Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price15.60 USD
Fair value17.72
Ethical score70.0/100
Our investment reviews on this name
2026-08-27Read Markup16.84-7.4% to today
2026-07-02Read Accumulation14.03+11.2% to today ✓
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
DNOW Inc. holds its Accumulation at $15.60. The statistical read favours the sellers, held for 93 days.
As held on the ledger · 2026-09-16
Phase
Accumulation
Quantitative state
The statistical read favours the sellers, held for 93 days
Price at the screen
$15.60
Valuation
N/A trailing · 18.98 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.88
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
14.91%
Below 33%
Interest-bearing debt is just 14.9% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
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
26.45%
Below 49%
Money owed to the company is 26.5% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% 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 2026-09-16 screen. The gold marker is the market price at the same screen. A 13.6% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus None. The average target sits +22% 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 2026-09-16 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
Oilfield Pipes Flow But Profits Do Not
Picture a rig crew in West Texas firing up pumps after a long slump. DNOW supplies the valves, pipes and pumps that keep those sites running. Revenue has jumped 98 percent as activity returns, yet the business still posts a negative 5 percent profit margin and negative 9 percent return on equity, so the recovery has not yet reached the bottom line.
We pass because the forward multiple of 16.5 times sits on still-loss-making operations in a sector that rises and falls with energy prices. Strong analyst targets around 16 dollars offer little comfort when earnings remain negative and the moat is unproven.
The real risk is the classic cyclical trap: peak activity can produce inflated numbers that later collapse, leaving investors with a low multiple on earnings that prove fleeting. Ethical screens clear, yet the numbers do not yet support ownership.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DNOW 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
2026-08-27Markup · changed$16.84+20.9%Entry 5
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 20.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive 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 7%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it strong buy, with a mean price target of $16.
2026-07-26Accumulation$13.93-0.7%Entry 4
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive 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 7%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it strong buy, with a mean price target of $16.
2026-07-18Accumulation$14.03+0.0%Entry 3
The framework 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 passing ethical screen. The risk-adjusted return profile shows modest positive 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 7%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it strong buy, with a mean price target of $16.
2026-07-03Accumulation$14.03+0.0%Entry 2
The framework 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 passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Accumulation$14.03Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
