Stock fact sheet · data as of
Mitek Systems, Inc. (MITK): fair value, margin of safety and Wheel Score
Technology · Software - Application · United States · Blend
Is MITK undervalued?
At 16.88 (close of 16 Oct 2026), MITK trades 14% under the GLS average fair value of 19.66. 4 of the 8 models that produced a value land above the price. A discount of this size counts as a positive margin of safety in every GLS screen; whether it is enough depends on the rest of the picture - the health score, the moat and the option premium below.
There is a wide gap between EPV (5.54) and Payback Time (42.61). 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 MITK under Blend.
Nine valuation models for MITK
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 | 10.32 | -39% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 7.89 | -53% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 23.99 | +42% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 10.15 | -40% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 30.54 | +81% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 26.21 | +55% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 42.61 | +152% | 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 | 5.54 | -67% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 0.6569 | -96% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 26.00 | +54% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Mitek Systems, Inc. scores 8 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the Sunday Scan's "6 or more" rule with room to spare. On durability MITK scores 6.2/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are thin or negative - ROIC 2.2%, ROE 3.7%, ROA 1.9% - with debt at 0.65 times equity and a free-cash-flow yield of 6.4%.
Mitek Systems, Inc. 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 Service, Other 62%, License 38% (quarter Q3 FY2026).
Institutional ownership scores 10/10, insider activity 2/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 8 / 9 | ROIC | 2.2% |
|---|---|---|---|
| GLS Moat | 6.2 / 10 | ROE | 3.7% |
| Debt / equity | 0.65 | ROA | 1.9% |
| Free-cash-flow yield | 6.4% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 2 · 5 / 10 |
Wheel Score 77: Good
With a Wheel Score of 77 - the Good band - Mitek Systems, Inc. clears the Sunday Scan's "70 or higher" rule. The parts: Value 18/25, Health 18/20, Moat 9/15, Premium 18/20, Stability 13/20; Moat (9/15) scores lowest.
Implied volatility is 68% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (18 of 20) because volatility this high usually comes with a reason. Chain open interest is 37,012 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 930k shares a day on a market cap of $762M, with a beta of 0.94; the Stability part of the Wheel Score gives that 13 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 18 / 25 | 14% margin of safety | |
| Health | 18 / 20 | Piotroski 8/9 | |
| Moat | 9 / 15 | moat 6.2/10 | |
| Premium | 18 / 20 | implied volatility 68% | |
| Stability | 13 / 20 | 930k shares/day, $762M cap, beta 0.94 |
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
Mitek Systems, Inc. reports earnings on 29 Oct 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
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 Mitek Systems, Inc. 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 |
|---|---|---|---|---|---|
| BKSY BlackSky Technology Inc. | 18.45 | - | - | 45Weak | $755M |
| MNTN MNTN, Inc Class A | 10.49 | 25.83 | +59% | 75Good | $785M |
| HKD AMTD Digital Inc. | 1.67 | 1.49 | -12% | 26No options | $798M |
| SMWB Similarweb Ltd. | 8.30 | 7.64 | -9% | 45Weak | $727M |
| PUBM PubMatic, Inc. | 17.64 | 18.61 | +5% | 45Weak | $804M |
| DCBO Docebo Inc. | 28.12 | 42.54 | +34% | 72Good | $702M |
| VTEX Vtex | 4.06 | 5.87 | +31% | 83Prime | $683M |
| RZLV Rezolve AI PLC | 1.71 | - | - | 45Weak | $682M |
| DSP Viant Technology Inc. | 12.85 | 6.36 | -102% | 44Weak | $855M |
| SVMB Jingbo Technology, Inc. | 1.54 | - | - | 28No options | $855M |
| YALA Yalla Group Limited | 5.67 | 16.15 | +65% | 81Prime | $861M |
| SPT Sprout Social, Inc. | 11.04 | 17.67 | +38% | 45Weak | $669M |
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Start free See the Sunday ScanQuestions about MITK
Is MITK undervalued right now?
By the GLS models, moderately: at 16.88 the stock trades 14% below the average fair value of 19.66 (data as of 16 Oct 2026).
What is the Wheel Score of MITK and what does it mean?
MITK scores 77 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for MITK?
19.66 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 Mitek Systems, Inc. report earnings next?
The next earnings report is due on 29 Oct 2026 (after the close), 13 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does MITK have listed options, and how liquid are they?
Yes. The nightly snapshot found 190 listed contracts with 37,012 open interest across all expiries and implied volatility of 68% 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.