Looking at the Downside

Moody's Ratings affirms Oracle's Baa2 rating on equity announcement; O...

Moody's Ratings (Moody's) affirmed Oracle Corporation's (Oracle) ratings including the Baa2 senior unsecured rating and P-2 commercial paper rating.  The affirmation partly reflects the company's plans to raise equity as a meaningful component of fundraising for the buildout of the AI infrastructure...

PSA Diversified Real Estate: SRE Holdings (2980 JT) – Building Profit...

SRE Holdings’ business model of operating in the industries that it develops AI SaaS solutions gives it specialist insights into what customers need as well as generating proprietary data. Analyst Lindsay Whipp thinks that the company’s FY26 (Mar yr-end) EV/OP of 11.1x is attractive for a company that we expect to grow at a 5-yr OP CAGR to FY27 of over +35%.

Oracle Corporation - November 2025 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

PSA Macro: Machinery Order Backlog Continues to Grow Despite Weak Defe...

Pelham Smithers notes that the machinery order data for October is something of a curate’s egg. The numbers are strong but the pressure on capacity remains strained. As a result, companies may start to focus on making savings in non-production areas, such as G&A.

PSA Enterprise Software / IT Services: Visional (4194 JT) FY26 Q1 OP C...

Analyst Lindsay Whipp is encouraged by the Q1 performance and even though investment is weighted to H2, that was also the case in FY25, when it significantly outperformed. There is a strong change it could do it again this year.

Moody's Ratings says Oracle's enormous growth in RPO, leases and capex...

Moody's Ratings (Moody's) commented that Oracle Corporation's (Oracle) increase in contract backlog is impressive, though the counterparty risk and spending and commitments required to support that growth remain significant credit concerns and primary drivers of the negative outlook. The Baa2 senior...

5 Things to Know in Investing This Week - The It Just Doesn’t Matter I...

Oracle Corporation: Enormous growth in RPO, leases and capex to meet t...

Massive data center commitments backlog is impressive, but counterparty risk and capex required to support growth are concerns.

Oracle 2FQ26: our quick take.

PSA Professional Services / HR & Employment Services: Visional (4194 J...

Visional has consistently beaten quarterly consensus OP estimates in all but three quarters since FY22 (Jul yr-end) Q2 and it has come in ahead of its own annual OP forecasts every year since FY22 as well. The recruitment platform operator will announce its FY26 Q1 results on 11 Dec. Although we think that it is more likely to meet than beat on OP due to investments for growth, we are optimistic that it will outperform later in the year and surpass its full-year forecasts once more. Trading on a...

PSA IT Services – Unpopularity Unwarranted – Sector Report

PSA IT Services – Unpopularity Unwarranted – Sector Report In this report we discuss the overall results for the IT Services sector and then delve into each company in our coverage. Our valuations quadrant on page 9 provides a snapshot of the valuation of each company vs. their growth. It shows that half the companies under our coverage in the IT Service sector feature in the Higher Growth, Lower Valuation segment of the quadrant, underlining the opportunities that the sector still presents.

PSA ERP Software / IT Services: IIJ (3774 JT) Reports FY25 Q2 Outperfo...

IIJ’s FY25 Q2 came in ahead of consensus with the OPM improving +1.3ppts YoY. Analyst Linsday Whipp flags a strong order book to support further earnings growth. Moreover, the stock offers attractive valuations.

NTT Corp (Buy, TP: ¥215, +39%) Q2 FY25 Quick Take: Better as Mobile AR...

NTT printed a better set of Q2 results. Key points to note are ARPU inflection in mobile, recovery in Global Solutions, and continued revenue recovery in the Regional business.

PSA IT Services: FY25 Q2 Results Review for IT Service Companies

Tags: Obic (4684 JT), Obic Business Consultants (4733 JT), PCA Corp (9629 JT), Ines Corp (9742 JT), Shift (3697 JT), BayCurrent (6532 JT), PKSHA (3993 JT), ExaWizards (4259 JT) Six enterprise software companies reported earnings during the week to 31 Oct with mixed results. Analyst Lindsay Whipp takes us through the performance of four companies in her coverage – TIS, NRI, Obic and OBC.

5 Things to Know in Investing This Week - The Decoupling Issue

Flash! Expect Strong Earnings Season to Overcome Rising Risk Meters

Oracle AI world: datapoints support our framework and numbers

Oracle hosted “AI World 2025” this week and released several datapoints that reinforce our framework and numbers.

PSA Enterprise Software / IT Services: Internet Initiative Japan (3774...

IIJ is flying under the radar in the IT Services sector. Its roots as Japan’s first ISP are playing a crucial role in its expansion as Japanese organisations shift to more open cloud-based IT systems, from which IIJ is winning larger project. Coupled with its higher-margin cyber security offerings and smart digital currency strategy, IIJ is in a strong position to improve OPM over the next three fiscal years. Meanwhile, valuations remain attractive. Analyst Lindsay Whipp explains.

5 Things to Know in Investing This Week - The Gold! Issue