Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price3.22 QAR
Fair value2.81
Value readOvervaluedas of 2 Nov 2026
Our investment reviews on this name
2026-11-04Read Markup3.22+0.0% to today ✓Markdown gives way to Markup after a 7% rise in 7 days
2026-10-28Read Markdown3.01+6.9% to today Distribution gives way to Markdown first Markdown read since October
2026-10-21Read Distribution3.01+6.9% to today Markdown gives way to Distribution after a 7% slide in 10 days
2026-10-11Read Markdown3.25-0.8% to today ✓Markup gives way to Markdown first Markdown read since September
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.
MEEZA QSTP-LLC (Public) holds its Markup at $3.22. Consolidating, no directional conviction, held for 1 days.
As held on the ledger · 2026-11-02
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 1 days
Price at the screen
$3.22
Valuation
27.62 trailing · 25.32 forward price to earnings
Values screen
PASS
Beta
0.23
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
26.61%
Below 33%
Interest-bearing debt is just 26.6% 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
34.14%
Below 49%
Money owed to the company is 34.1% of assets, under the 49% limit.
Pass
Revenue purity
2.36%
Below 5%
Only 2.4% 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
MEEZA QSTP-LLC (Public) clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 27%, inside the ~33% line, and interest is about 2% of its income, under the ~5% line, so it passes.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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Today MEZA.QA 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 Overvalued vs our fair value, as of 2 Nov 2026: it trades above our 2.81 QAR fair value estimate, moderate competitive moat, 5.60% revenue growth.
Fair value range in QAR, drawn from the 2026-11-02 screen. The gold marker is the market price at the same screen. The price runs 14.6% above the base estimate.
Third-party analyst targets: 2 covering, consensus Strong Buy. The average target sits +21% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Projections
Where our models see it going: fair-value estimate 2.81 QAR, with a range of 2.81 QAR to 3.23 QAR, dated to the 2026-11-02 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
Why it gives us pause
At 25.3x forward earnings, the price already runs ahead of the business. It trades 15% above our 2.81 QAR fair value, so you would be buying at a premium, not a discount. The moderate moat is real, but quality alone does not make an expensive price cheap.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
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 Qatar and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
MEZA.QA trades on DOH (the company is based in Qatar). 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
2026-11-04Markup · changed$3.22+6.9%Entry 10
The framework has shifted from markdown 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 6.9% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good 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 oversold. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-10-28Markdown · changed$3.01+0.0%Entry 9
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-10-21Distribution · changed$3.01-7.2%Entry 8
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.2% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-10-11Markdown · changed$3.25+0.0%Entry 7
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. 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 holding around 4% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-10-02Markup · changed$3.25+7.8%Entry 6
The framework has shifted from markdown 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 7.8% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-09-05Markdown · changed$3.01-8.0%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 8.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-08-05Distribution · changed$3.27-2.5%Entry 4
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 2.5% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-07-18Markup$3.36+0.0%Entry 3
Our analysis reads markup. 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 ethical screening pending. 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 holding around 4% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 10%. Our forward projection puts the odds of a 10% gain over the next month near 10%. The street (2 analysts) rates it strong buy, with a mean price target of $4.
2026-07-03Markup$3.36+0.0%Entry 2
Our analysis reads markup. 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 ethical screening pending. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$3.36Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with ethical screening pending. 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.