Framework Journal · one stock, one dated entry

Recorded 2026-06-14 · Permanent

MDxHealth SA MDXH

Outside both standards

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · MDxHealth SA, a commercial-stage precision diagnostics company, provides urologic solutions in the United States, Europe, and internationally.

The label
Distribution

read at $0.54

MDxHealth SA holds its Distribution at $0.54.

PHINPOOPSC
  • PHPhase · the trend structure carries the Distribution label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · does not pass the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-06-14
PhaseDistribution · caution
Quantitative stateConsolidating, no directional conviction, held for 7 days
Price$0.54
ValuationN/A trailing · -1.43 forward price to earnings
Values screenFAIL · score 70.0
Beta-506,982.72

The opportunity · what the numbers say it is worth

Our framework reads AVOID — 12.70% revenue growth.

Read at
$0.54
N/A P/E · -1.43 fwd
Analyst target (avg)
$3.00
+453% to current
Target low $1.00Analyst target rangeTarget high $5.00
▲ current $0.54 · | average target

Price history & projections · where it has been, where the models see it going

$5.4$2.8$0.2TODAY3y agoPROJECTIONAnalyst high$5.00 +816%Analyst avg$3.00 +449%

The valuation journey · where the price sits against fair value and the Street

Current
$0.54
you are here
Analyst avg
$3.00
+453%
Analyst high
$5.00
+822%

Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.

Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish — a quality-at-a-fair-price name rather than a deep-value one.

Revenue growth12.70%
Profit margin-29.90%
Analyst consensusBuy · 5 covering

Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.

The values screen, explained · five checks, plain English

This company is excluded by both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. It fails on both:

The common standard · AAOIFI
Used by most halal investing apps
✗ DOES NOT PASS
Our stricter standard · asset-based
The one Titan applies
✗ DOES NOT PASS

Why it fails. The problem is its debt ratio. Because both standards agree on this, it is a clear exclusion, not a borderline case.

What these two standards are, and how they differ →

  • Business activity Its core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending. Pass
  • Debt load Interest-bearing debt is 86.5% of its assets, above the one-third ceiling the screen allows. Fail
  • Interest-bearing cash Cash held in interest-bearing accounts and securities is 29.1% of assets, under the one-third limit. Pass
  • Receivables Money owed to the company is 0.0% of assets, under the 49% limit. Pass
  • Revenue purity Only 0.0% of revenue comes from non-compliant sources — under the 5% line. Pass

Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.

The business, in plain words · what the numbers mean

Why it gives us pause

At -1.4x forward earnings, the price already runs ahead of the business.

The fundamentals · plain-English read
Forward P/E-1.4x
Revenue growth12.7%
steady growth
Profit margin-29.9%
currently unprofitable
Current ratio1.63
healthy short-term liquidity
Beta-506,982.72
barely tracks the market's swings
Market cap$28M
Employees364

The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Belgium and to currency swings.

Plain-English interpretation of our own screen data. Analysis, not advice.

Where & how to trade · wherever in the world you are

MDXH trades on Nasdaq (the company is based in Belgium). As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.

The trader read · the latest dated commentary

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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are down 75%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $4. Entered 2026-07-18 · Distribution

The dated journal · newest first, never edited

2026-07-18 Distribution $0.54 +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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is momentum reading oversold. Over the past year the shares are down 75%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (5 analysts) rates it strong buy, with a mean price target of $4.

2026-07-03 Distribution $0.54 +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: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.

2026-07-02 Distribution $0.54 Entry 1

The framework reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. 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.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $1.99 -72.6% · $274 -72.6%
2 months $2.04 -73.2% · $268 -73.2%
3 months $3.25 -83.2% · $168 -83.2%
6 months $3.39 -83.9% · $161 -83.9%
1 year $2.16 -74.7% · $253 -74.7%
2 years $2.80 -80.5% · $195 -80.5%
3 years $3.92 -86.1% · $139 -86.1%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever MDXH does next, these words stay.

MDxHealth SA · MDXH · Distribution · $0.54
Recorded 2026-06-14 · before the outcome · scored mechanically

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