Defensive balance sheet and competitive advantages provide a solid foundation for long-term growth.
Reporting fiscal 2017 results, narrow moat-rated ARB Corporation boasts yet another year of solid growth, with underlying net profit up 6% to AUD 49 million. Overall, the results were broadly in line with our expectations. We reiterate our fair value estimate of AUD 12.50, and at the current price, the stock is overvalued relative to our intrinsic assessment. The stock is trading at a fiscal 2018 P/E of 24, which implies an EPS CAGR of around 16% during the next five years. This is difficult to ...ARB is engaged in the design, manufacture, distribution and sale of motor vehicle accessories and light metal engineering works.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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