An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.
In plain words · Cosan S.A.
VERDICT
The label
Distribution
read at $3.05
Cosan S.A. holds its Distribution at $3.05.
PHPhase · the trend structure carries the Distribution label
INInsiders · no filings inside 60 days, left as found
POPositioning · no disclosures inside 60 days, left as found
OPOptions · no verdict drawn today, left as found
SCScreen · does not pass the values gate
edge confirmed
edge broken
edge forming
Each arm is one independent read. Conviction is not a single call, it is how many edges converge.
INVESTOR
The investor read · the season, not the day
As held on the ledger · 2026-07-19
Phase
Distribution · caution
Quantitative state
Elevated stress, defensive posture warranted, held for 4 days
Price
$3.05
Valuation
N/A trailing · 12.25 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.45
OPPORTUNITY
The opportunity · what the numbers say it is worth
Our framework reads AVOID — it trades at roughly a 2% discount to our $3.11 fair value, weak competitive moat, 26.50% revenue growth.
Read at
$3.05
N/A P/E · 12.25 fwd
Our fair value
$3.11
2% discount
Analyst target (avg)
$4.11
+35% to current
Target low $3.14Analyst target rangeTarget high $5.26
▲ current $3.05 · | average target
Price history & projections · where it has been, where the models see it going
The valuation journey · where the price sits against fair value and the Street
Current
$3.05
you are here
Conservative
$2.82
-8%
Analyst avg
$4.11
+35%
Our fair value
$3.11
+2%
Analyst high
$5.26
+72%
Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish — a quality-at-a-fair-price name rather than a deep-value one.
Revenue growth
26.50%
Profit margin
-23.92%
Debt to equity
109.78
Analyst consensus
None · 4 covering
Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.
SCREEN
The values screen, explained · five checks, plain English
This company is excluded by both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. It fails on both:
The common standard· AAOIFI Used by most halal investing apps✗ DOES NOT PASS
Our stricter standard· asset-based The one Titan applies✗ DOES NOT PASS
Why it fails. The problem is its debt ratio. Because both standards agree on this, it is a clear exclusion, not a borderline case.
Business activityIts core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending.Pass
Debt loadInterest-bearing debt is 331.0% of its assets, above the one-third ceiling the screen allows.Fail
Interest-bearing cashInterest-bearing cash and securities are 130.4% of assets, above the one-third limit.Fail
ReceivablesMoney owed to the company is 0.0% of assets, under the 49% limit.Pass
Revenue purityOnly 0.0% of revenue comes from non-compliant sources — under the 5% line.Pass
Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.
PLAIN
The business, in plain words · what the numbers mean
Brazil fuel distributor trips on debt and losses
Every time a trucker fills up in Sao Paulo or ethanol moves from mill to port, the cash flows through Cosan. Yet this is not a business investors should chase. Weak moat, negative profit margins and an ethical screen failure on debt ratio mark it as one to pass.
Revenue growth of 26 percent looks lively, yet the firm posts a 24 percent profit margin and negative 30 percent return on equity. Forward earnings sit at 12.3 times, but this is a classic cyclical value trap in oil and gas refining. Peak-cycle numbers often flatter multiples that later collapse when commodity prices turn.
High leverage already tripped the ethical screen, and Brazil currency swings add further pressure. Four analysts see a higher target, yet the thin margin of safety offers little cushion against those swings. Analysis, not advice.
Screened names in the same industry · explore each on its own page.
TRADE
Where & how to trade · wherever in the world you are
CSAN trades on the NYSE (the company is based in Brazil). As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.
TRADER
The trader read · the latest dated commentary
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 14.2% 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. Technically it is momentum reading oversold. Over the past year the shares are down 56%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $5. Entered 2026-07-25 · Distribution
JOURNAL
The dated journal · newest first, never edited
2026-07-25Distribution$3.05+14.2%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 14.2% 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. Technically it is momentum reading oversold. Over the past year the shares are down 56%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $5.
2026-07-18Distribution$2.67+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: 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. Technically it is momentum reading oversold. Over the past year the shares are down 56%. Our forward projection puts the odds of a 10% gain over the next month near 16%. The street (3 analysts) rates it hold, with a mean price target of $5.
2026-07-03Distribution$2.67+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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$2.67Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. 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.
RETURNS
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
$4.00
-33.9%
·
$661
-33.9%
2 months
$4.43
-40.3%
·
$597
-40.3%
3 months
$4.30
-38.5%
·
$615
-38.5%
6 months
$4.81
-45.0%
·
$550
-45.0%
1 year
$5.95
-55.6%
·
$445
-55.6%
2 years
$9.47
-72.1%
$0.35
$316
-68.4%
3 years
$13.96
-81.1%
$0.35
$214
-78.6%
5 years
$18.10
-85.4%
$1.30
$218
-78.2%
Historical returns from market close data. Past performance does not guarantee future results.
SEALED
This entry now belongs to the ledger. Whatever CSAN does next, these words stay.
Cosan S.A. · CSAN · Distribution · $3.05
Recorded 2026-07-19 · before the outcome · scored mechanically
