Stock fact sheet · data as of
Calamos Strategic Total Return Fund (CSQ): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · High Yield Income
Is CSQ undervalued?
Calamos Strategic Total Return Fund (CSQ) closed at 20.09 on 16 Oct 2026. The GLS average fair value - the simple average of the 7 valuation models that produced a positive number - is 158.06, which puts the price 87% below it. 6 of the 7 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
There is a wide gap between DCF (4.91) and GLS Growth (405.22). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files CSQ under High Yield Income: a dividend yield above 4%.
Nine valuation models for CSQ
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 | 4.91 | -76% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 56.88 | +183% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 378.61 | +1785% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 165.48 | +724% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 405.22 | +1917% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 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 | 21.78 | +8% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 73.55 | +266% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -8.84 | -144% | 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
Calamos Strategic Total Return Fund scores only 4 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 3.3/10 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 high - ROIC 15.3%, ROE 21.6%, ROA 15.2% - with debt at 0.41 times equity and negative free cash flow.
The dividend yield is high at 7.37% (payout ratio 20%). 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 3/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 4 / 9 | ROIC | 15.3% |
|---|---|---|---|
| GLS Moat | 3.3 / 10 | ROE | 21.6% |
| Debt / equity | 0.41 | ROA | 15.2% |
| Free-cash-flow yield | -0.5% | Payout ratio | 20% |
| Institutions | 3 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 39: No options
No options are listed on Calamos Strategic Total Return Fund in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 39) 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 226k shares a day on a market cap of $3.2B, with a beta of 1.32 - 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 12 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 87% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 5 / 15 | moat 3.3/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 12 / 20 | 226k shares/day, $3.2B cap, beta 1.32 |
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 CSQ in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to Calamos Strategic Total Return Fund by market cap within the Asset Management 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 |
|---|---|---|---|---|---|
| ADX Adams Diversified Equity Fund, Inc. | 25.79 | 118.38 | +78% | 39No options | $3.2B |
| AB AllianceBernstein Holding L.P. | 34.76 | 46.63 | +25% | 73Good | $3.2B |
| UTG Reaves Utility Income Fund | 35.42 | 253.85 | +86% | 39No options | $3.2B |
| WT WisdomTree, Inc. | 21.08 | 19.68 | -7% | 70Good | $3.2B |
| GBDC Golub Capital BDC, Inc. | 12.27 | 32.28 | +62% | 81Prime | $3.2B |
| FGADX Franklin Gold and Precious Metals Adv | 50.54 | 12.72 | -297% | 24No options | $3.3B |
| AAMI Acadian Asset Management | 92.81 | 62.56 | -48% | 56Fair | $3.3B |
| HCXY Hercules Capital Inc | 24.37 | 33.11 | +26% | 39No options | $3.1B |
| HTGC Hercules Capital, Inc. | 16.66 | 27.42 | +39% | 76Good | $3.1B |
| EAPCX Parametric Commodity Strategy Fund | 8.19 | 8.42 | +3% | 39No options | $3.3B |
| FCAMX Franklin California High Yield Municipal Fund Class A1 | 9.17 | 6.20 | -48% | 24No options | $3.1B |
| HFMSX The Hartford MidCap Fund Class R4 | 26.61 | 390.89 | +93% | 39No options | $3.1B |
⚖ Compare CSQ with 7 of them All Financial Services stocks →
Screen the whole market the same way
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 same eight-rule screen, 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 CSQ
Is CSQ undervalued right now?
By the GLS models, yes: at 20.09 the stock is 87% below the average fair value of 158.06 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of CSQ and what does it mean?
CSQ 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 CSQ?
158.06 per share as of 16 Oct 2026 - the simple average of the 7 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 Calamos Strategic Total Return Fund report earnings next?
No upcoming earnings date is recorded for CSQ in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does CSQ have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on CSQ, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.