Valuentum Exclusive Analysis for the Discerning Investor

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Jun 19, 2025

Lennar Sees Softness in Housing Market
Image Source: TradingView. On June 16, Lennar Corp. reported mixed fiscal second quarter results with revenue beating the consensus forecast but non-GAAP earnings per share missing the consensus mark. Total revenues fell to $8.4 billion in the quarter from $8.8 billion in the year-ago period, while second quarter net earnings, excluding mark-to-market losses on technology investments were $499 million, or $1.90 per share, compared to $3.38 per share in the same period a year ago.

Jun 19, 2025

Adobe Raises Guidance Due to AI Strength
Image: Adobe’s stock has been choppy the past few years. Adobe’s cash flow from operations was $2.19 billion in the fiscal second quarter, and the firm exited the period with $19.69 billion Remaining Performance Obligations (RPO), with current accounting for 67% of them. During the quarter, Adobe repurchased approximately 8.6 million shares. Looking to all of fiscal year 2025, total revenue is targeted in the range of $23.5-$23.6 billion, better than the consensus estimate of $23.45 billion, while non-GAAP earnings per share is expected in the range of $20.50-$20.70 versus consensus of $20.36. We like Adobe's fundamentals, but don't include shares in any newsletter portfolio.

Jun 15, 2025

Valuentum's Best Ideas Newsletter Portfolio
We disclose the holdings of the portfolio of the Best Ideas Newsletter in this article. This portfolio can always be found in each edition of the monthly Best Ideas Newsletter.

Jun 12, 2025

Oracle Expects Accelerated Growth in Fiscal 2026
Image: Oracle’s shares have broken out to new all-time highs. On June 11, Oracle reported better than expected fourth quarter fiscal 2025 results with revenue and non-GAAP earnings per share exceeding the consensus forecasts. Total revenue was up 11% in the quarter, while the company posted non-GAAP earnings per share of $1.70, up from $1.63 in last year’s quarter and better than the consensus forecast of $1.64. Non-GAAP operating income was $7.0 billion, up 5% in USD and up 4% in constant currency. Fourth quarter remaining performance obligations jumped 41%, to $138 billion. Operating cash flow was $20.8 billion during fiscal year 2025, up 12% in USD.

Jun 10, 2025

Salesforce Raises Full Year Revenue Guidance, Announces Plans to Acquire Informatica
Image: Salesforce’s shares have been choppy the past few years. Salesforce initiated second quarter fiscal 2026 revenue guidance calling for growth of 7%-8% in constant currency, while it raised its full-year revenue guidance to the range of $41-$41.3 billion, up 8% in constant currency and the range above the consensus forecast at the time of the report. Salesforce maintained its full year GAAP and non-GAAP operating margin guidance, as well as its full year operating cash flow guidance of approximately 10%-11% year-over-year growth. Free cash flow is targeted at 9%-10% year-over-year growth for the full year, while non-GAAP earnings per share is expected in the range of $11.27-$11.33 versus consensus of $11.17 per share at the time of the report. We liked Salesforce’s strong first quarter fiscal 2026 results and its raised full year revenue guidance. We have no qualms with its announced acquisition of Informatica, but we don’t include shares in any newsletter portfolio. Shares yield 0.6% at the time of this writing.

Jun 10, 2025

Broadcom Is a Cash Cow
Image: Broadcom’s shares have done quite well the past few years. Broadcom’s cash from operations was $6.6 billion and capital spending was $144 million in the fiscal second quarter, resulting in free cash flow of $6.4 billion, or 43% of revenue. Looking to the third quarter of fiscal 2025 for the period ending August 3, Broadcom expects revenue of approximately $15.8 billion, above the consensus forecast of $15.77 billion at the time of the report, and third quarter adjusted EBITDA of at least 66% of projected revenue. Though we don’t include Broadcom in any newsletter portfolio, the company’s results support an outlook for continued strong AI demand growth. Shares yield 1% at the time of this writing.

Jun 8, 2025

Taiwan Semiconductor Expects Strong Growth in 2025
Image: Taiwan Semiconductor’s shares have done well the past few years. In the first quarter, TSMC’s shipments of 3-nanometer accounted for 22% of total wafer revenue, while 5-nanometer accounted for 36% of total wafer revenue and 7-nanometer accounted for 15%. Strength continued into April where the firm posted revenue growth of 48.1% on a year-over-year basis. Looking to the second quarter, revenue is expected to be between $28.4-$29.2 billion, representing a 38% increase at the midpoint, while its gross margin is targeted between 57%-59% and its operating profit margin is expected to be between 47%-49%. Looking to the full year 2025, revenue is expected to increase by close to mid-20s percent in U.S. dollar terms. The outlook for AI demand remains robust, and we continue to like shares of Taiwan Semiconductor in the ESG Newsletter portfolio.

Jun 5, 2025

Home Depot Expects Modest Sales Growth in 2025
Image: Home Depot’s shares have been choppy the past few years. Looking to fiscal 2025, Home Depot expects total sales growth of approximately 2.8%, with comparable store sales growth of roughly 1% compared to the same 52-week period last year. Gross margin is targeted at 33.4%, while its adjusted operating margin is expected to be 13.4% for the year. Diluted earnings per share is expected to decline approximately 3%, while adjusted diluted earnings per share is targeted to fall approximately 2%. Capital expenditures are budgeted at 2.5% of total sales. Shares yield 2.5% at the time of this writing.

Jun 3, 2025

Dollar General Raises Guidance Despite Tariff Uncertainty
Image: Dollar General’s shares have been under pressure the past few years. Dollar General updated its fiscal year 2025 guidance to reflect first quarter results and tariff uncertainty. Its updated guidance “assumes the company will be able to mitigate a significant portion of the potential impact to its cost of goods sold from tariffs at currently implemented rates, but that consumer spending could be pressured by tariff-related price increases.” As a result of these moving parts, net sales growth for fiscal 2025 is targeted in the range of 3.7%-4.7%, up from prior expectations of 3.4%-4.4%. Same-store sales growth for the year is targeted at 1.5%-2.5% compared to prior expectations of 1.2%-2.2%. Diluted earnings per share is expected in the range of $5.20-$5.80 compared to its prior expectation in the range of $5.10-$5.80. Shares yield 2.4% at the time of this writing.

May 29, 2025

Nvidia Reports Better Than Expected First Quarter Results
Image: Nvidia’s shares are flirting with all-time highs. Nvidia ended the quarter with $53.7 billion in cash and marketable securities versus long-term debt of $8.5 billion. Net cash provided by operating activities was $27.4 billion in the first quarter, up from $15.3 billion in the year-ago period. Free cash flow was $26.2 billion in the quarter, up from $15 billion in the year-ago period. Nvidia is a net cash rich, free cash flow generating, secular growth powerhouse, and we continue to like shares in the Best Ideas Newsletter portfolio. Our fair value estimate stands at $163 per share.