Totvs (TOTS3): What a 56% Rule of 40 Score Is Really Worth Over a Decade
Brazilian enterprise software has one trait that matters most: the buyer almost never leaves. A manufacturer running its general ledger, payroll, inve…
Okta’s Cash Margin Is Doing the Talking. Its Operating Margin Is the One I’d Listen To.
The market has decided Okta is an inflection story. Two earnings beats in one quarter-cycle, a 12% net retention figure that held the line, and a fres…
Rolls-Royce: The £11.2bn Aftermarket Line the Multiple Still Underwrites Cheaply
£11.168bn. That is the group aftermarket services line for 2025, against £8.891bn of original-equipment revenue. The split matters more than the headl…
Robinhood at $84: The $67.8 Billion Number the Crypto Miss Buried
Net deposits ran $17.7 billion in the first quarter. Annualized, that is roughly 22% of the deposit base walking in the door under its own power, with…
Wockhardt’s 55% Rally Is Pricing a Drug That Isn’t Approved Yet
The market has decided Wockhardt is a turnaround story with a blockbuster antibiotic attached, and it has done so with conviction. Fifty-five percent …
Lenovo at 24 HKD: The Arithmetic the AI Mix Has to Deliver
Lenovo last traded at 24 HKD, 23% above the consensus target of 18.39 and within reach of the high target at 27. The company earned 0.14 in EPS in FY2…
Elsight Has Priced the Contract Book Twice
The market has settled on a tidy story for Elsight. A run of contract announcements, capped by a US$21.2 million order from a European assembler for e…
NAVER at 234,000: The Buyback Yield the Range Isn’t Pricing
A 6.84% buyback yield frames this. At 234,000 won, NAVER is returning more capital through repurchases than most Korean large caps yield in dividends,…
SUMCO Has Priced the Recovery It Hasn’t Reported Yet
The market has decided SUMCO is an AI wafer story with the kind of conviction that doubles a share price in three months. The narrative fits on an ind…
Sabesp at 28.16: What the Split Mechanics Buried
The consensus average sits at 33.07 against a current 28.16, or roughly 17% headroom. More interesting is what happened on the way down. Almost half o…
Snowflake Priced the Inflection. The Inflection Still Has to Show Up.
The market has decided Snowflake reached its inflection point, and it has receipts. A 40% move in three months, with two-thirds of it packed into the …