投资的关键，并不是评估一个行业对社会发展的影响会有多大，也不是评估一个行业将会增长多少，而是具体研究一家公司，确定这家公司的竞争优势是什么，在行业里相对同行而言有多么强大，而且最重要的是，这种竞争优势能持续多久。
| Symbol | Company Name | Gross Margin | Debt/EBITDA | ROIC | FCF Margin |
|---|---|---|---|---|---|
| WINA | Winmark Corporation | 96.24% | 1.13 | 123.07% | 53.46% |
| MA | Mastercard Incorporated | 100.00% | 1.05 | 43.93% | 51.64% |
| TPL | Texas Pacific Land Corporation | 93.54% | - | 29.96% | 63.73% |
| V | Visa Inc. | 97.77% | 0.79 | 26.17% | 54.51% |
| DMLP | Dorchester Minerals, L.P. | 94.31% | 0.01 | 21.90% | 82.76% |
| ANET | Arista Networks Inc | 64.09% | - | 21.77% | 50.90% |
| KNSL | Kinsale Capital Group, Inc. | 26.43% | 0.32 | 21.43% | 54.55% |
| CPRX | Catalyst Pharmaceuticals, Inc. | 83.50% | 0.01 | 21.23% | 50.05% |
| QFIN | Qifu Technology, Inc. | 63.72% | 0.75 | 20.13% | 57.40% |
| SIGA | SIGA Technologies, Inc. | 65.98% | 0.02 | 18.39% | 51.42% |
| ORLA | Orla Mining Ltd. | 71.86% | 1.86 | 16.04% | 123.43% |
| PLMR | Palomar Holdings, Inc. | 30.93% | - | 16.01% | 51.63% |
| MKTX | MarketAxess Holdings Inc. | 62.06% | 0.17 | 14.96% | 50.18% |
| NRP | Natural Resource Partners L.P. | 87.35% | 0.81 | 14.00% | 91.96% |
| BOW | Bowhead Specialty Holdings Inc. | 33.83% | 0.06 | 12.79% | 64.79% |
| NMIH | NMI Holdings, Inc. | 80.66% | 0.80 | 12.56% | 56.40% |
| BSM | Black Stone Minerals, L.P. | 86.69% | 0.23 | 12.28% | 58.04% |
| MTG | MGIC Investment Corporation | 85.88% | 0.62 | 11.05% | 62.06% |
| ADEA | Adeia Inc. | 100.00% | 2.18 | 10.53% | 52.88% |