What is Wave Life Sciences's cash ratio?

Wave Life Sciences (WVE) reported cash ratio of 10.9× in Q1 2026.

How has Wave Life Sciences's cash ratio changed year-over-year?

Wave Life Sciences's cash ratio increased by 292.8% year-over-year, from 2.8× to 10.9×.

What is the long-term trend for Wave Life Sciences's cash ratio?

Over 5 years (2020 to 2025), Wave Life Sciences's cash ratio has grown at a 33.0% compound annual growth rate (CAGR), from 1.5× to 6.3×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

Wave Life Sciences WVE Cash ratio

Cash ratio at other companies

Eli LillyLLY

0.1×0.0×

Sarepta Therapeutics, Inc.SRPT

0.9×+0.5×

Ionis PharmaceuticalsIONS

0.2×-0.8×

Madrigal Pharmaceuticals, Inc.MDGL

0.7×-0.4×

ALN

Alnylam PharmaceuticalsALNY

1.3×+0.3×

Beam TherapeuticsBEAM

3.9×+0.1×

Other financials

Income statement

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Revenue$38.2M+317%

Operating income-$31.3M+37.2%

Net income-$26.1M+44.4%

EPS (diluted)-$0.13+55.2%

Balance sheet

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Cash & equivalents$544.6M+124%

Total debt$15.7M-33.4%

Total equity$511.7M+198%

Total assets$583.5M+102%

Cash flow

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Operating cash flow-$59.6M+5.5%

CapEx$438.0K+165%

Free cash flow-$60.0M+5.1%

Valuation

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Market cap$1.14B+13.0%

Enterprise value$615.92M-22.3%

P/S15.1×-12.2×

Profitability

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Operating margin-75.7%-33.6pp

Net margin-66.5%-29.9pp

FCF margin-27.2%-12.6pp

Returns & leverage

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Return on equity-53.7%—

Debt / equity0×-0.1×

Current ratio11.3×+8.3×

Where this comes from

Calculated from Wave Life Sciences’s reported figures.

cash and equivalents/total current liabilities=10.9×

Based on the most recent quarter.

The official record: Wave Life Sciences’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Wave Life Sciences's cash ratio?: Wave Life Sciences (WVE) reported cash ratio of 10.9× in Q1 2026.
How has Wave Life Sciences's cash ratio changed year-over-year?: Wave Life Sciences's cash ratio increased by 292.8% year-over-year, from 2.8× to 10.9×.
What is the long-term trend for Wave Life Sciences's cash ratio?: Over 5 years (2020 to 2025), Wave Life Sciences's cash ratio has grown at a 33.0% compound annual growth rate (CAGR), from 1.5× to 6.3×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.