Stock fact sheet · data as of
Emera Incorporated (EMA): fair value, margin of safety and Wheel Score
Utilities · Regulated Electric · Canada · High Yield Income
Is EMA undervalued?
EMA closed at 47.07 on 16 Oct 2026, more than 30% above the GLS average fair value of 30.81. Only 1 of the 6 models that produced a value sit above the price. By our models the shares are priced well beyond what the filed earnings, cash flow and book value support; the Sunday Scan drops names like this at the "below fair value" rule.
There is a wide gap between Lynch (8.29) and Graham Number (59.86). 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 EMA under High Yield Income: a dividend yield above 4%.
Nine valuation models for EMA
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 | 59.86 | +27% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 36.09 | -23% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 8.29 | -82% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 10.94 | -77% | 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 | 43.11 | -8% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 26.58 | -44% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -87.94 | -287% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 52.00 | +10% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Emera Incorporated scores 6 of 9 on the Piotroski F-score: a middling result that passes the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 2.5/10 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 3.1%, ROE 8.1%, ROA 2.4% - with debt at 1.62 times equity and negative free cash flow.
The dividend yield is high at 4.39% (payout ratio 65%). 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 Florida Electric Utility 48%, Canadian Electric Utilities 22%, Gas Utilities and Infrastructure 20% (fiscal year FY2025).
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 3.1% |
|---|---|---|---|
| GLS Moat | 2.5 / 10 | ROE | 8.1% |
| Debt / equity | 1.62 | ROA | 2.4% |
| Free-cash-flow yield | -5.7% | Payout ratio | 65% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 54: Fair
A Wheel Score of 54 puts Emera Incorporated in the Fair band - below the 70 the Sunday Scan requires. Value 0/25, Health 13/20, Moat 4/15, Premium 20/20 and Stability 17/20; the weakest part is Value (0/25).
Implied volatility is 36% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 4,087 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 612k shares a day on a market cap of $14.5B, with a beta of 0.42 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 17 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -53% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 4 / 15 | moat 2.5/10 | |
| Premium | 20 / 20 | implied volatility 36% | |
| Stability | 17 / 20 | 612k shares/day, $14.5B cap, beta 0.42 |
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 6 Nov 2026 (before the open), 21 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium. The shares go ex-dividend on 30 Oct 2026 (0.5195 per share), so a covered call sold before then carries a small early-assignment risk around that date.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Regulated Electric
The 12 companies below are the closest to Emera Incorporated by market cap within the Regulated Electric 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 |
|---|---|---|---|---|---|
| KEP Korea Electric Power Corporation | 10.69 | 31,554.75 | +100% | 77Good | $13.7B |
| DUKB Duke Energy Corporation 5.625% | 20.90 | 36.60 | +43% | 39No options | $16.3B |
| XELLL Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 | 20.74 | 20.81 | +0% | 25No options | $12.6B |
| PNW Pinnacle West Capital Corporation | 102.04 | 65.11 | -57% | 55Fair | $12.4B |
| LNT Alliant Energy Corporation | 67.10 | 37.78 | -78% | 51Fair | $17.4B |
| SOJC The Southern Company JR 2017B NT 77 | 18.45 | 34.77 | +47% | 39No options | $18.4B |
| EVRG Evergy, Inc. | 81.57 | 50.00 | -63% | 49Weak | $18.8B |
| SOJD Southern Company (The) Series 2 | 17.51 | 34.18 | +49% | 39No options | $20.1B |
| CMS CMS Energy Corporation | 66.94 | 52.34 | -28% | 55Fair | $21.0B |
| CMSA CMS Energy Corporation 5.6% JRSUB NT 78 | 19.02 | 30.99 | +39% | 39No options | $21.0B |
| EIX Edison International | 55.65 | 228.48 | +76% | 87Prime | $21.4B |
| OGE OGE Energy Corp. | 47.05 | 41.42 | -14% | 55Fair | $9.7B |
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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 EMA
Is EMA undervalued right now?
No: at 47.07 the stock trades 53% above the GLS average fair value of 30.81 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of EMA and what does it mean?
EMA scores 54 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 EMA?
30.81 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 Emera Incorporated report earnings next?
The next earnings report is due on 6 Nov 2026 (before the open), 21 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does EMA have listed options, and how liquid are they?
Yes. The nightly snapshot found 102 listed contracts with 4,087 open interest across all expiries and implied volatility of 36% 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.