Estrategia de inversión de Philip Fisher

La estrategia, en lenguaje sencillo

• Gross margin ≥ 50% - Fisher's signature signal of genuine pricing power.
• Revenue CAGR ≥ 10% over 5 years - the business is growing, not just defending share.
• EPS growth outpaces revenue growth - operating leverage compounds, not just sales.
• ROIC ≥ 15% - capital is being deployed at high incremental returns.
• Conservative balance sheet - net debt / EBITDA ≤ 2× and limited share-count dilution.
• Willing to pay P/E up to 35 for exceptional quality - Fisher famously refused to sell good businesses to chase cheap ones.

From Common Stocks and Uncommon Profits (Fisher, 1958) and Conservative Investors Sleep Well (Fisher, 1975).

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