value investing - Ceta Research (Page 2)

DCF Threshold strategy cumulative growth vs S&P 500, Canada TSX 2000–2025.

DCF

DCF Threshold in Canada: 9.32% CAGR and Negative Down Capture Over 25

We ran the DCF Threshold screen on 25 years of Canadian stocks from the TSX. The signal: buy the 30 most undervalued companies by Gordon Growth DCF discount, filtered for ROE above 8%, D/E below 1.5, and positive operating cash flow. The strategy returned 9.32% annually vs

EV/EBITDA sector-relative CAGR by exchange (2000-2025). Horizontal bar chart showing six Western exchanges above SPY line and seven Asian exchanges below.

global stocks

EV/EBITDA Sector-Relative Value Globally: The West Works, the East

We ran the same sector-relative EV/EBITDA screen across 13 global stock exchanges from 2000 to 2025. Buy when a quality stock's EV/EBITDA falls 30% or more below its sector median. Hold the top 30 deepest discounts, rebalance annually. The result splits cleanly along geography: every Western

EV/EBITDA

EV/EBITDA Sector Discount on US Stocks: 25 Years of Data

When a profitable company trades at a 30% discount to its sector peers on EV/EBITDA, something tends to happen. Either the business is genuinely broken, or the market has mispriced it. We built a screen to find the latter, ran it on 25 years of US stock data, and

Growth of $10,000 invested in EV/EBITDA sector-relative UK strategy vs S&P 500 from 2000 to 2025, showing steady outperformance with lower drawdowns

UK stocks

EV/EBITDA Sector Discount on UK Stocks: Consistent, Not Spectacular

The UK market doesn't generate headlines. It doesn't deliver the +74% years you get in India or the explosive recoveries you see in the US after crises. What 25 years of LSE data gives you is something more useful for most investors: consistent, steady outperformance with

EV/EBITDA sector-relative strategy on SIX Swiss Exchange vs S&P 500 cumulative returns 2002-2025. Strategy returned 827.54% total vs 530.71% for SPY.

Switzerland stocks

EV/EBITDA Sector-Relative Value on Switzerland: 9.32% CAGR With 35%

We ran a sector-relative EV/EBITDA screen on 23 years of Swiss stock data from the SIX Exchange. The signal: buy when a stock's EV/EBITDA falls below 70% of its sector median, filtered for quality (ROE > 8%, D/E < 2.0, MCap > CHF 500M)

EV/EBITDA sector-relative strategy on JPX vs S&P 500 cumulative returns 2006-2025. Strategy returned approximately 149% total vs 530.71% for SPY.

Japan stocks

EV/EBITDA Sector-Relative Value on Japan: Value That Needs Government

We ran a sector-relative EV/EBITDA screen on 19 years of Japanese stock data from JPX (Tokyo Stock Exchange). The signal: buy when a stock's EV/EBITDA falls below 70% of its sector median, filtered for quality. The result: 3.64% CAGR vs 7.64% SPY, -4.00%

Growth of $10,000 invested in EV/EBITDA sector-relative India strategy vs S&P 500 from 2000 to 2025, showing the high-volatility outperformance trajectory

India stocks

EV/EBITDA Sector Discount on India: High Returns, High Volatility

Indian equities aren't for the cautious. We ran a sector-relative EV/EBITDA screen on BSE and NSE stocks from 2005 through 2025, and the results reflect everything that makes Indian markets both exciting and punishing: 11.18% CAGR with a max drawdown of -54.88%. The strategy outperformed

EV/EBITDA sector-relative strategy on XETRA vs S&P 500 cumulative returns 2000-2025. Strategy returned 687.41% total vs 530.71% for SPY.

Germany stocks

EV/EBITDA Sector-Relative Value on Germany: 8.60% CAGR Across All 25

We ran a sector-relative EV/EBITDA screen on 25 years of German stock data from XETRA. The signal: buy when a stock's EV/EBITDA falls below 70% of its sector median, filtered for quality (ROE > 8%, D/E < 2.0, MCap > €500M). The strategy returned

EV/EBITDA sector-relative strategy on TSX vs S&P 500 cumulative returns 2001-2025. Strategy returned 655.27% total vs 530.71% for SPY.

Canada stocks

EV/EBITDA Sector-Relative Value on Canada: An Honest Assessment

We ran a sector-relative EV/EBITDA screen on 24 years of Canadian stock data from the TSX. The signal: buy when a stock's EV/EBITDA falls below 70% of its sector median, filtered for quality. The result: 8.42% CAGR vs 7.64% SPY. On the surface, that&

P/E mean reversion

P/E Mean Reversion Across 13 Global Markets: The West Works, The East

We tested sector-relative P/E mean reversion on 13 global stock markets from 2000 to 2025. The signal: buy when a stock's P/E drops below 60% of its sector median, filtered for quality (ROE > 8%, D/E < 2). The result splits cleanly along geography. Western

P/E mean reversion

P/E Mean Reversion (Sector-Relative): 9.69% CAGR Over US Stock Data

We tested a sector-relative P/E mean reversion screen on 25 years of US stock data from NYSE, NASDAQ, and AMEX. The signal triggers when a quality stock's P/E ratio falls below 60% of its sector's current median, meaning it's trading at least

P/E mean reversion

P/E Mean Reversion (Sector-Relative): 11.81% CAGR Over UK Stock Data

We tested a sector-relative P/E mean reversion screen on 25 years of UK stock data from the London Stock Exchange. The signal buys stocks trading at a deep discount to sector peers: stock P/E below 60% of its sector median, filtered for quality. The strategy returned 11.81%