Equity Analysis

AO's steady climb

AO began in 2000 and came to the stockmarket in 2014 with the air of an insurgent: an online specialist trying to do for bulky household goods what others had done for books or fashion. The journey...

Hero MotoCorp is Cruising along the Highway

With the auto industry clocking a staggering 28 million total registrations in 2025, Hero MotoCorp's spreadsheets are looking hot-and we mean that in the best way possible. The homegrown heavyweight...

ANA Holdings is really Taking Off

ANA Holdings Inc. is shaping up as an aviation company, pairing disciplined execution and resilient earnings with premium network expansion, fleet renewal, and strategic diversification, while...

Asseco Poland: 2025 results in line with our estimates. Record dividend and backlog.

Earnings/Sales releasesIn Q4 25, Asseco Poland's results were 11-12% below PAP consensus on EBITDA and EBIT level. However, compared to our full-year 2025 forecasts, the results were in line....

Emeis: Pivot from firefighting to foundations

Earnings/Sales releases Emeis delivered higher-than-expected recurring EBIT, though the net loss was wider than anticipated. The Group is now shifting towards a more selective and opportunistic...

Computershare Powers a Durable Growth Engine

Computershare Limited enters the next phase in its development as a resilient, capital-light financial services platform, combining diversified fee-based growth, disciplined execution, and...

Arabian Internet and Communication is Driving Growth through Services Mix

Arabian Internet and Communication Services Company continues to benefit from Saudi Arabia's accelerating digital transformation, yet investor enthusiasm has cooled sharply despite solid operational...

Canadian National Railway Company Chugs Past Trade Barriers

The rail giant spent most of 2025 putting out fires. By leaning into the e-commerce boom and tightening the belt on fuel, it navigated the potential train wreck into a surprisingly steady balance...

Sensitive issues and market correction at Ferrari

The supercar manufacturer is facing its sharpest stock market slump since its initial public offering a decade ago.

What if we missed the industrial innovation of 2025?

Some announcements generate significant buzz. Others, more discreet, could nonetheless have greater industrial consequences. This may be the case for Air Liquide, which in November 2025, announced the...

Mapfre: Q1 2026 preview: Heading for a positive surprise?

Latest Mapfre held a pre-close call with analysts yesterday, conveying an overall positive tone. We believe Q1 results could surprise positively when published on 29 April. Ahead of this release, we...

The Duval family throws in the towel at Eramet as the group seeks a white knight

There has been a string of disasters for the French mining group, which has been caught in a swirl of bad news over the past few quarters.

Renesas Navigates Revenue Headwinds, Shares Rally

Renesas Electronics Corporation embodies Japan's semiconductor resurgence. Although recent automotive softness has pressured top-line growth and profitability, the chipmaker's fortunes are reversing...

Dana Gas is Fighting the Global Fire

Even as the giant made some serious power moves in Kurdistan, they were sidelined by the global oil market in 2025. The last year served as a bit of a reality check - their groundwork hit a wall of...

Info Edge Leverages Scale, Growth and Profitability

India's digital economy is firing on all cylinders, and Info Edge Limited sits right in the middle of this transformation. While the company's recruitment and real estate platforms are capturing...

Hong Kong Cruises past Wall Street and Europe in the IPO Race

Hong Kong has not seen such a start in five years. Driven by the explosion of artificial intelligence, the financial hub is breaking records and reclaiming its position as the preferred gateway for...

Techtronic Industries is Clearly Wired for Growth

Techtronic Industries Company Limited enters the next growth phase with strong earnings momentum, a diversified global manufacturing base, and leading professional and consumer cordless platforms,...

Eagers Automotive Unlocks Growth Through Strategic Alliances

Eagers Automotive Limited is rewriting the rules, transforming into a digital-age mobility powerhouse. The company's aggressive conquest of the booming electric vehicle market, coupled with savvy...

Descartes is Charting a Bullish Course with AI

As geopolitical friction and supply chain bottlenecks cripple traditional shippers, the Descartes Systems Group is leveraging its massive digital network. By blending aggressive M&A tactics and AI...