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Welcome to Speedwell Research!

We focus on producing comprehensive research on great public companies to equip investors with a thorough understanding of the business. Each research report covers a single company and goes into an incredible level of detail. Our investment analysis is not focused on quarterly trends, but rather distilling information down to make the big picture clear. 

Speedwell is named for the ship that helped ferry passengers to the Mayflower, which is how we view our role: we want to help investors so they can take their own journeys.  

Check out our current reports on the Companies page or drop your email below to get notified when we have new posts! 


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Accounting Insights: Alibaba, JD, and the $330bn Footnote

This is the second piece in our Investor Education Series. This post goes into details on how to piece together financial disclosures to build novel company insights. We go through JD’s disclosures back to 2015 to better understand Alibaba’s ability to monetize their platform. It is our most accounting intensive piece yet, but we believe…

Copart Deep Dive

Junkyards, wrecked cars, a duopoly, 30% operating margins, and two self-made billionaires: this is the story of Copart. From a single salvage yard in California to a global facilitator of over 3mn vehicles sales, Copart is not just the world’s largest salvage vehicle auction marketplace, but also a critical logistics provider and large land holding company. …

RH Deep Dive

From a money-losing retail mall concept that sold gimmicky mayonnaise spreaders, garden gnomes, and nostalgic snack foods to elaborate six-floor luxury furniture showrooms with some of the highest grossing restaurants nationally, RH (formerly Restoration Hardware) is one of the greatest business turnaround stories of all time.  While we are often taught to be weary of…

Speedwell Research Process & Philosophy

Speedwell Philosophy PowerPoint presentations, heavy in graphics and light in text, make it easy to BS and seem knowledgeable without having much expertise. Steve Jobs opined, “I hate the way people use slide presentations instead of thinking”. Jeff Bezos would ban them from his boardroom in favor of written memos that require a clarity of…

Meta Platforms Deep Dive

One of the world’s most influential tech companies, and just one of a handful businesses to ever reach a trillion-dollar valuation, Meta’s family of apps have achieved ubiquity on an unprecedented scale with ~3 billion active users. Their revenues have grown at a ~50% CAGR since IPOing while being wildly profitable with a ~50% core…

Floor & Decor Business History

This is an excerpt from our second Speedwell Research piece, which goes over Floor & Decor’s early history. It is just the beginning (<2 pages) of our ~14k word deep dive (50+ pages). We hope you enjoy it! Please email us at info@speedwellresearch.com for any questions, concerns, or comments. See our full disclaimer on our website. Business History. Floor…

Floor & Decor Deep Dive

For our latest research report, we chose to cover Floor & Decor (FND, ~$8bn market cap). If you take Costco and mix it with Sherwin Williams and focus on just the hard surface flooring market, then Floor & Decor (one of Berkshire’s more unmentioned stakes) is what you’d get.  Floor & Decor is a fast-growing…

Constellation Software PM Summary

PM Summary: Our PM Summaries are designed to make our content more accessible to readers who have time constraints or want to get a sense of whether a business could be of interest to them before having to go through the full report. These PM Summaries are very high-level compared to the granularity of our full…

Constellation Software Business History

This is an excerpt from our first Speedwell Research piece, which goes over Constellation Software’s early history. It is just the beginning (<2 pages) of our 12k+ word deep dive (40+ pages). We hope you enjoy it! Please email us at info@speedwellresearch.com for any questions, concerns, or comments. See our full disclaimer on our website. Introduction. Founding History. An…

Constellation Software Deep Dive

Best business in the world? How about a provider of a service that absent of which the business stops functioning entirely and only charges a small fraction of the overall cost base for it? Add in that the service isn’t just mission critical, but usually customized on the client’s dollar with both companies having their employees…