Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.43, read 2026-11-01
Ethical passes the values gate
Price44.34 USD
Fair value63.00
Ethical score70.0/100
RatingSTRONG OPPORTUNITY
Our investment reviews on this name
2026-10-28Read Markup40.29+10.1% to today ✓Markdown gives way to Markup first Markup read since July
2026-10-02Read Markdown41.11+7.9% to today Accumulation gives way to Markdown after a 9% slide in 5 weeks
2026-08-30Read Accumulation45.15-1.8% to today Markup gives way to Accumulation first Accumulation read since July
2026-07-30Read Markup43.35+2.3% to today ✓Distribution gives way to Markup
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.
Sanofi SA holds its Markup at $44.34. The statistical read favours the buyers, held for 6 days.
As held on the ledger · 2026-10-30
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 6 days
Price at the screen
$44.34
Valuation
22.70 trailing · 8.25 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.28
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
16.03%
Below 33%
Interest-bearing debt is just 16.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
6.04%
Below 33%
Cash held in interest-bearing accounts and securities is 6.0% of assets, under the one-third limit.
Pass
Receivables
0.63%
Below 49%
Money owed to the company is 0.6% of assets, under the 49% limit.
Pass
Revenue purity
0.28%
Below 5%
Only 0.3% 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
Sanofi clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 16%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-31. It updates when the underlying figures move, and past reads are kept below.
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Today SNY 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.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads STRONG OPPORTUNITY: it trades at roughly a 42% discount to our $63.00 fair value, 14.60% revenue growth.
Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. A 42.1% margin of safety to the base estimate.
Third-party analyst targets: 9 covering, consensus Buy. The average target sits +23% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-30 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
Everyday jabs that still need funding
When a toddler gets their Hib vaccine or a family in Toulouse starts treatment for a rare disease, Sanofi is often the quiet supplier behind it. The shares sit at 8.7 times forward earnings with 6 percent revenue growth and a 16 percent profit margin, yet the market prices the business well below our fair value. It clears our ethical screen without flags, and nine analysts still cluster around a lower target than the numbers support.
The 41 percent margin of safety comes from steady demand for vaccines and specialist medicines that do not vanish in a downturn. ROE at 7 percent is modest, but the cash flow profile looks durable for a business this size and the opportunity rating reflects exactly that gap between price and value.
Patent cliffs, pricing pressure from governments, and unknown competitive edges remain real risks in any large drug maker. Currency moves and regulatory shifts in Europe can also bite harder than expected. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to France and to currency swings; as a drug manufacturers - general name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SNY trades on NASDAQ (ADR) (the company is based in France). 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
2026-10-28Markup · changed$40.29+0.0%Entry 15
The framework has shifted from markdown 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 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 bullish. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it buy, with a mean price target of $54.
2026-10-21Markdown$40.29+0.5%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.5% 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 neutral. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it buy, with a mean price target of $54.
2026-10-14Markdown$40.07-2.5%Entry 13
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.5% 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 B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it buy, with a mean price target of $54.
2026-10-02Markdown · changed$41.11-8.9%Entry 12
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.9% 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 B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it buy, with a mean price target of $54.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.2% 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 B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it buy, with a mean price target of $54.
2026-07-30Markup · changed$43.35+0.0%Entry 10
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 modest positive risk-adjusted returns. Our composite framework grades it B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it none, with a mean price target of $56. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-28Distribution$43.35+0.0%Entry 9
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: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it none, with a mean price target of $56. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-27Distribution$43.35+0.0%Entry 8
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: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it none, with a mean price target of $56. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-26Distribution$43.35+0.0%Entry 7
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: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it none, with a mean price target of $56. It reported earnings in this window, a natural checkpoint for the thesis.
2026-07-25Distribution$43.35-2.9%Entry 6
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.9% 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 B, 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 8%. Our forward projection puts the odds of a 10% gain over the next month near 13%. The street (9 analysts) rates it none, with a mean price target of $56. It reported earnings in this window, a natural checkpoint for the thesis.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
