1. Thailand Stocks

  2. •

    Consumer Defensive

  3. •

    Education & Training Services
Wave Exponential Public Company Limited

Wave Exponential Public Company Limited

WAVE.BK
Wave Exponential Public Company LimitedTH flagStock Exchange of Thailand
0.03
THB
- -
- -
343.89MMarket Cap
Wave Exponential Public Company Limited
WAVE.BK
(Stock Exchange of Thailand)

Recent

price

0.03

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.09
0.12
0.1
0.19
0.43
1.47
1.41
1.25
0.54
0.53
0.24
0.09
0.12
0.05
0.04
0.04
0.03
Revenue per Share
- -
-0.01
- -
0.01
0.15
0.02
0.03
-0.14
-0.09
-0.03
-0.11
-0.23
-0.03
- -
-0.13
0.05
- -
Basic EPS, GAAP
-0.04
-0.01
-0.01
0.01
0.02
-0.05
-0.08
-0.1
-0.06
0.02
0.1
0.02
-0.11
-0.08
-0.03
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.03
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
0.07
0.05
0.05
0.05
0.2
0.44
0.42
0.25
0.17
0.14
0.23
-0.09
1.65
0.48
0.39
0.4
0.4
Book Value per Share
0.31
0.31
0.31
0.31
-0.46
-0.23
0.22
0.08
0.12
0.27
-0.02
-0.02
0.28
0.09
-0.06
- -
- -
Tangible Book Value per Share
1,477
1,477
1,477
1,477
1,477
1,477
1,819
1,921
2,083
2,067
1,893
3,050
2,432
8,866
10,451
11,458
11,459
Basic Weighted Avg Shares
130
181
150
284
634
2,169
2,561
2,407
1,123
1,087
455
286
286
448
468
404
397
Sales/Revenue/Turnover
-18.32
-12.28
-13.56
2.49
-13.04
0.62
-4.37
-11.08
-18.95
-10.08
-5.13
-20.94
-40.1
-7.2
-176.43
126.2
57.91
Operating Margin (%)
6
6
5
1
44
163
212
195
202
166
231
152
65
54
56
54
53
Depreciation Expense
3
-13
-4
8
220
35
57
-268
-189
-64
-201
-693
-66
-16
-1,322
524
-8
Net Income, GAAP
3.44
- -
- -
11.02
0.05
24.19
43.54
- -
- -
- -
- -
- -
- -
- -
- -
0.17
0.03
Effective Tax Rate (%)
2.66
-7.16
-2.9
2.73
34.7
1.62
2.22
-11.15
-16.79
-5.9
-44.2
-242.19
-23
-3.55
-282.32
129.76
-1.95
Profit Margin (%)
395
306
233
135
-195
-635
32
-418
-516
170
-325
-414
534
1,003
-164
-15
-24
Working Capital
- -
- -
- -
7
1,154
1,078
846
610
515
271
297
86
27
22
60
84
76
LT Debt
472
459
455
462
683
1,214
1,582
1,313
1,414
1,530
819
130
868
1,032
-461
233
219
Total Equity
-4.88
- -
- -
1.36
-6.79
0.41
-2.19
- -
- -
- -
- -
- -
- -
- -
- -
5,277.52
60.62
Return on Invested Capital (%)
3.43
- -
- -
10.16
29.8
3.78
4.87
- -
- -
- -
- -
- -
- -
- -
- -
8.85
-3.74
Return on Capital (%)
3.43
-14.83
-6.19
10.75
118.22
7.46
8.11
-43.05
-45.13
-20.15
-55.61
- -
- -
-0.38
-31.49
12.02
-0.17
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
58
60
62
LT Borrowings
- -
- -
- -
LT Finance Leases
85
84
76
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
11,456
11,456
11,463
Market Capitalization
458
344
344

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
636
222
214
Cash, Cash Equivalents & STI
14
5
1
Accounts Receivable, Net
7
9
9
Inventories
472
101
95
Total Current Liabilities
257
238
239
Payables & Accruals
53
48
57
ST Debt
58
60
62
Deferred Revenue
142
127
118

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.85%
41.15%
-150.57%
Free Cash Flow
-11.28%
-100.05%
-101.15%
Net Income, GAAP
776.14%
1,630.48%
-139.67%
Sales/Revenue/Turnover
-9.23%
2.06%
-13.7%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
118
116
126
107
468
2025
103
95
104
101
404
2026
96
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
-0.13
2025
- -
- -
- -
- -
0.05
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Wave Exponential Public Company Limited operates as an investment holding and service company engaged primarily in language education, integrated carbon credit consulting, and wellness healthcare businesses in Thailand. The company offers English language instruction through its Wall Street English brand; provides integrated carbon credit services including consulting and advisory, climate projects, sustainable agriculture, carbon trading and brokerage, and marketing; and develops human health and wellness products while cultivating medical cannabis crops in greenhouses for treatment purposes. Founded in 1988 and headquartered in Bangkok, Wave Exponential operates through its subsidiaries across these sectors. In recent years, Wave Exponential has undergone strategic shifts, including expanding its business base with emphasis on integrated carbon credit and carbon footprint management consulting, identified as a new growth segment. Key developments include the company's name change from Wave Entertainment Public Company Limited to its current name in May 2023, and ongoing efforts to grow its carbon offsetting and sustainability service offerings, including carbon emission verification and renewable energy certificates brokerage. The company also pursues growth in wellness healthcare products and investment in medical cannabis cultivation. Operationally, Wave Exponential has focused on cost efficiency and business model diversification amid economic challenges. The company's services support corporate clients in Thailand and Southeast Asia with comprehensive carbon neutrality and net zero emissions target achievement through end-to-end climate solutions such as decarbonization roadmaps, carbon footprint calculations, verification, green financing, and climate project facilitation. Its language education segment targets both local and international learners with English and newly expanded Chinese language programs. Wave Exponential maintains commitment to sustainable growth by broadening its client base in multiple industries subject to increasing environmental regulations and wellness trends. Wave Exponential Public Company Limited is listed on the Stock Exchange of Thailand under ticker WAVE.BK and continues to strengthen its market presence through innovation in sustainable service segments and strategic partnerships. The company remains headquartered in Bangkok, Thailand.