Screened 2026-09-02 · the tape above runs as of 11:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its accumulation label.
POSCO Holdings Inc ADR holds its Accumulation at $61.43. Consolidating, no directional conviction, held for 6 days.
As held on the ledger · 2026-09-02
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 6 days
Price at the screen
$61.43
Valuation
18.56 trailing · 10.65 forward price to earnings
Values screen
PASS· score 70.0
Beta
1.64
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
28.33%
Below 33%
Interest-bearing debt is just 28.3% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
2.34%
Below 33%
Cash held in interest-bearing accounts and securities is 2.3% of assets, under the one-third limit.
Pass
Receivables
16.32%
Below 49%
Money owed to the company is 16.3% of assets, under the 49% limit.
Pass
Revenue purity
0.77%
Below 5%
Only 0.8% 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.
Fair value range in USD, drawn from the 2026-09-02 screen. The gold marker is the market price at the same screen. The price runs 5.0% above the base estimate.
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.
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 2026-09-02 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
Steel Slumps Expose the Limits of Cheap Multiples
Picture a blast furnace that only runs hot when Asian construction booms. POSCO sits in exactly that spot. Revenue inches forward at 2 percent, margins sit at 1 percent and return on equity barely clears 1 percent, yet the shares trade at 9.5 times forward earnings. The low multiple looks tempting until you remember this is a cyclical steel business whose peak earnings rarely last.
We pass. A narrow moat offers little protection when global steel prices turn, and the modest growth and thin returns suggest the current valuation already prices in average cycles rather than a bargain. One analyst target sits higher, yet the numbers do not point to durable outperformance once volumes normalise.
The real risk is the classic value trap: earnings peak, the multiple compresses further and capital stays tied up for years. Ethical checks clear, but opportunity does not. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; its business and earnings are exposed to South Korea and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PKX trades on the NYSE (the company is based in South Korea). 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 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 up 20.0% 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 holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (1 analysts) rates it none, with a mean price target of $85.
2026-08-08Distribution$51.20-19.1%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 19.1% 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 holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (1 analysts) rates it none, with a mean price target of $85.
2026-07-18Distribution$63.32+0.0%Entry 3
The framework 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 C, carrying a low risk profile. Technically it is holding around 12% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 22%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (1 analysts) rates it none, with a mean price target of $85.
2026-07-03Distribution$63.32+0.0%Entry 2
The framework 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 (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$63.32Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
