Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price2.17 USD
Fair value2.75Our model only; only one analyst covers it, too few to cross-check it.
Ethical score30.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-09-05Read Markup2.19-0.9% to today Distribution gives way to Markup after a 12% rise in 4 weeks
2026-08-05Read Distribution1.96+11.0% to today Accumulation gives way to Distribution after a 10% slide in 5 weeks
2026-07-02Read Accumulation2.17+0.0% 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.
The Schiehallion Fund Limited holds its Markup at $2.17. The statistical read favours the sellers, held for 10 days.
As held on the ledger · 2026-11-04
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 10 days
Price at the screen
$2.17
Valuation
2.69 trailing · 4.66 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.92
The Workings
Five Screens, Shown in Full
Does not pass. Prohibited keyword in sector/industry: financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Prohibited keyword in sector/industry: financial services
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
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
The Schiehallion Fund does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Today MNTN.L 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 model only; only one analyst covers it, too few to cross-check it.
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 21% discount to our $2.75 fair value, 281.60% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 21.1% discount to the base estimate.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Projections
Where our models see it going: fair-value estimate $2.75, with a range of $2.75 to $4.34, 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 282%-growth business trading at just 4.7x forward earnings. That is a 21% discount to our $2.75 fair value: the market is pricing it cautiously while the fundamentals argue otherwise. 1 analyst rate it Strong Buy with a $2.75 average target, about 27% 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 United Kingdom and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
MNTN.L trades on LSE (the company is based in United Kingdom). 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$2.17-1.4%Entry 8
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. 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 59% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 95%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it none, with a mean price target of $1. Since the last review it its quality tier rose to Gold; its composite score rose.
2026-10-20Markup$2.20+0.9%Entry 7
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. 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 59% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 95%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it none, with a mean price target of $1.
2026-10-02Markup$2.18-0.5%Entry 6
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 47% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 95%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it none, with a mean price target of $1.
2026-09-05Markup · changed$2.19+12.0%Entry 5
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 12.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 47% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 95%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it none, with a mean price target of $1.
2026-08-05Distribution · changed$1.96-9.9%Entry 4
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 9.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 47% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 95%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it none, with a mean price target of $1.
2026-07-18Accumulation$2.17+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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 47% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 95%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it none, with a mean price target of $1.
2026-07-03Accumulation$2.17+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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Accumulation$2.17Entry 1
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
Latest News · What the Market Is Reading on MNTN.L