Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.43, read 2026-11-01
Ethical does not pass the values gate
Price66.92 USD
Fair value53.80
Ethical score70.0/100
Value readOvervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-10-25Read Markup65.15+2.7% to today ✓Accumulation gives way to Markup first Markup read since October
2026-10-18Read Accumulation63.86+4.8% to today ✓Markup gives way to Accumulation with deal news in the headlines
2026-10-11Read Markup61.24+9.3% to today ✓Markdown gives way to Markup first Markup read since August
2026-09-15Read Markdown61.63+8.6% to today Markup gives way to Markdown
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.
Unilever plc ADR holds its Markup at $66.92. The statistical read favours the buyers, held for 7 days.
As held on the ledger · 2026-11-04
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 7 days
Price at the screen
$66.92
Valuation
13.09 trailing · 16.75 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.47
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
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
39.16%
Below 33%
Interest-bearing debt is 39.2% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
3.67%
Below 33%
Cash held in interest-bearing accounts and securities is 3.7% of assets, under the one-third limit.
Pass
Receivables
12.48%
Below 49%
Money owed to the company is 12.5% of assets, under the 49% limit.
Pass
Revenue purity
0.79%
Below 5%
Only 0.8% 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 Falls Short, in Plain English
Unilever's business is in a permissible area, but its interest-bearing debt is about 39% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Overvalued vs our fair value, as of 4 Nov 2026: it trades above our $53.80 fair value estimate, narrow competitive moat, 0.50% revenue growth.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. The price runs 24.4% above the base estimate.
Third-party analyst targets: 4 covering, consensus Buy. The average target sits +9% 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.
Where our models see it going: fair-value estimate $53.80, with a range of $53.80 to $61.86, dated to the 2026-11-04 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
Why it gives us pause
At 16.8x forward earnings, the price already runs ahead of the business. It trades 20% above our $53.80 fair value, so you would be buying at a premium, not a discount. The narrow moat is real, but quality alone does not make an expensive price cheap.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to United Kingdom and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
UL trades on the NYSE (the company is based in United Kingdom). 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
2026-11-01Markup$65.26+0.2%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 0.2% 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 B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67.
2026-10-25Markup · changed$65.15+2.0%Entry 9
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 2.0% 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 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 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67. Since the last review it its composite score eased.
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 4.3% 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, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67.
2026-10-11Markup · changed$61.24+0.0%Entry 7
The framework has shifted from markdown 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 down 0.0% 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, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67.
2026-10-02Markdown$61.24-0.6%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.6% 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, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67.
2026-09-15Markdown · changed$61.63-3.2%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.2% 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, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67.
2026-08-15Markup · changed$63.66+8.0%Entry 4
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 8.0% 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, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67.
2026-07-18Distribution$58.92+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. 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 C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 15%. Our forward projection puts the odds of a 10% gain over the next month near 7%. The street (4 analysts) rates it none, with a mean price target of $67.
2026-07-03Distribution$58.92+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. 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.
2026-07-02Distribution$58.92Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. 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.
