Earnings Review · 27 October 2026
The print
Revenue $4.50B. EPS $0.91 vs $0.88 expected.
How the market took it
On 2026-10-27 the shares closed at $126.30, -1.1% against the prior close of $127.74 (opening +0.3% from the prior close). Across the last 26 reports the shares have moved an average of +2.8% over the five sessions after the print, so the -1.1% on the day sits behind that average.
What changed versus going in
Earnings came in at $0.91 a share against $0.88 expected, a beat of 3% (+$0.03 a share). Revenue of $4.50B compares with $5.00B expected, 9.9% below consensus.
Did the flow confirm the move?
Underlying money flow is neutral (21-day Chaikin Money Flow +0.02, five-day price change -3.8%, as of 2026-10-26, desk flow model): no strong accumulation or distribution signature.
Give the business its due
The business itself is genuinely strong: revenue growing about 17%, net margins near 11%, a moderate competitive moat, backed by a 17% return on equity.
Levels that matter
At $126.30 the shares sit 54% below the 52-week high of $271.78 and 63% above the low of $77.39 (25% of the way up the range). The 50-day average is $151.20, above the price. The 200-day average is $154.63, above the price.
The valuation lens
The shares trade about 15% below our fair-value estimate: a modest cushion. Fair value lands near $148 against a $126.30 share price, a margin of safety of about 15%. The trailing multiple sits around 67 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.
