Earnings Review · 05 November 2026
The print
Revenue $106.10B. EPS $2.09 vs $1.65 expected.
What changed versus going in
Earnings came in at $2.09 a share against $1.65 expected, a beat of 27% (+$0.44 a share). Revenue of $106.10B compares with $104.70B expected, 1.3% above consensus.
Did the flow confirm the move?
Underlying money flow is neutral (21-day Chaikin Money Flow +0.04, five-day price change +0.3%, as of 2026-11-03, desk flow model): no strong accumulation or distribution signature.
Give the business its due
The business itself is genuinely strong: revenue growing about 7%, net margins near 1%, a weak competitive moat, backed by a 6% return on equity.
Levels that matter
At $91.41 the shares sit 17% below the 52-week high of $110.68 and 32% above the low of $69.51 (53% of the way up the range). The 50-day average is $91.61, above the price. The 200-day average is $88.26, below the price.
The valuation lens
Our fair-value work puts the shares about 54% below what the business is worth: value on offer. Fair value lands near $141 against a $91.41 share price, a margin of safety of about 54%. The trailing multiple sits around 24 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.
