Screen · Berkshire Criteria

Buffett Quality Screen

Buffett's "wonderful business" criteria, quantified into six dimensions: earnings record (20), ROE quality (25 — Fortune's double standard), low leverage (15), pricing power (15), business stability (15) and capital efficiency (10), for a 0–100 total. The entry gate is the first of Berkshire's acquisition criteria — at least $50M average pre-tax earnings over the last three fiscal years (banks and insurers excluded, as leverage is their business model; investment trusts and closed-end funds excluded, as they are portfolios rather than operating companies). Recomputed periodically from each company's last ten fiscal years; cross-listings merged by canonical ticker. Hover the score for the six-dimension breakdown; companies we cover link to their report. Filtered by score tier "Medium", market "Europe (incl. UK)", market cap "Large $10–200B": 30 match(clear filters).

# Ticker Mkt Cap Score 10Y ROE Profit Streak Net Debt/Eq Gross Margin Report FY
1 Air Liquide SA AI · Paris $117B
64/100 Medium
12.3%low 11.0% 10 yr+ 0.4× 59% Air Liquide (AI.PA) Buffett Framework Deep-Dive ResearchJun 9, 2026 · Watch FY2025
2 Koninklijke Ahold Delhaize NV AD · Amsterdam $33B
64/100 Medium
12.6%low 5.1% 10 yr+ 0.0× 27% FY2025
3 Legal & General Group PLC LGEN · LSE $21B
64/100 Medium
17.0%low 5.4% 10 yr+ 3.5× 97% FY2025
4 Rheinmetall AG RHM · XETRA $57B
63/100 Medium
13.5%low 0.1% 10 yr+ Net cash 47% Rheinmetall: Respect Without Urgency for a Re-Rated Defence PrimeJul 23, 2026 · Hold FY2025
5 Mowi ASA MOWI · OL $12B
63/100 Medium
16.5%low 4.3% 10 yr+ 0.5× 53% Mowi ASA: A License-Constrained Salmon Platform at a Fair, Not Forgiving, PriceJul 2, 2026 · Hold FY2025
6 JSC National Atomic Company Kazatomprom KAP · IL $23B
62/100 Medium
25.5%low 11.8% 10 yr+ 41% Kazatomprom (KAP.IL) Zen Horizon Deep-Dive ReportJun 9, 2026 · Watch FY2025
7 Haleon PLC HLN · LSE $41B
61/100 Medium
6.3%low 2.4% 7 yr 0.4× 61% Haleon: Oral Health Supplied Over 90% of First-Half Organic Growth While the Rest of the Portfolio Grew 0.3%, and 3.633 Pounds Leaves No Margin of SafetyAug 1, 2026 · Hold FY2025
8 Julius Baer Gruppe AG BAER · SW $19B
61/100 Medium
11.8%low 7.4% 10 yr+ Net cash 89% FY2025
9 Publicis Groupe SA PUB · Paris $25B
59/100 Medium
10.7%low -8.7% 9 yr 0.1× 36% FY2025
10 Compagnie Generale des Etablissements Michelin SCA ML · Paris $25B
59/100 Medium
11.7%low 5.0% 10 yr+ 0.1× 29% FY2025
11 Eiffage SA FGR · Paris $13B
59/100 Medium
13.3%low 7.1% 10 yr+ 1.3× 47% FY2025
12 Airbus Group SE AIR · Paris $172B
58/100 Medium
18.1%low -22.8% 5 yr Net cash 14% Airbus SE Deep-Dive ResearchJun 15, 2026 · Hold FY2025
13 Anheuser Busch Inbev SA NV ABI · BR $160B
58/100 Medium
7.0%low 1.7% 10 yr+ 0.7× 58% FY2025
14 Saab AB (publ) SAAB-B · ST $31B
58/100 Medium
9.3%low 5.0% 10 yr+ Net cash 22% Saab: Europe's Sovereign Defense Franchise Is Real, but the Margin of Safety Is GoneJul 10, 2026 · Hold FY2025
15 Dassault Aviation SA AM · Paris $25B
58/100 Medium
12.8%low 6.6% 10 yr+ Net cash 23% FY2025
16 GEA GROUP G1A · XETRA $11B
58/100 Medium
10.1%low -8.9% 6 yr Net cash 32% FY2025
17 Airbus SE AIR · XETRA $172B
57/100 Medium
18.0%low -22.2% 5 yr Net cash 14% FY2025
18 Compagnie de Saint-Gobain S.A. SGO · Paris $43B
57/100 Medium
8.7%low 2.2% 10 yr+ 0.4× 26% Saint-Gobain: A Higher Margin Floor Is Proven, but at 74.16 EUR the Price Sits Above the 64 EUR Conservative ValueJul 29, 2026 · Hold FY2025
19 Trelleborg AB (publ) TREL-B · ST $10B
56/100 Medium
12.4%low -0.7% 6 yr 0.2× 34% Trelleborg: A Long-Term Owner's PerspectiveJun 3, 2026 · Watch FY2025
20 Vinci S.A. DG · Paris $73B
55/100 Medium
14.5%low 5.9% 10 yr+ 0.6× 18% FY2025
21 adidas AG ADS · XETRA $30B
55/100 Medium
17.2%low -1.6% 2 yr 0.7× 50% FY2025
22 VERBUND AG VER · VI $22B
55/100 Medium
13.8%low 6.0% 10 yr+ 0.2× 43% FY2025
23 Deutsche Telekom AG DTE · XETRA $140B
53/100 Medium
16.8%low 7.0% 10 yr+ 2.1× 52% FY2025
24 Endesa SA ELE · MC $47B
53/100 Medium
20.1%low 2.2% 10 yr+ 1.2× 28% FY2025
25 Reckitt Benckiser Group PLC RKT · LSE $42B
53/100 Medium
15.1%low -29.6% 4 yr 0.8× 60% FY2025
26 Tesco PLC TSCO · LSE $39B
53/100 Medium
9.9%low 5.7% 10 yr+ 1.0× 7% FY2026
27 Wartsila Oyj Abp WRT1V · HE $19B
52/100 Medium
12.1%low -3.0% 3 yr Net cash 42% FY2025
28 Fresnillo PLC FRES · LSE $23B
50/100 Medium
12.3%low 3.7% 10 yr+ Net cash 35% Fresnillo: A Genuine Re-Rating, But the Price Already Assumes the Hard Part Is DoneJul 4, 2026 · Hold FY2025
29 Eurofins Scientific SE ERF · Paris $13B
50/100 Medium
10.6%low 6.1% 10 yr+ 1.3× 55% Eurofins Scientific (Eurofins Scientific SE, ERF.PA) — Zen Horizon ReportJun 8, 2026 · Watch FY2025
30 Tele2 AB (publ) TEL2-B · ST $12B
50/100 Medium
11.8%low -10.6% 9 yr 1.3× 40% FY2025

Data and methodology: the six dimensions quantify Berkshire's published acquisition criteria and Buffett's shareholder letters (1981/1987/1991/2007 among others). Qualitative tests in the originals (e.g. "simple, understandable business", "management in place") are out of scope, and price ("available at a fair price") is covered by each report's valuation range instead. Financials come from company annual reports (via EODHD); ratios are computed in reporting currency, the USD gate via static FX. "‡" marks companies whose equity is persistently negative or tiny (ROE falls back to ROCE); "†" marks missing gross profit (operating margin used). Investment trusts and closed-end funds are excluded on two tests — name and financial shape (operating margins beyond what an operating company can achieve); REITs and operating asset managers are unaffected. This is a quantitative first pass, not investment advice. When citing this data, please credit Zen Horizon (zh.app). See our methodology for the scoring process.