA | -30.9% | -30.9% | -27.3% | -91.6% | -50.3% | -53.2% | -66.7% | -61.4% | -58.9% | -33.6% | -22.8% |
| ROIC | — | — | — | — | — | — | — | — | -10056.9% | — | — |
| ROCE | -67.0% | -67.0% | -83.2% | -149.5% | -84.4% | -94.6% | -125.5% | -97.2% | -65.2% | -35.2% | -23.6% |
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $302M exceeds total debt of $25M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.81 | — | 0.92 | 0.32 | 0.45 | 0.14 | 0.02 | 0.00 | 0.00 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.32 | -4.25 | — | -3.71 | -1.71 | -1.60 | -2.24 | -0.99 | -1.11 | -1.05 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | -9586.06 | — | -7251.05 | -17096.67 | -164.18 | -224.40 |
Net cash position: cash ($302M) exceeds total debt ($25M)
Short-term solvency ratios and asset-utilisation metrics
Wave Life Sciences Ltd.'s current ratio of 2.89x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.38x to 2.89x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.89 | 2.89 | 1.26 | 1.38 | 2.53 | 1.90 | 1.57 | 1.56 | 7.67 | 12.50 | 42.27 |
| Quick Ratio | 2.89 | 2.89 | 1.26 | 1.38 | 2.53 | 1.90 | 1.57 | 1.56 | 7.67 | 12.50 | 42.27 |
| Cash Ratio | 2.72 | 2.72 | 1.07 | 1.24 | 2.35 | 1.52 | 1.25 | 1.34 | 7.26 | 12.36 | 42.23 |
| Asset Turnover | — | 0.31 | 0.41 | 0.02 | 0.20 | 0.07 | 0.06 | 0.05 | 0.02 | 0.01 | 0.00 |
| Inventory Turnover | 14.34 | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 4.79 | 67.93 | — | — | 545.40 | 456.74 | 253.23 | 98.54 | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Wave Life Sciences Ltd. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $138M | $106M | $79M | $52M | $39M | $34M | $29M | $27M | $23M | $22M |
Compare WVE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| WVEYou | $2B | -19.9 | — | — | 100.0% | -101.9% | -77.9% | — | — |
| ALNY | $44B | 142.9 | 81.4 | 94.7 | 81.8% | 13.5% | 73.3% | 19.1% | 5.3 |
| IONS | $13B | -34.1 | — | — | 98.3% | -40.5% | -70.7% | -12.2% | — |
| ARWR | $9B | -5186.1 | 76.1 | 55.4 | 97.1% | 11.9% | -0.5% | 7.2% | 6.9 |
| CRSP | $6B | -9.3 | — | — | -2642.3% | -18933.6% | -30.2% | -27.4% | — |
| BEAM | $3B | -35.1 | — | — | 84.0% | -274.6% | -8.1% | -33.6% | — |
| RNA | $2B | -3.0 | — | — | 77.9% | -3977.3% | -44.0% | -42.8% | — |
| STOK | $2B | -22.1 | — | — | 100.0% | -277.3% | -45.8% | -206.8% | — |
| NTLA | $2B | -3.6 | — | — | — | — | -53.5% | — | — |
| ABUS | $895M | -12.3 | — | — | 100.0% | -1236.7% | -68.8% | -75.9% | — |
| PRME | $833M | -2.8 | — | — | 100.0% | -6787.4% | -136.9% | -260.5% | — |
| Healthcare Median | — | 23.7 | 13.8 | 18.8 | 65.8% | -6.3% | -37.3% | -15.0% | 3.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 12 years · Updated daily
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View ValuationSee how WVE stacks up against sector leader Alnylam Pharmaceuticals, Inc..
Start ComparisonWave Life Sciences Ltd.'s current P/E ratio is -19.9x. This places it at the 50th percentile of its historical range.
Wave Life Sciences Ltd.'s return on equity (ROE) is -77.9%. The historical average is -140.6%.
Based on historical data, Wave Life Sciences Ltd. is trading at a P/E of -19.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Wave Life Sciences Ltd. has 100.0% gross margin and -101.9% operating margin.