$ (-4,52 %)TYL (-4,52 %)
$GE (-0,1 %)
$GD (-0,29 %)
$CHRW (+0 %)
$ROL (-0,11 %)
$TW (-2,23 %)
$CSGP (+0,57 %)
$RKT (-0,2 %)
$CLX (-1,06 %)
$ROST (-1,05 %)
$FAST (-1,24 %)
$CSCO (+0,48 %)
$YUMC (+1,55 %)
$KOF (+0,56 %)
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$KO (+0,02 %)
$RY (+0,28 %)
$MDLZ (-0,64 %)
$IMBBY (+0,87 %)
$A (-0,01 %)
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$ITT (-0,65 %)
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$EPD
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$CP (-0,82 %)
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$ROG (+1,02 %)
$BK (-0,69 %)
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$PM (-0,45 %)
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Best Companies to Own: Methodology

The companies on this list are covered by Morningstar Research Services’ equity analysts and have shares available to US investors. This means that Morningstar equity analysts have calculated fair value estimates for the shares of the companies that trade on US exchanges. As a result, most of the companies on this list are based in the US.

Within that coverage list, the best companies meet the following criteria:

• Wide Economic Moat. The Morningstar Economic Moat Rating summarizes the length of a company’s competitive advantages. An economic moat is a structural feature allowing a firm to generate excess profits over a long period. If Morningstar Research Services believes that excess returns will persist for 20 years or more, that company earns a wide moat rating.
• Standard or Exemplary Capital Allocation.The stock’s Morningstar Capital Allocation Rating is an assessment of the quality of management’s capital allocation, with particular emphasis on the firm’s balance sheet, investments, and shareholder distributions. Capital allocation is judged from an equity shareholder’s perspective, considering companies’ investment strategy and valuation, balance-sheet management, and dividend and share buyback policies on a forward-looking basis. A company can receive an Exemplary, Standard, or Poor Capital Allocation Rating.
• Low or Medium Fair Value Uncertainty. The fair value Morningstar Uncertainty Ratingrepresents the predictability of a company’s future cash flows and, therefore, the level of certainty in the fair value estimate of that company. The Uncertainty Rating for a company can be Low, Medium, High, Very High, or Extreme. It captures a range of likely potential intrinsic values for a company based on the characteristics of the business underlying the stock, including such things as operating and financial leverage, sales sensitivity to the economy, product concentration, and other factors. The more predictable cash flows, the smaller the range of potential intrinsic values, the lower the uncertainty.

What Gives a Company an Economic Moat?

Companies with moats have one or more of the following characteristics:

• Network Effect. Lots of people are using the service, which then makes the service more valuable to the people who use it.
• Intangible Assets. Patents, brands, regulatory licenses, and other intangible assets can prevent competitors from duplicating a company’s products or allow the company to charge a significant price premium.
• Cost Advantage. Firms with a structural cost advantage can either undercut competitors on price while earning similar margins or charge market-level prices while earning relatively high margins.
• Switching Costs. When it would be too expensive or troublesome to stop using a company’s products, the company often has pricing power.
• Efficient Scale. When a niche market is effectively served by one or a small handful of companies, there is no room or incentive for potential competitors to enter the market.

To maintain analysts’ independence, Morningstar Research Services does not publicly rate its parent company Morningstar Inc. Therefore, Morningstar, Inc. is not on the list of the best companies available to US investors.

https://www.morningstar.com/stocks/best-companies-own-2026-edition

• Group sales grew by 7% at constant exchange rates (CER; 2% in CHF) in the first nine months, driven by high demand for our innovative medicines and diagnostics.
• Pharmaceuticals Division sales rose by 9% (4% in CHF) due to continued high growth in sales of medicines for the treatment of severe diseases; Phesgo (breast cancer), Xolair (food allergies), Hemlibra (haemophilia A), Vabysmo (serious eye diseases) and Ocrevus (multiple sclerosis) were the top growth drivers.
• Diagnostics Division sales increased by 1% (-4% in CHF) as demand for pathology solutions and molecular diagnostics more than offset the impact of healthcare pricing reforms in China.

Outlook for 2025 earnings raised

Roche $ROG (+1,02 %) expects an increase in Group sales in the mid single digit range (CER). Core earnings per share are targeted to develop in the high single to low double digit range (CER). Roche expects to further increase its dividend in Swiss francs.

https://www.roche.com/investors/updates/inv-update-2025-10-23

$ROG (+1,02 %)

Roche has said that it and its U.S. unit Genentech remain committed to working with the Trump administration towards strengthening American manufacturing and making medicines more affordable for patients in the United States.

$ROG (+1,02 %)

CHMP recommends EU approval of Roche’s subcutaneous formulation of Lunsumio for people with relapsed or refractory follicular lymphoma

• 
  Lunsumio provides high and long-lasting response rates, with approximately two-thirds of patients with a complete response in remission after four years1
• Subcutaneous Lunsumio has potential to substantially reduce treatment administration time with an approximately one minute injection, compared with 2-4 hours IV infusion
• If approved, Lunsumio would be the first treatment available for people with follicular lymphoma after two or more lines of systemic therapy, which is both fixed-duration and subcutaneously administered

$ROG (+1,02 %)

Roche’s Board of Directors proposes exchange of Genussscheine for participation certificates (Partizipationsscheine)

• 
  Participation certificates (Partizipationsscheine) with a nominal value of CHF 0.001 each will replace the non-voting equity securities (Genussscheine).
• Reduction of the nominal value of the bearer shares (Inhaberaktien) from CHF 1 to CHF 0.001 in line with the nominal value of the new participation certificates.
• Participation certificates are economically equivalent to Genussscheine and will be listed on the SIX Swiss Exchange.
• Discontinuation of printed dividend vouchers and a further transition to intermediated securities, in line with efficient and modern market practices.
• The exchange of Genussscheine for participation certificates and the reduction as well as the repayment of the nominal value of the bearer shares will be submitted to the shareholders for approval at the 2026 Annual General Meeting