Research, with its workings shown

What we make

A medal for every company we rate. Five-minute episodes that tell one company's story. And two model portfolios, each with a report that explains every company in it.

Who a company is up against

We compare a company with the businesses that make their money in the same place it does - judged by where the revenue actually comes from, not by the label on the tin. We look as closely as we can while still finding at least five real rivals.

What the price is betting on

Every share price carries an expectation. We work out how fast profits would need to grow over the next five years to justify today's price, and put that next to how fast they are growing now. A price that asks for less than the company already delivers is modest. One that asks for far more is betting on growth that hasn't arrived yet - and that is where the story gets interesting.

How a business has changed

We compare where a company's money came from in July 2023 with where it comes from today, so we can tell you which parts are growing and which are fading. When the numbers only moved because a business line was relabelled, we leave it out rather than tell a story that isn't there.

Our charts and pictures

Every number on a chart comes from our data. Bars start at zero, companies share the same scale, and each chart is checked to make sure it shows what its headline says. Drawings, stock footage and generated pictures are there to explain the story - never passed off as a company's own products or premises.

AI in our production

AI models help us write our scripts and reports, always from our data, and every figure is checked against that data before anything is published. The presenter in our videos is an AI avatar with a synthetic voice, and our videos are labelled as altered content on YouTube.

The model portfolios

The rules are published before they are used, and applied at the end of every month. Nothing is picked by gut feeling. Results from before the live record began are simulated.