Colgate-Palmolive

Demand for oral care, personal care, home care, and pet nutrition is inherently steady and globally diversified. Colgate’s revenue base is resilient with two thirds outside the U.S. and about 45% from emerging markets, which diversifies country risk.

The business model is brand-led, repeat purchase, with advertising and R&D that maintain long-term household penetration. Risks to predictability include currency swings, tariff regimes, and periodic consumer trading down, which can slow growth but rarely impair the franchise.

We view Colgate as a classic tollbooth-like staples compounder with a stable mid single-digit organic growth algorithm over a cycle.