Screened 2026-08-26 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its markdown label.
National Energy Services Reunited Corp. holds its Markdown at $33.64. The statistical read favours the sellers, held for 11 days.
As held on the ledger · 2026-08-26
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 11 days
Price at the screen
$33.64
Valuation
36.57 trailing · 12.17 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.36
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
17.91%
Below 33%
Interest-bearing debt is just 17.9% 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
16.36%
Below 49%
Money owed to the company is 16.4% 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 2026-08-26 screen. The gold marker is the market price at the same screen. The price runs 4.3% above the base estimate.
Third-party analyst targets: 7 covering, consensus Buy. The average target sits +22% 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.
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 2026-08-26 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
Oilfield work in the Gulf rarely stays steady
Picture a crew waiting on the next rig contract while crude prices swing. NESR delivers fracturing and coiled tubing across the Middle East and North Africa, yet its 5 percent profit margin and 7 percent return on equity show little pricing power once the cycle turns. Revenue grew 34 percent lately, but the forward multiple of 11.2 times already prices in peak earnings that seldom last in this line of work.
We pass. The shares sit above our fair value with a negative margin of safety, and the low multiple is the classic warning sign of a cyclical value trap rather than a bargain. Strong top-line growth cannot mask thin returns or an unknown moat when the next downturn arrives.
Oil prices, regional spending cuts and customer concentration remain the real drivers. The ethical screen clears, yet the numbers still point to avoid. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
NESR trades on Nasdaq. 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
2026-09-06Markup · changed$33.64+20.2%Entry 5
The framework has shifted from accumulation 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 20.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 5.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-07-18Markup$26.50+0.0%Entry 3
The framework 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 passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 40%. The street (7 analysts) rates it buy, with a mean price target of $32.
2026-07-03Markup$26.50+0.0%Entry 2
The framework 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 passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markup$26.50Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
