NAS10026,944+1.18%S&P7,385+0.42%GOLD$4,067−1.12%BTC$75,586−0.47%VIX25.28−10.29%latest tape · as of 18:01 UTC
The Screen · Utilities · Utilities - Diversified
QEWSQatar Electricity & Water
QEWS.QA · QSE · QAR · Market cap $15.8B
Nebras Energy Q.P.S.C., together with its subsidiaries, invests in, develops, owns, and operates plants to produce electricity and desalinated water in Qatar and internationally.
FAIL · Does not pass the screen
14.15 QAR
Price as of 4 Nov 2026Daily close, not a live quote
Screened 2026-11-04 · the tape above runs as of 18:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price14.15 QAR at the 4 Nov 2026 close
Our value readUndervalued vs our fair value, as of 4 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price14.15 QAR
Fair value20.23
Ethical score70.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-11-04Read Markup13.77+2.8% to today ✓Distribution gives way to Markup
2026-10-28Read Distribution13.15+7.6% to today Markdown gives way to Distribution
2026-10-02Read Markdown13.15+7.6% to today Distribution gives way to Markdown after a 9% slide in 8 weeks
2026-08-09Read Distribution14.40-1.7% to today ✓Markdown gives way to Distribution with volume flow in agreement
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.
Qatar Electricity & Water holds its Markup at $14.15. Elevated stress, defensive posture warranted, held for 1 days.
As held on the ledger · 2026-11-04
Phase
Markup
Quantitative state
Elevated stress, defensive posture warranted, held for 1 days
Price at the screen
$14.15
Valuation
10.60 trailing · 8.95 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.09
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
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
29.27%
Below 33%
Interest-bearing debt is just 29.3% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
8.86%
Below 33%
Cash held in interest-bearing accounts and securities is 8.9% of assets, under the one-third limit.
Pass
Receivables
13.49%
Below 49%
Money owed to the company is 13.5% of assets, under the 49% limit.
Pass
Revenue purity
6.67%
Below 5%
6.7% of revenue comes from non-compliant sources, over the 5% line.
Fail
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 Falls Short, in Plain English
Qatar Electricity & Water clears the business-activity screen, and its debt is inside the line. Where it falls short is income purity: around 7% of its income right now is non-operating interest income, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when QEWS.QA's ethical verdict changes
Today QEWS.QA does not pass the screen. If new figures move it to a pass, 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.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 31% discount to our 20.23 QAR fair value, 7.70% revenue growth.
Fair value range in QAR, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 30.1% discount to the base estimate.
Third-party analyst targets: 4 covering, consensus Buy. The average target sits +30% 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 20.23 QAR, with a range of 16.54 QAR to 27.56 QAR, dated to the 2026-11-04 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 8%-growth business trading at just 9.0x forward earnings, with minimal debt. That is a 31% discount to our 20.23 QAR fair value: the market is pricing it cautiously while the fundamentals argue otherwise. 4 analysts rate it Buy with a 18.40 QAR average target, about 30% 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 Qatar and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
QEWS.QA trades on QSE (the company is based in Qatar). 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
2026-11-04Markup · changed$13.77+4.7%Entry 9
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 4.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. 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 7%. Our forward projection puts the odds of a 10% gain over the next month near 3%. The street (4 analysts) rates it buy, with a mean price target of $20.
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: 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 7%. Our forward projection puts the odds of a 10% gain over the next month near 3%. The street (4 analysts) rates it buy, with a mean price target of $20.
2026-10-21Markdown$13.15+0.0%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. 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 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 7%. Our forward projection puts the odds of a 10% gain over the next month near 3%. The street (4 analysts) rates it buy, with a mean price target of $20.
2026-10-02Markdown · changed$13.15-8.7%Entry 6
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 down 8.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. 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 neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 3%. The street (4 analysts) rates it buy, with a mean price target of $20.
2026-09-10Distribution$14.40+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 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 neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 3%. The street (4 analysts) rates it buy, with a mean price target of $20.
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: FAIL. This security does not pass our values-based screening criteria. 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 neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 3%. The street (4 analysts) rates it buy, with a mean price target of $20.
2026-07-18Markdown$14.40+0.0%Entry 3
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. 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 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 neutral. Over the past year the shares are down 7%. Our forward projection puts the odds of a 10% gain over the next month near 3%. The street (4 analysts) rates it buy, with a mean price target of $20.
2026-07-03Markdown$14.40+0.0%Entry 2
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. 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 modest positive risk-adjusted returns.
2026-07-02Markdown$14.40Entry 1
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive 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
$14.56
-1.8%
·
$982
-1.8%
2 months
$14.67
-2.5%
·
$975
-2.5%
3 months
$14.44
-1.0%
·
$990
-1.0%
6 months
$14.66
-2.5%
$0.51
$1,010
+1.0%
1 year
$15.34
-6.8%
$0.75
$981
-1.9%
2 years
$13.61
+5.1%
$1.53
$1,163
+16.3%
3 years
$14.84
-3.6%
$2.39
$1,125
+12.5%
5 years
$12.85
+11.3%
$4.14
$1,435
+43.5%
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 QEWS.QA does next, these words stay.
Qatar Electricity & Water · QEWS.QA · Markup · $14.15
Recorded 2026-11-04 · before the outcome · scored mechanically