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 cap "Mega ≥$200B", profit streak "Full 10 yr" 필터 적용: 50 match(필터 지우기).

#	종목	Mkt Cap	Score▼	Baillie	10Y ROE	Profit Streak	Net Debt/Eq	Gross Margin	리포트	FY
1	Visa Inc. Class A V · 미국	$684B	95/100 최상위	49/100	35.7%low 18.2%	10 yr+	0.1×	81%	Visa Inc. Long-Term Business Owner Research2026년 5월 25일 · Watch	FY2025
2	KLA Corporation KLAC · 미국	$239B	93/100 최상위	52/100	55.9%low 44.2%	10 yr+	0.2×	61%	KLA Corporation: A Deep Value Investment Analysis2026년 5월 22일 · Watch	FY2026
3	Kweichow Moutai Co Ltd 600519 · 상하이	$236B	93/100 최상위	48/100	30.8%low 22.9%	10 yr+	Net cash	90%	Kweichow Moutai: A Long-Term Business Owner's Perspective2026년 5월 21일 · Watch	FY2025
4	ASML Holding NV ADR ASML · 미국	$626B	92/100 최상위	55/100	36.5%low 15.9%	10 yr+	Net cash	49%	ASML Holding N.V.: A €43–45bn Guidance Reset, 38x Forward Earnings, and No Conservative Margin of Safety2026년 8월 11일 · Hold	FY2025
5	Applied Materials Inc AMAT · 미국	$403B	92/100 최상위	48/100	38.9%low 23.8%	10 yr+	Net cash	46%	Applied Materials Deep Value Investment Research2026년 5월 21일 · Watch	FY2025
6	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
7	Microsoft Corporation MSFT · 미국	$3.5T	91/100 최상위	67/100	34.6%low 20.0%	10 yr+	0.1×	68%	Microsoft: Azure Demand Is Real and the Moat Is Intact, but 393 USD Already Prices a Clean Conversion of the 190 Billion USD Capex Wave2026년 7월 29일 · Hold	FY2026
8	Lam Research Corp LRCX · 미국	$367B	90/100 최상위	49/100	48.3%low 24.3%	10 yr+	Net cash	47%	Lam Research from a Long-Term Business Owner's Perspective2026년 5월 22일 · Watch	FY2026
9	American Express Company AXP · 미국	$227B	89/100 최상위	46/100	27.8%low 13.6%	10 yr+	0.3×	87%	American Express Closed-Loop Payments Platform Research2026년 5월 23일 · Watch	FY2025
10	Arista Networks ANET · 미국	$227B	88/100 최상위	56/100	24.1%low 15.3%	10 yr+	Net cash	64%	Arista Networks: 데이터센터 스위칭 선도 기업에 대한 장기 연구2026년 5월 23일 · 관찰	FY2025
11	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
12	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
13	Cisco Systems Inc CSCO · 미국	$457B	87/100 최상위	45/100	22.4%low 0.3%	10 yr+	0.3×	63%	Cisco Systems: A Value-Investing Deep Dive2026년 5월 22일 · Watch	FY2025
14	Costco Wholesale Corp COST · 미국	$422B	87/100 최상위	45/100	25.4%low 19.5%	10 yr+	Net cash	13%	Costco: A Deep-Dive Value Investing Analysis2026년 5월 21일 · Watch	FY2025
15	Mastercard Inc MA · 미국	$502B	86/100 최상위	49/100	60.0%low 60.0%	10 yr+	1.0×	77%	Mastercard Deep Value Investment Research2026년 5월 25일 · Watch	FY2025
16	Alphabet Inc Class C GOOG · 미국	$4.4T	85/100 최상위	65/100	21.7%low 8.3%	10 yr+	Net cash	57%	Alphabet: Search and Cloud Are Both Accelerating, but a 200 Billion Dollar Build Has Turned Free Cash Flow Negative and 333.68 Dollars Already Prices In the Base Case2026년 7월 31일 · Hold	FY2025
17	Meta Platforms Inc. META · 미국	$1.4T	84/100 최상위	56/100	24.3%low 17.3%	10 yr+	0.0×	82%	Meta Platforms: Revenue Grew 28% While Free Cash Flow Fell to 784 Million Dollars, and 556.71 Dollars Buys the Base Case With No Margin of Safety2026년 8월 1일 · Hold	FY2025
18	UnitedHealth Group Incorporated UNH · 미국	$376B	84/100 최상위	43/100	21.4%low 12.8%	10 yr+	0.5×	23%	UnitedHealth Group (UNH): A Deep-Dive Value Investing Study2026년 5월 25일 · Watch	FY2025
19	Procter & Gamble Company PG · 미국	$335B	84/100 최상위	44/100	26.6%low 8.3%	10 yr+	0.4×	50%	P&G Deep-Dive Value Research Report2026년 5월 25일 · Watch	FY2026
20	Apple Inc. AAPL · 미국	$4.5T	83/100 최상위	43/100	54.7%low 35.6%	10 yr+	0.8×	41%	Apple Inc.: Strip Out the Tariff Refunds and the 50.1% Margin Becomes 48.1%, While 308.91 Dollars Earns Less Than the Ten-Year Treasury2026년 8월 1일 · Hold	FY2025
21	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
22	Taiwan Semiconductor Manufacturing TSM · 미국	$2.1T	82/100 최상위	57/100	26.3%low 21.8%	10 yr+	Net cash	53%	TSMC: Earnings Have Outrun the Share Price to a 28.1x Trailing Multiple, but a Limit-Up Close at NT$2,425 Leaves Only a Limited Margin of Safety2026년 7월 31일 · Hold	FY2025
23	Johnson & Johnson JNJ · 미국	$618B	82/100 최상위	48/100	25.5%low 2.2%	10 yr+	0.3×	69%	Johnson & Johnson Deep Value Analysis: A Good Company Is Not Cheap2026년 5월 25일 · Watch	FY2025
24	Tencent Holdings Ltd 0700 · 홍콩	$548B	82/100 최상위	53/100	21.1%low 13.2%	10 yr+	Net cash	48%	Tencent Holdings: A 12.8% Re-Rating on an Unconfirmed WeChat Agent, While Q1 Disclosed RMB8.8 Billion of AI Drag2026년 8월 9일 · Hold	FY2025
25	Texas Instruments Incorporated TXN · 미국	$252B	82/100 최상위	49/100	46.2%low 28.4%	10 yr+	0.6×	63%	Texas Instruments Analog and Embedded Processors Research2026년 5월 23일 · Watch	FY2025
26	NVIDIA Corporation NVDA · 미국	$4.9T	81/100 최상위	66/100	39.9%low 19.8%	10 yr+	Net cash	64%	NVIDIA: Demand Has Broadened Beyond the Hyperscalers, but Its Funding Base Has Not, and 197 USD Already Prices Continued Excellence2026년 7월 29일 · Hold	FY2026
27	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
28	The Coca-Cola Company KO · 미국	$377B	79/100 우수	47/100	36.8%low 7.3%	10 yr+	1.0×	61%	Coca-Cola Deep Value Investment Research2026년 5월 25일 · Watch	FY2025
29	The Home Depot Inc HD · 미국	$337B	78/100 우수	45/100	60.0%low 60.0%	10 yr+	5.0×	34%	The Home Depot: A Value Investing Deep Dive2026년 5월 25일 · Watch	FY2026
30	Novartis AG NOVN · SW	$306B	78/100 우수	46/100	20.9%low 9.0%	10 yr+	0.6×	71%	Novartis (NVS) Zen Horizon Research Report2026년 6월 8일 · Hold	FY2025
31	SAP SE ADR SAP · 미국	$231B	77/100 우수	45/100	12.6%low 5.7%	10 yr+	Net cash	71%	SAP: A High-Quality Incumbent Late in Its Cloud Migration, Now Priced for Proof Rather Than Possibility2026년 6월 26일 · Hold	FY2025
32	Philip Morris International Inc PM · 미국	$297B	76/100 우수	46/100	49.2%^‡low 24.0%	10 yr+	—	60%	Philip Morris International: In-Depth Value Investment Research2026년 5월 25일 · Watch	FY2025
33	Netflix Inc NFLX · 미국	$299B	74/100 우수	51/100	25.2%low 7.0%	10 yr+	0.2×	40%	Netflix: A Long-Term Business Owner's Perspective2026년 5월 22일 · Watch	FY2025
34	AbbVie Inc ABBV · 미국	$443B	73/100 우수	45/100	54.6%low 35.2%	10 yr+	—	71%	AbbVie: In-Depth Research from a Long-Term Business Owner's Perspective2026년 5월 21일 · Watch	FY2025
35	Merck & Company Inc MRK · 미국	$307B	71/100 우수	46/100	24.4%low 1.0%	10 yr+	0.7×	70%	Merck & Co.: KEYTRUDA and QLEX Generated 50.4% of Second-Quarter Revenue While Subcutaneous Sales Rose to 463 Million Dollars Before the 2028 Patent Cliff2026년 8월 5일 · Hold	FY2025
36	International Business Machines IBM · 미국	$211B	71/100 우수	46/100	34.1%low 7.5%	10 yr+	1.6×	52%	IBM Long-Term Owner's Perspective Research2026년 5월 25일 · Watch	FY2025
37	MediaTek Inc 2454 · 대만	$226B	70/100 우수	50/100	17.2%low 7.4%	10 yr+	Net cash	41%	MediaTek (2454.TW) Zen Horizon Framework Deep-Dive Research2026년 6월 9일 · Watch	FY2025
38	Walmart Inc. WMT · 미국	$885B	69/100 우수	46/100	16.0%low 8.4%	10 yr+	0.6×	25%	Walmart Research from a Long-Term Owner's Perspective2026년 5월 23일 · Watch	FY2026
39	Thermo Fisher Scientific Inc TMO · 미국	$213B	69/100 우수	47/100	13.3%low 8.8%	10 yr+	0.5×	44%	Thermo Fisher: A Long-Term Owner's Perspective2026년 5월 25일 · Watch	FY2025
40	Morgan Stanley MS · 미국	$331B	68/100 우수	46/100	11.1%low 7.9%	10 yr+	Net cash	77%	Morgan Stanley Deep Value Investment Research Report2026년 5월 25일 · Watch	FY2025
41	Amgen Inc AMGN · 미국	$208B	67/100 우수	43/100	51.4%low 7.8%	10 yr+	5.3×	76%	Amgen Inc. Deep-Dive Value Investing Analysis2026년 5월 21일 · Watch	FY2025
42	Oracle Corporation ORCL · 미국	$374B	65/100 우수	52/100	46.3%low 7.8%	10 yr+	2.9×	76%	Oracle Corporation2026년 7월 28일 · Hold	FY2026
43	AstraZeneca PLC AZN · 미국	$279B	64/100 보통	51/100	15.4%low 0.3%	10 yr+	0.5×	78%	아스트라제네카: 심층 리서치2026년 6월 15일 · 보유	FY2025
44	AstraZeneca PLC AZN · LSE	$249B	64/100 보통	—	15.3%low 0.3%	10 yr+	0.5×	72%	—	FY2025
45	Siemens AG ADR SIEGY · 미국	$249B	63/100 보통	48/100	13.4%low 7.6%	10 yr+	0.6×	35%	Siemens AG (SIE.XETRA) Zen Horizon Research Report2026년 6월 9일 · Watch	FY2025
46	Contemporary Amperex Technology Co., Limite 3750 · 홍콩	$380B	62/100 보통	59/100	16.7%low 8.7%	10 yr+	Net cash	29%	CATL: Zen Horizon Framework 심층 분석2026년 6월 4일 · 신중 매수	FY2025
47	Samsung Electronics Co Ltd 005930 · 한국	$1.7T	57/100 보통	38/100	12.1%low 4.1%	10 yr+	Net cash	38%	Samsung Electronics: Device Solutions Supplied 99.7% of Second-Quarter Operating Profit, and at 230,500 Won the Shares Already Trade Above the 185,000 Won Conservative Value2026년 8월 6일 · Hold	FY2025
48	Goldman Sachs Group Inc GS · 미국	$309B	55/100 보통	45/100	10.7%low 5.2%	10 yr+	Net cash	65%	Goldman Sachs Group Deep Value Investing Analysis2026년 5월 25일 · Watch	FY2025
49	CNOOC Limited 600938 · 상하이	$215B	52/100 보통	—	12.9%low 0.2%	10 yr+	Net cash	74%	—	FY2025
50	Linde plc Ordinary Shares LIN · 미국	$221B	48/100 다소 약함	47/100	13.9%low 4.7%	10 yr+	0.6×	32%	In-Depth Value Investment Analysis of Linde plc2026년 5월 22일 · Watch	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.