Framework Journal · one stock, one dated entry

Recorded 2026-07-19 · Permanent

Beyond Air Inc XAIR

Clears the common standard

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · Beyond Air, Inc., a commercial-stage medical device and biopharmaceutical company, develops the Lungfit platform, a nitric oxide (NO) generator and delivery system platform.

The label
Markup

read at $5.58

Beyond Air Inc holds its Markup at $5.58.

PHINPOOPSC
  • PHPhase · the trend structure carries the Markup label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · passes the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-07-19
PhaseMarkup
Quantitative stateConsolidating, no directional conviction, held for 38 days
Price$5.58
ValuationN/A trailing · -3.36 forward price to earnings
Values screenPASS · score 70.0
Beta0.22

The opportunity · what the numbers say it is worth

Read at
$5.58
N/A P/E · -3.36 fwd
Analyst target (avg)
$160.00
+2767% to current
Target low $40.00Analyst target rangeTarget high $280.00
▲ current $5.58 · | average target

Price history & projections · where it has been, where the models see it going

$302$140$-22TODAY5y agoPROJECTIONAnalyst high$280.00 +73623%Analyst avg$160.00 +42027%

The valuation journey · where the price sits against fair value and the Street

Current
$5.58
you are here
Analyst avg
$160.00
+2767%
Analyst high
$280.00
+4918%

Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.

Revenue growth65.50%
Profit margin0.00%
Debt to equity376.55
Analyst consensusBuy · 2 covering

Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.

The values screen, explained · five checks, plain English

It depends which standard you follow. There are two widely recognised ways to check whether a company is suitable for a Muslim investor, and on this company they disagree. Here is how it did on each:

The common standard · AAOIFI
Used by most halal investing apps
✗ DOES NOT PASS
Our stricter standard · asset-based
The one Titan applies
✓ PASSES

Why the two disagree. They fall out over one thing only: the company’s debt. Our stricter standard measures that debt against what the company owns, and it works out too high to pass. The common standard measures the same debt against what the company is worth on the stock market, where it works out low enough to pass. Every other check, the two agree on. So in practice, most halal apps would treat this as fine to hold, while our stricter view would not — and which line you follow is between you and your scholar.

What these two standards are, and how they differ →

  • Business activity Its core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending. Pass
  • Debt load Interest-bearing debt is of its assets, above the one-third ceiling the screen allows. Against market value it is 586.8%, under the 30% line the market-value standard uses — so that standard clears it. Divergent
  • Interest-bearing cash Interest-bearing cash and securities are of assets, above the one-third limit. Fail
  • Receivables Money owed to the company is of assets, above the 49% limit. Fail
  • Revenue purity of revenue comes from non-compliant sources, over the 5% line. Fail

Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.

The business, in plain words · what the numbers mean

The fundamentals · plain-English read
Forward P/E-3.4x
Revenue growth65.5%
growing very fast
Profit margin0.0%
currently unprofitable
Return on equity-334.1%
not currently earning a positive return on equity
Debt to equity3.77
heavy leverage — higher risk if revenue softens
Current ratio3.80
comfortably covers its short-term bills
Beta0.22
barely tracks the market's swings
Market cap$4M
Employees61

The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.

Plain-English interpretation of our own screen data. Analysis, not advice.

Related securities · others in XAIR's space worth a look

Screened names in the same industry · explore each on its own page.

The trader read · the latest dated commentary

The framework 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. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 90%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $8. Entered 2026-07-18 · Distribution

The dated journal · newest first, never edited

2026-07-18 Distribution $0.37 +0.0% Entry 3

The framework 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. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 90%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (2 analysts) rates it none, with a mean price target of $8.

2026-07-03 Distribution $0.37 +0.0% Entry 2

The framework 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.

2026-07-02 Distribution $0.37 Entry 1

The framework 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.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $0.52 -27.0% · $730 -27.0%
2 months $0.79 -51.8% · $482 -51.8%
3 months $0.81 -53.1% · $469 -53.1%
6 months $1.10 -65.5% · $345 -65.5%
1 year $3.94 -90.4% · $96 -90.4%
2 years $24.60 -98.5% · $15 -98.5%
3 years $117.90 -99.7% · $3 -99.7%
5 years $110.20 -99.7% · $3 -99.7%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever XAIR does next, these words stay.

Beyond Air Inc · XAIR · Markup · $5.58
Recorded 2026-07-19 · before the outcome · scored mechanically

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