Dawson Geophysical Company (DWSN): fair value, margin of safety and Wheel Score

Is DWSN undervalued?

Dawson Geophysical Company (DWSN) closed at 1.68 on 5 Nov 2026. The GLS average fair value - the simple average of the 5 valuation models that produced a positive number - is 3.40, which puts the price 51% below it. 3 of the 5 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.

The 5 models disagree widely: EPV gives 1.30 while Graham Growth gives 6.52. 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.

Ranked against every other company we cover, neither cheapness nor growth clearly wins for DWSN, so the nightly engine files it under Blend (value score 53, growth score 47, out of 100).

Nine valuation models for DWSN

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 weak: DWSN passes 4 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 2.0 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.

Returns on capital are thin or negative - ROIC -5.3%, ROE -12.3%, ROA -3.5% - with debt at 1.31 times equity and negative free cash flow.

Dawson Geophysical Company pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Fee Revenue 78%, Reimbursable Revenue 22% (quarter Q2 FY2026).

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

Wheel Score 27: No options

DWSN has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (27 here). The valuation and quality numbers still apply to owning the shares outright.

Volume runs at 44k shares a day on a market cap of $52M, with a beta of -0.03 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for DWSN in the nightly calendar.

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

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