Wave Life Sciences Ltd. — Earnings Quality Grade C
WVE · Healthcare
Some red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 11 days, change +6 days YoY
AR growth -10.3% vs revenue growth -60.5%
Revenue -60.5%, CFFO -24.1%. Cash follows revenue
Expense Quality
No material inventory
CapEx growth -23.5% vs revenue -60.5%. Normal
Insufficient data
Insufficient data
Cash Flow Quality
CFFO/NI = 0.92. Profits backed by cash
FCF is negative ($-0.2B)
Accruals ratio = -2.6%. Low accruals
Cash $0.6B covers debt $0.0B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = -0.1x. Healthy
Other assets 0.2% vs revenue -60.5%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Small-cap context: A single acquisition on a small balance sheet can trip serial-acquirer logic.
No goodwill
Manipulation Score
Insufficient data
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25