Stock fact sheet · data as of
Ondas Holdings Inc. (ONDS): fair value, margin of safety and Wheel Score
Ticker symbol ONDS · Technology · Communication Equipment · United States · Speculative
Is ONDS undervalued?
Ondas Holdings Inc. (ONDS) closed at 5.27 on 5 Nov 2026. The GLS average fair value - the simple average of the 5 valuation models that produced a positive number - is 9.04, which puts the price 42% below it. 2 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.
The 5 models disagree widely: EPV gives 3.72 while GLS Growth gives 20.49. 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 ONDS 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 ONDS
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 | 4.86 | -8% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 11.61 | +120% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 4.51 | -14% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 20.49 | +289% | 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 | 3.72 | -29% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 0.0424 | -99% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 18.50 | +251% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: ONDS passes 3 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 1.4 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -29.3%, ROE -30.2%, ROA -11.6% - with debt at 0.03 times equity and negative free cash flow.
Ondas Holdings 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 Product Revenue 81%, Development Revenue 19% (quarter Q2 FY2022).
Institutional ownership scores 7/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 3 / 9 | ROIC | -29.3% |
|---|---|---|---|
| GLS Moat | 1.4 / 10 | ROE | -30.2% |
| Debt / equity | 0.03 | ROA | -11.6% |
| Free-cash-flow yield | -5.6% | Payout ratio | 0% |
| Institutions | 7 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 32: Weak
ONDS scores 32 out of 100 on the Wheel Score, in the Weak band (under 50): it fails 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 5, can repay its debt - debt with no positive cash flow to repay it; and filter 6, no serious red flags - Red Flags score 55 (under 60); and filter 7, a premium worth selling - implied volatility 95% (over 80%), and the parts are thin too - value strong, premium fair, moat weak, health weak, red flags weak, option trading strong, stability weak. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 95%, 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. The option chain is deep: 460,676 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 52.4M shares a day on a market cap of $3.1B, with a beta of 3.08 - 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.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 3/9 (under 6) |
| 5 | Can repay its debt | Fails | debt with no positive cash flow to repay it |
| 6 | No serious red flags | Fails | Red Flags score 55 (under 60) |
| 7 | A premium worth selling | Fails | implied volatility 95% (over 80%) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 42% below fair value | |
| Premium | Fair | implied volatility 95% | |
| Moat | Weak | moat 1.4/10 | |
| Health | Weak | Piotroski 3/9 | |
| Red Flags | Weak | Red Flags score 55/100 | |
| Option trading | Strong | 94,077 contracts a day, 460,676 open interest | |
| Stability | Weak | beta 3.08, $3.1B company |
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
Ondas Holdings Inc. reports earnings on 12 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.
Analysts upgraded ONDS 1 time in the last 30 days with no downgrades; the latest action was an upgrade by Goldman Sachs on 2 Nov 2026.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Communication Equipment
The 12 companies below are the closest to Ondas Holdings Inc. by market cap within the Communication Equipment 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 |
|---|---|---|---|---|---|
| EXTR Extreme Networks, Inc. | 22.84 | 8.75 | -161% | 39Weak | $3.0B |
| DGII Digi International Inc. | 72.58 | 44.69 | -62% | 35Weak | $2.8B |
| FUNR Funr | 0.2400 | 0.0000 | -726861% | 14No options | $2.4B |
| BDC Belden Inc. | 105.15 | 87.55 | -20% | 36Weak | $4.1B |
| CALX Calix, Inc. | 33.85 | 24.14 | -40% | 35Weak | $2.1B |
| AAOI Applied Optoelectronics, Inc. | 59.27 | - | - | 12Weak | $5.0B |
| ARLO Arlo Technologies, Inc. | 15.22 | 9.88 | -54% | 27Weak | $1.6B |
| VISN Vistance Networks, Inc. | 6.44 | 51.45 | +87% | 39Weak | $1.5B |
| VIAV Viavi Solutions Inc. | 29.38 | 7.87 | -273% | 34Weak | $7.2B |
| HLIT Harmonic Inc. | 10.21 | 2.03 | -403% | 33Weak | $1.1B |
| VSAT Viasat, Inc. | 66.79 | 65.02 | -3% | 26Weak | $9.2B |
| FEIM Frequency Electronics, Inc. | 61.52 | 11.88 | -418% | 23Weak | $694M |
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Start free See the Sunday ScanQuestions about ONDS
Is ONDS undervalued right now?
By the GLS models, yes: at 5.27 the stock is 42% below the average fair value of 9.04 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of ONDS and what does it mean?
ONDS scores 32 out of 100 (Weak) - it fails Wheel Trade Filters 2, 4, 5, 6, 7. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for ONDS?
9.04 per share as of 5 Nov 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 Ondas Holdings Inc. report earnings next?
The next earnings report is due on 12 Nov 2026 (before the open), 7 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does ONDS have listed options, and how liquid are they?
Yes. The nightly snapshot found 142 listed contracts with 460,676 open interest across all expiries and implied volatility of 95% 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.