Data-driven stock analysis, valuation deep dives, and financial forensics. Every article backed by the numbers.
With net income up 20% to $17.2 billion and operating margins at 38.3%, Goldman Sachs enters Q1 reporting season with the Street's cautious consensus looking increasingly stale.
Adidas, Under Armour, and Lululemon all followed the same turnaround arc. Nike is seven months into the pattern — and the data suggests the stock bottoms before the financials turn.
At 24.8x earnings, Deere looks expensive for a cyclical industrial. A sum-of-parts analysis with the $2.3 billion technology segment valued separately implies $480-520 fair value.
The Pioneer integration is delivering synergies ahead of schedule, Permian breakevens sit below $35, and $36 billion in annual capital return signals a company the market is still pricing as a commodity play.
Customer churn from the July 2024 outage has been negligible, but at 80x earnings and 15x revenue, CrowdStrike is priced for perfection again.
Net interest income defied rate-cut models, investment banking fees surged, and normalised earnings now look closer to $52-55 billion than our prior $45-48 billion estimate.
Net retention has stabilised, AI workloads are inflecting at 300% growth, FCF margins hit 25%, and the CEO transition is behind it. The four biggest bear arguments are weakening.
Merck's 40th KEYTRUDA indication and approaching MK-0616 FDA decision tell a story about the post-patent strategy that consensus models are underestimating.
Operating income has grown sixfold since 2022. The market still thinks it is buying a retailer.
Rivian just posted positive gross margins for the first time while EV sales fell 11% industry-wide. The Volkswagen JV and R2 platform launch change the survival calculus.
Post-Kenvue JNJ trades at 22x earnings with a looming Stelara patent cliff worth $4-5 billion in annual revenue. The defensive premium is priced for a company that no longer exists.
While hardware and chip stocks spent April repricing trade war exposure, Netflix had no supply chain to worry about. The real question is whether the margin transformation from 17.8% to 29.5% in three years justifies a 40x multiple.
Precision agriculture revenue has grown from $1.8B to $4.4B in four years while total revenue declined. The market is getting the tech transformation for free.
Elliott Management is pushing for a split. The sum-of-parts shows $180-200B in value versus a $150B market cap. The GE precedent makes the case.
Marathon synergies are running 20% ahead of target. Production crossed 2 million BOE/d. We're raising our target to $145.