In this article I look at Mastercard Incorporated's (MA) current valuation based on guidance provided with the release of Q2 and YTD 2019 results on July 30, 2019. Summary Mastercard is an extremely high quality business with a superior business model that results in significant profits and Free Cash Flow. MA’s growth will come from [...]
This Automatic Data Processing, Inc. (ADP) article analyses Q4 and FY2019 results, FY2020 guidance, and amended FY2021 targets which were released July 31, 2019. Summary ADP should benefit from the evolving and increasingly complex relationship between businesses and their employees, changes in the US tax code, labor regulation and benefit compliance. Investors with a low [...]
McDonald's Corporation (MCD) released Q2 and YTD results on July 26, 2019. I anticipate further improvements from its Growth Strategy which was launched in 2017 and am optimistic in its long-term growth prospects in China where there is ample opportunity to increase penetration in a country of 1.4 billion people. Summary MCD’s top line has [...]
This is my July 2019 FFJ Portfolio update. The portfolio was created in January 2017 for the purpose of demonstrating how investing in high quality companies with competitive advantages and with a record of consistently increasing dividends can assist investors in reaching their long-term financial goals without the need to speculate or to chase dividend [...]
AT&T Inc. released Q2 2019 and YTD 2019 results July 24, 2019. It has generated ~$29B in free cash flow over the last 12 months and full-year free cash flow guidance is now ~$28B. In addition to reducing net debt by ~$6.8B in Q2, T has repaid ~$18B of debt subsequent to the June 2018 [...]
W.W. Grainger, Inc. released Q2 2019 results and FY2019 on July 24, 2019. Despite softer demand and lowered Sales guidance, management has reiterated Gross Profit Margin, Operating Margin, and adjusted diluted EPS guidance. Summary GWW reported Q2 results on July 24th. Gross and Operating Margins and adjusted EPS guidance have been maintained but sales guidance [...]
I view the Canadian National Railway Company (CNR) as a core long-term holding. This article looks at CNR's valuation based on Q2 2019 results released July 23, 2019 and FY2019 guidance provided at the June 3 - 4 2019 Investor Day. Summary I view CNR as the premier Class 1 North American railroad in that [...]
Stanley Black & Decker's (SWK) share price has appreciated over 30% since I recommended acquiring shares in my January 22nd article. With the release of Q2 results and FY2019 guidance I provide my opinion on SWK's current valuation. Summary On July 23rd SWK reported Q2 2019 results in which $2.66 in Non-GAAP EPS beat estimates [...]
Fastenal Company (FAST) released Q2 2019 results July 11, 2019 in which management indicated that while activity has clearly slowed and there is no panic in the market, sentiment has become more cautious. Summary A $9,000 investment in FAST on the date of its August 20, 1987 IPO would now be worth in excess [...]
Agilent Technologies, Inc. (A) is a global leader in life sciences, diagnostics and applied chemical markets, providing application focused solutions that include instruments, software, services and consumables for the entire laboratory workflow. In mid-May, Agilent released Q2 results in which FY2019 Revenue guidance was lowered but Non-GAAP diluted EPS guidance remained unchanged at $3.03 [...]
