Earnings Review · 13 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 2026-10-13 the shares closed at $28.33, +2.8% against the prior close of $27.55 (opening +2.9% from the prior close).
Did the flow confirm the move?
Price has run up but the money has been quietly leaving: distribution into strength. For a holder that is a trim-or-take-profit signal, not an add; the crowd sees the strength, the flow sees the exit. (21-day Chaikin Money Flow -0.20, five-day price change +4.0%, as of 2026-10-12, desk flow model).
Give the business its due
The business itself is genuinely strong: revenue growing about 3%, net margins near 9%, a moderate competitive moat, backed by a 16% return on equity.
Levels that matter
At $28.33 the shares sit 7% below the 52-week high of $30.57 and 44% above the low of $19.72 (79% of the way up the range).
The valuation lens
The shares trade about 24% below our fair-value estimate: a modest cushion. Fair value lands near $37 against a $28.33 share price, a margin of safety of about 24%. The trailing multiple sits around 15 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.
