FullNet Communications Inc (FULO) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of FullNet Communications Inc $0.65, price $0.33, upside +97.0%, quality 79 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $0.0031 – $0.9649 · fair‑value band $0.5200 – $1.10 · the $0.3300 price screens below the $0.6500 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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FullNet Communications, Inc., together with its subsidiaries, provides integrated communications services to individuals, businesses, organizations, educational institutions, and governmental agencies in the United States.
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FullNet Communications, Inc., together with its subsidiaries, provides integrated communications services to individuals, businesses, organizations, educational institutions, and governmental agencies in the United States. It provides mass notification services using text messages and automated telephone calls; carrier-neutral equipment colocation services; Internet access services; web hosting and related services; customized live help desk outsourcing services; and voice and data solutions. The company was formerly known as CEN-COM of Oklahoma, Inc. and changed its name to FullNet Communications, Inc. in December 1995. FullNet Communications, Inc. was incorporated in 1995 and is based in Oklahoma City, Oklahoma.
Stock analysis
FullNet Communications Inc (FULO) currently trades at $0.3300, while our model-based Fair Value estimate is $0.6500, implying the stock looks roughly 49.2% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $0.8400 per share, and 21 of the 26 models we run sit above the $0.3300 price.
Bear case: the Economic Profit group reads lowest at $0.2500, and 5 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.5200 (bear) to $1.10 (bull), the price of $0.3300 sits below 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 79/100 (high quality), in the Communication Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
FullNet Communications Inc reported revenue of $5.1M in FY2025 versus $4.1M in FY2021, a compound +5.4%/yr. Reported net income was $740K in FY2025, compounding −4.6%/yr from FY2021.
Key figures
Market cap $7.9M · P/E ratio 8.3 · P/S ratio 1.19 · EPS (TTM) $0.0400 · Dividend yield 3.9% · Net margin 14.5% · Return on equity 35.2% · Return on assets (EBIT) 23.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 47% fair-value upside, at 97%, FULO screens cheaper than that median.
Fair Value models
Bear $0.5200Fair Value $0.6500Bull $1.10
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.0051 per share) are deliberately not added.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.Evidence ⓘEvidence = 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.
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.86/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+11.4%
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.
+6.2%
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.
+7.8%
Start year 2020 (pandemic). Over 10 years: +10.5% a year
Revenue growth 25 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.
+4.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+7.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+4.0%
Dividend (yield on the price)3.9%
Profit margin 2020 to 2025 ⓘ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.21% → 16%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−24.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −26.3% a year for the price.
Compare FullNet Communications Inc with another stock
Price, fair value, quality and upside side by side.
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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.Telecom Services · 250 stocks
Beats the industry median on 8/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score79 · Top 25%
Fair Value upside+97% · Top 25%
Profitability
Return on equity (TTM)35% · Top 25%
Return on assets10% · Top 25%
Net margin (TTM)13% · Top 25%
Operating margin (TTM)4% · Below median
Growth and dividend
Revenue growth1% · Below median
Dividend yield (TTM)3.9% · Above median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Telecom Services median · lower = cheaper
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Is FullNet Communications Inc (FULO) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $0.6500 versus a price of $0.3300, about +97% upside (undervalued).
What is the fair value of FULO?
Our model-based fair value for FullNet Communications Inc is $0.6500 (as of Sep 23, 2026), built from audited fundamentals. The current price: $0.3300.
What is the quality score of FULO?
FullNet Communications Inc has a Quality Score of 79/100. 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 FullNet Communications Inc (FULO)?
Our model-based price target is the fair value of $0.6500 (as of Sep 23, 2026) from 26 valuation models. Cautious scenario $0.5200, optimistic scenario $1.10. It is a calculation from audited fundamentals, not an analyst target.
What is the FullNet Communications Inc stock forecast for 2026?
Our models put fair value at $0.6500, about +97% upside versus a price of $0.3300 (undervalued). Cautious scenario $0.5200, optimistic scenario $1.10. The calculation is refreshed regularly with new filings.
What is the revenue of FullNet Communications Inc (FULO)?
FullNet Communications Inc reported trailing-twelve-month revenue of about $4.2M (latest available figure, as of Sep 23, 2026).
Does FullNet Communications Inc pay a dividend?
FullNet Communications Inc currently shows a dividend yield of about 3.94% relative to its recent price (as of Sep 23, 2026).
What growth is priced into FullNet Communications Inc (FULO)?
For today's price to be fair in a discounted-cash-flow model, FullNet Communications Inc would have to grow free cash flow by -24.5 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +7.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of FULO use?
Our models discount FullNet Communications Inc at 8.5 %: a base by market capitalisation (nano), damped by beta 0.47, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For FullNet Communications Inc that is -24.5 % per year a year over ten years, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has FullNet Communications Inc (FULO) delivered so far?
Over the past 5 years revenue at FullNet Communications Inc grew +7.8 % a year. The price currently implies -24.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of FullNet Communications Inc (FULO) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into FullNet Communications Inc (-24.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of FullNet Communications Inc (FULO)?
The free-cash-flow yield on the price is 14.91 %: that much free cash flow FullNet Communications Inc produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of FullNet Communications Inc (FULO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For FullNet Communications Inc it is $0.6500 per share (as of Sep 23, 2026), against a price of $0.3300. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is FullNet Communications Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, FULO trades below its calculated fair value: price $0.3300, fair value $0.6500, a gap of about +97% (undervalued). 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 FULO?
No. The price is what the market pays today ($0.3300); the fair value is what the company's own numbers justify ($0.6500). For FullNet Communications Inc the two are $0.3200 per share apart. That gap is exactly why we show both numbers side by side.
How much is FullNet Communications Inc worth?
The market values FullNet Communications Inc at about $7.9M (market capitalisation, as of Sep 23, 2026). Per share that is $0.3300; our models calculate a fair value of $0.6500 per share.
What do the bullish and bearish scenarios say about FULO?
Our models span a range for FullNet Communications Inc: cautious scenario $0.5200, base $0.6500, optimistic $1.10 per share (as of Sep 23, 2026, price $0.3300). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FULO?
FullNet Communications Inc trades at a price-to-earnings ratio of 8.3 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.6500 is built from several models across several years. Other multiples: P/B 5.2, P/S 1.9, EV/EBITDA 8.9.
How solid is the balance sheet of FullNet Communications Inc (FULO)?
Balance-sheet figures for FullNet Communications Inc (as of Sep 23, 2026): return on equity 35.2%, debt of 0.01 per unit of equity. They feed the Quality Score of 79/100, which measures business quality independently of the share price.
How far is FULO from its 52-week high?
FullNet Communications Inc trades at $0.3300, about 38% below its 52-week high of $0.5364 and 3% above the low of $0.3200 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $0.6500 is for.
Which stocks are comparable to FullNet Communications Inc?
From the same area (Communication Services) we also value China Mobile Limited, T-Mobile US, Inc, Verizon Communications Inc, AT&T 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 FullNet Communications Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $0.3300, calculated fair value $0.6500 (+97%), Quality Score 79/100, from 26 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 FULO calculated?
We run FullNet Communications Inc through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.6500, 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 13.0 % above its aggregate fair value. FullNet Communications Inc currently trades 97 % below its own fair value, and the market average says nothing about that. 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 FullNet Communications Inc (FULO)?
The closing price on Sep 23, 2026 was $0.3300. Our model-based fair value is $0.6500, about +97% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with FullNet Communications Inc right now?
The rarer combination: high quality (79/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($0.5200). The market is more pessimistic than our downside scenario. 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 ($0.5200 to $1.10) leaves room in how you read the outcome.
Key figures of FullNet Communications Inc
How large is the market capitalisation of FullNet Communications Inc (FULO)?
The market capitalisation of FullNet Communications Inc is $7.9M. 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 FullNet Communications Inc (FULO)?
The price-to-sales ratio of FullNet Communications Inc is 1.19 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of FullNet Communications Inc (FULO)?
Earnings per share at FullNet Communications Inc are $0.0400 (price ÷ EPS = P/E 8.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of FullNet Communications Inc (FULO)?
The dividend yield of FullNet Communications Inc is 3.9% (payout 32.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of FullNet Communications Inc (FULO)?
The net margin of FullNet Communications Inc is 14.5% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of FullNet Communications Inc (FULO)?
The return on equity (ROE) of FullNet Communications Inc is 35.2% (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 FullNet Communications Inc (FULO)?
On an EBIT basis the return on assets of FullNet Communications Inc is 23.4% (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 FullNet Communications Inc (FULO)?
The operating margin of FullNet Communications Inc is 4.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at FullNet Communications Inc (FULO)?
Revenue at FullNet Communications Inc is growing +1.2% versus a year earlier (3y avg +6.2%). 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 FullNet Communications Inc (FULO)?
Earnings per share at FullNet Communications Inc are growing +941% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does FullNet Communications Inc (FULO) hold?
FullNet Communications Inc holds more cash than debt, $2.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 23, 2026