Adobe Inc. · software
wonderful · 96
wide moat
Value$288.04
Price$251.67
MoS
+14.5%
A cash machine priced for decline: 6% growth beats the 3% implied price if AI only dents the moat.
Wonderful businesses at a margin of safety
2026-10-16
13fat pitches
201on watchlist
5/22cleared gate today
102%universe scanned
5.1%risk-free
Fat pitch of the day
opus
PYPL PayPal
A shrinking moat priced for decline: about 10% cash yield plus buybacks beats the -2% growth the price implies.
BUY
wonderful · 85
narrow moat
payments
Owner-earnings value$79.20
Price$57.16
Margin of safety
+38.6%
PayPal runs a two-sided payments network. Merchants pay it a take rate on transactions processed through branded PayPal checkout, Venmo, and unbranded processing (Braintree). It also earns money from interest on customer balances, credit products, and FX. Branded checkout carries high margins, while Braintree is low-margin, high-volume processing.
Full moat, owner-earnings & quality breakdown →Today's wonderful businesses · 3 deep-dived of 22 scanned
PulteGroup · retail
wonderful · 81
narrow moat
Value$114.76
Price$112.99
MoS
+1.6%
Best-run builder in a commodity, cyclical industry; peak-ish earnings mean the ~3% growth priced in is roughly fair, not cheap.
Watchlist · 201 wonderful businesses · 13 at a margin of safety
The quality gate has scanned 514 of 503 names; these are the ones worth owning at the right price. See the full watchlist →
| Ticker | Sector | Quality | Moat | Price | Value | Margin of safety | Rating |
|---|---|---|---|---|---|---|---|
| CF | materials | wonderful · 85 | narrow moat | $119.77 | $168.81 | +40.9% | STRONG BUY |
| PYPL | payments | wonderful · 85 | narrow moat | $57.16 | $79.20 | +38.6% | BUY |
| INCY | pharma | good · 77 | no moat | $113.27 | $156.30 | +38.0% | HOLD |
| GDDY | technology | wonderful · 82 | narrow moat | $107.29 | $146.96 | +37.0% | BUY |
| LULU | apparel | wonderful · 95 | narrow moat | $99.09 | $132.62 | +33.8% | HOLD |
| CTSH | software | wonderful · 81 | narrow moat | $65.77 | $86.92 | +32.2% | BUY |
| NVR | retail | wonderful · 88 | narrow moat | $5,940.83 | $7,764.83 | +30.7% | HOLD |
| SOLV | healthcare | good · 73 | narrow moat | $87.86 | $114.71 | +30.6% | BUY |
| ZTS | pharma | wonderful · 90 | wide moat | $78.42 | $101.30 | +29.2% | HOLD |
| APA | energy | good · 76 | no moat | $47.23 | $60.89 | +28.9% | HOLD |
| DECK | apparel | wonderful · 97 | narrow moat | $86.58 | $110.65 | +27.8% | HOLD |
| ACGL | insurance | wonderful · 81 | narrow moat | $99.31 | $123.58 | +24.4% | BUY |
| AVY | materials | good · 73 | narrow moat | $175.88 | $213.01 | +21.1% | BUY |
| BR | industrial | good · 78 | wide moat | $174.11 | $207.93 | +19.4% | HOLD |
| UBER | industrial | good · 69 | narrow moat | $71.27 | $84.06 | +17.9% | HOLD |
| INTU | software | wonderful · 84 | wide moat | $330.17 | $388.00 | +17.5% | HOLD |
| UHS | healthcare | good · 69 | narrow moat | $187.36 | $217.10 | +15.9% | HOLD |
| ADBE | software | wonderful · 96 | wide moat | $251.67 | $288.04 | +14.5% | HOLD |
| SNA | industrial | wonderful · 90 | wide moat | $365.91 | $418.41 | +14.3% | HOLD |
| VLO | energy | good · 73 | narrow moat | $444.06 | $506.97 | +14.2% | HOLD |