Earnings Review · 30 October 2026
The print
Revenue $16.99B. EPS $3.82 vs $3.77 expected.
What changed versus going in
Earnings came in at $3.82 a share against $3.77 expected, a beat of 1% (+$0.05 a share). Revenue of $16.99B compares with $17.30B expected, 1.8% below consensus.
Did the flow confirm the move?
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 +0.12, five-day price change -0.9%, as of 2026-10-27, desk flow model).
Give the business its due
The business itself is genuinely strong: revenue growing about 10%, net margins near 10%.
Levels that matter
At $286.39 the shares sit 2% below the 52-week high of $292.58 and 50% above the low of $190.75 (94% of the way up the range). The 50-day average is $266.12, below the price. The 200-day average is $232.89, below the price.
The valuation lens
The shares trade about 11% below our fair-value estimate: a modest cushion. Fair value lands near $322 against a $290.79 share price, a margin of safety of about 11%. The trailing multiple sits around 82 times earnings, which only makes sense if the growth holds.
The ethical lens, our differentiator
The two standards split: it clears the faith-based (AAOIFI) screen but not our broader anchor screen. We default to protection and do not call it compliant on a divergence.
The compliant alternative
The verdict for a values-conscious investor
A beat-and-raise does not change the screen. This is a great company you can admire without owning, protection first. One quarter, strong or soft, does not decide whether a holding is suitable.
This is analysis, not financial advice. Always manage your risk.
