Jan Reports

This release is about saying only what the numbers support: explanations were checked against original reports, and where evidence falls short the app shows the numbers and stops. Overall score and traffic light - When fewer than 4 cards can count toward the score (common for banks, insurers, REITs and investment companies), there's no 0–10 score or traffic light; the report says why instead. Cards that make no call no longer count as a zero. A yellow light with no good and bad signs among the scored cards reads "Mid-range score — the details matter". Card badges read "good sign / bad sign". Settings explains how the score works, company-named tags, and how the cushion card counts investments. No made-up stories - The headline and the cost and gross-margin cards give a reason only when the data supports one. "Is the money coming in" no longer guesses at motives such as loosened credit terms; it lists possible causes side by side. - When an item wasn't recognized, the app says so — not that the filing doesn't have it. - Limitation notes and "What the code can't see" say only what holds in the code and the accounting rules. Debt and cash - "How thick is the cushion" says "net cash" only when cash plus short-term investments that check out cover the debt; long-term securities, unreconciled figures and separate lease liabilities can only hold back a conclusion. Sources that read cash only (PDFs, manual entry, Europe, Korea) no longer say "net debt" when cash is below debt. - Interest-bearing debt is picked up more fully and added up wrongly less often (Tencent's notes payable, Walmart's quarterly short-term borrowings, Nokia's borrowings). China A-share and Taiwan PDFs add only borrowing lines from the same consolidated balance sheet, and say so when the total may be incomplete. - The debt-ratio card is now "How much is owed" and no longer treats all liabilities as a mortgage; it mentions deposits or policy reserves only for SEC-registered banks or insurers. Clearer definitions - In a year with a business sold or spun off (US filings), profit growth, net margin and cash versus profit use continuing operations; the comparison page doesn't compare net profit or EPS across such a period. - Cards say whether profit is the parent's share or includes minority interests, what the EPS numerator is, and whether finance leases are in interest-bearing debt (or that it can't be checked). - The share-count card describes the average count and no longer assumes fewer shares means buybacks; with both counts in a US filing, it judges on the basic count. - A US "operating income" figure that the filing's own income statement shows isn't that line (Disney tags its segment total) is treated as not recognized. - When over half of revenue was billed or paid for earlier and mainly explains the growth (US filings), the growth isn't treated as good news. Cash and profit - The cash-quality and free-cash-flow cards drop phrases like "the real deal" and "free to spend"; when added-back stock pay exceeds operating cash flow, they describe without scoring in some cases. Free cash flow no longer infers "plants and equipment" from a tag name. - "Is spending under control" no longer re-counts a gross-margin change, and a small margin gain no longer earns green. - Property REITs have property-sale gains and losses taken out before comparing profit with cash; Brazilian banks' "financial intermediation revenue" is no longer treated as revenue. Other fixes - US amended annual reports (10-K/A etc.) now use full-year figures, and margins and free cash flow no longer mix periods of different lengths. When a filer's fiscal year or quarter tag doesn't fit the period end, the headline uses dates ("three months through…"). - An off-by-one day in US "revenue per day", Indian reports named after the exchange, and more.