Stock fact sheet · data as of
Metalpha Technology Holding Limited (MATH): fair value, margin of safety and Wheel Score
Financial Services · Financial - Capital Markets · Hong Kong SAR China · Blend
Is MATH undervalued?
At 1.08 (close of 16 Oct 2026), MATH trades 83% below the GLS average fair value of 6.44. That average comes from 8 models run on the latest filings, and 4 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 Metalpha Technology Holding Limited the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The 8 models disagree widely: DCF gives 0.3414 while 10 Cap gives 41.29. 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 MATH under Blend.
Nine valuation models for MATH
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 | 0.3414 | -68% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 1.06 | -1% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 1.99 | +85% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 0.8713 | -19% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 2.13 | +98% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 41.29 | +3741% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 3.45 | +221% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 0.3872 | -64% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 1.10 | +2% | 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
On financial health MATH scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is low at 1.8 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 2.4%, ROE 2.4%, ROA 0.3% - with debt at 0.01 times equity and a free-cash-flow yield of 148.2%.
Metalpha Technology Holding 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 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 2.4% |
|---|---|---|---|
| GLS Moat | 1.8 / 10 | ROE | 2.4% |
| Debt / equity | 0.01 | ROA | 0.3% |
| Free-cash-flow yield | 148.2% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 39: No options
MATH has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business; the Wheel Score is capped at 39 and shown as "No options" (39 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 62k shares a day on a market cap of $51M, with a beta of -0.71 - 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 | 83% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 3 / 15 | moat 1.8/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 6 / 20 | 62k shares/day, $51M cap, beta -0.71 |
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 MATH in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Financial - Capital Markets
The 12 companies below are the closest to Metalpha Technology Holding Limited by market cap within the Financial - Capital Markets 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 |
|---|---|---|---|---|---|
| NCTY The9 Limited | 3.39 | 12.36 | +73% | 36No options | $52M |
| DOMH Dominari Holdings Inc. | 2.04 | 11.20 | +82% | 42Weak | $49M |
| HGBL Heritage Global Inc. | 1.25 | 8.56 | +85% | 39No options | $43M |
| CFOR CapForce Inc. | 4.04 | 102.05 | +96% | 39No options | $42M |
| BTCS BTCS Inc. | 1.21 | 0.7357 | -64% | 18Weak | $63M |
| SRL Scully Royalty Ltd. | 4.75 | 4.78 | +1% | 42Weak | $72M |
| COHN Cohen & Company Inc. | 10.76 | 141.88 | +92% | 39No options | $35M |
| GRAN Grande Group Limited Class A Ordinary Shares | 1.28 | 0.0357 | -3485% | 18No options | $32M |
| SIEB Siebert Financial Corp. | 2.02 | 8.79 | +77% | 45Weak | $83M |
| PLUT Plutus Financial Group Limited | 1.98 | 0.3584 | -452% | 10No options | $30M |
| FLD Fold Holdings, Inc. | 0.5231 | 0.0883 | -493% | 19Weak | $29M |
| BMHL Bluemount Holdings Limited | 3.58 | 2.35 | -52% | 23No options | $91M |
⚖ Compare MATH with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about MATH
Is MATH undervalued right now?
By the GLS models, yes: at 1.08 the stock is 83% below the average fair value of 6.44 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of MATH and what does it mean?
MATH 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 MATH?
6.44 per share as of 16 Oct 2026 - the simple average of the 8 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 Metalpha Technology Holding Limited report earnings next?
No upcoming earnings date is recorded for MATH in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does MATH have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on MATH, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.