Broadcom free cash flow nearly doubled in fiscal Q3 2026. Yet one closely watched measure of cash conversion moved sharply in the opposite direction. The company reported $13.665 billion in free cash flow (FCF), up approximately 94.55% from the year-earlier quarter. At the same time, FCF divided by GAAP net income declined from 169.66% to … Read more
Apple reported substantially higher net income in fiscal 2025. Yet its free cash flow, calculated from the company’s cash flow statement, moved in the opposite direction. Net income increased 19.50% to $112.010 billion, while free cash flow fell 9.23% to $98.767 billion. Under a consistent free-cash-flow-to-net-income definition, Apple’s cash conversion ratio declined from 116.08% in … Read more
TSMC Q3 2026 earnings are scheduled for October 15, but investors already have an important piece of the quarterly picture: revenue. Taiwan Semiconductor Manufacturing Company (NYSE: TSM) disclosed monthly revenue figures that sum to NT$1,494.243 billion for July–September, approximately 17.6% above second-quarter revenue. The monthly figures are unaudited and should not be confused with the … Read more
A chipmaker can report faster revenue growth, higher gross profit, and a stronger gross margin while generating less free cash flow. Taiwan Semiconductor Manufacturing Company (NYSE: TSM) provided a useful example in the second quarter of 2026. TSMC’s revenue increased 12.0% sequentially, and its gross margin rose from 66.2% to 67.7%. Yet its quarterly free … Read more
A monthly ETF contribution can do more than increase your investment balance. If directed toward positions that have fallen below their intended weights, it can also help correct portfolio drift without selling existing holdings. For investors asking how to rebalance a portfolio without selling, the practical answer is to calculate the portfolio’s target dollar amounts … Read more
Mastercard ROIC can look almost implausibly high when the calculation is built from the company’s FY2025 financial statements. Using a simplified approach, estimated NOPAT of about $15.231 billion divided by average invested capital of roughly $16.240 billion produces an ROIC near 93.8%. That number is useful, but not because investors should treat 93.8% as a … Read more
ROIC vs WACC is one of the simplest ways to test whether a company is creating economic value with the capital it uses. ROIC measures the operating return generated on invested capital. WACC estimates the return demanded by the investors and lenders who supply that capital. The difference between the two is the economic spread. … Read more
AbbVie earnings for Q2 2026 make the company’s post-Humira transition much easier to quantify. Revenue reached $16.990 billion, up 10.2% year over year on a reported basis, but the more revealing change is inside the product mix. Skyrizi generated $5.505 billion of quarterly revenue and Rinvoq produced $2.525 billion. Together, those two products accounted for … Read more
Exact target weights look clean on a spreadsheet, but a real monthly contribution rarely lands on them perfectly when ETFs trade in whole shares and gold trades in fixed units. My October 2026 contribution is a useful example. This is the third month of my monthly DCA portfolio update. The monthly target remains KRW 2,000,000, … Read more
My September 2026 stock portfolio update ended with a +2.24% total return and $0.00 in realized P/L for the month. The account showed brokerage-reported total P/L of +₩393,844, which converts to approximately +$291.13 using a ₩1,352.80-per-dollar snapshot conversion basis derived from the visible KRW totals and USD position rows. The headline return only tells part … Read more