Stock fact sheet · data as of
FS KKR Capital Corp. (FSK): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · Speculative / Distressed
Is FSK undervalued?
At 10.73 (close of 16 Oct 2026), FSK trades 79% below the GLS average fair value of 50.09. That average comes from 3 models run on the latest filings, and 3 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 FS KKR Capital Corp. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
Only 3 of the nine models produced a value (DCF, 10 Cap, DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files FSK under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for FSK
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 | 24.61 | +129% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | 95.63 | +791% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 30.02 | +180% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -27.86 | -360% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 11.75 | +10% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - FSK passes 5 of the nine Piotroski tests, which falls one point short of the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 2.1 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are thin or negative - ROIC 0.1%, ROE 0.2%, ROA 0.1% - with debt at 1.31 times equity and a free-cash-flow yield of 44.8%.
The dividend yield is high at 19.01% (payout ratio -193%). 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.
Institutional ownership scores 5/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 0.1% |
|---|---|---|---|
| GLS Moat | 2.1 / 10 | ROE | 0.2% |
| Debt / equity | 1.31 | ROA | 0.1% |
| Free-cash-flow yield | 44.8% | Payout ratio | -193% |
| Institutions | 5 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 45: Weak
FSK scores 45 out of 100 on the Wheel Score, in the Weak band (under 50), capped at 45 because the engine files it as Speculative / Distressed. Value 25/25, Health 11/20, Moat 3/15, Premium 14/20, Stability 18/20. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 29% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (14 of 20 points). The option chain is deep: 53,903 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 2.2M shares a day on a market cap of $3.0B, with a beta of 0.93; the Stability part of the Wheel Score gives that 18 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 79% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 3 / 15 | moat 2.1/10 | |
| Premium | 14 / 20 | implied volatility 29% | |
| Stability | 18 / 20 | 2.2M shares/day, $3.0B cap, beta 0.93 |
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 4 Nov 2026 (before the open), 19 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium. The next ex-dividend date is 1 Dec 2026 (0.2000 per share).
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to FS KKR Capital Corp. by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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|---|---|---|---|---|---|
| CLXRX Columbia Large Cap Index Fund Institutional 2 Class | 61.59 | 2,485.24 | +98% | 39No options | $2.9B |
| DHLYX Diamond Hill Large Cap Fund Class Y | 34.95 | 18.62 | -88% | 21No options | $2.9B |
| ARTMX Artisan Mid Cap Fund Inv Shs | 34.14 | 36.90 | +7% | 39No options | $2.9B |
| YAFIX AMG Yacktman Focused I | 23.81 | 29.22 | +19% | 39No options | $3.0B |
| VNJTX Vanguard New Jersey Long-Term Tax-Exempt Fund Investor Shares | 10.70 | 3.04 | -252% | 26No options | $3.0B |
| PSPAX PIMCO Stocks PLUS Bond Alpha A | 10.87 | 41.90 | +74% | 39No options | $2.9B |
| EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund | 9.37 | 55.25 | +83% | 39No options | $2.9B |
| HFMIX The Hartford MidCap Fund | 21.65 | 325.59 | +93% | 39No options | $3.1B |
| HFMSX The Hartford MidCap Fund Class R4 | 26.61 | 390.89 | +93% | 39No options | $3.1B |
| FCAMX Franklin California High Yield Municipal Fund Class A1 | 9.17 | 6.20 | -48% | 24No options | $3.1B |
| SII Sprott Inc. | 110.54 | 104.69 | -6% | 70Good | $2.8B |
| AAGPX American Beacon Large Cap Value Fund Investor Class | 25.33 | 46.42 | +45% | 39No options | $2.8B |
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Start free See the Sunday ScanQuestions about FSK
Is FSK undervalued right now?
By the GLS models, yes: at 10.73 the stock is 79% below the average fair value of 50.09 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of FSK and what does it mean?
FSK scores 45 out of 100 (Weak). 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 FSK?
50.09 per share as of 16 Oct 2026 - the simple average of the 3 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 FS KKR Capital Corp. report earnings next?
The next earnings report is due on 4 Nov 2026 (before the open), 19 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does FSK have listed options, and how liquid are they?
Yes. The nightly snapshot found 114 listed contracts with 53,903 open interest across all expiries and implied volatility of 29% 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.