Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price11.60 SAR
Ethical score70.0/100
RatingAVOID
Our investment reviews on this name
2026-07-02Read Markdown12.25-5.3% to today ✓
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.
Al Jouf Agricultural holds its Markdown at $11.60. Consolidating, no directional conviction, held for 81 days.
As held on the ledger · 2026-09-21
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 81 days
Price at the screen
$11.60
Valuation
42.96 trailing · N/A forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.28
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
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
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
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
25.12%
Below 49%
Money owed to the company is 25.1% of assets, under the 49% limit.
Pass
Revenue purity
56.39%
Below 5%
56.4% 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
Al Jouf Agricultural clears the business-activity screen. Where it falls short is income purity: around 56% of its income right now is non-operating interest income, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads AVOID
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 2026-09-21 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
On our numbers, the price already runs ahead of the business.
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 Saudi Arabia and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
6020.SR trades on TADAWUL (the company is based in Saudi Arabia). 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
2026-10-02Markdown$11.60-5.3%Entry 8
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, 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 29%. Our forward projection puts the odds of a 10% gain over the next month near 8%.
2026-09-19Markdown$12.25+0.0%Entry 7
The framework 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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, 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 29%. Our forward projection puts the odds of a 10% gain over the next month near 8%.
2026-08-20Markdown$12.25+0.0%Entry 6
The framework 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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, 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 29%. Our forward projection puts the odds of a 10% gain over the next month near 8%.
2026-07-19Markdown$12.25+0.0%Entry 5
The framework 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: FAIL. This security does not pass our values-based screening criteria. 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 29%. Our forward projection puts the odds of a 10% gain over the next month near 8%.
2026-07-18Markdown$12.25+0.0%Entry 4
The framework 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: FAIL. This security does not pass our values-based screening criteria. 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 29%. Our forward projection puts the odds of a 10% gain over the next month near 8%.
2026-07-15Markdown$12.25+0.0%Entry 3
The framework 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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-03Markdown$12.25+0.0%Entry 2
The framework 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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markdown$12.25Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. 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
$12.60
-3.7%
·
$964
-3.7%
2 months
$13.87
-12.5%
·
$875
-12.5%
3 months
$13.12
-7.5%
·
$925
-7.5%
6 months
$16.30
-25.5%
·
$745
-25.5%
1 year
$17.00
-28.6%
·
$714
-28.6%
2 years
$16.74
-27.5%
·
$725
-27.5%
3 years
$25.60
-52.6%
·
$474
-52.6%
5 years
$32.15
-62.2%
·
$378
-62.2%
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 6020.SR does next, these words stay.
Al Jouf Agricultural · 6020.SR · Markdown · $11.60
Recorded 2026-09-21 · before the outcome · scored mechanically