2026-10-25
The Descartes Systems clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
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latest tape · as of 18:01 UTC
The Screen · Technology · Software - Application
The Descartes Systems Group Inc.
DSGX · Nasdaq · USD · Market cap $8.1B · 2,364 employees
The Descartes Systems Group Inc.
Not yet scored94.82 USD
Price as of 5 Nov 2026Daily close, not a live quote
Screened 2026-11-05 · the tape above runs as of 18:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
- Price94.82 USD at the 5 Nov 2026 close
- Our value readFair vs our fair value, as of 5 Nov 2026
- Our regime readMarkup, as of 5 Nov 2026
- Ethical screenNot yet scored
- OptionsOpen interest leans to puts (put/call 1.20)
- Last reviewed5 Nov 2026 (1 days ago)
- Release timesRelease and earnings times on your chart: Event Guard Mentor
A summary of the dated readings below, not a live quote and not advice.
PRICE · ONE YEAR
Our fair-value range: $81.00 to $110.50, base estimate $93.20 (screen dated 2026-11-05).
- Trend Markup
- Insiders no filings inside 60 days, left as found
- Positioning no disclosures inside 60 days, left as found
- Options put/call open interest 1.20, read 2026-11-05
- Ethical screen not yet scored
Price94.82 USD
Fair value93.20
Ethical score70.0/100
Value readFairas of 5 Nov 2026
Our investment reviews on this name
2026-10-11Read Markup81.19+16.8% to today ✓Distribution gives way to Markup first Markup read since August
2026-10-02Read Distribution81.19+16.8% to today Markup gives way to Distribution first Distribution read since July
2026-08-27Read Markup77.52+22.3% to today ✓Distribution gives way to Markup after a 6% rise in 8 weeks
2026-07-02Read Distribution72.97+29.9% to today First review on file: Distribution
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.
The full research record, in depth, below
This name holds its markup label.
The Descartes Systems Group Inc. holds its Markup at $94.82. The statistical read favours the buyers, held for 15 days.
| Phase | Markup |
| Quantitative state | The statistical read favours the buyers, held for 15 days |
| Price at the screen | $94.82 |
| Valuation | 44.07 trailing · 27.86 forward price to earnings |
| Values screen | Not scored · score 70.0 |
| Beta | 0.22 |
Five Screens, Shown in Full
This security has not been fully scored against the values screen yet.
| 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 |
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 ReadThe Read, in Plain English
The Descartes Systems clears the business-activity screen and the figures we can measure look clean, but one or more financial figures are still pending, so the verdict is not final yet.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
Clears
The Descartes Systems clears all five screens. Its business is in a permissible area, its debt is near-nil, and almost none of its income is interest, so it passes.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
What the Numbers Say It Is WorthThe Fair Value Range
Our analysis reads Fair vs our fair value, as of 5 Nov 2026: it trades above our $93.20 fair value estimate, 11.80% revenue growth.
How a fair value is estimated: discounted cash flow (DCF).
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. The price runs 1.7% above the base estimate.
Third-party analyst targets. The average target sits +3% from the screen price.
Reading the gap · Our model and the Street both land near the screened price: fairly valued, with no strong edge either way.
Price History & ProjectionsWhere our models see it going: fair-value estimate $93.20, with a range of $81.00 to $110.50, 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 WordsLogistics software quietly powering cross border trade
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.
| Forward P/E | 27.9xexpensive even after accounting for its growth |
| Trailing P/E | 44.1xexpensive: the price assumes strong growth ahead |
| EPS, trailing | 2.15 |
| EPS, forward | 3.40 |
| Revenue growth | +11.8%steady growth |
| Profit margin | 24.3%healthy profit margins |
| Return on equity | 12.0%a modest return on shareholder capital |
| FCF yield | 3.72% |
| Debt to equity | 0.46minimal debt: a conservative balance sheet |
| Current ratio | 2.02comfortably covers its short-term bills |
| Beta | 0.22barely tracks the market's swings |
| 52-week range | 62.56 - 95.41 |
| Market cap | $8.1B |
| Employees | 2,364 |
Another profit measure, before interest, tax and non-cash costs: EBITDA.
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 TradeDSGX 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.
Every Entry, As Written
2026-11-01
Markup $90.62
+0.4% Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 0.4% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. 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.
2026-10-25
Markup $90.23
+1.8% Entry 9
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.8% since our last review. Ethical screening: not fully scored yet. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. 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.
2026-10-18
Markup $88.64
+9.2% Entry 8
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 9.2% 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 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.
2026-10-11
Markup · changed $81.19
+0.0% Entry 7
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 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 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.
2026-10-02
Distribution · changed $81.19
+4.7% Entry 6
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 4.7% 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.
2026-08-27
Markup · 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.
2026-07-26
Distribution $74.16
+1.6% Entry 4
Our analysis 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.
2026-07-18
Distribution $72.97
+0.0% Entry 3
Our analysis 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.
2026-07-03
Distribution $72.97
+0.0% Entry 2
Our analysis 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.
2026-07-02
Distribution $72.97
Entry 1
Our analysis 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.
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| Date | Politician | Party | Type | Amount |
|---|---|---|---|---|
| 2026-06-30 | Gil Cisneros | Democrat | buy | 1K–15K |
| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $68.88 | +7.4% | · | $1,074 | +7.4% |
| 2 months | $63.08 | +17.2% | · | $1,172 | +17.2% |
| 3 months | $71.98 | +2.7% | · | $1,027 | +2.7% |
| 6 months | $92.24 | -19.8% | · | $802 | -19.8% |
| 1 year | $100.14 | -26.2% | · | $739 | -26.2% |
| 2 years | $92.18 | -19.8% | · | $802 | -19.8% |
| 3 years | $73.59 | +0.5% | · | $1,005 | +0.5% |
| 5 years | $65.86 | +12.3% | · | $1,123 | +12.3% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever DSGX does next, these words stay.
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