Positioning no disclosures inside 60 days, left as found
Options put/call open interest 3.00, read 2026-10-24
Ethical does not pass the values gate
Price40.54 USD
Fair value51.34
Ethical score70.0/100
Our investment reviews on this name
2026-09-16Read Markdown45.86-11.6% to today ✓Accumulation gives way to Markdown with volume flow in agreement
2026-08-16Read Accumulation45.93-11.7% to today Distribution gives way to Accumulation
2026-07-02Read Distribution43.96-7.8% to today ✓First review on file: Distribution
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.
Bristow Group Inc. holds its Markdown at $40.54. Consolidating, no directional conviction, held for 97 days.
As held on the ledger · 2026-10-23
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 97 days
Price at the screen
$40.54
Valuation
10.96 trailing · 7.23 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.24
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
39.50%
Below 33%
Interest-bearing debt is 39.5% of its assets, above the one-third ceiling the screen allows.
Fail
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
21.78%
Below 49%
Money owed to the company is 21.8% of assets, under the 49% limit.
Pass
Revenue purity
0.63%
Below 5%
Only 0.6% 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
Bristow's business is in a permissible area, but its interest-bearing debt is about 40% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 35.0% margin of safety to the base estimate.
Third-party analyst targets: 3 covering, consensus Strong Buy. The average target sits +65% 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 2026-10-23 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
Offshore helicopters look cheap but cycle traps await
Picture a helicopter crew ferrying workers to North Sea rigs. One week the oil price is high and every seat is booked. The next week rigs shut down and the fleet sits idle. Bristow sits right in that swing. The shares trade at 8.4 times forward earnings with an 11 percent revenue rise and an 8 percent profit margin, yet the opportunity rating stays at none because those earnings sit at the top of an oil-services cycle.
The business runs vertical flights for energy firms and governments across five countries, delivering 12 percent return on equity. Analysts see a $60 median target against the current $44.17 price, and the ethical screen clears without issue. Still the low multiple does not signal value. In cyclical equipment and services, a depressed P/E often marks peak earnings rather than a bargain entry point.
Currency moves, contract renewals and sudden drops in offshore activity can wipe out the apparent margin of safety fast. Revenue is growing but remains hostage to energy spending that rises and falls with commodity prices. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
VTOL 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 Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Markdown$38.03+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. 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 momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Markdown$38.03+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. 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 momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Markdown$38.03-3.3%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.3% 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 momentum reading oversold. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62. Insiders have been net sellers over the past quarter.
2026-10-18Markdown$39.34-5.7%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.7% 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 D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62. Insiders have been net sellers over the past quarter.
2026-10-02Markdown$41.73-9.0%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 9.0% 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 D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62. Insiders have been net sellers over the past quarter. Since the last review it its composite score rose.
2026-09-16Markdown · changed$45.86-0.2%Entry 5
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 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 D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.5% 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 D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62.
2026-07-18Distribution$43.96+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 modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 2% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 33%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (3 analysts) rates it strong buy, with a mean price target of $62.
2026-07-03Distribution$43.96+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 modest positive risk-adjusted returns.
2026-07-02Distribution$43.96Entry 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 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.
