One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Greenwave Technology Solutions, Inc.
GWAV · NCM · Industrials · Waste Management
Current price
$2.33
52-week range
$2.22 - $24.00
Market cap
$1.93M
Balance sheet
Distressed
-7.05x Concerning
Net debt $12.17M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 29.9% last year.
- Risk Return on equity was -56.7% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 1.6% (peer median: 13.0%).
What this company does
Greenwave Technology Solutions, Inc.
Greenwave Technology Solutions operates metal recycling facilities, essentially acting like a high-tech junkyard for old cars, appliances, and industrial machinery. The company makes money by sorting and processing this scrap to recover valuable metals like steel, copper, and aluminum, which it then sells to manufacturers. This is important because it provides the raw materials for new products, making Greenwave a key part of the supply chain (the network of companies involved in creating and distributing a product) for industries like car and steel manufacturing.
How the company got here
Greenwave Technology Solutions began its journey as a small hauling company started by its current CEO, Danny Meeks, with just a single truck when he was 18. He expanded the business by reinvesting the profits (the money left over after all expenses are paid). The company, through its subsidiary Empire Services, Inc., grew by acquiring independent, profitable scrap metal facilities and now operates 13 of them in Virginia, North Carolina, and Ohio. This growth was driven by a strong demand for scrap metal and strategic investments in new equipment to increase the volume of metal it can process. The company's focus has shifted entirely to scrap metal recycling after selling off its social media assets in 2021.
What it actually does
At its core, Greenwave takes in old metal items, breaks them down, and sells the raw materials to be made into new products. Think of old cars, appliances, construction debris, and industrial machinery that are no longer in use. The company collects, sorts, and processes these items at its recycling facilities. The final recycled metal is then sold to large industrial companies, like steel manufacturers, who use it to create new goods.
Scrap Metal Recycling
This is the main way Greenwave makes money. The company buys a wide range of scrap metal from various sources, including large corporations, manufacturers, and even individuals. It processes two main types of metal: ferrous metals, which contain iron and are the bulk of its business, and nonferrous metals like aluminum, copper, and stainless steel. A special part of this business involves recovering valuable precious metals like platinum and palladium from catalytic converters found in old cars.
Hauling
While recycling is the primary focus, the company also generates a portion of its income from hauling services. This involves the transportation of materials, which was the original business started by the CEO. This segment supports the main recycling business by moving scrap metal efficiently to the processing facilities. It represents a smaller part of the company's overall business compared to the direct sale of recycled metals.
What management is betting on now
Management is focused on expanding its capacity and efficiency to meet the growing demand for recycled metals. A key strategy is increasing sales to domestic (U.S.-based) companies, which they believe will improve their margins (the profit made on a sale). They are also investing in technology, like a downstream recovery system to capture tiny, valuable metal pieces from waste, and a mobile app called Scrap App to buy junk cars directly from the public. Additionally, the company is prioritizing government contracts and positioning itself to supply the increased demand from new domestic steel production facilities.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q1
$-4.37M
FY2025 Q2
$660.44K
FY2026 Q1
$1.25M
FY2026 Q2
$-370.39K
Revenue
$16.00M
Net income
$-3.24M
Diluted EPS
-3.91
Operating cash flow
$-370.39K
Free cash flow
$-370.39K
Fetching…
Sources
Revenue
$16.28M
Net income
$-1.50M
Diluted EPS
-1.81
Operating cash flow
$1.32M
Free cash flow
$1.25M
Fetching…
Sources
Revenue
$15.65M
Net income
$-6.74M
Diluted EPS
-5.49
Operating cash flow
$-115.15K
Free cash flow
—
Fetching…
Sources
Revenue
$12.68M
Net income
$-5.28M
Diluted EPS
-8.89
Operating cash flow
$-2.93M
Free cash flow
—
Fetching…
Sources
Revenue
$11.00M
Net income
$-4.92M
Diluted EPS
-8.98
Operating cash flow
$1.23M
Free cash flow
$660.44K
Fetching…
Sources
Revenue
$7.33M
Net income
$-4.67M
Diluted EPS
-17.85
Operating cash flow
$-4.16M
Free cash flow
$-4.37M
Fetching…
Sources
Revenue
$8.42M
Net income
$-18.38M
Diluted EPS
0.61
Operating cash flow
$-2.50M
Free cash flow
—
Fetching…
Sources
Revenue
$8.51M
Net income
$-4.80M
Diluted EPS
-0.26
Operating cash flow
$-671.22K
Free cash flow
—
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $2.33
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $12.2M. Interest coverage -7.1x.
Net debt
$12.17M
Interest coverage
-7.05x
Greenwave Technology Solutions, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
GWAV
BASELINE
Greenwave Technology Solutions, Inc.
Total debt $12.83M Interest coverage -7.05x This is the baseline the peer rows are being compared against.
Total debt $441.00K Interest coverage -21.31x Neither company has much profit cushion over interest right now.
Total debt $62.18M Interest coverage -0.04x Neither company has much profit cushion over interest right now.
Total debt $6.13M Interest coverage -127.41x Neither company has much profit cushion over interest right now.
What you should know
The case for and against GWAV
1 Reward
2 Risks
Rewards
-
Revenue grew 29.9% last year.
Risks
-
Return on equity was -56.7% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 1.6% (peer median: 13.0%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
—
P/B
0.09x
P/S
0.03x
EV/EBITDA
-2.12x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
20.4%
Operating margin
-17.8%
Net margin
-27.7%
ROE
-56.7%
ROA
-16.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.61x
Current ratio
0.23x
Quick ratio
0.08x
Total debt
$12.83M
Total cash
$654.99K
Growth
How the business has been compounding
Revenue TTM
$60.60M
Revenue 5Y CAGR
54.9%
EPS TTM
-18.80
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-2.10M
Free CF TTM
$-9.56M
FCF margin
-15.8%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—