Sorry I didn't get right on this after the 21st, I meant to publish this final section on the 22nd, but some life came up. As mentioned on Tuesday, I'm going to look at Telecom Majors to see if anything looks good. This analysis will be in three parts: an analysis on year over year growth in earnings, a quality of earnings review and valuation using Ohlson Clean Surplus . I discussed the latter two on Seeking Alpha and published links on this blog. For convenience the links are in this article too. Year over Year Growth in Earnings This calculation looks at how many years the company has been able to achieve year over year growth in its earnings per share. What the graph below shows is the number of times the company has grown its earnings with respect to its previous year. The maximum score is six. T and SHEN have done fairly well with a score of four each. What I want to check next is how reliable those earnings results are. For that I use the quali