Stock fact sheet · data as of
Emera Incorporated (EMA): fair value, margin of safety and Wheel Score
Ticker symbol EMA · Utilities · Regulated Electric · Canada · Blend Income
Is EMA undervalued?
EMA closed at 51.30 on 5 Nov 2026, more than 30% above the GLS average fair value of 26.24. Only 0 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 "below fair value" Wheel Trade Filter keeps names like this under 70.
There is a wide gap between Lynch (9.30) and Graham Number (41.35). 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.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for EMA, so the nightly engine files it under Blend (value score 33, growth score 52, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
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 | 41.35 | -19% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 38.41 | -25% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 9.30 | -82% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 11.11 | -78% | 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 | 30.25 | -41% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 27.03 | -47% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -63.08 | -223% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 50.00 | -3% | 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 "Piotroski 6 or more" Wheel Trade Filter. 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 4.3/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, 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 4.01% (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 | 4.3 / 10 | ROE | 8.1% |
| Debt / equity | 1.62 | ROA | 2.4% |
| Free-cash-flow yield | -5.3% | Payout ratio | 65% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 26: Weak
With a Wheel Score of 26 Emera Incorporated sits in the Weak band. It fails filter 3, below fair value - trades 95% above our fair value; and filter 5, can repay its debt - 10.3 years to repay its debt (over 6); and filter 6, no serious red flags - Red Flags score 55 (under 60); Value (weak) is its weakest part.
Implied volatility is 28% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is 2,829 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 553k shares a day on a market cap of $15.8B, 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 rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 95% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Fails | 10.3 years to repay its debt (over 6) |
| 6 | No serious red flags | Fails | Red Flags score 55 (under 60) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 95% above fair value | |
| Premium | Fair | implied volatility 28% | |
| Moat | Fair | moat 4.3/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Weak | Red Flags score 55/100 | |
| Option trading | Weak | 1,100 contracts a day, 2,829 open interest | |
| Stability | Good | beta 0.42, $15.8B company |
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
Emera Incorporated reports earnings on 6 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
No analyst upgrades or downgrades were recorded in the last 30 days.
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 |
|---|---|---|---|---|---|
| DUKB Duke Energy Corporation 5.625% | 20.48 | 35.05 | +42% | 31No options | $15.9B |
| KEP Korea Electric Power Corporation | 11.30 | 106.63 | +89% | 41Weak | $14.5B |
| SOJC The Southern Company JR 2017B NT 77 | 18.74 | 33.95 | +45% | 35No options | $18.7B |
| XELLL Xcel Energy Inc. 6.25% Junior Subordinated Notes, Series due 2085 | 21.57 | 22.17 | +3% | 15No options | $13.1B |
| LNT Alliant Energy Corporation | 73.77 | 49.60 | -49% | 28Weak | $19.1B |
| PNW Pinnacle West Capital Corporation | 105.57 | 65.28 | -62% | 31Weak | $12.8B |
| EVRG Evergy, Inc. | 86.21 | 49.44 | -74% | 27Weak | $19.9B |
| SOJD Southern Company (The) Series 2 | 17.57 | 33.32 | +47% | 35No options | $20.2B |
| CMS CMS Energy Corporation | 70.98 | 48.16 | -47% | 29Weak | $22.3B |
| CMSA CMS Energy Corporation 5.6% JRSUB NT 78 | 19.34 | 30.51 | +37% | 31No options | $22.5B |
| EIX Edison International | 61.48 | 236.56 | +74% | 50Fair | $23.7B |
| OGE OGE Energy Corp. | 50.63 | 33.86 | -50% | 28Weak | $10.5B |
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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 top 10 stocks that pass all 9 Wheel Trade Filters, 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 51.30 the stock trades 95% above the GLS average fair value of 26.24 (data as of 5 Nov 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 26 out of 100 (Weak) - it fails Wheel Trade Filters 3, 5, 6. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for EMA?
26.24 per share as of 5 Nov 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), 1 days from the data date of 5 Nov 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 32 listed contracts with 2,829 open interest across all expiries and implied volatility of 28% 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.