Stock fact sheet · data as of
Smith Micro Software, Inc. (SMSI): fair value, margin of safety and Wheel Score
Ticker symbol SMSI · Technology · Software - Application · United States · Speculative
Is SMSI undervalued?
Smith Micro Software, Inc. (SMSI) closed at 2.32 on 5 Nov 2026. None of the nine GLS valuation models produced a positive value for the stock - the company lost money over the last twelve months, EPS -3.02, it pays no dividend and its debts exceed what its assets would fetch - so there is no GLS average fair value and no margin of safety to report. The quality, option and event numbers below still apply; the Quote page's Wall Street View shows what analysts expect instead.
The nightly engine files SMSI 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 SMSI
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 | - | - | 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) | -0.3671 | -116% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: SMSI passes 4 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 2.4 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 -145.2%, ROE -163.7%, ROA -120.5% - with debt at 0.13 times equity and negative free cash flow.
Smith Micro Software, 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 License and Service 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 | 4 / 9 | ROIC | -145.2% |
|---|---|---|---|
| GLS Moat | 2.4 / 10 | ROE | -163.7% |
| Debt / equity | 0.13 | ROA | -120.5% |
| Free-cash-flow yield | -69.4% | Payout ratio | -1% |
| Institutions | 1 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 11: Weak
SMSI scores 11 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 1, options that actually trade - options too quiet (203 open interest, 3 a day); and filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades right at our fair value; and filter 4, financially healthy - Piotroski 4/9 (under 6); and filter 6, no serious red flags - Red Flags score 35 (under 60); and filter 7, a premium worth selling - implied volatility 460% (over 80%); and filter 8, big enough - market cap $13M (under $1.0B); and filter 9, not a penny stock - price 2.32 (under $5), and the parts are thin too - value weak, premium weak, moat weak, health fair, red flags weak, option trading weak, stability fair. 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 460%, 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 - 203 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 6k shares a day on a market cap of $13M, with a beta of 0.69 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (203 open interest, 3 a day) |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades right at our fair value |
| 4 | Financially healthy | Fails | Piotroski 4/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Fails | Red Flags score 35 (under 60) |
| 7 | A premium worth selling | Fails | implied volatility 460% (over 80%) |
| 8 | Big enough | Fails | market cap $13M (under $1.0B) |
| 9 | Not a penny stock | Fails | price 2.32 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 0% below fair value | |
| Premium | Weak | implied volatility 460% | |
| Moat | Weak | moat 2.4/10 | |
| Health | Fair | Piotroski 4/9 | |
| Red Flags | Weak | Red Flags score 35/100 | |
| Option trading | Weak | 3 contracts a day, 203 open interest | |
| Stability | Fair | beta 0.69, $13M 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
No upcoming earnings date is recorded for SMSI in the nightly calendar.
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.
Similar stocks in Software - Application
The 12 companies below are the closest to Smith Micro Software, Inc. by market cap within the Software - Application industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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| UPLD Upland Software, Inc. | 4.70 | 142.39 | +97% | 26Weak | $14M |
| FUSE Fusemachines Inc. | 0.3508 | 8.04 | +96% | 30No options | $11M |
| IDAI T Stamp Inc. | 2.60 | - | - | 12No options | $15M |
| IFBD Infobird Co., Ltd | 1.82 | - | - | 13No options | $15M |
| MF MindForge Inc | 8.30 | - | - | 12No options | $15M |
| IPM Intelligent Protection Management Corp. | 1.67 | 2.00 | +17% | 22No options | $15M |
| SST System1, Inc. | 1.76 | 0.0541 | -3155% | 10No options | $15M |
| AVAI Avai Bio, Inc. | 0.1000 | - | - | 11No options | $15M |
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Start free See the Sunday ScanQuestions about SMSI
Is SMSI undervalued right now?
The GLS models could not value SMSI (the company lost money over the last twelve months, EPS -3.02, it pays no dividend and its debts exceed what its assets would fetch), so there is no fair value or margin of safety to compare the price of 2.32 against.
What is the Wheel Score of SMSI and what does it mean?
SMSI scores 11 out of 100 (Weak) - it fails Wheel Trade Filters 1, 2, 3, 4, 6, 7, 8, 9. 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 SMSI?
None of the nine GLS models produced a positive value for SMSI (the company lost money over the last twelve months, EPS -3.02, it pays no dividend and its debts exceed what its assets would fetch), so there is no GLS fair value tonight.
When does Smith Micro Software, Inc. report earnings next?
No upcoming earnings date is recorded for SMSI in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does SMSI have listed options, and how liquid are they?
Yes. The nightly snapshot found 4 listed contracts with 203 open interest across all expiries and implied volatility of 460% 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.