| 1 |
AJ Bell plc
AJB · LSE
|
$2.9B |
97/100
Элита
|
— |
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 Safety16 августа 2026 г. · Hold |
FY2025 |
| 2 |
Games Workshop Group PLC
GAW · LSE
|
$8.0B |
94/100
Элита
|
— |
57.4%low 48.6% |
10 yr+ |
Net cash |
70% |
Games Workshop: An Exceptional Warhammer Compounder, Priced for Continued Excellence26 июня 2026 г. · Hold |
FY2026 |
| 3 |
Rightmove PLC
RMV · LSE
|
$4.4B |
94/100
Элита
|
— |
60.0%low 60.0% |
10 yr+ |
Net cash |
100% |
— |
FY2025 |
| 4 |
Hermes International SCA
RMS · Париж
|
$173B |
93/100
Элита
|
— |
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 Value8 сентября 2026 г. · Hold |
FY2025 |
| 5 |
Nemetschek AG O.N.
NEM · XETRA
|
$7.2B |
93/100
Элита
|
— |
26.3%low 19.4% |
10 yr+ |
0.2× |
53% |
— |
FY2025 |
| 6 |
Roche Holding AG
ROG · SW
|
$326B |
92/100
Элита
|
— |
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 Growth5 июня 2026 г. · Hold |
FY2025 |
| 7 |
Deutsche Börse AG
DB1 · XETRA
|
$51B |
92/100
Элита
|
— |
18.7%low 16.8% |
10 yr+ |
Net cash |
59% |
— |
FY2025 |
| 8 |
Kainos Group PLC
KNOS · LSE
|
$1.3B |
92/100
Элита
|
— |
34.4%low 25.8% |
10 yr+ |
Net cash |
48% |
— |
FY2026 |
| 9 |
Adyen NV
ADYEN · Амстердам
|
$30B |
91/100
Элита
|
— |
23.4%low 18.3% |
10 yr+ |
Net cash |
72% |
— |
FY2025 |
| 10 |
MONY Group plc
MONY · LSE
|
$1.3B |
91/100
Элита
|
— |
37.1%low 25.9% |
10 yr+ |
0.1× |
66% |
— |
FY2025 |
| 11 |
Orion Oyj B
ORNBV · HE
|
$12B |
90/100
Элита
|
— |
33.1%low 24.4% |
10 yr+ |
0.1× |
60% |
— |
FY2025 |
| 12 |
IMI PLC
IMI · LSE
|
$8.8B |
90/100
Элита
|
— |
24.4%low 21.3% |
10 yr+ |
0.5× |
45% |
— |
FY2025 |
| 13 |
Howden Joinery Group Plc
HWDN · LSE
|
$5.5B |
90/100
Элита
|
— |
32.1%low 20.5% |
10 yr+ |
0.3× |
62% |
— |
FY2025 |
| 14 |
Ninety One PLC
N91 · LSE
|
$2.7B |
90/100
Элита
|
— |
51.3%low 21.9% |
10 yr+ |
Net cash |
64% |
— |
FY2026 |
| 15 |
Schindler Ps
SCHP · SW
|
$35B |
89/100
Элита
|
— |
21.3%low 14.1% |
10 yr+ |
Net cash |
40% |
— |
FY2025 |
| 16 |
Epiroc AB (publ)
EPI-A · ST
|
$32B |
89/100
Элита
|
— |
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 Range10 сентября 2026 г. · Hold |
FY2025 |
| 17 |
LOréal S.A.
OR · Париж
|
$222B |
88/100
Элита
|
— |
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 Upside5 августа 2026 г. · Hold |
FY2025 |
| 18 |
Novo Nordisk A/S
NOVO-B · CO
|
$210B |
88/100
Элита
|
— |
59.3%low 52.8% |
10 yr+ |
0.5× |
84% |
Novo Nordisk: A Long-Term Owner's Perspective17 мая 2026 г. · Watch |
FY2025 |
| 19 |
EMS-CHEMIE HOLDING AG
EMSN · SW
|
$24B |
88/100
Элита
|
— |
29.1%low 25.1% |
10 yr+ |
Net cash |
39% |
— |
FY2025 |
| 20 |
Belimo Holding
BEAN · SW
|
$13B |
88/100
Элита
|
— |
22.5%low 17.7% |
10 yr+ |
Net cash |
44% |
Belimo Holding: премиальный HVAC-компаундер, в цене которого уже заложена длинная траектория ИИ-охлаждения27 июня 2026 г. · Наблюдать |
FY2025 |
| 21 |
Computacenter PLC
CCC · LSE
|
$6.1B |
88/100
Элита
|
— |
20.0%low 14.9% |
10 yr+ |
Net cash |
14% |
— |
FY2025 |
| 22 |
Rotork PLC
ROR · LSE
|
$5.0B |
88/100
Элита
|
— |
16.4%low 12.2% |
10 yr+ |
Net cash |
46% |
— |
FY2025 |
| 23 |
Atlas Copco AB Series A
ATCO-A · ST
|
$105B |
87/100
Элита
|
— |
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 Value9 сентября 2026 г. · Hold |
FY2025 |
| 24 |
KONE Oyj
KNEBV · HE
|
$28B |
87/100
Элита
|
— |
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 Scale11 августа 2026 г. · Hold |
FY2025 |
| 25 |
Geberit AG
GEBN · SW
|
$22B |
87/100
Элита
|
— |
38.1%low 28.7% |
10 yr+ |
0.5× |
69% |
— |
FY2025 |
| 26 |
Coloplast A/S
COLO-B · CO
|
$15B |
87/100
Элита
|
— |
48.7%low 22.6% |
10 yr+ |
1.3× |
68% |
— |
FY2025 |
| 27 |
Sage Group PLC
SGE · LSE
|
$11B |
87/100
Элита
|
— |
24.2%low 15.0% |
10 yr+ |
1.7× |
89% |
— |
FY2025 |
| 28 |
Plus500 Ltd
PLUS · LSE
|
$3.3B |
87/100
Элита
|
— |
52.0%low 38.8% |
10 yr+ |
Net cash |
100% |
— |
FY2025 |
| 29 |
Givaudan SA
GIVN · SW
|
$38B |
86/100
Элита
|
— |
20.9%low 17.9% |
10 yr+ |
0.8× |
42% |
Givaudan SA (GIVN.SW) Zen Horizon Research Report8 июня 2026 г. · Watch |
FY2025 |
| 30 |
BE Semiconductor Industries NV
BESI · Амстердам
|
$24B |
86/100
Элита
|
— |
35.2%low 19.0% |
10 yr+ |
Net cash |
59% |
In-Depth Value Analysis of Besi, a Back-End Advanced Packaging Equipment Leader4 июня 2026 г. · Watch |
FY2025 |
| 31 |
Indutrade AB
INDT · ST
|
$9.3B |
86/100
Элита
|
— |
19.6%low 15.0% |
10 yr+ |
0.4× |
34% |
— |
FY2025 |
| 32 |
RS GROUP PLC
RS1 · LSE
|
$4.3B |
86/100
Элита
|
— |
19.3%low 11.3% |
10 yr+ |
0.2× |
43% |
— |
FY2026 |
| 33 |
Industria de Diseno Textil SA
ITX · MC
|
$183B |
85/100
Элита
|
— |
23.9%low 7.6% |
10 yr+ |
Net cash |
56% |
Inditex: A Productivity Compounder Meets Its Valuation Test8 сентября 2026 г. · Hold |
FY2026 |
| 34 |
Halma PLC
HLMA · LSE
|
$17B |
85/100
Элита
|
— |
16.7%low 14.7% |
10 yr+ |
0.4× |
49% |
— |
FY2026 |
| 35 |
Wolters Kluwer N.V.
WKL · Амстердам
|
$16B |
85/100
Элита
|
— |
39.3%low 18.7% |
10 yr+ |
5.3× |
70% |
— |
FY2025 |
| 36 |
Logitech International S.A.
LOGN · SW
|
$15B |
85/100
Элита
|
— |
26.9%low 16.1% |
10 yr+ |
Net cash |
40% |
— |
FY2026 |
| 37 |
IG Group Holdings PLC
IGG · LSE
|
$6.1B |
85/100
Элита
|
— |
22.8%low 16.3% |
10 yr+ |
Net cash |
90% |
— |
FY2025 |
| 38 |
IntegraFin Holdings plc
IHP · LSE
|
$1.6B |
85/100
Элита
|
— |
28.1%low 22.8% |
10 yr+ |
Net cash |
93% |
— |
FY2025 |
| 39 |
Relx PLC
REL · LSE
|
$58B |
84/100
Элита
|
— |
54.4%low 43.3% |
10 yr+ |
3.0× |
65% |
— |
FY2025 |
| 40 |
Diageo PLC
DGE · LSE
|
$46B |
84/100
Элита
|
— |
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 Enough31 июля 2026 г. · Hold |
FY2025 |
| 41 |
Legrand SA
LR · Париж
|
$37B |
84/100
Элита
|
— |
16.0%low 13.9% |
10 yr+ |
0.6× |
52% |
— |
FY2025 |
| 42 |
Sonova H Ag
SOON · SW
|
$17B |
84/100
Элита
|
— |
21.5%low 16.3% |
10 yr+ |
0.4× |
71% |
— |
FY2026 |
| 43 |
Euronext N.V.
ENX · Париж
|
$16B |
84/100
Элита
|
— |
21.4%low 11.2% |
10 yr+ |
0.4× |
76% |
— |
FY2025 |
| 44 |
Elisa Oyj
ELISA · HE
|
$6.1B |
84/100
Элита
|
— |
28.4%low 26.4% |
10 yr+ |
1.2× |
62% |
— |
FY2025 |
| 45 |
Fuchs Petrolub SE Preference Shares
FPE3 · XETRA
|
$5.7B |
84/100
Элита
|
— |
16.6%low 13.9% |
10 yr+ |
Net cash |
34% |
— |
FY2025 |
| 46 |
LVMH Moët Hennessy - Louis Vuitton
MC · Париж
|
$253B |
83/100
Элита
|
— |
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 Value9 сентября 2026 г. · Hold |
FY2025 |
| 47 |
Unilever PLC
ULVR · LSE
|
$130B |
83/100
Элита
|
— |
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 Safety3 августа 2026 г. · Hold |
FY2025 |
| 48 |
Ferguson Plc
FERG · LSE
|
$43B |
83/100
Элита
|
— |
30.0%low 22.0% |
10 yr+ |
0.9× |
30% |
— |
FY2025 |
| 49 |
Dassault Systemes SE
DSY · Париж
|
$28B |
83/100
Элита
|
— |
12.4%low 9.7% |
10 yr+ |
Net cash |
84% |
Dassault Systèmes: A Zen Horizon Framework Deep-Dive Research Report4 июня 2026 г. · Watch |
FY2025 |
| 50 |
Morgan Sindall Group PLC
MGNS · LSE
|
$2.6B |
83/100
Элита
|
— |
17.5%low 10.8% |
10 yr+ |
Net cash |
11% |
— |
FY2025 |
| 51 |
BAE Systems plc
BA · LSE
|
$78B |
82/100
Элита
|
— |
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 Growth30 июля 2026 г. · Hold |
FY2025 |
| 52 |
Experian PLC
EXPN · LSE
|
$31B |
82/100
Элита
|
— |
27.3%low 20.1% |
10 yr+ |
0.9× |
42% |
— |
FY2026 |
| 53 |
Knorr-Bremse AG
KBX · XETRA
|
$18B |
81/100
Элита
|
— |
25.5%low 14.6% |
10 yr+ |
0.4× |
49% |
— |
FY2025 |
| 54 |
Demant A/S
DEMANT · CO
|
$9.2B |
81/100
Элита
|
— |
21.9%low 13.6% |
10 yr+ |
2.3× |
74% |
— |
FY2025 |
| 55 |
Andritz AG
ANDR · VI
|
$8.6B |
81/100
Элита
|
— |
19.2%low 10.6% |
10 yr+ |
— |
49% |
ANDRITZ: Service Reached 46% of Revenue, but the Record Backlog Is Hydro-Heavy and Margin-Dilutive19 августа 2026 г. · Hold |
FY2025 |
| 56 |
Spirax Group plc
SPX · LSE
|
$6.5B |
81/100
Элита
|
— |
20.6%low 13.4% |
10 yr+ |
0.5× |
50% |
— |
FY2025 |
| 57 |
Temenos Group AG
TEMN · SW
|
$5.7B |
81/100
Элита
|
— |
36.0%low 19.7% |
10 yr+ |
1.2× |
70% |
— |
FY2025 |
| 58 |
Royal Unibrew A/S
RBREW · CO
|
$3.6B |
81/100
Элита
|
— |
29.8%low 19.1% |
10 yr+ |
0.9× |
48% |
— |
FY2025 |
| 59 |
Nestle S.A.
NESN · SW
|
$265B |
80/100
Элита
|
— |
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 Safety5 сентября 2026 г. · Hold |
FY2025 |
| 60 |
Sika AG
SIKA · SW
|
$37B |
80/100
Элита
|
— |
22.8%low 15.7% |
10 yr+ |
0.7× |
45% |
Sika AG: качественный компаундер в циклической воздушной яме27 июня 2026 г. · Держать |
FY2025 |
| 61 |
Straumann Holding AG
STMN · SW
|
$20B |
80/100
Элита
|
— |
21.3%low 7.6% |
10 yr+ |
0.1× |
74% |
Straumann Holding AG: лидер дентальной платформы по завышенной цене27 июня 2026 г. · Держать |
FY2025 |
| 62 |
Evolution AB (publ)
EVO · ST
|
$15B |
80/100
Элита
|
— |
34.7%low 10.4% |
10 yr+ |
Net cash |
100% |
— |
FY2025 |
| 63 |
Schroders PLC
SDR · LSE
|
$12B |
80/100
Элита
|
— |
12.9%low 9.2% |
10 yr+ |
Net cash |
77% |
— |
FY2025 |
| 64 |
Dino Polska SA
DNP · WAR
|
$8.6B |
80/100
Элита
|
— |
24.2%low 18.0% |
10 yr+ |
Net cash |
24% |
— |
FY2025 |
| 65 |
Edenred SA
EDEN · Париж
|
$7.3B |
80/100
Элита
|
— |
60.0%‡low 60.0% |
10 yr+ |
— |
48% |
— |
FY2025 |
| 66 |
Auto Trader Group plc
AUTO · LSE
|
$5.2B |
80/100
Элита
|
— |
51.1%low 27.9% |
10 yr+ |
0.5× |
91% |
— |
FY2026 |
| 67 |
Domino’s Pizza Group PLC
DOM · LSE
|
$988M |
80/100
Элита
|
— |
40.7%‡low 23.4% |
10 yr+ |
— |
45% |
— |
FY2025 |