ASSA ABLOY AB (publ)

A middle-of-the-pack grower that is slowing. Earnings are outgrowing revenue, a sign of improving margins and operating leverage. Quality of growth is high even if the top line is moderate. The strongest point: revenue grew 13%/yr over the last 3 years, ahead of 70% of companies worldwide. The one thing to watch: forward revenue growth is only about average.

Short- and long-term returns both rank among the best globally, and the stock trades near its highs. The market is fully behind it — a core fit for momentum strategies. The strongest point: strong long-term results.

A fairly-priced stock. A mix of reasonable multiples and yields without extreme cheapness. Can work in diversified value portfolios, but not a standout bargain. The strongest point: its forward P/E of 23x is 6% below that median, and its three-year P/E of 20x is 20% below. The one thing to watch: the earnings multiple is high.

A genuinely high-quality business. Profitability and capital efficiency rank well above the market. A solid quality holding, with one or two softer spots to watch. The strongest point: margins are even across the P&L, with a net margin of 11%, better than 50% of companies worldwide. The one thing to watch: leverage is moderate.