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The numbers, explained.

Plain-language guides to reading markets — every indicator and ratio the way it actually behaves, not the textbook caricature. Educational research, never advice.

Fundamentals

10 guides
Fundamentals

What counts as a "good" P/E ratio?

Why the same P/E can be cheap for one company and dangerous for another — and where EV/EBITDA sees what P/E can't.

5 min read · with a worked MSFT example
Fundamentals

Margins, explained: gross, operating, net

Three numbers that tell you how a business actually keeps a dollar of sales — and what a falling one is warning you about.

4 min read · with a worked AAPL example
Fundamentals

EV/EBITDA vs P/E: the multiple that sees debt

The valuation multiple that counts the debt a plain P/E ignores — and when that difference changes the story.

5 min read · with a worked VZ example
Fundamentals

Revenue vs earnings growth: mind the gap

A company can grow sales and shrink profits at once. What the gap between the two reveals about margins.

4 min read · with a worked NVDA example
Fundamentals

What market cap actually measures

A $15 stock isn't "cheaper" than a $200 one. Why share price says nothing about company size — and what does.

4 min read · with a worked NVDA vs Ford example
Fundamentals

Beta: what it does and doesn't tell you

Beta is sold as a risk score. It isn't. What it really measures — co-movement with the market — and why that's not the same as danger.

4 min read · with a worked KO example
Fundamentals

Return on equity: quality, or just leverage?

A high ROE can mean genuine quality — or just debt and buybacks shrinking the denominator. How to tell them apart.

5 min read · with a worked AAPL example
Fundamentals

Dividend yield, and why a high one can be a warning

A fat yield looks like free money. Why an unusually high one is often the market pricing in a cut.

4 min read · with a worked VZ example
Fundamentals

EV/Revenue: valuing a company that barely earns

P/E needs profits. For companies that barely earn, here's the multiple that's left — and the margin trap inside it.

5 min read · with a worked SNOW example
Fundamentals

Free cash flow: the cash a business actually throws off

Earnings are an opinion; cash is a fact. What FCF is, why it's harder to fake than profit, and how FCF yield values it.

5 min read · with a worked AAPL example