Earnings Review · 10 October 2026
The print
Revenue $19.76B. EPS $1.72 vs $1.76 expected.
How the market took it
On 2026-10-09 the shares closed at $82.17, +0.0% against the prior close of $82.14 (opening -3.0% from the prior close). Buyers absorbed the reaction: the stock recovered 3.0 points from the open, which says the market looked through the headline. Across the last 24 reports the shares have moved an average of +0.7% over the five sessions after the print, so the +0.0% on the day sits behind that average.
What changed versus going in
Earnings came in at $1.72 a share against $1.76 expected, a miss of 2% (-$0.04 a share). Revenue of $19.76B compares with $18.90B expected, 4.5% above consensus.
Did the flow confirm the move?
Underlying money flow reads as accumulation (21-day Chaikin Money Flow +0.14, five-day price change -2.3%, as of 2026-10-09, desk flow model).
Give the business its due
The business itself is genuinely strong: revenue growing about 19%, net margins near 6%, a narrow competitive moat, backed by a 20% return on equity.
Levels that matter
At $82.17 the shares sit 14% below the 52-week high of $95.68 and 49% above the low of $55.03 (67% of the way up the range).
The valuation lens
The shares trade close to our fair-value estimate (+6% margin of safety): fairly priced, little cushion for a miss. Fair value lands near $88 against a $82.17 share price, a margin of safety of about 6%. The trailing multiple sits around 14 times earnings, which only makes sense if the growth holds.
The ethical lens, our differentiator
Screens compliant (on our anchor standard; the faith-based screen is stricter here). 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.
