Stock fact sheet · data as of
Asana, Inc. (ASAN): fair value, margin of safety and Wheel Score
Ticker symbol ASAN · Technology · Software - Application · United States · Class A common stock · Speculative
ASAN is Asana, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is ASAN undervalued?
Asana, Inc. (ASAN) closed at 11.64 on 5 Nov 2026, 21% above the GLS average fair value of 9.59. Only 0 of the 2 models that produced a number value the shares above the current price. The margin of safety is negative, so the stock fails the "below fair value" Wheel Trade Filter; a premium of this size is common for companies whose growth the models are conservative about.
The average is built from just 2 models (DCF, 10 Cap) - 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 ASAN under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for ASAN
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 | 8.26 | -29% | Present value of the projected free cash flows, discounted at the cost of capital |
| 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 | 10.92 | -6% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -0.4220 | -104% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 9.50 | -18% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Asana, Inc. scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 4.1/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -46.8%, ROE -122.6%, ROA -22.4% - with debt at 1.62 times equity and a free-cash-flow yield of 4.4%.
Asana, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.
Institutional ownership scores 6/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 5 Oct 2026.
| Piotroski F-score | 5 / 9 | ROIC | -46.8% |
|---|---|---|---|
| GLS Moat | 4.1 / 10 | ROE | -122.6% |
| Debt / equity | 1.62 | ROA | -22.4% |
| Free-cash-flow yield | 4.4% | Payout ratio | 0% |
| Institutions | 6 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 29: Weak
With a Wheel Score of 29 Asana, Inc. sits in the Weak band. It fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades 21% above our fair value; and filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 7, a premium worth selling - implied volatility 81% (over 80%); Value (weak) is its weakest part.
Implied volatility is 81%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 32,686 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 4.6M shares a day on a market cap of $2.7B, with a beta of 0.99; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades 21% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 81% (over 80%) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 21% above fair value | |
| Premium | Fair | implied volatility 81% | |
| Moat | Fair | moat 4.1/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Good | Red Flags score 80/100 | |
| Option trading | Fair | 648 contracts a day, 32,686 open interest | |
| Stability | Fair | beta 0.99, $2.7B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 1 Dec 2026 (after the close), 26 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Software - Application
The 12 companies below are the closest to Asana, Inc. by market cap within the Software - Application 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 |
|---|---|---|---|---|---|
| FIVN Five9, Inc. | 36.35 | 31.98 | -14% | 31Weak | $2.7B |
| BULL Webull Corporation Class A Ordinary Shares | 5.39 | 7.47 | +28% | 50Fair | $2.6B |
| BVC BitVentures Limited | 16.33 | 2.83 | -477% | 16No options | $2.7B |
| VERX Vertex, Inc. | 15.92 | 5.11 | -212% | 26Weak | $2.6B |
| BLKB Blackbaud, Inc. | 56.06 | 88.60 | +37% | 51Fair | $2.5B |
| NCNO nCino, Inc. | 23.44 | 17.20 | -36% | 33Weak | $2.5B |
| LIFX Life360, Inc. | 11.82 | 11.11 | -6% | 15No options | $2.9B |
| GRND Grindr Inc. | 14.01 | 29.38 | +52% | 49Weak | $2.4B |
| KC Kingsoft Cloud Holdings Limited | 8.10 | 25.77 | +69% | 33Weak | $2.4B |
| PLUS ePlus inc. | 90.47 | 51.97 | -74% | 40Weak | $2.4B |
| SPSC SPS Commerce, Inc. | 85.24 | 95.20 | +10% | 77Good | $3.0B |
| VIA Via Transportation, Inc. | 39.20 | 33.87 | -16% | 30Weak | $3.0B |
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about ASAN
What kind of share is ASAN?
ASAN is Asana, Inc.'s Class A common stock. The classes own the same business, share the same earnings report and trade within a few cents of each other; what differs is mainly the vote each share carries - the company's annual report sets out the voting rights.
Is ASAN undervalued right now?
No: at 11.64 the stock trades 21% above the GLS average fair value of 9.59 (data as of 5 Nov 2026). The margin of safety is negative.
What is the Wheel Score of ASAN and what does it mean?
ASAN scores 29 out of 100 (Weak) - it fails Wheel Trade Filters 2, 3, 4, 7. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for ASAN?
9.59 per share as of 5 Nov 2026 - the simple average of the 2 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 Asana, Inc. report earnings next?
The next earnings report is due on 1 Dec 2026 (after the close), 26 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does ASAN have listed options, and how liquid are they?
Yes. The nightly snapshot found 42 listed contracts with 32,686 open interest across all expiries and implied volatility of 81% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.