TopOne Logic Academy

Company Analysis

Learn to read businesses, financial statements and core valuation measures.

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Lessons in this path

1
Revenue and Profit
The income statement is a ladder — money enters at the top, and every rung down tells you who took a cut.
7 min read
2
Earnings per Share (EPS)
Profit cut into slices — the number P/E stands on, and the two ways it moves without the business changing.
7 min read
3
P/E Ratio
The price you pay for each dollar of earnings — and why a low price isn't automatically a bargain.
7 min read
4
P/B Ratio
Price against the company's net worth on paper — powerful where books mean something, blind where they don't.
7 min read
5
Return on Equity (ROE)
How hard shareholders' money works — and the borrowed trick that can fake the number.
7 min read
6
Profit Margins
The income ladder in percentages — the only fair way to compare a giant with a boutique.
7 min read
7
Company Cash Flow
Profit is an opinion; cash is a fact — reading the statement that's hardest to dress up.
7 min read
8
Introduction to Valuation
Two roads to one question — what is this business worth? — and why both are built on the same math.
8 min read
9
Gross Margin
The purest read on a product's economics — what it costs to make versus what customers will pay.
7 min read
10
Operating Margin
The whole machine's efficiency — and the leverage hiding in fixed costs that makes profits swing harder than sales.
7 min read
11
Free Cash Flow
What's left after the business feeds itself — the cash that actually belongs to owners.
7 min read
12
ROIC: The Compounding Test
How much each reinvested dollar earns — the single number that decides whether growth creates or destroys value.
8 min read
13
Balance Sheet Quality
The stress-test read: can this company survive a bad year — and would its assets survive an honest appraisal?
8 min read
14
Debt and Leverage
Borrowed money amplifies whatever the business already is — the good, the bad, and especially the bad year.
8 min read
15
Growth vs Profitability
The tension every company must price: expand now or earn now — and the one number that referees it.
7 min read
16
Competitive Advantage (Moats)
The five structures that let a business keep earning excess returns while the world attacks them.
8 min read