🌏 Ten global quality compounders no one talks about

Before we get to this week's content, this is just a quick update to note that two new features have been added to the Long Equity Data Terminal.

1. You can now toggle between data that captures the last 5 years or 10 years. The default is 10 years, but some times recent trends are better revealed by looking at the last 5 years. You can find the button to toggle between the two underneath the search bar, on the right.

2. I've now increased coverage for Taiwan. Unsurprisingly, one sector in particularly is dominating.

Speaking of multi-year horizons, long-term compounding of fundamentals remains the ultimate test of business quality. This week, we’re looking past short-term noise to highlight ten businesses from across the globe that appear to have mastered the art of reinvesting capital and compounding shareholder value.

1. Descartes Systems

Since 2004, the Canadian tech company - Descartes Systems - has compounded its share price by over 7000%.

They have seen fairly consistent revenue and FCF growth, alongside consistent returns on capital.

2. Games Workshop

In the last 10 years, this UK-based game designer has compounded its share price over 3000%.

Not only are they seeing consistent growth, their returns on capital are rarely below 40%.

3. Persistent Systems

Since 2020, the Indian tech company - Persistant Systems - has grown over 2000%.

While exposed to some cyclicality, their revenue growth over the last few years in particular has been impressive.

4. Obic Co

Since 2012, this Japanese tech company has grown its share price over 1500%.

While returns on capital have been in the low teens, they have been able to deliver consistent growth.

5. ID Logistics

This French logistics company has managed to grow its share price by almost 1500% since 2013.

This has been enabled by very strong revenue and free cash flow growth. Plus, since 2019, they've managed to keep their returns on capital consistently above 15%.