Stock fact sheet · data as of
Netlist, Inc. (NLST): fair value, margin of safety and Wheel Score
Technology · Semiconductors · United States · Blend
Is NLST undervalued?
Netlist, Inc. (NLST) closed at 5.91 on 16 Oct 2026, 19328% above the GLS average fair value of 0.0304. 5 of the 5 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
There is a wide gap between GLS Growth (0.0106) and Graham Number (0.0619). 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 NLST under Blend.
Nine valuation models for NLST
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 | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | 0.0619 | -99% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 0.0417 | -99% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 0.0111 | -100% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 0.0106 | -100% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 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 | 0.0268 | -100% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -0.0194 | -100% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 15.00 | +154% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Netlist, Inc. scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. A GLS Moat score of 1.0/10 is a weak reading: the ten-year history the score grades (revenue, EPS, book value, margins, cash flow, share count, ROIC) has not been steady, so the Moat part of the Wheel Score contributes little.
Returns on capital are high - ROIC 731.8%, ROE 477.1%, ROA -50.2% - with debt at -0.35 times equity and negative free cash flow.
Netlist, 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 Sale of the Company's modular memory su… 100% (quarter Q2 FY2026).
Institutional ownership scores 1/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 731.8% |
|---|---|---|---|
| GLS Moat | 1.0 / 10 | ROE | 477.1% |
| Debt / equity | -0.35 | ROA | -50.2% |
| Free-cash-flow yield | -0.8% | Payout ratio | 0% |
| Institutions | 1 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 26: No options
No options are listed on Netlist, Inc. in our nightly snapshot. The Wheel Score is therefore capped at 39 (it reads 26) and the stock is left out of every options screen; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 509k shares a day on a market cap of $2.0B, with a beta of 1.28 - 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 gives that 13 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 0 / 25 | -19328% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 2 / 15 | moat 1.0/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 13 / 20 | 509k shares/day, $2.0B cap, beta 1.28 |
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 5 Nov 2026 (before the open), 20 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Semiconductors
The 12 companies below are the closest to Netlist, Inc. by market cap within the Semiconductors industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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|---|---|---|---|---|---|
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| ICHR Ichor Holdings, Ltd. | 46.65 | 4.34 | -974% | 38Weak | $1.7B |
| OUST Ouster, Inc. | 31.33 | - | - | 44Weak | $2.3B |
| AEHR Aehr Test Systems | 69.21 | 4.38 | -1481% | 28Weak | $2.3B |
| IMOS ChipMOS TECHNOLOGIES Inc. | 65.14 | 152.05 | +57% | 74Good | $2.3B |
| PLAB Photronics, Inc. | 28.36 | 34.92 | +19% | 76Good | $1.7B |
| NVTS Navitas Semiconductor Corp | 9.23 | - | - | 42Weak | $2.4B |
| POWI Power Integrations, Inc. | 44.78 | 14.94 | -200% | 49Weak | $2.5B |
| UCTT Ultra Clean Holdings, Inc. | 56.79 | 1.40 | -3945% | 32Weak | $2.6B |
| COHU Cohu, Inc. | 54.90 | 13.81 | -298% | 42Weak | $2.6B |
| AMBA Ambarella, Inc. | 63.35 | 7.60 | -734% | 45Weak | $2.8B |
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Start free See the Sunday ScanQuestions about NLST
Is NLST undervalued right now?
No: at 5.91 the stock trades 19328% above the GLS average fair value of 0.0304 (data as of 16 Oct 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of NLST and what does it mean?
NLST 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 NLST?
0.0304 per share as of 16 Oct 2026 - the simple average of the 5 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 Netlist, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (before the open), 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does NLST have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on NLST, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.