Amazon enters September 2025 with accelerating fundamentals and a stock approaching prior highs. Over the last 12 months, trailing revenue reached $670.04B, with quarterly revenue growth of 13.30% year over year and quarterly earnings growth of 34.70%. Profitability continues to firm, reflected in a 10.54% profit margin and 11.43% operating margin, supported by $121.14B in operating cash flow and $31.02B in levered free cash flow. Shares have risen 31.35% over the past year versus 18.19% for the S&P 500, trading near a 52‑week high of $242.52 and above the 50‑ and 200‑day moving averages. Against this backdrop, investors are watching AWS, the grocery push highlighted by Evercore, Project Kuiper’s first airline customer, and commentary around AI GPU investments—key drivers that could shape Amazon’s three‑year trajectory.

Koç Holding (KCHOL.IS) enters late 2025 balancing scale with caution. The diversified conglomerate reports trailing 12‑month revenue of 2.13T, gross profit of 321.33B and EBITDA of 84.92B, yet net income attributable to common is -5.22B and profit margin sits at -0.25%. Leverage is notable (total debt 1.05T; debt/equity 109.82%) and liquidity tight (current ratio 0.89), while operating and free cash flow are negative. Shares have been volatile: after an April low near 138.40, the stock recovered toward 186.30 in August before easing to roughly 166 by September 9; the 52‑week range is 133.70–207.80. With a forward dividend yield of 4.18% but an elevated payout ratio, investors face a trade‑off between income and coverage risk. This note outlines a three‑year outlook and key swing factors.

LVMH (MC.PA) enters late‑2025 after a reset in luxury demand. Over the last year, the stock fell 18.98% and trades near 492 (Sep 9, 2025), below its 200‑day moving average of 558.43 but close to the 50‑day at 481.76. Despite softer momentum—TTM revenue of 82.82B with quarterly revenue growth -4.50% and quarterly earnings growth -21.60%—profitability remains robust (13.26% net margin; 22.58% operating margin) and cash generation strong (TTM operating cash flow 19.52B; levered free cash flow 13.22B). Valuation sits at 22.55x trailing P/E and 20.24x forward, supported by a 2.62% forward dividend yield and 59.09% payout ratio. Recent headlines include an HSBC upgrade and signs of improving luxury sentiment, while brand initiatives such as Louis Vuitton’s high‑end beauty releases aim to deepen customer engagement for the next cycle.

With shares of GSK plc (GSK.L) trading around 1,464.5p as of 8 September 2025, the stock has spent six months oscillating between 1,294p and 1,534p. The company pairs defensive characteristics (beta 0.29) with a sizable income profile (forward dividend yield 4.34% on a 0.64 per‑share rate, ex‑div 14 August 2025). Fundamentals are mixed: trailing‑twelve‑month revenue stands at 31.63B with quarterly revenue growth of 1.30% year over year, yet quarterly earnings growth is a stronger 23.0%, supported by a 30.52% operating margin and 10.82% profit margin. Cash generation remains solid (operating cash flow 7.72B; levered free cash flow 5.48B), but balance‑sheet metrics warrant monitoring, with total debt of 17.35B, debt‑to‑equity of 120.90% and a current ratio of 0.87. This three‑year outlook assesses risks, catalysts and plausible paths for the share price.