Baltic Classifieds Group PLC operates online classifieds portals for automotive, real estate, jobs and services, and general merchandise in Estonia, Latvia, and Lithuania.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price2.48 GBp
Fair value2.17Our model only; the analyst targets sit too far from the price to cross-check it.
Ethical score70.0/100
Value readOvervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-20Read Markup2.27+9.4% to today ✓Distribution gives way to Markup first Markup read since August
2026-10-02Read Distribution2.27+9.2% to today Markup gives way to Distribution after a 99% slide in 6 weeks
2026-08-22Read Markup186.30-98.7% to today Markdown gives way to Markup with volume flow in agreement
2026-07-02Read Markdown186.30-98.7% to today ✓First review on file: Markdown
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.
Baltic Classifieds Group PLC holds its Markup at $2.48. The statistical read favours the buyers, held for 22 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 22 days
Price at the screen
$2.48
Valuation
25.22 trailing · 18.89 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.06
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
18.73%
Below 33%
Interest-bearing debt is just 18.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
9.03%
Below 49%
Money owed to the company is 9.0% of assets, under the 49% limit.
Pass
Revenue purity
0.17%
Below 5%
Only 0.2% 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
Baltic Classifieds clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 19%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our model only; the analyst targets sit too far from the price to cross-check it.
Our analysis reads Overvalued vs our fair value, as of 5 Nov 2026: it trades above our 2.17 GBp fair value estimate, 7.20% revenue growth.
Fair value range in GBp, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. The price runs 14.2% above the base estimate.
Third-party analyst targets. The average target sits +10,146% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Projections
Where our models see it going: fair-value estimate 2.17 GBp, with a range of 1.98 GBp to 3.30 GBp, 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 gives us pause
At 18.9x forward earnings, the price already runs ahead of the business. It trades 14% above our 2.17 GBp fair value, so you would be buying at a premium, not a discount.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Lithuania and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BCG.L trades on LSE (the company is based in Lithuania). 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
2026-11-01Markup$2.31+1.9%Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.9% 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 momentum reading bullish. Over the past year the shares are down 48%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it buy, with a mean price target of $251.
2026-10-20Markup · changed$2.27-3.7%Entry 8
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 3.7% 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 momentum reading overbought. Over the past year the shares are down 48%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it buy, with a mean price target of $251.
2026-10-13Distribution$2.35+3.6%Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 3.6% 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 48%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it buy, with a mean price target of $251.
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 98.8% 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 48%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it buy, with a mean price target of $251. Since the last review it entered the Tech 100; its composite score rose.
2026-08-22Markup · changed$186.30+0.0%Entry 5
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 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 48%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it buy, with a mean price target of $251.
2026-07-22Markdown$186.30+0.0%Entry 4
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: 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 48%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it buy, with a mean price target of $251.
2026-07-18Markdown$186.30+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: PASS with passing ethical screen (70). 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 48%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (12 analysts) rates it buy, with a mean price target of $251.
2026-07-03Markdown$186.30+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: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markdown$186.30Entry 1
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). 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
$195.90
-4.5%
·
$955
-4.5%
2 months
$197.00
-5.1%
·
$949
-5.1%
3 months
$187.60
-0.3%
·
$997
-0.3%
6 months
$192.40
-2.8%
·
$972
-2.8%
1 year
$359.95
-48.1%
$3.40
$529
-47.1%
2 years
$234.95
-20.4%
$6.14
$822
-17.8%
3 years
$164.95
+13.4%
$8.48
$1,185
+18.5%
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 BCG.L does next, these words stay.
Baltic Classifieds Group PLC · BCG.L · Markup · $2.48
Recorded 2026-11-05 · before the outcome · scored mechanically