ams-OSRAM AG

Growth is a weak point here: a business that's turning around. Both revenue and earnings growth are weak. This profile does not fit growth strategies, so look to value or quality angles instead. The strongest point: the runway holds up: revenue is set to grow 9%/yr over five years. The one thing to watch: the company is not profitable yet.

Returns rank poorly over both the short and long run, and the price is still falling. Momentum is firmly negative — catching this is a bet against the tape, not with it. Wait for a base to form. The strongest point: strong recent results. The one thing to watch: the multi-year record is weak.

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: on three-year forward earnings it trades at 8x, cheaper than 80% of companies worldwide. The one thing to watch: free cash flow is negative.

Business quality is a weak point here. Debt is high relative to earnings and overall quality is below the market. Balance-sheet risk is the main watch-item. The strongest point: consensus sees free cash flow climbing from $45M to about $429M over the next 3 years. The one thing to watch: free cash flow is negative.