Financial Analysis
What Three Years of a Cash Flow Statement Reveals That One Year Hides
Profit is an opinion, cash is a fact, and one year of cash flow is a snapshot. It takes three years for the snapshot to become a story.
·6 min read
Financial Analysis
Statements, ratios, cash flow, and valuation, with the traps inside them.
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Financial Analysis
Comparing Two Companies on ROE, and Why the Higher One Is Not Always Better
Return on equity is one number, but it is built from three. Until you split it apart, a high ROE and a fragile ROE look exactly the same.
·6 min read
Financial Analysis
What a High P/E Actually Implies, and When It Is a Trap
A high P/E is not a verdict of "expensive." It is a sentence the market is speaking about the future, and learning to read that sentence is where valuation actually begins.
·6 min read