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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.
Aug 20, 2024
Ford Raises Adjusted Free Cash Flow Guidance, Warranty Costs Weigh on Shares
Image: Ford’s second quarter results weren’t great, but the company’s guidance calls for increased adjusted free cash flow in 2024. Ford is facing issues due to rising warranty costs in its Ford Blue [ICE] division, while losses continue to mount in its electric vehicle division, Ford Model e, where it anticipates a full-year loss of $5-$5.5 billion due in part to continued pricing pressures. However, it was reassuring that management maintained its 2024 company adjusted EBIT guidance, while raising its adjusted free cash flow guidance for the year. Based on Ford’s quarterly dividend of $0.15 per share, the company yields 5.6% at the time of this writing. Our $15 per share fair value estimate remains unchanged.
Aug 12, 2024
Procter & Gamble’s Organic Growth Fails to Impress
Image Source: P&G’s Citizenship Report. Procter & Gamble’s fiscal fourth quarter disappointed a number of investors as organic growth failed to outpace expectations. Looking to fiscal 2025, all-in sales growth is expected in the range of 2%-4%, with organic growth in the range of 3%-5%. P&G is targeting fiscal 2025 core net earnings per share growth in the range of 5%-7% versus fiscal 2024 core earnings per share of $6.59. We like P&G a lot, but shares are trading well above our fair value estimate.
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.
Jul 19, 2024
Netflix Still Has a Long Runway of Growth Ahead of It
Image Source: Netflix. Netflix reported solid second quarter results and raised its forward-looking guidance for the full year 2024. The company is winning the streaming wars and has a long runway of future membership growth given the 80% of TV time it and Youtube don’t already own. Its nascent ads business continues to gain traction, too. Netflix still expects to haul in free cash flow of $6 billion in 2024, as it continues to buy back stock. The company ended the quarter with $14 billion in gross debt versus cash and cash equivalents of $6.7 billion. We think Netflix is performing well, but we're already quite tech heavy in the newsletter portfolios and won't be adding shares to any portfolio at this time.
Jul 17, 2024
Johnson & Johnson Finetunes 2024 Bottom Line Guidance
Image: J&J’s shares have faced pressure since the beginning of 2023. Looking to all of 2024, J&J continues to expect adjusted operations sales growth in the range of 5.5%-6%, but it finetuned adjusted operational earnings per share to the range of $10.00-$10.10 from $10.60-$10.75 previously. The company’s improved performance was offset by the collective impact of its recent acquisitions of Shockwave Medical, Proteologix, and NM26 Bispecific Antibody. We’re not reading too much into the downward bottom-line guidance revision as J&J remains a free-cash-flow cow with a pristine AAA credit rating. Though J&J is not included in any newsletter portfolio, it’s hard not to like the company. Shares yield ~3.3% at the time of this writing.
Jul 11, 2024
PepsiCo Adjusts Organic Revenue Growth Guidance
Image: PepsiCo’s shares have been choppy since the beginning of 2022. We’re not reading too much into PepsiCo's modest downward organic revenue growth guidance revision for 2024 (approximated 4% versus at least 4%), as the firm's underlying profitability remains strong, with expectations for at least 8% core constant currency expansion in 2024. Total cash returns to shareholders is targeted at $8.2 billion for 2024, consisting of dividends of $7.2 billion and share repurchases of $1 billion. For the 24 weeks ended June 15, PepsiCo had negative free cash flow, while it retained a hefty net debt position on the balance sheet. Though PepsiCo is not a net-cash-rich, free cash flow generating powerhouse, we like the diversification benefits it provides in the Best Ideas Newsletter portfolio.
Jul 3, 2024
High Yield Dividend Income Investing Is Not as Easy as Chasing the Highest Yield
Image: EpicTop10.com. The skills to successfully invest for long-term capital gains or long-term dividend growth are much different than those required for generating high yield dividend income. Income investing is a much different proposition. However, the skills do center on a similar equity evaluation process, but one that requires an acknowledgement and heightened awareness of considerably greater downside risks. Income investing, or high yield dividend income investing, should at times be considered among the riskiest forms of investing, as many high dividend-yielding securities tend to trade closer to the characteristics of junk-rated bonds than they do most net cash rich and free cash flow generating powerhouses that we like so much in the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio.
Jun 10, 2024
Update: Frequently Asked Questions About Valuentum Securities, Inc.
Valuentum (val∙u∙n∙tum) [val-yoo-en-tuh-m] Securities Inc. is an independent investment research publisher, offering premium equity reports and dividend reports, as well as commentary across all sectors/companies, a Best Ideas Newsletter (spanning market caps, asset classes), a Dividend Growth Newsletter, modeling tools/products, and more. Independence and integrity remain our core, and we strive to be a champion of the investor. Valuentum is based in the Chicagoland area. Valuentum is not a money manager, broker, or financial advisor. Valuentum is a publisher of financial information. We address a number of questions from both subscribers and visitors to our site.
May 23, 2024
Accenture Facing Revenue Growth Pressures But Stock Is Worth a Look
Image: Accenture is facing revenue growth pressure, but the company’s financials remain resilient. We’re concerned about Accenture’s downward financial guidance revisions in March and pressure on demand growth for its IT and consulting services, but Accenture’s free cash flow generation remains robust, its balance sheet remains solid, and new bookings growth remains healthy with exposure to AI. Accenture pays a healthy dividend, and the firm continues to buy back stock. The company checks a lot of the boxes that we’d be looking for in a new idea, but we’d like to see evidence of revenue growth improvement before growing interested in adding the company to any newsletter portfolio. We remain on the sidelines for now.
Apr 17, 2024
ASML Reports First Quarter Results, Reiterates Guidance
Image: ASML Holding is one of our favorite semiconductor ideas. On April 17, ASML Holding reported decent first quarter 2024 results. First quarter net sales came in at €5.29 billion on a gross margin of 51.0%. Net income was €1.22 billion in the quarter. Net bookings in the first quarter of 2024 came in at €3.6 billion, down sequentially from the strong net bookings number delivered in the fourth quarter of 2023. The company continues to be shareholder friendly, paying dividends and buying back €400 million worth of stock during the first quarter. Though management expects 2024 total net sales to be similar to 2023, we like how ASML is positioned for the long run.


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.