리포트 아카이브
전체 리서치
52페이지 중 29페이지 · 리포트 1235건
32/100
6Buffett
Norwegian Cruise Line Holdings: A Deep Value Study
A highly leveraged, capital-intensive second-tier cruise operator whose demand has recovered but whose moat is weaker than the leaders. At the current price of $18.34, the stock sits inside its fair-value range with an insufficient margin of safety. Rating Watch: a recovery story that does not yet give conservative long-term investors enough room for error; ideal entry $12–15.
43/100
78Buffett
Domino's Pizza Deep Value Investment Research
Domino's is the world's largest pizza franchise platform, with an approximately 99% asset-light franchised model, 2025 operating cash flow of $792 million, and free cash flow of about $670 million. The core thesis is that it remains a high-quality cash-generative compounder, but total debt of $4.817 billion, U.S. same-store sales growth of only 0.9% in 2026Q1, and a current price of $310.58 leave the shares near the lower end of a neutral value range with an insufficient margin of safety; the ideal entry point is $250 to $285. Report rating Watch: a good business worth waiting for, rather than a cheap stock with ample protection today.
46/100
64Buffett
Long-Term Value Investment Research on Zebra Technologies
Zebra has strong brand equity, channel reach, and an installed base in AIDC and frontline digitization. The core thesis is that roughly 13.9x TTM FCF and a conservative intrinsic value range of USD 200-240 make the business worth studying, but the current price of USD 243.63 sits near the upper end of that conservative range while the Elo acquisition added USD 776 million of goodwill and buybacks are partly debt-supported. Research rating Watch: a quality industrial technology company, but the margin of safety is not yet sufficient and the ideal buy range is USD 180-220.
36/100
Wynn Resorts Deep Value Investment Research
Wynn Resorts owns high-quality luxury resort assets in Macau, Las Vegas, and Boston, with 2025 revenue of $71.4B and operating cash flow of $1.35B, but also carries $10.52B of debt and negative shareholders' equity. At the current price of $101.22, the stock sits near the midpoint of fair value, with conservative value at $70 to $85, an ideal buy range of $75 to $85, and an insufficient margin of safety. Report rating Watch: a quality cyclical asset, but not cheap enough for a conservative long-term investor.
45/100
76Buffett
The Trade Desk: A Long-Term Owner's Deep-Dive
TTD is a high-quality independent buy-side DSP, with 95%+ customer retention, $1.4 billion of net cash, and no debt. The core debate is that growth has slowed to 12%, agency relationships are under strain, SBC remains high, and the current price of $21.56 is close to neutral value with an insufficient margin of safety. Report rating Watch: a durable compounder worth tracking, but the ideal buy range is $15 to $18.
35/100
J.M. Smucker Value Investing Deep Dive
J.M. Smucker is an easy-to-understand North American branded food company with resilient operating cash flow from coffee, peanut butter, and pet snacks. The core thesis is tempered by nearly $3.0 billion of Hostess-related impairments and 4.1x net debt to EBITDA, while the current price of about $103 sits near the lower end of fair value with limited margin of safety. Research rating Watch: a durable cash-flow compounder, but one that needs a better entry price or clearer evidence of deleveraging and Hostess repair.
40/100
77Buffett
Pentair plc In-Depth Value Investment Research
Pentair plc is a leading water treatment and pool equipment company with solid cash flow, including $748 million of FCF in 2025. The core thesis is that Pool still contributes 46% of segment profit and carries single-customer concentration, while the current $70.84 share price sits inside the fair value range with limited margin of safety and an ideal entry point of $55 to $62. Research rating Watch: a durable but not obviously cheap compounder that belongs on a disciplined watchlist.
34/100
34Buffett
MGM Resorts International: A Deep Value Investment Study
A high-quality gaming and entertainment asset, but the margin of safety is too thin. At the current price of $43.67, the stock sits above a conservative valuation and below a fair one; heavy fixed rent (roughly $1.8 billion over the next 12 months) and the $2.1 billion Osaka capital commitment squeeze distributable cash, leaving an ideal buy range of $35 to $40. Rating Watch: a quality operator in a difficult industry, worth tracking but not buying until the price offers a thicker cushion.
49/100
66Buffett
Gartner Long-Term Value Investment Research
Gartner is a high-cash-flow, asset-light enterprise knowledge subscription company with $5.3 billion in contract value and $3.05 billion in deferred revenue. At about $162 per share, it trades at roughly 10x conservative Owner Earnings; valuation is reasonable, while the margin of safety is limited. Rating Cautious Buy: the ideal buy range is $135 to $155.
47/100
58Buffett
GoDaddy Long-Term Value Investment Research
GoDaddy is an SMB digital platform that starts with domains and extends into websites, email, marketing, payments, and commerce tools. At about $85.83, the stock has fallen back into a researchable range, with a conservative owner-earnings multiple of roughly 9-11 times and a 20%-30% discount to neutral intrinsic value, though the margin of safety is not thick; the ideal buy range is $70-$80. Research rating Cautious Buy: a durable cash-flow compounder with real platform value, but not enough downside protection for an aggressive position.
39/100
Camden Property Trust: A Value-Investing Deep Dive
Camden is a U.S. Sunbelt apartment REIT with real cash flow, a sound balance sheet, and A-/A3/A- credit ratings. The core thesis is that asset quality and disciplined management are offset by a narrow moat, negative same-store NOI, and a current price of USD 106.56 that sits close to fair value with limited margin of safety. Research rating Watch: a solid apartment REIT worth tracking, with a fair buy zone around USD 80 to USD 90.
43/100
Revvity In-Depth Value Investment Research
Revvity is a life sciences and diagnostics tools company with understandable businesses and acceptable cash generation. The core thesis is that its recurring revenue mix and focused portfolio are attractive, but its moat and capital returns are not strong enough to offset low-single-digit GAAP ROIC, $6.6 billion of goodwill, and a share price already near the low end of the optimistic case. Research rating Watch: a quality business with insufficient margin of safety at the current price, with a fair buy range of $50 to $65.
51/100
53Buffett
Insulet Corporation: A Long-Term Owner's Perspective
A good business priced with too little margin of safety today. The Omnipod platform carries a multi-layered moat and the AID category is still gaining penetration; but at $144.94 the owner's yield sits below Treasuries, the ideal buy zone is $110-120, Rating Watch.
46/100
Erie Indemnity Company: In-Depth Research from a Long-Term Business Owner's Perspective
Erie Indemnity is a high-quality insurance management fee platform that earns management fees as a percentage of premiums around Erie Insurance Exchange. The core thesis is a clear business model and strong cash flow quality, offset by a $213 share price near the lower end of neutral intrinsic value, limited margin of safety, non-voting public shares, and uncertainty around management-fee litigation. Research rating Watch: a durable business, but the ideal entry point is $160 to $180.
40/100
Globe Life Value Investment Research
Globe Life is a life insurer built around a durable in-force policy pool and disciplined buybacks, serving primarily low- to middle-income U.S. households. The core thesis is that reported free cash flow may overstate true owner earnings, while the current price near $153 sits around the middle of fair value with limited margin of safety and an ideal buy range of $120 to $135. Research rating Watch: a respectable business at a reasonable price, but not yet a compelling entry point for conservative long-term owners.
41/100
Skyworks Solutions Deep Value Investment Analysis
Skyworks is a mid-quality, mid-priced analog/RF semiconductor company with real cash generation but rising strategic complexity. Operating margin has fallen from 27.8% to 12.2%, key-customer share has weakened, and the pending Qorvo acquisition now dominates the forward risk profile. Report rating Watch: at $77.85 the stock sits in the lower half of fair value, with insufficient margin of safety and a more attractive buy zone around $55-65.
34/100
Paramount Skydance Corporation: A Long-Term Value Investing Study
Good assets, bad security. The content assets are real (CBS, Paramount+, a vast film library), but linear TV keeps eroding, free cash flow is thin, and the equity is being reshaped by a mega-acquisition of WBD: a $47 billion equity raise plus roughly $79 billion of net debt. The $10.61 margin of safety is hard to verify, with an ideal entry below $7. Rating Avoid: real content assets attached to an unsettled, likely heavily diluted, more highly leveraged future platform, with no verifiable margin of safety for a conservative value investor.
43/100
Invesco Ltd. Long-Term Business Owner Research
Invesco is a global asset-management platform whose economics depend on AUM, fee rates, distribution, and product mix. The core thesis is that QQQ's conversion into an open-end ETF, ETF/index growth, China JV inflows, and operating leverage are improving earnings, but low customer switching costs, active-equity outflows, heavy goodwill and intangibles, and a thin margin of safety keep the stock from being compelling at about $28.46. Research rating Watch: a reasonably priced improvement story, but not yet a high-conviction compounder; the preferred entry range is $22-26.
37/100
Hormel Foods Deep Value Investment Research
Hormel Foods is a defensive consumer-food company built on protein, brands, and channel relationships. The core issue is that operating profit has fallen from the $1.1 billion to $1.2 billion range to $719 million, ROIC is only about 6%, and the Planters and Garudafood impairments expose capital-allocation mistakes, while a $23.27 share price leaves limited margin of safety versus an ideal buy zone of $16 to $19. Rating Watch: a durable but no-longer-obviously-cheap food compounder that deserves tracking rather than immediate buying.
44/100
92Buffett
Brown-Forman Deep Value Analysis
Brown-Forman is a high-quality spirits company whose Jack Daniel's moat and roughly 59% gross margin remain intact, but its current price offers only average appeal. The core thesis is that premiumisation has slowed, capital allocation has been competent rather than exceptional, and the share price of $25.72 sits near the lower end of fair value without much margin of safety. Report rating Watch: a durable compounder worth tracking, with a preferred entry point at $18-22.
41/100
Pinnacle West Capital Corporation Value Investment Research Report
Pinnacle West Capital Corporation is a regulated Arizona electric utility with stable demand and a strong regulatory moat. The core thesis is that growth is real but depends heavily on financing, capital investment, and future rate recovery while free cash flow remains structurally negative. Research rating Watch: a defensible utility franchise, but the current price offers limited margin of safety and the ideal buy range is $75 to $85.
46/100
Tyler Technologies Deep Value Investment Research
Tyler Technologies is the leading U.S. vertical software provider for local governments, spanning courts, public safety, tax, ERP, and payments, with recurring revenue at 87%, client retention at 98%, and very high switching costs. The core thesis is that this is a high-quality, durable business, but the current share price of about $313 already embeds a premium for quality software and leaves limited margin of safety. Report rating Watch: a compounder worth tracking, with an ideal buy range of $220 to $260.
36/100
Stanley Black & Decker Deep Value Investment Research
Stanley Black & Decker is a legacy industrial company built around DeWalt/Craftsman power tools and outdoor products plus engineered fasteners. The core thesis is that the company is repairing the damage from its 2022 capital-allocation misstep, with gross margin and cash flow improving while ROIC remains weak. Research rating Watch: at around $79, the stock sits near neutral intrinsic value, with no clear margin of safety and an ideal buy range of $55 to $70.
41/100
Hasbro: A Deep Value Investing Study
A hybrid of toys, tabletop card games (Magic/D&D), and IP licensing, where the Wizards segment is exceptional while the consumer products business is mediocre and still carries the aftereffects of the eOne impairment. At around $86 the stock sits at neutral-to-slightly-below with an insufficient margin of safety, earning a Watch rating; the ideal buy range is $55-65.