Opera Limited (OPRA): fair value, margin of safety and Wheel Score

Is OPRA undervalued?

At 18.17 (close of 16 Oct 2026), OPRA trades 51% below the GLS average fair value of 37.16. That average comes from 9 models run on the latest filings, and 7 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Opera Limited the full Value points in the Wheel Score - and a closer look at what the market is pricing in.

The 9 models disagree widely: DDM gives 11.77 while GLS Growth gives 86.79. 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 OPRA under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.

Nine valuation models for OPRA

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

Financial health is average - OPRA passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 8.2 out of 10, built from ten years of revenue, earnings, margins, cash flow, share count and returns on capital scored for consistency - a high reading that points to a durable business.

Returns on capital are moderate - ROIC 10.6%, ROE 10.7%, ROA 9.5% - with debt at 0.01 times equity and a free-cash-flow yield of 7.5%.

The dividend yield is high at 4.40% (payout ratio 56%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Advertising [member] 100% (fiscal year FY2025).

Institutional ownership scores 2/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 82: Prime

OPRA scores 82 out of 100 on the Wheel Score, in the Prime band (80 and above), which fewer than one stock in twenty reaches on any night. The score blends five things a wheel trader checks before selling a cash-secured put: the margin of safety (Value, 25/25), Piotroski health (13/20), the GLS moat (12/15), the option premium on offer (20/20) and how easily the stock trades (11/20).

Implied volatility is 51% 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 24,290 contracts across all expiries - enough for the wheel at normal size.

Volume runs at 237k shares a day on a market cap of $1.6B, with a beta of 1.20 - 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 11 of 20.

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 4 Nov 2026 (before the open), 19 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.

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