Aerarium Research Learn
Research guides for reading public-company data.
Use this library to move from a company page into the source material behind it: SEC filings, financial statements, revenue segments, ownership disclosures, market data, and operating metrics. The goal is factual context, not investment advice.
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Financial statements
6 guides in this topic.
Reading an income statement
How an income statement works line by line: revenue − cost of revenue = gross profit, gross profit − operating expenses (R&D, SG&A) = operating income, down to net income and EPS — plus the margins each line produces.
Read guide →Reading a balance sheet
How a balance sheet works: assets = liabilities + shareholders’ equity, what cash, long-term debt, total assets, and equity mean, why it is a point-in-time snapshot, and how it connects to book value.
Read guide →Reading a cash flow statement
How the cash flow statement works: operating cash flow, capital expenditure, free cash flow = operating cash flow − capex, dividends and buybacks as return of capital, and why cash flow differs from accrual earnings.
Read guide →How the three financial statements connect — and how we verify our data
How the income statement, balance sheet, and cash flow statement link: net income flows into equity and tops the cash flow statement, depreciation bridges the income statement and cash flow — plus how Aerarium Research builds and checks every chart from SEC filings.
Read guide →Free cash flow explained
A factual guide to free cash flow — how it is built from the cash flow statement, why presentations differ, and how Aerarium Research shows the source.
Read guide →Cash flow versus earnings
A factual guide to why reported earnings and cash flow differ — accruals, non-cash items, and what a gap between profit and cash can and cannot tell you.
Read guide →Metrics & ratios
15 guides in this topic.
Revenue segments explained
A factual guide to revenue segment disclosures and how Aerarium Research uses them to make company business mix easier to inspect.
Read guide →Reading company KPIs
A factual guide to operating KPIs — the company-specific metrics in filings, why they are not standardized, and how Aerarium Research surfaces them.
Read guide →Profit margins explained
A factual guide to gross, operating, and net margin — how each is calculated from the income statement and why margins are only comparable in context.
Read guide →Valuation multiples explained
A factual guide to P/E, EV/EBITDA, and P/S — what each ratio compares, why capital structure matters, and why a multiple is never cheap or expensive on its own.
Read guide →Earnings and forward guidance
A factual guide to reported earnings versus forward guidance — where each comes from, why guidance is an expectation rather than a promise, and how to read revisions.
Read guide →Return on equity and return on assets
A factual guide to ROE and ROA — how each measures profit relative to capital, why leverage distorts ROE, and what the two ratios do not tell you.
Read guide →Debt-to-equity and leverage
A factual guide to the debt-to-equity ratio and financial leverage — what they show about how a company is financed, and why safe levels differ by industry.
Read guide →Dilution and share count
A factual guide to share dilution — how options, convertibles, and stock compensation change the share count, and why it matters for comparing per-share figures.
Read guide →Seasonality and comparable sales
A factual guide to seasonal revenue patterns and comparable (same-store) sales — why year-over-year comparisons matter and what comp sales strip out.
Read guide →Stock-based compensation
A factual guide to stock-based compensation, how it appears in company filings, and why it connects cash flow to share count.
Read guide →Working capital explained
A factual guide to working capital, current assets, current liabilities, and the operating cash cycle.
Read guide →Goodwill and intangible assets
A factual guide to goodwill, intangible assets, acquisitions, and impairment charges in company financial statements.
Read guide →Deferred revenue explained
A factual guide to deferred revenue, cash collected before revenue is earned, and why the liability can matter for recurring businesses.
Read guide →Dividends and buybacks
A factual guide to dividends, share repurchases, and how companies can return capital to shareholders.
Read guide →Book value and tangible book value
A factual guide to book value, tangible book value, and balance-sheet net worth measures.
Read guide →SEC filings
4 guides in this topic.
Reading an SEC 10-K
A factual guide to the core 10-K sections investors use for company context: business description, risk factors, MD&A, financial statements, and segment disclosures.
Read guide →Reading a 10-Q
A factual guide to quarterly SEC Form 10-Q reports, how they differ from annual 10-K filings, and what readers can inspect first.
Read guide →Understanding 8-K filings
A factual guide to SEC Form 8-K current reports and the material company events they can disclose between quarterly filings.
Read guide →S-1 and the IPO prospectus
A factual guide to Form S-1 registration statements and the disclosures companies provide before a public offering.
Read guide →Ownership & insiders
5 guides in this topic.
How to read a 13F filing
A factual guide to 13F filings, what they show, what they omit, and how Aerarium Research turns them into holder and overlap views.
Read guide →Institutional vs insider ownership
A factual guide to the difference between institutional holder data, insider transaction data, and activist ownership disclosures.
Read guide →Insider transactions and SEC Form 4
A factual guide to Form 4 — who must file, what insider buys and sells disclose, and why a single transaction rarely explains itself.
Read guide →Proxy statement DEF 14A
A factual guide to definitive proxy statements, shareholder voting matters, board information, and executive compensation disclosures.
Read guide →Schedule 13D versus 13G
A factual guide to Schedule 13D and 13G beneficial ownership reports for holders with more than 5% stakes.
Read guide →Market data & macro
5 guides in this topic.
Yield curve explained
A factual guide to Treasury yield curves, common spread measures, and how Aerarium Research presents macro context without turning it into a forecast.
Read guide →Short interest and fails-to-deliver
A factual guide to short interest, days to cover, and fails-to-deliver — what each data point shows, how it is reported, and its timing limits.
Read guide →Market cap and float
A factual guide to market capitalization, shares outstanding, public float, and why share-count definitions matter.
Read guide →Trading volume and liquidity
A factual guide to trading volume, liquidity, spreads, and what market activity can and cannot show.
Read guide →Beta and volatility
A factual guide to beta, volatility, and measures of price variability that describe past market behavior.
Read guide →Reference
1 guide in this topic.
Source-first research surfaces
Start with the covered-company directory, then move into financials, segments, ownership, research notes, and macro context. All public pages remain crawlable so search engines and AI assistants can cite the source-backed surfaces directly.