VIP Industries: The April Billings Number the Market Hasn’t Priced
Retailer billings grew more than 30% year-on-year in April 2026. That sits on the other side of a quarter where the company posted a ₹1,289 million ne…
Meitu’s Subscriber Math Has Outrun Its Headline Earnings
Start with the figure that frames the whole position: 17.9 million global paying subscribers, up 30.2% year over year as of the Q1 2026 operating upda…
Pro Medicus at 64x: The Contracted Revenue Math the Discount Ignores
Forward contracted revenue crossed A$1 billion for the first time this year. That single line is the spine of the case for paying up here. It means a …
LG Electronics at 58x: The Arithmetic of a Robotics Re-Rating
Start with what the price is claiming. At 380,500 won against a trailing net income of 1.22 trillion won, the market has assigned LG Electronics a mul…
SoftBank at 8,541: A 17% NAV Discount the Market Hasn’t Closed
Start with the gap. Even after the stock doubled in three months, SoftBank still trades at roughly a 17% discount to net asset value as last marked. T…
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…