Where the numbers come from, and what we do to them.

Every piece of research in this section carries a Where this comes from block: who wrote it, the date it was prepared to, which data it rests on, by what method, and what position we hold in the matter.

We compute from the filings, not from data vendors. Where our figure disagrees with an aggregator, the method says why.

Thresholds are not norms. When the text says a value below some line is a warning sign, it states where that line comes from and what kind of company it was meant for.

What would reverse the conclusion. Research states the finding that would force us to change our mind. Without that, a conclusion is only an assertion.

These materials are informational. They are not investment advice or a recommendation, and they take no account of your circumstances, knowledge or objectives.