Valens Research – UAFRS vs As Reported Weekly Highlights – October 22, 2020

October 21, 2020

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
Booking Holdings Inc. (BKNG)
Excess Cash Distortion
Envestnet, Inc. (ENV)
Stock Option Expense Distortion
Merck & Co., Inc. (MRK)
Goodwill Distortion