Stock fact sheet · data as of
Phunware, Inc. (PHUN): fair value, margin of safety and Wheel Score
Technology · Software - Application · United States · Speculative / Distressed
Is PHUN undervalued?
At 2.04 (close of 16 Oct 2026), PHUN trades 53% below the GLS average fair value of 4.37. That average comes from 1 models run on the latest filings, and 1 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 Phunware, Inc. the full Value points in the Wheel Score - and a closer look at what the market is pricing in.
The average is built from just 1 models (DCF) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files PHUN under Speculative / Distressed - negative earnings or a Piotroski score of 3 or less - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for PHUN
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 | 4.37 | +114% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 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 | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | 4.67 | +129% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 9.83 | +382% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Phunware, Inc. scores only 2 of 9 on the Piotroski F-score, which fails the Sunday Scan's "6 or more" rule. 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 1.9/10 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 thin or negative - ROIC -11.8%, ROE -11.8%, ROA -9.4% - with debt at 0.01 times equity and negative free cash flow.
Phunware, 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 Software subscriptions and services 94%, Advertising 7% (quarter Q2 FY2026).
Institutional ownership scores 2/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 2 / 9 | ROIC | -11.8% |
|---|---|---|---|
| GLS Moat | 1.9 / 10 | ROE | -11.8% |
| Debt / equity | 0.01 | ROA | -9.4% |
| Free-cash-flow yield | -26.2% | Payout ratio | 0% |
| Institutions | 2 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 39: Weak
With a Wheel Score of 39 Phunware, Inc. sits in the Weak band. The parts - Value 25/25, Health 4/20, Moat 3/15, Premium 5/20, Stability 2/20 - show where: Stability (2/20) scores lowest.
Implied volatility is 138%, far above the range the wheel strategy is built for. The premium looks generous; the Wheel Score gives it only 5 of 20 Premium points because moves of that size can blow through any strike. Chain open interest is 9,002 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 115k shares a day on a market cap of $42M, with a beta of 2.63 - 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 2 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 25 / 25 | 53% margin of safety | |
| Health | 4 / 20 | Piotroski 2/9 | |
| Moat | 3 / 15 | moat 1.9/10 | |
| Premium | 5 / 20 | implied volatility 138% | |
| Stability | 2 / 20 | 115k shares/day, $42M cap, beta 2.63 |
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, 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.
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| REKR Rekor Systems, Inc. | 0.3381 | - | - | 39Weak | $47M |
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| FRMM Forum Markets, Incorporated | 3.77 | - | - | 35Weak | $50M |
| MAPS WM Technology, Inc. | 0.3040 | 1.10 | +72% | 45Weak | $34M |
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| INVUP Investview, Inc. | 20.00 | - | - | 29No options | $34M |
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Start free See the Sunday ScanQuestions about PHUN
Is PHUN undervalued right now?
By the GLS models, yes: at 2.04 the stock is 53% below the average fair value of 4.37 (data as of 16 Oct 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of PHUN and what does it mean?
PHUN scores 39 out of 100 (Weak). 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 PHUN?
4.37 per share as of 16 Oct 2026 - the simple average of the 1 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 Phunware, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026, 20 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does PHUN have listed options, and how liquid are they?
Yes. The nightly snapshot found 30 listed contracts with 9,002 open interest across all expiries and implied volatility of 138% 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.