Stock fact sheet · data as of
Carlsmed, Inc. (CARL): fair value, margin of safety and Wheel Score
Healthcare · Medical - Healthcare Information Services · United States · Speculative / Distressed
Is CARL undervalued?
At 13.95 (close of 16 Oct 2026), CARL trades 81% below the GLS average fair value of 71.80. That average comes from 1 models run on the latest filings, and 1 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Carlsmed, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
Only 1 of the nine models produced a value (DCF); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files CARL 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 CARL
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 | 71.80 | +415% | 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 | - | - | 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 | - | - | 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) | 3.49 | -75% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 18.50 | +33% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: CARL passes 4 of the nine Piotroski tests. Our screens drop the stock at the health rule; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 3.8 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC -25.5%, ROE -30.0%, ROA -22.8% - with debt at 0.18 times equity and negative free cash flow.
Carlsmed, 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 2/10, 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 | 4 / 9 | ROIC | -25.5% |
|---|---|---|---|
| GLS Moat | 3.8 / 10 | ROE | -30.0% |
| Debt / equity | 0.18 | ROA | -22.8% |
| Free-cash-flow yield | -9.0% | Payout ratio | 0% |
| Institutions | 2 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 39: No options
CARL has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business; the Wheel Score is capped at 39 and shown as "No options" (39 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 33k shares a day on a market cap of $381M, with a beta of 2.09 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 3 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 81% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 6 / 15 | moat 3.8/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 3 / 20 | 33k shares/day, $381M cap, beta 2.09 |
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
The next earnings report is due on 5 Nov 2026 (after the close), 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Medical - Healthcare Information Services
The 12 companies below are the closest to Carlsmed, Inc. by market cap within the Medical - Healthcare Information Services 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 |
|---|---|---|---|---|---|
| CTEV Claritev Corporation | 23.86 | 120.21 | +80% | 45Weak | $404M |
| SY So-Young International Inc. | 2.45 | - | - | 45Weak | $320M |
| NRC NRC Health | 21.11 | 8.64 | -144% | 47Weak | $467M |
| EVH Evolent Health, Inc. | 4.87 | 4.93 | +1% | 45Weak | $548M |
| SOPH SOPHiA GENETICS S.A. | 7.06 | - | - | 45Weak | $601M |
| SPOK Spok Holdings, Inc. | 10.74 | 21.09 | +49% | 71Good | $224M |
| PHR Phreesia, Inc. | 10.63 | 14.46 | +26% | 68Good | $657M |
| AMWL American Well Corporation | 12.38 | - | - | 38Weak | $211M |
| MDRX Veradigm Inc. | 5.00 | - | - | 37No options | $851M |
| OPRX OptimizeRx Corp. | 8.85 | 9.80 | +10% | 62Fair | $167M |
| LFMDP LifeMD, Inc. | 22.41 | - | - | 24No options | $153M |
| HSTM HealthStream, Inc. | 33.75 | 23.38 | -44% | 56Fair | $1.0B |
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Start free See the Sunday ScanQuestions about CARL
Is CARL undervalued right now?
By the GLS models, yes: at 13.95 the stock is 81% below the average fair value of 71.80 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of CARL and what does it mean?
CARL 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 CARL?
71.80 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 Carlsmed, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (after the close), 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does CARL have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on CARL, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.