1. A computer program product for evaluating a circuit design, the computer program product comprising: a non-transitory computer readable storage medium having program instructions including a compact multiwave based circuit design evaluator stored thereon, the program instructions, when executed by one or more processors, cause the one or more processors to perform operations for evaluating a circuit design, the program instructions, comprising program instructions to, acquire, by the compact multiwave based circuit design evaluator, a register transfer level circuit design; determine, by the compact multiwave based circuit design evaluator, an input sequence of signal transition representations associated with an input net of an indicated component in the register transfer level circuit design, wherein each signal transition representation represents a nondeterministic transition from a previous signal state to one or more possible signal states, and wherein the program instructions to determine the input sequence of signal transition representations comprise program instructions to determine that a subsequence of the input sequence of signal transition representations indicates at most one transition within the subsequence of the input sequence of signal transition representations; and determine, by the compact multiwave based circuit design evaluator and based on the indicated component and on the determination that the subsequence of the input sequence of signal transition representations indicates at most one transition, an output sequence of signal transition representations derived from the input sequence of signal transition representations.