Compass Group PLC ADR

CMPGY: PINX (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$63.60	Zqgdwg	Yjhhjslh

Compass Earnings: Tailwinds Are Persisting Well Into 2025

Michael Field

May 15, 2024

Narrow-moat Compass Group delivered a solid first-half update. Organic revenue growth was up 11.2%, a strong performance. Clearly, growth is falling from the elevated levels of 2022 and 2023 but remains high as tailwinds persist. We view the negative share price reaction to these strong results as evidence of the high expectations built into Compass Group's current share price. Compass Group shares screen as fairly valued relative to our GBX 2,250 fair value estimate.

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