Stock fact sheet · data as of
Diana Shipping Inc. (DSX): fair value, margin of safety and Wheel Score
Industrials · Marine Shipping · Greece · Defensive
Is DSX undervalued?
At 2.56 (close of 16 Oct 2026), DSX trades 71% below the GLS average fair value of 8.73. That average comes from 9 models run on the latest filings, and 7 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 Diana Shipping Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
There is a wide gap between DDM (0.5886) and Graham Growth (30.10). 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 DSX under Defensive: a low beta, a dividend and positive earnings.
Nine valuation models for DSX
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 | 5.68 | +122% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 7.55 | +195% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 30.10 | +1076% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 13.15 | +414% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 1.54 | -40% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 7.28 | +184% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 6.83 | +167% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 0.5886 | -77% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 5.85 | +128% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -3.25 | -227% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 3.00 | +17% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Diana Shipping Inc. 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 1.2/10 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 thin or negative - ROIC 1.6%, ROE 3.5%, ROA 1.5% - with debt at 1.27 times equity and negative free cash flow.
The dividend yield is 1.56% at a payout ratio of 0%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold.
Institutional ownership scores 2/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 29 Sep 2026.
| Piotroski F-score | 4 / 9 | ROIC | 1.6% |
|---|---|---|---|
| GLS Moat | 1.2 / 10 | ROE | 3.5% |
| Debt / equity | 1.27 | ROA | 1.5% |
| Free-cash-flow yield | 0.0% | Payout ratio | 0% |
| Institutions | 2 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 59: Fair
A Wheel Score of 59 puts Diana Shipping Inc. in the Fair band - below the 70 the Sunday Scan requires. Value 25/25, Health 9/20, Moat 2/15, Premium 10/20 and Stability 13/20; the weakest part is Moat (2/15).
Implied volatility is 98% 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 (10 of 20) because volatility this high usually comes with a reason. Chain open interest is 8,972 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.2M shares a day on a market cap of $318M, with a beta of 0.46 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 13 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 71% margin of safety | |
| Health | 9 / 20 | Piotroski 4/9 | |
| Moat | 2 / 15 | moat 1.2/10 | |
| Premium | 10 / 20 | implied volatility 98% | |
| Stability | 13 / 20 | 1.2M shares/day, $318M cap, beta 0.46 |
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 19 Nov 2026 (before the open), 34 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 Marine Shipping
The 12 companies below are the closest to Diana Shipping Inc. by market cap within the Marine Shipping 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 |
|---|---|---|---|---|---|
| GASS StealthGas Inc. | 8.56 | 24.24 | +65% | 74Good | $322M |
| KNOP KNOT Offshore Partners LP | 9.77 | 34.55 | +72% | 69Good | $329M |
| SHIP Seanergy Maritime Holdings Corp. | 16.60 | 24.77 | +33% | 73Good | $360M |
| SMHI SEACOR Marine Holdings Inc. | 8.24 | 18.08 | +54% | 45Weak | $224M |
| CMDB Costamare Bulkers Holdings Limited | 19.47 | 18.67 | -4% | 39No options | $473M |
| ESEA Euroseas Ltd. | 67.45 | 213.07 | +68% | 39No options | $476M |
| PANL Pangaea Logistics Solutions, Ltd. | 8.17 | 8.92 | +8% | 62Fair | $535M |
| TORO Toro Corp. | 4.10 | 7.81 | +48% | 47Weak | $142M |
| EDRY EuroDry Ltd. | 47.44 | 60.92 | +22% | 39No options | $136M |
| HSHP Himalaya Shipping Ltd. | 16.24 | 35.94 | +55% | 39No options | $766M |
| ASC Ardmore Shipping Corporation | 18.98 | 22.71 | +16% | 71Good | $775M |
| DLNG Dynagas LNG Partners LP | 3.42 | 31.13 | +89% | 70Good | $124M |
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Start free See the Sunday ScanQuestions about DSX
Is DSX undervalued right now?
By the GLS models, yes: at 2.56 the stock is 71% below the average fair value of 8.73 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of DSX and what does it mean?
DSX scores 59 out of 100 (Fair). 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 DSX?
8.73 per share as of 16 Oct 2026 - the simple average of the 9 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 Diana Shipping Inc. report earnings next?
The next earnings report is due on 19 Nov 2026 (before the open), 34 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does DSX have listed options, and how liquid are they?
Yes. The nightly snapshot found 60 listed contracts with 8,972 open interest across all expiries and implied volatility of 98% 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.