Forensic Analysis · Trading Companies & Distributors · as of Jul 30, 2026
Greenwave Technology Solutions, Inc. (GWAV)
A forensic read on Greenwave Technology Solutions, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-34.4
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-83.3%
ROE
40.1%
Revenue growth
Financial health / Altman Z-score above is based on book value, not market value — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Greenwave Technology Solutions, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -34.4, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-39.9%
FY2025
Return on invested capital.Return on invested capital is -39.9% in the latest fiscal year and slipping from -38% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
OCF ($2M)
FY2019
Shareholder returns.Returned $29M to shareholders (buybacks + dividends) in FY2019, while operating cash flow itself was ($2M) — zero or negative. Capex isn't disclosed for FY2019, but free cash flow can't have been positive when operating cash flow already isn't, so the entire return is coming from debt or cash reserves, not cash the business generated.
n/m (stock split)
FY2022–FY2025
Share count (stock split).Diluted share count changed -91% over the last 3 years to FY2025, but that includes a large one-time change around FY2023 consistent with a stock split or reverse split, not gradual buybacks or issuance — a split changes the count with NO effect on any holder's proportional ownership, so the raw -55.1%/yr figure isn't a real buyback/dilution read here.
$2M
FY2022–FY2022
Goodwill impairments.Took $2M of goodwill writedowns across 1 year (FY2022 ($2M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Latest Revenue$46.7M
Revenue Growth YoY+40.1%
Revenue CAGR (3yr)+11.1%
Net Margin-46.3%
Return on Equity-83.3%
Debt / Equity0.50x
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Greenwave Technology Solutions, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about GWAV's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown