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. score tier "최상위", market "Europe (incl. UK)", Has report 필터 적용: 22 match(필터 지우기).

#	종목	Mkt Cap	Score▼	Baillie	10Y ROE	Profit Streak	Net Debt/Eq	Gross Margin	리포트	FY
1	AJ Bell plc AJB · LSE	$2.9B	97/100 최상위	49/100	35.9%low 24.8%	10 yr+	Net cash	100%	AJ Bell: Reconstructed FY2025 Client-Cash Interest of £136.5m Nearly Equals £137.8m Group PBT, H1 Revenue Margin Expanded to 33.4 Basis Points Instead of Compressing, and £6.18 Leaves No Margin of Safety2026년 8월 16일 · Hold	FY2025
2	Games Workshop Group PLC GAW · LSE	$8.0B	94/100 최상위	42/100	57.4%low 48.6%	10 yr+	Net cash	70%	Games Workshop: An Exceptional Warhammer Compounder, Priced for Continued Excellence2026년 6월 26일 · Hold	FY2026
3	Hermes International SCA RMS · 파리	$173B	93/100 최상위	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 Value2026년 9월 8일 · Hold	FY2025
4	Roche Holding AG ROG · SW	$326B	92/100 최상위	36/100	39.6%low 26.1%	10 yr+	0.5×	72%	Roche Zen Horizon Framework Deep Dive: A Diagnostics and Pharma Giant Past the Patent Cliff, with a Fair Price and Debated Growth2026년 6월 5일 · Hold	FY2025
5	Epiroc AB (publ) EPI-A · ST	$32B	89/100 최상위	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 Range2026년 9월 10일 · Hold	FY2025
6	LOréal S.A. OR · 파리	$222B	88/100 최상위	46/100	16.5%low 12.3%	10 yr+	0.1×	73%	L’Oréal: Record First-Half Margins and a Broad-Based Recovery, but 30 Times Earnings Already Prices In the China and Gucci Upside2026년 8월 5일 · Hold	FY2025
7	Novo Nordisk A/S NOVO-B · CO	$210B	88/100 최상위	52/100	59.3%low 52.8%	10 yr+	0.5×	84%	Novo Nordisk: A Long-Term Owner's Perspective2026년 5월 17일 · Watch	FY2025
8	Belimo Holding BEAN · SW	$13B	88/100 최상위	57/100	22.5%low 17.7%	10 yr+	Net cash	44%	Belimo Holding: AI 냉각의 긴 활주로를 이미 가격에 반영한 프리미엄 HVAC 컴파운더2026년 6월 27일 · 관찰	FY2025
9	Atlas Copco AB Series A ATCO-A · ST	$105B	87/100 최상위	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 Value2026년 9월 9일 · Hold	FY2025
10	KONE Oyj KNEBV · HE	$28B	87/100 최상위	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 Scale2026년 8월 11일 · Hold	FY2025
11	Givaudan SA GIVN · SW	$38B	86/100 최상위	45/100	20.9%low 17.9%	10 yr+	0.8×	42%	Givaudan SA (GIVN.SW) Zen Horizon Research Report2026년 6월 8일 · Watch	FY2025
12	BE Semiconductor Industries NV BESI · 암스테르담	$24B	86/100 최상위	48/100	35.2%low 19.0%	10 yr+	Net cash	59%	In-Depth Value Analysis of Besi, a Back-End Advanced Packaging Equipment Leader2026년 6월 4일 · Watch	FY2025
13	Industria de Diseno Textil SA ITX · MC	$183B	85/100 최상위	42/100	23.9%low 7.6%	10 yr+	Net cash	56%	Inditex: A Productivity Compounder Meets Its Valuation Test2026년 9월 8일 · Hold	FY2026
14	Diageo PLC DGE · LSE	$46B	84/100 최상위	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 Enough2026년 7월 31일 · Hold	FY2025
15	LVMH Moët Hennessy - Louis Vuitton MC · 파리	$253B	83/100 최상위	44/100	19.2%low 12.1%	10 yr+	0.3×	67%	LVMH Moet Hennessy Louis Vuitton SE: Fashion & Leather Goods Supplies 71% of H1 2026 Recurring Operating Profit, and EUR 426.55 Sits 33% Above the EUR 320 Conservative Value2026년 9월 9일 · Hold	FY2025
16	Unilever PLC ULVR · LSE	$130B	83/100 최상위	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 Safety2026년 8월 3일 · Hold	FY2025
17	Dassault Systemes SE DSY · 파리	$28B	83/100 최상위	49/100	12.4%low 9.7%	10 yr+	Net cash	84%	Dassault Systèmes: A Zen Horizon Framework Deep-Dive Research Report2026년 6월 4일 · Watch	FY2025
18	BAE Systems plc BA · LSE	$78B	82/100 최상위	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 Growth2026년 7월 30일 · Hold	FY2025
19	Andritz AG ANDR · VI	$8.6B	81/100 최상위	45/100	19.2%low 10.6%	10 yr+	—	49%	ANDRITZ: Service Reached 46% of Revenue, but the Record Backlog Is Hydro-Heavy and Margin-Dilutive2026년 8월 19일 · Hold	FY2025
20	Nestle S.A. NESN · SW	$265B	80/100 최상위	37/100	23.7%low 11.7%	10 yr+	1.6×	48%	Nestlé S.A.: A Narrow RIG Recovery Behind a 15-16x Operating Multiple Once L'Oréal's CHF 35bn Is Stripped Out, and CHF 78.31 Leaves No Conservative Margin of Safety2026년 9월 5일 · Hold	FY2025
21	Sika AG SIKA · SW	$37B	80/100 최상위	53/100	22.8%low 15.7%	10 yr+	0.7×	45%	Sika AG：순환적 에어포켓 속 고품질 컴파운더2026년 6월 27일 · 보유	FY2025
22	Straumann Holding AG STMN · SW	$20B	80/100 최상위	53/100	21.3%low 7.6%	10 yr+	0.1×	74%	Straumann Holding AG: 부담스러운 가격의 덴탈 플랫폼 리더2026년 6월 27일 · 보유	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.