Earnings Review · 13 November 2026
The print
Revenue $5.43B. EPS $0.51 vs $0.50 expected.
How the market took it
On 2026-11-12 the shares closed at $32.62, -3.5% against the prior close of $33.80 (opening -4.0% from the prior close). Across the last 18 reports the shares have moved an average of -0.7% over the five sessions after the print, so the -3.5% on the day sits behind that average.
What changed versus going in
Earnings came in at $0.51 a share against $0.50 expected, a beat of 2% (+$0.01 a share).
Did the flow confirm the move?
Underlying money flow is neutral (21-day Chaikin Money Flow -0.01, five-day price change -0.8%, as of 2026-11-11, desk flow model): no strong accumulation or distribution signature.
Give the business its due
The business itself is genuinely strong: revenue growing about 3%, net margins near 11%, a weak competitive moat, backed by a 8% return on equity.
Levels that matter
At $33.07 the shares sit 3% below the 52-week high of $34.19 and 39% above the low of $23.73 (89% of the way up the range). The 50-day average is $31.63, below the price. The 200-day average is $29.80, below the price.
The valuation lens
The shares trade about 10% below our fair-value estimate: a modest cushion. Fair value lands near $36 against a $32.62 share price, a margin of safety of about 10%. The trailing multiple sits around 27 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.
