[SharePad] Screening For My Next Long-Term Winner: BELVOIR

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15 June 2023
By Maynard Paton

Today I have revisited a SharePad screen that applies two ratios favoured by ‘quality’ investors — operating margin and return on equity (ROE).

The exact criteria I re-used were:

  • An operating margin (latest and 10-year average) of 20% or more, and;
  • An ROE (latest and 10-year average) of 20% or more.

Any business with a margin and ROE of at least 20% is probably quite special.

To narrow the field down further, I also sought companies that carried net cash (i.e. net borrowings excluding IFRS 16 finance leases of less than zero):

(Source: SharePad)

This time the filter returned 21 matches, including Impax Asset ManagementSomero EnterprisesJarvis Securities and Quartix.

I selected Belvoir because it was among the worst share-price performers of the last twelve months. Let’s take a closer look.

Read my full BELVOIR article for SharePad >>

Maynard Paton

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