Lithuanian Market Community

️ Business Overview Key Metrics Total: 8/17 +2 ✅✅ Projected Operating Margin: 31.57% +0 ⚠️ Projected 5-Year Revenue CAGR: 6.38% +1 ✅ Last 5-Year ROIC: 18.20% +1 ✅ Estimated Cost of Capital: 9.33% (less than ROIC) +1 ✅ Last 5-Year Shares Outstanding CAGR: -0.78% -1 ❌ Projected 5-Year EPS CAGR: 7.29% (given that the companies can "manipulate" in a sense this values, below 10% it represents a negative) +1 ✅ Projected 5-Year Dividend CAGR: 15.01% +1 ✅ Estimated Debt Rating: A1 +2 ✅✅ Morningstar Moat: Wide +0 ⚠️ Morningstar Uncertainty: Medium Ferrari is a solid company, racing with a wide moat with its worldwide known brand that results in a very high operating margin. The fact that its ROIC is almost double its cost of capital (WACC) gives us good reasons to believe in its investment decisions.

1. Executive Summary Costco Wholesale represents one of the highest-quality businesses in the public markets, characterized by a Wide Economic Moat , best-in-class leadership, and a recurring revenue model that offers unusual stability.

Thesis: Downstream leverage. Growth is tied to the European automotive supply chain and the new sintered magnet plant in Estonia.