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Company Analysis

How we analyze real businesses with the Tenet lens: quality, balance sheet, valuation and long-term record.

These walkthroughs apply the full Tenet lens to real businesses: business quality, balance-sheet strength, valuation discipline and long-term record. They are educational analyses of how we think, not recommendations, and every current figure carries an as-of stamp.

13 articles in this module

How We Analyze Apple

How we analyze Apple with the Tenet lens: the installed-base moat, a services mix shift, a relentless buyback, a net cash balance sheet, and a demanding price.7 min read

How We Analyze Microsoft

How we analyze Microsoft with the Tenet lens: enterprise switching costs, the cloud engine, exceptional margins, a strong balance sheet and the acquisition record.7 min read

How We Analyze Alphabet

How we analyze Alphabet with the Tenet lens: search economics, the Other Bets drag, a net cash fortress, a new dividend and buyback, and a mid-market valuation.7 min read

How We Analyze Amazon

How we analyze Amazon with the Tenet lens: the retail-versus-AWS profit split, why reported earnings understated its value, the free cash flow lens and a full price.7 min read

How We Analyze Visa

How we analyze Visa with the Tenet lens: a two-sided payments network, margins among the highest anywhere, a light balance sheet and regulation as the key risk.7 min read

How We Analyze Costco

How we analyze Costco with the Tenet lens: the membership moat, a fortress balance sheet, a demanding valuation, and a decade of steady compounding.7 min read

How We Analyze Coca-Cola

How we analyze Coca-Cola with the Tenet lens: the brand and distribution moat, the asset-light concentrate model, a durable dividend and a full valuation.7 min read

How We Analyze Berkshire Hathaway

How we analyze Berkshire Hathaway with the Tenet lens: insurance float, wholly-owned businesses, why book value undersells it now, and the noise in GAAP earnings.7 min read

How We Analyze Moody's

How we analyze Moody's with the Tenet lens: the credit-ratings duopoly, cyclical bond issuance versus recurring analytics revenue, high margins, and a premium price.7 min read

How We Analyze S&P Global

How we analyze S&P Global with the Tenet lens: the other half of the ratings duopoly plus index and data franchises, high margins, cyclicality, and a premium price.7 min read

How We Analyze Brookfield Corporation

How we analyze Brookfield with the Tenet lens: asset-manager complexity, why simple multiples mislead, non-recourse debt, and an honest hard-to-value stance.7 min read

How We Analyze Texas Instruments

How we analyze Texas Instruments with the Tenet lens: analog chip longevity, the 300mm cost edge, a free cash flow per share religion, and a heavy capex cycle.7 min read

How We Analyze AutoZone

How we analyze AutoZone with the Tenet lens: durable DIY auto-parts demand, a legendary share-count shrink, negative working capital and a debt-funded buyback model.7 min read
Methodology© 2026 Tenet Investing Inc. · Toronto, Canada

Data from Intrinio and Financial Modeling Prep.