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Posted October 17, 2025 at 11:45 am
This week, we cover E.ON SE and NetApp, Inc. EONGY is a name that recently announced the firm has covered over 70% of this year’s financing through Green Bonds. At ISS STOXX, we launched Sustainability Bond Rating in April, analyzing the sustainability impact and risk assessment of an issuer’s global labeled debt. NTAP, an ‘Expensive but Worth It’ name, announced new cyber security capabilities, becoming the first company to embed data breach detection into enterprise data storage.
For this week’s improvers in the EVA Framework, we look at U.S. firm Lennar Corporation (LEN, remains Overweight), Australian firm AMP Ltd, and German Bechtle AG.
The sectoral index (MSCI World Materials) has seen low single-digit returns of 3.5% compared to the STOXX World AC All Cap index return of 15.8%, on a 1-year basis. In this report, we handpick attractive names from the Materials sector for the latest edition of our EVA Focus List.
The Energy sector picks from our October 2024 Focus List (report) demonstrated relatively strong returns of 7.8% on a 1-year basis, significantly outperforming the sectoral benchmark that saw a sub-1% return. In this report, we handpick attractive names for the EVA Focus List.
The global Industrials index has seen strong 1Yr returns of 17.3%, 150bps higher compared to the STOXX World AC All Cap, at +15.8%. As we enter Q4, we handpick attractive Industrials for the latest edition of our EVA Focus List.
We provide updated scores for the original holdings as well as the names we have added in May 2024 and September 2024. On pages 2 and 3, we provide a detailed analysis of the three names in the EVA Focus List that have had laggard performance in the market: CMCSA, SPKKY, and TRIP.
We include a screen of Risky Profits at a Reasonable Price names for the Russell 1000. We also include a screen of names in our Distress or Cyclical Rebounders theme from the Russell 1000. These two themes have generated the most alpha during the recent divergence of Profitability and Risk factor performance.
On average, Large Cap firms are at the lower end of the neutral range in PRVit, as weak Quality negatively outweighs favorable Valuations. Profitability Trend has been on a journey of recovery but is yet to turn positive. The market has a bearish outlook for the industry, with the MVA Spread trading at a deep discount to capital.
Halfway through October, we see PRVit working in Japan and the Emerging Markets. Quality continued to struggle in all regions except the Emerging Markets. Cheap Value outperformed expensive Value in Europe and Japan.
In our Chart of the Week, we combine the two firms from this week’s Names in the News (NITN) report (EONGY & NTAP) and the three names from the Weekly Watchlist: Tracking Top EVA Standouts report (AMP AU, LEN, & BC8 GR). The firms are spread across the favorable part of the PRVit Heat Map. The higher vertically the firm, the higher the level of Quality (Risk-adjusted Profitability). The further left the firm is, the more expensive it is. Of the five stocks, NTAP has the highest Quality but is also trading with the highest premium, positioning it as an ‘Expensive but Worth it’ stock. EONGY has the second highest Quality score and is trading with the lowest Valuation score, positioning it in our ‘High Quality and Cheap’ zone.
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Originally Posted on October 16, 2025
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from ISS EVA and is being posted with its permission. The views expressed in this material are solely those of the author and/or ISS EVA and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
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