Valuations

Single-name intrinsic-value tearsheets. 30 valuations · latest as of Oct 21, 2026.

Prices shown as of each valuation date.

Percent = upside (+) or downside (−) from price to base value. Each card links to the full tearsheet with method, scenarios and risks.

Trading below base value 6

MUX McEwen Inc.

UNDERVALUED

Gold & silver producer + McEwen Copper stake · High risk

Base $26.59 vs $15.87

+68%

valued Oct 15, 2026 · reports Nov 5

ICAGY International Consolidated Airlines (IAG)

UNDERVALUED

Airlines — BA, Iberia, Aer Lingus · ADR · High risk

Base $17.64 vs $11.05

+60%

valued Oct 15, 2026 · reports Nov 6

RNR RenaissanceRe Holdings

SLIGHTLY CHEAP

Property-cat & specialty reinsurance · Med–High risk

Base $387.21 vs $341.59

Major bank — Brazil · Med–High risk

Base $8.77 vs $8.16

+7%

valued Sep 4, 2026

ASB Associated Banc-Corp

SLIGHTLY CHEAP

Midwest regional bank · Medium risk

Base $31.01 vs $28.86

+7%

valued Oct 15, 2026pre-earnings · Q3 reported Oct 22

FAF First American Financial

SLIGHTLY CHEAP

Title insurance & settlement · Medium risk

Base $68.29 vs $63.68

+7%

valued Oct 15, 2026pre-earnings · Q3 reported Oct 21

Near base value 3

IA Innovative Solutions & Support

FAIR

Avionics & flight-guidance systems · High risk

Base $20.02 vs $19.01

AI accelerated computing · High risk

Base $193.70 vs $217.15

-11%

valued Oct 20, 2026 · reports Nov 17

TXT Textron Inc.

SLIGHTLY RICH

Business jets, Bell helicopters, defense · Medium risk

Base $66.78 vs $74.91

-11%

valued Oct 15, 2026 · reports Oct 29

Overvalued 21

EVTC Evertec Inc.

OVERVALUED

Payments processing — Puerto Rico & LatAm · High risk

Base $26.67 vs $31.16

Vaca Muerta shale oil — Argentina · Very High risk

Base $59.69 vs $70.40

-15%

valued Oct 15, 2026 · reports Oct 28

SCSC ScanSource Inc.

OVERVALUED

Specialty technology distributor · Medium risk

Base $48.23 vs $59.38

-19%

valued Oct 15, 2026 · reports Nov 5

ECG Everus Construction Group

OVERVALUED

Electrical & T&D specialty contractor · Med–High risk

Base $88.10 vs $108.94

Nitrogen fertilizer · Med–High risk

Base $95.41 vs $120.72

-21%

valued Oct 14, 2026 · reports Nov 4

ABX Abacus Global Management

OVERVALUED

Life settlements & longevity assets · Very High risk

Base $6.27 vs $8.64

-27%

valued Oct 21, 2026 · reports Nov 5

GS Goldman Sachs Group

OVERVALUED

Global investment bank · Med–High risk

Base $622.00 vs $870.31

Modular carpet tile & flooring · Medium risk

Base $23.74 vs $34.87

Optical transceivers & lasers · High risk

Base $164.07 vs $243.10

-33%

valued Oct 15, 2026 · reports Nov 4

KMT Kennametal Inc.

OVERVALUED

Tungsten-carbide tooling & wear parts · High risk

Base $20.96 vs $31.10

-33%

valued Oct 14, 2026

ACLS Axcelis Technologies

OVERVALUED

Ion implantation — semicap equipment · High risk

Base $71.14 vs $114.08

-38%

valued Oct 15, 2026 · reports Nov 3

Resource Map engine estimate (Oct 22, Rf 5.0%): $91 — same verdict

AVT Avnet Inc.

OVERVALUED

Electronic-components distributor · High risk

Base $56.05 vs $95.39

Life-sciences cloud software · Medium risk

Base $162.00 vs $285.87

Aluminum, alumina & bauxite · Very High risk

Base $27.00 vs $50.01

-46%

valued Sep 4, 2026pre-earnings · Q3 reported Oct 15

AMBP Ardagh Metal Packaging

OVERVALUED

Aluminium beverage cans · High risk

Base $2.35 vs $4.63

-49%

valued Oct 15, 2026pre-earnings · Q3 due ~Oct 22

HWM Howmet Aerospace

OVERVALUED

Jet-engine castings, fasteners & structures · Med–High risk

Base $83.59 vs $217.50

-62%

valued Oct 15, 2026 · reports Oct 29

Resource Map engine estimate (Oct 22, Rf 5.0%): $51 — same verdict

LASR nLIGHT Inc.

OVERVALUED

Semiconductor & fiber lasers, directed energy · Very High risk

Base $13.65 vs $35.73

-62%

valued Oct 14, 2026 · reports Nov 5

KLAC KLA Corp.

OVERVALUED

Process control — semicap equipment · High risk

Base $59.07 vs $172.90

-66%

valued Oct 15, 2026 · reports Oct 28

Resource Map engine estimate (Oct 22, Rf 5.0%): $39 — same verdict

ARREF Amerigo Resources

OVERVALUED

Copper & moly tailings toll-processor, Chile · Very High risk

Base $1.83 vs $6.28

-71%

valued Sep 9, 2026

VOYG Voyager Technologies

OVERVALUED

Defense & space technology · Very High risk

Base $4.15 vs $25.93

-84%

valued Oct 15, 2026 · reports Nov 2

APPS Digital Turbine Inc.

OVERVALUED

Mobile adtech & app growth · High risk

Base −$0.64 vs $10.54

DCF equity ≈ $0

valued Sep 4, 2026