Analysis

The Latest from Equities News


September 28, 2020
MAS – Market expectations are for Uniform ROA to reach new peaks, but management may have concerns about sales, their supply chain, and demand
Masco Corporation (MAS:USA) currently trades near historical averages relative to UAFRS-based (Uniform) earnings, with an 18.3x Uniform P/E. At these levels, the market has bullish expectations for the firm, while management may have concerns about sales declines, supply chain disruptions, and demand recovery
September 25, 2020
SWK – Market expectations are for Uniform ROA to remain stable, but management may be concerned about margins, products, and acquisitions
Stanley Black & Decker, Inc. (SWK:USA) currently trades near corporate averages relative to UAFRS-based (Uniform) earnings, with a 20.6x Uniform P/E. At these levels, the market has expectations for profitability to remain stable
September 24, 2020
MO – Market expectations are for Uniform ROA to decline, but management is confident about the on! brand and OCI growth
Altria Group, Inc. (MO:USA) currently trades below historical averages relative to UAFRS-based (Uniform) earnings, with an 11.7x Uniform P/E. At these levels, the market has bearish expectations for the firm
September 24, 2020
Valens Research – UAFRS vs As Reported Weekly Highlights – September 24, 2020
Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals. Company Specific Highlights & Insights
September 23, 2020
EPAM – Market expectations are for Uniform ROA to improve, but management may have concerns about revenues, employee utilization, and SG&A
EPAM Systems, Inc. (EPAM:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 43.8x Uniform P/E. At these levels, the market has bullish expectations for the firm
September 22, 2020
SNAP – Market expectations are for Uniform ROA to expand, but management may have concerns about growth, e-commerce, and community strength
Snap Inc. (SNAP:USA) currently trades near historical highs relative to Uniform assets, with a 13.3x Uniform P/B. At these levels, the market has bullish expectations for the firm
September 22, 2020
Valens Equity Weekly Insights and Inflections for September 22, 2020
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: URI – United Rentals, Inc.  Other Highlights: ABT, AMD, ATVI
September 21, 2020
DHR – Market expectations are for Uniform ROA to reach new peaks, but management may be concerned about their revenue, Cytiva, and investments
Danaher Corporation (DHR:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 35.8x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm
September 18, 2020
PM – Market expectations are for Uniform ROA to remain flat, and management may have concerns about IQOS, down-trading, and international markets
Phillip Morris International Inc. (PM:USA) currently trades near recent averages relative to UAFRS-based (Uniform) earnings, with a 16.8x Uniform P/E. At these levels, the market is pricing in expectations for profitability to remain fla
September 17, 2020
ABT – Market expectations are for Uniform ROA to reach new peaks, and management is confident about their products, pipeline, and business recovery
Abbott Laboratories (ABT:USA) currently trades above historical averages relative to UAFRS-based (Uniform) earnings, with a 29.6x Uniform P/E. At these levels, the market has bullish expectations for the firm
September 17, 2020
Valens Research – UAFRS vs As Reported Weekly Highlights – September 17, 2020
Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals. Company Specific Highlights & Insights
September 16, 2020
AMD – Market expectations are for Uniform ROA to expand to record-highs, and management is confident about their PC business, customers, and wins
Advanced Micro Devices, Inc. (AMD:USA) currently trades above recent averages relative to UAFRS-based (Uniform) earnings, with a 42.5x Uniform P/E. At these levels, the market has bullish expectations for the firm
September 15, 2020
URI – Market expectations are for Uniform ROA to decline, but management is confident about market recovery, ROIC, and spending
United Rentals, Inc. (URI:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 17.6x Uniform P/E. At these levels, the market has bearish expectations for the firm
September 14, 2020
TSLA – Market expectations are for Uniform ROA to reach new peaks, but management may have concerns about margins, products, and their manufacturing advantage
Tesla, Inc. (TSLA:USA) currently trades near historical highs relative to UAFRS-based (Uniform) earnings, with a 122.2x Uniform P/E. At these levels, the market has bullish expectations for the firm
September 11, 2020
AER – Market expectations are for further Uniform ROA declines, but management is excited about the airline industry’s path and confident about cash collection
AerCap Holdings N.V. (AER:USA) currently trades below corporate averages relative to UAFRS-based (Uniform) earnings, with a 16.7x Uniform P/E. At these levels, the market has bearish expectations for the firm
September 10, 2020
ALGN – Market expectations are for slight Uniform ROA expansion, but management may have concerns about their digital platform, Invisalign treatment, and margins
Align Technology, Inc. (ALGN:USA) currently trades above historical averages relative to UAFRS-based (Uniform) earnings, with a 70.5x Uniform P/E. At these levels, the market has bullish expectations for the firm
September 10, 2020
Valens Research – UAFRS vs As Reported Weekly Highlights – September 10, 2020
Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals. Company Specific Highlights & Insights
September 9, 2020
GNRC – Market expectations are less bullish than warranted given management’s confidence about their M&A, Northern California, and PowerPlay CE
Generac Holdings Inc. (GNRC:USA) currently trades at a historical high relative to UAFRS-based (Uniform) earnings, with a 28.2x Uniform P/E. However, even at these levels, the market only has modest expectations for the firm
September 8, 2020
ACC – Market expectations are for record-high Uniform ROA, but management may have concerns about liquidity, leasing activity, and residents
American Campus Communities, Inc. (ACC:USA) currently trades above corporate averages relative to UAFRS-based (Uniform) earnings, with a 50.7x Uniform P/E. At these levels, the market has bullish expectations for the firm
September 8, 2020
Valens Equity Weekly Insights and Inflections for September 8, 2020
Each week, the Valens Research team highlights our most interesting insights from across our tools and our analysis, including individual company, industry, and macro insights. Top Highlight: BHC – Bausch Health Companies Inc. Other Highlights: CRUS, CTAS, SONO