KONE Oyj

A middle-of-the-pack grower. 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: earnings are set to grow faster than sales, so margins should widen. The one thing to watch: forward revenue growth is only about average.

Short-term returns are strong but the long track record is thin. Momentum is building — confirmation from longer horizons would strengthen the case. The strongest point: it's up 3% over the past year, now 6% below its 52-week high.

A premium price for a high-quality business. 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 24x is 16% below that median, and its three-year P/E of 21x is 26% below. The one thing to watch: the valuation leaves little margin of safety, so it leans on growth and quality to deliver.

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: return on equity of 38% is better than 90% of companies worldwide; return on assets of 11% is better than 80% of companies worldwide. The one thing to watch: margins are only average.