Methodology & Disclosures

Where Ticker Sage's numbers come from, how we handle them, and what we disclose.

What Ticker Sage is (and isn't)

Ticker Sage is an independent publication. It offers general, impersonal education about public companies: the same content for every reader, published on a regular schedule. Nothing on the site is investment advice or a recommendation to buy, sell or hold any security, and nothing is tailored to anyone's finances, goals or holdings. We don't give ratings, price targets, model portfolios, picks or "act now" calls, and we don't answer questions about what any reader should do with their money. Investing involves risk, including loss of the money you put in. If you need advice about your situation, talk to a licensed professional.

Where the numbers come from

• SEC EDGAR. Financial figures come from companies' own 10-K and 10-Q filings, read through the SEC's public XBRL data (data.sec.gov companyfacts and each filing's XBRL file). Every number links to the filing it came from, and the hover text shows the XBRL tag and accession number.
• Fiscal years. We use each company's own fiscal year and name it after the calendar year in which it ends. "FY2025" for Apple means the year ended September 27, 2025; Microsoft's year ends June 30, Nvidia's in late January and Broadcom's around November 1. Each page says which.
• Annual vs quarterly. Annual figures come only from 10-K filings, because some 10-Qs also report trailing-twelve-month totals. "Last quarter" compares the latest 10-Q's three-month figures with the same quarter a year earlier, as reported in that 10-Q.
• Different kinds of companies. Banks and conglomerates don't report the same lines as other companies. For JPMorgan Chase we show total net revenue (net interest income plus noninterest revenue), deposits and assets; for Berkshire Hathaway, total revenues including insurance premiums and investment income. Each page explains what its numbers mean.
• Missing numbers. If a number isn't cleanly available in the filing data, we leave it out and say so on the page. We don't estimate, retype or fill gaps.
• Derived figures. Percent changes and shares of total are calculated from the filed numbers. "Total debt" adds the balance-sheet debt lines each page names (for example commercial paper plus the current and non-current portions of long-term debt).
• Share prices. Not shown yet. When added, they will come from a licensed market-data provider named on every page, with the time of the price.
• Refresh. Company pages are updated after each new 10-K or 10-Q, and each shows the date it last changed. Before anything is published, its figures are matched against the SEC data and the filing text and its source links are tested.

Bull and bear cases

Company pages list points that optimistic and pessimistic investors commonly raise, each tied to a source, side by side. We don't weigh them or say which side is right.

Holdings and trading rule

• Every company page and every filing news note states whether the editor holds that stock, with the date the statement is as of. It is updated whenever the editor's position changes.
• The editor does not buy or sell a covered stock from 3 days before to 3 days after a company page about it is published or substantively updated.
• Filing news notes are factual summaries of public SEC filings. They carry the holdings disclosure only; the trading window does not apply to them.
• If Ticker Sage itself ever holds a covered stock, that is disclosed the same way.

Money: ads, affiliates and sponsors

• Ticker Sage may earn money from ads, affiliate links and newsletter sponsorships. Coverage choices are made before and apart from any of these.
• Affiliate links are labeled right next to the link, saying we may earn a commission. They never appear inside a company's analysis.
• Ads and sponsored items are clearly labeled. Sponsors don't see, pick or approve coverage.
• We never accept payment from a company, or anyone acting for it, to write about its stock. If that policy ever changed, the payer and amount would be disclosed on the page, as securities law requires.

Corrections

If a number or statement is wrong, email corrections@tickersage.com with the page and what needs fixing. We'll correct it, note the correction and date at the bottom of the page, and log it here.

Corrections log

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