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Visa V has been in consolidation for two years, since trading at an all-time high of $252.67 on July 27, 2021.This was warranted considering that V was trading 37x earnings, significantly higher than its typical range of 25x 30x earnings. Now that the fundamentals have caught up to its stock price, V may be poised for a breakout. *NTM Price to Earnings Ratio: 26.67x *10-Year Mean: 27.79x *NTM Free Cash Flow Yield: 3.80% *10-Year Mean: 3.87 %

Today, investors are forecasted to receive ~4% more in earnings per share and a free cash flow yield that is in-line with its 10-year average. Considering its fundamentals, V appears to be fairly valued and has attractive growth potential going forward.

Before analyzing Vs valuation further, lets have a look at why V is a high-quality business. Balance Sheet Cash & Short-Term Investments: $16.59B Long-Term Debt: $20.60B

V has a strong balance sheet, evident from its AA- S&P Credit Rating.Return On Capital 2017: 21.6% 2018: 24.6% 2019: 27.5% 2020: 21.4% 2021: 24.3% 2022: 30.8% LTM: 32.1% Return On Equity 2017: 20.4% 2018: 30.9% 2019: 35.2% 2020: 30.7% 2021: 33.4% 2022: 40.9% LTM: 42.4%

Vs return metrics are stellar, highlighting the financial efficiency of the business.Revenues 2015: $15.91B 2016: $17.66B 2017: $18.35B 2018: $20.60B 2019: $22.97B 2020: $21.84B 2021: $24.10B 2022: $29.31B CAGR: 9.12% Free Cash Flow 2015: $6.17B 2016: $5.05B 2017: $8.61B 2018: $12.22B 2019: $12.02B 2020: $9.70B 2021: $14.52B 2022: $17.87B CAGR: 16.40% Net Income(Earnings) 2015: $6.32B 2016: $5.99B 2017: $6.69B 2018: $10.30B 2019: $12.08B 2020: $10.86B 2021: $12.31B 2022: $14.95B CAGR: 13.08%

Over the past 7 years V has been able to grow its revenues, free cash flow, and net income at appreciable rates.ShareBuybacks 2013 Shares Outstanding: 2.62B LTM Shares Outstanding: 2.11B

By decreasing the number of its shares by about 20% in the last 10 years, V managed to boost its earnings per share by 25% (assuming no growth). This means that each share now represents a larger portion of the company's earnings, resulting in increased profitability for investors.

As you can see, V is a high-quality business with a wide moat.

Now lets shift our focus to its valuation.

Benjamin Graham, widely regarded as the father of value investing, advocated for a principle known as the "2G" rule. According to Graham, investors should not pay more than twice the growth rate (2G) of a business.

For instance, if a company is projected to achieve a 10% compounded annual growth rate (CAGR) in earnings over the next five years, a price-to-earnings (P/E) ratio of 20x might be considered reasonable. However, if the expected earnings growth rate is 5% compounded annually over the same period, a P/E ratio of 20x would be considered unreasonable, as the investor would be paying four times the growth rate.

With a multiple of 26.67x, V would need to achieve approximately a 13.34% CAGR in earnings over the next five years to justify its current valuation. Interestingly, this growth target is slightly below the forward estimates, suggesting that V has the potential to meet or slightly surpass the markets expectations.

V is scheduled to announce its quarterly results after the market closeon July 25, 2023. The anticipation of an earnings beat or a positive earnings report has the potential to serve as a fundamental catalyst, that could propel V's shares to reach new all-time highs.

*The valuation data utilized in this article is subject to potential changes and may not reflect current market conditions or future developments beyond the time of submission for publication.

Disclosure: I am long V. Babylon Capital, its representatives, and client(s) have positions in the securities discussed in this article. The information contained in this article is intended for informational purposes only and should not be construed as investment advice to meet the specific needs of any individual or situation. Past performance is no guarantee of future results. Information contained in this article has been obtained from sources believed to be reliable but is not guaranteed as to completeness or accuracy.

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Driven since Week 1 loss, red-hot Tide rout Vols

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Driven since Week 1 loss, red-hot Tide rout Vols

TUSCALOOSA, Ala. — After Alabama beat Tennessee 37-20 on Saturday night, coach Kalen DeBoer wanted to make sure his players enjoyed their postgame cigars to celebrate another win in their storied rivalry.

There is still a long road to go, but what Alabama has done to get to this point is worthy of a celebratory cigar, too.

After a Week 1 loss to Florida State, Alabama has stacked one victory after the next, winning six straight, finding an edge and different ways to motivate themselves. Proving they were better than that team that opened in Tallahassee is certainly one of those reasons. But there were others — proving they could win on the road and doing so against Georgia. Beating Vanderbilt after losing to them last year. And Saturday night, regaining the edge against Tennessee after losing to them last year, too.

The result? Alabama is the first team in SEC history to win four straight games, all against ranked teams, with no bye week mixed in, according to ESPN Research.

“They’ve got an edge to them still, and haven’t lost it since the beginning there after week one. That’s hard to do,” DeBoer said afterward. “It’s really hard to do. As you go through the weeks, there’s been enough reasons, different motivation factors, to get up for games, and our guys, each and every week, find a way to do it. So we’ve got to keep the pedal down.”

The key turning point happened just before halftime. Tennessee was on the Alabama 1-yard line with eight seconds left in the quarter, down 16-7. Joey Aguilar dropped back and threw right toward tight end Miles Kitselman, who appeared to be open in the end zone. But Zabien Brown jumped the route and intercepted the pass, returning it 99 yards for the score to give Alabama a 23-7 lead.

“The ball fell right in my hand,” Brown said. “I [saw] open field and I started running. I’m like, if I get tackled, the time [will] go out. So I gotta find a way to get in that [end] zone.”

It was a triumphant day for the defense, which had struggled at times to limit explosive plays throughout the course of the season and put their stamp on a game. Alabama also had a safety in the first half and made life uncomfortable for Aguilar all night. Tennessee came into the game as the highest scoring offense in the SEC, but Alabama held them to a season-low 20 points and 410 total yards. The Vols only scored on two of their five red zone chances.

Alabama fans lit their cigars in stadium well before the game ended. It was Alabama’s 11th straight home win in the series, and also ran DeBoer’s record at home to 11-0 since his arrival last year. He has also won six straight since switching to a black hoodie on the sideline, something that has become a major talking point among the Alabama fan base.

When asked if he was giving the fans what they wanted by continuing to wear the black hoodie, DeBoer said, “This isn’t new. I’ve done this for years. But we’re going to ride the momentum. I told the guys not to get any [cigar] ashes on it.”

The Crimson Tide sit at 4-0 in SEC play and are one of two unbeaten teams left in the league, along with Texas A&M. Up next is a trip to South Carolina before an open date.

“I think we understand the week of preparation gets you mentally in the right space to where you’re confident going out on the football field,” DeBoer said. “When you’re confident, you got a little more energy. And that’s really what I see with our guys, and that fires me up.”

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ND’s Freeman hails Love-Price duo: ‘So talented’

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ND's Freeman hails Love-Price duo: 'So talented'

SOUTH BEND, Ind. — When the clock expired on a 34-24 win over USC, Notre Dame took a dig at its West Coast rival by playing a modified version of the song “California Love,” which began instead with the lyric “Jeremiyah Love.”

The serenade for USC players and coaches as they left a rain-soaked Notre Dame Stadium certainly didn’t sound good, but it wasn’t as bad as facing the actual Jeremiyah Love and his sidekick, Jadarian Price. Love rolled up 228 rushing yards, the most by a Notre Dame player in the 512-game history of Notre Dame Stadium, and the most by a Notre Dame player against USC in the storied rivalry. Price added 87 rushing yards and a 100-yard kick return touchdown that put the 13th-ranked Irish ahead for good.

Notre Dame kept its College Football Playoff hopes alive with its third straight win against USC in the final scheduled game of the historic intersectional rivalry.

“It’s not very common in college, not very common in life, to see two guys that are so talented, that deserve the ball in their hands every snap, put the team above themselves, and then make the most of their opportunities,” coach Marcus Freeman said. “They’re not pouting, they’re each other’s biggest supporter.

“That might be one of the hardest things we ask our plays to do — put team before me. Everything outside of here says, ‘No, you come before team.'”

After getting only 20 touches combined in a season-opening loss at Miami, Love and Price knew they would be featured against No. 20 USC, as the forecast called for heavy rain. Love raced 63 yards on his first carry and finished Notre Dame’s opening drive with a 12-yard touchdown run. On the team’s next scoring drive, Price had 56 rushing yards and a 16-yard touchdown.

“We believe that every game goes through the running back room,” Love said, “so if we’re on our stuff, the offense is going to be on their stuff. Just be great backs, be great teammates.”

Price’s biggest play came on special teams, after USC had taken a 24-21 lead with 4:32 left in the third quarter. He initially erred by going outside his blocker on the kick return, but eventually found room and sliced through USC’s defense.

He became the first Notre Dame player with multiple 100-yard kick returns, as he had one Sept. 20 late in the first half against Purdue. Price also had a 99-yard scoring return against USC in 2023 on the same field.

“I am sitting there like, ‘God, I get you, now,'” Freeman said, smiling. “Notre Dame, there is something [here]. At that moment I’m like, ‘What is going on?’ … That was a huge play for this team.”

A preseason All-America selection, Love only received 14 total touches — 10 rushes and four receptions — in Notre Dame’s season-opening loss at Miami, while Price had just six carries against the Hurricanes. But both backs have seen their workload increase as Notre Dame shapes its offensive identity around them.

“It’s really dangerous,” Price said. “We start with the run game.”

USC answered for much of the night with its passing attack, which piled up 328 yards. But after converting a third-and-9 with a 42-yard pass from Jayden Maiava to Makai Lemon into Notre Dame territory, USC called for a wide receiver option pass, and Lemon lost the ball, recovered by Irish linebacker Kyngstonn Viliamu-Asa.

“Stupid call,” coach Lincoln Riley said. “It was a stupid call.”

Notre Dame and USC met for the 96th time Saturday night, but the future of the series is in doubt despite a desire on both sides to continue. The schools have differing views on the length of a future scheduling agreement and where games are played.

The rivalry hasn’t lost its zest, as players and coaches barked at each other after the game, and several USC players were whisked away as the Irish gathered to sing their alma mater.

“This is the biggest intersectional rivalry in college football,” Notre Dame linebacker Jaylen Sneed said. “It just means more to us. … It should still be played. It’s a game that I circle every year on my calendar, and I think everybody else does.”

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Protesters join nationwide ‘No Kings’ rallies against Donald Trump’s policies

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Protesters join nationwide 'No Kings' rallies against Donald Trump's policies

Thousands of so-called “No Kings” rallies are being held across the US to protest at what organisers are calling Donald Trump’s “crackdowns on First Amendment rights”.

Millions of people are expected to take part in the demonstrations – the second such gathering, after an initial nationwide day of protest in June, coinciding with the US president’s birthday.

The term “No Kings” reflects the belief by some that the US president is behaving like a “king” and some in his administration are depicting him as a monarch.

Supporters are framing the marches as a patriotic defence of free speech, while critics are calling them anti-American.

Here are some of the pictures emerging from the rallies.

People attend a 'No Kings' protest in New York. Pic: Reuters
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People attend a ‘No Kings’ protest in New York. Pic: Reuters

A Donald Trump is presented as a prisoner in chains in Seattle. Pic: AP
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A Donald Trump is presented as a prisoner in chains in Seattle. Pic: AP

Some protest marches, like this one in Washington DC, have the appearance of a colourful parade. Pic: AP
Image:
Some protest marches, like this one in Washington DC, have the appearance of a colourful parade. Pic: AP

Donald Trump’s Republican Party has dismissed the demonstrations as “Hate America” rallies, but in many places the events looked more like a street party.

There were marching bands, huge banners and signs, effigies of the president and demonstrators wearing inflatable costumes.

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A large inflatable effigy of Donald Trump in Chicago. Pic: Reuters
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A large inflatable effigy of Donald Trump in Chicago. Pic: Reuters

Thousands gather along a waterfront in Portland, Oregon. Pic: AP
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Thousands gather along a waterfront in Portland, Oregon. Pic: AP

Protesters at the Wyoming State Capitol are been creative with their signs. Pic: Wyoming Tribune Eagle/AP
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Protesters at the Wyoming State Capitol are been creative with their signs. Pic: Wyoming Tribune Eagle/AP

The protests follow Donald Trump’s return to the White House and come against the backdrop of a government shutdown which has closed federal programmes and services.

There has also been criticism of what some see as an aggressive executive, confronting Congress and the courts, in ways that protest organisers believe are a slide toward authoritarianism.

This event in San Francisco is among thousands taking place across the US. Pic: Reuters
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This event in San Francisco is among thousands taking place across the US. Pic: Reuters

A 'No Kings' sign, outside City Hall in Los Angeles, represents a protest against what is seen as increasingly authoritarian rule. Pic: Reuters
Image:
A ‘No Kings’ sign, outside City Hall in Los Angeles, represents a protest against what is seen as increasingly authoritarian rule. Pic: Reuters

So far, the atmosphere at most of the protests appears largely energetic and upbeat, with protesters calling for accountability and protections for civil liberties.

Organisers insist today’s events will be peaceful – a direct response to Republican and Trump administration claims that the protests could be unsafe.

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