Data Dashboard Morningstar Wide Moat Focus Index The index consists of U.S. wide-moat stocks with the lowest price/fair value ratios. The table below shows the 20 cheapest in the index. Morningstar Equity Star Rating Tracker Number of stocks globally that received undervalued (4 and 5 stars) and overvalued (1 and 2 stars) ratings from Morningstar's equity analysts. Number of Stocks 12/2014-12/2017 Growth of $10K (01/2015-12/2017) 700 Overvalued $16K Morningstar Wide Moat Focus Index 599 251 350 14.50 13.75 Morningstar US Market Index Undervalued 8 0 12/2014 12/2015 12/2016 Company GlaxoSmithKline GSK:GB Elekta AB EKTA B:SE Price 4 01/2015 10 Most Undervalued Non-U.S. Stocks With Wide Moats 12/31/2017 Fair Value GBX 1322.50 GBX 1,890.00 12 01/2016 01/2017 Top 20 Cheapest Index Holdings 12/31/2017 Company Price ($) Fair Value ($) P/FV 0.70 QQQQ Allergan AGN 163.58 263.00 0.62 0.73 QQQQ Stericycle SRCL 67.99 105.00 0.65 0.74 QQQQQ General Electric GE 17.45 26.00 0.67 P/FV Morningstar Rating SEK 67.75 SEK 93.00 CHF 246.50 CHF 332.00 Enbridge ENB:CA CAD 49.16 CAD 64.00 0.77 QQQQ Cardinal Health CAH 61.27 84.00 0.73 Sanofi SAN:FR EUR 71.85 EUR 92.00 0.78 QQQQ CVS Health CVS 72.50 99.00 0.73 GBX 3,166.00 GBX 3,900.00 0.81 QQQQ McKesson MCK 155.95 210.00 0.74 102.23 131.00 0.78 Roche ROG:CH Imperial Brands IMB:GB HKD 406.00 HKD 492.00 0.83 QQQQ Salesfore.com CRM GEA Group G1A:DE EUR 40.01 EUR 47.00 0.85 QQQQ Guideware Software GWRE 74.26 95.00 0.78 Anheuser-Busch InBev ABI:BE EUR 93.13 EUR 105.00 0.89 QQQ Twenty-First Century Fox FOXA 34.53 43.00 0.80 Grp Aeroprt Centro Norte OMA B:MX MXN 101.67 MXN 114.00 0.89 QQQ Walt Disney DIS 107.51 130.00 0.83 Tencent 00700:CN 10 Most Undervalued Morningstar Equity Best Ideas 12/31/2017 Company Price Fair Value Morningstar P/FV Rating Cameco CCO:CA CAD 11.61 CAD 22.00 0.53 QQQQQ Cenovus Energy CVE:CA CAD 11.48 CAD 21.00 0.55 QQQQ Mattel MAT $15.38 $25.50 0.60 QQQQQ Synaptics SYNA $39.94 $64.00 0.62 QQQQ Telefonica TEF $9.68 $15.50 0.62 QQQQ Allergan AGN $163.58 $263.00 0.62 QQQQQ TripAdvisor TRIP $34.46 $55.00 0.63 QQQQ Advance Auto Parts AAP $99.69 $155.00 0.64 QQQQQ Great Wall Motor 2333:HK Stericycle SRCL 76 Morningstar February/March 2018 HKD 8.95 HKD 14.00 0.64 QQQQ $67.99 $105.00 0.65 QQQQQ Medtronic MDT 80.75 97.00 0.83 Express Scripts ESRX 74.64 89.00 0.84 Mondelez International MDLZ 42.80 51.00 0.84 Veeva Systems VEEV 55.28 65.00 0.85 Gilead Sciences GILD 71.64 84.00 0.85 Compass Minerals International CMP 72.25 84.00 0.86 The Western Union WU 19.01 22.00 0.86 Merck MRK 56.27 65.00 0.87 AmerisourceBergen ABC 91.82 106.00 0.87 Starbucks SBUX 57.43 66.00 0.87 Morningstar, Inc's Investment Management division licenses indexes to financial institutions as the tracking indexes for investable products, such as exchange-traded funds, sponsored by the financial institution. The license fee for such use is paid by the sponsoring financial institution based mainly on the total assets of the investable product. Neither Morningstar, Inc. nor its investment management division markets, sells or makes any representations regarding the advisability of investing in any investable product that tracks a Morningstar index. The Best Ideas list is compiled by Morningstar's equity research teams. Price/fair-value ratios are calculated by Morningstar analysts and reflect stocks currently under coverage. Wide Moat Focus Index methodology changed in June 2016.http://www.Salesfore.com