Earnings Preview · 26 October 2026
Where our screen stands going in
Fails the principled screen, Debt ratio. A strong business is not the same as a suitable one; for a values-conscious book this is a do-not-chase regardless of the print.
What the Street expects
Consensus looks for earnings of about $1.27 a share on revenue near $34.9B. Over the next twelve months analysts pencil in $5.27 of earnings per share against $3.92 over the last twelve, growth of about 34%. The median analyst target is $51 (range $45 to $62), 15% above the $44.35 share price, across 22 analysts.
How it has traded on past prints
Across the last 25 reports, the shares moved an average of +0.6% in the five sessions after the print and +5.0% over twenty. The post-earnings drift has been consistent: the first move has tended to keep going.
Levels that matter
At $44.35 the shares sit 14% below the 52-week high of $51.68 and 16% above the low of $38.39 (45% of the way up the range). The 50-day average is $47.54, above the price. The 200-day average is $45.54, above the price.
Valuation going in
Our fair-value work puts the shares about 28% below what the business is worth: value on offer. Our fair-value estimate is $62.00 against the current share price of $44.35. The shares trade at 11.3 times trailing earnings and 8.4 times forward earnings. Revenue is growing about -1% with net margins near 12%.
Our stance
We are not participants, the name fails our principled screen, so we watch it as a sentiment gauge, not a holding.
What the flow says going in
Money has been flowing IN underneath a flat-to-lower price: quiet accumulation, the kind of positioning that tends to show up before a name moves, not after. (21-day Chaikin Money Flow +0.08, five-day price change -0.3%, as of 2026-10-23, desk flow model).
This is analysis, not financial advice. Always manage your risk.
