Companies

While Telstra’s share price is up about 80 per cent since the lows of Covid in 2020, the shares are trading at about where they were in 2003, and they are down 26 per cent from their 2015 highs and 45 per cent lower than their all-time highs in 1999.

Telstra has been a case study against investing for the long term, or maybe a case study in sticking to quality if you are going to invest for the long term. Time is the friend of the wonderful business, and the enemy of a business with poor economics. continue…

by Roger Montgomery Posted in Companies, Technology & Telecommunications.

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With markets hitting record highs, debt warnings echoing, and artificial intelligence (AI) reshaping everything, there’s plenty to unpack. Here’s a quick look at four key topics of investor conversations.

Ray Dalio’s debt warning and the case for gold and bitcoin

The billionaire founder of hedge fund leviathan Bridgewater Associates, Ray Dalio, is a man fond of predicting recessions and crises. His are a reminder that in order to be an accurate forecaster, you merely have to forecast often. Eventually, you’ll be right, just as a stopped clock is right twice a day. continue…

by Roger Montgomery Posted in Companies, Market commentary.

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JB Hi-Fi Limited (ASX:JBH), stamped its leadership on Australia and New Zealand’s retail landscape again, delivering impressive financial year 2025 (FY25) results, and demonstrating exceptional resilience across its portfolio of brands – JB Hi-Fi, The Good Guys, and the recently acquired E&S. With its laser-like focus on technology, consumer electronics, and home appliances, JB Hi-Fi continues to win customers, and market share, particularly among younger, tech-savvy shoppers. continue…

by Roger Montgomery Posted in Companies, Stocks We Like.

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QBE Insurance Group (ASX:QBE), a top 10 company in the portfolios of The Montgomery Fund and The Montgomery [Private] Fund, has delivered an impressive 2025 first-half result, significantly outperforming analyst expectations across key metrics.

Bolstered by strong investment income, favourable underlying prior-year claims development (PYD), and below-budget catastrophe (CAT) claims, QBE’s results underline its operational strength and strategic progress. Despite challenges such as moderating premium rate increases and elevated large losses in North America, the company’s reaffirmed financial year 2025 (FY25) guidance and robust capital position signal further upside potential. continue…

by Roger Montgomery Posted in Companies, Insurance, Stocks We Like.

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REA Group, the company behind realestate.com.au, has, perhaps unsurprisingly for those who have followed our commentary here at the blog, delivered another impressive financial performance, this time for the 2025 fiscal year (FY25). Record dividends and robust growth have been recorded despite the ongoing market challenges with respect to residential property listings. continue…

by Roger Montgomery Posted in Companies, Property.

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Earlier this week, we published our Financial Year 2025 (FY25) Reporting Season calendar, so make sure you have a look at that. Here a quick overview of what you could be watching for as Australia’s FY25 reporting season gets underway.

While equity markets have demonstrated resilience through the first half of the year, this earnings season could prove to be an inflection point – one that will either reaffirm confidence or expose the cracks beneath recent optimism. continue…

by Roger Montgomery Posted in Companies.

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Australia’s reporting season is now underway, shifting investor attention from Trump’s tariffs and cheating on the golf course to company earnings, as well as their 2026 outlook statements.  

The goal? Pinpointing sectors and businesses with the potential for genuine earnings growth. Even if Trump’s actions cause vibrations in the market, it will be the companies that can grow that will ultimately deliver the most attractive returns.  continue…

by Roger Montgomery Posted in Companies.

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TechnologyOne (ASX:TNE), has been a steady presence in the UK since 2006 but its recent transformation under a focused Software as a Service (SaaS) strategy has changed the firm’s earnings growth trajectory. After years of laying foundations in the education and local government sectors, the company is delivering robust growth and structural improvements that are now recognised by the market. With accelerating Annual Recurring Revenue (ARR) growth and a supportive digital transformation backdrop, TechnologyOne’s UK operations are poised for sustained momentum. continue…

by Sean Sequeira Posted in Companies, Small Caps, Stocks We Like, Technology & Telecommunications.

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In the twelve months to June 2025, Reece Limited (ASX:REH) delivered its shareholders a negative 43 per cent return, dramatically underperforming the ASX 300 Accumulation Index, which increased by 14 per cent. continue…

by David Buckland Posted in Companies.

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Today on Ausbiz with Juliette Saly, we explored why global stock markets are hitting new highs despite ongoing geopolitical tensions. You’d be forgiven for expecting markets to react negatively given the conflict in the Middle East, rising bond yields, Trump tariffs, and recent interest rate cuts. continue…

by Roger Montgomery Posted in Companies, Global markets, TV Appearances.

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