In my September 28, 2024 How Stock Based Compensation Distorts Free Cash Flow post, I state that I have been giving more thought to how stock-based compensation (SBC) distorts Free Cash Flow (FCF). In subsequent posts that are accessible through The FFJ Archives, I look at a company's FCF using two methods. The first method [...]
I last reviewed Becton Dickinson (BDX) in this August 6, 2024 post at which time I thought the company was on the path to improved returns; BDX had recently released its Q3 and YTD2024 results and revised FY2024 guidance and announced its plan to acquire Edwards Lifesciences' Critical Care Product Group. On September 3, [...]
I am currently re-reading Richer, Wiser, Happier How the World's Greatest Investors Win in Markets and Life by William Green, a book listed in the Books section of this blog. Over the years, the author interviewed many of the world's prominent investors. They spoke candidly about their setbacks and challenges and shared the most valuable [...]
In several previous posts I have touched upon our need to 'meltdown' our Registered Retirement Savings Plans (RRSP) before the mandatory date by which they are automatically converted to Registered Retirement Income Funds (RRIF); the deadline by which a RRSP must be converted to a RRIF is by December 31 of the year the RRSP [...]
I last reviewed Veeva Systems (VEEV) in this August 29, 2024 post at which time the most current financial information was for Q2 and YTD2025. Based on my analysis I opted not to immediately add to my exposure. On November 7, VEEV held its 2024 Investor Day at which time management disclosed its ambitious target [...]
I initiated a CME Group Inc. (CME) position on June 29, 2020 and have increased my exposure over the years. Several aspects of this business appeal to me one of which is that CME is the world's leading derivatives marketplace. In essence, CME is a key provider of products for the purpose of increasing or [...]
Nike (NKE) releases its Q2 and YTD 2025 results on December 19 at which time I intend to revisit this existing holding. The purpose of this brief post, therefore, is merely to disclose that my NKE exposure increased on December 3 with the purchase of 200 shares @ $78.4769 through a 'Core' account within [...]
I last reviewed Agilent (A) in this August 23, 2024 post at which time the most current financial information was for Q3 and YTD2024. With the release of Q4 and FY2024 results and FY2025 outlook after the November 25 market close, I revisit this existing holding. Business Overview When I wrote my prior post, A [...]
The company has been renamed to Zoom Communications, Inc. from Zoom Video Communications, Inc. effective November 25, 2024. Valuing a company based on GAAP and non-GAAP EPS can sometimes lead to poor investment decisions. It is for this reason that I like to look at a company's valuation based on Free Cash Flow (FCF). [...]
Companies with an investor base that expects annual dividend increases are, in my opinion, trapped and should be avoided. Emerson Electric (EMR), a Dividend King because it has consistently increased its annual dividend for at least 50 consecutive years, is a good example. I suspect many of us have investment holdings we rarely/never look at. [...]