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+)-*6M2(%16 Company Quality is ased on a set of quality checks across three categories; PEOPLE, BUSINESS, FINANCE. These are the uilding locks
that enable a company to deliver sustained operational outperformance and attractive longterm earnings growth.
Each category is grouped into multiple sub-categories assessed y five checks. These are ased on widely accepted and tested
investment criteria and used y demonstrably successful investors and investment firms. Each sub-category may also include a
complementary check that provides additional information to assist with investment decision-making.
If a check is successful, it is assigned a score of one point; the total successful checks are added to give a score for each sub-category.
The overall score for a category is the average of all sub- category scores, ased on a scale that ranges from 0 to 5 rounded up to the
nearest whole number. The overall score for each category is then used to generate the size of the ar in the Company Quality graphic.
+-( ; At the end of the day, people drive profits. Not numbers. Understanding the motivations of people ehind a usiness is a significant part of
understanding the long-term drive of the company. It all comes down to doing usiness with people you trust, or at least avoiding dealing
with people of questionable character.
The People rating is ased on quantitative scores in seven categories:
1. Passion 2. Execution 3. Capital Allocation 4. Communication 5. Compensation 6. Ownership 7. Board
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20%* 00 ; If you don’t understand the competitive environment and don’t have a clear sense of how the usiness will engage customers, create value
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some level of certainty and reduce the risk when you uy a stock. character.
The Business rating is ased on quantitative scores in seven categories:
1. Business Scalability 2. Market Structure 3. Value Proposition 4. Economic Moat 5. Operational Risks
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to determine whether a company is financially strong or weak.
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1. Earnings Power 2. Profit Margin 3. Growth Rate 4. Financial Health 5. Earnings Quality
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independent assessment of the company in question, its opportunities, risks, etc. The purpose is to provide an objective and professional
set of data for owners and investors to use in their decision-making.
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