Earnings Review · 22 October 2026
The print
Results are in but not yet verified against a primary source in our ledger; this review updates the moment the audited figures land. What does not change is our read below.
How the market took it
On 2026-10-22 the shares closed at $97.46, +7.1% against the prior close of $90.96 (opening +0.5% from the prior close).
Did the flow confirm the move?
Underlying money flow reads as accumulation (21-day Chaikin Money Flow +0.13, five-day price change +3.5%, as of 2026-10-21, desk flow model).
Give the business its due
The business itself is genuinely strong: revenue growing about 6%, net margins near 14%, a moderate competitive moat, backed by a 19% return on equity.
Levels that matter
At $97.46 the shares sit -2% below the 52-week high of $95.48 and 24% above the low of $78.82 (112% of the way up the range). The 50-day average is $87.76, below the price. The 200-day average is $87.20, below the price.
The valuation lens
The shares trade about 13% above our fair-value estimate: priced for things to go right. Fair value lands near $86 against a $97.46 share price, a margin of safety of about -13%. The trailing multiple sits around 33 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.
