Meta's "True" ROIC, and Some Notes from Meta and Alphabet's 10-Qs
Meta’s adjusted LTM ROIC is in the mid-50s after excluding $80 billion of construction in progress; that capacity will lower returns as AI capex enters service.
Monday, August 3, 2026
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Floor & Decor 2Q'26: Tentative Green Shoots
Floor & Decor held 2026 guidance after a 2Q beat, with comps improving through June; tariff refunds lifted margins and may fund pricing…
Vistance Networks (NASDAQ: VISN)
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Cematrix posted record Q2 revenue of $18.7 million, up 76%, and $3.5 million of net income, while backlog fell 9% from year-end.
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OTC Markets gives smaller, distressed, and lightly disclosed companies a trading venue outside NYSE and Nasdaq, with lower listing barriers…
This Stock Just Got Cheaper on Better Numbers
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[scuttleslops] ODFL, AMD, INTC, CDNS, URI, VRSK, KNSL, WSO
Old Dominion Freight Line grew Q2 revenue 10.4% and EPS 32.3% as pricing offset lower tonnage, while excess network capacity sets up…
Entravision: Another Whale Has Emerged
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Google’s AI Return on Investment
Alphabet’s $132 billion AI capex produced an estimated 49% post-tax incremental ROIC once only in-service assets are counted, versus a…
MHEYF · long Maha Capital
Maha Capital combines two assets valued at least 2x its pro forma market capitalization, with a catalyst intended to close the discount.
Defending the Enterprise Castle from the Model Layer
Microsoft urges enterprises to keep AI memory, evaluations and orchestration inside their tenant boundary, making frontier models…
Matan on Stitch Fix
Stitch Fix’s rushed Freestyle pivot cannibalized its profitable Fix business, driving active clients below 3.4 million, quarterly revenue…
Meta On the Offense!
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The Biggest Bull Signal On Entravision
Entravision’s lost Meta relationship reset its business model, setting up a bullish case for the company’s recovery.
Adobe Business History
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The Arithmetic: How a $9 Spanish-Language Broadcaster Becomes a $100 AdTech Stock
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AnaptysBio (ANAB)
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Under The Hood - Rollins ($ROL)
Rollins ($ROL) pairs automatically renewing pest-control contracts with route density and family-business acquisitions, producing 24…
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Investor letters we follow
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