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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Latest Valuentum Commentary

Apr 4, 2025
Trump Tariffs Higher than Expected; What We're Doing
The Trump tariff increases came in larger than what we were expecting, and it remains to be seen how they will flow through the global economy, as we monitor potential retaliatory tariffs from other countries. As it relates to the equity markets, we’re taking a wait and see approach at the moment as we monitor new policy changes related to trade, immigration, fiscal (tax), and regulations. In short, we’re not overreacting to the sell off as we won’t have a great handle on the tariff impact to companies for a few quarters when they report results post-tariff increases. That said, we’re expecting continued market volatility, with meaningful risk to the downside, before trade uncertainty alleviates in the coming months.
Jan 30, 2025
Microsoft Issues Fiscal Second Quarter Results
Image Source: Microsoft. Looking to the fiscal third quarter, Microsoft expects Azure revenue growth to be between 31%-32% in constant currency. Revenue growth for the fiscal third quarter is expected in the range of $67.7-$68.7 billion, below the consensus forecast of $69.8 billion. For all of fiscal 2025, management expects total revenue to grow double digits, operating expenses to grow in the single-digits, and operating income to grow in the double digits. Operating margins are expected to be up slightly year-over-year. Though Azure revenue growth and fiscal third quarter guidance may have come in a little light of what the Street was looking for, we still like Microsoft as a core idea in the newsletter portfolios.
Jan 5, 2025
Keeping the Horse Before the Cart: Valuentum’s Economic Castle™ Rating
Image shown: An examination of the problem that might arise by focusing exclusively on companies that have economic moats, or sustainable and durable competitive advantages.Without an economic castle, an economic moat doesn’t matter. Let's examine Valuentum's Economic Castle™ rating.
Dec 29, 2024
How Does 37% Sound?
Image: The Schwab U.S. Large Cap Growth ETF (SCHG) is up more than 37% so far in 2024. So what’s the playbook for 2025? You can probably guess that I think large cap growth and big cap tech will continue to lead the markets to new heights. 2024 was a boring year, if a 37% return can be considered boring for large cap growth. Frankly, with the market focusing on macro data and the Fed during 2024, there wasn’t much material to write about. We all already know the story: Inflation is under control, the job market remains healthy, the Fed is cutting, and artificial intelligence will be the name of the game this decade.
Dec 10, 2024
Oracle’s Remaining Performance Obligations (RPO) Growth Speaks to Accelerated Expansion
Image Source: Oracle. We particularly liked Oracle’s growth in total remaining performance obligations (RPO) in the quarter, which were up 49% in USD and 50% in constant currency year-over-year. During the past twelve months, Oracle’s operating cash flow came in at $20.3 billion, while free cash flow was $9.5 billion. The company ended the quarter with $11.3 billion in cash and marketable securities and $88.6 billion in notes payable and other borrowings. Though Oracle has a hefty net debt position and capital spending is expected to double in fiscal 2025, we still like the company’s cloud opportunity, and it remains a key holding in both the simulated Dividend Growth Newsletter portfolio and simulated ESG Newsletter portfolio.
Oct 30, 2024
Microsoft Remains a Net-Cash-Rich, Free-Cash-Flow Generating Powerhouse
Image: Microsoft’s shares continue to flirt with all-time highs. Microsoft ended the quarter with $78.4 billion in cash and short-term investments against long-term debt of $42.9 billion. Cash flow from operations increased to $34.2 billion from $30.6 billion in the year-ago period, while capital spending swelled to $14.9 billion from $9.9 billion in the year-ago quarter. Free cash flow in the quarter of $19.3 billion handily covered cash dividends paid of $5.6 billion over the same time. Microsoft remains one of our top ideas in both the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio.
Sep 20, 2024
Dividend Increases/Decreases for the Week of September 20
Let's take a look at firms raising/lowering their dividends this week.
Sep 19, 2024
Brain Teaser - Reflexive versus Reflective
Image: Amy Leonard. Valuation multiples tend to trigger the reflexive side of our brain, and we process the multiples through anchoring. On the other hand, enterprise valuation, or the process required to answer the questions (in this article) correctly, shows that our reflexive process can be quite incorrect at times. In fact, cognitive biases such as anchoring can completely trip us up into missing out on truly undervalued companies that may have high P/E ratios while baiting us into value traps with low P/E ratios.
Sep 10, 2024
Oracle Expects Increased Revenue Growth Throughout Fiscal 2025
Image: Oracle’s shares have performed quite well during the past couple years. Oracle remains a key idea in both the Dividend Growth Newsletter portfolio as well as the ESG Newsletter portfolio, and its fiscal first quarter results support our bullish take on the name. Though Oracle has a rather large net debt position, free cash flow remains robust, while the company capitalizes on its total remaining performance obligations, which advanced 53% in the quarter on a year-over-year basis. We liked the commentary about revenue growth to accelerate throughout fiscal year 2025, and we point to the high end of our fair value estimate range ($178 per share) for shares.
Aug 9, 2024
Paper: Value and Momentum Within Stocks, Too
Abstract: This paper strives to advance the field of finance in four ways: 1) it extends the theory of the “The Arithmetic of Active Management” to the investor level; 2) it addresses certain data problems of factor-based methods, namely with respect to value and book-to-market ratios, while introducing price-to-fair-value ratios in a factor-based approach; 3) it may lay the foundation for academic literature regarding the Valuentum, the value-timing, and ultra-momentum factors; and 4) it walks through the potential relative outperformance that may be harvested at the intersection of relevant, unique and compensated factors within individual stocks.


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The High Yield Dividend Newsletter, Best Ideas Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on this website are for information purposes only and should not be considered a solicitation to buy or sell any security. The sources of the data used on this website are believed by Valuentum to be reliable, but the data’s accuracy, completeness or interpretation cannot be guaranteed. Valuentum is not responsible for any errors or omissions or for results obtained from the use of its newsletters, reports, commentary, or publications and accepts no liability for how readers may choose to utilize the content. Valuentum is not a money manager, is not a registered investment advisor and does not offer brokerage or investment banking services. Valuentum, its employees, and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.