Screened 2026-09-02 · the tape above runs as of 13:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its distribution label.
Reliance Inc holds its Distribution at $400.21. The statistical read favours the buyers, held for 10 days.
As held on the ledger · 2026-09-02
Phase
Distribution · caution
Quantitative state
The statistical read favours the buyers, held for 10 days
Price at the screen
$400.21
Valuation
23.27 trailing · 17.29 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.97
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
16.77%
Below 33%
Interest-bearing debt is just 16.8% 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
16.93%
Below 49%
Money owed to the company is 16.9% of assets, under the 49% limit.
Pass
Revenue purity
0.03%
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 2026-09-02 screen. The gold marker is the market price at the same screen. The price runs 24.5% above the base estimate.
Third-party analyst targets: 8 covering, consensus Hold. The average target sits +2% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
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 2026-09-02 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
Steel service centre priced for the boom
Picture a metals yard in Ohio where order books fill fast one quarter and sit empty the next. Reliance moves alloy, stainless and carbon steel across North America, yet the shares at 396 dollars sit well above our 280 dollar fair value with a negative margin of safety. Revenue growth of 16 percent and a narrow moat look respectable on the surface, yet an 18.6 times forward multiple and 5 percent profit margins leave little room for the next downturn.
We pass. The business clears the ethical screen and eight analysts sit on a hold rating with a 380 dollar median target, but the cyclical steel trade rarely rewards investors who pay up at peak earnings. ROE of 11 percent and thin margins already signal limited pricing power once demand normalises.
The real risk sits in the cycle itself. When construction and manufacturing slow, inventory losses and falling volumes hit quickly, turning a seemingly reasonable multiple into a value trap. 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
RS trades on the NYSE. 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 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 3.4% 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 A, carrying a low risk profile. Technically it is holding around 29% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (7 analysts) rates it hold, with a mean price target of $372.
2026-08-11Markup · changed$414.33+0.2%Entry 4
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 0.2% 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 29% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (7 analysts) rates it hold, with a mean price target of $372.
2026-07-18Accumulation$413.43+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. 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 29% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 29%. Our forward projection puts the odds of a 10% gain over the next month near 20%. The street (7 analysts) rates it hold, with a mean price target of $372.
2026-07-03Accumulation$413.43+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$413.43Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
