Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.30, read 2026-11-01
Ethical passes the values gate
Price224.12 USD
Fair value200.50
Ethical score70.0/100
Our investment reviews on this name
2026-10-11Read Markup199.93+12.1% to today ✓Distribution gives way to Markup after a 6% rise in 4 weeks
2026-09-10Read Distribution188.59+18.8% to today Markup gives way to Distribution after a 70% rise in 10 weeks
2026-07-02Read Markup111.24+101.5% to today ✓First review on file: Markup
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.
Qualys, Inc. holds its Markup at $224.12. Consolidating, no directional conviction, held for 14 days.
As held on the ledger · 2026-10-30
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 14 days
Price at the screen
$224.12
Valuation
36.08 trailing · 24.63 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.60
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
4.77%
Below 33%
Interest-bearing debt is just 4.8% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
14.94%
Below 33%
Cash held in interest-bearing accounts and securities is 14.9% of assets, under the one-third limit.
Pass
Receivables
38.47%
Below 49%
Money owed to the company is 38.5% of assets, under the 49% limit.
Pass
Revenue purity
3.77%
Below 5%
Only 3.8% 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
Qualys, clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 5%, inside the ~33% line, and interest is about 4% of its income, under the ~5% line, so it passes.
Read as at 2026-11-01. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when QLYS's ethical verdict changes
Today QLYS 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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Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. The price runs 10.5% above the base estimate.
Where our models see it going: fair-value estimate $200.50, with a range of $164.80 to $274.67, dated to the 2026-10-30 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
Cloud security tool trading above its targets
Picture a firm whose software quietly checks the digital locks on networks for banks, retailers and governments every hour of the day. Qualys runs that service from the cloud, yet the shares sit above our fair value at a 2 percent premium and 18 analysts carry a median target well below the current price.
The business posts a solid 29 percent profit margin and 38 percent return on equity, with revenue rising 10 percent a year. Those numbers look respectable on a 19.3 times forward earnings multiple, but the lack of any margin of safety and the hold consensus from the street leave no real opportunity on the table right now.
Valuation sits at the heart of the concern, because even strong returns can fade if growth stays modest and cheaper rivals keep taking ground. The ethical screen clears without issue. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
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
QLYS 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
2026-11-02Markup$224.12+0.0%Entry 11
The 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 passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 64% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Markup$224.12+7.6%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 up 7.6% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 64% above its long-term trend line with momentum reading bullish. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107.
2026-10-25Markup$208.20+8.1%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 8.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it A, carrying a low risk profile. Technically it is holding around 39% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107. Since the last review it dropped out of the Tech 100.
2026-10-18Markup$192.65-3.6%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 down 3.6% 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 B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107.
2026-10-11Markup · changed$199.93+10.4%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 up 10.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good 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 neutral. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107. Since the last review it dropped out of the Tech 100; its composite score eased.
2026-10-02Distribution$181.03-4.0%Entry 6
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 4.0% 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 B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107.
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 up 18.3% 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 neutral. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107.
2026-08-09Markup$159.43+43.3%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 43.3% 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 neutral. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107.
2026-07-18Markup$111.24+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 passing ethical screen. The risk-adjusted return profile shows negative 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 neutral. Over the past year the shares are down 22%. Our forward projection puts the odds of a 10% gain over the next month near 19%. The street (19 analysts) rates it none, with a mean price target of $107.
2026-07-03Markup$111.24+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 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.
