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Data & Methodology

Data Sourcing

Financial data is extracted directly from SEC EDGAR filings — 10-K and 10-Q reports for 10,000+ US stocks, covering up to 15 years of history. We parse the source filings ourselves; we don't touch third-party financial data aggregators for fundamentals.

Daily prices come from Yahoo Finance, end-of-day only — there is no intraday feed. Every SEC link on a stock page points to the official EDGAR database maintained by the Securities and Exchange Commission, so you can always verify a number against the primary source.

Valuation Methodology

The valuation chart plots stock price on a logarithmic scale against a fundamental fair value line, calculated as the trailing metric (EPS, FCF, etc.) multiplied by its median historical multiple. Four methods are available: P/E (earnings), P/FCF (free cash flow), P/CF (cash flow from operations), and P/OE (owner earnings).

The fair value line uses a 3-year geometric average of the underlying metric rather than the latest trailing twelve months. That's a deliberate choice: the best long-term investors don't value a business on a single quarter or year — they ask what it can sustainably earn over a full cycle. A 3-year average gets closer to that number than any single year can, smoothing out one-time items and cyclical noise, and it builds in a margin of safety for fast-growing companies since the average naturally lags behind the latest results.

The trade-off is real — this approach is more conservative for high-growth companies and more generous for ones in decline. We think that's the right bias for long-term investors: better to be approximately right and conservative than precisely wrong and aggressive.

AI Briefing Methodology

Every stock page includes an AI-generated briefing: a business description, a read on management's outlook, and — when the company has given one — a forward guidance table. Unlike a generic AI summary, none of it is built from outside commentary. It's generated entirely from the company's own 10-K and 10-Q filings and its earnings-call transcripts.

Because the model only reads the company's own reports, hallucination risk stays low, and every briefing lists its sources so the underlying filings can be checked directly. Each guidance figure is checked against the surrounding source text for attribution — quotes that plausibly refer to a different company (for example, a comparison to a competitor's numbers mentioned in the same filing) are excluded from the supporting quotes shown and from generated summary text.

Known Limitations

  • Prices are end-of-day only. There is no intraday or real-time feed.
  • Filing coverage varies by company size. Very small or thinly-traded companies sometimes file sparser XBRL data, which can leave some fields blank for a given year rather than showing an estimate.
  • Non-US coverage is newer and shallower. UK stocks (via ESEF filings) typically have around 5 years of annual history and no quarterly data, versus up to 15 years and full quarterly detail for US stocks.
  • Historical figures can be restated. When a company amends a prior filing, our data reflects the most recently available figures for that period.

Related Pages

Read more in the FAQ, the valuation chart guide, or About.