RiskSOFI
Why Everyone Is Wrong About SoFi's Path to Profitability
SoFi just posted its first full year of profitability with $500 million in net income. The bulls are celebrating. They should be worried.
Apr 6, 2026
Free Analysis
Data-driven stock analysis, valuation deep dives, and financial forensics. Every article backed by the numbers.
Deep DivesUNH
Inside UnitedHealth's Margin Problem
The world's largest healthcare company by revenue just posted a 2.7% profit margin on $447.6 billion in revenue. The Optum story is strong — but the insurance side is under pressure.
Apr 6, 2026
Capital AllocationCOST
Four Things the Market Keeps Getting Wrong About Costco
At 52.9x trailing earnings with a 3% profit margin, Costco looks absurdly overvalued. Four structural factors explain why the premium is not just justified — it may be too low.
Apr 6, 2026
ValuationV
Visa vs Mastercard: Which Payments Giant Deserves the Premium?
Visa at 28.2x and Mastercard at 29.9x trailing earnings — two near-identical business models with a persistent valuation gap. The winner is clearer than the market thinks.
Apr 6, 2026
Deep DivesAMD
AMD's Data Center Inflection: What the FCF Numbers Actually Say
Free cash flow tripled in 2025. The market is still pricing in a distant second.
Apr 6, 2026
Capital AllocationCAT
Caterpillar's Capital Return Machine Deserves a Premium Multiple
With $10.3 billion in free cash flow and a 16% operating margin on $67.6 billion in revenue, Caterpillar is executing a capital allocation playbook that the market has not fully valued.
Apr 6, 2026
RiskGS
The Risk the Market Isn't Pricing Into Goldman Sachs
Goldman Sachs posted $17.2 billion in net income and trades at just 16.8x earnings. The numbers look strong. The business mix concerns me.
Apr 6, 2026
RiskJPM
Revisiting JPMorgan After a Record-Breaking Year
Net income of $57 billion and a 14.7x PE look compelling — but the risk picture has shifted since our last analysis, and not in the direction bulls want.
Apr 6, 2026
Market SignalsXOM
Oil's Iran Premium Is Fading and Exxon Stands to Lose the Most
Fresh hopes for a swift end to the Iran conflict are pulling oil prices lower — and ExxonMobil's $669.6 billion valuation is built on prices staying elevated.
Apr 5, 2026
Capital AllocationNFLX
Netflix's NFL Bet Is Smarter Capital Allocation Than the Market Thinks
With $9.5 billion in free cash flow and operating margins pushing toward 25%, Netflix's live sports investment is a calculated bid for the highest-value advertising inventory in media.
Apr 5, 2026
ValuationGOOGL
Alphabet at 27x: What the Market Is Missing About Its Margin Engine
A 32% net income jump, $91B in capex, and still-expanding margins. This is not a mature company priced like one.
Apr 5, 2026
Deep DivesLLY
Revisiting Our Eli Lilly Thesis After the GLP-1 Revenue Surge
Revenue jumped 45% to $65.2 billion and FCF recovered from near-zero to $9 billion — but at 40.8x trailing earnings, has the market already priced in the miracle?
Apr 5, 2026
ValuationNEM
Why the Street Is Wrong About Newmont at Eighteen Times Earnings
Newmont's $7.3 billion in free cash flow and 31% profit margin suggest the world's largest gold miner deserves a re-rating the consensus refuses to give it.
Apr 5, 2026
ValuationSLB
The ChampionX Deal Changes Everything for SLB's Margin Story
SLB's acquisition of ChampionX repositions the world's largest oilfield services company from cyclical driller to recurring-revenue technology platform.
Apr 5, 2026
Market SignalsRIO
Rio Tinto's Aluminium Reset Could Reshape Its Entire Earnings Profile
A renewables-backed smelter deal and production recovery signal a structural shift in Rio's second-largest business segment.
Apr 5, 2026