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Woolworths Group (ASX:WOW), one half of Australia’s supermarket duopoly, just released its full-year results for the 2025 financial year. The numbers painted a picture of significant headwinds and a planned recovery. The results were largely in line with consensus expectations, but the company spelled out a softer-than-anticipated outlook, triggering a sharp sell-off in the stock.

At the time of writing, Woolworths shares have likely made a significant dent in super funds, having fallen to around $29 from more than $33 yesterday. Investors are particularly concerned about declining profits, margin pressures, and challenges in key segments, despite the company highlighting pockets of strength in digital operations and internationally. Continue…

by Roger Montgomery Posted in Companies, Stocks We Like.

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Commonwealth Bank’s (ASX:CBA) financial year 2025 (FY25) result might just have been a study in strategic restraint. Cash profit rose 4 per cent to $10.3 billion – right on consensus –underpinned by stronger wholesale banking in the second half and solid growth in both home and business lending. Continue…

by Roger Montgomery Posted in Companies, Stocks We Like.

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When it comes to the artificial intelligence (AI) boom, few events command as much attention as Nvidia’s quarterly earnings calls. With so much riding on the boom enduring, including Nvidia’s $US4.15 trillion market cap, analysts and traders understandably dissect every nuance – from the precise wording of forward guidance to the subtle inflections in CEO Jensen Huang’s voice. They’re looking for clues about whether excitement or caution lies ahead or is presently justified. Continue…

by Roger Montgomery Posted in Companies, Polen Capital, Stocks We Like.

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The equity bull market has been tough for small company stocks and their investors. The current decade started out with promise. After the short, sharp pandemic bear market in 2020, small cap stocks significantly outpaced the tech-fuelled S&P 500 Index during the post-pandemic bull market ending in December 2021. This was partly because the artificial intelligence (AI)-Tech darlings hadn’t garnered the momentum and euphoria required to concentrate flows of capital and drive the media narratives that produced their immense popularity and stock-market leadership. Continue…

by Roger Montgomery Posted in Small Caps.

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Cochlear’s financial year 2025 (FY25) results delivered a steady, if unspectacular, performance that broadly aligned with the company’s June guidance reset. Revenue came in at $2.34 billion, consistent with market expectations following the downgrade, while underlying net profit landed at $392 million – the low end of the revised $390-400 million range.

These results reflected a year of mixed dynamics: implants and acoustics continued to post strong growth, but the Services segment remained a significant drag on both revenue momentum and operating leverage. Continue…

by Roger Montgomery Posted in Companies, Stocks We Like.

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Kenneth Rogoff, the American economist, chess Grandmaster, professor of international economics at Harvard University, former International Monetary Fund (IMF) chief economist and co-author of This Time is Different: Eight centuries of Financial Folly, has spent his career chronicling the anatomy of financial collapses. In his latest article for Foreign Affairs (Sep/Oct 2025), Rogoff issues a stark warning: the U.S. is flirting with a once-in-a-century debt crisis – and its current political and economic trajectory makes a crisis not just possible, but probable. Continue…

by Roger Montgomery Posted in Foreign Currency, Global markets, Market commentary.

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Super Retail Group (ASX: SUL), the parent company of brands like Supercheap Auto (SCA), Rebel Sport, BCF, and Macpac, just released its full-year 2025 results, delivering a strong performance and beating consensus net profit after tax (NPAT) and earnings before interest and tax (EBIT) expectations on the back of accelerating like-for-like (LFL) sales growth, better-than-expected gross margins, and tight cost control. Continue…

by Roger Montgomery Posted in Companies.

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You might not like the man or his personality, but I wonder whether a new brand of capitalism and a new brand of government are emerging that prioritise the greater good. Continue…

by Roger Montgomery Posted in Market commentary.

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Breville Group (ASX: BRG), the premium kitchen appliance maker behind brands like Breville and Sage, has released its full-year results for financial year 2025 (FY25). The company’s results largely met or slightly exceeded expectations, with strong revenue growth across regions and categories. Strategic initiatives including geographic expansion and manufacturing diversification were highlighted.

However, attention has been drawn to looming U.S. tariff impacts, which could pressure margins next year and beyond. Continue…

by Roger Montgomery Posted in Companies, Financial Services, Stocks We Like.

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Australia’s longstanding objection to nuclear power stems from a combination of historical, environmental, and political factors. The country has abundant uranium reserves but no operational nuclear power plants, with federal bans under the Environment Protection and Biodiversity Conservation Act 1999 and the Australian Radiation Protection and Nuclear Safety Act 1998 prohibiting their construction. Continue…

by Roger Montgomery Posted in Energy / Resources, Market commentary.

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