slightly upwards. But here’s what I see:
The study identified 61 companies that outperformed their peers from 2019 to 2024, including investment bank JPMorgan Chase; insurance company Progressive; ASML, the Dutch manufacturer of machines for making chips; and Builders FirstSource, a construction products and services company. This was, of course, a tough period that included the COVID pandemic, followed by inflation and a labor shortage. Still, on average, those companies beat the revenue growth of their peers by an impressive five percentage points and beat annual profitability by seven percentage points. The result: a five-point edge in total shareholder returns.
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