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. market "Europe (incl. UK)"、market cap "Large $10–200B"、profit streak "Full 10 yr"で絞り込み：105 match(絞り込みを解除) · 2 ページ中 1 ページ。

#	銘柄	Mkt Cap	Score▼	Baillie	10Y ROE	Profit Streak	Net Debt/Eq	Gross Margin	レポート	FY
1	Hermes International SCA RMS · パリ	$173B	93/100 卓越	52/100	24.9%low 18.8%	10 yr+	Net cash	68%	Hermès International SCA: A 41% Operating Margin Meets 6.1% Constant-Currency Growth, and EUR 1,475 Sits 18-31% Above the Conservative Value2026年9月8日 · Hold	FY2025
2	Deutsche Börse AG DB1 · XETRA	$51B	92/100 卓越	—	18.7%low 16.8%	10 yr+	Net cash	59%	—	FY2025
3	Adyen NV ADYEN · アムステルダム	$30B	91/100 卓越	—	23.4%low 18.3%	10 yr+	Net cash	72%	—	FY2025
4	Orion Oyj B ORNBV · HE	$12B	90/100 卓越	—	33.1%low 24.4%	10 yr+	0.1×	60%	—	FY2025
5	Schindler Ps SCHP · SW	$35B	89/100 卓越	—	21.3%low 14.1%	10 yr+	Net cash	40%	—	FY2025
6	Epiroc AB (publ) EPI-A · ST	$32B	89/100 卓越	43/100	25.3%low 20.4%	10 yr+	0.2×	37%	Epiroc AB: Q2 2026 Equipment Orders Grew 30% Organically While Large Orders Above MSEK 150 Jumped to MSEK 720 From MSEK 230, and Class A at SEK 263.30 Sits Inside the SEK 250-275 Base Range2026年9月10日 · Hold	FY2025
7	EMS-CHEMIE HOLDING AG EMSN · SW	$24B	88/100 卓越	—	29.1%low 25.1%	10 yr+	Net cash	39%	—	FY2025
8	Belimo Holding BEAN · SW	$13B	88/100 卓越	57/100	22.5%low 17.7%	10 yr+	Net cash	44%	Belimo Holding：AI冷却の長い滑走路をすでに織り込んだプレミアムHVACコンパウンダー2026年6月27日 · ウォッチ	FY2025
9	Atlas Copco AB Series A ATCO-A · ST	$105B	87/100 卓越	47/100	30.6%low 22.5%	10 yr+	0.2×	41%	Atlas Copco AB: Q2 2026 Group Orders Grew 26% Organically at a 1.13x Book-to-Bill, and SEK 208.80 Sits 34% Above the SEK 156 Conservative Value2026年9月9日 · Hold	FY2025
10	KONE Oyj KNEBV · HE	$28B	87/100 卓越	46/100	31.8%low 27.3%	10 yr+	Net cash	29%	KONE Oyj: 1.8 Million Units of Recurring Service, and a EUR 29.4bn Bet on Scale2026年8月11日 · Hold	FY2025
11	Geberit AG GEBN · SW	$22B	87/100 卓越	—	38.1%low 28.7%	10 yr+	0.5×	69%	—	FY2025
12	Coloplast A/S COLO-B · CO	$15B	87/100 卓越	—	48.7%low 22.6%	10 yr+	1.3×	68%	—	FY2025
13	Sage Group PLC SGE · LSE	$11B	87/100 卓越	—	24.2%low 15.0%	10 yr+	1.7×	89%	—	FY2025
14	Givaudan SA GIVN · SW	$38B	86/100 卓越	45/100	20.9%low 17.9%	10 yr+	0.8×	42%	Givaudan SA (GIVN.SW) Zen Horizon Research Report2026年6月8日 · Watch	FY2025
15	BE Semiconductor Industries NV BESI · アムステルダム	$24B	86/100 卓越	48/100	35.2%low 19.0%	10 yr+	Net cash	59%	In-Depth Value Analysis of Besi, a Back-End Advanced Packaging Equipment Leader2026年6月4日 · Watch	FY2025
16	Industria de Diseno Textil SA ITX · MC	$183B	85/100 卓越	42/100	23.9%low 7.6%	10 yr+	Net cash	56%	Inditex: A Productivity Compounder Meets Its Valuation Test2026年9月8日 · Hold	FY2026
17	Halma PLC HLMA · LSE	$17B	85/100 卓越	—	16.7%low 14.7%	10 yr+	0.4×	49%	—	FY2026
18	Wolters Kluwer N.V. WKL · アムステルダム	$16B	85/100 卓越	—	39.3%low 18.7%	10 yr+	5.3×	70%	—	FY2025
19	Logitech International S.A. LOGN · SW	$15B	85/100 卓越	—	26.9%low 16.1%	10 yr+	Net cash	40%	—	FY2026
20	Relx PLC REL · LSE	$58B	84/100 卓越	—	54.4%low 43.3%	10 yr+	3.0×	65%	—	FY2025
21	Diageo PLC DGE · LSE	$46B	84/100 卓越	31/100	34.7%low 20.8%	10 yr+	2.0×	61%	Diageo: Cyclical Trough and Structural Erosion Are Both Real, and at 16.435 Pounds the Discount Is Not Yet Wide Enough2026年7月31日 · Hold	FY2025
22	Legrand SA LR · パリ	$37B	84/100 卓越	—	16.0%low 13.9%	10 yr+	0.6×	52%	—	FY2025
23	Sonova H Ag SOON · SW	$17B	84/100 卓越	—	21.5%low 16.3%	10 yr+	0.4×	71%	—	FY2026
24	Euronext N.V. ENX · パリ	$16B	84/100 卓越	—	21.4%low 11.2%	10 yr+	0.4×	76%	—	FY2025
25	Unilever PLC ULVR · LSE	$130B	83/100 卓越	43/100	39.4%low 28.7%	10 yr+	1.6×	43%	Unilever: Q2 Volume Grew 5.5%, the Strongest Quarter in More Than a Decade, but 47.43 Pounds Leaves No Margin of Safety2026年8月3日 · Hold	FY2025
26	Ferguson Plc FERG · LSE	$43B	83/100 卓越	—	30.0%low 22.0%	10 yr+	0.9×	30%	—	FY2025
27	Dassault Systemes SE DSY · パリ	$28B	83/100 卓越	49/100	12.4%low 9.7%	10 yr+	Net cash	84%	Dassault Systèmes: A Zen Horizon Framework Deep-Dive Research Report2026年6月4日 · Watch	FY2025
28	BAE Systems plc BA · LSE	$78B	82/100 卓越	46/100	20.8%low 14.2%	10 yr+	0.5×	41%	BAE Systems: The Portfolio Moat Is Genuine, but at 20.27 GBP the Rerating Has Already Outrun Earnings Growth2026年7月30日 · Hold	FY2025
29	Experian PLC EXPN · LSE	$31B	82/100 卓越	—	27.3%low 20.1%	10 yr+	0.9×	42%	—	FY2026
30	Knorr-Bremse AG KBX · XETRA	$18B	81/100 卓越	—	25.5%low 14.6%	10 yr+	0.4×	49%	—	FY2025
31	Sika AG SIKA · SW	$37B	80/100 卓越	53/100	22.8%low 15.7%	10 yr+	0.7×	45%	Sika AG：循環的なエアポケットにある高品質コンパウンダー2026年6月27日 · ホールド	FY2025
32	Straumann Holding AG STMN · SW	$20B	80/100 卓越	53/100	21.3%low 7.6%	10 yr+	0.1×	74%	Straumann Holding AG：厳しい株価水準にあるデンタル・プラットフォームのリーダー2026年6月27日 · ホールド	FY2025
33	Evolution AB (publ) EVO · ST	$15B	80/100 卓越	—	34.7%low 10.4%	10 yr+	Net cash	100%	—	FY2025
34	Schroders PLC SDR · LSE	$12B	80/100 卓越	—	12.9%low 9.2%	10 yr+	Net cash	77%	—	FY2025
35	Sandvik AB SAND · ST	$48B	79/100 優良	44/100	16.8%low 12.6%	10 yr+	0.3×	40%	Sandvik AB: A Record 22.6% Margin With SEK 550 Million of Tungsten Inside It, and No Margin of Safety at SEK 368.702026年8月21日 · Hold	FY2025
36	VAT Group AG VACN · SW	$23B	79/100 優良	—	25.0%low 13.2%	10 yr+	0.1×	48%	—	FY2025
37	Partners Group Holding AG PGHN · SW	$22B	79/100 優良	—	42.6%low 35.4%	10 yr+	1.0×	71%	—	FY2025
38	Amundi SA AMUN · パリ	$21B	79/100 優良	—	15.3%low 8.3%	10 yr+	Net cash	54%	—	FY2025
39	Rio Tinto PLC RIO · LSE	$148B	78/100 優良	38/100	22.4%low 11.8%	10 yr+	0.2×	61%	Rio Tinto: Copper EBITDA Rose 84% on 1% More Production, and £73.74 Sits Inside a £62–82 Hold Band2026年9月14日 · Hold	FY2025
40	Swisscom AG SCMN · SW	$41B	78/100 優良	37/100	16.8%low 10.4%	10 yr+	0.2×	80%	Swisscom AG: A 4.25% Dividend, a Finite Italian Synergy Bridge, and No Margin of Safety at CHF 6352026年8月20日 · Hold	FY2025
41	Next PLC NXT · LSE	$22B	78/100 優良	43/100	55.5%low 43.4%	10 yr+	1.0×	40%	NEXT plc: 23.9% International Growth, a £16.9 Million Platform, and 19.2 Times Earnings2026年8月30日 · Hold	FY2026
42	Jeronimo Martins SGPS SA JMT · LS	$12B	78/100 優良	42/100	22.6%low 15.5%	10 yr+	—	21%	Jerónimo Martins: EBITDA Up 7.6%, Net Profit Down 3.5%, and No Conservative Margin of Safety2026年8月31日 · Hold	FY2025
43	ABB Ltd ABBN · SW	$183B	77/100 優良	46/100	21.9%low 8.1%	10 yr+	0.2×	33%	ABB Ltd: 58% Electrification Order Growth, and a 19.5x EBITDA Test of Capital Discipline2026年8月11日 · Hold	FY2025
44	Thales S.A. HO · パリ	$55B	77/100 優良	46/100	16.8%low 9.5%	10 yr+	0.2×	25%	Thales: A Genuine Defence-Electronics Quality Compounder, Priced Like the Best Case Is Already Locked In2026年7月7日 · Hold	FY2025
45	Imperial Brands PLC IMB · LSE	$28B	76/100 優良	—	31.7%low 11.9%	10 yr+	1.8×	20%	—	FY2025
46	Beiersdorf Aktiengesellschaft BEI · XETRA	$18B	76/100 優良	—	11.2%low 8.8%	10 yr+	Net cash	58%	—	FY2025
47	Bunzl PLC BNZL · LSE	$11B	76/100 優良	39/100	19.3%low 16.5%	10 yr+	0.8×	20%	Bunzl: 0.4% Underlying Growth, 237 Acquisitions, and 15.6 Times Earnings2026年8月29日 · Hold	FY2025
48	Deutsche Post AG DHL · XETRA	$70B	75/100 優良	38/100	19.6%low 14.0%	10 yr+	0.9×	11%	DHL AG: Express Supplies 60% of H1 Group EBIT on 31% of Revenue and German Mail Volume Falls 15%, but EUR 55.02 Sits 30% Above the EUR 42.2 Conservative Value2026年9月14日 · Hold	FY2025
49	Siemens Healthineers AG SHL · XETRA	$45B	75/100 優良	—	19.1%low 8.3%	10 yr+	0.7×	39%	—	FY2025
50	Coca Cola HBC AG CCH · LSE	$23B	75/100 優良	—	17.5%low 12.0%	10 yr+	0.3×	37%	—	FY2025
51	Intertek Group PLC ITRK · LSE	$11B	75/100 優良	45/100	30.4%low 22.5%	10 yr+	1.2×	32%	インターテック：買収提案を受けるクオリティ・コンパウンダー2026年6月17日 · ホールド	FY2025
52	Orkla ASA ORK · OL	$11B	75/100 優良	35/100	14.3%low 9.8%	10 yr+	0.3×	50%	Orkla: Zero Organic Growth in the Controlled Portfolio, Jotun Operating Profit Up 21%, and a 21% NAV Discount at NOK 97.102026年8月25日 · Hold	FY2025
53	Alfa Laval AB ALFA · ST	$25B	74/100 優良	47/100	15.9%low 11.4%	10 yr+	0.3×	34%	Alfa Laval: A 35% Order Surge, a 2% Profit Increase, and 29 Times Earnings2026年8月27日 · Hold	FY2025
54	SGS SA SGSN · SW	$24B	74/100 優良	44/100	48.5%low 30.6%	10 yr+	3.3×	48%	SGS：フルバリューにある高品質なTICコンパウンダー2026年6月17日 · ホールド	FY2025
55	Skanska AB (publ) SKA-B · ST	$12B	74/100 優良	38/100	15.3%low 8.9%	10 yr+	Net cash	9%	Skanska AB: A Record SEK 297.5bn Backlog Rests on a 4.3% Contractor Margin, and SEK 271.90 Leaves No Conservative Margin of Safety2026年9月5日 · Hold	FY2025
56	Prosus N.V. PRX · アムステルダム	$92B	72/100 優良	46/100	23.9%low 13.0%	10 yr+	0.1×	37%	Prosus N.V.: A 38.4% NAV Discount, a Tencent-Funded Buyback, and No Conservative Margin of Safety2026年8月20日 · Hold	FY2026
57	ACS Actividades de Construccion y Servicios SA ACS · MC	$32B	72/100 優良	44/100	20.8%low 12.0%	10 yr+	0.4×	30%	ACS Equity Research: Construction Scale, AI Infrastructure, and the Cost of a Re-rating2026年8月21日 · Hold	FY2025
58	AB Volvo (publ) VOLV-B · ST	$79B	71/100 優良	—	20.9%low 13.3%	10 yr+	1.0×	24%	—	FY2025
59	UCB SA UCB · BR	$45B	71/100 優良	50/100	10.2%low 3.8%	10 yr+	Net cash	71%	UCB SA: A Specialty-Biopharma Growth Platform That Has Already Re-Rated2026年6月29日 · Hold	FY2025
60	Telenor ASA TEL · OL	$20B	71/100 優良	—	25.4%low 5.6%	10 yr+	1.1×	75%	—	FY2025
61	Genmab A/S GMAB · CO	$18B	71/100 優良	—	18.6%low 13.3%	10 yr+	0.7×	99%	—	FY2025
62	Capgemini SE CAP · パリ	$18B	70/100 優良	—	13.3%low 9.8%	10 yr+	0.6×	26%	—	FY2025
63	Kerry Group KRZ · IR	$14B	70/100 優良	—	12.8%low 9.7%	10 yr+	0.4×	47%	—	FY2025
64	Bureau Veritas SA BVI · パリ	$13B	70/100 優良	47/100	27.2%low 10.1%	10 yr+	1.0×	30%	ビューロベリタス：再加速を織り込む高品質TIC企業2026年6月17日 · ホールド	FY2025
65	EQT AB (publ) EQT · ST	$41B	69/100 優良	—	21.8%low 2.2%	10 yr+	Net cash	62%	—	FY2025
66	Schneider Electric S.E. SU · パリ	$176B	68/100 優良	45/100	12.5%low 8.5%	10 yr+	0.6×	40%	Schneider Electric (SU.PA) Zen Horizon Research Report2026年6月5日 · Watch	FY2025
67	Chocoladefabriken Lindt & Spruengli AG N LISN · SW	$131B	68/100 優良	—	11.8%low 7.0%	10 yr+	0.2×	63%	—	FY2025
68	H & M Hennes & Mauritz AB (publ) HM-B · ST	$30B	68/100 優良	32/100	20.2%low 2.3%	10 yr+	2.4×	52%	H&M: The Margin Repair Is Real, the Growth Engine Is Not, and 23.8x Leaves No Cushion2026年8月20日 · Hold	FY2025
69	Koninklijke KPN NV KPN · アムステルダム	$17B	68/100 優良	—	23.9%low 13.9%	10 yr+	3.2×	61%	—	FY2025
70	Diploma PLC DPLM · LSE	$12B	68/100 優良	—	15.5%low 9.4%	10 yr+	0.4×	34%	—	FY2025
71	Compagnie Financière Richemont SA CFR · SW	$143B	67/100 優良	48/100	9.6%low 1.7%	10 yr+	Net cash	64%	Compagnie Financière Richemont SA: Jewellery Earns EUR 5.04bn of Operating Profit While Watchmakers Earn EUR 107m, and CHF 183.65 Sits 18% Above the Conservative Value2026年9月9日 · Hold	FY2026
72	ASM International NV ASM · アムステルダム	$42B	67/100 優良	45/100	16.8%low 6.7%	10 yr+	Net cash	47%	ASM International Deep Value Investment Analysis2026年6月4日 · Watch	FY2025
73	ASSA ABLOY AB (publ) ASSA-B · ST	$42B	67/100 優良	—	14.4%low 5.3%	10 yr+	0.6×	40%	—	FY2025
74	Hexagon AB (publ) HEXA-B · ST	$25B	67/100 優良	50/100	10.6%low 6.0%	10 yr+	0.3×	64%	Hexagon AB (HEXA-B.ST) Zen Horizon Deep-Dive Research Report2026年6月9日 · Watch	FY2025
75	Essity AB (publ) ESSITY-B · ST	$20B	67/100 優良	—	15.8%low 8.3%	10 yr+	0.3×	29%	—	FY2025
76	Danone SA BN · パリ	$47B	66/100 優良	40/100	11.2%low 5.4%	10 yr+	0.5×	49%	Danone: 55% of Profit in One Category, a Shrinking Chinese Birth Cohort, and Why 17.3x Leaves No Margin of Safety2026年8月20日 · Hold	FY2025
77	Kuehne & Nagel KNIN · SW	$31B	66/100 優良	—	40.7%low 31.8%	10 yr+	1.5×	17%	—	FY2025
78	Boliden AB BOL · ST	$14B	66/100 優良	—	15.8%low 10.8%	10 yr+	0.2×	18%	—	FY2025
79	Akzo Nobel NV AKZA · アムステルダム	$11B	66/100 優良	—	16.4%low 8.1%	10 yr+	0.6×	41%	—	FY2025
80	Air Liquide SA AI · パリ	$117B	64/100 標準	46/100	12.3%low 11.0%	10 yr+	0.4×	59%	Air Liquide (AI.PA) Buffett Framework Deep-Dive Research2026年6月9日 · Watch	FY2025
81	Koninklijke Ahold Delhaize NV AD · アムステルダム	$33B	64/100 標準	—	12.6%low 5.1%	10 yr+	0.0×	27%	—	FY2025
82	Legal & General Group PLC LGEN · LSE	$21B	64/100 標準	—	17.0%low 5.4%	10 yr+	3.5×	97%	—	FY2025
83	Rheinmetall AG RHM · XETRA	$57B	63/100 標準	49/100	13.5%low 0.1%	10 yr+	Net cash	47%	Rheinmetall: Respect Without Urgency for a Re-Rated Defence Prime2026年7月23日 · Hold	FY2025
84	Mowi ASA MOWI · OL	$12B	63/100 標準	42/100	16.5%low 4.3%	10 yr+	0.5×	53%	Mowi ASA: A License-Constrained Salmon Platform at a Fair, Not Forgiving, Price2026年7月2日 · Hold	FY2025
85	JSC National Atomic Company Kazatomprom KAP · IL	$23B	62/100 標準	41/100	25.5%low 11.8%	10 yr+	—	41%	Kazatomprom (KAP.IL) Zen Horizon Deep-Dive Report2026年6月9日 · Watch	FY2025
86	Julius Baer Gruppe AG BAER · SW	$19B	61/100 標準	—	11.8%low 7.4%	10 yr+	Net cash	89%	—	FY2025
87	Compagnie Generale des Etablissements Michelin SCA ML · パリ	$25B	59/100 標準	—	11.7%low 5.0%	10 yr+	0.1×	29%	—	FY2025
88	Eiffage SA FGR · パリ	$13B	59/100 標準	—	13.3%low 7.1%	10 yr+	1.3×	47%	—	FY2025
89	Anheuser Busch Inbev SA NV ABI · BR	$160B	58/100 標準	—	7.0%low 1.7%	10 yr+	0.7×	58%	—	FY2025
90	Saab AB (publ) SAAB-B · ST	$31B	58/100 標準	49/100	9.3%low 5.0%	10 yr+	Net cash	22%	Saab: Europe's Sovereign Defense Franchise Is Real, but the Margin of Safety Is Gone2026年7月10日 · Hold	FY2025
91	Dassault Aviation SA AM · パリ	$25B	58/100 標準	—	12.8%low 6.6%	10 yr+	Net cash	23%	—	FY2025
92	Compagnie de Saint-Gobain S.A. SGO · パリ	$43B	57/100 標準	48/100	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 Value2026年7月29日 · Hold	FY2025
93	Vinci S.A. DG · パリ	$73B	55/100 標準	44/100	14.5%low 5.9%	10 yr+	0.6×	18%	VINCI SA: Concessions Turn EUR 12.22bn of Revenue Into EUR 5.94bn of Operating Income, but ASF, Escota and Cofiroute Revert to the State by 20362026年9月11日 · Hold	FY2025
94	VERBUND AG VER · VI	$22B	55/100 標準	—	13.8%low 6.0%	10 yr+	0.2×	43%	—	FY2025
95	Deutsche Telekom AG DTE · XETRA	$140B	53/100 標準	—	16.8%low 7.0%	10 yr+	2.1×	52%	—	FY2025
96	Endesa SA ELE · MC	$47B	53/100 標準	—	20.1%low 2.2%	10 yr+	1.2×	28%	—	FY2025
97	Tesco PLC TSCO · LSE	$39B	53/100 標準	38/100	9.9%low 5.7%	10 yr+	1.0×	7%	Tesco PLC: A Decade-High Market Share, Bought With Margin, and a 53-Week Year That Flatters Statutory Profit2026年9月2日 · Hold	FY2026
98	Fresnillo PLC FRES · LSE	$23B	50/100 標準	31/100	12.3%low 3.7%	10 yr+	Net cash	35%	Fresnillo: A Genuine Re-Rating, But the Price Already Assumes the Hard Part Is Done2026年7月4日 · Hold	FY2025
99	Eurofins Scientific SE ERF · パリ	$13B	50/100 標準	51/100	10.6%low 6.1%	10 yr+	1.3×	55%	Eurofins Scientific (Eurofins Scientific SE, ERF.PA) — Zen Horizon Report2026年6月8日 · Watch	FY2025
100	Iberdrola S.A. IBE · MC	$149B	45/100 やや弱い	—	9.8%low 7.3%	10 yr+	1.1×	46%	—	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.