H.TO

Methodology : Six axes weighted by the chosen profile. Valuation is scored half on absolute scales, half against the median of the company's industry peers — its sector when the industry is too thin. Measures that do not describe this company's economics are replaced by declared substitutes — here the regulated infrastructure lens. A bounded financial-strength deduction (at most 14 points) then applies by company family: a standard grid (leverage, cash flow, dilution), REIT-specific thresholds, and regulated utilities are judged within their own lens. Where the required measure is not published — banks, insurers, holding companies — nothing is invented: the gap weighs on coverage, of which 15% is reserved for financial strength. Three axes — valuation, profitability and growth — are scored only when their measures cover at least 60% of the axis; below that, the axis is declared absent rather than estimated. A grade is published only if the profile's DOMINANT axis is scored and the profile's coverage reaches 60%. Entering a ranking additionally requires 70% overall coverage; holding companies are not part of general rankings. Same method for everyone, published and reproducible.

This describes the security's characteristics versus its sector — it is not a buy or sell recommendation. Polaris is not a registered adviser.