Latest news with #institutionalinvestors
Khaleej Times
a day ago
- Business
- Khaleej Times
Private credit set to become a part of institutional investor portfolios
Private credit is set to become a part of all institutional investor portfolios globally, especially as investors seek yield in a higher interest rate, lower-beta environment, an industry veteran said. 'Over the next 5–7 years, the asset class will mature further in Asia, driven by bank's doing more plain vanilla lending, rising corporate borrowing needs, and increased investor appetite for fixed income alternatives,' Kanchan Jain, Head at Ascertis Credit Group, said. Excerpts from an interview: With increasing interest from GCC-based sovereigns and family offices in Asian private credit, are you seeing more opportunities for cross-regional partnerships or capital flows into your funds from the Middle East? GCC based sovereigns and family offices have been long-time supporters of Asian and Indian strategies but of late we are seeing an increasing interest from GCC based sovereigns and family offices in Asia and India private credit strategies. They are recognising the benefit of adding private credit strategies to their portfolio and exploring the best fit for them i.e through strategic investments, fund investments, directs and/or co-investments. We are also seeing increasing conversations around cross-regional partnerships as well capital deployment at scale. With over $1 billion deployed and four successful funds, how is Ascertis positioning its upcoming fifth fund in the current macroeconomic landscape, particularly in Asia ex-China markets? Ascertis Credit's latest fund is being launched at a pivotal time when companies across Asia are actively seeking non-dilutive growth capital amidst tightening bank lending. The Fund operates in the high-growth, underpenetrated private credit markets of India and Singapore-SEA, offering significantly outsized returns compared to developed markets. These markets are characterized by strong growth prospects, well-entrenched market positions, and lower leverage of good size, established companies. This geographic footprint also provides strong diversification benefits away from the headwinds created through ever-shifting geopolitics and risk of slowdown in largest developed markets in the West. The Indian economy represents one of the fastest growing large economies globally and is expected to grow at a CAGR of c. 6-7% in real terms, which translates to high teens nominal CAGR for most growing and well-established corporates with a significant need for customized capital. Beyond India, there is untapped potential in the various markets that collectively make up SEA where constituting countries have witnessed robust economic growth, reflected in their GDP expansion. A number of such companies are headquartered or have significant presence in Singapore and represent strong investment profiles. Singapore also provides a strong jurisdiction in terms of legal and creditor rights. Data from World Economic Forum suggests that over a ten-year period (2012 – 2022), ASEAN countries have accounted for 9% of global GDP growth – paralleled by the growth in the size of its banking and credit markets[1]. With a target size of $750 million to $1 billion, the fund will continue the firm's legacy of targeting high-quality, cash-generative businesses with a clear focus on capital preservation and strong governance. By leveraging macroeconomic trends—such as India's infrastructure boom, Southeast Asia's rising middle class, and the global shift towards diversified supply chains—Ascertis Credit aims to capitalize on underserved yet robust credit opportunities in the region. India and Southeast Asia are rapidly growing credit markets but remain significantly underpenetrated. What makes these regions uniquely attractive to Ascertis, and how do you navigate the associated risks? India and Southeast Asia offer a unique confluence of macroeconomic tailwinds, structural reforms, and demographic momentum. India, in particular, is projected to be the world's third-largest economy by 2027, with consistent GDP growth driven by policy reforms, digital inclusion, and a thriving entrepreneurial ecosystem. In addition to its market size, India's allure lies in the strength of its financial market institutions, democratic form of governance, vast domestic market and commitment to economic reforms resulting in a steady and consistent deal flow of diverse investment opportunities across sectors. The sheer breadth and depth of opportunities available from technology and manufacturing to infrastructure and consumer goods in the Indian private credit market distinguishes it from the private credit opportunities available in other emerging economies. The Singapore-SEA bucket focuses on the attractive deal flow of US$ transactions for Singapore-based sponsor and non-sponsor businesses that are well established with regional footprint and need bespoke non-dilutive capital for growth. Singapore serves as a financial gateway to Southeast Asia, offering regulatory stability and access to regional deal flow. Collectively, ASEAN has witnessed robust economic growth, reflected in its GDP expansion. Data from World Economic Forums suggests that over a ten-year period (2012 – 2022), ASEAN countries have accounted for 9% of global GDP growth – paralleled by the growth in the size of its banking and credit markets. The broader geographic focus to include Singapore-SEA helps the strategy benefit from diversification, lower FX drag on account of US$ transactions, and lower withholding taxes on US dollar transactions. Ascertis Credit addresses various risks through its proven and tested underwriting and risk management model, targeting established companies with a track record, investing via secured lending and using strong structuring mechanisms and credit enhancement features such as security, ringfencing assets, escrows and guarantees, as applicable along with strong covenants to create a strong investment profile. Our investment process is anchored in deep underwriting, ongoing monitoring, and a strong emphasis on compliance—enabling it to navigate volatility while preserving investor capital. Ascertis Credit today manages capital for several global, marquee institutions across NA, ME and Asia, and continues to see increasing appetite for its funds on the back of the strong track record delivered by it existing funds. Ascertis Credit is committed to scaling its performing private credit platform, diversifying its offerings across tenors, sectors and geographies, and continuing to lead with its solution-oriented investment philosophy. The firm's recent launch of a short-term income fund within the performing credit fund series reflects its responsiveness to evolving investor needs, while its upcoming flagship fund reinforces its commitment to long-term, structured private credit. With a seasoned team, proven track record, and regional depth, Ascertis Credit is poised to shape the next phase of private credit growth across Asia. Ascertis Credit has emerged as one of Asia's leading private credit managers. What has been the core strategy behind your success over the past decade, especially in sourcing off-market opportunities? As a pioneer and one of the longest investors' in the private performing credit investor in India, Ascertis Credit has built a reputation for delivering bespoke, risk-adjusted private credit solutions to high-growth companies in India and Southeast Asia. This source of capital is often seen to be critical in allowing existing established companies to take advantage of the strong growth prospects in their sector. The firm's success is anchored in its ability to source proprietary, off-market transactions through a unique sourcing engine of c. 500 relationships that the company has built over the years. This has been made possible by its long-standing on the ground presence in India and Singapore, deep local relationships spreading across Tier 2 and 3 cities in India, and a sector-agnostic approach focused on performance and structure over size. This approach has allowed Ascertis Credit to generate consistent and strong returns for its investors across all its funds, and provide access to high growth companies that are not accessible through public markets or typical private equity strategies. Additionally, since the underying exposure is secured debt, the return profile is much stronger and returns more reliable. Over the 11 years, the team has raised four funds and invested over US$ 1.2 billion across portfolio companies in diversified sectors. Ascertis Credit's investment focus is on Asia ex-China, with an emphasis on India and Singapore-SE Asia, representing some of the region's fastest-growing yet underpenetrated credit capital markets.
Forbes
2 days ago
- Business
- Forbes
6 Best Growth Stocks To Buy For June 2025
The best growth stocks are well-run companies that innovate to create value for their customers. Many growth stocks lost value in the heat of the whiplash tariff announcements in early April. As a group, they're crawling their way back towards positive for the year, at least according to the Russell 1000 Growth index. The current window for capturing good prices on growth stocks may be closing. If you prefer not to wait for the next round of selloffs and you're ready for some investing inspiration, take a look at the six promising growth stocks below. These six best growth stocks have strong recent and projected sales and earnings per share (EPS) growth, plus conservative debt-to-equity (DTE) ratios. They are also more than 50% owned by institutional investors, such as hedge funds, mutual funds, exchange-traded funds, insurance companies and other large money managers. These are folks with access to sophisticated research teams and tools. When this crowd loves a stock, it signals confidence in that company's growth prospects. Here are the exact screening metrics used to identify these growth stocks: The table below introduces the six best stocks to buy now, according to the above parameters. A more detailed review of each stock follows. For more investing ideas, see best stocks for 2025 and long-term growth stocks. Nvidia designs and sells semiconductors and related hardware. The company also maintains a suite of software development tools. Customers include automotive OEMs, device manufacturers, cloud providers, internet companies and distributors. Nvidia has a dominant market share in AI-capable chips used in data centers. The company's products also have automotive, gaming, robotics and telecommunications applications. It's commonplace to see Nvidia in a list of top growth stocks. The magnitude of the company's growth trajectory almost demands it. Since early 2023, Nvidia has increased annual sales from $26 billion to $130 billion, while its market cap has ballooned from $500 billion to $3.3 trillion. That happened after the company had raised annual sales by about 25% on average in the previous five years. AI adoption fueled this recent growth phase, but Nvidia has a long history of vision, innovation and execution—the trifecta of success factors in technology. While the biggest gains are already on the books, Nvidia isn't likely to stop growing. The company has $53.7 billion of cash on its balance sheet, plus a savvy founder/CEO to keep competition at bay. For the first quarter 2026, Nvidia reported quarter-over-quarter sales growth of 69% and adjusted diluted EPS growth of 27%. The results included a $4.5 billion charge resulting from changes in the U.S. government's policy on chip sales to China. Analysts expect Nvidia to deliver 56% revenue growth and 50.7% EPS growth in fiscal 2026. Tradeweb builds and maintains investment trading marketplaces for stocks, bonds, credit, derivatives and other asset classes. The technology focus is on faster trades and data transparency. Clients are institutional investors and wealth managers. Tradeweb values its total addressable market at $8.9 trillion. With annual sales of $1.8 billion, the company owns only a sliver of the market. The largest opportunities are in ETFs and credit, where Tradeweb has 6% and 17% market share, respectively. The growth plan involves acquisitions and customer-driven technology innovation, particularly in rules-based trading. Tradeweb has expertise in automation. It launched its flagship Automated Intelligent Execution (AiEX) tool for U.S. Treasuries in 2012. As rules-based trading has become more popular, so has AiEX. The company is also incorporating AI to provide customers with advanced analytics before and after trades. For the first quarter 2025, Tradeweb reported quarter-over-quarter sales growth of 24.7% and diluted EPS growth of 16.9%. For the full year 2025, analysts expect sales and EPS increases of 23.3% and 51.6%, respectively. builds and maintains software that business teams use to manage projects, collaborate, track sales leads and organize software development workflows. Customers include businesses, educational institutions and governments. solutions fit in between overbuilt, expensive enterprise applications and off-the-shelf software that can't fully address a team's unique workflows. The company's Work Operating System is a modular, customizable system clients can use to build the tools they need, without the expense and extended implementation timeline—two hallmarks of enterprise software. The functional, but robust product offering has propelled the company's sales from $161 million in 2020 to $972 million last year. In that time, has made strong progress moving up-market to a higher-dollar customer base, which is a key element of the growth strategy. While earnings just turned positive in 2024, free cash flow in both 2023 and 2024 exceeded $200 million. As of March 31, 2025, the company had $1.5 billion in cash on its balance sheet, an ample source of growth funding. In its first quarter 2025 earnings release, reported 30% quarter-over-quarter sales growth, 38% more customers worth $50,000-plus in annual sales and a non-GAAP operating margin of 14%. Analysts expect to produce 28% sales growth and 523% EPS growth in 2025. Nova provides equipment, technology and solutions to help semiconductor manufacturers produce chips faster and more efficiently. The company specializes in dimensional metrology solutions, which provide precision size and shape measurements. Nova solutions address multiple stages of the semiconductor manufacturing lifecycle. Customers include leading integrated circuit manufacturers in Asia, Europe and North America. Semiconductor manufacturing is a thriving industry. According to a recent Deloitte report, 2024 semiconductor sales grew 19% to $627 billion. Expected 2025 sales are $697 billion, placing the industry on an easy pace to reach $1 trillion in sales by 2030 and $2 trillion by 2040. Nova's role in helping manufacturers improve efficiency and output is critical to that growth. The company has an interesting mix of advantages: innovative technologies, a high-margin business model and ample growth opportunity. With that foundation, the leadership team is targeting $1 billion in sales by 2027. The 2027 outlook also includes a gross margin of 57% to 60%, R&D spend of 15% to 17% of sales and EPS close to $10—a 75% increase from the 2024 EPS of $5.75. For the first quarter, Nova reported 50% sales growth and 77% GAAP diluted EPS growth vs. the prior-year period. Analysts expect Nova to deliver sales growth of 30% and EPS growth of 49% in 2025. Krystal Biotech develops and sells genetic therapies treating rare diseases. In 2023, the company received FDA approval for Vyjuvek, the first treatment for the skin disorder dystrophic epidermolysis bullosa (DEB). Vyjuvek is now available in the U.S. and expanding globally. Krystal Biotech additionally has five active clinical programs addressing cystic fibrosis, solid tumors and another skin disorder, lamellar ichthyosis. Krystal Biotech focuses on identifying therapies for conditions with high unmet needs. As an example, before the U.S. launch of Vyjuvek, there was no treatment for DEB despite the severity of the disease. DEB is associated with recurring and chronic wounds that are costly to treat, as well as increased risk of squamous cell carcinoma. The company is also developing a treatment for Apha-1 Antitrypsin Deficiency (AATD), a disorder that precedes progressive lung disease. More than 250,000 patients worldwide have AATD. There is no cure and treatment options are limited. KRYS additionally has scalable, in-house manufacturing capacity to support Vyjuvek's global expansion and other growth opportunities. Krystal Biotech began generating revenue in 2023. 2024 sales eclipsed $290 million, and EPS totaled $3 per share. Analysts expect 48.7% revenue growth and 104.3% EPS growth this year. Liquidity Services sells its clients' surplus assets on the world's largest B2B ecommerce network, via self-serve and fully managed auction offerings. Operating in more than 100 countries, the company has 5.7 million registered buyers and facilitates 1 million transactions annually. Liquidity Services adds value on three levels. Clients have an easy solution for liquidating unneeded assets, buyers have access to assets at liquidation pricing and landfills have less waste to process. The company also has an enviable client list spanning multiple industries and regions. Chevron, Shell, Sony, Volvo, P&G, Walmart and Amazon are among the names that LQDT services. The company values its addressable market at over $130 billion, which it breaks down into five sectors: Liquidity Services has regularly increased its gross merchandise volume and revenue since fiscal 2021. In its most recent quarter, LQDT reported sales growth of 27% and GAAP diluted EPS growth of 22%. Analysts expect a 35% revenue increase and a 99% increase in EPS in fiscal 2025. Bottom Line Growth stocks can move fast, up and down. Opt for well-run companies that innovate to create value for their customers. Those qualities help growth players thrive in good times and survive in bad ones.
Globe and Mail
3 days ago
- Business
- Globe and Mail
Dear Palantir Stock Fans, Mark Your Calendars for June 30
Palantir Shares (PLTR) have rallied more than 50% over the last three months and touched a new all-time high of $134.48 today, June 2. However, as the firm enters the large-cap universe, new turbulence is likely to ensue. Trivariate Research has marked Palantir as an 'extreme outlier' in value, one of the most pricey stocks the firm has covered in 25 years. With S&P Global index rebalancing planned for June 30, institutional investors can now take advantage of the window to cut their exposure, which can lead to rotational flows out of the name. This comes against the background of general market instability, with the S&P 500 Index ($SPX) and the Dow Jones Index ($DOWI) falling by 0.6% last Wednesday despite PLTR moving slightly upward. With valuation indicators flashing warning signs and comparative historical indicators calling for restraint, Palantir's premium status can be expected to come under its first major test. Regarding Palantir Stock Palantir Technologies (PLTR) is an enterprise software firm that is focused on AI-driven data integration and decision platforms for government and commercial clients. With a market capitalization close to $311 billion, it is firmly placed in the large-cap space. The company stock has gained a whopping 510% over the last 52 weeks. That is way more than the overall S&P 500 Index, which rose around 12% over the same period. Palantir stock is up by 7.3% in the last five days alone. No matter how good price momentum is, there are still valuation measures indicating overexuberance. Palantir has an astronomical forward price-earnings multiple of 330.6x as well as an over 100x price-sales multiple. That is well above software historical averages and indicates ongoing 40% revenue growth every year for ten consecutive years, something which no peer has ever come close to doing on Palantir's current size, notes Trivariate Research. Palantir Beats on Earnings and Raises Guidance Palantir delivered a strong Q1 2025 earnings report, with revenue of $884 million, up 39% year-over-year and 7% quarter-over-quarter, exceeding expectations. U.S. revenue surged 55% YoY to $628 million, with U.S. commercial revenue expanding 71% YoY to $255 million, surpassing a $1 billion annual run rate. The company posted adjusted EPS of $0.13 versus $0.08 GAAP EPS, supported by a 44% adjusted operating margin and adjusted free cash flow of $370 million, or a 42% margin. GAAP net income rose to $214 million, a 24% margin. Key operational metrics further confirmed momentum. Palantir closed 139 deals over $1 million, including 31 above $10 million. It also booked $810 million in U.S. commercial total contract value, up 183% year-over-year, and reported a U.S. commercial remaining deal value of $2.32 billion, up 127% YoY. Looking ahead, Palantir raised full-year revenue guidance to a range of $3.89 billion to $3.902 billion, representing 36% growth, with adjusted income from operations expected between $1.711 billion and $1.723 billion. The company also boosted its adjusted free cash flow outlook to $1.6 billion to $1.8 billion and guided Q2 revenue to $934 billion and $938 million. Management reiterated expectations for GAAP profitability in every quarter of 2025. What Analysts Foresee for Palantir Stock Sentiment among analysts is still mixed. Palantir has a current 'Hold' consensus, but most companies are hesitant based on price. Palantir has an average price target of $93, which represents downside potential of about 30%. The substantial price target spread indicates increasing concern regarding high multiples, particularly against the background of market rotation or macroeconomic-driven correction.
Yahoo
4 days ago
- Business
- Yahoo
With 64% ownership, insiders at Morguard Corporation (TSE:MRC) are pretty optimistic and have been buying recently
Morguard's significant insider ownership suggests inherent interests in company's expansion The largest shareholder of the company is Kuldip Sahi with a 63% stake Insiders have been buying lately This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. A look at the shareholders of Morguard Corporation (TSE:MRC) can tell us which group is most powerful. The group holding the most number of shares in the company, around 64% to be precise, is individual insiders. In other words, the group stands to gain the most (or lose the most) from their investment into the company. And looking at our data, we can see that insiders have bought shares recently. This could signal that stock prices could go up and insiders are here for it. In the chart below, we zoom in on the different ownership groups of Morguard. View our latest analysis for Morguard Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. As you can see, institutional investors have a fair amount of stake in Morguard. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Morguard's historic earnings and revenue below, but keep in mind there's always more to the story. Hedge funds don't have many shares in Morguard. The company's CEO Kuldip Sahi is the largest shareholder with 63% of shares outstanding. This essentially means that they have significant control over the outcome or future of the company, which is why insider ownership is usually looked upon favourably by prospective buyers. In comparison, the second and third largest shareholders hold about 12% and 0.8% of the stock. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. Our most recent data indicates that insiders own the majority of Morguard Corporation. This means they can collectively make decisions for the company. Given it has a market cap of CA$1.2b, that means they have CA$763m worth of shares. It is good to see this level of investment. You can check here to see if those insiders have been buying recently. The general public, who are usually individual investors, hold a 22% stake in Morguard. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. While it is well worth considering the different groups that own a company, there are other factors that are even more important. Case in point: We've spotted 2 warning signs for Morguard you should be aware of, and 1 of them is concerning. Ultimately the future is most important. You can access this free report on analyst forecasts for the company. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
With 63% ownership, Altria Group, Inc. (NYSE:MO) boasts of strong institutional backing
Given the large stake in the stock by institutions, Altria Group's stock price might be vulnerable to their trading decisions A total of 25 investors have a majority stake in the company with 44% ownership Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. If you want to know who really controls Altria Group, Inc. (NYSE:MO), then you'll have to look at the makeup of its share registry. And the group that holds the biggest piece of the pie are institutions with 63% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Because institutional owners have a huge pool of resources and liquidity, their investing decisions tend to carry a great deal of weight, especially with individual investors. Hence, having a considerable amount of institutional money invested in a company is often regarded as a desirable trait. In the chart below, we zoom in on the different ownership groups of Altria Group. Check out our latest analysis for Altria Group Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. Altria Group already has institutions on the share registry. Indeed, they own a respectable stake in the company. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Altria Group, (below). Of course, keep in mind that there are other factors to consider, too. Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Altria Group is not owned by hedge funds. The Vanguard Group, Inc. is currently the company's largest shareholder with 9.4% of shares outstanding. With 7.4% and 4.6% of the shares outstanding respectively, BlackRock, Inc. and Capital Research and Management Company are the second and third largest shareholders. A deeper look at our ownership data shows that the top 25 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. Our information suggests that Altria Group, Inc. insiders own under 1% of the company. Being so large, we would not expect insiders to own a large proportion of the stock. Collectively, they own US$88m of stock. It is always good to see at least some insider ownership, but it might be worth checking if those insiders have been selling. With a 37% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Altria Group. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. It's always worth thinking about the different groups who own shares in a company. But to understand Altria Group better, we need to consider many other factors. Take risks for example - Altria Group has 2 warning signs (and 1 which can't be ignored) we think you should know about. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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