How the decoding works
Methodology
We translate company reporting into plain language without pretending the evidence says more than it does.
1. Reported facts
Sales, price contribution, volume or mix, margins, earnings, cash flow, and dividends come from official company publications. Each material fact links to the exact cited passage.
2. Calculations
When we calculate a change or comparison, we identify the inputs and keep the calculation separate from figures the company reported directly.
3. Editorial interpretation
We explain what combinations of pricing, volume, margin, profit, and shareholder returns mean for an ordinary buyer. Interpretations are labelled and remain tied to their supporting receipts.
4. Unresolved questions
An earnings report cannot, by itself, prove why a shelf price changed, whether an increase was necessary, or whether a company has power in a defined market. Missing evidence is shown as a limit, not filled in with an assumption.
Greed Score status
The numeric score is withheld while the method is calibrated. It will not appear as zero, partial, or prorated when a component lacks evidence.