Wallbox N.V.
WBXNYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $2.45 Prior regular-session close from the quote source.
- $2.09–$2.59 Regular-session low and high so far today.
- 33.4K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $2.09–$6.18 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own WBX if continued EV charger demand converts into higher-margin, recurring software/services and manufacturing scale fast enough to stop cash burn and produce positive operating cash flow before equity is diluted.
WBX price history
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Investment thesis
What must happen next
EV charger demand will keep Wallbox’s revenue growing year-over-year in the near term, allowing the company to scale fixed costs and improve margins if product mix and channels hold.HoldingMateriality: High
revenue increased to EUR 163,943,000 in FY 2024 from EUR 143,769,000 in FY 2023 (fundamentals: revenue fields for 2023 and 2024). Sustained revenue growth is the precondition for operating leverage; without it Wallbox cannot spread fixed R&D/manufacturing overhead and cannot reach profitability.
Watch: Competitors (e.g., ChargePoint, EVBox, OEM captive chargers and low-cost Chinese makers) could accelerate price-led share gains, compressing Wallbox unit economics before scale.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
revenue increased to EUR 163,943,000 in FY 2024 from EUR 143,769,000 in FY 2023 (fundamentals: revenue fields for 2023 and.
Open source ↗Wallbox’s operating losses are primarily a function of scale and opex; if revenue growth continues and management slows structural opex or achieves lower unit costs, operating_income can move toward breakeven.HoldingMateriality: High
operating_income improved from EUR -138,835,000 in 2022 to EUR -106,941,000 in 2023, showing some operating leverage before worsening in 2024 (EUR -133,817,000), indicating sensitivity to cost and scale. Improving operating_income is the causal route to durable value—revenue without operating leverage leaves the company dependent on capital markets.
Watch: Sustained high R&D, marketing or warranty costs (or rising logistics/commodity costs) could keep operating losses large even as revenue grows.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
operating_income improved from EUR -138,835,000 in 2022 to EUR -106,941,000 in 2023, showing some operating leverage before worsening in 2024.
Open source ↗Wallbox’s cash balance and operating cash flow trajectory create a real runway constraint — absent a capital raise or rapid improvement in operating_cash_flow, the company will need external financing.StrengtheningMateriality: Medium
cash fell from EUR 101,158,000 at 2023 year-end to EUR 20,036,000 at 2024 year-end (fundamentals: cash fields). If the company must raise equity at distressed prices, existing shareholders will be diluted and the equity case weakens even if the business is sound.
Watch: The company could access capital markets (equity or debt) or secure strategic financing/partnerships that replenish cash without unacceptable dilution.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
cash fell from EUR 101,158,000 at 2023 year-end to EUR 20,036,000 at 2024 year-end (fundamentals: cash fields).
Open source ↗Operating_cash_flow is the leading indicator for whether Wallbox’s business model is converting revenue into sustainable cash; a durable move toward positive operating_cash_flow indicates the company can self-fund growth.HoldingMateriality: Medium
operating_cash_flow improved from EUR -64,100,000 in FY 2023 to EUR -51,532,000 in FY 2024, indicating some improvement though still negative. Positive operating_cash_flow would materially lower financing risk and validate the path to durable value creation.
Watch: Worsening working capital (rising inventory/receivables), higher warranty/returns, or lower ASPs could keep operating cash flow negative despite revenue growth.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
operating_cash_flow improved from EUR -64,100,000 in FY 2023 to EUR -51,532,000 in FY 2024, indicating some improvement though still negative.
Open source ↗
Full investment case & evidence
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Original research
EV charger demand will keep Wallbox’s revenue growing year-over-year in the near term, allowing the company to scale fixed costs and improve margins if product mix and channels hold. Sustained revenue growth is the precondition for operating leverage; without it Wallbox cannot spread fixed R&D/manufacturing overhead and cannot reach profitability.
Wallbox’s operating losses are primarily a function of scale and opex; if revenue growth continues and management slows structural opex or achieves lower unit costs, operating_income can move toward breakeven. Improving operating_income is the causal route to durable value—revenue without operating leverage leaves the company dependent on capital markets.
Wallbox’s cash balance and operating cash flow trajectory create a real runway constraint — absent a capital raise or rapid improvement in operating_cash_flow, the company will need external financing. If the company must raise equity at distressed prices, existing shareholders will be diluted and the equity case weakens even if the business is sound.
Operating_cash_flow is the leading indicator for whether Wallbox’s business model is converting revenue into sustainable cash; a durable move toward positive operating_cash_flow indicates the company can self-fund growth. Positive operating_cash_flow would materially lower financing risk and validate the path to durable value creation.
All standing thesis claims
Original report summary
continued EV charger demand converts into higher-margin, recurring software/services and manufacturing scale fast enough to stop cash burn and produce positive operating cash flow before equity is diluted.
Bull case and bear case
Bull case and bear case for Wallbox N.V.
Where the evidence on Wallbox N.V. stands: Holding on the latest evidence (Nov 4, 2026). Of its 4 thesis points, 1 strengthening and 3 holding.
Bull case: what the evidence supports
EV charger demand will keep Wallbox’s revenue growing year-over-year in the near term, allowing the company to scale fixed costs and improve margins if product mix and channels hold.
Wallbox’s operating losses are primarily a function of scale and opex; if revenue growth continues and management slows structural opex or achieves lower unit costs, operating_income can move toward breakeven.
Wallbox’s cash balance and operating cash flow trajectory create a real runway constraint — absent a capital raise or rapid improvement in operating_cash_flow, the company will need external financing.
Operating_cash_flow is the leading indicator for whether Wallbox’s business model is converting revenue into sustainable cash; a durable move toward positive operating_cash_flow indicates the company can self-fund growth.
Bear case: what would count against it
Competitors (e.g., ChargePoint, EVBox, OEM captive chargers and low-cost Chinese makers) could accelerate price-led share gains, compressing Wallbox unit economics before scale.
Sustained high R&D, marketing or warranty costs (or rising logistics/commodity costs) could keep operating losses large even as revenue grows.
The company could access capital markets (equity or debt) or secure strategic financing/partnerships that replenish cash without unacceptable dilution.
Thesis-Break Engine
Thesis-break watch · Wallbox N.V.
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedForeign issuer material report (6-K).
Wallbox N.V. filed an SEC report on 2026-09-29: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
Wallbox N.V. filed an SEC report on 2026-07-30: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
- MixedForeign issuer material report (6-K).
Wallbox N.V. filed an SEC report on 2026-07-06: Foreign issuer material report (6-K). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Competitors (e.g., ChargePoint, EVBox, OEM captive chargers and low-cost Chinese makers) could accelerate price-led share gains, compressing Wallbox unit economics before scale.
- Sustained high R&D, marketing or warranty costs (or rising logistics/commodity costs) could keep operating losses large even as revenue grows.
- The company could access capital markets (equity or debt) or secure strategic financing/partnerships that replenish cash without unacceptable dilution.
- Worsening working capital (rising inventory/receivables), higher warranty/returns, or lower ASPs could keep operating cash flow negative despite revenue growth.
WBX news
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Financial statements
WBX income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.