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The Screen · Financials · Insurance - Property & Casualty
Medgulf Insurance
8020.SR · TADAWUL · SAR · Market cap $459M
Malath Cooperative Insurance Company provides insurance products and related services to individuals, small and medium enterprises, and corporates in the Kingdom of Saudi Arabia.
FAIL · Does not pass the screen
9.20 SAR
Screen close, 2026-09-21 · not a live quote Last reviewed 14 days ago
Screened 2026-09-21 · the tape above runs as of 09:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 9.20 against the desk's fair-value range, base estimate 13.53, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price9.20 SAR
Fair value13.53
Ethical score30.0/100
RatingAVOID
Our investment reviews on this name
2026-10-02Read Distribution9.20+0.0% to today
2026-07-02Read Markdown9.18+0.2% 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.
Medgulf Insurance holds its Distribution at $9.20. The statistical read favours the sellers, held for 28 days.
As held on the ledger · 2026-09-21
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 28 days
Price at the screen
$9.20
Valuation
27.06 trailing · 8.36 forward price to earnings
Values screen
FAIL· score 30.0
Beta
0.21
The Workings
Five Screens, Shown in Full
Does not pass. Business activity: conventional financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Insurance — review required (takaful model)
Fail
Debt load
0.02%
Below 33%
Interest-bearing debt is just 0.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
15.89%
Below 33%
Cash held in interest-bearing accounts and securities is 15.9% of assets, under the one-third limit.
Pass
Receivables
20.16%
Below 49%
Money owed to the company is 20.2% of assets, under the 49% limit.
Pass
Revenue purity
0.12%
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 Falls Short, in Plain English
Medgulf Insurance 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 2026-10-04. 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: it trades at roughly a 47% discount to our $13.53 fair value.
Fair value range in SAR, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. A 47.1% margin of safety to the base estimate.
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
At 8.4x forward earnings, the price already runs ahead of the business. Our fair value sits at $13.53, below where it trades today.
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
8020.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
2026-10-02Distribution · changed$9.20+0.2%Entry 8
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 up 0.2% 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 33%. Our forward projection puts the odds of a 10% gain over the next month near 9%.
2026-09-19Markdown$9.18+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 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 33%. Our forward projection puts the odds of a 10% gain over the next month near 9%.
2026-08-20Markdown$9.18+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 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 33%. Our forward projection puts the odds of a 10% gain over the next month near 9%.
2026-07-20Markdown$9.18+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 33%. Our forward projection puts the odds of a 10% gain over the next month near 9%.
2026-07-18Markdown$9.18+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 33%. Our forward projection puts the odds of a 10% gain over the next month near 9%.
2026-07-16Markdown$9.18+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. 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 33%. Our forward projection puts the odds of a 10% gain over the next month near 9%.
2026-07-03Markdown$9.18+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$9.18Entry 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
$8.90
+2.3%
·
$1,023
+2.3%
2 months
$9.09
+0.1%
·
$1,001
+0.1%
3 months
$8.50
+7.1%
·
$1,071
+7.1%
6 months
$9.91
-8.2%
·
$918
-8.2%
1 year
$13.58
-33.0%
·
$670
-33.0%
2 years
$17.68
-48.5%
·
$515
-48.5%
3 years
$18.32
-50.3%
·
$497
-50.3%
5 years
$28.30
-67.8%
·
$322
-67.8%
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 8020.SR does next, these words stay.
Medgulf Insurance · 8020.SR · Distribution · $9.20
Recorded 2026-09-21 · before the outcome · scored mechanically