Positioning no disclosures inside 60 days, left as found
Options put/call open interest 4.47, read 2026-11-05
Ethical passes the values gate
Price158.45 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-10-25Read Distribution213.54-25.8% to today ✓Markdown gives way to Distribution after a 19% slide in 7 days
2026-10-18Read Markdown262.44-39.6% to today ✓Distribution gives way to Markdown after a 15% slide in 7 days
2026-10-11Read Distribution308.83-48.7% to today ✓Accumulation gives way to Distribution
2026-10-02Read Accumulation321.69-50.7% to today Distribution gives way to Accumulation after a 41% slide in 9 weeks
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.
IES Holdings Inc holds its Distribution at $158.45. Consolidating, no directional conviction, held for 28 days.
As held on the ledger · 2026-11-06
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 28 days
Price at the screen
$158.45
Valuation
14.08 trailing · N/A forward price to earnings
Values screen
PASS· score 70.0
Beta
1.85
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
5.52%
Below 33%
Interest-bearing debt is just 5.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
6.55%
Below 33%
Cash held in interest-bearing accounts and securities is 6.6% of assets, under the one-third limit.
Pass
Receivables
48.84%
Below 49%
Money owed to the company is 48.8% of assets, under the 49% limit.
Pass
Revenue purity
0.09%
Below 5%
Only 0.1% 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
IES clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 6%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-07. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when IESC's ethical verdict changes
Today IESC 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
Fair value under review. Only one analyst covers it, too few to cross-check it; our model's value is 2.78x the price, above our 2.00x limit. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-11-06 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
Wiring data centres still needs local hands
Picture a new data centre floor going live. The racks are ready but nothing works until someone runs the power and the fibre. IES Holdings does exactly that across the United States, and its revenue is still climbing 17 percent a year while it earns a 42 percent return on equity. A 10 percent profit margin and a narrow moat show a business that can keep winning repeat work without needing to be the cheapest bidder every time.
The shares sit 14 percent below our fair value of 700 dollars, the ethical screen is clean, and the single analyst target lines up with that figure. Yet the opportunity rating stays at none because the company is still small, coverage is thin, and construction work can swing hard with interest rates and project delays.
A narrow moat leaves room for bigger contractors to take share when margins look attractive, and one analyst does not give much comfort on the numbers. The valuation already prices in steady growth, so any slowdown in data-centre spending would close the gap quickly.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
IESC 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
2026-11-01Distribution$205.96-3.5%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 3.5% 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 D, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
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 18.6% 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 D, carrying a low risk profile. Technically it is momentum reading oversold. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
2026-10-18Markdown · changed$262.44-15.0%Entry 8
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 15.0% 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 B, carrying a low risk profile. Technically it is holding around 61% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
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 4.0% 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 B. Technically it is holding around 61% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 57.5% 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 A. Technically it is holding around 61% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
2026-09-01Distribution$756.18+39.1%Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 39.1% 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 A. Technically it is holding around 61% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
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 27.5% 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 A. Technically it is holding around 61% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
2026-07-18Accumulation$749.83+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 excellent risk-adjusted returns. Our composite framework grades it A. Technically it is holding around 61% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 150%. Our forward projection puts the odds of a 10% gain over the next month near 47%. The street (1 analysts) rates it none, with a mean price target of $700.
2026-07-03Accumulation$749.83+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 excellent risk-adjusted returns.
2026-07-02Accumulation$749.83Entry 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 excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.