Pendulum Research
One company. A closer look.
Independent research exploring how a business makes money, what it could be worth, and what could change the investment case.
Each month, I select one company for an in-depth research paper examining its business, financial performance, competitive position, valuation and key risks.
What’s inside
The business
How it earns money and what gives it an edge.
The valuation
What the financials suggest, and which assumptions matter.
The risks
What could undermine the investment case.
Reports are available to purchase individually.
Enquire about a report