Evidence and analysis
Research evidence pack
Source-backed valuation visuals
2. Company Fundamentals
2.1 Competitiveness
| Metric | Value |
|---|---|
| Operating Margins | 11.69% |
| Profit Margins | 10.8% |
| Return on Equity | 28.51% |
| Return on Assets | 7.36% |
| Free Float | 0.14B |
| Dividend Yield | 1.88% |
| Short Int % Utilisation | 1.28% |
2.2 Growth
| Metric | Value |
|---|---|
| Revenue Growth | 4.4% |
| Free Cash Flow | 2.07B |
| EBITDA | 12.66 (Ratio) |
| Enterprise Value | 92.49B |
| EV/Revenue | 2.18 |
| EV/EBITDA | 12.66 |
Revenue growth of 4.4% suggests mature or challenged top-line momentum.
2.3 Management
| Role | Metric |
|---|---|
| Consensus Rating | N/A |
2.4 Return
| Metric | Value |
|---|---|
| Expected Return (Ann.)* | 5.52% |
| Risk / Std Dev (Ann.)* | 26.38% |
| 1-Year Price Return* | 1.90% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric | Value |
|---|---|
| Last Price | $585.87 |
| 52-Week Range | $479.02 – $774.00 |
| Observation Count | 251 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in US$. 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 | $41.95B | $41.03B |
| Net income | Reported net income | $4.18B | $4.17B |
| Total assets | Year-end reported balance | $51.38B | $49.36B |
| Shareholders’ equity | Year-end reported balance | $16.67B | $15.29B |
| Net margin | Net income ÷ revenue | 9.97% | 10.17% |
| Asset turnover | Revenue ÷ total assets | 0.8166x | 0.8313x |
| Equity multiplier | Total assets ÷ shareholders’ equity | 3.0813x | 3.2282x |
| ROE | Net margin × asset turnover × equity multiplier | 25.08% | 27.30% |
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: WACC is outside the permitted 5.00%–30.00% model range. 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 | $593.58 |
| Market capitalisation | $84.33B |
| Revenue | $41.95B |
| EBIT | $5.73B |
| Reported free cash flow | $3.31B |
| FCF yield | 3.92% |
| Net debt / EBITDA | 1.75x |
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 17:43:39.747410 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 | -20.42% | -21.66% |
| Adjusted R² | 0.02 | 0.01 |
| Annualised residual volatility | 25.96% | 25.89% |
| Factor loading (t-statistic) | FF3 | FF5 |
|---|---|---|
| Market excess return (Mkt-RF) | 0.11 (0.70) | 0.09 (0.49) |
| Size (SMB) | 0.37 (1.81) | 0.28 (1.27) |
| Value (HML) | 0.17 (0.94) | 0.08 (0.37) |
| Profitability (RMW) | NM | -0.15 (-0.82) |
| Investment (CMA) | NM | 0.30 (0.92) |