Screened 2026-09-15 · 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 markdown label.
Titan America SA holds its Markdown at $14.06. Consolidating, no directional conviction, held for 263 days.
As held on the ledger · 2026-09-15
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 263 days
Price at the screen
$14.06
Valuation
14.65 trailing · 11.13 forward price to earnings
Values screen
PASS· score 70.0
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
24.42%
Below 33%
Interest-bearing debt is just 24.4% 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
14.05%
Below 49%
Money owed to the company is 14.0% of assets, under the 49% limit.
Pass
Revenue purity
0.35%
Below 5%
Only 0.3% 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 2026-09-15 screen. The gold marker is the market price at the same screen. A 3.7% margin of safety to the base estimate.
Third-party analyst targets: 7 covering, consensus Hold. The average target sits +32% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
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 2026-09-15 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
Cement Maker Trades Above Fair Value On Paper
Picture the steady flow of concrete into new US roads and homes. Titan America supplies those materials through its cement and aggregates network. The business earns an 11% profit margin and 19% ROE, yet revenue grows just 2% a year and our fair value sits 15% below the current price.
We pass. The forward multiple of 13.4 times looks modest, but this is a classic cyclical industry where peak earnings often flatter the numbers and leave investors holding the bag when construction slows. Analyst targets sit higher yet the consensus remains a hold, and our own valuation already prices in limited upside.
Ethical screens clear without issue. The real concern stays the same: low growth plus economic sensitivity means any apparent bargain can quickly turn into a value trap once volumes fall. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Belgium and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TTAM trades on the NYSE (the company is based in Belgium). 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
2026-09-15Markdown · changed$15.32-4.3%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 4.3% 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 C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 13%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $18.
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 3.6% 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 C, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 13%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $18.
2026-07-18Markup$16.61+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, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 13%. Our forward projection puts the odds of a 10% gain over the next month near 23%. The street (7 analysts) rates it hold, with a mean price target of $18.
2026-07-03Markup$16.61+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$16.61Entry 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.
