Report Archive
All Research
Page 30 of 43 · 1027 reports
44/100
McKesson: A Long-Term Owner's Perspective
A U.S. pharmaceutical distribution oligopoly with FY2026 revenue of $403.4 billion. The profit pool is migrating toward higher-quality businesses such as Oncology and RxTS, yet at the current price the margin of safety is thin and CVS accounts for 24% of revenue. Rating Watch: a high-quality business, but not a bargain at today's price.
40/100
Freeport-McMoRan: A Long-Term Owner's Perspective
A leading global copper-gold-molybdenum miner (copper 74% / gold 17% / molybdenum 7%) with scarce but highly concentrated flagship assets at Grasberg, Morenci, and Cerro Verde; the current price already pays up for a restart-plus-long-term-copper-tightness narrative, with the margin of safety unclear.
44/100
Berkshire Hathaway Deep Value Study: A Fair Price for a Great Company
Berkshire remains an extremely high-quality compound-asset platform with very low risk of permanent loss. But at a price near $486, it already sits close to the center of fair value with no obvious margin of safety, better suited to 'small, staged buying' than to backing up the truck. Rating: Hold.
50/100
Salesforce: A Long-Term Owner's View
Salesforce is the global CRM leader, with FY2026 revenue of $41.525 billion, free cash flow of $14.402 billion, subscriptions at 95% of revenue, and cRPO of $35.1 billion. At the current share price of $180.07, the stock trades at roughly 13.5 times conservative owner earnings, within a reasonable value band but without a clear margin of safety. Research rating Watch: a high-quality software platform whose cash-flow durability is evident, but whose current price leaves limited room for execution risk.
42/100
Chevron Corporation: A Value-Investing Deep Dive
A top-tier global integrated energy company with strong asset quality and disciplined capital returns; but the industry is inherently deeply cyclical, and after the Hess acquisition the valuation already sits near the optimistic scenario, so the current $191 price offers no margin of safety. Rating: Watch.
43/100
Deere & Company: A Long-Term Owner's Perspective
A global leader in agricultural and construction machinery, with a five-fold moat of brand + dealers + financing + data; FY2025 net sales of $45.684 billion and R&D of $2.311 billion. At the current share price of $529.24 (~29x P/E), the stock already sits in the optimistic value band, with a clearly insufficient margin of safety.
48/100
Dell Technologies Deep Value Research
A global leader in AI servers and enterprise IT integration, with FY2026 AI-optimized server orders of $64 billion and backlog of $43 billion. At the current price of $295.19, its FCF yield is 4.5%, roughly in line with the risk-free rate, leaving an insufficient margin of safety. Research rating Watch: a strong business benefiting from AI infrastructure demand, but the price already discounts too much optimism.
48/100
Danaher Research from a Long-Term Owner's Perspective
Danaher is a platform spanning bioprocessing, life sciences, and diagnostics, with 2025 revenue of $24.668 billion, free cash flow of roughly $5.29 billion, and recurring revenue at 82%. At the current share price of $172, the stock trades at about 23x FCF, which places it in a fair-value band without enough margin of safety. Rating Watch: a durable compounder worth studying and holding, but better approached after a wider discount emerges.
45/100
Disney: A Long-Term Owner's Perspective
A good asset at a fair price: Disney's IP + sports + experiences composite ecosystem shows real improvement, but at about $103 the market has already largely priced in the buyback recovery, the streaming turnaround, and the leadership transition, leaving a thin margin of safety. Rated Watch.
46/100
Equinix Long-Term Owner's Perspective Research
Equinix is a global neutral data center REIT, with recurring revenue accounting for 94.8% of 2025 revenue and more than 500,000 interconnections. The core thesis is that it is a high-quality platform with real cash-generation capacity, but reported FCF remains pressured by expansionary capital expenditure, the forward AFFO multiple is about 25.3x, the dividend yield is 1.9% and below Treasuries, and the ideal buy range is USD 700-850. Rating Watch: a durable compounder, but the current margin of safety is not obvious.
47/100
In-Depth Value Investment Analysis of Eaton Corporation plc
Eaton Corporation plc is a leading intelligent power management industrial company with dual engines in electrical and aerospace, supported by data-center tailwinds. The core thesis is that 2025 revenue of $27.448 billion, FCF of $3.553 billion, and an FCF yield of only 2.3% leave the current P/FCF of 42.9x near the upper end of the optimistic range, with no margin of safety and a fair buy zone of $210–260. Report rating Watch: a high-quality compounder, but the current price has already prepaid too much of the future.
47/100
GE Aerospace Deep Value Investment Research
GE Aerospace is a global leader in commercial and military aircraft engines, with a vast installed base and excellent long-tail aftermarket cash flow. At the current price of $302.84, the stock has already moved above the upper end of an optimistic scenario, leaving too little margin of safety. Rating Watch: a high-quality compounder, but not an attractive new purchase at today's valuation.
48/100
GE Vernova Deep Value Investment Analysis
GE Vernova is a global power-sector leader spanning gas turbines, nuclear power, wind power, and grid equipment. At the current price of $1,038.74, the stock is well above even the upper end of the optimistic valuation range of 980, while the FCF yield is only 2.3-2.7%, leaving a clearly inadequate margin of safety. Rating Watch: a high-quality power and grid compounder whose current price already discounts too much of a favorable future.
45/100
Goldman Sachs Group Deep Value Investing Analysis
A top-tier global investment bank paired with an asset and wealth management platform, with ROE rising to 15.0% in 2025; at the current price of $996.73 the stock already sits near the top of the optimistic range (2.76x book value), leaving no clear margin of safety. Rating: Watch.
45/100
The Home Depot: A Value Investing Deep Dive
North America's largest home improvement retailer, operating 2,359 stores plus the SRS professional distribution network; the business is understandable, with durable demand and excellent cash-flow quality. At the current price of $313.07 the stock sits at the upper edge of its fair-value range (21.4x PE), and the margin of safety is not obvious. Rating Watch: an excellent, high-quality cash-flow company, but priced merely fairly to slightly rich rather than as a clearly undervalued value stock.
52/100
Interactive Brokers: A Long-Term Owner's View
A global low-cost, cross-border, multi-asset automated brokerage platform; 2025 net revenue of 6.205 billion dollars at a 76.9% pre-tax margin. At roughly 75 dollars per share the stock sits at the upper end of fair value, with no meaningful margin of safety. Rating Watch: an excellent business trading at a full price rather than a clearly undervalued opportunity.
46/100
IBM Long-Term Owner's Perspective Research
IBM is an enterprise technology platform built on solid cash flow from software, consulting, and infrastructure. Its moat is strong in selected areas, but at $253.84 the shares sit near the middle of a fair-value range, while acquisition intensity reduces visibility into per-share value growth. Report rating Watch: a durable cash-flow business worth tracking, but not yet priced with enough margin of safety.
48/100
Johnson & Johnson Deep Value Analysis: A Good Company Is Not Cheap
JNJ is an understandable healthcare leader with a deep moat and stable free cash flow. The core view is that the stock price of $234 is already close to the upper end of the model's optimistic case, while its 3.4% cash return is below the 10-year Treasury yield of 4.57%, so new buyers should wait. Research rating Watch: a high-quality compounder, but the margin of safety is not sufficient at the current price.
44/100
JPMorgan Chase: A Value-Investing Analysis Through a Long-Term Business Owner's Lens
America's leading diversified financial platform, with steadily rising ROTCE and TBVPS. At the current price of $306.38 the stock sits near the upper edge of its fair-value range, where the market already awards a clear quality premium and the margin of safety is not obvious. Rating Watch: an outstanding business, but fairly to slightly richly priced.
47/100
Coca-Cola Deep Value Investment Research
The Coca-Cola Company is the global beverage leader, with a deep moat and real cash flow. At the current price of $81.67, the stock trades above the upper end of reasonable value and near the midpoint of the optimistic range, leaving no obvious margin of safety for balanced, conservative investors. Research rating Watch: an outstanding business, but the price already discounts much of its quality.
55/100
Eli Lilly Deep Value Research: A Great Company at Too High a Price
The tirzepatide platform has put Lilly at the top of the metabolic disease arena, but the $732 share price has already paid in advance for the next-generation pipeline and capacity expansion; a neutral DCF intrinsic value of only $560-680 leaves an insufficient margin of safety, making it better to wait for a pullback. Rating Watch: a great business whose current price gives long-term owners too little room for error.
44/100
Lockheed Martin: A Long-Term Owner's Perspective
The leading U.S. defense prime contractor, with F-35 accounting for 27% of 2025 sales and a year-end backlog of $193.6 billion. 2025 free cash flow was $6.9 billion. At the current $466 share price the stock sits within its fair-value band, but recurring program losses leave a thin margin of safety.
41/100
Lowe's: A Long-Term Owner's Perspective
The number-two U.S. home-improvement retailer, with FY2025 revenue of $86.29 billion, free cash flow of $7.65 billion, and ROIC of 26.1%. At the current price of $215.03, about 15.7x FCF, the stock sits within its fair-value band, but negative equity plus M&A that is reshaping the business boundary leaves the margin of safety unclear. Rating Watch: a good, understandable, cash-generative franchise, not a clearly undervalued bargain.
49/100
Mastercard Deep Value Investment Research
Mastercard is a global leader in two-sided payment networks, with a 60%+ operating margin and powerful network effects. At the current price of $498.54, its conservative FCF yield is only 3.8%, below the 10-year U.S. Treasury yield, leaving no obvious margin of safety. Report Rating Watch: a superior compounder that belongs high on the watchlist, but the current price does not yet offer a compelling conservative entry point.