Equity Analysis

XD Inc is Playing to Win

The gaming developer and platform operator is translating operational leverage into shareholder returns, with its shares surging on the back of proprietary IP acquisitions, TapTap's widening moat, and...

CICT Powers Ahead with Acquisition-Led Expansion

CapitaLand Integrated Commercial Trust continues to demonstrate the resilience of Singapore's premier commercial real estate, skillfully navigating market dynamics through strategic acquisitions and...

Talanx: FY25 results: In line with preliminary, dividend & solvency beat

Earnings/sales releases Talanx has released its final FY25 results. As a reminder, the preliminary results had already been published in February, while Hannover Re reported its full-year results a...

Verbund: FY25: Austria's hydro levy caps upside, leaving potential gains only from hydrology

Earnings/Sales releases Verbund’s FY25 print was slightly below expectations, with EBITDA at €2.7bn versus €2.8bn consensus, dragged down by weak hydro. The upside remains capped by Austria’s...

TAG Immobilien: ROBYG's IPO in sight

Earnings/Sales releases TAG Immobilien released good results, exceeding the targets previously raised in November. The company has confirmed its guidance for 2026 and announced a potential IPO for...

Mayr-Melnhof Karton: A mixed end to 2025

Mixed Q4 performance caps a challenging 2025 for Mayr-Melnhof Karton, with resilient packaging offsetting Karton weakness. Management is pushing ahead with Optimisation Programme efforts, balance...

Bolloré: A surprising FY release with a massive, exceptional dividend

Earnings/Sales releases Bolloré completed a calm 2025 year but announced a surprising 4.2bn exceptional dividend. However, Compagnie de l'Odet will redistribute 2/3 of that amount, killing any...

Fraport: FY 2025: Fraport enters its proving ground

Fraport's stronger 2025 results shift the focus back to execution: improving earnings, positive free cash flow, a resumed dividend, and clear steps toward debt reduction, Frankfurt tariff support, and...

HelloFresh: Better profitability in FY25 but weather weighs on the FY26 start

HelloFresh delivered improved profitability in FY25 despite softer revenue, supported by a focus on customer quality and efficiency gains. FY26 guidance points to lower AEBITDA on product...

Lululemon running out of steam

There are no signs of recovery for the sportswear brand, whose tidal wave - now a thing of the past - is leaving nothing but flotsam and jetsam in its wake.

Financial information: AI is far from reliable!

A study conducted by a specialized firm on the financial indicators of CAC 40 groups shows that the responses provided by ChatGPT, Gemini, and Claude clearly lack precision.

AI Ensures ASRock's Scoreboard Stays Green

Known traditionally for its DIY components, ASRock Incorporation is pivoting toward the AI server and industrial computing sectors to outpace global geopolitical instability. While this strategic...

Sunway REIT Makes Hay While the Sun Shines

Sunway REIT enters the new financial year with a stronger momentum, supported by resilient multi-segment performance, expanded asset contributions, and ongoing portfolio enhancement. Its diversified...

Will the law remain on the side of Software for much longer?

A recent judicial ruling favoring Amazon against unauthorized e-commerce data scraping strengthens legal defenses around proprietary datasets, supports competitive moats, and enhances the sector’s...

Sulfur and methanol prices soar on Middle East conflict

The Middle East conflict is tightening global sulfur and methanol markets. Rising demand in Asia is intensifying competition for supply, leaving Europe exposed to higher input costs despite limited...

Lightwave Logic: A technological promise still seeking industrial proof

In search of commercial validation, Lightwave Logic embodies one of those stock market cases where the challenge is not to judge established profitability, but to estimate the credibility of a...

Travis Perkins: FY25: Solid execution despite continued market pressure

Travis Perkins delivered FY25 results ahead of expectations, with stabilising Merchanting volumes, resilient Toolstation UK, and a strong balance sheet bolstered by a notable free cash flow...

Shutterstock sends arbitrageurs into a frenzy

Even though the sword of Damocles of AI hangs above its head, the world's number two stock image provider is in much better financial health than its historic rival Getty, which we discussed this...

Allegro.eu: Solid 2025, but break-even guidance for international marketplaces disappointed us

Chapeau: Allegro Group delivered solid 2025 results with resilient Poland performance, strong Advertising and Logistics momentum, and disciplined leverage. However, 2026 guidance implies slightly...