Sphere 3D Corp (ANY) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Sphere 3D Corp stock $0.55, price $1.57, that is 64.8% below the price, quality 28 out of 100. Rating: strongly overvalued. Calculated from audited financials with one of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 9, 2026.
How to read this chart
60‑month range $1.09 – $658.00 · fair‑value band $0.3655 – $0.6885 · the $1.57 price screens above the $0.5525 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 9, 2026.
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Sphere 3D Corp. engages in the bitcoin mining business. The company is involved with bitcoin mining pool operators as its customers to provide a service to perform hash calculations for the mining pool operators. The company is based in Stamford, Connecticut.
Stock analysis
Sphere 3D Corp (ANY) currently trades at $1.57, while our model-based Fair Value estimate is $0.5525, 65% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the data coverage at low.
Scenario range: $0.3655 (bear) to $0.6885 (bull), the price of $1.57 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 28/100 (below-average quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Sphere 3D Corp reported revenue of $11.2M in FY2025 versus $3.7M in FY2021, a compound +31.7%/yr. Reported net income was −$21.5M in FY2025.
Key figures
Market cap $30.5M Micro · P/S ratio 3.14 · EPS (TTM) $−9.21 · Return on equity −130% · Return on assets (EBIT) −71.3% (5-year average) · Operating margin −253% · Revenue (TTM) $9.7M · Revenue growth (YoY) −18.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 8 out of 100 (low confidence).
What moves the price
The share trades about 74% below its 52-week high and 44% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −65%, ANY screens richer than that median.
Fair Value models
Bear$0.3655Fair Value $0.5525Bull$0.6885
Price $1.57 · Downside -64.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
NCAV (Graham)$0.4300$0.6500$0.810055
All 1 models by family
Asset-Based
NCAV (Graham)$0.4300$0.6500$0.810055
The fair value above starts from this blend and is adjusted for dilution from new shares.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleKurt L. KalbfleischCEO and CFO2× since Dec 9, 2025: 99,800 shares, avg. $0.5800$57,882Mar 13, 2026
SaleTiah Norton ReppasChief Accounting Officer6,250 shares at $1.61$10,063Mar 12, 2026
Plus 19 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.23/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−32.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.2%
Start year 2020 (pandemic). Over 10 years: −17.5% a year
Revenue growth 15 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+73.0%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−123.0% (2020) → −111.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 346 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score28 · Bottom 25%
Fair Value upside−64.8% · Bottom 25%
Profitability
Return on assets−85.5% · Bottom 25%
Net margin (12 months)−192.1% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−18.8% · Bottom 25%
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/B1.31× · Cheaper than median
P/S (12 months)3.14× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)0· sector 60
PAST (return on equity)0· sector 23
HEALTH (low debt)99· sector 98
DIVIDEND (yield)0· sector 31
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Sphere 3D Corp Fair Value". https://www.fairvalue-calculator.com/stock/ANY
Frequently asked questions
Is Sphere 3D Corp (ANY) overvalued or undervalued?
As of Nov 9, 2026, our model estimates a fair value of $0.5525 versus a price of $1.57, about 65% lower (overvalued).
What is the fair value of ANY?
Our model-based fair value for Sphere 3D Corp is $0.5525 (as of Nov 9, 2026), built from audited fundamentals. The current price: $1.57.
What is the quality score of ANY?
Sphere 3D Corp has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Sphere 3D Corp (ANY)?
Our model-based price target is the fair value of $0.5525 (as of Nov 9, 2026) from 1 valuation models. Cautious scenario $0.3655, optimistic scenario $0.6885. It is a calculation from audited fundamentals, not an analyst target.
What is the Sphere 3D Corp stock forecast for 2026?
Our models put fair value at $0.5525, about 65% lower versus a price of $1.57 (overvalued). Cautious scenario $0.3655, optimistic scenario $0.6885. The calculation is refreshed regularly with new filings.
What is the revenue of Sphere 3D Corp (ANY)?
Sphere 3D Corp reported trailing-twelve-month revenue of about $9.7M (latest available figure, as of Nov 9, 2026).
What is the intrinsic value of Sphere 3D Corp (ANY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Sphere 3D Corp it is $0.5525 per share (as of Nov 9, 2026), against a price of $1.57. It is the blended result of 1 valuation models in 1 family (Asset-Based).
Is Sphere 3D Corp stock overvalued or undervalued in 2026?
As of Nov 9, 2026, ANY trades above its calculated fair value: price $1.57, fair value $0.5525, a gap of about −65% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ANY?
No. The price is what the market pays today ($1.57); the fair value is what the company's own numbers justify ($0.5525). For Sphere 3D Corp the two are $1.02 per share apart. That gap is exactly why we show both numbers side by side.
How much is Sphere 3D Corp worth?
The market values Sphere 3D Corp at about $30.5M (market capitalisation, as of Nov 9, 2026). Per share that is $1.57; our models calculate a fair value of $0.5525 per share.
What do the bullish and bearish scenarios say about ANY?
Our models span a range for Sphere 3D Corp: cautious scenario $0.3655, base $0.5525, optimistic $0.6885 per share (as of Nov 9, 2026, price $1.57). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Sphere 3D Corp (ANY)?
Balance-sheet figures for Sphere 3D Corp (as of Nov 9, 2026): return on equity −130.2%, debt of 0.03 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is ANY from its 52-week high?
Sphere 3D Corp trades at $1.57, about 74% below its 52-week high of $6.13 and 44% above the low of $1.09 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $0.5525 is for.
Which stocks are comparable to Sphere 3D Corp?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Sphere 3D Corp stock attractive at the current price?
The data as of Nov 9, 2026: price $1.57, calculated fair value $0.5525 (−65%), Quality Score 28/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ANY calculated?
We run Sphere 3D Corp through 1 models from 1 family: Asset-Based. Every model gets the same audited fundamentals; the fair value of $0.5525 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Sphere 3D Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Sphere 3D Corp (ANY)?
The closing price on Nov 6, 2026 was $1.57. Our model-based fair value is $0.5525, about 65% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Sphere 3D Corp right now?
The price sits above even our optimistic bull case ($0.6885). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.3655 to $0.6885) leaves room in how you read the outcome.
Key figures of Sphere 3D Corp
How large is the market capitalisation of Sphere 3D Corp (ANY)?
The market capitalisation of Sphere 3D Corp is $30.5M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Sphere 3D Corp (ANY)?
The price-to-sales ratio of Sphere 3D Corp is 3.14 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Sphere 3D Corp (ANY)?
Earnings per share at Sphere 3D Corp are $−9.21. Earnings per share over the last twelve months: total profit spread across every single share.
What is the return on equity of Sphere 3D Corp (ANY)?
The return on equity (ROE) of Sphere 3D Corp is −130% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Sphere 3D Corp (ANY)?
On an EBIT basis the return on assets of Sphere 3D Corp is −71.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Sphere 3D Corp (ANY)?
The operating margin of Sphere 3D Corp is −253% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Sphere 3D Corp (ANY)?
Revenue at Sphere 3D Corp is growing −18.8% versus a year earlier (3y avg +22.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Sphere 3D Corp (ANY)?
Earnings per share at Sphere 3D Corp are growing −40.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Sphere 3D Corp (ANY) generate?
The free cash flow of Sphere 3D Corp is −$23.6M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Sphere 3D Corp (ANY) hold?
Sphere 3D Corp holds more cash than debt, $3.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 9, 2026
