Stock fact sheet · data as of
Scully Royalty Ltd. (SRL): fair value, margin of safety and Wheel Score
Financial Services · Financial - Capital Markets · China · Speculative / Distressed
Is SRL undervalued?
SRL closed at 4.75 on 16 Oct 2026 against a GLS average fair value of 4.78 - 0.7% below fair value, which our screens read as "fairly priced". 1 of 1 models are above the current price. There is no discount to lean on here, so the margin of safety is not the reason to look at the stock.
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 SRL 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 SRL
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 | 4.78 | +1% | 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) | 3.12 | -34% | 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
Scully Royalty Ltd. scores only 1 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 1.6/10 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 -6.4%, ROE -7.1%, ROA -4.9% - with debt at 0.12 times equity and negative free cash flow.
Scully Royalty Ltd. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 1 / 9 | ROIC | -6.4% |
|---|---|---|---|
| GLS Moat | 1.6 / 10 | ROE | -7.1% |
| Debt / equity | 0.12 | ROA | -4.9% |
| Free-cash-flow yield | -30.8% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 42: Weak
With a Wheel Score of 42 Scully Royalty Ltd. sits in the Weak band. The parts - Value 13/25, Health 2/20, Moat 2/15, Premium 18/20, Stability 6/20 - show where: Health (2/20) scores lowest.
Implied volatility is 67% on the near-the-money contracts 20-60 days out - above the 60% ceiling of the sweet spot. Premiums are large, but the Wheel Score tapers the Premium points (18 of 20) because volatility this high usually comes with a reason. Chain open interest is thin - 62 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 3k shares a day on a market cap of $72M, with a beta of 0.63 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 6 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 13 / 25 | 1% margin of safety | |
| Health | 2 / 20 | Piotroski 1/9 | |
| Moat | 2 / 15 | moat 1.6/10 | |
| Premium | 18 / 20 | implied volatility 67% | |
| Stability | 6 / 20 | 3k shares/day, $72M cap, beta 0.63 |
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
No upcoming earnings date is recorded for SRL in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
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| WTF Waton Financial Limited Ordinary Shares | 2.63 | - | - | 23No options | $127M |
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Start free See the Sunday ScanQuestions about SRL
Is SRL undervalued right now?
Not meaningfully: at 4.75 the stock trades within a few percent of the GLS average fair value of 4.78 (0.7% below fair value, data as of 16 Oct 2026).
What is the Wheel Score of SRL and what does it mean?
SRL scores 42 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 SRL?
4.78 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 Scully Royalty Ltd. report earnings next?
No upcoming earnings date is recorded for SRL in our calendar as of 16 Oct 2026; the Calendars page is refreshed every morning.
Does SRL have listed options, and how liquid are they?
Yes. The nightly snapshot found 46 listed contracts with 62 open interest across all expiries and implied volatility of 67% 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.