Report Archive
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Page 31 of 43 · 1027 reports
46/100
McDonald's: A Long-Term Owner's Perspective
McDonald's is a high-quality franchising and real-estate platform with resilient cash flow. At about $282, the stock trades around 23x trailing earnings and sits in the upper half of a reasonable value range, leaving limited margin of safety. Rating Watch: a durable compounder worth owning for the long term, but not an obvious heavy-buy opportunity today.
46/100
Merck Research from a Long-Term Business Owner's Perspective
Merck is a global innovative pharma leader, with Keytruda accounting for 49% of 2025 revenue. At the current price of $122.41, its FCF yield is only 4.1%, below the 10-year U.S. Treasury yield and offering insufficient margin of safety against the 2028-2029 patent cliff. Research rating Watch: a high-quality business, but the price does not yet compensate enough for the post-Keytruda transition risk.
46/100
Morgan Stanley Deep Value Investment Research Report
Morgan Stanley is a global integrated financial platform with $7.38 trillion in Wealth Management client assets and 21.6% ROTCE in 2025. At the current price of $201.07, the stock is close to the upper end of the bull-case range at 3.9x TBVPS, leaving no obvious margin of safety. Research rating Watch: a high-quality franchise worth tracking, but the current valuation already prices in much of the improvement.
43/100
NextEra Energy: A Long-Term Owner's Perspective
FPL's regulated moat plus NEER's renewables platform still make for a top-tier infrastructure business, but at $88.55 the stock already prices in much of the upside; layered with Dominion merger execution risk, the bid discount is insufficient. Rating: Watch.
35/100
Newmont Through a Long-Term Owner's Lens
The world's flagship gold resource company, with 2025 revenue of $22.67 billion and $7.3 billion in free cash flow amplified by rising gold prices; yet at its core it remains a capital-heavy, deeply cyclical mining company with little pricing power, and today's price already discounts both peak gold prices and a successful-integration narrative. Ideal entry $35-50. Rating Watch: a top-tier gold resource base whose current price prices in the good news, better tracked than bought.
40/100
Pfizer: A Long-Term Business-Owner's Investment Research
Pfizer is a large-cap pharmaceutical company in a recovery phase: 2025 revenue of $62.58 billion and operating cash flow of $11.70 billion, with the core ex-COVID business up 6% and dividend coverage comfortable. The Vyndaqel patent settlement extends exclusivity to 2031, but the Seagen and Metsera capital-allocation bets have yet to prove out. Rating Watch: at $25.85, the stock sits near neutral intrinsic value, with a fair buy range of $18-21.
44/100
P&G Deep-Dive Value Research Report
A global consumer-staples leader whose five categories reach nearly 5 billion consumers, with textbook-quality financials and thick cash flows. At the current $144.44 the stock trades at a 21.1x P/E, and its owner-earnings yield of just 4.7% sits only marginally above the 10-year Treasury, leaving no visible margin of safety. Rating: Watch — a great business at a normal-to-slightly-rich price rather than an obviously cheap one.
45/100
Progressive: A Long-Term Owner's Perspective
A high-quality property-and-casualty compounding machine with strong underwriting discipline, dual-channel distribution, and high-quality float. At 2025's 87.4 combined ratio and roughly 3.64x PB / 10.15x PE, the market has already fully priced in a long continuation of high ROE, so it reads more like a good company than a good buy. Rating Watch: ideal entry $130-155.
45/100
Parker-Hannifin: A Long-Term Owner's Perspective
A platform-type industrial company in motion and control technology, with a fragmented customer base, hundreds of thousands of SKUs, strong cash flow, and low capex intensity. At a current P/E of 31.98x and a conservative owner-earnings yield of about 3.1% that already trails the Treasury yield, the price sits in the low-to-mid range of the optimistic scenario. Rating Watch: a good company at a full price, ideal buy $550-700.
43/100
Prologis: A Long-Term Owner's Perspective
The world's leading logistics real estate REIT: 1.3 billion square feet, $235 billion in AUM, 4.8x leverage, and 2025 AFFO of $4.335 billion. At the current price of $145.90 the stock already sits in the optimistic value band, with an owner earnings yield of just 3.0%, below the 10Y Treasury, leaving an insufficient margin of safety.
46/100
Philip Morris International: In-Depth Value Investment Research
Philip Morris International is a global nicotine company leading the shift to smoke-free products, with smoke-free products contributing 41.5% of 2025 net revenue. At the current price of USD 188.99, its conservative Owner Earnings yield is only 3.7%, below the 10-year U.S. Treasury yield, leaving no obvious margin of safety. Rating Watch: a high-quality compounder, but the current valuation already prices in much of the good news.
43/100
Quanta Services: A Long-Term Owner's Perspective
North America's leading grid and utility infrastructure contractor, benefiting from data centers, electricity load, and manufacturing reshoring; but at roughly 106x PE, 67x P/FCF, and 12x PB, the current price already discounts many years of high growth, a 90%-160% premium to fair value, with an ideal buy-in of $230-320.
44/100
RTX Corporation: A Long-Term Value Study
A global aerospace and defense giant spanning aviation parts/systems, commercial aero-engines, and missiles/air defense, with a Q1 2026 backlog of $271 billion. At $177.01 and a 33.2x P/E, it is a good business at a full-to-rich price: the GTF powdered-metal event is still clearing and the margin of safety is insufficient. Rating Watch: worth respecting, but better to wait for a pullback.
44/100
Charles Schwab: A Long-Term Owner's Perspective
A platform with $12 trillion in client assets and genuine cost advantages. At $86, however, the stock trades at only a slight discount to a relatively neutral intrinsic value, while net interest margin is sensitive to interest rates and client-cash migration. Margin of safety is thin; rating: Watch.
41/100
The Southern Company: A Long-Term Owner's Perspective
The Southeast's leading regulated utility, with 25 consecutive years of dividend increases; new Vogtle nuclear units entering rate base plus data-center load support mid-term growth, but 2026-2030 capital spending of $81 billion and heavy reliance on external financing, while the current PE of 20.8x and PB of 2.96x already embed a defensive-plus-growth premium, with an ideal buy at $60-72.
51/100
S&P Global: A Long-Term Owner's View
An institutionalized intangible-asset earnings machine, with 2025 free cash flow of 5.135 billion dollars and capex at just 1.3% of revenue. At the current price of 417.60 dollars, roughly 26.4x trailing PE, it sits in the middle of its fair-value band, leaving an inadequate margin of safety. Rating Watch: a superb compounder whose quality is already priced in, so buying here means paying for long-term quality rather than buying an obvious bargain.
40/100
Exxon Mobil Deep Value Analysis: A Good Asset, Not a Cheap One
XOM is a standout in the oil and gas industry: real through-cycle resilience, an advantaged Permian/Guyana/LNG asset portfolio, and a 43-year dividend growth streak all hold up; but at $154 a share the price already sits near the upper edge of the model's optimistic range, and the 4.2% conservative owner earnings yield can't even beat the 10-year Treasury.
47/100
Welltower: A Long-Term Owner's Perspective
Welltower is a senior housing and healthcare real estate platform positioned for aging-driven demand. The core issue is valuation: at $216.17 and roughly 34x P/NFFO, the market has already paid for an optimistic long-term scenario, while the failed 2026 say-on-pay vote warrants governance monitoring. Research rating Watch: a high-quality compounder worth following, but current pricing leaves limited margin of safety.
49/100
Visa Inc. Long-Term Business Owner Research
Visa is one of the world's strongest payment networks, with a 60% FY2025 operating margin and $21.5 billion of free cash flow. At the current price of $328.88, P/FCF is about 29x, leaving no obvious margin of safety. Report rating Watch: a rare-quality business that deserves long-term attention, but the current entry point looks more fair-to-slightly-expensive than clearly cheap.
43/100
Union Pacific: A Long-Term Owner's Perspective
An irreplaceable rail network spanning two-thirds of the western United States, of exceptionally high quality; but at $265.88 the stock already sits well above fair value, and with the added uncertainty of the Norfolk Southern acquisition, the offer looks aggressive. Rating: Watch.
43/100
UnitedHealth Group (UNH): A Deep-Dive Value Investing Study
The largest integrated health insurance and PBM platform in the U.S., recovering after a 41% drop in 2025 operating profit; at the current $388.47 the stock sits in the upper part of its fair-value range with no clear margin of safety. Rating: Watch.
50/100
Uber Technologies Deep Value Research
Uber is a global multi-sided platform with 202 million MAPCs and 13.567 billion trips, 2025 revenue of $52.017 billion, adjusted EBITDA of $8.73 billion, and an asset-light model that is now releasing real free cash flow. The core thesis is that Uber has become a better business, but a 6.2% FCF yield versus a 4.57% 10-year U.S. Treasury yield leaves limited risk compensation amid regulatory, AV, and M&A uncertainty. Report rating Watch: a high-quality platform that is better kept on a priority watchlist until the fair buy range of $50 to $60 offers a thicker margin of safety.
47/100
Thermo Fisher: A Long-Term Owner's Perspective
Thermo Fisher Scientific is a full-stack scientific infrastructure platform spanning instruments, consumables, services, CRO, and CDMO capabilities. At $448, with a static P/E of 24.6x and $65.2 billion of goodwill and acquisition-related intangibles, long-term returns depend heavily on acquisition quality and execution. Rating Watch: a high-quality business, but the current price does not offer a clearly sufficient margin of safety.
43/100
TJX: A Long-Term Owner's Perspective
The world's largest off-price discount retailer, with scale-driven sourcing and a negative cash conversion cycle. But at $158 its FCF yield is only 2.8%, and the margin of safety is clearly insufficient. Rating Watch: a good company whose current price already prices in its excellence.