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• Oruka Therapeutics recently reported third quarter 2025 results, noting a net loss of US$30.28 million and closed a substantial shelf registration of approximately US$756 million for common stock.
• Positive interim Phase 1 results for ORKA-001 in psoriasis, together with US$180 million in PIPE financing, have strengthened Oruka’s ability to advance multiple clinical trials and extend its cash runway past key milestones.
• We’ll explore how encouraging Phase 1 efficacy data for ORKA-001 underpins a shifting investment narrative for Oruka Therapeutics.

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What Is Oruka Therapeutics’ Investment Narrative?

For those looking at Oruka Therapeutics, the investment story hinges on belief in the company’s targeted therapies for autoimmune and inflammatory diseases. The positive interim Phase 1 results for ORKA-001 have set a new tone for the short-term, with efficacy signals and an extended dosing window potentially giving Oruka an edge if these results hold up in Phase 2 trials. Coupled with the recent US$180 million PIPE financing and the US$756 million shelf registration, there’s fresh confidence that Oruka’s cash position is strong enough to see it through upcoming clinical milestones. However, the business is still running at a loss with no revenue and a young management team, so any setback in clinical progress or further dilution could quickly re-focus attention on risk rather than opportunity. The news flow gives investors new reasons for optimism, but it also sharpens the spotlight on execution in the next year.

But, if management’s short tenure raises questions, investors should weigh the implications for continuity and focus.

In light of our recent valuation report, it seems possible that Oruka Therapeutics is trading beyond its estimated value.

Exploring Other Perspectives

You’ll find two fair value estimates from the Simply Wall St Community for Oruka, ranging from US$4.62 to US$46.20. Community members are weighing high clinical hopes against ongoing losses and frequent capital raisings, and their valuation views reflect these sharply different outlooks. Consider how these opinions and emerging risks could impact the company’s journey.

Explore 2 other fair value estimates on Oruka Therapeutics – why the stock might be worth less than half the current price!

Build Your Own Oruka Therapeutics Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes – extraordinary investment returns rarely come from following the herd.

• A great starting point for your Oruka Therapeutics research is our analysis highlighting 5 important warning signs that could impact your investment decision.
• Our free Oruka Therapeutics research report provides a comprehensive fundamental analysis summarized in a single visual – the Snowflake – making it easy to evaluate Oruka Therapeutics’ overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

• At its recent Investor Day, Chevron unveiled a long-term roadmap targeting more than 10% annual free cash flow growth, US$10–20 billion in annual share buybacks through 2030, and entry into supplying natural gas-fired power for AI data centers, with its first project set for West Texas by 2027.
• This marks a significant push by Chevron to build shareholder value while diversifying into new energy segments aligned with accelerating demand for data center power fueled by AI adoption.
• We’ll explore how Chevron’s ambitious stock buyback plan and expansion into AI-driven energy solutions may alter its investment outlook.

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Chevron Investment Narrative Recap

To be a Chevron shareholder, you need confidence in the company’s ability to sustain oil and gas cash flows amid the energy transition and capitalize on production growth and efficiency gains as outlined in its 2030 roadmap. The recent announcement of leadership changes in Chevron’s finance team, notably the appointment of Amit R. Ghai as Controller effective March 2026, is unlikely to materially affect the company’s near-term catalysts, namely, integration of the Hess acquisition and execution on cost reductions, or meaningfully shift its largest risk, long-term oil demand pressure and slow diversification.

Among recent milestones, Chevron’s outlined share buyback target of US$10–20 billion per year to 2030 stands out. This ambitious capital return plan is most relevant when assessing the company’s ability to deliver against its free cash flow growth targets and maintain high shareholder returns, especially as it addresses the evolving energy mix.
Despite these strengths, investors should also be aware that unlike revenue growth, Chevron’s relative lack of rapid diversification leaves it exposed if…

Read the full narrative on Chevron (it’s free!)

Chevron’s outlook anticipates $196.0 billion in revenue and $21.8 billion in earnings by 2028. This scenario depends on a 1.2% annual revenue growth rate and a $8.1 billion increase in earnings from the current $13.7 billion.

Uncover how Chevron’s forecasts yield a $172.04 fair value, a 9% upside to its current price.

Exploring Other Perspectives

Simply Wall St Community members offered 27 individual fair value estimates for Chevron, spanning US$125.69 to US$325.49 per share. While many anticipate production growth and cost reductions, opinions can differ widely, consider how slow movement into renewables may shape Chevron’s long-term resilience.

Explore 27 other fair value estimates on Chevron – why the stock might be worth 20% less than the current price!

Build Your Own Chevron Narrative

Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

If you’re looking for a multi-bagger, there’s a few things to keep an eye out for. Firstly, we’d want to identify a growing return on capital employed (ROCE) and then alongside that, an ever-increasing base of capital employed. Put simply, these types of businesses are compounding machines, meaning they are continually reinvesting their earnings at ever-higher rates of return. So when we looked at the ROCE trend of Kencana Agri (SGX:BNE) we really liked what we saw.

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For those who don’t know, ROCE is a measure of a company’s yearly pre-tax profit (its return), relative to the capital employed in the business. Analysts use this formula to calculate it for Kencana Agri:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.24 = US$46m ÷ (US$290m – US$96m) (Based on the trailing twelve months to June 2025).

So, Kencana Agri has an ROCE of 24%. In absolute terms that’s a great return and it’s even better than the Food industry average of 13%.

View our latest analysis for Kencana Agri

Above you can see how the current ROCE for Kencana Agri compares to its prior returns on capital, but there’s only so much you can tell from the past. If you’re interested, you can view the analysts predictions in our free analyst report for Kencana Agri .

Kencana Agri is showing promise given that its ROCE is trending up and to the right. The figures show that over the last five years, ROCE has grown 107% whilst employing roughly the same amount of capital. So our take on this is that the business has increased efficiencies to generate these higher returns, all the while not needing to make any additional investments. On that front, things are looking good so it’s worth exploring what management has said about growth plans going forward.

As discussed above, Kencana Agri appears to be getting more proficient at generating returns since capital employed has remained flat but earnings (before interest and tax) are up. And with the stock having performed exceptionally well over the last five years, these patterns are being accounted for by investors. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.

Kencana Agri does come with some risks though, we found 3 warning signs in our investment analysis, and 1 of those is a bit concerning…

High returns are a key ingredient to strong performance, so check out our free list ofstocks earning high returns on equity with solid balance sheets.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.