Terra Innovatum Global N.V. Ordinary shares (NKLR): fair value, margin of safety and Wheel Score

Is NKLR undervalued?

Terra Innovatum Global N.V. Ordinary shares (NKLR) closed at 2.34 on 5 Nov 2026. The GLS average fair value - the simple average of the 5 valuation models that produced a positive number - is 145.33, which puts the price 98% below it. 4 of the 5 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 DCF (1.87) and GLS Growth (287.13). 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 NKLR 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 NKLR

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.

Quality and financial health

Terra Innovatum Global N.V. Ordinary shares 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 1.6/10 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 -576.5%, ROE -576.5%, ROA 508.3% - with debt at 0.00 times equity and negative free cash flow.

Terra Innovatum Global N.V. Ordinary shares 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 1/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 25: Weak

With a Wheel Score of 25 Terra Innovatum Global N.V. Ordinary shares sits in the Weak band. It fails filter 1, options that actually trade - options too quiet (795 open interest, 100 a day); and filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 3/9 (under 6); and filter 6, no serious red flags - Red Flags score 55 (under 60); and filter 7, a premium worth selling - implied volatility 103% (over 80%); and filter 8, big enough - market cap $259M (under $1.0B); and filter 9, not a penny stock - price 2.34 (under $5); Option trading (weak) is its weakest part.

Implied volatility is 103%, 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 - 795 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 330k shares a day on a market cap of $259M, with a beta of 1.55 - 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 weak.

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

Terra Innovatum Global N.V. Ordinary shares reports earnings on 13 Nov 2026 (before the open) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.

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.

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