Screened 2026-09-11 · the tape above runs as of 17:00 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 markup label.
The Descartes Systems Group Inc. holds its Markup at $76.04. Consolidating, no directional conviction, held for 14 days.
As held on the ledger · 2026-09-11
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 14 days
Price at the screen
$76.04
Valuation
37.83 trailing · 23.10 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.20
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
0.44%
Below 33%
Interest-bearing debt is just 0.4% 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
22.22%
Below 49%
Money owed to the company is 22.2% 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 2026-09-11 screen. The gold marker is the market price at the same screen. A 19.4% margin of safety to the base estimate.
Third-party analyst targets: 13 covering, consensus Buy. The average target sits +26% 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 2026-09-11 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
Every time a container crosses a border or a truck clears customs, the paperwork and tracking must run without friction. Descartes supplies the modular platform that keeps those flows moving for shippers and carriers across dozens of countries. Revenue is expanding at 15 percent, margins sit at 23 percent, and the business clears our ethical screen with room to spare.
The valuation leaves little margin for error. Forward earnings trade at 22.8 times, return on equity is only 11 percent, and our models show no clear opportunity despite the 21 percent gap to fair value. Analyst targets sit higher, yet the numbers do not justify stepping in at current levels.
Unknown competitive durability and modest capital returns keep the risk profile elevated. Currency moves and slower global trade volumes could compress growth quickly. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Canada and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
DSGX trades on Nasdaq (the company is based in Canada). 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$77.52+4.5%Entry 5
The framework has shifted from distribution 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 4.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative 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 26%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (13 analysts) rates it buy, with a mean price target of $101.
2026-07-26Distribution$74.16+1.6%Entry 4
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 1.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative 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 26%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (13 analysts) rates it buy, with a mean price target of $101.
2026-07-18Distribution$72.97+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: PASS with passing ethical screen. The risk-adjusted return profile shows negative 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 26%. Our forward projection puts the odds of a 10% gain over the next month near 15%. The street (13 analysts) rates it buy, with a mean price target of $101.
2026-07-03Distribution$72.97+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: PASS with passing ethical screen (70). The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$72.97Entry 1
The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). 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.
