Equity Analysis

Thangamayil: All That Glitters Grows

Thangamayil Jewellery is building momentum, with its share performance mirroring investor confidence in its retail push. Stronger same-store sales and richer inventory across diamonds, gold and silver...

EIC's Stellar Growth Boosts Share Value

Exchange Income Corporation has turned vital services into a growth engine, pairing aviation lifelines for remote regions with precision manufacturing that fuels industry progress. After a year of...

Linde plc: FY25 OK. A tick better expected in FY26.

Earnings/Sales releases The group reported expected results for FY25. Management anticipates growth in the coming year, slightly exceeding last year's performance, underscoring the resilience of the...

Gn Store Nord: Q4 miss disappoints the market

Earnings/Sales Releases GN's Q4 results fell short of market expectations. While Hearing experienced healthy growth, this was overshadowed by weaknesses in Gaming and Enterprise. Profitability...

Shell: Shell Q4 2025: Downstream Deterioration and Tax Effects, but Shareholder Distributions Preserved

Earnings/Sales releases Shell reported a Q4 below expectations, with adjusted earnings of $3.26bn , weighed down by non-cash tax effects and a marked deterioration in Downstream. Upstream and...

BNP Paribas: Q4: Crushing Costs, Raising the Bar

Earnings/Sales releases BNP Paribas’ Q4 2025 results featured an underlying pre-tax beat, driven by CPBS recovery and Axa IM integration. The bank over-delivered on cost savings and maintained...

Novo Nordisk: What is Novo really up against?

LatestThe hugely discounted pricing announced by Hims & Hers for copycat pill versions of Novo's semaglutide seems perplexing, as they might not make profits at anything less than $100/month pricing....

Aurubis: Strong metals, weak visibility

Earnings/Sales releases Q1 2026 top line was supported by higher metal prices, but underlying profitability and cash generation weakened. With TC/RC still under pressure, Aurubis is increasingly...

Neste: Good Q4 performance, with capex and turnarounds in focus for 2026

Earnings/Sales Releases After Q4 25 marked by elevated margins, the contribution from Oil Products is expected to decline, reflecting lower 2026 volumes linked to the Porvoo turnaround. Renewable...

Evolution AB: Continued Regional Volatility

Earnings/Sales releases Evolution reported broadly in-line Q4 25 results with market expectations, with revenue declining 3.7% yoy, reflecting ongoing weakness in Europe and softer Live Casino...

Swiss Prime Site: Delivery on track, high stock price, yields struggling

Earnings/Sales releases With superb stock price momentum and a continuously expanding portfolio, SPS continues to thrive. From a Yield perspective, the stock remains a strong hedge; however, returns...

Hannover Rueck: January renewals: Price softening confirmed, but discipline holds

Latest Hannover Re has published an update on the January renewals, following Scor's update yesterday. In our view, the figures confirm a reassuring picture in a context of increased Competition. As...

ARM Holdings plc: Arm's positive results overshadowed by royalty miss and high operating expenses

Earnings/Sales releases Arm reported good Q3 FY26 results, beating consensus slightly and showing strong growth across royalties and licensing. The quarter was supported by continued strength in...

GSK plc: Eventually getting into its stride

Earnings/sales releases The Q4 25 performance exceeded expectations, ensuring that GSK delivered on the higher end of the 2025 guidance. HIV, Respiratory, Immunology and Oncology were the key growth...

Siemens Healthineers: Q1 profitability beat; full-year guidance reaffirmed

Earnings/Sales releases Siemens Healthineers' Q1 profitability exceeded the company-compiled consensus. While sales rose in Q1, growth was limited due to weakness in China. Despite the negative...

Vestas Wind Systems: Q4 misses the mark, 2026 targets already built into a re-rated price

Earnings/Sales Releases Vestas reported a miss on headline figures versus the company-compiled consensus, except on orders, which benefited from strong demand in Onshore. revenue growth was supported...

Svenska Handelsbanken: Q4: Dividends Soar While NII Bleed Continues

Earnings/sales releases Handelsbanken's Q4 results featured strong cost control and a massive 146% total dividend payout, reflecting a more aggressive capital distribution policy. However, NII remains...

Hon Hai Riding Global Electronics Boom

Rising global electronics demand-from AI servers to EVs and renewables-is accelerating Hon Hai's growth, with the contract-manufacturing leader leveraging scale, strategic expansions, smart segments...

Ferretti SPA Surfs Through Macroeconomic Storms

While the broader economy navigates through choppy waters, the world's wealthiest are anchored in an era of unapologetic opulence. This bulletproof demand has worked in Ferretti SPA's favor as the...