Hexagon

The price is attractive. You pay 8.8× its owner earnings: the cash an owner could take out each year, which is in the historically attractive zone. At today's price, the market is assuming roughly -5% yearly growth; analysts expect 88%. The price, in other words, assumes less than the experts do.

The trajectory is tepid and the balance sheet is adequate. The company scores 14/20 on our value-creation score: strong value creator. Analyst sentiment is cautious.

What to watch: Reported profits have run ahead of actual cash for several periods. As always: this describes the company's numbers; it is not a recommendation.