UL – UNILEVER PLC (HQ: United Kingdom/Industry: Personal Products)
Unilever produces consumer goods with over 400 brands that are available in around 190 countries, with a mission to offer superior products while doing good for people and planet. This includes tradenames such as Dove, Vaseline, Knorr, Hellmann’s, AXE, among many other well-known brands.

Recent 10-Year Financial Summary
Revenue: Increased 2%, with 5 declining years
EPS: Increased 55%, with 3 declining years
BV: Increased 7%, with 6 declining years
FCF: Increased 49%, with 5 declining years
Share Count: Decreased -11%
Dividend: Increased 77%, with 0 declining years

To value the business at their current market price the company would need more than a 7% per year growth for the next 10-years.                 

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=217410&owner=exclude

COF – CAPITAL ONE FINANCIAL CORPORATION (HQ: USA/Industry: Consumer Finance)
Capital One is a diversified financial services holding company with banking and non-banking subsidiaries. Offering a broad array of financial products and services to consumers, small businesses and commercial clients through digital channels, branch locations, Cafés and other distribution channels.

Recent 10-Years Financial Summary
Revenue: Increased 46%, with 2 declining years
EPS: Increased 341%, with 6 declining years
BV: Increased 121%, with 1 declining year
FCF: Increased   37%, with 3 declining years
Share Count: Decreased -22%    
Dividend: Increased 900%, with 1 declining year      

The stock currently trades below its margin of safety intrinsic value.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=927628&owner=exclude

DAR – DARLING INGREDIENTS INC. (HQ: USA/Industry: Food Products)
Darling Ingredients is a global developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, creating a wide range of ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, animal feed, industrial, fuel, bioenergy and fertilizer industries.

Recent 10-Year Financial Summary
Revenue: Increased 179%, with 4 declining years
EPS: Increased 251%, with 5 declining years
BV: Increased 120%, with 2 declining years
FCF: Increased 221%, with 7 declining years
Share Count: Increased 42%
Company does not pay a dividend 

To value the business at their current market price the company would need more than a 25% per year growth for the next 10-years.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=916540&owner=exclude

CNXN – PC CONNECTION, INC. (HQ: USA/Industry: Electronics, Instruments & Components)
PC Connection is a global solutions provider that simplifies the information technology, purchasing experience, guiding the connection between people and technology. The company’s dedicated account managers partner with customers to design, deploy, and support cutting-edge IT environments using the latest hardware, software, and services.

Recent 10-Year Financial Summary
Revenue: Increased 34%, with 2 declining years
EPS: Increased 114%, with 1 declining year
BV: Increased 132%, with 0 declining years
FCF: Decreased -22%, with 4 declining years
Share Count: Decreased -4%
Company does not pay a dividend

To value the business at their current market price the company would need more than a 17% per year growth for the next 10-years.   

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=1050377&owner=exclude

GHC – GRAHAM HOLDINGS COMPANY (HQ: USA/Industry: Diversified Consumer Services)
Graham Holdings is a diversified education and media company whose operations include educational services, television broadcasting, online news, podcast, newsprint, local TV news, manufacturing, home health and hospice care, automotive dealerships, among several other types of businesses.

Recent 10-Year Financial Summary
Revenue: Decreased -21%, with 5 declining years
EPS: Increased 305%, with 3 declining years
BV: Increased 132%, with 1 declining year
FCF: Decreased -85%, with 5 declining years
Share Count: Decreased -29%
Dividend: Decreased -38%, with 3 declining years

To value the business at their current market price the company would need more than a 9% per year growth for the next 10-years.

SEC filing link: https://www.sec.gov/edgar/browse/?CIK=104889&owner=exclude