DHT Holdings, Inc. (DHT): fair value, margin of safety and Wheel Score

Is DHT undervalued?

At 23.43 (close of 16 Oct 2026), DHT trades 42% below the GLS average fair value of 40.72. That average comes from 9 models run on the latest filings, and 5 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 DHT Holdings, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.

The 9 models disagree widely: Payback Time gives 6.65 while DCF gives 114.64. 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 DHT under High Yield Income: a dividend yield above 4%.

Nine valuation models for DHT

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.

Quality and financial health

Financial health is average - DHT passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 5.0 out of 10: a ten-year record that is consistent in some of the metrics the score tracks (revenue, earnings, margins, cash flow, returns on capital) and patchy in others.

Returns on capital are high - ROIC 13.5%, ROE 18.6%, ROA 13.2% - with debt at 0.38 times equity and a free-cash-flow yield of 0.9%.

The dividend yield is high at 10.46% (payout ratio 50%). 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. Revenue comes mainly from Voyage Charter Revenues 71%, Time Charter Revenues 29% (fiscal year FY2025).

Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 82: Prime

DHT scores 82 out of 100 on the Wheel Score, in the Prime band (80 and above), which fewer than one stock in twenty reaches on any night. The score blends five things a wheel trader checks before selling a cash-secured put: the margin of safety (Value, 25/25), Piotroski health (13/20), the GLS moat (8/15), the option premium on offer (18/20) and how easily the stock trades (18/20).

Implied volatility is 68% 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 (18 of 20) because volatility this high usually comes with a reason. The option chain is deep: 185,357 contracts of open interest across all expiries, which means tight fills at most strikes.

Volume runs at 6.7M shares a day on a market cap of $3.8B, with a beta of -0.12 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 18 of 20.

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

DHT Holdings, Inc. reports earnings on 28 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

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