The whole market, measured by its value.
We analyze every stock with a transparent, opinionated method: price against intrinsic value, with the discipline of value investing and a long-term lens on return on capital.
How we analyze every stock
Value through two methods
Sum-of-the-parts (forward multiples) and discounted cash flow, both brought to present value. Market price is measured against intrinsic value, not against short-term fluctuations.
Traceable to the filing
Every analysis is built on the official reports companies file with the SEC —10-K, 10-Q, proxy—, not third-party data. The derivation of each figure is laid out and auditable.
Eight angles
Industry, moat, growth, profitability, health, management, risks and valuation — the whole business, not a single ratio.
Fit to the business
A marketplace, a lender and an oil producer aren't valued the same way. The method adapts the metric to the type of business.
Analyzed stocks
Each analysis with its verdict, its margin of safety and the detail behind every number.
Buy value, with a margin of safety
We estimate what the business is worth and buy only below that value. The return on reinvested capital compounds value over time, and the margin of safety protects against estimation errors.
Read the full method →Free access to the analyses
The entire library —the verdict, the two methods, the scenarios, the financial-health check and why it's cheap or expensive— is free to read, no sign-up required. Every analysis with its derivation on display and traceable to the original filing.
Get started freePrice is what you pay; value is what you get.