Growth Strategy
Case studies on growth strategy.
Strategy Case: 1st Source — Funding the Next Engine of Growth
For 2026 planning, 1st Source’s leadership must recommend where the bank should place its next increment of growth capacity: deepen local commercial and small-business relationships, expand selected national specialty-finance activities, or pace both through explicit line-level hurdles. The recommendation should address credit discipline and state what evidence would change it. Read case
A10 Networks — Where to Focus Commercial Attention?
A10 Networks entered the second half of 2026 with strong reported growth and a changing revenue mix. First-half revenue was $155.1 million, up 14.5% year over year. Enterprise revenue rose $35.3 million, while service-provider revenue fell $15.7 million. At the same time, one unnamed customer represented 38% of both second-quarter and first-half revenue. Read case
Abbott and Exact Sciences: How Much Integration, and Where?
Six months after Abbott completed its acquisition of Exact Sciences, the combined company had reported its first full quarter with Exact included in reported results. Abbott's acquisition presentation forecast at least $100 million in annual pretax synergies by 2028 and projected earnings dilution through 2027. Read case
Abeona Therapeutics: Scaling an individualized launch after NTAP
On October 1, a new Medicare hospital payment pathway for ZEVASKYN took effect. Two days later, Abeona Therapeutics had an early launch to assess: Q2 product revenue had risen sequentially, treatment centers were being added, and the company had disclosed a batch that could not be commercially released under its specifications. Read case
Abercrombie & Fitch Co.: Capital choices after the tariff refund
Abercrombie & Fitch Co. ended its second quarter with 15 consecutive quarters of year-over-year sales growth. It also reported flat comparable sales and an operating margin that management estimated had received a 790-basis-point benefit from about $100 million of IEEPA tariff refunds. At the same time, its FY2026 outlook called for continued store investment and repurchases. Read case
ABM Industries’ M&D Growth: What Follows Boise?
ABM Industries had expanded its Manufacturing & Distribution (M&D) business through organic growth and the February acquisition of WGNSTAR, a semiconductor-focused technical services provider. In September, ABM announced a Boise Technical Training Center expected to support about 500 participants annually at launch. Read case
Academy Sports + Outdoors: Where Should the Next Capital Go?
On September 9, Academy Sports + Outdoors reported that second-quarter fiscal 2026 net sales increased 3.0%, even as comparable sales slipped 0.4%. Comparable transactions fell 5.3%, while average ticket rose 4.9%. E-commerce sales also grew, though the release and 10-Q reported different growth rates. Read case
Acadia Healthcare: Where Should the Next Growth Dollar Go?
Acadia Healthcare had added 322 beds during the first half of 2026 and said it was still ramping occupancy at facilities opened in recent years. At the same time, its second-quarter same-facility revenue was nearly flat, even as admissions and patient days increased. Management lowered its fiscal 2026 capital-spending outlook and raised its operating-cash-flow forecast. Read case
Accenture: Where Should the Next Investment Go?
On October 1, Accenture reported fiscal 2026 revenue growth of 5% in local currency, $84.5 billion in bookings, and $11.6 billion in free cash flow. Read case
The AES Corporation: Capital Allocation During a Pending Take-Private
On the evening of August 5, 2026, AES Corporation faced a portfolio decision under unusual constraints. The company had signed a $15-per-share agreement to be acquired by a consortium led by Global Infrastructure Partners and EQT. Shareholders had approved the transaction, and the HSR waiting period had expired, but other regulatory approvals and closing conditions remained. Read case
Airbnb: What should come after the stay?
On May 8, 2024, Airbnb reported first-quarter revenue of $2.1 billion, up 18% from a year earlier. Its combined measure of Nights and Experiences Booked had increased 9.5%. The letter credited booking growth, a modest increase in average daily rates, and the timing of Easter among the factors behind revenue growth. Read case
Akamai: Build for Anthropic—or Preserve Room to Maneuver?
On September 24, 2026, Akamai Technologies announced that Anthropic had committed to purchase $11.6 billion of cloud services over seven years. The agreement supports Anthropic's growing CPU workload needs on Akamai's distributed cloud infrastructure. Read case
Align Technology — Choosing the Next Growth Lever
You are an outside strategy adviser preparing a recommendation about Align Technology’s 2024 growth priorities. Use only information available by 1 February 2024. Recommend which of two publicly disclosed levers Align should emphasize, or whether it should stage both: Read case
Allegion: what should the incoming International president prioritize?
On September 8, 2026, Allegion disclosed a leadership transition for its International segment. Serge Zappone, then vice president and general manager for Allegion APAC, would become President, International and Senior Vice President on January 1, 2027. He would report to Allegion President and CEO John Stone. Timothy Eckersley planned to retire at year-end. Read case
Alliant Energy: Building Ahead or Waiting for the Next Load?
On August 21, 2026, Alliant Energy's leadership faced a planning question that was growing harder to defer: how much should its operating utilities commit to serve the next wave of large electricity customers, and what evidence should be required before each new commitment? Read case
Allstate: How fast should homeowners growth travel?
Allstate had a homeowners growth opportunity and a risk-allocation problem at the same time. Its policy count was rising, new applications were increasing, and its reported first-half homeowners underwriting result had improved sharply from the prior year. Read case
Alphabet’s next compute allocation
Alphabet’s next infrastructure plan must support two demanding uses of AI compute. Google’s consumer products—including Search, Gemini, and YouTube—need capacity for models, inference, and product improvement. Google Cloud needs capacity to deliver customer workloads, meet commitments, and compete for new enterprise demand. Read case
Amcor and Berry: Is Scale Worth the Shares?
On 19 November 2024, Amcor and Berry Global announced an all-stock combination. Their boards had unanimously approved and signed the agreement. Amcor shareholders would later vote yes or no on issuing Amcor shares under that agreement; Berry shareholders would vote separately on the merger. The proxy materials and shareholder vote were still ahead. Read case
AEP: Planning for a Texas load surge
On July 30, 2026, American Electric Power reported that contracted load growth through 2030 had reached 69 gigawatts (GW), after six GW of new signed agreements in the second quarter. Read case
American Water: sequencing a regulated growth plan under merger uncertainty
American Water’s September 2026 investor presentation laid out a large standalone growth plan: $17.0–17.5 billion of regulated system investment and $2.0–2.5 billion of regulated acquisitions from 2026 through 2030, or $19–20 billion in total. The longer 2026–2035 plan was $46–48 billion. Read case
Ameriprise Financial: When to Turn Authorization into Repurchases?
On September 29, Ameriprise Financial announced that its board had authorized an additional $5.5 billion in share repurchases through September 30, 2028. The announcement did not require the company to buy any minimum number of shares. Management could begin or suspend repurchases at any time, depending on market conditions and other factors. Read case
AMETEK: Integrating Indicor Without Losing What It Bought
On 26 August 2026, AMETEK completed its $5.0 billion all-cash acquisition of instrumentation businesses from Indicor. AMETEK said the acquired businesses would join EIG or EMG according to product offerings and market alignment. That disclosed assignment establishes where the portfolio sits in the organization. Read case
Analog Devices: Setting the Next Capacity Rule
At 7:01 a.m. on August 19, Analog Devices (ADI) reported third-quarter fiscal 2026 revenue of $4.02 billion, up 40% year over year, and forecast fourth-quarter revenue of $4.3 billion, plus or minus $100 million. The company’s call was scheduled for 10:00 a.m. This case uses the release and filings available before the call; it does not use the call or any later information. Read case
Apollo Global Management: Scale the engine—or put gates on it?
Apollo had joined its alternative-asset-management platform with Athene, a retirement-services business, effective January 1, 2022. Read case
AppLovin — Scaling the Flip Relationship
On 2 April 2024, AppLovin and Flip announced that Flip would soon relaunch an advertising marketplace for merchants using AppLovin’s AXON technology. AppLovin had already agreed to invest $50 million in Flip’s Series C, expected to represent about 4.1% of Flip’s fully diluted ownership, and Flip had already entered a commercial agreement to use AXON. Read case
Ares Management: Scaling Private Credit in the Wealth Channel
In May 2024, Ares Management described a fast-growing wealth business and ambitious goals for its semi-liquid product platform. One of those products, Ares Strategic Income Fund (ASIF), offered individual investors access to private credit through a continuously offered, non-traded business development company. Read case
Arthur J. Gallagher & Co.: Integrating AssuredPartners
By September 2026, Arthur J. Gallagher & Co. (Gallagher) was still integrating AssuredPartners (AP), the large brokerage business it acquired in 2025. The company had also announced smaller acquisitions with different public descriptions of team location and leadership. Read case
AT&T — Fiber's Next Mile
AT&T ended 2023 with fiber passing more than 26 million consumer and business locations. Management said the company was on track to pass more than 30 million by the end of 2025. AT&T also offered Internet Air, a home broadband service delivered over its 5G network where available. Read case
Atmos Energy: How should the next wave of investment be paced?
On August 5, 2026, Atmos Energy reported its third-quarter results and reaffirmed its fiscal-year outlook. The company had a large multiyear investment plan underway. Read case
Autodesk: the last perpetual license?
On 23 March 2016, Autodesk filed its annual report for the fiscal year ended 31 January. Most new perpetual licenses for individual software products had stopped selling on 1 February. A second milestone was four months away: on 1 August, Autodesk planned to stop selling new perpetual licenses for its Design & Creation Suites and affected products. Read case
AutoZone: Where to Put the Next Mile of Growth?
AutoZone had grown through new stores, a commercial program serving professional repair customers, and a network of hubs and mega hubs intended to widen parts availability. International operations were also expanding. The company said it planned higher investment in fiscal 2024, including supply-chain projects and store openings. Read case
Avery Dennison: Investing for Intelligent Labels growth
By September 2024, Avery Dennison had made Intelligent Labels (IL) a central part of its growth story. RFID-enabled labels connect physical products to digital information and can help customers track goods through stores and supply chains. Avery brought materials science, label manufacturing, RFID inlays and tags, and digital solutions to the opportunity. Read case
BNY Mellon: Scaling an AI-enabled platform
By the end of July 2026, BNY Mellon had made a substantial shift toward a platform operating model and had begun deploying artificial-intelligence tools across the firm. Its leaders described AI as a strategic opportunity for client service and efficiency. The same disclosures emphasized implementation, model, cyber, third-party and governance risks. Read case
Best Buy — What Should the Next CEO Sequence?
Jason Bonfig was scheduled to become Best Buy’s CEO on November 1, succeeding Corie Barry. The company had recently described four priorities: develop as a retail, media, advertising and technology company; expand its reach; elevate the customer experience; and remain human-powered and customer-focused. Read case
Bio-Techne: Funding the next phase of CGT growth
Bio-Techne had invested in specialized reagents and manufacturing capabilities for cell and gene therapies (CGT), while reporting weak organic growth in its largest segment. It also had a company-wide capital plan and a large future contractual purchase commitment tied to Wilson Wolf. Read case
Biogen: Turning a Major Acquisition into Sustainable Growth
On May 14, 2026, Biogen completed its acquisition of Apellis Pharmaceuticals. The deal added two marketed medicines, SYFOVRE for geographic atrophy (GA) associated with age-related macular degeneration, and EMPAVELI for paroxysmal nocturnal hemoglobinuria (PNH), C3 glomerulopathy (C3G), and primary immune complex membranoproliferative glomerulonephritis (primary IC-MPGN). Read case
Block — Should Cash App Local Grow Beyond Its Test?
In the second quarter of 2024, Block began testing Cash App Local with a handful of Square sellers. A customer could order from Cash App and earn cash back after signing up through a seller QR code or at the point of sale. Block said it was starting small as it identified the most compelling offerings. Read case
Bristol Myers Squibb: sequencing the growth transition
Bristol Myers Squibb entered 2024 with a portfolio moving in different directions. Total 2023 revenue was $45.0 billion, down 2%. The company’s in-line products grew 3%, and its newer product portfolio grew 77% to $3.6 billion. At the same time, “recent loss-of-exclusivity” products declined 34% to $7.1 billion, including Revlimid, whose revenue fell 39%. Read case
Builders FirstSource: Buying Growth in a Housing Downturn
On 30 April 2026, Builders FirstSource (BLDR) released first-quarter results and disclosed that its board had announced a total authorization of up to $500 million for share repurchases, including approximately $200 million remaining from the April 2025 authorization. It did not require the company to buy any particular number of shares and could be changed or suspended. Read case
BXP: Which work comes next?
On August 6, 2026, BXP filed its second-quarter report. Occupancy had improved, leasing activity was strong relative to the company’s historical second-quarter average, and a large share of its commercial development and redevelopment pipeline was pre-leased. Read case
California BanCorp: where should the next loan come from?
On July 27, 2026, California BanCorp reported second-quarter net income of $14.3 million and $113.7 million of sequential loan growth. Nonperforming assets fell to 0.44% of total assets from 0.97% in the prior quarter. Management described growth as balanced and said it reflected new business relationships across the bank’s California footprint. Read case
Topgolf Callaway Brands: What Must Be True Before the Spin?
At 4:26 p.m. Eastern on September 4, Topgolf Callaway Brands Corp. told investors that its Board intended to pursue a separation of Topgolf. A spin-off of at least 80.1% of Topgolf to shareholders was the most likely route, but the Board was still evaluating alternatives and had not approved final terms. Read case
Calumet Inc.: How Far, How Fast on SAF?
On October 16, 2024, the U.S. Department of Energy's Loan Programs Office (DOE LPO) issued a conditional commitment for a loan guarantee of up to $1.44 billion to Montana Renewables, LLC (MRL), a Calumet subsidiary. Read case
Camden Property Trust: when should the next apartment start?
On November 1, 2024, Camden Property Trust's latest quarterly filing described a deliberate pause in four predevelopment projects. Camden had recognized a $41.0 million noncash impairment on three land parcels and said it would stop capitalizing interest and expenses associated with those sites. The filing does not map each impaired parcel to each paused project. Read case
Capitol Federal: How Fast Should the Portfolio Shift?
On October 1, William Skrobacz became President of Capitol Federal Financial and Capitol Federal Savings Bank. He had helped develop and execute the company’s commercial strategy; CEO John Dicus remained chair and CEO. The transition put day-to-day responsibility for commercial operations and strategy in a new role, while the public financial picture still ended June 30. P04 Read case
Capri Holdings: Where Should the Next Increment Go?
Capri Holdings had completed the sale of Versace to Prada in December 2025. In the latest reported quarter, the company had two operating segments: Michael Kors (MK) and Jimmy Choo (JC). Capri still provided some transition services to the former Versace business, so the legal sale had not ended every transaction-related activity. P02, Note 3 Read case
CapsoVision — The First AI Commercial Bet
On September 28, CapsoVision announced that the FDA had cleared AI Highlights for use with its CapsoCam Plus capsule endoscopy system. The clearance was granted three days earlier. Read case
Cardinal Health: Capital Priorities After the CVS LOI
On October 1, Cardinal Health announced a binding letter of intent to extend its pharmaceutical distribution agreement with CVS Health through June 30, 2032, on the current distribution-service scope. That same day, McKesson announced an agreement in principle to extend its own CVS distribution partnership through June 2032. Read case
Cardinal Infrastructure Group: integrate Allied or keep acquiring?
You advise Cardinal Infrastructure Group’s leadership on October 2, the day after Allied Paving closed. Cardinal has spent the past year expanding its site-civil platform and now has a newly amended acquisition facility. Read case
Caterpillar — Building Capacity for a Power-Hungry World
In its second quarter of 2026, Caterpillar reported a $72.1 billion order backlog that it believed was firm, up $9.4 billion from the prior quarter. The increase spanned its three primary segments, with the largest increase in Power & Energy. Read case
Cencora: When Should Nucleus Scale?
On June 17, 2026, Cencora announced a phased pilot of the next generation of Nucleus, its inventory-management solution for specialty physician practices. The planned pilot spans more than 20 sites. Cencora said it would assess system performance across practice settings and gather feedback. Read case
CenterPoint Energy: Sequencing Growth, Resilience, and Financial Flexibility
On October 1, CenterPoint Energy Resources Corp. (CERC), a subsidiary of CenterPoint Energy, completed the sale of its Ohio natural-gas local distribution business. Read case
C.H. Robinson: Where Should Automation Stop?
This constructed case uses C.H. Robinson’s December 12, 2024 Investor Day as its information boundary and places a hypothetical cross-functional team before a question common to large service networks: how much work should software handle without an employee, and where should experienced judgment remain central? Read case
Chevron and Hess: Is Guyana Worth the Uncertainty?
On February 26, 2024, Chevron and Hess filed their 2023 annual reports. Chevron’s filing described unresolved questions around Hess’s 30% interest in the Stabroek Block offshore Guyana, alongside the pending Federal Trade Commission review of the proposed merger. Read case
Chipotle — Which Restaurant Formats Should Scale?
At 4:00:10 p.m. Eastern on 4 February 2020, Chipotle Mexican Grill had a few minutes before its scheduled fourth-quarter and full-year results release. Its newly filed 2019 Form 10-K put digital orders at 18% of revenue. Read case
Church & Dwight — Can Hero Grow Beyond the Patch?
At the start of 2024, Church & Dwight was positioning Hero Cosmetics as a growth brand. Hero had become known for Mighty Patch acne patches, and CHD's February 2 earnings release said Hero would continue patch innovation while adding Dissolve Away Daily Cleansing Balm, a planned product for acne-prone skin. Read case
Cincinnati Financial — Growth at the Right Price
At the end of July 2026, Cincinnati Financial Corporation (CINF) had a business problem that could be described in two ways. Personal-lines renewal premiums were growing after substantial rate increases, and the segment had returned to underwriting profitability in the first half of 2026. Read case
Citizens Financial Group: Building a Private Bank Inside a Regional Bank
On March 9, 2026, Citizens Financial Group filed its proxy statement ahead of the annual meeting. Management described a “three-legged stool” strategy: a transformed Consumer Bank, a strong Commercial Bank, and an aspiration to build a premier Private Bank and Private Wealth franchise. Read case
Colgate-Palmolive: Turning capacity into Hill’s growth
On September 30, Colgate-Palmolive completed its purchase of three dry pet-food plants from Red Collar Pet Foods. The plants—in Orangeburg, South Carolina; Clinton, Oklahoma; and Washington Court House, Ohio—were expected to join Hill’s Pet Nutrition’s network and make products for Hill’s Science Diet and Prescription Diet. Read case
Comfort Systems USA — Governing Growth Without Losing the Local Edge
On July 1, Craig Sasser’s appointment as chief operating officer took effect at Comfort Systems USA. President Trent McKenna continued in his role, and Briston Blair became chief strategy and innovation officer. Read case
Consolidated Edison: What should CECONY put on the table?
Consolidated Edison Company of New York (CECONY) is negotiating a new rate plan for its Manhattan steam service. A hypothetical CECONY strategy director must advise the company’s negotiating team how to position its investment and revenue request before the proposed November 2026 rate year begins. Read case
Constellation Brands: Where Should the Next Investment Go?
Constellation Brands had built a fast-growing Beer business around Mexican brands including Modelo, Corona, and Pacifico, while continuing to operate Wine and Spirits brands such as Meiomi, Kim Crawford, Robert Mondavi, High West, and SVEDKA. Read case
The Cooper Companies — Sequencing Myopia Management
On March 1, 2024, a hypothetical strategy team is asked to advise CooperVision on its next phase of market development. The question is how to sequence work around MiSight 1 day, CooperVision’s myopia-management contact lens, alongside its broader contact-lens products. Read case
Corteva’s Seed Traits: How Broadly Should Vylor License?
On July 31, Corteva’s planned separation of its seed and crop-protection businesses was still two months away. The company said it remained on track to separate on October 1, with the seed business to operate as Vylor. The separation was intended to give each business strategic flexibility; its completion and later results were not yet known. Read case
CoStar Group: Can Homes.com Become a Marketplace?
CoStar Group closed 2025 with $3.247 billion in revenue, up 19% from 2024, but a $72 million operating loss and $7 million in net income. Its January 2026 outlook described Homes.com as a fast-growing part of its residential portfolio: subscribers had increased 337% since the first quarter of 2024. Read case
Crown Castle: Setting the Next Capital-Allocation Policy
In May 2026, Crown Castle completed the sale of its fiber solutions and small-cell businesses. The transaction marked a strategic reset: towers became the company’s sole operating segment. By June 30, the company also reported completing the previously announced $1 billion share repurchase and repaying more than $7 billion of debt. Read case
CSX Corporation — Intermodal Growth and Service
For this exercise, assume you are advising CSX’s intermodal commercial team at a hypothetical 2024 strategy review. Read case
Aetna and the 2025 Medicare Advantage bid
It is 1 April 2024. CMS has just released its final payment announcement for the 2025 Medicare Advantage (MA) year. Aetna is preparing its 2025 plans, and its leadership team must decide how to balance medical-cost pressure, member value and competitive position as it sets bids and benefits. Read case
DaVita — Where Should It Add Kidney-Care Capacity?
On 29 September 2020, CMS published the final rule for the End-Stage Renal Disease Treatment Choices (ETC) Model. The mandatory model would change payments for selected dialysis facilities and managing clinicians beginning in 2021. Read case
Strategy Case: Deckers — Where should the next consumer investment go?
Deckers Outdoor Corporation’s next planning cycle must decide how to direct incremental consumer-facing investment across HOKA and UGG. Should it expand owned DTC capacity for both brands, prioritize one brand while maintaining wholesale reach for the other, or put more support behind wholesale partners while using DTC selectively? Read case
Dell Technologies — Allocating Scarce Components
Assume a hypothetical Dell operating committee must set rules for next-quarter allocation of scarce memory and other constrained components. The rules will apply across AI servers, traditional servers and networking, and storage, and will govern how customer readiness, order commitment, credit exposure, and supplier commitments affect priority. Read case
Delta Air Lines — Sequencing Premium-Capacity Growth
On March 1, 2024, imagine you are preparing a commercial and network review for Delta Air Lines. Delta has reported faster growth in premium-product ticket revenue than in Main cabin and has announced a firm purchase of 20 Airbus A350-1000 aircraft, with deliveries scheduled to begin in 2026. Read case
Dollar General: Growth, traffic, and the returns question
On August 27, 2026, Dollar General reported second-quarter net sales of $11.29 billion, 5.2% above the year-earlier quarter. Same-store sales rose 3.5%. Customer traffic increased 2.0%, while average transaction amount rose 1.5%. Management attributed the higher transaction amount to higher average retail prices, partly offset by fewer items per transaction. Read case
Dover Corporation — Choosing the Next Moves Across a Diverse Portfolio
Imagine joining Dover’s corporate strategy team on March 1, 2024. For the next planning cycle, you are asked to recommend how the company should evaluate and sequence proposals across its five businesses. The assignment is to define the next steps and the evidence each step should require—not to divide a disclosed pool of money. Read case
Dow Inc.: Cost Discipline and the Path2Zero Commitment
On the morning of January 30, 2025, Dow announced a new $1 billion cost-savings program. The announcement came as the company reported lower full-year sales and operating earnings, weak fourth-quarter margins in its largest segment, and sharply lower operating cash flow than the prior year. Read case
Duke Energy — What Evidence Should Accompany a Resource Plan?
Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) filed a new Carolinas resource plan on October 1, 2025. Assume you are advising a hypothetical joint DEC/DEP strategy team preparing to present the filing to regulators and customers. Read case
DuPont: What Should the New Portfolio Fund First?
In early August 2026, DuPont de Nemours reported another quarter of growth in both of its remaining operating segments. The results arrived after two major changes to the company’s boundaries: DuPont had separated its electronics businesses into Qnity in November 2025 and sold its Aramids business in April 2026. Read case
Edwards Lifesciences — Where to Place the Next Structural Heart Investment?
On July 23, 2026, Edwards Lifesciences reported second-quarter sales of $1.741 billion, up 13.6% on a reported basis and 12.5% in constant currency. TAVR, the company’s largest platform, generated $1.26 billion, up 11.3% reported and 10.5% in constant currency. TMTT, its transcatheter mitral and tricuspid portfolio, generated $195.9 million. Read case
Electronic Arts: Where should it focus live-service attention?
Electronic Arts entered FY2025 with a strong reported booking trend in global football and a different signal from Apex Legends. In FY2024, global football franchise net bookings grew at a high-teens rate, while EA said Apex declines partly offset football strength. Read case
Eli Lilly: How Much Capacity, and When?
On December 5, 2024, Eli Lilly and Company announced a $3 billion expansion of a recently acquired manufacturing facility in Kenosha, Wisconsin. The planned scope included injectable manufacturing, device assembly and packaging across therapeutic areas; construction was expected to begin in 2025. Read case
EMCOR Group: What Does the Backlog Say?
EMCOR Group, Inc. (NYSE: EME) installs, renovates and maintains electrical and mechanical systems in commercial, industrial and institutional facilities. On July 30, 2026, the company reported record second-quarter revenue and operating income, alongside a record $17.1 billion of remaining performance obligations (RPO). Read case
Entergy Louisiana: Power for growth, or flexibility for the future?
In fall 2026, Entergy Louisiana, LLC (ELL) is seeking Louisiana Public Service Commission (LPSC) approval to build two large gas-fired power stations and recover eligible costs from customers. The plants would take years to complete. The utility argues that its system needs more dispatchable capacity as demand grows and older resources retire. Read case
EPAM Systems — Sequencing an Americas Commercial Transformation
Assume EPAM's hypothetical Americas leadership team must decide how to sequence its commercial transformation over the next two quarters. Management has described some North American clients shifting away from discrete engineering tasks and seeking broader AI-enabled modernization proposals; that explanation is not independently established by the filings. Read case
Equifax: What comes after the cloud?
Equifax had spent several years rebuilding its technology infrastructure. The company described the Equifax Cloud as a multi-year investment of more than $1.5 billion. Its aim was to move applications and data to a new architecture, then use that platform to improve reliability, bring products to market faster and make better use of its data and analytics. Read case
Equinix: Where should the next capacity dollar go?
Equinix has to serve two related but different markets. Its IBX data centers sell retail colocation and interconnection to a broad customer ecosystem. Its xScale facilities are designed for core deployments by a targeted group of hyperscale customers. A hyperscaler can use both, but the company’s disclosures do not show how much value one product creates for the other. Read case
Essex Property Trust: Reading the Coastline
On July 29, Essex Property Trust announced second-quarter results and raised its full-year 2026 guidance. Same-property revenue grew 2.7% year over year, and same-property net operating income (NOI) grew 2.6%. The company reported stronger same-property revenue growth in Northern California than in Southern California or Seattle Metro. Read case
Estée Lauder: Where to Place the Next Commercial Investment?
At 5:00 p.m. Eastern Time on February 2, 2023, The Estée Lauder Companies (EL) had just reported its fiscal second-quarter results. Sales had fallen sharply, and management had moved its expected return to growth in Asia travel retail and Mainland China from the third quarter to the fourth quarter. Read case
Everest: How much risk should Annapurna help carry?
Everest Group has recently launched Annapurna Re Ltd., a Bermuda casualty reinsurance sidecar sponsored with Stone Point. Read case
Evergy: How Much Capacity Should the Utility Build Ahead of Demand?
On September 16, Evergy Kansas Central, Inc. issued $350 million of 5.600% first-mortgage bonds due 2034. The filing was made jointly under Evergy, Inc.’s SEC reporting umbrella, but Kansas Central—not the holding company—was the bond issuer and secured obligor. Read case
Everpure: Funding the Next Growth Vectors
On September 23, Everpure set out a broader growth plan for the years ahead. Management described four vectors: Core and Core AI; Modern Data Software; Scale AI; and Hyperscale Solutions. The company said the newer vectors were expected to contribute about 20% of revenue by fiscal 2030 and offered a preliminary fiscal 2028 outlook. Read case
EVERTEC: Pacing Repurchases After Sinqia
On March 7, 2024, EVERTEC had $150 million of repurchase authorization remaining after agreeing the previous day to a $70 million ASR. The authorization allowed repurchases through December 31, 2025, subject to business opportunities and other factors. It did not require the company to repurchase the full amount, nor did it establish that $150 million was set aside as cash. Read case
EVgo: Pacing the Fast-Charging Buildout
On 12 November 2024, EVgo reported third-quarter results and filed its quarterly report. Its latest operating measures showed a network growing quickly: Q3 revenue was $67.5 million, network throughput was 78 gigawatt-hours, and the company added more than 270 operational stalls. Read case
EVI Industries: Planning GNA’s Systems Transition
On 6 March 2025, EVI Industries had publicly filed an agreement to acquire Girbau North America, Inc. (“GNA”), a commercial-laundry equipment distributor. The stock purchase agreement had been signed on 28 February, but the transaction had not closed. EVI’s filing said closing was expected within 30 days, subject to conditions. Read case
Evolent Health: Choosing How to Share Medical-Cost Risk
On November 7, 2024, Evolent Health reported third-quarter results. Revenue was $621.4 million, and Adjusted EBITDA was $31.8 million, down from $48.7 million a year earlier. The company also reported a GAAP net loss attributable to common shareholders of $31.2 million. (, release pp. 1–2, lines 16–29, 77–101.) Read case
Evolus, Inc.: How much launch learning is enough?
On November 6, 2024, Evolus reported third-quarter results and described an expanding product portfolio. The company had begun an early-experience program in Europe for its newly approved hyaluronic-acid (HA) gels, while its U.S. applications for two of those products remained under FDA review. Read case
Excelerate Energy: Payout While Building
On August 5, Excelerate Energy raised its full-year 2026 outlook for committed growth capital to $380–400 million. It separately forecast $85–95 million of maintenance capital expenditure. Read case
Fastenal: Where should the next increment of capacity go?
Fastenal began as a fastener distributor and grew into a North American and international industrial-supply network. At year-end 2025, the company reported 1,595 branches in 25 countries, 15 North American distribution centers, additional centers in Asia and Europe, and 24,489 employees. Read case
Fifth Third Bancorp: When should the next Texas branches open?
On September 15, Fifth Third Bancorp said it planned to open 150 branches in Texas by 2029 and had identified more than 100 potential locations. Management described the initiative as applying a Southeast growth playbook to Comerica's established Texas franchise. The company characterized the initial marketing response as strong. Read case
First Solar, Inc. — Sequencing the Next Expansion
On March 1, 2024, a hypothetical First Solar strategy team is preparing a recommendation on what should follow the company’s current manufacturing buildout. The company has reported an approximately 8 GW expansion in progress, a dedicated U.S. research and development facility under construction, a large contracted backlog, and higher planned production for 2024. Read case
Fiserv: Where should Clover grow next?
Fiserv has reported rapid growth in Clover, its cloud-based point-of-sale and integrated-commerce platform for small and midsize businesses. Read case
Fortive: Has the Spin-Off Made the Portfolio More Focused?
Fortive Corporation develops and sells industrial instrumentation, software and services, as well as healthcare workflow products. On June 28, 2025, it separated its Precision Technologies businesses into Ralliant Corporation and distributed Ralliant shares to Fortive shareholders. Read case
Freeport-McMoRan — How Much Growth Should the Cash Fund?
On 16 February 2024, Freeport-McMoRan Inc. (FCX) filed its 2023 Form 10-K. The filing described a 2024 capital plan of approximately $4.6 billion. It included $2.3 billion for major mining projects and $1.0 billion for Indonesia smelter projects. Read case
Generac: how fast to build for large-MW demand?
Generac Holdings had entered a new scale of power generation. Its large-megawatt (large-MW) diesel generators, packaging capabilities and service offer were aimed at data centers and other critical-infrastructure customers. In July, the company reported a $1.6 billion data-center product backlog. Read case
General Dynamics: Backlog Is Not Delivery
On July 29, General Dynamics reported second-quarter revenue of $14.1 billion, up 8.1% year over year, and diluted earnings per share of $4.24, up 13.4%. Operating margin expanded 40 basis points to 10.4%. The company also reported a record $136.5 billion backlog and a 1.4-to-1 company-wide book-to-bill ratio. Read case
General Mills: Choosing the Next Growth Moves
On September 30, General Mills announced that Chief Operating Officer Dana McNabb would become CEO on January 1, 2027. Her public statement emphasized returning the company to profitable growth through digitally enabled demand generation and supply-chain modernization. The announcement did not describe a first-year budget or a North America Retail (NAR) resource plan. Read case
Globe Life: How fast should AIL grow?
Globe Life had just reported another quarter of growth at American Income Life (AIL), its largest life-insurance distribution channel. On April 11, Globe Life issued a response to public allegations about AIL sales practices, calling them misleading and unsubstantiated and saying it intended to provide a fuller rebuttal. Read case
Goldman Sachs — Scaling Alternatives with Discipline
On 3 August 2026, Goldman Sachs filed its second-quarter Form 10-Q. Its public ambition for alternatives remained substantial: management expected sustainable annual gross fundraising of $75–100 billion and had set a target of $750 billion in fee-paying alternative assets under supervision (AUS) by the end of 2030. Read case
Halliburton: Choosing where to scale next
Halliburton serves oil and gas producers across the life of a reservoir, from subsurface analysis and drilling through completion, intervention, and production. The company operates in more than 70 countries with over 46,000 employees. Its reported businesses span two segments: Completion and Production (C&P), and Drilling and Evaluation (D&E). Read case
HCA Healthcare: where should the next dollar of growth go?
By the close of November 10, HCA’s November 9 Investor Day materials and replay were public. The presentations described a company expanding both hospitals and outpatient access points. They also pointed to a large pool of emergency visits outside HCA’s network and to long-term earnings-growth targets. Read case
Healthpeak Properties: How fast should Janus Living grow?
Healthpeak Properties created Janus Living as a publicly traded, RIDEA-structured senior-housing REIT. Janus completed its IPO in March 2026. Healthpeak retained 73.6% of Janus’s equity at June 30 and manages the company through an indirect subsidiary; public investors held the remaining 26.4%. Read case
Henry Schein after the cyber disruption
On February 29, 2024, Henry Schein’s leadership had a company with its distribution systems restored, customers still expecting dependable deliveries, and a growth plan that depended on technology and value-added services. The October 2023 cyber incident had interrupted important operations and affected earnings. Read case
Hilton — Scaling Undergraduate by Hilton
On June 1, 2026, Hilton launched Undergraduate by Hilton, an upper-midscale brand intended to expand its presence in college and university markets. Hilton described it as a complement to Graduate by Hilton, with a flexible model for new builds and conversions. It said the concept could have long-term potential for 400–500 hotels and anticipated the first opening in 2027. Read case
Hologic: Integrating Sonata into GYN Surgical
Hologic’s acquisition of Gynesonics added Sonata to a portfolio that already included several products used in gynecologic surgery. The acquisition had closed earlier that year. A hypothetical assignment asks you, as a member of GYN Surgical leadership, to recommend how Hologic should organize Sonata’s commercial and clinical-support work over the next 12 months. Read case
Honeywell at a portfolio crossroads: Should Aerospace stand alone?
At 6:00 a.m. Eastern on December 16, Honeywell said its board was continuing a comprehensive portfolio evaluation and exploring additional alternatives, “including the potential separation” of Aerospace. Feasibility and possible timing remained under evaluation, with an update expected alongside fourth-quarter results. Read case
Hormel Foods: Where to Place the Next Growth Bets?
Hormel Foods is preparing for fiscal 2027. One part of its business has reported consecutive quarters of organic sales growth, while its largest segment faces a steep decline in volume and uneven results across categories. At the same time, the company is simplifying parts of its portfolio and has an announced leadership transition ahead. Read case
Host Hotels & Resorts: What Should the Next Dollar Do?
By the close of November 2, Host Hotels & Resorts (HST) had reported third-quarter results and announced a substantial reinvestment program with Hyatt. The company was still navigating uneven hotel demand, margin pressure, insurance proceeds, hurricane and wildfire disruption, and a sizable capital plan with some spending already planned. Read case
Howmet Aerospace: How fast should capacity commitments move?
Howmet Aerospace entered autumn 2026 with strong demand signals in commercial aerospace and gas turbines. In the first half, reported commercial-aerospace revenue was $2.574 billion, up from $2.076 billion a year earlier; gas-turbine revenue was $605 million, compared with $437 million. Read case
Humana and the 2025 Medicare Advantage bid
Humana had weeks to finalize its 2025 Medicare Advantage (MA) bids. The national payment announcement showed an average increase, yet Humana’s leaders warned that benefits and plan choice could still come under pressure. The strategic question was which plans and benefits to protect, redesign, or leave as the company balanced affordability, member growth, and margin recovery. Read case
IDEX: Can a Portfolio of Niches Compound Through an AI Cycle?
On July 29, 2026, IDEX Corporation reported record quarterly orders and raised its full-year outlook. The industrial manufacturer’s Health & Science Technologies segment (HST) was growing quickly, with management citing demand tied to data-center power, semiconductors, and space and defense. Read case
IDEXX inVue Dx — How Fast Should the Rollout Grow?
At 6:30 a.m. Eastern on October 31, 2024, IDEXX Laboratories reported nearly 700 pre-orders for its new inVue Dx cellular analyzer and said shipments were expected to begin later in the fourth quarter. An earnings call was scheduled for 8:30 a.m. . Read case
Illinois Tool Works: Scaling Customer-Back Innovation
Illinois Tool Works (ITW) has spent years using its 80/20 Front-to-Back approach to simplify product lines and focus on important customers and products. The company’s current Enterprise Strategy places greater emphasis on organic growth and Customer-Back Innovation (CBI): identifying customers’ important problems and developing solutions starting from those needs. Read case
Incyte — Where Should the Next R&D Dollar Go?
Incyte had grown from a company built around hematology into a biopharmaceutical portfolio spanning hematology, oncology and dermatology. Its February 2024 year-end results showed $3.696 billion in product and royalty revenue for 2023, up 14%. Of this, $3.165 billion was net product revenue, up 15%. Read case
Insulet Corporation — Sequencing Omnipod 5’s Next Releases
Insulet’s Omnipod 5 is a tubeless automated insulin delivery (AID) system that works with compatible continuous glucose monitors (CGMs). Users can select among compatible sensors; availability depends on regulatory clearance, launch timing and local access. Insulet describes its system as combining a pod, controller or compatible smartphone, and CGM. Read case
Invesco — Building an Active ETF Business
In May 2026, Invesco CEO Andrew Schlossberg described a launch-led approach to active ETFs: build through new products, “not through conversions, probably not through share class extensions.” The statement set a direction, but did not name candidate products, a launch pipeline, funding levels, or review gates. Read case
Invitation Homes — Choosing the Next Sourcing Channel
Invitation Homes had grown by acquiring and operating single-family rental homes across major U.S. markets. Its disclosed sourcing included purchases of existing homes and partnerships with third-party homebuilders. Read case
Strategy Case: IQVIA — Connecting Data and Clinical Research
Suppose IQVIA’s corporate strategy team is asked to advise its executive leadership on the next planning cycle. Should the company keep decision-making and accountability mainly within its three business segments, coordinate selected customer opportunities across them, or prioritize a broader integrated platform model? Read case
Iron Mountain: How much data-center capacity should it commit next?
Iron Mountain Incorporated (IRM) built its business around storing and managing physical and digital information. Its global data-center business had become an increasingly visible growth platform. Read case
Jacobs Solutions: One Portfolio or Two?
On May 8, 2023, Jacobs Solutions had a strategy already in motion. Its “Boldly Moving Forward” plan called for growth across Critical Mission Solutions (CMS), People & Places Solutions (P&PS), and PA Consulting. Read case
J.B. Hunt: Where Should the Next Intermodal Mile Go?
J.B. Hunt Transport Services, Inc. (J.B. Hunt) enters its FY2027 planning cycle with a strong second quarter in Intermodal (JBI), especially in its Eastern network. Read case
Jefferies and SMBC: Turning an Expanded Alliance into a Portfolio of Choices
On September 19, 2025, Jefferies Financial Group Inc. and Sumitomo Mitsui Banking Corporation (SMBC) announced a broad expansion of their relationship. Read case
Jersey Mike’s Subs: Where Should the Next Growth Wave Go?
You are part of a hypothetical strategy team asked to recommend how Jersey Mike’s should sequence growth over the next three to five years. Should it put most development effort into U.S. penetration, build international markets in stages, or set market-readiness gates that determine where capacity goes next? Read case
John B. Sanfilippo & Son: Where should the next equipment dollar go?
John B. Sanfilippo & Son, Inc. (JBSS) had just reported its fiscal 2026 results. Management had described a multiyear equipment and infrastructure program, while the company’s plants showed different combinations of seasonal bottlenecks and unused capacity. Read case
Johnson & Johnson: Governing a Supply-Network Transition
On September 1, 2026, Tom Cavanaugh became Johnson & Johnson’s executive vice president and worldwide chairman of Innovative Medicine, succeeding Jennifer Taubert. His appointment came after J&J disclosed a new supply-chain restructuring in its second-quarter results. Read case
Johnson Controls: Governing the Next Stage of AI Building Controls
Johnson Controls International plc (JCI) had made two public moves in 2026: it acquired Nantum AI, then launched new AI capabilities in OpenBlue, its digital building ecosystem. Energy & Comfort Intelligence (ECI), powered by Nantum, was intended to optimize air circulation across air-handling units, fans and related systems. Read case
JLL — Capital Allocation Under Accelerate 2030
Jones Lang LaSalle Incorporated (JLL) had $2.592 billion of share-repurchase authorization remaining at 30 June 2026. In March, the company announced that its board had authorized an additional $2.2 billion in February, bringing total authority to roughly $3 billion. JLL also announced a planned $200 million accelerated share repurchase, completed by the second quarter. Read case
Kenvue — Where to Place the Next Growth Dollar?
Kenvue had recently become an independent consumer-health company with three segments: Self Care, Skin Health & Beauty, and Essential Health. Its third-quarter 2023 results showed a strategic tension. Organic sales grew 3.6%, but reported volume declined 3.5%; 7.1% value realization offset that decline. Read case
Kimberly-Clark: Choosing how to compete in North American tissue
Kimberly-Clark Corporation (K-C) entered 2024 with a familiar consumer-products challenge: how to defend branded value when shoppers can choose a lower-priced retailer brand. In its 2023 Form 10-K, the company identified increasing private-label share in tissue as a competitive risk. It did not disclose the size, timing, geography, subcategory, or retailer mix of that increase. Read case
Kinder Morgan’s Conditional Capital: When Should Approval Become Commitment?
At 4:29 p.m. Eastern on July 22, Kinder Morgan, Inc. (KMI) had just released second-quarter results. Its 4:30 p.m. earnings webcast had not yet begun. The release reported that the board had given contingent approval to nearly $400 million of projects, which were not yet included in the company’s committed project backlog. Read case
KKR: When scale becomes the story
On August 5, KKR & Co. filed its second-quarter Form 10-Q. The results gave investors two stories to reconcile. The firm reported nearly $800 billion in assets under management (AUM), record fee-related earnings (FRE), and strong growth across several company-defined earnings measures. Read case
L3Harris Technologies: A Missile Business at the Market Gate
In July 2026, L3Harris CEO Christopher Kubasik said the company would revisit the potential initial public offering of its missile business in mid-2027. He did not say that an offering would launch then. He said management believed market conditions did not reflect the value it was building. Read case
Labcorp — How to Screen the Next Laboratory Partnerships?
Imagine joining Labcorp’s strategy group on March 1, 2024. The company has publicly emphasized becoming a partner of choice for health systems and local and regional laboratories. How should the group screen and sequence additional opportunities? Read case
Lam Research: funding the next process inflection
Lam Research has spent decades building expertise in deposition, etch, clean and related wafer-fabrication processes. On October 23, 2024, the company reported a second consecutive quarter of revenue growth and told investors it expected wafer-fabrication-equipment spending to rise in calendar 2025. Read case
Las Vegas Sands: How should it pace two resort investment programs?
Las Vegas Sands (LVS) had a near-term planning milestone in Singapore and a longer-dated investment plan in Macao. The company had just reported a strong first quarter, but its proposed Marina Bay Sands (MBS) expansion had no final disclosed cost or project-level return forecast. Read case
Lennox International — Confidence in the 2030 Targets
You are an outside strategy adviser preparing a confidence assessment for an investment committee. Lennox International has set 2030 targets of $6.5–$7.5 billion in revenue, a 22–23% segment-profit margin, and free-cash-flow conversion above 90% of net income. Read case
Live Nation: How Much Capacity, How Much Proof?
Live Nation enters its FY2027 planning cycle with strong reported ticketing activity, a large venue pipeline, and continuing uncertainty about project-level returns and the legal terms under which venues and ticketing may operate. A hypothetical strategy team must recommend how quickly to commit to venue expansion. Read case
lululemon — Who Owns the Product?
In May 2024, lululemon announced a new structure for its product and brand teams. It would not replace its Chief Product Officer role. Design, Innovation, and Product Development would sit with the Global Creative Director, reporting to CEO Calvin McDonald. Read case
M&T Bank: Who should own the New England growth agenda?
M&T Bank Corporation entered the second half of 2026 with two priorities on its agenda. Its July investor presentation called for “Operational Excellence”: scalable infrastructure, consistent client experiences, efficiency, and maintained quality and risk standards. Read case
Marriott Bonvoy: Where Should the Next Loyalty Dollar Go?
Marriott International had built a global lodging system around brands, hotel owners and franchisees, and a large loyalty program. As the company entered its next planning cycle, one strategic question remained difficult: where would the next increment of Bonvoy investment create the most value? Read case
Martin Marietta Materials — Price, Tons, and the Next Growth Market
Imagine that you advise Martin Marietta Materials as it plans its next phase of growth. The company has just reported a quarter in which aggregates shipments declined while realized pricing and gross profit rose. It has also said that the proceeds from a recently completed cement-plant sale give it flexibility to pursue pure-play aggregates acquisitions. Read case
Masco Corporation: Where Should Enterprise Commercial Capability Go?
Masco has created an enterprise Chief Marketing Officer role spanning marketing, commercial excellence, digital acceleration, and customer capabilities. Read case
Mastercard: Choosing Where to Extend the Network
On March 1, 2024, Mastercard’s strategy team is preparing for its next planning cycle. The network is growing, services revenue is growing faster than the core payment-network line, and policy proposals could change routing or issuer economics. Read case
Where Should McCormick Place Its Next Growth Bets?
At 4:37 p.m. Eastern Time on January 23, 2025, McCormick & Company filed its fiscal 2024 Form 10-K. The company had reported its year-end results earlier that day and had issued its outlook for 2025. Read case
Merck & Co. — Replacing Growth Before the Keytruda Transition
You are an outside strategy adviser preparing a confidence assessment for an investment committee. Merck says its “One Pipeline” strategy combines internally generated research with external science obtained through licenses, collaborations, venture activity and acquisitions. Read case
MetLife: Reaching the Sponsor, the Adviser, and the Employee
MetLife’s New Frontier strategy names Group Benefits as a growth priority. In its 2025 Form 10-K, the company said employers have been emphasizing voluntary products and that it had increased communication and marketing to employees to foster sales. Read case
Microchip Technology: Capacity Choices Through a Downturn
On March 1, 2024, Microchip Technology’s operating and strategy leaders are reviewing how to plan capacity as customers work through excess inventory. Management says most factory expansion activity remains paused, while the company continues selective equipment and facility investment. Read case
Microsoft: Where Should the Next AI Capacity Go?
On April 25, 2024, Microsoft reported another quarter of strong cloud growth while describing a constraint that complicated its next infrastructure decisions. Azure and other cloud services grew 31% year over year. Management attributed seven percentage points of that growth to AI services and described the other 24 points as core Azure. Read case
Molson Coors: Can a broader portfolio restore growth?
You are an outside investor preparing a short strategy assessment of Molson Coors Beverage Company. The company has presented Horizon 2030 as a plan to build growth through accountability, capability and discipline. Your assignment is to assess how much confidence the public evidence supports in that strategy’s ability to restore durable growth. Read case
Mondelēz International: Pricing Chocolate Through a Cocoa-Cost Shock
Imagine Mondelēz International’s commercial leadership is preparing its next developed-market chocolate pricing cycle. Cocoa costs have become a source of pressure, while recent reported results show pricing growth alongside weaker volume/mix. The team must choose how to balance shelf prices, pack options, promotions and productivity. Read case
Monolithic Power Systems: The Next Power Roadmap
Monolithic Power Systems (MPS) designs semiconductor-based power electronics. It is a fabless company: outside suppliers manufacture, assemble, and test its products, while MPS focuses on design, engineering, system knowledge, integration, and packaging. Its leadership has described a continuing shift from a chip-only supplier toward a full-solution provider. Read case
Monster Beverage: Where should Bang fit?
On February 28, 2024, Monster Beverage reported its 2023 results. The company had acquired substantially all of Bang Energy’s assets seven months earlier. The acquisition added a recognizable energy-drink brand and a Phoenix production facility to a company whose energy-drink portfolio already included Monster and Reign. Read case
Moody’s Corporation: Where Should AI’s Customer Interface Live?
Moody’s combines a credit-ratings business with Moody’s Analytics (MA), which sells data, research, software and financial workflows. MA was investing in generative AI across its own applications and customer systems, while also making Moody’s information and analytical tools available through technology partners. Read case
Motorola Solutions — Where to Place the Next Technology Dollar?
Motorola Solutions (MSI) entered 2024 with a broad public-safety technology portfolio: land mobile radio (LMR), Video, and Command Center. On February 8, 2024, management described accelerating cloud adoption in Video, announced cloud and manufacturing partnerships, and forecast growth across all three technology areas. Read case
NetApp: Is an AI-Ready Data Platform Producing Durable Growth?
On September 2, NetApp reported revenue of $2.025 billion for the first quarter of fiscal 2027, up 30% from the year-earlier quarter. Product revenue rose 51%, all-flash revenue increased 47%, and Public Cloud revenue rose 28%. The company also raised its full-year outlook. Read case
Netflix: Building Both Sides of the Ad-Supported Plan
At 1:05 p.m. Pacific Time on January 23, 2024, Netflix's Q4 shareholder letter had been available for only a few minutes. It showed that the company's advertising-supported plan was gaining members quickly. Read case
Newmont: When Is Red Chris Ready?
You are advising Newmont Corporation's executive team as it prepares its hypothetical FY2027 operating and project plan. The company has said it expects a full-funds investment decision (FID) for the Red Chris Block Cave project in the second half of 2026. Read case
News Corp: Streaming Growth, Sports Rights, and a New Hub
In November 2024, News Corporation was reporting growth in its Australian streaming services even as its residential broadcast base continued to decline. Kayo and BINGE were adding subscribers and revenue. At the same time, the company reported higher sports-rights and production costs, and Hubbl—a recently launched content aggregation product—was adding expense. Read case
Nike: Balancing Direct and Wholesale
On March 1, 2024, Nike’s marketplace leadership is reviewing how to support consumers through NIKE Direct and wholesale partners. Fiscal 2023 results showed growth in both channels. In the second quarter of fiscal 2024, NIKE Direct grew while external wholesale revenue declined. Read case
Nordson Corporation: How Much Integration Should ARAG Have?
Nordson had completed a major acquisition nine months earlier. ARAG, an Italian supplier of precision controls and smart fluid components for agricultural spraying, now sat within Nordson’s Industrial Precision Solutions (IPS) segment. The acquisition added a distinct product portfolio and agricultural customer base. Read case
Northrop Grumman: Can a faster B-21 ramp improve the economics?
On October 3, 2026, an investor reviewing Northrop Grumman’s latest public disclosures faces an unusual combination: a strategically important aircraft program, a production-capacity expansion, a large remaining loss accrual, and limited public visibility into the economics of future lots. Read case
Norwegian Cruise Line Holdings: Should Four Ships Move from MOA to Contract?
Norwegian Cruise Line Holdings (NCLH) was working to reduce leverage while pursuing fleet growth. At the cutoff, four proposed Norwegian Cruise Line ships for delivery in 2030, 2032, 2034, and 2036 remained memoranda of agreement (MOAs), subject to Board approval, with financing under negotiation. Read case
Nucor — Growth Capital Through a Steel-Cycle Turn
Imagine you are advising Nucor as it plans its next investment cycle. The company has large steelmaking and downstream projects underway. At the same time, third-quarter results show lower realized selling prices, narrower steel-mill metal margins, and weaker shipments in parts of the portfolio. Management’s estimate for 2024 capital expenditures is about $3.2 billion. Read case
O’Reilly Automotive: Where should the next stores go?
On April 24, 2024, O’Reilly Automotive reported first-quarter comparable-store sales growth of 3.4%, following 10.8% in the year-earlier quarter. The company reaffirmed its plan to open 190–200 net new stores during 2024. Read case
Omnicom and Interpublic — Capturing Scale Without Losing the Client
On 9 December 2024, Omnicom Group and The Interpublic Group of Companies (IPG) announced a definitive agreement to combine. Eligible IPG shareholders would receive 0.344 Omnicom shares for each IPG share. Read case
On Holding: Where should the next growth franc go?
At 12:30 p.m. in Zurich on 12 March 2024, a hypothetical member of On Holding AG's leadership team is preparing for the company's scheduled U.S. results call. On's 2023 annual report and full-year results release are public. Read case
onsemi: How fast to scale silicon-carbide capacity?
By 6 February 2024, ON Semiconductor Corporation (onsemi) had published its 2023 results and annual report. The company had reported a fourfold year-over-year increase in silicon-carbide (SiC) revenue, record automotive revenue, and more than $1.5 billion of capital expenditures in 2023. Read case
Once Upon a Farm: Where Should the Next Growth Dollar Go?
Once Upon a Farm PBC had just reported second-quarter 2026 net sales of $85.4 million, up 42.3% from a year earlier. Gross margin, however, had declined to 35.9% from 40.7%. Adjusted EBITDA was a loss of $1.7 million, while the company reported a $5.0 million GAAP net loss. Read case
Ondas Inc.: Integrate, Scale, or Add Another Capability?
At 8:26 a.m. Eastern on August 13, 2026, the SEC accepted Ondas Inc.’s second-quarter results filing. The company’s release scheduled its earnings call for 8:30 a.m. The public filing reported rapid growth, a larger order book, acquisitions completed after quarter-end, and a much larger operating platform. Read case
ONE Gas: timing a capital plan under different rules
ONE Gas plans to invest about $4.3 billion from 2026 through 2030 in its natural-gas distribution systems. About $2.5 billion is assigned to system integrity and replacement, and about $1.2 billion to growth. The remaining amount covers other categories and costs described in the company’s plan. Read case
OneMain Holdings: Growth, Credit Risk, and Capital Returns
At the end of August 2026, OneMain had several reasons to continue growing its consumer-credit portfolio—and reasons to protect its ability to absorb losses and fund that growth. In the second quarter, originations increased 10% year over year. Management’s non-GAAP capital-generation measure rose to $229 million from $222 million. Read case
OneSpan: Where should the next product and go-to-market effort go?
At 4:05 p.m. Eastern on August 4, OneSpan had just released second-quarter results. A conference call was scheduled for 4:30 p.m. The release showed a business growing at different speeds: Cybersecurity revenue fell 7% from the prior-year quarter, while Digital Agreements revenue rose 25%. Total revenue increased 1%. Read case
OneSpaWorld: Where to Put the Next Operating Push?
On July 29, 2026, OneSpaWorld Holdings Limited reported a record second quarter. Revenue rose 9% year over year to $261.2 million, and Adjusted EBITDA rose 13% to $34.4 million. The company had operated wellness centers on 208 cruise ships by quarter-end. Read case
Onity Group: Which servicing growth engine?
Onity Group entered the second half of 2026 with two visible sources of mortgage-servicing growth. Originations and selective mortgage-servicing-rights (MSR) purchases can support owned-book growth, while subservicing contracts add loans to a portfolio another institution owns. Read case
Otis Worldwide: Where Should the Next Increment of Capacity Go?
At a midyear strategy review, Otis Worldwide's leadership team must decide where to place its next increment of commercial and operating capacity. Should it support modernization growth, protect and expand the maintenance portfolio, or stage capacity across both? Read case
Palantir: Where Should the Next Deployment Team Go?
Palantir Technologies has two large, fast-growing customer markets. U.S. commercial revenue is accelerating amid customer interest in its Artificial Intelligence Platform (AIP), while government programs continue to account for slightly more than half of company revenue. Read case
Palo Alto Networks: Sequencing Platform Adoption
On March 1, 2024, Palo Alto Networks (PANW) has recently announced an accelerated platformization and consolidation strategy. The company has described three platforms—Network Security, Cloud Security and Security Operations—and says customers can consolidate products across them. Read case
PayPal: giving the new businesses room to move
On April 29, PayPal announced three businesses intended to sharpen accountability and speed execution. By the morning after its second-quarter results, the structure was public, but the operating rules were not. Read case
Pentair: Growth after the Pool reset
On October 1, 2026, Pentair completed its acquisition of Taco Group Holdings for approximately $1.4 billion, subject to customary adjustments. The deal expands Pentair’s Water Solutions segment with a business focused on hydronic and water-based HVAC products, including pumps, tanks, heat exchangers and controls. Read case
Phillips 66: Governing the Refining Project Portfolio
On March 1, 2024, Phillips 66’s Refining leadership team is preparing to review execution within its 2024 project program. The company says it is implementing 10–15 projects annually to improve reliability and market capture and has a target to increase market capture by 5% by 2025. Read case
Pool Corporation: Where should the next unit of network investment go?
Pool Corporation (POOL) had built a large distribution network serving an industry with two different rhythms. Pool professionals needed dependable access to parts and technical support throughout the year. New pool construction and discretionary remodeling, by contrast, could move with consumer confidence, financing costs and local conditions. Read case
PPG Industries: What should the coatings business become?
In February 2024, PPG Industries announced a strategic review of its U.S. and Canada architectural coatings business. Eight months later, the company had reported third-quarter results, but its public disclosures still did not provide the business's standalone profit, cash flow, capital requirements, or separation economics. Read case
PPL: Growth Under the Regulated-Utility Compact
PPL Corporation expected annual earnings-per-share growth of 6%–8% through at least 2029. Its plan rested on regulated investment in three U.S. territories, while new data centers and other large energy users could create additional opportunities. Read case
Progressive: Making the next mile count
On November 4, 2024, Progressive filed its quarterly report for the period ended September 30. The numbers described a company again growing quickly after a deliberate effort to restore underwriting profitability. Personal-auto applications had surged, marketing had expanded, and the companywide combined ratio was below its stated ceiling for growth. Read case
Prologis: integrating SEGRO without losing the local edge
On September 28, SEGRO shareholders approved the resolutions required for its proposed combination with Prologis. The transaction had not closed: High Court sanction, regulatory clearances and other conditions remained. The companies expected completion in the first half of 2027. Read case
Prudential Financial: what should the next longevity-risk opportunity have to prove?
In the fourth quarter of 2023, Prudential Financial reported $14.3 billion in Institutional Retirement sales, including a $9.2 billion Netherlands longevity-risk-transfer transaction. On December 19, NN Group announced that it had completed two longevity transactions, one with a Prudential insurance subsidiary; the risk transfer was effective December 31, 2023. Read case
PTC: Where to Place the Next Dollar of Growth?
At 4:59 p.m. on May 1, 2024, PTC's executive team had a new target to work with. The industrial software company had just reported 12% constant-currency growth in annual run rate (ARR) for its second fiscal quarter. It had also lowered its mid-term ARR growth target from the mid-teens to the low double digits. Its free-cash-flow targets for the next two years remained intact. Read case
Qnity: Is the AI materials thesis structural or cyclical?
DuPont completed the separation of its Electronics business on November 1, 2025. Qnity began trading on the New York Stock Exchange two days later, on November 3. Read case
Ralph Lauren: Where Should the Next Growth Dollar Go?
Ralph Lauren Corporation entered the second year of its “Next Great Chapter: Drive” plan with a striking set of results. In the first quarter of fiscal 2027, revenue rose 14.0% as reported and 13.4% in constant currency. Comparable sales grew 12% worldwide. Asia was the fastest-growing region: revenue increased 25.3% in constant currency and retail comparable sales rose 23%. Read case
Raymond James Financial — How Should Advisor Growth Be Governed?
Raymond James Financial entered calendar 2024 with record client assets and what management described as robust advisor recruiting. For the quarter ended December 31, 2023, domestic Private Client Group (PCG) net new assets were $21.6 billion, equal to 7.8% annualized growth from the period’s beginning assets. The company offered several advisor affiliation and service models. Read case
Regeneron: where should the next commercial push go?
On August 3, 2026, Biocon announced that Yesafili, a biosimilar to Regeneron’s EYLEA 2 mg, was commercially available in the United States. The launch followed several years of patent litigation and other biosimilar approvals. Regeneron had already reported that Amgen’s Pavblu had launched and expected additional 2 mg competitors. Read case
Regions Financial — How Should It Govern Its Branch Investment Plan?
Imagine you are advising Regions Financial Corporation’s chief executive and board strategy committee on August 7, 2026. The company has announced priorities to build or open 135–150 locations and renovate more than 1,000 branches. Read case
Republic Services: can route density carry the circular economy?
Republic Services had reported steady revenue growth in 2025 and the first half of 2026. The result looked different depending on which driver an investor emphasized: customer price and average yield continued to add revenue, acquisitions contributed to growth, but reported volume was negative in both 2026 quarters. Read case
ResMed — Where Should the Next Capacity Go?
At the close of business on 26 October 2023, ResMed had just released results for the first quarter of fiscal 2024. Its sleep and respiratory devices and masks remained central to the business. It also operated several software businesses and digital-health tools whose relationships to those products varied considerably. Read case
Revvity: Where to Place the Next Three Years of Bets
In October 2026, Revvity’s hypothetical executive committee is setting priorities for the next three years. A definitive agreement to divest substantially all assets related to China Immunodiagnostics (China IDX) has been signed, but the transaction has not closed. Read case
Robinhood Markets — Paying for the Long-Term Customer
Robinhood Markets had built a large mobile brokerage by making investing easy to start and inexpensive to use. By mid-2024, the company was extending its proposition beyond active trading. Its self-directed retirement accounts were growing quickly, and a series of matching offers had brought billions of dollars of assets onto the platform. Read case
Rockwell Automation: choosing the next step in software and services
Rockwell Automation sells industrial automation products and systems, alongside software and services that help manufacturers monitor, operate, and improve their plants. Management has identified recurring revenue growth and industrial artificial-intelligence applications as strategic priorities. Read case
Rollins Inc.: Choosing the Next Layer of Growth
By late February 2024, Rollins had reported another year of growth across its pest-control businesses. The company operated through familiar brands such as Orkin and Fox Pest Control, serving residential and commercial customers with recurring pest, termite, and ancillary services. Read case
Ross Stores: How fast, and where, should the network grow?
On May 23, 2024, Ross Stores reported first-quarter results. Its March 11 release had set a fiscal-year plan to open approximately 90 stores: about 75 Ross Dress for Less and 15 dd’s DISCOUNTS. Eighteen locations had already opened by that March update. Read case
S&P Global: AI, data and the customer interface
S&P Global had entered a new chapter. On July 1, 2026, it separated its Mobility division into Mobility Global, leaving Ratings, Indices, Energy and Market Intelligence as its four operating segments. Read case
SBA Communications: where should the next dollar go?
On February 27, 2025, the latest numbers in SBA Communications Corporation’s annual report were less than a day old. The tower owner had just reported 2024 results, issued a 2025 outlook, and declared a higher quarterly dividend. Its acquisition of more than 7,000 Millicom sites in Central America was already under contract. Read case
ServiceNow: Prove the Value or Expand the Platform?
On July 24, 2024, ServiceNow reported that subscription revenue had grown 23% year over year in the second quarter. The same release said net-new annual contract value (NNACV) for Now Assist, the company's generative-AI product family, had doubled sequentially. Eleven Q2 transactions had more than $1 million in Now Assist NNACV. Read case
The Sherwin-Williams Company: Where Should the Next Store Go?
Sherwin-Williams built its Paint Stores Group (PSG) around company-operated specialty paint stores, sales representatives, knowledgeable employees, controlled distribution and digital tools. At the end of 2023 it operated 4,694 PSG stores. Management’s stated objective was to expand the store base by an approximate average of 2% annually, primarily through organic growth. Read case
Simon Property Group: What should come after the current redevelopment wave?
On August 4, Simon Property Group was preparing for its next quarterly report, scheduled for August 10. Its most recent reported quarter ended March 31. That Q1 release showed higher occupancy, rents, sales and operating income across the portfolio. Read case
SLB at the Data-Center Edge: Can Kelvion Make the Offer More Strategic?
On August 31, 2026, SLB announced an agreement to acquire Kelvion, a global provider of thermal-management and heat-exchange technologies. The transaction would add cooling capabilities to SLB’s growing Data Center Solutions (DCS) business. Read case
Smurfit Westrock: How should a five-year growth-capex plan be governed?
On the morning of July 29, 2026, Smurfit Westrock plc (SW) had just released its second-quarter results. The company was in the middle of a five-year plan to expand earnings, improve returns and generate cash. That plan included roughly $4 billion of growth capital expenditure over 2026–2030. Read case
SOLV Energy: Where Should the Next Growth Effort Go?
SOLV Energy had spent two years widening its position in power infrastructure. Its public presentation in September 2026 described five priorities: target large solar and battery-storage projects, grow operations and maintenance (O&M), expand into markets that use existing capabilities, use innovation to improve growth and margins, and make strategic acquisitions. Read case
Solventum: Which Path for Health Information Systems?
On August 5, 2026, Solventum announced its intention to pursue a separation of its Health Information Systems (HIS) business. The company said it would evaluate three broad pathways: HIS as an independent company, a combination with a scaled player, or another transaction. Read case
Sonic Automotive: How Fast Should EchoPark Grow?
On September 9, Sonic Automotive announced a record sales result at the Sturgis Motorcycle Rally. Sonic Powersports said it sold 1,135 motorcycles during the event, including 511 new Harley-Davidsons, across five Black Hills locations. More than 550 teammates had been deployed, and the company assembled over 1,200 motorcycles for the rally. Read case
Sonoco: When Is High Utilization Enough?
Sonoco Products Company had spent several years reshaping its portfolio. It had acquired Eviosys, sold TFP and ThermoSafe, and reorganized consumer packaging operations. Read case
Sonos: Opening the Door to AI Agents
In September, Sonos began positioning its connected audio system as an “audio operating system.” Sonos 27 introduced a way for outside AI assistants and agents to control a Sonos system, alongside the company’s own music-focused assistant and a preview of user-created “Custom Agents.” Sonos 27mcp was in Early Access; Sonos 27voice was planned for a later-fall Early Access… Read case
Sotera Health: Where Should the Next Growth Dollar Go?
In May 2026, Sotera Health appointed Alton Shader chief executive, effective May 26, with former CEO Michael B. Petras, Jr. becoming executive chairman. The company’s second-quarter filing described a familiar corporate task: its chief executive also serves as chief operating decision maker and evaluates the company’s three businesses using segment revenue and segment income. Read case
South Plains Financial: What Should Grow Next?
On December 31, Cory Newsom was scheduled to become chief executive of South Plains Financial, the Lubbock-based parent of City Bank. Curtis Griffith would retire as CEO but remain chairman. Newsom had been president and, according to Griffith, was already leading day-to-day operations and driving the growth strategy. Read case
The Southern Company: How Much Credit for Flexible Demand?
Georgia Power serves a fast-growing state while planning resources years ahead of when they can operate. A newly announced, very large customer brings a second question: how much should a utility count a customer’s promise to reduce electricity use when it plans for peak demand? Read case
Southern Missouri Bancorp: how fast should it use its buyback authority?
Southern Missouri Bancorp closed its fiscal year on June 30 with a new repurchase authorization already in place. Approved by the Board on January 20, the program allowed the company to buy up to 550,000 shares, which management described as approximately 5% of shares outstanding. Read case
Starbucks: testing technology for the green apron
Starbucks entered 2024 with a broad reinvention agenda. Its November 2023 “Triple Shot” strategy named three priorities—elevate the brand, scale digital capabilities and expand globally—supported by two “pumps”: operating efficiency and partner culture. The company described technology as one part of the plan. Read case
Stryker: Who Owns the Customer Relationship?
The second-quarter operating review had left Stryker's leadership with a question that the published numbers could not answer. The company's reported Vascular sales were nearly flat year over year in the quarter, but the U.S. and international lines moved in opposite directions. Inari Medical, acquired in February 2025, now sat within Stryker's Peripheral Vascular business. Read case
Synopsys: Who Owns the Engineering Agent?
On September 28, 2026, Synopsys announced AgentEngineer, a portfolio of long-horizon engineering agents, and Autopilot, a platform intended to orchestrate agents, tools, models, and engineering workflows. The company said more than 50 customer engagements were underway and that general availability was planned by year-end. Read case
Sysco — Filling the Route, Protecting the Margin
In October 2024, Sysco faced a familiar distribution question in an unusually visible form: where should the next increment of attention and operating capacity go? The company wanted to grow its local customer business, while keeping a large delivery network productive and improving profitability. Read case
T-Mobile US: How Far Should Home Internet Grow?
At the end of February 2024, T-Mobile’s High Speed Internet (HSI) service had become a visible part of the company’s customer-growth story. The fixed-wireless service uses T-Mobile’s nationwide 5G network and is offered to households in locations where the company says excess capacity is available. Read case
T. Rowe Price and F/m: How Much to Integrate?
T. Rowe Price Group (TROW) has announced an agreement to acquire F/m Investments, a specialist in fixed-income exchange-traded funds (ETFs) and separately managed accounts. The transaction is expected to close in early 2027, subject to customary filings and closing conditions. The price and other financial terms have not been disclosed. Read case
Targa Resources: How fast should the next capacity tranche move?
On May 7, 2026, Targa Resources raised its full-year adjusted EBITDA outlook while leaving its expected growth-capital spending unchanged. The company reported record Permian inlet volumes, a 19% year-over-year increase in first-quarter adjusted EBITDA and several projects already announced or underway. Read case
TE Connectivity: Is industrial growth becoming durable?
By October 2026, TE Connectivity’s Industrial Solutions segment was growing rapidly. The company attributed much of its digital-data-network growth to AI applications and cited strength in grid hardening, data centers, factory automation, and aerospace. Its Transportation Solutions segment remained a large business, anchored by automotive connectivity and sensors. Read case
TJX: How Fast Should the Next Store Wave Move?
The TJX Companies had 5,214 stores at the end of fiscal 2026. Management estimated that the company could eventually operate about 7,000 stores across its current and planned markets, including Spain. That figure was a long-run estimate, not an approved opening schedule. Read case
TKO Group: who should own the sponsor relationship?
TKO Group Holdings had built a portfolio that brought together UFC, WWE, PBR, IMG and On Location. Some commercial relationships already crossed property lines. Read case
Tractor Supply: Is the “Life Out Here” Growth Model Still on Track?
In July 2026, Tractor Supply Company (Tractor Supply) lowered its fiscal-year outlook after reporting a decline in comparable-store sales for the second quarter. The company also withdrew the long-term financial framework it had introduced in 2024 and said it planned to provide an updated framework with its fourth-quarter results. Read case
UDR: Is the operating recovery enough?
UDR, Inc. owns and operates apartment communities across the United States. The company describes a strategy built around targeted markets, operating improvements, and adapting its portfolio through acquisitions, sales, renovations, redevelopment, development, joint ventures, and other investments. Read case
Ulta Beauty — Where Should Growth Capacity Go?
On October 16, Ulta Beauty set out a new three-year plan: open 200 net new stores, work toward a long-term U.S. footprint of 1,800 or more stores, and grow Ulta Beauty Rewards to 50 million members by 2028. The company described four connected priorities—assortment, experience, access and loyalty—and reiterated its financial targets. Read case
United Airlines: Where Should the Next Dollar Go?
On July 18, 2024, United Airlines Holdings, Inc. (UAL) had released its second-quarter results and filed its quarterly report. The quarter was profitable, demand was strong in several customer segments, and cash generation had improved United's flexibility. Read case
United Rentals: Where Should the Next Fleet Dollar Go?
United Rentals entered 2024 with a broad rental network: 1,584 locations, about 4,800 equipment classes, and 995,000 equipment units. At year-end 2023, its fleet had $20.66 billion of original equipment cost (OEC). Equipment rentals made up 84% of the company’s $14.332 billion in revenue. Read case
UnitedHealth Group: Bidding for Medicare Advantage Under a Changing Model
On Friday, June 2, UnitedHealthcare's Medicare Advantage team had one last weekend before submitting its 2024 bids to the Centers for Medicare & Medicaid Services (CMS). The deadline was Monday, June 5. The company had to decide which county offerings to retain and how to set premiums and benefits for the next contract year. Read case
Ventas: A Demographic Tailwind, or a Return on Capital?
Ventas, Inc. had spent decades building a healthcare real-estate portfolio. By mid-2026, senior housing had become the center of its growth story. Occupancy and resident revenue were rising, the company had acquired dozens of communities, and management had raised its full-year senior-housing investment expectation to $4.5 billion. Read case
Vertiv: How Fast Should Capacity Grow?
On August 1, 2024, Vertiv Holdings Co. had just filed its second-quarter Form 10-Q. Orders had accelerated sharply, and management had raised its full-year outlook. June backlog stood at $7.0 billion. Read case
Vulcan Materials: Where Should the Next Growth Dollar Go?
At 10:59 a.m. Eastern on October 26, Vulcan Materials Company was about to begin its third-quarter earnings call. Its results release, filed that morning, showed aggregates shipments down 2% year over year, freight-adjusted prices up 15%, and freight-adjusted cash unit costs up 12%. Management described 2024 as another year of earnings growth and strong cash generation. Read case
Walmart: Scaling Convenience Without Losing the Economics
Walmart entered the holiday quarter with strong momentum. In its third-quarter fiscal 2025 release, the company reported 27% global e-commerce growth and 22% growth in Walmart U.S. e-commerce. Store-fulfilled pickup and delivery, marketplace, and advertising all contributed to digital growth. Read case
The Walt Disney Company: Connecting the Portfolio, Choosing the Growth Priority
In September 2026, Disney named Adam Smith chairman of Direct-to-Consumer within Disney Entertainment. The announcement described U.S. Disney+ bundle subscribers as able to stream Hulu and ESPN content in the Disney+ app. Read case
Waters Corporation — Funding the Next Adjacency
At its 19 May 2022 Analyst and Investor Day, Waters Corporation described a “Market+” strategy: execute in core markets and build exposure to adjacent markets. Management identified bio-separations, bioprocess characterization, LC-MS diagnostics, battery testing and sustainable polymers as potential opportunities. Read case
Wells Fargo: allocating the next increment of customer capacity
When Wells Fargo's asset cap was lifted in June 2025, the bank regained room to grow its balance sheet. The company was pursuing that opportunity through several routes at once: digital products and customer acquisition, branch refurbishment and relationship capacity, and targeted expansion in Commercial Banking. Read case
Welltower: Is Senior-Housing Growth Durable?
By the summer of 2026, Welltower Inc. had made senior housing the center of its growth story. The healthcare real-estate owner reported higher occupancy and resident revenue in its Seniors Housing Operating (SHO) portfolio, while also completing large acquisitions in the United States, Canada and the United Kingdom. Read case
West Pharmaceutical Services — Capacity Before the Rebound?
West Pharmaceutical Services had maintained its 2023 capital-spending guidance at $350 million. That plan included incremental capacity expansions at existing high-value product (HVP) facilities. Through September, the company had spent $253.3 million on capital expenditures. Read case
Western Digital: Separate HDD and Flash Now—or Wait?
On August 8, 2024, Western Digital Corporation (WDC) filed its annual report for the fiscal year ended June 28. Its board had unanimously authorized management to pursue separating the company’s hard disk drive (HDD) and Flash businesses into two independent public companies. Management was targeting completion in the second half of 2024. Read case
Weyerhaeuser — Staging the Land Portfolio
Weyerhaeuser manages a large forest estate, sells logs and timber, manufactures wood products, and develops other uses of its land. Its strategic plan calls for substantial growth in Strategic Land Solutions (SLS), including Climate Solutions. Read case
Williams: What should a pipeline proposal have to prove?
Williams had built its strategy around natural-gas infrastructure: gathering gas from producing areas, processing it, and moving it through interstate pipelines to utilities, power generators, industrial users, and export-related markets. At year-end 2023, the company reported nearly 18 Bcf/d of gathering volumes and 32.3 Bcf/d of contracted transmission capacity. Read case
W.W. Grainger: Where Should Digital Self-Service End?
Grainger had built a business in which digital ordering and specialist support were both part of the offer. Its March 2026 investor presentation reported that 75% of High-Touch Solutions U.S. (HTS U.S.) orders flowed through digital channels, while describing a sales team of more than 4,000, technical product support, inventory management and onsite services. Read case
Xylem — How Fast Should the Evoqua Integration Go?
Xylem completed its all-stock combination with Evoqua on 24 May 2023. At Xylem’s October 2024 Q3 results, management said integration was ahead of schedule and expected to exit 2024 with a $130 million annualized cost-synergy run rate. Read case
Zimmer Biomet: Sequencing ROSA Shoulder
On March 1, 2024, Zimmer Biomet’s strategy team is preparing for the expected U.S. availability of ROSA Shoulder in the second half of 2024. FDA has granted 510(k) clearance. Read case
Zoetis — Scaling Librela with Evidence and Discipline
On February 13, 2024, Zoetis reported full-year 2023 results and filed its annual report. The company had launched Librela in the United States in 2023 after FDA approval of bedinvetmab for control of pain associated with osteoarthritis in dogs. Librela was the first monoclonal antibody FDA approved for dogs. Its administration is prescription-only and monthly. Read case
Zumiez: Where Should the Next Stores Go?
On the afternoon of June 6, 2024, Zumiez reported results for its first quarter of fiscal 2024. The company’s release described its North American region as having “inflected positive” in the quarter. Read case