The Fundies

The Fundies (Download MS Word file)

Income statement analysis

Sales growth

Unit vs. dollar

Sales quality

Revenue recognition

Customer financing

Other

Seasonality

Earnings quality

Capitalization of expenses

Operating margins

Net margins

Stock options

Pensions

Anomalous tax rates

Other

Other

Balance sheet analysis

Debt load and maturity schedule

Value of unexercised options

Pension funding

Accruals

Returns and rebates

Warranty

Doubtful accounts

Inventory obsolescence

Environmental reserves

Legal reserves

Deferred tax valuation allowances

Other

Inventory trends (DOH)

Receivables trends (DSO)

Long-term or unbilled receivables

SPEs and other off-balance sheet items

Composition of marketable securities

Cash flow analysis

Operating cash flow and net income trends

Free cash flow and net income trends

Capital investment relative to depreciation

Cash taxes paid relative to tax accrual

Footnotes

Legal issues

Social concerns

Growth indicators

Guidance

Backlogs

Deferred revenue

Macro-economic factors

The proxy statement and other issues

Director independence

Compensation of directors and officers

Hurdles for incentive pay

Related party transactions

Other

Industry analysis

Industry growth

Market share and trends over time