Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.08, read 2026-11-03
Ethical passes the values gate
Price81.11 USD
Fair value90.07
Ethical score70.0/100
Value readUndervaluedas of 3 Nov 2026
Our investment reviews on this name
2026-10-11Read Markup69.00+17.6% to today ✓Distribution gives way to Markup first Markup read since August
2026-10-02Read Distribution69.42+16.8% to today Markup gives way to Distribution first Distribution read since July
2026-07-31Read Markup71.40+13.6% to today ✓Distribution gives way to Markup after a 7% rise in 4 weeks
2026-07-02Read Distribution66.69+21.6% 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.
CGI Inc holds its Markup at $81.11. The statistical read favours the sellers, held for 108 days.
As held on the ledger · 2026-11-03
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 108 days
Price at the screen
$81.11
Valuation
13.64 trailing · 11.78 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.19
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
22.19%
Below 33%
Interest-bearing debt is just 22.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.14%
Below 33%
Cash held in interest-bearing accounts and securities is 0.1% of assets, under the one-third limit.
Pass
Receivables
11.31%
Below 49%
Money owed to the company is 11.3% of assets, under the 49% limit.
Pass
Revenue purity
0.28%
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.
The Ethical Read
Why It Clears, in Plain English
CGI clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 22%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when GIB's ethical verdict changes
Today GIB passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 3 Nov 2026: it trades at roughly a 10% discount to our $90.07 fair value, narrow competitive moat, 2.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-03 screen. The gold marker is the market price at the same screen. A 9.9% discount to the base estimate.
Where our models see it going: fair-value estimate $90.07, with a range of $90.07 to $162.22, dated to the 2026-11-03 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
Reliable IT Fixer Lacks Spark for Growth
CGI keeps the back office systems running for firms from Toronto to Sydney, the steady hand that stitches together contracts and code without much fuss. Yet with revenue rising just 3 percent a year, a narrow moat and a forward multiple of 9.9 times, the numbers show a business that earns decent returns on equity of 17 percent but offers little momentum. Analysts already price it at the current level, so the gap to fair value brings no real edge.
We pass because low growth and thin 10 percent margins leave the shares looking fairly valued rather than overlooked. The ethical screen clears but that alone does not create an opportunity when the market already sees the same steady profile.
Risk sits in client budgets that can tighten fast in any slowdown, turning a stable earner into a flat one with little buffer. Analysis, not advice.
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 Trade
GIB trades on the NYSE (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
2026-11-01Markup$80.56-1.7%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 down 1.7% 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 overbought. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
2026-10-25Markup$81.98+9.5%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 9.5% 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 B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
2026-10-18Markup$74.87+8.5%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 8.5% 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 bullish. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
2026-10-11Markup · changed$69.00-0.6%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 0.6% 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 bullish. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
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 down 7.1% 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 bullish. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
2026-08-30Markup$74.76+4.7%Entry 5
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.7% 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 bullish. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
2026-07-31Markup · changed$71.40+7.1%Entry 4
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 7.1% 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 bullish. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
2026-07-18Distribution$66.69+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 bullish. Over the past year the shares are down 38%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (3 analysts) rates it buy, with a mean price target of $73.
2026-07-03Distribution$66.69+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.
2026-07-02Distribution$66.69Entry 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.
