February 22, 2017

UAFRS vs As-Reported Weekly Highlights for February 22, 2017


Each week, Valens focuses on several companies that were analyzed in the prior week, where material distortions caused by as-reported GAAP accounting need to be corrected to understand a company’s economic fundamentals.

Company Specific Highlights & Insights

NetEase, Inc. (NTES)
Excess Cash Distortion

Altria Group, Inc. (MO)
Goodwill Distortion

Facebook, Inc. (FB)
R&D Expense Distortion

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