Stock fact sheet · data as of
The GDL Fund (GDL): fair value, margin of safety and Wheel Score
Financial Services · Asset Management · United States · Speculative / Distressed
Is GDL undervalued?
GDL has a margin of safety of 54%: the stock closed at 8.31 on 16 Oct 2026 against a GLS average fair value of 18.24. 4 of the 7 valuation models that produced a number sit above the price. Our screens treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
There is a wide gap between DCF (0.6540) and GLS Growth (42.40). 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 GDL 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 GDL
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 | 0.6540 | -92% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 12.91 | +55% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 39.61 | +377% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 17.31 | +108% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 42.40 | +410% | 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 | 7.06 | -15% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 7.70 | -7% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -1.88 | -123% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
The GDL Fund scores only 0 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 4.5/10 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 moderate - ROIC 6.6%, ROE 6.6%, ROA 5.6% - with debt at 0.00 times equity and negative free cash flow.
The dividend yield is high at 5.78% (payout ratio 70%). 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 6/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 0 / 9 | ROIC | 6.6% |
|---|---|---|---|
| GLS Moat | 4.5 / 10 | ROE | 6.6% |
| Debt / equity | 0.00 | ROA | 5.6% |
| Free-cash-flow yield | -4.4% | Payout ratio | 70% |
| Institutions | 6 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 38: No options
No options are listed on The GDL Fund in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 38) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 68k shares a day on a market cap of $89M, with a beta of 0.23 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 54% margin of safety | |
| Health | 0 / 20 | Piotroski 0/9 | |
| Moat | 7 / 15 | moat 4.5/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 6 / 20 | 68k shares/day, $89M cap, beta 0.23 |
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
No upcoming earnings date is recorded for GDL in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
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The 12 companies below are the closest to The GDL Fund 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.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| MSSVX AMG Frontier Small Cap Growth Fund - Class N | 8.94 | 5.75 | -55% | 11No options | $90M |
| AUC ATIF Holdings Limited Ordinary Shares | 8.75 | - | - | 19No options | $90M |
| IGI Western Asset Investment Grade Defined Opportunity Trust Inc. | 15.36 | 26.71 | +42% | 35No options | $92M |
| SAX Saratoga Investment Corp. 8 % Notes 2026-31.08.31 | 25.37 | 47.82 | +47% | 31No options | $86M |
| PFX PhenixFIN Corporation | 44.59 | 376.42 | +88% | 39No options | $86M |
| RMI RiverNorth Opportunistic Municipal Income Fund, Inc. | 13.42 | 29.73 | +55% | 39No options | $86M |
| PFXNZ PhenixFIN Corporation 5.25% Notes due 2028 | 24.05 | 351.84 | +93% | 39No options | $85M |
| MGLD The Marygold Companies, Inc. | 1.98 | - | - | 30No options | $85M |
| WMKMX WesMark West Virginia Municipal Bond Fund | 9.28 | 5.01 | -85% | 22No options | $84M |
| AFJAX Virtus NFJ International Value Fund | 27.58 | 73.99 | +63% | 39No options | $84M |
| BCIC BCP Investment Corporation | 6.67 | 38.46 | +83% | 45Weak | $83M |
| HNNA Hennessy Advisors, Inc. | 10.43 | 17.03 | +39% | 39No options | $82M |
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Start free See the Sunday ScanQuestions about GDL
Is GDL undervalued right now?
By the GLS models, yes: at 8.31 the stock is 54% below the average fair value of 18.24 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of GDL and what does it mean?
GDL has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for GDL?
18.24 per share as of 16 Oct 2026 - the simple average of the 7 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 The GDL Fund report earnings next?
No upcoming earnings date is recorded for GDL in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does GDL have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on GDL, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.