Screened 2026-09-01 · 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 markdown label.
Cemex SAB de CV ADR holds its Markdown at $10.45. Consolidating, no directional conviction, held for 1 days.
As held on the ledger · 2026-09-01
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 1 days
Price at the screen
$10.45
Valuation
29.86 trailing · 11.36 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.85
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
23.42%
Below 33%
Interest-bearing debt is just 23.4% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.04%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
12.41%
Below 49%
Money owed to the company is 12.4% of assets, under the 49% limit.
Pass
Revenue purity
0.30%
Below 5%
Only 0.3% 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 2026-09-01 screen. The gold marker is the market price at the same screen. A 7.5% margin of safety to the base estimate.
Third-party analyst targets: 15 covering, consensus None. The average target sits +41% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
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 2026-09-01 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
Cement demand rises and falls with every cycle
Picture a Mexican cement works running flat out one year and idling the next as public works budgets swing. Cemex sits right in that rhythm, selling the concrete that builds roads and homes across emerging markets. The business clears just 3 percent profit margins and a 4 percent return on equity, numbers that already signal thin returns before any downturn hits.
Our numbers put fair value at 11.16 dollars against the current 12.97 dollars, so the shares trade above what the cash flows justify. A 14.4 times forward multiple looks modest until you remember this is a cyclical industry where peak earnings often coincide with the lowest multiples. Narrow moat, modest revenue growth and an ethical pass do not change the fact that the valuation already prices in recovery without enough margin of safety.
Analyst targets sit higher, yet those forecasts tend to extrapolate the good years. The real risk is that construction spending slows, margins compress further and the low multiple proves to be a trap rather than a bargain. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Mexico and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CX trades on the NYSE (the company is based in Mexico). 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
2026-08-26Markdown · changed$11.08-14.6%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 14.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 72%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (15 analysts) rates it buy, with a mean price target of $14.
2026-07-26Markup$12.97-0.1%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 72%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (15 analysts) rates it buy, with a mean price target of $14.
2026-07-18Markup$12.98+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 72%. Our forward projection puts the odds of a 10% gain over the next month near 31%. The street (15 analysts) rates it buy, with a mean price target of $14.
2026-07-03Markup$12.98+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$12.98Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
