Characterizing waviness in sheet metal is a key process for quality control in many industries, such as automotive and home appliance manufacturing. However, there is still no known technique able to work in an automated in-floor inspection system. The literature describes many techniques developed in the last three decades, but most of them are either slow, only able to work in laboratory conditions, need very short (unsafe) working distances, or are only able to estimate certain waviness parameters. In this article we propose the use of a lateral shearing interferometric profilometer, which is able to obtain a 19 mm profile in a single acquisition, with sub-micron precision, in an uncontrolled environment, and from a working distance greater than 90 mm. This system allows direct measurement of all needed waviness parameters even with objects in movement. We describe a series of experiments over several samples of steel plates to validate the sensor and the processing method, and the results are in close agreement with those obtained with a contact stylus device. The sensor is an ideal candidate for on-line or in-machine fast automatic waviness assessment, reducing delays and costs in many metalworking processes.