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The Screen · Healthcare · Medical Care Facilities
4005Mouwasat Medical
4005.SR · TADAWUL · SAR · Market cap $4.5B
National Medical Care Company, together with its subsidiaries, owns, establishes, equips, manages, maintains, and operates healthcare facilities in the Kingdom of Saudi Arabia.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price104.70 SAR
Fair value145.29
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-11-03Read Markup103.10+1.6% to today ✓Distribution gives way to Markup after a 13% slide in 3 weeks
2026-10-10Read Distribution118.00-11.3% to today ✓Markdown gives way to Distribution
2026-10-02Read Markdown118.00-11.3% to today ✓Distribution gives way to Markdown after a 17% rise in 2 weeks
2026-09-18Read Distribution101.00+3.7% to today Markup gives way to Distribution first Distribution read since July
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Mouwasat Medical holds its Markup at $104.70. Elevated stress, defensive posture warranted, held for 3 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
Elevated stress, defensive posture warranted, held for 3 days
Price at the screen
$104.70
Valuation
18.47 trailing · 15.90 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.08
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
18.62%
Below 33%
Interest-bearing debt is just 18.6% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
1.83%
Below 33%
Cash held in interest-bearing accounts and securities is 1.8% of assets, under the one-third limit.
Pass
Receivables
46.72%
Below 49%
Money owed to the company is 46.7% of assets, under the 49% limit.
Pass
Revenue purity
1.17%
Below 5%
Only 1.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Mouwasat Medical clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 19%, inside the ~33% line, and interest is about 1% of its income, under the ~5% line, so it passes.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when 4005.SR's ethical verdict changes
Today 4005.SR passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 28% discount to our 145.29 SAR fair value, 0.70% revenue growth.
Fair value range in SAR, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 27.9% discount to the base estimate.
Third-party analyst targets: 6 covering, consensus Buy. The average target sits +41% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Projections
Where our models see it going: fair-value estimate 145.29 SAR, with a range of 107.31 SAR to 178.85 SAR, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it stands out
A 1%-growth business trading at just 15.9x forward earnings, with minimal debt. That is a 28% discount to our 145.29 SAR fair value: the market is pricing it cautiously while the fundamentals argue otherwise. 6 analysts rate it Buy with a 147.50 SAR average target, about 41% above the screened price.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to Saudi Arabia and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
4005.SR trades on TADAWUL (the company is based in Saudi Arabia). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-03Markup · changed$103.10+2.0%Entry 11
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 2.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176.
2026-10-24Distribution$101.10-14.3%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 14.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176.
2026-10-02Markdown · changed$118.00+16.8%Entry 8
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 16.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176. Since the last review it its composite score eased.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176.
2026-08-19Markup · changed$101.00+0.0%Entry 6
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176.
2026-07-19Distribution$101.00+0.0%Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176.
2026-07-18Distribution$101.00+0.0%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 35%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (5 analysts) rates it buy, with a mean price target of $176.
2026-07-15Distribution$101.00+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-03Distribution$101.00+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$103.30
+0.7%
·
$1,007
+0.7%
2 months
$128.71
-19.2%
$3.00
$831
-16.9%
3 months
$124.42
-16.4%
$3.00
$860
-14.0%
6 months
$138.65
-25.0%
$3.00
$772
-22.8%
1 year
$159.91
-35.0%
$3.00
$669
-33.1%
2 years
$191.68
-45.7%
$5.00
$569
-43.1%
3 years
$112.00
-7.2%
$8.00
$1,000
0.0%
5 years
$57.46
+81.0%
$9.00
$1,967
+96.7%
Historical returns from market close data. Past performance does not guarantee future results.
The Ledger's Promise
This entry now belongs to the ledger. Whatever 4005.SR does next, these words stay.
Mouwasat Medical · 4005.SR · Markup · $104.70
Recorded 2026-11-05 · before the outcome · scored mechanically