Earnings Review · 13 October 2026
The print
Results are in but not yet verified against a primary source in our ledger; this review updates the moment the audited figures land. What does not change is our read below.
How the market took it
On 2026-10-12 the shares closed at $83.25, -2.6% against the prior close of $85.45 (opening -0.0% from the prior close).
Did the flow confirm the move?
Underlying money flow is neutral (21-day Chaikin Money Flow -0.05, five-day price change +0.2%, as of 2026-10-09, desk flow model): no strong accumulation or distribution signature.
Give the business its due
The business itself is genuinely strong: revenue growing about -3%, net margins near 14%, a moderate competitive moat, backed by a 17% return on equity.
Levels that matter
At $83.25 the shares sit 46% below the 52-week high of $152.95 and -7% above the low of $89.77 (-10% of the way up the range).
The valuation lens
The shares trade about 11% below our fair-value estimate: a modest cushion. Fair value lands near $94 against a $83.25 share price, a margin of safety of about 11%. The trailing multiple sits around 18 times earnings, which only makes sense if the growth holds.
The ethical lens, our differentiator
Screens compliant (both standards agree). A name values-conscious investors can weigh on the merits.
The verdict for a values-conscious investor
It clears the screen; size it to your own risk and conviction. One quarter, strong or soft, does not decide whether a holding is suitable.
This is analysis, not financial advice. Always manage your risk.
