global stocks - Ceta Research (Page 2)

Horizontal bar chart comparing the R&D efficiency screen's CAGR across 11 exchanges, from the UK at 7.34% down to Korea at -1.52%, with the S&P 500 marked as a cross-market reference line.

global stocks

R&D Efficiency Across 11 Exchanges: UK Beats FTSE by +6.12%, India Trails Sensex

We reran the R&D efficiency screen across 11 exchanges with local benchmarks. The UK beats the FTSE 100 price index by +6.12% annually, the strongest result globally. India underperforms the Sensex by 5.27pp. And two positive results turn out to rest on foreign companies' secondary listings.

FCF growth

FCF Growth Across 13 Global Exchanges: Where It Works and Where It Fails

We ran the same FCF growth screen across 13 exchanges over 25 years. Nine of 13 beat their local benchmark, but the real story is data coverage: once periods without usable prices are held in cash, the UK collapses from best market to barely positive.

EV/EBITDA sector-relative CAGR by exchange (2000-2024). Bar chart showing 10 markets ahead of their local benchmark, 3 behind, Norway and South Africa with insufficient data.

global stocks

EV/EBITDA Sector-Relative Value Across 15 Global Markets: Most Beat Their Local Index

We ran sector-relative EV/EBITDA on 15 global exchange sets (2000-2025) against each market's own local benchmark. 10 of the 13 with a usable record show positive excess. India, Japan and Thailand underperform. UK leads at +8.63%, US is the cleanest at +3.24%.

Quality Momentum CAGR by exchange, 17 global exchanges compared.

momentum investing

Quality Momentum Tested on 17 Global Exchanges: India Dominates

We backtested quality + momentum on 17 exchanges worldwide. India leads at 19% CAGR. South Africa surprises with 16.2% down capture. Most developed markets underperform the S&P 500 — momentum adds return but crashes harder in downturns.