Evidence and analysis
Research evidence pack
Source-backed valuation visuals
2. Company Fundamentals
2.1 Competitiveness
| Metric | Value |
|---|---|
| Operating Margins | 35.84% |
| Profit Margins | 22.54% |
| Return on Equity | 46.45% |
| Return on Assets | 6.05% |
| Free Float | 0.21B |
| Dividend Yield | 1.04% |
| Short Int % Utilisation | 1.42% |
2.2 Growth
| Metric | Value |
|---|---|
| Revenue Growth | 6.5% |
| Free Cash Flow | 3.34B |
| EBITDA | 14.75 (Ratio) |
| Enterprise Value | 86.21B |
| EV/Revenue | 4.93 |
| EV/EBITDA | 14.75 |
Revenue growth of 6.5% indicates steady, moderate expansion.
2.3 Management
| Role | Metric |
|---|---|
| Consensus Rating | N/A |
2.4 Return
| Metric | Value |
|---|---|
| Expected Return (Ann.)* | 0.56% |
| Risk / Std Dev (Ann.)* | 25.18% |
| 1-Year Price Return* | -2.57% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric | Value |
|---|---|
| Last Price | $355.83 |
| 52-Week Range | $304.59 – $382.34 |
| Observation Count | 251 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in US$. Revenue and net income are income-statement flows; total assets and shareholders’ equity are year-end balance-sheet figures. This is a simplified year-end-balance DuPont comparison rather than an average-balance ROE calculation.
| DuPont component | Calculation | FY2025 | FY2024 |
|---|---|---|---|
| Revenue | Reported revenue | $17.18B | $15.70B |
| Net income | Reported net income | $3.69B | $2.65B |
| Total assets | Year-end reported balance | $50.78B | $48.97B |
| Shareholders’ equity | Year-end reported balance | $9.35B | $6.12B |
| Net margin | Net income ÷ revenue | 21.51% | 16.91% |
| Asset turnover | Revenue ÷ total assets | 0.3383x | 0.3206x |
| Equity multiplier | Total assets ÷ shareholders’ equity | 5.4303x | 7.9995x |
| ROE | Net margin × asset turnover × equity multiplier | 39.51% | 43.36% |
Source: Yahoo Finance annual statements. Values are based on the two latest comparable annual periods returned by the source; fiscal period labels use the statement period-end year.
2.5 FCFF DCF Valuation
FCFF DCF exception: FCFF DCF is not the primary valuation method for financial institutions or REITs. This post deliberately does not publish a mechanical enterprise value or implied per-share value on an unsuitable basis.
| Available valuation input | Value |
|---|---|
| Last market price | $347.15 |
| Market capitalisation | $73.64B |
| Revenue | $17.18B |
| EBIT | $5.57B |
| Reported free cash flow | $3.22B |
| FCF yield | 4.37% |
| Net debt / EBITDA | 2.03x |
2.6 Investor-Style Research Screen
| Educational screen | Result |
|---|---|
| Buffett-inspired cash-quality checks | not rated — FCFF DCF suitability or data-integrity condition not met |
| Lynch-inspired balance-and-growth checks | not rated — FCFF DCF suitability or data-integrity condition not met |
Data lineage: Yahoo Finance public market and reported-statement data; retrieval timestamp: 2026-08-18 17:22:38.036418 UTC; latest reported fiscal period: 2025-12-31 00:00:00. Financial institutions and REITs require sector-specific methods rather than a mechanical FCFF DCF. This is research and analysis only, not personalized financial advice.
2.7 Quantitative Factor Diagnostics
Model basis: Daily issuer USD excess returns are regressed in-sample using ordinary least squares on matching regional Fama–French factors. FF3 estimates market, size, and value loadings; FF5 adds profitability and investment. Coefficients are descriptive historical exposures, not predictions.
| Estimation input | Value |
|---|---|
| Regional factor set | US |
| Factor-return currency | USD |
| Issuer-return basis | USD adjusted total return |
| Estimation window | 2025-08-19 to 2026-06-30 |
| Aligned daily observations | 217 |
| Minimum observation requirement | 120 |
| Currency conversion for HK listings | not required |
Fama–French Three-Factor and Five-Factor Results
| Diagnostic | FF3 | FF5 |
|---|---|---|
| Annualised alpha | -13.10% | -2.23% |
| Adjusted R² | 0.02 | 0.06 |
| Annualised residual volatility | 24.27% | 23.70% |
| Factor loading (t-statistic) | FF3 | FF5 |
|---|---|---|
| Market excess return (Mkt-RF) | -0.19 (-1.35) | 0.06 (0.37) |
| Size (SMB) | 0.34 (1.77) | 0.36 (1.75) |
| Value (HML) | 0.12 (0.71) | -0.13 (-0.66) |
| Profitability (RMW) | NM | 0.44 (2.58) |
| Investment (CMA) | NM | 0.38 (1.29) |