Gulfport Energy Corp
GPORBelow valueExpectations · modestHeld by 2 superinvestors.
SEC 10-K · fundamentals
Business quality
as of 2025-12-31Valuation basis: trailing twelve months to 2026-06-30 — latest 10-K plus unaudited 10-Q filings.
- Revenue growth
- +48.5%
- Net margin
- 30.1%
- ROE
- 23.3%
- FCF margin
- —
Valuation · value band
Margin of safety
Zero-growth floor
$174
Central IV
$206
Optimistic top
$242
Gulfport Energy Corp (GPOR): A conservative value band $174–$242 / sh (zero-growth floor to growth-capped optimistic top); central read about $206. Today’s price sits below that band (price $173 as of 2026-08-21).
The middle figure is the main read. The right end is the optimistic case under the same conservative caps — not an absolute ceiling.
Revenue growth 1% (lower of historical trend and fundamental cap, capped by moat) · moat 0 yr · discount 10.6% · Zero-growth downside $174
Price as of 2026-08-21 · yahoo · DGS10 4.7% @ 2026-08-20.
Method & numbers
Model cautions
- Owner-earnings yield diverges sharply from the 10-year Treasury (over 300 bps).
A conservative intrinsic-value band (zero-growth floor to growth-capped DCF) plus a tangible asset floor — not investment advice, not a buy/sell signal, and not a price target.
Owner-earnings DCF $165.33 – $242.24 · Greenwald zero-growth $213.06 · zero-growth base $213.06 · reproduction $101.83
Moat Below asset base · terminal value 41% of present value · owner-earnings yield 11% vs 10Y 4.7%.
Graham earnings-power value (normalized NOPAT)
Normalized operating earnings net of maintenance capex are non-positive over the years shown; earnings power cannot be capitalized.
Normalized NOPAT = average operating margin over the years shown × latest-year revenue × (1 − normalized tax); then + D&A − maintenance capex (write A). Unlevered (pre-interest, attributable to all capital). Capitalized at the 9–11% rate band (read as a WACC proxy). Enterprise → equity bridge applied: + cash − total debt.
Years: TTM 2026-06-30, 2024, 2023, 2022, 2020
v1 simplifications: Maintenance capex unavailable → degraded to the v1 simplification (maintenance capex = D&A, so the depreciation add-back nets to zero). Share-based compensation is left as a real expense (not added back).
Buffett owner-earnings value$174.32 – $213.06 / sh
Owner earnings = average net income + average D&A − maintenance capex (zero-growth floor; no ΔNWC). Levered (starts from net income, already after interest — an equity-holder stream). Capitalized at the 9–11% rate band (read as a cost-of-equity proxy). No enterprise→equity bridge: the capitalized result is already equity value (subtracting debt would double-count interest).
Years: TTM 2026-06-30, 2024, 2023, 2022, 2020
v1 simplifications: Maintenance capex or D&A unavailable → degraded to normalized net income (= average net income over the years shown). One-time items are not separately normalized (multi-year averaging smooths them partially). Share-based compensation is left as a real expense (not added back); see the SBC/OE disclosure. Capitalized at the 9–11% band as a cost-of-equity proxy; no leverage premium applied (net cash or debt within the no-charge range).
Reproduction value = tangible net assets $1.83B = $101.83 / sh. Total book value (shareholders' equity ÷ diluted shares); intangibles not separated — goodwill/intangibles unavailable this period.
Moat reading: Franchise test compares earnings power (EPV) against reproduction value (tangible net assets + capitalized R&D). EPV well above reproduction value signals a moat; near it, a commodity; below it, value destruction. Dual reproduction test unavailable (intangibles not separated). A directional reading, not a verdict.
Growth value gated to zero — no moat or ROIIC ≤ WACC, so no growth value is credited.
Window TTM 2026-06-30, FY 2024, 2023, 2022, 2020 · discount band 9%–11% · normalized tax 0% (Average effective tax rate over 5 year(s), capped at the statutory 21%.) · diluted shares.
Owner-earnings DCF: growth g₁ 1% · OE FY TTM 2026-06-30, 2024, 2023, 2022, 2020 · Discount band: 9.19%–12.00% (DGS10 +4.5% to a 12% strict end, as of 2026-08-20). No enterprise→equity bridge: owner earnings already flow to shareholders (post-interest), so no net cash is added and no debt subtracted — matching the engine owner-earnings lamp.
Valuation basis: trailing twelve months to 2026-06-30 — latest 10-K plus unaudited 10-Q filings.
What the price is betting
Today's price pencils in about -1.9% a year in owner-earnings for the next few years. Revenue actually grew 7.1% a year.
Below what it has already done.
Roughly, the price needs its historical revenue growth to run about 1 more years to hold up.
SEC 13F · holders
Superinvestors Holding This Security
2 holders · $44.5M combined · this quarter +0 opened / -0 exited
- Value$27.1MWeight (prev→now)0.1% → 0.1% ▲
- Value$17.3MWeight (prev→now)0.0% → 0.0% ▲
SEC 13F · notes
Written summary
Written summary
Gulfport Energy Corp (GPOR) is held by 2 of the superinvestors tracked on Compounder, with a combined $44.5M in reported 13F value. The largest position belongs to Ray Dalio, where it makes up 0.1% of the portfolio.
Other notable holders by value include Jeremy Grantham (0.0% of its book).
Over the latest quarter, 0 of the tracked filers opened a new position in GPOR, 2 added to existing ones, 0 trimmed, and 0 sold out entirely.
Holder counts and values reflect the most recent SEC Form 13F filings, through the quarter ended 2026-06-30. Source: SEC EDGAR. A 13F shows only long US-listed positions and can lag the real portfolio by up to 45 days, so this is disclosed long ownership, not a complete picture.
SEC 13F · co-ownership
Also held by these investors
Investors holding Gulfport Energy Corp (GPOR) also commonly hold →
- Ss Spdr S&P 500 Etf Trust-UsSPY2 holders
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- Meta Platforms Inc-Class AMETA2 holders
GPOR's price is below its conservative value band. Browse all undervalued stocks by margin of safety
Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-08-14
Educational data only — not investment advice. 13F positions are self-reported and can lag up to 45 days.
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