Narrow-moat Intertek is recovering well from 2015's commodity-price-related turbulence.
Narrow-moat Intertek produced a solid set of full-year results, bang in line with our expectations for the period. Organic growth of just over 2% was assisted by an almost 5% boost from currency tailwinds, while unadjusted operating margins rose by 90 basis points over the period to 15.3%. We do not expect to make any material changes to our forecasts, nor to our GBX 3,650 fair value estimate. We believe the shares are currently overvalued.The products division continued its strong run, with or...
Intertek Group provides Assurance, Testing, Inspection and Certification (ATIC) services. Co.'s segments comprised of Products, Trade and Resources. Co.'s products-related division consists of business lines that are focused on quality and safety of physical components and products, as well reducing risk through assessing the operating process and quality management systems of its customers. Co.'s trade division consists of three Global business lines, Cargo & Analytical Assessment, Government & Trade Services, and Agriculture business. Co.'s resources division consists of two business lines, Industry Services, and minerals business.
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.
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