**Prices are based on expected dividends in 2027.

$LMT
$UNH
$JNJ
$PEP
$PG
$NN
$ASRNL
$RIO
$MO
$ASRNL
$KO
$VPK
$TDIV
$VZ
$O
$MAIN
$BATS
$SHEL
$AD
$DTE
$EOAN

Enter your tickers in the text below

Do you have a stock that passes the 85% rule?

$DNP = 87%

$DTE = 83%

General:

Sit in the chair of an equity analyst.

Go through the following 15 criteria, give the topics ( 1 to 15 stars from 1 to 5 whether the answer is positive or negative), and complete with comments as to why yes/no.

For financial ratios and metrics, explicitly state which quarterly or annual report (10-K / 10-Q) the numbers are from."

At the end, he company must meet at least 85% to qualify to my portfolio.

END SCORE = number of stars achieved/Maximum stars achieved x100%.

Indicate GO or NO GO based on 85%

1)Business Model

1a)Indicate how the company makes its money with a brief business summary

2a)Does the business model look attractive following the average business and equity analyst, if yes/no why?

2Management

2a)Does management have a strong track record of creating shareholder value?

2b)Does management itself have a stake in the company?

3)Competitive advantage

3a)What distinguishes the company from its competitors?

3b)Does the company have pricing power ? why yes/no?

4)End market

4a)What are the company's main competitors?

4b)Is the market growing at an attractive rate?

5)Key risks

5a)What are the key risks to the company?

5b)Are there any potential "black swans"?

6)Balance sheet

6a)Does the company have a healthy balance sheet?

6b)Is there a lot of goodwill on the balance sheet?

7Capital intensity

7a)How much capital does the company need to operate?

7b)Does the company invest a lot in future growth ( growth CAPEX)?

8)Capital allocation

8a)How efficiently does management allocate capital?

8b)Does the company have a high and robust ROIC ( Return on invested Capital)?

9)Profitability

9A)How much profit does the company make per €100 of sales (profit margin)?

9b)Does the company convert most of the profit into free cash flow?

10)Historical Growth

10a)Has the company historically grown sales by more than 6%?

10b)Has the company historically grown profits by more than 7%?

11)Equity Compensation

11a)Does the company use stock compensation to reward management and employees?

11b)Are outstanding shares increasing or decreasing?

12)Outlook

12a)Does the future look good, if yes/no why?

12b)Can the company grow its sales and profits by more than 5 and 7%?

13)Valuation

13a)At what valuation is the company currently trading?

13b)Is the stock price currently undervalued or overvalued? ("Calculate the intrinsic value based on a simple 3-scenario Discounted Cash Flow (DCF) model (Bear, Base, Bull) with a discount rate of 10%.")

13c)Give the average price target euro/dollar as per average stock analysts

14)Owners Earnings

14a)Owners Earnings = EPS Growth + Dividend Return.

Has the company grown owners earnings by more than 10% per year

15)Historical Value Creation

15a)Has the company created a lot of shareholder value in the past?

15b)By how much % has the stock price grown annually since the IPO?

Financial (indicate with bullets green = positive orange=moderate red=bad

Ratio Formula Positive if

P/E Ratio Price Per Share / Earnings Per Share <20

ROIC NOPAT/Total Inv Capital >15%.

D/E Ratio Debt/Equity <1

EPS Net Income/Share Outstanding >10% CAGR

ROE Net income/Equity >15%

EBIT Margin EBIT/Sales >10%

Gross Margin Sales-COGS/Sales >40%

The 10 "Final Touch" Questions

For the criteria below, please rate from 1 to 5 stars.

Scorecard Total

• Less than 20 points: Avoid (High Risk / Low Quality).
• 20 - 29 points: Moderate Quality (Fair Quality)
• 30 - 39 points: Good Quality (Good Quality)
• 40 - 50 points: Exceptional Quality. This is what we are looking for)

Table 1: Competitive Advantages (Moat)

Question

Criterion / Guideline

Q1: Pricing power

Annual price increase of 2-5% possible + sales growth exceeds volume growth.

Q2: High Switching Costs.

Customer retention (Retention Rate) is greater than 95% and the product/service is business critical integrated with the customer.

Q3: Broadening the 'Moat'.

Is competitive advantage increasing? (Visible through sustained pricing power and margin expansion).

Table 2: Economic Characteristics & Sustainability

Demand

Criterion / Guideline

Q4: Scalability

Incidental/marginal margins are greater than 50% + operating margins increase structurally.

Q5: High ROIC

ROIC is greater than 15%, is stable or increasing, and is well above the cost of capital (WACC).

Q6: Profitable Growth

Free cash flow (FCF) is growing faster than sales + stable or expanding margins.

Q7: Customer Diversification

No individual customer accounts for more than 10% of sales + the company has thousands of active customers.

Q8: Smart Capital Location

Disciplined share repurchases, strategic acquisitions (M&A), growing dividends and efficient capital expenditures (CAPEX).

Q9: Adaptability

Successful strategic direction changes (pivots) in the past + emergence of new, promising revenue streams.

Q10: Business threats (Kill the Business).

Are the biggest existential threats clearly identified and actively managed by management?

$DTE

📊 𝐄𝐫𝐠𝐞𝐛𝐧𝐢𝐬𝐬𝐞

- Turnover: €29.9B (+4.7% organic)

- Service revenue: €25.0B (+4.6% organic)

- Adj. EBITDA AL: €11.5B (+7.5% organic)

- Free cash flow AL: €5.7B (+0.7%)

- Adj. net profit: €2.6B (+6.5%)

- EPS adj.: €0.54 (previous year €0.50)

- Net profit: €2.0B (-28.2%)

⠀

🎯 𝐀𝐮𝐬𝐛𝐥𝐢𝐜𝐤𝐜𝐜𝐤

- Adj. EBITDA AL 2026 now at around €47.5B (previously ~€47.4B)

- Free cash flow AL now expected to exceed €19.8B

- Forecast for adj. EPS unchanged at around €2.20

⠀

📌 𝐖𝐢𝐜𝐡𝐭𝐢𝐠𝐬𝐭𝐞 𝐏𝐮𝐧𝐤𝐭𝐞

- Germany passes the 13 million FTTH households mark

- FTTH users increase to 2.2 million, penetration grows to 17.1%

- T-Mobile US raises forecast for postpaid accounts

- Europe continues to grow in mobile, broadband and TV customers

- T-Systems with further growth in digital business and incoming orders

- Strong dollar headwind weighs on reported growth rates

⠀

💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭-𝐀𝐮𝐬𝐬𝐜𝐚𝐠𝐞𝐞

"Deutsche Telekom shows resilience in turbulent times. Our business operations remain stable, largely unaffected by events around the globe."

$CRCL
$KSPI
$MNDY
$CEG
$ABX
$HIMS
$RGTI
$BAYN
$NCH2
$IOS
$MUV2
$BNP
$ENR
$TKA
$SE
$ONON
$QBTS
$UA
$OKLO
$SIE
$ALV
$BABA
$S92
$DTE
$700
$NBIS
$CSCO
$ONDS
$KLAR
$FIG
$NU

Hello Getquin Community,

as I have been wanting to thin out my portfolio and make it more compact for some time now, I have been thinking about the best way to do this over the last few days.

I started today, $KO sold and exchanged for $MAIN exchanged. 🏦 🔄 🥤

The background to this is that I am currently very focused on basic consumer goods and am not yet very well positioned in the area of finance (apart from Visa).

My savings plans for individual shares $SHEL , $WM , $8001 , $MCD , $LIN and $ALV have been stopped and the positions will be liquidated as soon as they are positive.

Individual stocks that are still being invested in on a monthly basis are $NOVO B , $PG , $PEP , $V and $DTE due to the currently attractive valuations.

The sum of the removed savings plans is added to the $IWDA and $FLXI will benefit. I am also adding the $LDGL ETF into my custody account as a "cash cow". 💸

What do you think of my restructuring?

What a wild year so far, one record after another, so it's time for an update and a rough overview of the portfolio.

First of all, some rough facts:

- just under a year ago I was able to report a portfolio balance of 600k euros, now it's already just under 700k ... that's crazy

- I currently have total gains of over 300k (current performance, dividends, sales)

- my total historical gross dividend will crack the 100k mark this year

The portfolio balance is of course only a snapshot and I am therefore particularly pleased about the dividend development. At the end of this year it will be well over 20k. So far, so good ... what do the details say?

Changes in the portfolio:

Ok, what has happened in the portfolio since the beginning of the year?

I have sorted out some low performers, including $MMM
$COK
$LAND

My $INTC I also sold my position completely in 3 steps, after the last purchases around 20$ this is currently too much euphoria and above all a crazy valuation. $ROP I have reduced my position a little, which is only possible after a holding period of 4 years, simply to spread it a little more widely. I will also do that from time to time.

The money freed up by the sales has not yet been completely reinvested, but the majority of it has. With $EIX and $BKW I have built up a separate energy share and that $DTE is now also in the portfolio - I'm in. My $XDJP ETF is doing splendidly and my $XD5E
$VFEM and $VAPX ETFs are doing well and will be expanded further. Otherwise, a lot has flowed into existing candidates (e.g. $ABBV or $PG)many US stocks have been increased and $BRK.B bought a little more. The CHF portfolio was increased by $ZURN , $SLHN , $VZN and the $PGHN and $BCHN I have increased my purchases.

Oh and yes, the chip shop $NOVO B still seems to be alive :-)

My savings plans are continuing as usual, regardless of the current mood. The aim remains to build up a decent passive income with dividends in the long term.

I would say it's going well 🤓

Even though the month of April was only average from my point of view, there are still a lot of positive things to report so far...

...on the one hand, all the sweating and work was probably worth it after all, because after the health-related interruption to my further training, I was able to successfully tick off the last IHK exam (tax law) and can now officially call myself a "financial accountant" 🫠😊

Now the certifications (bookkeeping/payroll accounting) in DATEV follow and then the whole thing is complete...

...well, Schalke also got promoted at the weekend 💙🫶💙💙🫶💙

And last but not least, the next small milestone was reached today, 3 months earlier than planned 💪🏻

Shows me at least that everything together is on the right track...

》But let's stick to April for now 《

Even though it was one of the few months in a long time where we didn't close above the market result, everything is in the green and, as already mentioned, the next milestone was also reached 3 months before the target...

...for the year as a whole, things have been pretty stable so far and are just purring along...

...although my approach is also rather conservative and based on value and dividends in the long term without hype and co...

...so at the end of the month I will have my 3rd full year on the stock market and in my opinion the whole thing doesn't look too bad 😊

Especially as the dividends have already built up a really good positive cash flow after this short time, in addition to the monthly savings installment, and so the snowball starts rolling all by itself...

》Dividends《

This month there were €374.69 in net dividends, which is an increase of 129.45% YOY...

...overall, the YOC ratio is now 6.734% and is slowly approaching my targets 👍🏻

》TOP 3《

$ASWM +19,09% (+9,64%)

$EVD +11,54% (+10,38%)

$YYYY +10,14% (-1,18%)

》FLOP 3《

$MUX -15,50% (+8,47%)

$DTE -14,58% (+0,98%)

$3750 -3,83% (+85,05%)

》Acquisitions《

none

》Disposals《

none

》》Conclusion《《

Things can't always go steeply uphill, but as long as the bottom line is that things are going steadily uphill, everything is fine and I wish us all continued success 🤝

Hello folks,

Here's my review of April 2026. Once again, you can see that a dividend portfolio cushions the bad months well, but doesn't take as much in the good months. Over the year as a whole, I am now on a par with the S&P 500.

📈 Performance:

S&P500: +9.50%

MSCI World: +8.00%

DAX: +7.10%

Dividend portfolio: +3.94%

My high and low performers in March were (top/flop 3):

🟢 ($TXN ) Texas Instruments +43.62%

🟢 ($UNH ) United Health +35.34%

🟢 ($CSCO ) Cisco +16.72%

🔴 ($DTE ) Telekom -10.58%

🔴 ($HSY ) Hershey -11.82%

🔴 ($TSCO ) Tractor Supply -26.20%

Dividends:

April 2026: € 379.73

April 2025: € 273.28

Change: +38.95%

Unilever only paid out its dividend in April this year, last year it was already in March. E.ON also paid out dividends in April, last year only in May.

Adjusted, this would mean an increase of 24.20%. Still a lot, but not quite as much.

Sales:

🟥 None

Purchases:

🟩 Unilever

Savings plans:

($CTAS ) Cintas (50€)

($MC ) LVMH (50€)

($MSFT ) Microsoft (25€)

What else has happened?

As planned, I finished building up my nest egg in April. However, it's gone straight away because I decided to buy a photovoltaic system after all. Even though it's a big investment, it's simply worth it. At the same time, I also need to access some of the money that is earmarked for paying off my first home loan in four years' time. Of course, this will set me back a bit and will slow down further construction and expansion. Repaying the loan is a very high priority for me. But if I see the photovoltaic system as an investment and take a look at the IRR, then that's also quite nice. Unfortunately, it's not obvious, but you have to keep it in mind.

Otherwise, I will reorganize my ETF portfolio. Everything will be simplified. But maybe a separate post about that. @DonkeyInvestor will be pleased.

🥅 Goals for 2026:

I'm trying to reach €85,000 in my dividend portfolio this year. I'm currently at around €77,000, which is still within my target range. The price increases have given me a helping hand. Overall, it's going to be a bit more sporty than I thought.

If you liked the report and would like to read more, you are welcome to follow me,

If you're not interested, you can keep scrolling or use the block function.

+71% in five years

4.06% dividend yield

Company portrait

Competition

M&A transactions

Management

Artificial intelligence

T-Mobile US

Medium-term targets

Quarterly figures

"Safe investment haven"

Link: shorturl.at/GY74H

$DTE