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 · NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Fr…
VERDICT
The label
Markup
read at $17.59
NovoCure Limited holds its Markup at $17.59.
PHPhase · the trend structure carries the Markup 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.
INVESTOR
The investor read · the season, not the day
As held on the ledger · 2026-08-12
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 19 days
Price
$17.59
Valuation
N/A trailing · -21.55 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.98
OPPORTUNITY
The opportunity · what the numbers say it is worth
Read at
$17.59
N/A P/E · -21.55 fwd
Our fair value
$25.00
42% discount
Analyst target (avg)
$25.00
+42% to current
Target low $17.00Analyst target rangeTarget high $52.00
▲ current $17.59 · | average target
Price history & projections · where it has been, where the models see it going
The valuation journey · where the price sits against fair value and the Street
Current
$17.59
you are here
Conservative
$17.00
-3%
Analyst avg
$25.00
+42%
Our fair value
$25.00
+42%
Analyst high
$52.00
+196%
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 · Both our model and the analysts see meaningful upside from here.
Revenue growth
15.60%
Profit margin
-21.25%
Debt to equity
69.04
Analyst consensus
Buy · 7 covering
Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.
SCREEN
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 interest-bearing securities. Because both standards agree on this, it is a clear exclusion, not a borderline case.
Business activityIts core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending.Pass
Debt loadInterest-bearing debt is just 30.9% of its assets, well under the one-third ceiling — it does not run on borrowed money.Pass
Interest-bearing cashInterest-bearing cash and securities are 44.0% of assets, above the one-third limit.Fail
ReceivablesMoney owed to the company is 22.7% of assets, under the 49% limit.Pass
Revenue purityOnly 2.0% 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.
PLAIN
The business, in plain words · what the numbers mean
Electric Fields Promise Cancer Relief Yet Deliver Losses
Picture a medical device using electric fields to disrupt tumour growth across multiple solid cancers. NovoCure has built that technology and posted 12% revenue growth, yet it still posts a 26% negative profit margin and a 50% negative return on equity. The forward earnings multiple sits at minus 15 times, which simply records ongoing cash burn rather than any bargain valuation. We therefore pass despite the 48% margin of safety to our $23.50 fair value and a clean ethical screen.
Analyst consensus leans buy with a $24 median target, but those forecasts sit atop a business that has yet to prove it can convert device sales into sustainable profits. Unknown competitive protection leaves the story exposed to faster or cheaper alternatives in oncology.
Currency swings, reimbursement changes and clinical trial setbacks all sit in plain view. High fixed costs in a loss making operation amplify any revenue hiccup. Analysis, not advice.
Screened names in the same industry · explore each on its own page.
TRADE
Where & how to trade · wherever in the world you are
NVCR trades on Nasdaq (the company is based in Switzerland). 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.
TRADER
The trader read · the latest dated commentary
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 10.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (7 analysts) rates it buy, with a mean price target of $26. Entered 2026-08-07 · Distribution
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 10.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (7 analysts) rates it buy, with a mean price target of $26.
2026-07-18Markup$17.78+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 modest positive risk-adjusted returns. Our composite framework grades it C. Technically it is holding around 33% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 9%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (7 analysts) rates it buy, with a mean price target of $26.
2026-07-03Markup$17.78+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 modest positive risk-adjusted returns.
2026-07-02Markup$17.78Entry 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 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.
RETURNS
What holding actually paid · price plus dividends
If $1,000 had been placed · historical, not a promise
Period
Price then
Price return
Divs per share
$1,000 became
Total return
1 month
$18.10
-7.6%
·
$924
-7.6%
2 months
$10.58
+58.1%
·
$1,581
+58.1%
3 months
$12.01
+39.3%
·
$1,393
+39.3%
6 months
$13.66
+22.5%
·
$1,225
+22.5%
1 year
$18.38
-9.0%
·
$910
-9.0%
2 years
$21.46
-22.0%
·
$780
-22.0%
3 years
$42.76
-60.9%
·
$391
-60.9%
5 years
$216.28
-92.3%
·
$77
-92.3%
Historical returns from market close data. Past performance does not guarantee future results.
SEALED
This entry now belongs to the ledger. Whatever NVCR does next, these words stay.
NovoCure Limited · NVCR · Markup · $17.59
Recorded 2026-08-12 · before the outcome · scored mechanically