Valens Research – UAFRS vs As Reported Weekly Highlights – June 5, 2019

June 10, 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

CVS Health Corporation (CVS)
Operating Lease Distortion

Apple Inc. (AAPL)
Excess Cash Distortion

Microchip Technology Incorporated (MCHP)
R&D Expense Distortion