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Side-by-side financial comparison of Greenwave Technology Solutions, Inc. (GWAV) and OLYMPIC STEEL INC (ZEUS). Click either name above to swap in a different company.
OLYMPIC STEEL INC is the larger business by last-quarter revenue ($490.7M vs $12.7M, roughly 38.7× Greenwave Technology Solutions, Inc.). OLYMPIC STEEL INC runs the higher net margin — 0.4% vs -41.6%, a 42.1% gap on every dollar of revenue. On growth, Greenwave Technology Solutions, Inc. posted the faster year-over-year revenue change (49.0% vs 4.4%). Over the past eight quarters, Greenwave Technology Solutions, Inc.'s revenue compounded faster (18.5% CAGR vs 0.1%).
Olympic Steel, Inc. is a metals service center based in Cleveland, Ohio. The company processes and distributes carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminium alloy, tin plate, and metal-intensive branded products primarily in the United States. Metals processing and value added services include tempering, stretch leveling, cutting-to-length, slitting, edging, shearing, blanking, burning, forming, shot blasting, laser punching, plate rolling, fabricating, machi...
GWAV vs ZEUS — Head-to-Head
Income Statement — Q3 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $12.7M | $490.7M |
| Net Profit | $-5.3M | $2.2M |
| Gross Margin | 27.6% | — |
| Operating Margin | -38.8% | 1.5% |
| Net Margin | -41.6% | 0.4% |
| Revenue YoY | 49.0% | 4.4% |
| Net Profit YoY | -10.0% | -21.2% |
| EPS (diluted) | $-8.89 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $12.7M | $490.7M | ||
| Q2 25 | $11.0M | $496.5M | ||
| Q1 25 | $7.3M | $492.9M | ||
| Q4 24 | $8.4M | $418.8M | ||
| Q3 24 | $8.5M | $470.0M | ||
| Q2 24 | $7.9M | $526.3M | ||
| Q1 24 | $8.5M | $526.6M | ||
| Q4 23 | $9.0M | $489.4M |
| Q3 25 | $-5.3M | $2.2M | ||
| Q2 25 | $-4.9M | $5.2M | ||
| Q1 25 | $-4.7M | $2.5M | ||
| Q4 24 | $-18.4M | $3.9M | ||
| Q3 24 | $-4.8M | $2.7M | ||
| Q2 24 | $7.3M | $7.7M | ||
| Q1 24 | $-8.1M | $8.7M | ||
| Q4 23 | $-4.2M | $7.4M |
| Q3 25 | 27.6% | — | ||
| Q2 25 | 19.2% | — | ||
| Q1 25 | 47.5% | — | ||
| Q4 24 | 46.2% | — | ||
| Q3 24 | 41.7% | — | ||
| Q2 24 | 29.0% | — | ||
| Q1 24 | 38.4% | — | ||
| Q4 23 | 39.1% | — |
| Q3 25 | -38.8% | 1.5% | ||
| Q2 25 | -42.3% | 2.3% | ||
| Q1 25 | -52.9% | 1.6% | ||
| Q4 24 | -214.3% | 2.1% | ||
| Q3 24 | -52.2% | 1.7% | ||
| Q2 24 | -113.7% | 2.9% | ||
| Q1 24 | -33.1% | 3.0% | ||
| Q4 23 | -22.2% | 2.7% |
| Q3 25 | -41.6% | 0.4% | ||
| Q2 25 | -44.7% | 1.1% | ||
| Q1 25 | -63.6% | 0.5% | ||
| Q4 24 | -218.2% | 0.9% | ||
| Q3 24 | -56.4% | 0.6% | ||
| Q2 24 | 92.9% | 1.5% | ||
| Q1 24 | -94.8% | 1.7% | ||
| Q4 23 | -46.0% | 1.5% |
| Q3 25 | $-8.89 | $0.18 | ||
| Q2 25 | $-8.98 | $0.45 | ||
| Q1 25 | $-17.85 | $0.21 | ||
| Q4 24 | $27413.86 | $0.33 | ||
| Q3 24 | $-28.74 | $0.23 | ||
| Q2 24 | $-921.46 | $0.66 | ||
| Q1 24 | $-26472.13 | $0.75 | ||
| Q4 23 | $-92.55 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $7.5M |
| Total DebtLower is stronger | $6.2M | $240.9M |
| Stockholders' EquityBook value | $32.7M | $579.1M |
| Total Assets | $59.9M | $1.1B |
| Debt / EquityLower = less leverage | 0.19× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $7.5M | ||
| Q2 25 | — | $14.8M | ||
| Q1 25 | — | $13.3M | ||
| Q4 24 | — | $11.9M | ||
| Q3 24 | — | $11.1M | ||
| Q2 24 | — | $9.4M | ||
| Q1 24 | — | $10.3M | ||
| Q4 23 | — | $13.2M |
| Q3 25 | $6.2M | $240.9M | ||
| Q2 25 | $6.3M | $233.2M | ||
| Q1 25 | $5.2M | $235.4M | ||
| Q4 24 | $4.3M | $272.5M | ||
| Q3 24 | $4.5M | $197.3M | ||
| Q2 24 | $4.8M | $209.2M | ||
| Q1 24 | $13.0M | $196.8M | ||
| Q4 23 | $23.4M | $190.2M |
| Q3 25 | $32.7M | $579.1M | ||
| Q2 25 | $38.0M | $578.2M | ||
| Q1 25 | $41.5M | $574.2M | ||
| Q4 24 | $37.0M | $573.9M | ||
| Q3 24 | $51.3M | $570.6M | ||
| Q2 24 | $56.1M | $569.5M | ||
| Q1 24 | $5.6M | $563.0M | ||
| Q4 23 | $-4.5M | $555.5M |
| Q3 25 | $59.9M | $1.1B | ||
| Q2 25 | $64.1M | $1.1B | ||
| Q1 25 | $67.5M | $1.1B | ||
| Q4 24 | $63.1M | $1.0B | ||
| Q3 24 | $69.6M | $1.0B | ||
| Q2 24 | $74.6M | $1.0B | ||
| Q1 24 | $45.3M | $1.0B | ||
| Q4 23 | $46.4M | $984.8M |
| Q3 25 | 0.19× | 0.42× | ||
| Q2 25 | 0.17× | 0.40× | ||
| Q1 25 | 0.12× | 0.41× | ||
| Q4 24 | 0.12× | 0.47× | ||
| Q3 24 | 0.09× | 0.35× | ||
| Q2 24 | 0.09× | 0.37× | ||
| Q1 24 | 2.32× | 0.35× | ||
| Q4 23 | — | 0.34× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-2.9M | $-5.4M |
| Free Cash FlowOCF − Capex | — | $-12.9M |
| FCF MarginFCF / Revenue | — | -2.6% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | — | -2.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-2.9M | $-5.4M | ||
| Q2 25 | $1.2M | $15.5M | ||
| Q1 25 | $-4.2M | $49.4M | ||
| Q4 24 | $-2.5M | $14.6M | ||
| Q3 24 | $-671.2K | $24.6M | ||
| Q2 24 | $-10.6M | $-2.9M | ||
| Q1 24 | $-3.5M | $-2.6M | ||
| Q4 23 | $753.7K | $54.2M |
| Q3 25 | — | $-12.9M | ||
| Q2 25 | $660.4K | $6.8M | ||
| Q1 25 | $-4.4M | $40.6M | ||
| Q4 24 | — | $7.4M | ||
| Q3 24 | — | $15.6M | ||
| Q2 24 | — | $-11.3M | ||
| Q1 24 | — | $-7.4M | ||
| Q4 23 | — | $52.4M |
| Q3 25 | — | -2.6% | ||
| Q2 25 | 6.0% | 1.4% | ||
| Q1 25 | -59.6% | 8.2% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 3.3% | ||
| Q2 24 | — | -2.2% | ||
| Q1 24 | — | -1.4% | ||
| Q4 23 | — | 10.7% |
| Q3 25 | — | 1.5% | ||
| Q2 25 | 5.2% | 1.7% | ||
| Q1 25 | 2.9% | 1.8% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 1.6% | ||
| Q1 24 | — | 0.9% | ||
| Q4 23 | — | 0.4% |
| Q3 25 | — | -2.50× | ||
| Q2 25 | — | 2.96× | ||
| Q1 25 | — | 19.70× | ||
| Q4 24 | — | 3.75× | ||
| Q3 24 | — | 9.01× | ||
| Q2 24 | -1.45× | -0.38× | ||
| Q1 24 | — | -0.30× | ||
| Q4 23 | — | 7.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GWAV
| Scrap Metal Recycling | $9.0M | 71% |
| Hauling | $3.7M | 29% |
ZEUS
| Carbon Flat Products | $268.2M | 55% |
| Specialty Metals Flat Products | $140.9M | 29% |
| Tubular And Pipe Products | $81.6M | 17% |
