High Templar Tech Limited (HTT): fair value, margin of safety and Wheel Score

Is HTT undervalued?

High Templar Tech Limited (HTT) closed at 2.14 on 16 Oct 2026. The GLS average fair value - the simple average of the 8 valuation models that produced a positive number - is 36.14, which puts the price 94% below it. 8 of the 8 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 8 models disagree widely: DCF gives 5.07 while Graham Number gives 76.72. 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.

The nightly engine files HTT under Value: positive earnings at a P/E of 18 or less.

Nine valuation models for HTT

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: HTT passes 4 of the nine Piotroski tests. Our screens drop the stock at the health rule; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 3.6 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 moderate - ROIC 5.4%, ROE 6.1%, ROA 5.2% - with debt at 0.14 times equity and negative free cash flow.

High Templar Tech Limited 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 Sales Income 100% (fiscal year FY2025).

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

Wheel Score 50: Fair

HTT scores 50 out of 100 on the Wheel Score (Fair band, 50-64): a usable but unremarkable fit for the wheel strategy. The parts: Value 25/25, Health 9/20, Moat 5/15, Premium 5/20, Stability 6/20. Premium (5/20) is where the points are missing.

Implied volatility is 150%, far above the range the wheel strategy is built for. The premium looks generous; the Wheel Score gives it only 5 of 20 Premium points because moves of that size can blow through any strike. Chain open interest is 3,771 contracts across all expiries - enough for the wheel at normal size.

Volume runs at 95k shares a day on a market cap of $359M, with a beta of 1.26 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 6 of 20.

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 14 Dec 2026, 59 days away - outside the window of a 30-45-day put sold today.

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

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