Valens Research – UAFRS vs As Reported Weekly Highlights – April 3, 2019

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

McKesson Corporation (MCK)
Operating Lease Distortion 

USANA Health Sciences, Inc. (USNA)
R&Excess Cash Distortion

Alexion Pharmaceuticals, Inc. (ALXN)
R&D Expense Distortion