To properly determine if a company is a good buy, it should meet the following:

1) It should be a large, adequately sized company with enough resources and market share to remain competent through recessions and dips.

2) It must be financially stable. Adequate income over the past 10 years, low debt, and high liquidity.

3) It must be led by solid, qualified, competent management.

Bonus:
1) The organization must not have missed a dividend payment in the last 20 years. (If applicable)
2) The organization carries an intangible, positive brand identity (ie. Starbucks, Apple)

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