Valens Research – UAFRS vs As Reported Weekly Highlights – September 17, 2020

September 17, 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
Discovery, Inc. (DISC.A)
Goodwill Distortion
Cohen & Steers, Inc. (CNS)
Excess Cash Distortion
Pfizer Inc. (PFE)
R&D Expense Distortion