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Footnotes Season Finds (forensic accounting in real-time)

March 2, 20230Comments

Calculating True Profits & More from the Real Earnings Season

We found interesting footnote disclosures in the filings of Merck & Co. (MRK) and other companies during The Real Earnings Season.
by Kyle Guske II, Senior Investment Analyst, MBA
Danger Zone
February 20, 20230Comments

The Real Earnings Season Starts Now: Time to Read Filings & Footnotes 2023

Quarterly earnings season may be winding down, but the real earnings season – annual 10-K filing season – is ramping up.
by Kyle Guske II, Senior Investment Analyst, MBA
March 21, 20220Comments

The Importance of Reading Footnotes – Filing Season 2022 Recap

During the Real Earnings Season, our Robo-Analyst analyzed 1,893 10-K and 10-Q filings, from which we collected 264,723 data points.
by Kyle Guske II, Senior Investment Analyst, MBA
March 15, 20220Comments

Understated Profits & More From the Real Earnings Season

This week’s Filing Season Finds report highlights some of the most interesting footnote disclosures in the 176 10-Ks and 10-Qs our Robo-Analyst analyzed last week.
by Kyle Guske II, Senior Investment Analyst, MBA
March 7, 20220Comments

Eliminating Operating Lease Disclosure & More From the Real Earnings Season

This week’s Filing Season Finds report highlights some of the most interesting footnote disclosures in the 727 10-Ks and 10-Qs our Robo-Analyst analyzed last week.
by Kyle Guske II, Senior Investment Analyst, MBA
February 28, 20220Comments

Hidden Items Suppress True Profitability & More From the Real Earnings Season

We found interesting footnote disclosures in the filings of Fidelity National Information Services and other companies last week during The Real Earnings Season.
by Kyle Guske II, Senior Investment Analyst, MBA
February 23, 20220Comments

GE Cuts Transparency & More From the Real Earnings Season

We found interesting footnote disclosures in the filings of General Electric (GE) and other companies last week during The Real Earnings Season.
by Kyle Guske II, Senior Investment Analyst, MBA
Danger Zone
February 14, 20220Comments

The Real Earnings Season Starts Now: Time to Read Filings & Footnotes (Feb 2022)

Quarterly earnings season may be winding down, but the real earnings season – annual 10-K filing season – is ramping up
by Kyle Guske II, Senior Investment Analyst, MBA
March 31, 20210Comments

The Importance of Reading Footnotes – Filing Season 2021 Recap

During the Real Earnings Season our analyst team made 35,498 forensic accounting adjustments with a dollar value of $18 trillion.
by Alex Sword
March 24, 20210Comments

Hidden Items Make Earnings Look Much Better & Other Findings From the Real Earnings Season

We found unusual items in the filings of General Electric (GE) and several other companies during the fourth week of The Real Earnings Season.
by Alex Sword
March 22, 20210Comments

Hidden Charges Make a Bad Year Look Worse & Other Findings From the Real Earnings Season

We found unusual items in the filing of Ingersoll Rand (IR) and several other companies during the third week of The Real Earnings Season.
by Kyle Guske II, Senior Investment Analyst, MBA
March 9, 20210Comments

Hidden Impairment Charges & Other Findings From the Real Earnings Season

We found unusual items in the filings of Exxon Mobil (XOM) and several other companies during the second week of The Real Earnings Season.
by Kyle Guske II, Senior Investment Analyst, MBA
March 1, 20210Comments

Write-Downs Understate True Profits & Other Findings from the Real Earnings Season

We found unusual items in the filings of Dropbox Inc. (DBX) and several other companies during the first week of The Real Earnings Season.
by Matt Shuler, Investment Analyst II
February 25, 20210Comments

Bio-Rad’s Non-Operating Income Overstates GAAP Net Income

Non-operating income not only overstates GAAP net income but could negatively impact the firm’s ability to obtain additional financing.
by Kyle Guske II, Senior Investment Analyst, MBA
February 22, 20210Comments

The Real Earnings Season Starts Now: Time to Read Filings & Footnotes (Feb 2021)

The only way to overcome the flaws in GAAP net income is through rigorous analysis of company filings, especially the footnotes and MD&A.
by Kyle Guske II, Senior Investment Analyst, MBA
February 19, 20210Comments

Where’s Disney’s “Other Income”?

We noticed something missing from The Walt Disney Company’s (DIS) income statement in its fiscal 1Q21 10-Q: “Other Income.”
by Matt Shuler, Investment Analyst II
February 18, 20210Comments

MicroStrategy’s Outsized Bitcoin Holdings Distort Earnings

Similar to what we saw with Tesla’s recent Bitcoin purchase, MicroStrategy’s Bitcoin assets can be tools for earnings management.
by Kyle Guske II, Senior Investment Analyst, MBA
February 11, 20210Comments

Tesla’s Bitcoin Gamble Used to Manipulate Earnings

This report highlights Tesla’s chosen accounting treatment of its recent purchase of $1.5 billion in Bitcoin and how it will impact GAAP net income.
by Matt Shuler, Investment Analyst II
PEBV Ratio Analysis
January 21, 20210Comments

Non-Operating Income Distorts Earnings

Unusual non-operating items resulted in GAAP net income materially misrepresenting this firm’s true profits.
by Alex Sword
September 17, 20200Comments

Kitchen-Sink Effect In the Spotlight

A specific company example of how our cutting-edge technology sees through accounting tricks and provides our clients with a cleaner and more comprehensive measure of core earnings.
by Kyle Guske II, Senior Investment Analyst, MBA
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