Stock fact sheet · data as of
Horizon Active Income Fund - Advisor Class (AIHAX): fair value, margin of safety and Wheel Score
Financial Services · Asset Management - Income · United States · Speculative / Distressed
Is AIHAX undervalued?
At 7.73 (close of 16 Oct 2026), AIHAX trades 58% over the GLS average fair value of 4.89, with 0 of 1 models above the price. The stock earns none of the Wheel Score's Value points at this price. That is a statement about price against trailing fundamentals, not about the company's prospects - the Wall Street View and the Growth tab on the Quote page carry the forward numbers.
The average is built from just 1 models (DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files AIHAX under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for AIHAX
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 4.89 | -37% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -1.14 | -115% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Horizon Active Income Fund - Advisor Class scores only 3 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 2.7/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC 4.0%, ROE 4.4%, ROA 4.0% - with debt at 0.10 times equity and negative free cash flow.
The dividend yield is high at 4.30% (payout ratio 0%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | 4.0% |
|---|---|---|---|
| GLS Moat | 2.7 / 10 | ROE | 4.4% |
| Debt / equity | 0.10 | ROA | 4.0% |
| Free-cash-flow yield | 0.0% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 17: No options
No options are listed on Horizon Active Income Fund - Advisor Class in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 17) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at - a day on a market cap of $286M, with a beta of 1.00; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -58% margin of safety | |
| Health | 7 / 20 | Piotroski 3/9 | |
| Moat | 4 / 15 | moat 2.7/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 6 / 20 | 0k shares/day, $286M cap, beta 1.00 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for AIHAX in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management - Income
The 12 companies below are the closest to Horizon Active Income Fund - Advisor Class by market cap within the Asset Management - Income industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| XFLT XAI Octagon Floating Rate & Alternative Income Term Trust | 18.74 | 41.78 | +55% | 39No options | $285M |
| JRI Nuveen Real Asset Income and Growth Fund | 10.48 | 30.40 | +66% | 39No options | $288M |
| EFT Eaton Vance Floating-Rate Income Trust | 10.63 | 12.80 | +17% | 39No options | $283M |
| TEI Templeton Emerging Markets Income Fund | 6.15 | 36.59 | +83% | 39No options | $290M |
| HPF John Hancock Preferred Income Fund II | 12.98 | 24.81 | +48% | 39No options | $281M |
| PFCOX PFG American Funds Cons Inc Strat R | 9.80 | 11.76 | +17% | 39No options | $278M |
| OIA Invesco Municipal Income Opportunities Trust | 5.76 | 4.97 | -16% | 30No options | $275M |
| BRW Saba Capital Income & Opportunities Fund | 5.91 | 18.88 | +69% | 39No options | $301M |
| BGT BlackRock Floating Rate Income Trust | 10.09 | 25.67 | +61% | 39No options | $301M |
| FINS Angel Oak Financial Strategies Income Term Trust | 12.12 | 50.29 | +76% | 39No options | $304M |
| NXG NXG NextGen Infrastructure Income Fund | 52.50 | 684.35 | +92% | 39No options | $304M |
| NCZ Virtus Convertible & Income Fund II | 13.97 | 108.62 | +87% | 39No options | $266M |
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Start free See the Sunday ScanQuestions about AIHAX
Is AIHAX undervalued right now?
No: at 7.73 the stock trades 58% above the GLS average fair value of 4.89 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of AIHAX and what does it mean?
AIHAX has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for AIHAX?
4.89 per share as of 16 Oct 2026 - the simple average of the 1 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Horizon Active Income Fund - Advisor Class report earnings next?
No upcoming earnings date is recorded for AIHAX in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does AIHAX have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on AIHAX, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.