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Research only. Not investment advice.

NYSE: VWatchlist

Base fair value: $262
Buy below: $222
Price: $289.40

SEC filings

10-K, 10-Q, 8-K, with links kept

Financial statements

Ten years annual, twenty quarters

Earnings calls

The latest eight transcripts

Market context

Prices, estimates, Treasury rates

How it works

What happens when you press Analyze

Evidence

Everything on the record, frozen in place

Ten years of statements, the latest filings, and eight earnings calls are captured into one dated snapshot. Every claim in the report points back to this record, so you can audit it later.

Valuation

A deterministic engine runs the numbers

Code computes the valuation, not the language model. Competing models are scored against the business and the best fit wins. Out come bear, base, and bull fair values with the assumptions attached.

Judgment

Your lens sets three gates

The price you would pay. The return you require. The confidence you demand. Each gate is checked in the open, with both sides of every comparison shown.

Verdict

One word you can act on

Plus the buy-below price that would change it. When no price clears your gates, Sursus says so plainly instead of stretching the math to please you.

Annual report 10-K, FY2025sec.gov

Quarterly filings, latest 20 quarterssec.gov

Financial statements, 10 yearsXBRL

Earnings calls, latest 8 transcriptsverbatim

Prices, estimates, Treasury curvemarket data

snapshot frozen, snapshot apr 2026

OpCo DCFGrowth Path DCFResidual IncomeREIT FFO / AFFODividend-BackedAsset Floor

Bear $214Base $262Bull $301

Is the price at or below your buy-below?blocked

Today$289.40againstBuy below$222.00

Does the weighted return clear your hurdle?blocked

Expected9.1%againstYour hurdle10.4%

Is the evidence strong enough for you?clears

Confidence82%againstYour floor70%

Watchlist

Buy below

$222.00

Quality is proven, the price is not. Sursus keeps the case current and prompts a fresh look if the price reaches your buy-below.

Evidence

Everything on the record, frozen in place

Ten years of statements, the latest filings, and eight earnings calls are captured into one dated snapshot. Every claim in the report points back to this record, so you can audit it later.

Annual report 10-K, FY2025sec.gov

Quarterly filings, latest 20 quarterssec.gov

Financial statements, 10 yearsXBRL

Earnings calls, latest 8 transcriptsverbatim

Prices, estimates, Treasury curvemarket data

snapshot frozen, snapshot apr 2026

Valuation

A deterministic engine runs the numbers

Code computes the valuation, not the language model. Competing models are scored against the business and the best fit wins. Out come bear, base, and bull fair values with the assumptions attached.

OpCo DCFGrowth Path DCFResidual IncomeREIT FFO / AFFODividend-BackedAsset Floor

Bear $214Base $262Bull $301

Judgment

Your lens sets three gates

The price you would pay. The return you require. The confidence you demand. Each gate is checked in the open, with both sides of every comparison shown.

Is the price at or below your buy-below?blocked

Today$289.40againstBuy below$222.00

Does the weighted return clear your hurdle?blocked

Expected9.1%againstYour hurdle10.4%

Is the evidence strong enough for you?clears

Confidence82%againstYour floor70%

Verdict

One word you can act on

Plus the buy-below price that would change it. When no price clears your gates, Sursus says so plainly instead of stretching the math to please you.

Watchlist

Buy below

$222.00

Quality is proven, the price is not. Sursus keeps the case current and prompts a fresh look if the price reaches your buy-below.

A stock research report you can check.

See the valuation, assumptions, risks, and evidence together. The example below explains the report format.

Visa Inc.

NYSE: VLong-term quality investorSnapshot Apr 2026

WatchlistConfidence 82%

Visa is an exceptional business. That does not automatically make it an exceptional investment. The verdict separates quality from price: the moat is proven, the entry is not yet.

Factor scores

Quality94

Moat95

Cash generation88

Valuation48

Risk66

Valuation

Bear

$214

Base

$262

Bull

$301

Buy below

$222

price today $289.40

Scenario returns, annualized

BullCross-border re-acceleration holds+14%

BaseVolume growth, stable take rates+9%

BearRegulation compresses interchange-7%

Key risks

Regulatory pressure on interchangeElevated

Account-to-account payment displacementWatch

Cross-border mix and FX dragWatch

Watch next quarter

Reg II routing impact on debit economics

Visa Direct growth against guidance

Evidence

10-K FY2025Q2 FY2026 callXBRL statementsEstimates

Illustrative example. Figures are not current market data. Explore the sample report →

Verdict first, reasons attached

Confidence is quantified and every penalty behind it is named.

Numbers from the engine

Bear, base, and bull fair values come from deterministic code, with the binding buy-below price.

Claims cite filings

Each conclusion links back to the snapshot it was drawn from.

Your lens

Same company. Different investor. Different verdict.

Your lens sets the gates: margin of safety, hurdle rate, dealbreakers. Sursus applies it to every analysis.

Your lens settings

Margin of safety15%

Hurdle rate10.4%

Holding period10+ years

V through this lens

Watchlist$222.00

The business clears every quality bar. The price does not clear yours yet, so the case stays on your watchlist with the buy-below attached.

The analysis does not end at the verdict.

Investor and Pro plans include quarterly reviews and research alerts. The Free plan includes saved reports you can revisit.

Day zero

The case is set

Verdict, thesis, bear case, and your buy-below price are stored as the baseline to defend.

Every 91 days

Scheduled review

The analysis re-runs on the new quarter's filings and tells you what changed in the thesis, not just the price.

Any trading day

Your buy-below is reached

When the market dips through your buy-below, a research prompt arrives with the full case attached, so you decide with fresh eyes.

Filing day

Material events screened

New filings and call transcripts are screened against your thesis. Noise is dropped, drift is flagged.

Pricing

Start free. Upgrade when the workload grows.

Free

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For your first real analyses.

3 analyses a month
Track 10 companies
Full memo: valuation, risks, evidence
Shareable reports

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InvestorMore research

$29per month

or $290 a year

For active long-term investors.

100 analyses a month
Track 75 companies
Quarterly reviews and alerts
20 follow-up questions per analysis

Choose Investor

Pro

$79per month

or $790 a year

For a larger watchlist and a regular research workflow.

400 analyses a month
Track 250 companies
40 follow-up questions per analysis
Everything in Investor

Choose Pro

Annual plans are paid upfront and save two months. Analyses reset each calendar month. Automatic reruns use the same allowance.

Questions, answered straight

Is this investment advice?

No. Sursus is research and screening software. It builds the case, shows the evidence, and computes the prices your own lens implies. You make the decisions.

Where do the numbers come from?

Code calculates valuations from financial data and model assumptions. AI helps interpret the evidence and write the report. Sources can be incomplete, and AI can make mistakes. Check the source dates, assumptions, and figures before you rely on an output.

What is the buy-below price?

The highest price at which your own gates would call the stock attractive, given your margin of safety, hurdle rate, and confidence floor. When no price qualifies, Sursus tells you why instead of inventing one.

What does an analysis include?

A verdict with quantified confidence, fair value in bear, base, and bull cases, factor scores, the key risks, the assumptions behind everything, and citations to the underlying filings.

What happens after I analyze a stock?

Your report is saved so you can return to it. Investor and Pro plans add quarterly monitoring and research alerts. The Free plan includes three analyses a month and tracking for ten companies.

Can I try Sursus without a credit card?

Yes. Create a free account to run three stock analyses each month and track ten companies. Investor costs $29 a month or $290 a year. Pro costs $79 a month or $790 a year. You choose whether to upgrade.

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