Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.04, read 2026-11-05
Ethical passes the values gate
Price31.32 USD
Fair value41.39
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-11Read Accumulation27.62+13.4% to today ✓Markdown gives way to Accumulation after a 19% slide in 14 weeks
2026-07-02Read Markdown34.10-8.2% to today ✓First review on file: Markdown
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.
Amer Sports, Inc. holds its Accumulation at $31.32. Elevated stress, defensive posture warranted, held for 299 days.
As held on the ledger · 2026-11-05
Phase
Accumulation
Quantitative state
Elevated stress, defensive posture warranted, held for 299 days
Price at the screen
$31.32
Valuation
30.98 trailing · 17.85 forward price to earnings
Values screen
PASS
Beta
2.03
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
9.18%
Below 33%
Interest-bearing debt is just 9.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
3.41%
Below 33%
Cash held in interest-bearing accounts and securities is 3.4% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.10%
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
Amer Sports, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 9%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 24% discount to our $41.39 fair value, weak competitive moat, 32.10% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 24.3% discount to the base estimate.
Where our models see it going: fair-value estimate $41.39, with a range of $27.90 to $47.60, dated to the 2026-11-05 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
New trainers in Shanghai hide thin margins
Picture someone in Helsinki pulling on a new pair of skis or a runner in Jakarta buying fresh trainers. Amer Sports sits behind many of those purchases and revenue is rising fast at 32 percent. Yet the business earns only a 6 percent profit margin and an 8 percent return on equity while its competitive edge looks weak.
We pass because a forward multiple of 23 times earnings buys exposure to a cyclical consumer business that cannot turn growth into strong returns. The 15 percent gap to our fair value does not change the fact that low profitability and a thin moat leave little room for disappointment.
Analysts see further upside and the ethical screen is clear, but consumer spending on discretionary goods can slow quickly when wallets tighten. That combination keeps the opportunity rating at avoid.
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
AS trades on the NYSE. 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
2026-11-01Accumulation$29.43-2.0%Entry 12
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 2.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-10-25Accumulation$30.02+0.0%Entry 11
The 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 ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-10-18Accumulation$30.02+8.7%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 8.7% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
The framework has shifted from markdown to accumulation since the last review. 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 ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-10-02Markdown$27.62+0.6%Entry 8
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.6% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good 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 neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-09-24Markdown$27.45-15.9%Entry 7
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 15.9% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-08-22Markdown$32.63-10.5%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 10.5% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good 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 neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-07-21Markdown$36.44+6.9%Entry 5
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 6.9% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-07-18Markdown$34.10+0.0%Entry 4
Our analysis 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: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
2026-07-17Markdown$34.10+0.0%Entry 3
Our analysis 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: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 11%. Our forward projection puts the odds of a 10% gain over the next month near 37%. The street (23 analysts) rates it strong buy, with a mean price target of $50.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
