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Companies · Puzzle #38 · Friday, November 6

Companies: the board

Eight items, eight categories, one place each. Here is the board with every figure and where it comes from, and the best way to place them. Play today's Companies.

The categories

The best board

  1. Travelers in Heritage: founded in 1853, 173 years ago (10.0)
  2. Union Pacific in Dividends: $3.2B paid in dividends in the year to December 2025 (9.3)
  3. Charter (Spectrum) in Buybacks: $5.1B of its own stock bought back in the year to December 2025 (9.0)
  4. CSX in On the Nasdaq: trades on the Nasdaq (10.0)
  5. Darden (Olive Garden) in Workforce: 209,931 employees at the end of May 2026 (9.6)
  6. Estée Lauder in Off-calendar year: its fiscal year ends in June (10.0)
  7. Cisco in Profit: $13.3B profit in the year to July 2026 (9.7)
  8. Moody's in Profit margin: a 31.9% profit margin in the year to December 2025 (10.0)

The most this board could score: 77.6 of 80.

The lineup, figure by figure

  1. Travelers

    Property and business insurance

    Travelers's best fit on this board was Heritage, worth 10.0: founded in 1853, 173 years ago. Its weakest was Off-calendar year, worth 0.0: its fiscal year ends in December. That is where the best board puts it as well.

    Profit margin
    a 12.9% profit margin in the year to December 2025 (4.3) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12
    Profit
    $6.3B profit in the year to December 2025 (8.1) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12
    Off-calendar year
    its fiscal year ends in December (0.0) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12
    On the Nasdaq
    trades on the NYSE (0.0) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12
    Buybacks
    $3.0B of its own stock bought back in the year to December 2025 (8.2) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12
    Heritage
    founded in 1853, 173 years ago (10.0) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12
    Workforce
    34,000 employees at the end of December 2025 (5.6) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12
    Dividends
    $979M paid in dividends in the year to December 2025 (7.6) Source: TRAVELERS COMPANIES, INC. 10-K, filed 2026-02-12

  2. Union Pacific

    Freight railroad

    Union Pacific's best fit on this board was Profit margin, worth 9.7: a 29.1% profit margin in the year to December 2025. Its weakest was Off-calendar year, worth 0.0: its fiscal year ends in December. The best board puts it in Dividends instead, for 9.3, and gives Profit margin to Moody's (10.0).

    Profit margin
    a 29.1% profit margin in the year to December 2025 (9.7) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06
    Profit
    $7.1B profit in the year to December 2025 (8.4) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06
    Off-calendar year
    its fiscal year ends in December (0.0) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06
    On the Nasdaq
    trades on the NYSE (0.0) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06
    Buybacks
    $2.7B of its own stock bought back in the year to December 2025 (8.1) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06
    Heritage
    founded in 1969, 57 years ago (3.8) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06
    Workforce
    29,287 employees at the end of December 2025 (5.3) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06
    Dividends
    $3.2B paid in dividends in the year to December 2025 (9.3) Source: UNION PACIFIC CORP 10-K, filed 2026-02-06

  3. Charter (Spectrum)

    Spectrum cable and internet

    On this board Charter (Spectrum) scored best in On the Nasdaq (10.0): it trades on the Nasdaq. Off-calendar year was its weakest fit (0.0): its fiscal year ends in December. The best board puts it in Buybacks instead, for 9.0, and gives On the Nasdaq to CSX (10.0).

    Profit margin
    a 9.1% profit margin in the year to December 2025 (3.0) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30
    Profit
    $5.0B profit in the year to December 2025 (7.6) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30
    Off-calendar year
    its fiscal year ends in December (0.0) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30
    On the Nasdaq
    trades on the Nasdaq (10.0) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30
    Buybacks
    $5.1B of its own stock bought back in the year to December 2025 (9.0) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30
    Heritage
    founded in 1993, 33 years ago (2.2) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30
    Workforce
    91,900 employees at the end of December 2025 (7.8) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30
    Dividends
    no dividends in the year to December 2025 (0.0) Source: CHARTER COMMUNICATIONS, INC. /MO/ 10-K, filed 2026-01-30

  4. CSX

    Freight railroad

    CSX trades on the Nasdaq, so its best fit on this board was On the Nasdaq, worth 10.0. Its weakest was Off-calendar year, worth 0.0: its fiscal year ends in December. That is where the best board puts it as well.

    Profit margin
    a 20.5% profit margin in the year to December 2025 (6.8) Source: CSX CORP 10-K, filed 2026-02-12
    Profit
    $2.9B profit in the year to December 2025 (6.4) Source: CSX CORP 10-K, filed 2026-02-12
    Off-calendar year
    its fiscal year ends in December (0.0) Source: CSX CORP 10-K, filed 2026-02-12
    On the Nasdaq
    trades on the Nasdaq (10.0) Source: CSX CORP 10-K, filed 2026-02-12
    Buybacks
    $1.4B of its own stock bought back in the year to December 2025 (7.1) Source: CSX CORP 10-K, filed 2026-02-12
    Heritage
    founded in 1980, 46 years ago (3.1) Source: CSX CORP 10-K, filed 2026-02-12
    Workforce
    23,000 employees at the end of December 2025 (4.8) Source: CSX CORP 10-K, filed 2026-02-12
    Dividends
    $972M paid in dividends in the year to December 2025 (7.6) Source: CSX CORP 10-K, filed 2026-02-12

  5. Darden (Olive Garden)

    Owner of Olive Garden and LongHorn Steakhouse

    On this board Darden (Olive Garden) scored best in Off-calendar year (10.0): its fiscal year ends in May. On the Nasdaq was its weakest fit (0.0): it trades on the NYSE. The best board puts it in Workforce instead, for 9.6, and gives Off-calendar year to Estée Lauder (10.0).

    Profit margin
    a 9.1% profit margin in the year to May 2026 (3.0) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24
    Profit
    $1.2B profit in the year to May 2026 (4.5) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24
    Off-calendar year
    its fiscal year ends in May (10.0) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24
    On the Nasdaq
    trades on the NYSE (0.0) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24
    Buybacks
    $672M of its own stock bought back in the year to May 2026 (6.1) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24
    Heritage
    founded in 1968, 58 years ago (3.9) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24
    Workforce
    209,931 employees at the end of May 2026 (9.6) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24
    Dividends
    $693M paid in dividends in the year to May 2026 (7.1) Source: DARDEN RESTAURANTS INC 10-K, filed 2026-07-24

  6. Estée Lauder

    Luxury skincare and makeup, including Clinique

    On this board Estée Lauder scored best in Off-calendar year (10.0): its fiscal year ends in June. On the Nasdaq was its weakest fit (0.0): it trades on the NYSE. The best board puts it there too.

    Profit margin
    a 1.2% profit margin in the year to June 2026 (0.4) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19
    Profit
    $182M profit in the year to June 2026 (0.4) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19
    Off-calendar year
    its fiscal year ends in June (10.0) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19
    On the Nasdaq
    trades on the NYSE (0.0) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19
    Buybacks
    $70M of its own stock bought back in the year to June 2026 (2.8) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19
    Heritage
    founded in 1946, 80 years ago (5.3) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19
    Workforce
    55,000 employees at the end of June 2026 (6.7) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19
    Dividends
    $508M paid in dividends in the year to June 2026 (6.7) Source: ESTEE LAUDER COMPANIES INC 10-K, filed 2026-08-19

  7. Cisco

    Networking gear that runs the internet

    On this board Cisco scored best in Off-calendar year (10.0): its fiscal year ends in July. Heritage was its weakest fit (2.8): founded in 1984, 42 years ago. The best board puts it in Profit instead, for 9.7, and gives Off-calendar year to Estée Lauder (10.0).

    Profit margin
    a 20.9% profit margin in the year to July 2026 (7.0) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02
    Profit
    $13.3B profit in the year to July 2026 (9.7) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02
    Off-calendar year
    its fiscal year ends in July (10.0) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02
    On the Nasdaq
    trades on the Nasdaq (10.0) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02
    Buybacks
    $6.1B of its own stock bought back in the year to July 2026 (9.3) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02
    Heritage
    founded in 1984, 42 years ago (2.8) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02
    Workforce
    82,400 employees at the end of July 2026 (7.6) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02
    Dividends
    $6.6B paid in dividends in the year to July 2026 (10.0) Source: CISCO SYSTEMS, INC. 10-K, filed 2026-09-02

  8. Moody's

    Credit ratings and financial data

    Moody's's best fit on this board was Profit margin, worth 10.0: a 31.9% profit margin in the year to December 2025. Its weakest was Off-calendar year, worth 0.0: its fiscal year ends in December. That is where the best board puts it as well.

    Profit margin
    a 31.9% profit margin in the year to December 2025 (10.0) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18
    Profit
    $2.5B profit in the year to December 2025 (6.1) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18
    Off-calendar year
    its fiscal year ends in December (0.0) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18
    On the Nasdaq
    trades on the NYSE (0.0) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18
    Buybacks
    $1.6B of its own stock bought back in the year to December 2025 (7.3) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18
    Heritage
    founded in 1909, 117 years ago (7.8) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18
    Workforce
    16,076 employees at the end of December 2025 (4.0) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18
    Dividends
    $701M paid in dividends in the year to December 2025 (7.1) Source: MOODYS CORP /DE/ 10-K, filed 2026-02-18

All of puzzle #38 · The archive