Stock fact sheet · data as of
Immersion Corporation (IMMR): fair value, margin of safety and Wheel Score
Ticker symbol IMMR · Technology · Software - Application · United States · Blend Income
Is IMMR undervalued?
Immersion Corporation (IMMR) closed at 7.16 on 5 Nov 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 179.67, which puts the price 96% below it. 5 of the 9 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.
There is a wide gap between Lynch (1.25) and DCF (1,497.64). 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 IMMR, so the nightly engine files it under Blend (value score 71, growth score 75, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for IMMR
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 | 1,497.64 | +20817% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 7.95 | +11% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 5.03 | -30% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 1.25 | -83% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 19.08 | +166% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 47.38 | +562% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 30.85 | +331% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 4.41 | -38% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 3.46 | -52% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 4.30 | -40% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 10.00 | +40% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Immersion Corporation 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 4.4/10 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 0.7%, ROE 1.5%, ROA 0.3% - with debt at 1.05 times equity and a free-cash-flow yield of 25.7%.
The dividend yield is high at 4.19% (payout ratio 102%) - a payout above 100% of earnings, which is not covered by profits. 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 Product and Other 94%, Rental Income 5%, Fixed Fee License and Per Unit Royalties 1% (quarter Q2 FY2026).
Institutional ownership scores 7/10, insider activity 9/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 7 Oct 2026.
| Piotroski F-score | 6 / 9 | ROIC | 0.7% |
|---|---|---|---|
| GLS Moat | 4.4 / 10 | ROE | 1.5% |
| Debt / equity | 1.05 | ROA | 0.3% |
| Free-cash-flow yield | 25.7% | Payout ratio | 102% |
| Institutions | 7 / 10 | Insiders · Congress | 9 · 5 / 10 |
Wheel Score 49: Weak
With a Wheel Score of 49 Immersion Corporation sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (10,780 open interest, 9 a day); and filter 5, can repay its debt - debt with no positive cash flow to repay it; and filter 8, big enough - market cap $238M (under $1.0B); Option trading (weak) is its weakest part.
Implied volatility is 49% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 10,780 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 317k shares a day on a market cap of $238M, with a beta of 0.94; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (10,780 open interest, 9 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 | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 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 | debt with no positive cash flow to repay it |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Fails | market cap $238M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 96% below fair value | |
| Premium | Strong | implied volatility 49% | |
| Moat | Fair | moat 4.4/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Good | Red Flags score 85/100 | |
| Option trading | Weak | 9 contracts a day, 10,780 open interest | |
| Stability | Fair | beta 0.94, $238M 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
No upcoming earnings date is recorded for IMMR in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Software - Application
The 12 companies below are the closest to Immersion Corporation by market cap within the Software - Application 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 |
|---|---|---|---|---|---|
| GLOO Gloo Holdings, Inc. | 2.90 | - | - | 15Weak | $238M |
| KLTR Kaltura, Inc. | 1.54 | 2.63 | +41% | 35Weak | $235M |
| RWWI Rand Worldwide, Inc. | 7.16 | 18.38 | +61% | 34No options | $241M |
| MCAP MCAP Inc. | 9.50 | 28.81 | +67% | 29No options | $234M |
| ARQQ Arqit Quantum Inc. | 13.87 | 2.58 | -438% | 12Weak | $241M |
| EXFY Expensify, Inc. | 2.38 | 3.95 | +40% | 25Weak | $230M |
| TRVG trivago N.V. | 3.54 | 6.20 | +43% | 29Weak | $250M |
| XPER Xperi Inc. | 5.36 | 5.86 | +9% | 27Weak | $261M |
| WEWA Wewards, Inc. | 2.00 | - | - | 12No options | $215M |
| RBBN Ribbon Communications Inc. | 1.54 | 4.75 | +68% | 26Weak | $276M |
| CURR Currenc Group, Inc. | 1.78 | 1.23 | -44% | 14No options | $200M |
| AZ A2Z Cust2Mate Solutions Corp. | 6.46 | - | - | 14Weak | $284M |
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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 IMMR
Is IMMR undervalued right now?
By the GLS models, yes: at 7.16 the stock is 96% below the average fair value of 179.67 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of IMMR and what does it mean?
IMMR scores 49 out of 100 (Weak) - it fails Wheel Trade Filters 1, 5, 8. 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 IMMR?
179.67 per share as of 5 Nov 2026 - the simple average of the 9 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 Immersion Corporation report earnings next?
No upcoming earnings date is recorded for IMMR in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does IMMR have listed options, and how liquid are they?
Yes. The nightly snapshot found 8 listed contracts with 10,780 open interest across all expiries and implied volatility of 49% 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.