Earnings Review · 10 November 2026
The print
Revenue n/a. EPS $3.43 vs $3.29 expected.
What changed versus going in
Earnings came in at $3.43 a share against $3.29 expected, a beat of 4% (+$0.14 a share).
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 +0.21, five-day price change -2.1%, as of 2026-11-06, desk flow model).
Give the business its due
The business itself is genuinely strong: revenue growing about 5%, net margins near 6%.
Levels that matter
At $233.70 the shares sit 14% below the 52-week high of $271.64 and 10% above the low of $212.13 (36% of the way up the range). The 50-day average is $225.39, below the price. The 200-day average is $236.67, above the price.
The valuation lens
The shares trade about 16% below our fair-value estimate: a modest cushion. Fair value lands near $271 against a $233.70 share price, a margin of safety of about 16%. The trailing multiple sits around 24 times earnings, which only makes sense if the growth holds.
The ethical lens, our differentiator
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.
The compliant alternative
If the theme is what draws you, Watsco Inc (WSO) sits in the same industry (Industrial Distribution) and clears our principled screen, the place to look instead of chasing a name that does not.
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.
