Stock fact sheet · data as of
CoinShares PLC Ordinary Shares (CSHR): fair value, margin of safety and Wheel Score
Financial Services · Financial - Capital Markets · Jersey · Speculative / Distressed
Is CSHR undervalued?
CSHR has a margin of safety of 88%: the stock closed at 4.09 on 16 Oct 2026 against a GLS average fair value of 33.32. 5 of the 6 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
The 6 models disagree widely: 10 Cap gives 0.1025 while GLS Growth gives 71.20. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files CSHR 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 CSHR
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 | 20.11 | +392% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 66.53 | +1527% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 29.08 | +611% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 71.20 | +1641% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 0.1025 | -97% | 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 | 12.92 | +216% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -0.0275 | -101% | 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
Financial health is weak: CSHR passes 0 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 3.1 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 2.4%, ROE 2.4%, ROA 2.4% - with debt at 0.00 times equity and negative free cash flow.
CoinShares PLC Ordinary Shares 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 5/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 12 Oct 2026.
| Piotroski F-score | 0 / 9 | ROIC | 2.4% |
|---|---|---|---|
| GLS Moat | 3.1 / 10 | ROE | 2.4% |
| Debt / equity | 0.00 | ROA | 2.4% |
| Free-cash-flow yield | -0.0% | Payout ratio | 38% |
| Institutions | 5 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 45: Weak
CSHR scores 45 out of 100 on the Wheel Score, in the Weak band (under 50), capped at 45 because the engine files it as Speculative / Distressed. Value 25/25, Health 0/20, Moat 5/15, Premium 8/20, Stability 11/20. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 108% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (8 of 20) because volatility this high usually comes with a reason. Chain open interest is thin - 1,062 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 407k shares a day on a market cap of $539M, with a beta of -1.40 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 11 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 88% margin of safety | |
| Health | 0 / 20 | Piotroski 0/9 | |
| Moat | 5 / 15 | moat 3.1/10 | |
| Premium | 8 / 20 | implied volatility 108% | |
| Stability | 11 / 20 | 407k shares/day, $539M cap, beta -1.40 |
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 4 Nov 2026 (before the open), 19 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.
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The 12 companies below are the closest to CoinShares PLC Ordinary Shares by market cap within the Financial - Capital Markets industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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Start free See the Sunday ScanQuestions about CSHR
Is CSHR undervalued right now?
By the GLS models, yes: at 4.09 the stock is 88% below the average fair value of 33.32 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of CSHR and what does it mean?
CSHR scores 45 out of 100 (Weak). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for CSHR?
33.32 per share as of 16 Oct 2026 - the simple average of the 6 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 CoinShares PLC Ordinary Shares report earnings next?
The next earnings report is due on 4 Nov 2026 (before the open), 19 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does CSHR have listed options, and how liquid are they?
Yes. The nightly snapshot found 36 listed contracts with 1,062 open interest across all expiries and implied volatility of 108% 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.