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Verdict

Undervalued

Every analyzed stock in Undervalued — 250 companies. Each card shows price, our model's intrinsic value (IV), and how far price sits above or below it. Click any card for the full analysis. This is a research-triage view, not a buy/sell signal.

Educational use only — not investment advice. "Undervalued / fairly valued / overvalued" and every risk score reflect our models vs. price, which can be wrong or based on stale or incomplete data. Always review the company's own financials and SEC filings, and consult a licensed advisor, before acting.
"Undervalued" by: Model value (price vs DCF) Owner-earnings return (equity bond)

This lens: price against our probability-weighted DCF value (P/IV). Its own forward record began accruing on 2026-09-10 (daily snapshots); until a year of it exists, the panel below tests the nearest cousin we can measure point-in-time — cheap on book value — and says so.

Market state today: Calm — the S&P 500 closed 3.1% below its 1-year high (as of 2026-09-16). Our rule, the same one used to split every backtest on this site: sell-off = 10% or more below the 1-year high, borderline from 5%, calm otherwise. A further 7.2% fall from here would put us in a sell-off. Since 2006 the market has been in a sell-off 16.6% of the time, across 13 episodes (red bands).
2007200920112013201520172019202120232025
S&P 500 (SPY, adjusted) distance from its trailing 1-year high, weekly. Amber band: borderline (−5% to −10%). Red band: sell-off (below −10%). The dot is today. History to 2026-08-19 from the research database; today from the live feed.
Backtest · point in time · 8,702 entries in the study

Does this screen work? The record for exactly these filters

Screen tested: Proxy: price-to-book ≤ 1.2 (undervalued band has no point-in-time history yet) · bought the day of the annual report, held 12 months
Probable Buy every company that met this screen on the day it filed its annual report, hold 12 months: on average it beat the S&P 500 by +17.1 pts (1,055 entries, 252 companies, very unlikely to be luck). 50% of entries beat the S&P; 29% beat it by 30 points or more; 31% trailed it by 20 points or more. Owning everything instead averaged +1.7 pts, so the screen's edge is +15.4 pts.
+17.1 ptsvs S&P, average
50%beat the S&P
29%up 30+ pts vs S&P
31%down 20+ pts vs S&P
+18.2 ptsvs small caps, 12 mo
−13.8 pts 2019worst year to buy ?
6.3luck check ?
Does the holding period matter?3 mo: +2.8 pts 47% beat6 mo: +6.7 pts 49% beat12 mo: +17.1 pts 50% beat24 mo: +31.3 pts 47% beat3 yr, per yr: +3.4 pts 41% beat
Market state at entryCompany-yearsvs S&P 12 movs small caps
Calm ◀ today913+11.0 pts t 5.0+13.2 pts
Sell-off (S&P ≥10% off high)142+56.1 pts t 4.1+50.5 pts
Sector (SEC group)nvs S&P 12 mo3 yrs / yr
Industrials & manufacturing396+15.4 pts t 4.1−1.4 pts
Tech hardware & semis87+11.0 pts t 1.3+4.3 pts
Other86+11.6 pts t 1.9+6.9 pts
Services75+12.7 pts t 2.3+13.0 pts
Retail & consumer70+18.8 pts t 2.0+12.3 pts
Energy53+22.1 pts t 1.7−0.8 pts
Construction49+14.4 pts t 1.7−2.5 pts
Finance & real estate43−5.6 pts t -1.0−7.6 pts
Biotech & pharma39+60.4 pts t 1.8+12.2 pts
Software & IT services35+39.9 pts t 1.8+1.2 pts
Medical devices25+17.3 pts t 1.0+21.1 pts

Holds up out of sample? Before 2018: +13.5 pts (n 466, t 6.0). From 2018: +19.9 pts (n 589, t 4.4). Same sign in both halves.

Year2010201120122013201420152016201720182019202020212022202320242025
vs S&P+17 pts+8 pts+15 pts+22 pts+0 pts−1 pts+25 pts+15 pts−0 pts−14 pts+106 pts+6 pts+16 pts−7 pts−6 pts+19 pts
n62480826067876053741045055808984

Read the research behind this screen: Cheap small caps on book value: the widest spread in our data → · Test your own combination in the Screen Lab →

Our model values are recomputed daily but were never stored historically, so this band cannot be backtested honestly yet. Daily snapshots began 2026-09-10; a true record accrues from there. Until then the nearest tested cousin is shown — cheap on book value — and labelled as a proxy. Point-in-time: each entry is one company bought at the first close after its 10-K filing date, using only filings available that day, held 12 months; result = total return minus SPY over the same months (vs IWM for 12 months; 3-yr annualised). Survivorship-tilted universe; no costs; read spreads, not levels. Educational, hypothetical, before costs.

Sort by: A–Z Riskiest Most overvalued Most shorted Buyers' strike Largest
LAW
CS Disco, Inc.
Undervalued
Technology Risk 34 · Moderate
Price$4.07
Model IV$5.27
P/IV0.76
Discount 23% Return to IV: +29.5%
Market implies -10.4%/yr vs model +8.2% · below model
LEG
LEGGETT & PLATT INC
Undervalued
Consumer Cyclical Risk 47 · Elevated
Price$9.20
Model IV$12.39
P/IV0.83
Discount 26% Return to IV: +34.6%
Market implies -8.6%/yr vs model -1.4% · below model
LFMD
LifeMD, Inc.
Deeply undervalued
Healthcare Risk 36 · Moderate
Price$3.05
Model IV$5.34
P/IV0.80
Discount 43% Return to IV: +75.0%
Market implies -6.8%/yr vs model +20.2% · below model
LFS
LEIFRAS Co., Ltd.
Undervalued
Consumer Defensive Risk 38 · Moderate
Price$2.19
Model IV$3.24
P/IV0.82
Discount 32% Return to IV: +47.9%
Market implies +0.4%/yr vs model +9.0% · below model
LNN
LINDSAY CORP
Fairly valued
Industrials Risk 37 · Moderate
Price$118.81
Model IV$138.77
P/IV0.79
Discount 14% Return to IV: +16.8%
Market implies +0.9%/yr vs model +4.5% · below model
LOAN
MANHATTAN BRIDGE CAPITAL, INC
Undervalued
Financial Services Risk 22 · Moderate
Price$4.05
Model IV$5.31
P/IV0.79
Discount 24% Return to IV: +31.1%
MBWM
MERCANTILE BANK CORP
Fairly valued
Financial Services Risk 44 · Elevated
Price$61.33
Model IV$64.90
P/IV0.82
Discount 5% Return to IV: +5.8%
MNSBP
MainStreet Bancshares, Inc.
Undervalued
Financial Services Risk 37 · Moderate
Price$25.09
Model IV$33.29
P/IV0.75
Discount 25% Return to IV: +32.7%
MOBXW
MOBIX LABS, INC
Undervalued
Technology Risk 44 · Elevated
Price$0.10
Model IV$0.14
P/IV0.79
Discount 29% Return to IV: +41.1%
Market implies -6.3%/yr vs model +15.0% · below model
NAII
NATURAL ALTERNATIVES INTERNATIONAL INC
Undervalued
Healthcare Risk 36 · Moderate
Price$1.96
Model IV$2.99
P/IV0.85
Discount 35% Return to IV: +52.7%
Market implies -6.2%/yr vs model +3.7% · below model
NECB
NorthEast Community Bancorp, Inc./MD/
Undervalued
Financial Services Risk 40 · Elevated
Price$26.80
Model IV$33.97
P/IV0.71
Discount 21% Return to IV: +26.8%
NEWT
NewtekOne, Inc.
Undervalued
Financial Services Risk 35 · Moderate
Price$12.17
Model IV$19.54
P/IV0.71
Discount 38% Return to IV: +60.6%
NNBR
NN INC
Fairly valued
Industrials Risk 46 · Elevated
Price$3.47
Model IV$3.70
P/IV0.80
Discount 6% Return to IV: +6.6%
Market implies -0.7%/yr vs model +2.0% · in line
NVRI
ENVIRI Corp
Undervalued
Industrials Risk 45 · Elevated
Price$22.31
Model IV$26.76
P/IV0.78
Discount 17% Return to IV: +19.9%
Market implies -5.9%/yr vs model +4.9% · below model
OI
O-I Glass, Inc. /DE/
Deeply undervalued
Industrials Risk 30 · Moderate
Price$6.34
Model IV$12.33
P/IV0.71
Discount 49% Return to IV: +94.5%
Market implies -6.9%/yr vs model +4.1% · below model
ONEG
OneConstruction Group Ltd
Undervalued
Industrials Risk 43 · Elevated
Price$1.03
Model IV$1.13
P/IV0.82
Discount 9% Return to IV: +10.0%
Market implies -4.3%/yr vs model +2.0% · below model
ONT
Onterris, Inc.
Fairly valued
Industrials Risk 45 · Elevated
Price$17.80
Model IV$19.06
P/IV0.84
Discount 7% Return to IV: +7.1%
Market implies +5.7%/yr vs model +9.5% · below model
OPBK
OP Bancorp
Fairly valued
Financial Services Risk 51 · Elevated
Price$15.40
Model IV$17.14
P/IV0.82
Discount 10% Return to IV: +11.3%
OPRX
OptimizeRx Corp
Undervalued
Technology Risk 29 · Moderate
Price$7.29
Model IV$6.95
P/IV0.75
Premium +5% Return to IV: -4.6%
Market implies +8.0%/yr vs model +12.0% · below model
ORGO
Organogenesis Holdings Inc.
Deeply undervalued
Healthcare Risk 34 · Moderate
Price$1.46
Model IV$3.46
P/IV0.74
Discount 58% Return to IV: +137.0%
Market implies -12.9%/yr vs model +4.8% · below model
PAR
PAR TECHNOLOGY CORP
Fairly valued
Technology Risk 41 · Elevated
Price$18.00
Model IV$18.95
P/IV0.81
Discount 5% Return to IV: +5.3%
Market implies -1.4%/yr vs model +12.7% · below model
PBYI
PUMA BIOTECHNOLOGY, INC.
Undervalued
Healthcare Risk 38 · Moderate
Price$9.12
Model IV$9.98
P/IV0.72
Discount 9% Return to IV: +9.4%
Market implies +0.4%/yr vs model +3.0% · in line
PHAR
Pharming Group N.V.
Undervalued
Healthcare Risk 37 · Moderate
Price$10.55
Model IV$13.22
P/IV0.85
Discount 20% Return to IV: +25.3%
Market implies +7.7%/yr vs model +15.1% · below model
PODC
PodcastOne, Inc.
Undervalued
Technology Risk 35 · Moderate
Price$2.45
Model IV$6.10
P/IV0.81
Discount 60% Return to IV: +149.1%
Market implies -17.1%/yr vs model +22.7% · below model
PSTL
Postal Realty Trust, Inc.
Undervalued
Financial Services Risk 27 · Moderate
Price$23.56
Model IV$31.01
P/IV0.74
Discount 24% Return to IV: +31.6%
PUMP
ProPetro Holding Corp.
Deeply undervalued
Energy Risk 41 · Elevated
Price$10.50
Model IV$18.29
P/IV0.83
Discount 43% Return to IV: +74.2%
Market implies -2.1%/yr vs model +8.0% · below model
QUAD
Quad/Graphics, Inc.
Fairly valued
Communication Services Risk 44 · Elevated
Price$10.10
Model IV$9.20
P/IV0.81
Premium +10% Return to IV: -8.9%
Market implies +0.5%/yr vs model +0.5% · in line
RCMT
RCM TECHNOLOGIES, INC.
Undervalued
Technology Risk 30 · Moderate
Price$40.11
Model IV$27.41
P/IV0.79
Premium +46% Return to IV: -31.7%
Market implies +11.4%/yr vs model +10.3% · in line
REKR
Rekor Systems, Inc.
Undervalued
Technology Risk 30 · Moderate
Price$0.46
Model IV$1.06
P/IV0.79
Discount 57% Return to IV: +131.0%
Market implies -10.2%/yr vs model +43.0% · below model
RMNI
Rimini Street, Inc.
Undervalued
Technology Risk 34 · Moderate
Price$4.54
Model IV$5.19
P/IV0.75
Discount 13% Return to IV: +14.3%
Market implies +1.8%/yr vs model +5.7% · below model
RWAYI
Runway Growth Finance Corp.
Undervalued
Unknown Risk 38 · Moderate
Price$24.88
Model IV$32.40
P/IV0.76
Discount 23% Return to IV: +30.3%
Market implies -10.7%/yr vs model -4.3% · below model
RWAYL
Runway Growth Finance Corp.
Undervalued
Unknown Risk 38 · Moderate
Price$25.12
Model IV$32.40
P/IV0.78
Discount 22% Return to IV: +29.0%
Market implies -10.6%/yr vs model -4.3% · below model
SDSTW
Stardust Power Inc.
Undervalued
Basic Materials Risk 37 · Moderate
Price$0.09
Model IV$0.15
P/IV0.80
Discount 40% Return to IV: +66.7%
Market implies -3.1%/yr vs model +5.0% · below model
SELF
Global Self Storage, Inc.
Undervalued
Financial Services Risk 23 · Moderate
Price$5.11
Model IV$6.59
P/IV0.78
Discount 22% Return to IV: +28.9%
SEPN
Septerna, Inc.
Undervalued
Healthcare Risk 36 · Moderate
Price$38.51
Model IV$41.19
P/IV0.73
Discount 7% Return to IV: +7.0%
Market implies +6.1%/yr vs model +10.0% · below model
SJ
Scienjoy Holding Corp
Deeply undervalued
Technology Risk 32 · Moderate
Price$0.69
Model IV$1.66
P/IV0.71
Discount 58% Return to IV: +140.2%
Market implies -21.9%/yr vs model -2.9% · below model
SLND
Southland Holdings, Inc.
Valuation N/A
Industrials Risk 35 · Moderate
Price$0.58
Model IV—
P/IV—
Market implies -25.8%/yr vs model -6.5% · below model
SNFCA
SECURITY NATIONAL FINANCIAL CORP
Undervalued
Financial Services Risk 33 · Moderate
Price$8.79
Model IV$12.67
P/IV0.77
Discount 31% Return to IV: +44.2%
Market implies -12.1%/yr vs model -2.9% · below model
SPB
Spectrum Brands Holdings, Inc.
Undervalued
Technology Risk 33 · Moderate
Price$85.66
Model IV$101.31
P/IV0.78
Discount 15% Return to IV: +18.3%
Market implies +2.6%/yr vs model +7.0% · below model
SPWR
SunPower Inc.
Deeply undervalued
Industrials Risk 45 · Elevated
Price$0.33
Model IV$1.49
P/IV0.71
Discount 78% Return to IV: +354.5%
Market implies -26.6%/yr vs model +15.0% · below model
SSSSL
SURO CAPITAL CORP.
Undervalued
Unknown Risk 38 · Moderate
Price$25.29
Model IV$29.91
P/IV0.84
Discount 15% Return to IV: +18.3%
Market implies +2.0%/yr vs model +6.0% · below model
THRY
Thryv Holdings, Inc.
Undervalued
Technology Risk 40 · Elevated
Price$1.79
Model IV$5.17
P/IV0.75
Discount 65% Return to IV: +188.7%
Market implies -27.3%/yr vs model -2.3% · below model
TLIH
Ten-League International Holdings Ltd
Undervalued
Industrials Risk 26 · Moderate
Price$5.75
Model IV$5.07
P/IV0.74
Premium +14% Return to IV: -11.9%
Market implies +18.8%/yr vs model +25.0% · below model
TPCS
TECHPRECISION CORP
Undervalued
Industrials Risk 34 · Moderate
Price$5.77
Model IV$5.53
P/IV0.72
Premium +4% Return to IV: -4.2%
Market implies -7.9%/yr vs model +21.5% · below model
TSSI
TSS, Inc.
Deeply undervalued
Industrials Risk 37 · Moderate
Price$8.16
Model IV$23.51
P/IV0.70
Discount 65% Return to IV: +188.1%
Market implies -12.8%/yr vs model +50.0% · below model
ULH
UNIVERSAL LOGISTICS HOLDINGS, INC.
Undervalued
Industrials Risk 47 · Elevated
Price$18.51
Model IV$20.59
P/IV0.77
Discount 10% Return to IV: +11.2%
Market implies +3.1%/yr vs model +2.0% · in line
UMH
UMH PROPERTIES, INC.
Undervalued
Financial Services Risk 38 · Moderate
Price$15.51
Model IV$20.15
P/IV0.75
Discount 23% Return to IV: +29.9%
USPH
U S PHYSICAL THERAPY INC /NV
Undervalued
Healthcare Risk 36 · Moderate
Price$78.72
Model IV$81.30
P/IV0.79
Discount 3% Return to IV: +3.3%
Market implies +7.6%/yr vs model +11.5% · below model
UTMD
UTAH MEDICAL PRODUCTS INC
Undervalued
Healthcare Risk 42 · Elevated
Price$69.71
Model IV$86.32
P/IV0.77
Discount 19% Return to IV: +23.8%
Market implies -0.4%/yr vs model +5.0% · below model
WALD
Waldencast plc
Undervalued
Consumer Defensive Risk 36 · Moderate
Price$1.31
Model IV$2.25
P/IV0.83
Discount 42% Return to IV: +71.9%
Market implies -9.4%/yr vs model +30.3% · below model
WEAV
Weave Communications, Inc.
Undervalued
Technology Risk 29 · Moderate
Price$7.31
Model IV$8.12
P/IV0.74
Discount 10% Return to IV: +11.1%
Market implies -2.1%/yr vs model +19.8% · below model
WEYS
WEYCO GROUP INC
Fairly valued
Consumer Defensive Risk 49 · Elevated
Price$44.59
Model IV$43.84
P/IV0.81
Premium +2% Return to IV: -1.7%
Market implies +1.9%/yr vs model +3.0% · in line
WLDS
Wearable Devices Ltd.
Undervalued
Technology Risk 29 · Moderate
Price$1.66
Model IV$1.31
P/IV0.72
Premium +27% Return to IV: -21.4%
Market implies +6.8%/yr vs model +46.1% · below model
WNC
WABASH NATIONAL Corp
Undervalued
Consumer Cyclical Risk 44 · Elevated
Price$12.55
Model IV$10.10
P/IV0.79
Premium +24% Return to IV: -19.5%
Market implies +0.9%/yr vs model +0.0% · in line
XAIR
Beyond Air, Inc.
Deeply overvalued
Healthcare Risk 33 · Moderate
Price$3.14
Model IV$0.58
P/IV0.80
Premium +444% Return to IV: -81.6%
Market implies +9.0%/yr vs model +43.5% · below model
YDDL
One & one Green Technologies. INC
Undervalued
Industrials Risk 46 · Elevated
Price$1.63
Model IV$4.02
P/IV0.83
Discount 59% Return to IV: +146.7%
Market implies -22.1%/yr vs model +26.3% · below model
ZCMD
Zhongchao Inc.
Undervalued
Consumer Defensive Risk 29 · Moderate
Price$0.80
Model IV$0.22
P/IV0.77
Premium +270% Return to IV: -73.0%
Market implies +9.8%/yr vs model +2.0% · above model
ZNB
Zeta Network Group
Valuation N/A
Consumer Defensive Risk 29 · Moderate
Price$1.41
Model IV—
P/IV—
Market implies -12.9%/yr vs model +6.5% · below model