Spok Holdings Inc (SPOK) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Spok Holdings Inc $16.39, price $10.35, upside +58.4%, quality 69 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 24, 2026.
How to read this chart
60‑month range $4.24 – $17.02 · fair‑value band $12.51 – $20.26 · the $10.35 price screens below the $16.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Spok Holdings, Inc., through its subsidiary, Spok, Inc., engages in the healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. Its products and services enhance workflows for clinicians and support administrative compliance.
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Spok Holdings, Inc., through its subsidiary, Spok, Inc., engages in the healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. Its products and services enhance workflows for clinicians and support administrative compliance. The company delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager. It offers subscriptions to one-way or two-way messaging services, as well as alphanumeric pagers that are configurable to support unencrypted or encrypted operation; and ancillary services, such as voicemail, and equipment loss or maintenance protection services, as well as sells devices to resellers who lease or resell them to their subscribers. The company provides Spok Care Connect suite products for contact centers, clinical alerting and notification, mobile communications and messaging, and public safety notifications. In addition, it provides professional, software license updates, and product support services, as well as sells third-party equipment. It serves businesses, professionals, management personnel, medical personnel, field sales personnel and service forces, members of the construction industry and construction trades, real estate brokers and developers, sales and services organizations, specialty trade organizations, manufacturing organizations, and government agencies. The company was formerly known as USA Mobility, Inc. and changed its name to Spok Holdings, Inc. in July 2014. Spok Holdings, Inc. was founded in 1986 and is headquartered in Plano, Texas.
Stock analysis
Spok Holdings Inc (SPOK) currently trades at $10.35, while our model-based Fair Value estimate is $16.39, implying the stock looks roughly 36.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $15.31 per share, and 18 of the 24 models we run sit above the $10.35 price.
Bear case: the Asset-Based group reads lowest at $4.70, and 6 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: $12.51 (bear) to $20.26 (bull), the price of $10.35 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 69/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Spok Holdings Inc reported revenue of $140M in FY2025 versus $142M in FY2021, a compound −0.4%/yr. Reported net income was $15.9M in FY2025.
Key figures
Market cap $218M · P/E ratio 17.5 · P/S ratio 1.99 · EPS (TTM) $0.5900 · Dividend yield 12.1% · Net margin 11.4% · Return on equity 8.7% · Return on assets (EBIT) 5.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 36% below its 52-week high and 1% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at 58%, SPOK screens cheaper than that median.
Fair Value models
Bear $12.51Fair Value $16.39Bull $20.26
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.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.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+1.5%
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.
+1.3%
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.
−1.2%
Start year 2020 (pandemic). Over 10 years: −3.0% 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.
−7.0%
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What shareholders gained per year (last 3 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 3 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.
+5.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.8%
Dividend (yield on the price)12.1%
Profit margin 2019 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.−4% → 14%
⚠ Revenue per share shrinking 3.0%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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).
−4.9%
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 −7.1% a year for the price.
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.Health Information Services · 133 stocks
Beats the industry median on 12/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+58% · Top 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets5% · Top 25%
Net margin (TTM)9% · Top 25%
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth−9% · Bottom 25%
Dividend yield (TTM)12.1% · Top 25%
Valuation Multiplesvs Health Information Services median · lower = cheaper
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Is Spok Holdings Inc (SPOK) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $16.39 versus a price of $10.35, about +58% upside (undervalued).
What is the fair value of SPOK?
Our model-based fair value for Spok Holdings Inc is $16.39 (as of Sep 24, 2026), built from audited fundamentals. The current price: $10.35.
What is the quality score of SPOK?
Spok Holdings Inc has a Quality Score of 69/100. 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 Spok Holdings Inc (SPOK)?
Our model-based price target is the fair value of $16.39 (as of Sep 24, 2026) from 24 valuation models. Cautious scenario $12.51, optimistic scenario $20.26. It is a calculation from audited fundamentals, not an analyst target.
What is the Spok Holdings Inc stock forecast for 2026?
Our models put fair value at $16.39, about +58% upside versus a price of $10.35 (undervalued). Cautious scenario $12.51, optimistic scenario $20.26. The calculation is refreshed regularly with new filings.
What is the revenue of Spok Holdings Inc (SPOK)?
Spok Holdings Inc reported trailing-twelve-month revenue of about $137M (latest available figure, as of Sep 24, 2026).
Does Spok Holdings Inc pay a dividend?
Spok Holdings Inc currently shows a dividend yield of about 12.08% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Spok Holdings Inc (SPOK)?
For today's price to be fair in a discounted-cash-flow model, Spok Holdings Inc would have to grow free cash flow by -4.9 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of SPOK use?
Our models discount Spok Holdings Inc at 11.2 %: a base by market capitalisation (micro), damped by beta 0.44, 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 Spok Holdings Inc that is -4.9 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Spok Holdings Inc (SPOK) delivered so far?
Over the past 5 years revenue at Spok Holdings Inc grew -1.2 % a year. The price currently implies -4.9 % 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 Spok Holdings Inc (SPOK) growing?
The median revenue growth in the sector is +1.6 % a year. That is the yardstick for the growth priced into Spok Holdings Inc (-4.9 % 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 Spok Holdings Inc (SPOK)?
The free-cash-flow yield on the price is 11.55 %: that much free cash flow Spok Holdings Inc produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Spok Holdings Inc (SPOK)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Spok Holdings Inc it is $16.39 per share (as of Sep 24, 2026), against a price of $10.35. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Spok Holdings Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SPOK trades below its calculated fair value: price $10.35, fair value $16.39, a gap of about +58% (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 SPOK?
No. The price is what the market pays today ($10.35); the fair value is what the company's own numbers justify ($16.39). For Spok Holdings Inc the two are $6.04 per share apart. That gap is exactly why we show both numbers side by side.
How much is Spok Holdings Inc worth?
The market values Spok Holdings Inc at about $218M (market capitalisation, as of Sep 24, 2026). Per share that is $10.35; our models calculate a fair value of $16.39 per share.
What do the bullish and bearish scenarios say about SPOK?
Our models span a range for Spok Holdings Inc: cautious scenario $12.51, base $16.39, optimistic $20.26 per share (as of Sep 24, 2026, price $10.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SPOK?
Spok Holdings Inc trades at a price-to-earnings ratio of 17.5 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $16.39 is built from several models across several years. Other multiples: P/B 1.5, P/S 1.6, EV/EBITDA 9.4.
How solid is the balance sheet of Spok Holdings Inc (SPOK)?
Balance-sheet figures for Spok Holdings Inc (as of Sep 24, 2026): return on equity 8.7%. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is SPOK from its 52-week high?
Spok Holdings Inc trades at $10.35, about 36% below its 52-week high of $16.18 and 1% above the low of $10.23 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $16.39 is for.
Which stocks are comparable to Spok Holdings Inc?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, HealthEquity, 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 Spok Holdings Inc stock attractive at the current price?
The data as of Sep 24, 2026: price $10.35, calculated fair value $16.39 (+58%), Quality Score 69/100, from 24 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 SPOK calculated?
We run Spok Holdings Inc through 24 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 $16.39, 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 14.0 % above its aggregate fair value. Spok Holdings Inc currently trades 58 % 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 Spok Holdings Inc (SPOK)?
The closing price on Sep 24, 2026 was $10.35. Our model-based fair value is $16.39, about +58% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Spok Holdings Inc right now?
The price is below even our cautious bear case ($12.51). The market is more pessimistic than our downside scenario. Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Spok Holdings Inc
How large is the market capitalisation of Spok Holdings Inc (SPOK)?
The market capitalisation of Spok Holdings Inc is $218M. 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 Spok Holdings Inc (SPOK)?
The price-to-sales ratio of Spok Holdings Inc is 1.99 (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 Spok Holdings Inc (SPOK)?
Earnings per share at Spok Holdings Inc are $0.5900 (price ÷ EPS = P/E 17.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Spok Holdings Inc (SPOK)?
The dividend yield of Spok Holdings Inc is 12.1%. 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 Spok Holdings Inc (SPOK)?
The net margin of Spok Holdings Inc is 11.4% (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 Spok Holdings Inc (SPOK)?
The return on equity (ROE) of Spok Holdings Inc is 8.7% (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 Spok Holdings Inc (SPOK)?
On an EBIT basis the return on assets of Spok Holdings Inc is 5.2% (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 Spok Holdings Inc (SPOK)?
The operating margin of Spok Holdings Inc is 8.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Spok Holdings Inc (SPOK)?
Revenue at Spok Holdings Inc is growing −8.5% versus a year earlier (3y avg +1.3%). 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 Spok Holdings Inc (SPOK)?
Earnings per share at Spok Holdings Inc are growing −64.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Spok Holdings Inc (SPOK) hold?
Spok Holdings Inc holds more cash than debt, $18.3M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Sep 24, 2026