Positioning no disclosures inside 60 days, left as found
Options put/call open interest 2.68, read 2026-11-05
Ethical passes the values gate
Price44.72 USD
Fair value45.74
Ethical score70.0/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-10-02Read Accumulation42.83+4.4% to today ✓Markup gives way to Accumulation after an 8% rise in 8 weeks
2026-08-04Read Markup39.52+13.2% to today ✓Accumulation gives way to Markup
2026-07-02Read Accumulation37.94+17.9% to today ✓First review on file: Accumulation
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.
Liquidity Services, Inc. holds its Accumulation at $44.72. Consolidating, no directional conviction, held for 40 days.
As held on the ledger · 2026-11-05
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 40 days
Price at the screen
$44.72
Valuation
43.84 trailing · 24.30 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.07
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
3.68%
Below 33%
Interest-bearing debt is just 3.7% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
2.99%
Below 33%
Cash held in interest-bearing accounts and securities is 3.0% of assets, under the one-third limit.
Pass
Receivables
49.53%
Below 49%
Money owed to the company is 49.5% of assets, under the 49% limit.
Pass
Revenue purity
0.92%
Below 5%
Only 0.9% 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
Liquidity Services, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 4%, 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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Today LQDT 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 Fair vs our fair value, as of 5 Nov 2026: it trades at roughly a 2% discount to our $45.74 fair value, 8.10% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 2.2% discount to the base estimate.
Third-party analyst targets. The average target sits +14% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Where our models see it going: fair-value estimate $45.74, with a range of $45.00 to $52.00, 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
Auction marketplaces struggle for growth at full price
Picture a warehouse manager clearing last season's stock through online bids. Liquidity Services sits in that flow, yet its thin growth and modest returns leave little to excite. With revenue expanding just 4% and a forward multiple of 23 times earnings, the shares sit close to our calculated value and earn no opportunity rating despite clearing the ethical screen.
The business earns a 6% profit margin and 14% return on equity across its government and retail auction segments, numbers that look ordinary rather than durable. Unknown competitive protection and only two analysts covering the name add to the sense that this is not a standout compounder worth stretching for at current levels.
Cyclical retail flows can swing sharply, and a low-teens return profile offers scant cushion if volumes soften. The narrow gap to fair value reinforces the decision to pass. Analysis, not advice.
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.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
LQDT trades on Nasdaq. 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
2026-11-04Accumulation$44.38+0.2%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.2% 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 B. Technically it is holding around 22% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44. Insiders have been net sellers over the past quarter.
2026-10-28Accumulation$44.30+0.5%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.5% 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 B. Technically it is holding around 22% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44. Insiders have been net sellers over the past quarter.
2026-10-21Accumulation$44.09+2.2%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.2% 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 B. Technically it is holding around 21% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44. Insiders have been net sellers over the past quarter.
2026-10-14Accumulation$43.13+0.7%Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.7% 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 C. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44. Insiders have been net sellers over the past quarter.
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 2.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44.
2026-09-04Markup$41.79+5.7%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 5.7% 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 C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44.
2026-08-04Markup · changed$39.52+4.2%Entry 4
The framework has shifted from accumulation 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 4.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44.
2026-07-18Accumulation$37.94+0.0%Entry 3
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. 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 C, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 54%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (2 analysts) rates it strong buy, with a mean price target of $44.
2026-07-03Accumulation$37.94+0.0%Entry 2
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$37.94Entry 1
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
