Stock fact sheet · data as of
IperionX Limited (IPX): fair value, margin of safety and Wheel Score
Ticker symbol IPX · Basic Materials · Other Precious Metals · United States · ADR · Speculative
IPX is an American depositary share (ADR): the US listing of IperionX Limited, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.
Is IPX undervalued?
IPX closed at 15.21 on 5 Nov 2026, more than 30% above the GLS average fair value of 8.86. Only 0 of the 1 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.
The average is built from just 1 models (DCF) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files IPX under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for IPX
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 | 8.86 | -42% | 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 | - | - | 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 | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | 0.7901 | -95% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 39.50 | +160% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
IperionX Limited scores only 3 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. 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 0.9/10 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 -72.5%, ROE -76.0%, ROA -63.4% - with debt at 0.05 times equity and negative free cash flow.
IperionX Limited pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.
Institutional ownership scores 10/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | -72.5% |
|---|---|---|---|
| GLS Moat | 0.9 / 10 | ROE | -76.0% |
| Debt / equity | 0.05 | ROA | -63.4% |
| Free-cash-flow yield | -8.3% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 13: Weak
With a Wheel Score of 13 IperionX Limited sits in the Weak band. It fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades 72% above our fair value; and filter 4, financially healthy - Piotroski 3/9 (under 6); and filter 5, can repay its debt - debt with no positive cash flow to repay it; and filter 6, no serious red flags - Red Flags score 45 (under 60); and filter 7, a premium worth selling - implied volatility 91% (over 80%); and filter 8, big enough - market cap $510M (under $1.0B); Value (weak) is its weakest part.
Implied volatility is 91%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is thin - 1,565 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 257k shares a day on a market cap of $510M, with a beta of 1.34 - 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 rates that fair.
| 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 | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades 72% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 3/9 (under 6) |
| 5 | Can repay its debt | Fails | debt with no positive cash flow to repay it |
| 6 | No serious red flags | Fails | Red Flags score 45 (under 60) |
| 7 | A premium worth selling | Fails | implied volatility 91% (over 80%) |
| 8 | Big enough | Fails | market cap $510M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 72% above fair value | |
| Premium | Fair | implied volatility 91% | |
| Moat | Weak | moat 0.9/10 | |
| Health | Weak | Piotroski 3/9 | |
| Red Flags | Weak | Red Flags score 45/100 | |
| Option trading | Weak | 132 contracts a day, 1,565 open interest | |
| Stability | Fair | beta 1.34, $510M 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 IPX in the nightly calendar.
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 Other Precious Metals
The 12 companies below are the closest to IperionX Limited by market cap within the Other Precious Metals 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 |
|---|---|---|---|---|---|
| ALOY REalloys Inc. | 6.66 | - | - | 16Weak | $462M |
| ITRG Integra Resources Corp. | 2.19 | 4.45 | +51% | 29No options | $444M |
| ELVR Elevra Lithium Limited | 22.63 | 151.04 | +85% | 27No options | $437M |
| SCZM Santacruz Silver Mining Ltd. | 7.69 | 14.63 | +47% | 31No options | $715M |
| LZM Lifezone Metals Limited | 3.94 | - | - | 15Weak | $354M |
| MTA Metalla Royalty & Streaming Ltd. | 7.88 | 0.8525 | -824% | 26Weak | $737M |
| VOXR Vox Royalty Corp. | 4.91 | 16.73 | +71% | 49Weak | $341M |
| ASM Avino Silver & Gold Mines Ltd. | 4.74 | 5.18 | +9% | 28Weak | $805M |
| MUX McEwen Mining Inc. | 14.93 | 38.08 | +61% | 42Weak | $892M |
| TMC TMC the metals company inc. | 2.31 | 0.2076 | -1013% | 14Weak | $1.0B |
| SLSR Solaris Resources Inc | 7.27 | 1.17 | -519% | 18Weak | $1.2B |
| NVA Nova Minerals Corp | 5.24 | 0.7247 | -623% | 9Weak | $200M |
Scan the whole market the same way
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 IPX
Is IPX undervalued right now?
No: at 15.21 the stock trades 72% above the GLS average fair value of 8.86 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of IPX and what does it mean?
IPX scores 13 out of 100 (Weak) - it fails Wheel Trade Filters 2, 3, 4, 5, 6, 7, 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 IPX?
8.86 per share as of 5 Nov 2026 - the simple average of the 1 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 IperionX Limited report earnings next?
No upcoming earnings date is recorded for IPX in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does IPX have listed options, and how liquid are they?
Yes. The nightly snapshot found 30 listed contracts with 1,565 open interest across all expiries and implied volatility of 91% 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.
Is IPX an ADR?
Yes. IPX is an American depositary share (ADR): the US listing of IperionX Limited, whose own shares trade on its home exchange. It trades in dollars during US hours; currency moves and the home country's rules also affect it, and the depositary bank charges a small yearly fee.