Evidence and analysis
Research evidence pack
Source-backed valuation visuals
2. Company Fundamentals
2.1 Competitiveness
| Metric | Value |
|---|---|
| Operating Margins | 46.03% |
| Profit Margins | 39.06% |
| Return on Equity | 20.18% |
| Return on Assets | 7.21% |
| Free Float | 0.16B |
| Dividend Yield | 3.70% |
| Short Int % Utilisation | 5.03% |
2.2 Growth
| Metric | Value |
|---|---|
| Revenue Growth | 3.2% |
| Free Cash Flow | 2.34B |
| EBITDA | 20.73 (Ratio) |
| Enterprise Value | 71.2B |
| EV/Revenue | 14.62 |
| EV/EBITDA | 20.73 |
Revenue growth of 3.2% suggests mature or challenged top-line momentum.
2.3 Management
| Role | Metric |
|---|---|
| Consensus Rating | N/A |
2.4 Return
| Metric | Value |
|---|---|
| Expected Return (Ann.)* | 23.38% |
| Risk / Std Dev (Ann.)* | 23.11% |
| 1-Year Price Return* | 19.97% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric | Value |
|---|---|
| Last Price | $325.93 |
| 52-Week Range | $256.54 – $335.55 |
| Observation Count | 251 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in US$. 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 | $4.82B | $4.70B |
| Net income | Reported net income | $1.59B | $1.87B |
| Total assets | Year-end reported balance | $20.21B | $19.75B |
| Shareholders’ equity | Year-end reported balance | $9.25B | $9.71B |
| Net margin | Net income ÷ revenue | 32.87% | 39.88% |
| Asset turnover | Revenue ÷ total assets | 0.2387x | 0.2377x |
| Equity multiplier | Total assets ÷ shareholders’ equity | 2.1852x | 2.0339x |
| ROE | Net margin × asset turnover × equity multiplier | 17.14% | 19.28% |
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 | $325.84 |
| Market capitalisation | $60.85B |
| Revenue | $4.82B |
| EBIT | $2.09B |
| Reported free cash flow | $2.90B |
| FCF yield | 4.76% |
| Net debt / EBITDA | 3.06x |
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 17:46:39.237706 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 | -4.25% | 5.79% |
| Adjusted R² | 0.26 | 0.32 |
| Annualised residual volatility | 19.75% | 18.78% |
| Factor loading (t-statistic) | FF3 | FF5 |
|---|---|---|
| Market excess return (Mkt-RF) | 0.50 (4.27) | 0.73 (5.76) |
| Size (SMB) | 0.79 (5.04) | 0.64 (3.98) |
| Value (HML) | 0.42 (3.08) | -0.01 (-0.07) |
| Profitability (RMW) | NM | 0.20 (1.50) |
| Investment (CMA) | NM | 0.95 (4.06) |