32% Customer Growth Rate, 74% Operating Margin, Down 26% From Recent Highs

Is this a stock for all markets?

Is this a stock for all markets?

This business expanded its customer base by 32% year-over-year.

Not 3.2%.

Thirty-two percent.

That's the kind of growth you might expect from an emerging tech company with a hot new product.

But this is a decades-old business in a mature industry.

How is this possible?

They've built a globally automated platform that scales beautifully.

The business model thrives in both up and down markets.

In fact, their revenue streams are diversified in a way that creates natural hedges against different market conditions.

Their primary revenue stream hit a record $514 million, up 36% year-over-year. Secondary income streams increased to $770 million. Ancillary fees rose 32% to $78 million.

It's no wonder they just increased their quarterly dividend by 28% and announced a four-for-one stock split to improve liquidity for shareholders.

I'll tell you what this business is.

But first, let me explain why it might be the most extraordinary company you've never invested in.