Read the business

Fundamental Analysis

The three financial statements, every Scorecard dimension, cash flow, dividends, earnings, analyst targets, and the insider/institutional ownership signals that give this site its name — the full toolkit for reading a business.

Start — What Is Fundamental Analysis? →

Why this track

This is the full breakdown behind every number in the Scorecard — Value, Growth, Quality, Momentum, and Stability — plus the dividends, earnings, and ownership signals shown on every ticker page. If you've ever wondered what actually goes into one of those scores, it's here.

The goal isn't to make you an accountant. It's to make the numbers on this site load-bearing instead of decorative, so a score of 81 means something specific, not just "good."

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What Is Fundamental Analysis?

A stock is a claim on a real business's future earnings — this track is about figuring out what that claim is actually worth.

Revenue & Earnings: The Basic Vocabulary

What "revenue," "earnings," and "margin" actually mean, so the next lesson isn't the first time these words show up.

Reading the Three Financial Statements

Income Statement, Balance Sheet, Cash Flow Statement — three different questions about the same business.

Is the stock cheap or expensive relative to what it actually earns?

Is the business actually getting bigger, and how fast?

Business Health

How efficiently does this business turn revenue and capital into actual profit?

The cash left over after running and maintaining the business — widely considered harder to distort than reported net income.

How much financial and price risk is baked into holding this?

Other Valuation Multiples

P/E isn't the only way to size up price against fundamentals — P/S, P/B, and EV/EBITDA fill in cases where P/E breaks down.

Earnings & Expectations

Earnings Season: Beats, Misses, and Guidance

Not the financial statements themselves — the quarterly ritual built around releasing them: the press release, the earnings call, and the guidance that usually moves the stock more than the numbers.

Cash a company pays out directly to shareholders, and how to tell a healthy payout from an unsustainable one.

Earnings & EPS Beat Rate

How often has this company actually beaten what analysts expected it to earn?

Analyst Ratings & Price Targets

What Wall Street's sell-side analysts collectively think this stock is worth, and how much weight that actually deserves.

Advanced Signals

Insider Trading (Form 4)

What a company's own executives and directors are doing with their own shares — and which of those transactions actually signal anything.

13F Filings & Institutional Ownership

What the largest professional investors — hedge funds, and famous names like Berkshire Hathaway — actually hold, straight from their own required disclosures.

The percentage of a stock's available shares currently sold short — a direct read on how much the market is betting against it.

DCF — Discounted Cash Flow

Valuing a business by directly estimating all the cash it will ever generate — and what that's worth today.

Macro & Market Cycles

Economic Cycles & Recessions

The economy moves in a repeating rhythm of expansion and contraction — and the stock market moves ahead of it, not with it.

Interest Rates & the Stock Market

Why a central bank raising or cutting rates moves stock valuations directly, not just borrowing costs.

Inflation & Your Portfolio

A return that doesn't beat inflation is a loss in real terms, even when the account balance goes up.

Sectors & Industries: Grouping the Market

The market is organized into standard sectors — and comparing a company's valuation within its own sector, not the whole market, is what actually makes sense.