Stock fact sheet · data as of
nCino, Inc. (NCNO): fair value, margin of safety and Wheel Score
Technology · Software - Application · United States · High Growth
Is NCNO undervalued?
nCino, Inc. (NCNO) closed at 21.12 on 16 Oct 2026, 23% above the GLS average fair value of 17.15. Only 3 of the 8 models that produced a number value the shares above the current price. The margin of safety is negative, so the stock fails the "below fair value" rule of the Sunday Scan; a premium of this size is common for companies whose growth the models are conservative about.
The 8 models disagree widely: EPV gives 3.58 while Payback Time gives 31.87. 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 NCNO under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for NCNO
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 | 28.52 | +35% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 8.03 | -62% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 13.98 | -34% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 5.78 | -73% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 19.71 | -7% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 25.70 | +22% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 31.87 | +51% | 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 | 3.58 | -83% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -2.70 | -113% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 23.43 | +11% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health NCNO 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 4.0 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 0.4%, ROE 0.5%, ROA 0.3% - with debt at 0.26 times equity and a free-cash-flow yield of 5.9%.
nCino, 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 License and Service 89%, Professional Services 11% (quarter Q2 FY2027).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 0.4% |
|---|---|---|---|
| GLS Moat | 4.0 / 10 | ROE | 0.5% |
| Debt / equity | 0.26 | ROA | 0.3% |
| Free-cash-flow yield | 5.9% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 62: Fair
NCNO scores 62 out of 100 on the Wheel Score (Fair band, 50-64): a usable but unremarkable fit for the wheel strategy. The parts: Value 3/25, Health 16/20, Moat 6/15, Premium 20/20, Stability 17/20. Value (3/25) is where the points are missing.
Implied volatility is 59% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 6,331 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 2.5M shares a day on a market cap of $2.2B, with a beta of 0.69 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 17 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 3 / 25 | -23% margin of safety | |
| Health | 16 / 20 | Piotroski 7/9 | |
| Moat | 6 / 15 | moat 4.0/10 | |
| Premium | 20 / 20 | implied volatility 59% | |
| Stability | 17 / 20 | 2.5M shares/day, $2.2B cap, beta 0.69 |
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 2 Dec 2026, 47 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.
Similar stocks in Software - Application
The 12 companies below are the closest to nCino, 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.
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|---|---|---|---|---|---|
| DBD Diebold Nixdorf, Incorporated | 66.57 | 138.29 | +52% | 73Good | $2.3B |
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| BLKB Blackbaud, Inc. | 51.39 | 58.35 | +12% | 76Good | $2.3B |
| DV DoubleVerify Holdings, Inc. | 13.54 | 13.67 | +1% | 80Prime | $2.1B |
| AMPL Amplitude, Inc. | 15.83 | 5.02 | -215% | 43Weak | $2.1B |
| ASAN Asana, Inc. | 10.42 | 9.56 | -9% | 45Weak | $2.4B |
| ADEA Adeia Inc. | 21.74 | 21.03 | -3% | 66Good | $2.4B |
| VERX Vertex, Inc. | 12.74 | 3.21 | -296% | 50Fair | $2.1B |
| VIA Via Transportation, Inc. | 31.35 | 30.40 | -3% | 45Weak | $2.4B |
| PLUS ePlus inc. | 94.75 | 50.08 | -89% | 58Fair | $2.5B |
| SOUN SoundHound AI, Inc. | 4.53 | - | - | 45Weak | $2.0B |
| KARO Karooooo Ltd. | 62.54 | 149.49 | +58% | 39No options | $1.9B |
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Start free See the Sunday ScanQuestions about NCNO
Is NCNO undervalued right now?
No: at 21.12 the stock trades 23% above the GLS average fair value of 17.15 (data as of 16 Oct 2026). The margin of safety is negative.
What is the Wheel Score of NCNO and what does it mean?
NCNO scores 62 out of 100 (Fair). 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 NCNO?
17.15 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 nCino, Inc. report earnings next?
The next earnings report is due on 2 Dec 2026 (after the close), 47 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does NCNO have listed options, and how liquid are they?
Yes. The nightly snapshot found 154 listed contracts with 6,331 open interest across all expiries and implied volatility of 59% 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.