Investment Q&A

GOOG trades at about 30X forward earnings and typically grows the top-line in the high single to low-double digit range. EPS growth profile is a bit more volatile but expected to grow 5% this year. The valuation has seen a big shift from last year when it was in the low teens, as the company is now being viewed as an AI winner. We think it looks fine here but might expect a bit more of an 'average' return profile her over the next few years.

ATD is growing in the mid to low single digit range currently but EPS is expected to grow more in the 10% range for the next few years. The company is trading at a discount to what they typically trade at so we think it looks good here from a long-term perspective. 

TFII is starting to work its way back from what was a tough year last year. The company is expected to get back to growth in 2026 albeit in the low single digit range. EPS should have a nice rebound though, up 25%. While the valuation at 22X looks on the higher side for this type of company, t is likely because profits are rebounding here, so looking out further the 'real' valuation is not nearly as high as it looks 12 months out. With some momentum coming back to the name and a likely fundamental rebound, we think TFII looks interesting here. 

CCL trades at 17.5X forward earnings and has a mid-single digit top line growth rate. EPS was roughly flat in 2025 but is expected to get back to mid single digit growth next year and they should be able to carry this type of cadence for the next few years. For a bit of growth and stability, we think the valuation is justified here but might not expect fireworks either.