Reviewing Big Tech Accounts
Looking at the accounts of a handful of major US stocks
Your Instructor
Stephen (Steve) Clapham has been one of the top analysts in the City of London for over 25 years. A rated analyst at top banks like JP Morgan, Steve moved to become a partner and head of research at two multi-billion hedge funds where he was responsible for hundreds of millions of dollars of investments. Now he brings the benefit of those years of practitioner experience to help you improve your investing and analytical skills.
In 2018, Steve set up his training company, Behind the Balance Sheet, and hundreds of professional investors, regulators and corporate analysts have taken his Forensic Accounting Course. Some of the world's top institutions rely on Steve to help their top analysts improve their skills. That expertise is now available to you!
In 2020, Steve's first book, The Smart Money Method, How to Invest Like a Hedge Fund Pro, was published by Harriman House and immediately went to the number 1 slot in various Investing categories on Amazon in the UK and US. It has been enthusiastically received by investors, both professional and amateur.
Course Curriculum
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StartWelcome (10:15)
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Start1 Start with the Audit Report
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Start2 Apple Balance Sheet (7:14)
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Start3 Apple Balance Sheet Detail (4:17)
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Start4 Apple Equity/Other Comprehensive Income (4:44)
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Start5 Apple Cash Flow (8:02)
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Start6A Apple P&L Part I Revenue to Gross Margin (9:43)
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Start6B Apple P&L Part II Gross Margin to EBIT (7:27)
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Start7 Apple Working Capital (3:20)
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Start8 Apple ROIC (2:15)
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Start9 Apple EBIT Margin (1:14)
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Start10 Apple Segmental Revenue (5:36)
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Start11 Apple Accounts Wrap Up (3:02)
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Start1 Introduction (2:37)
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Start2 Market Capitalisation & Enterprise Value multiples (2:24)
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Start3 The Price/Earnings Ratio (4:55)
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Start4 Other Market Cap Multiples 1 (3:39)
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Start5 Other Market Cap Multiples 2 (2:18)
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Start6 Free Cash Flow Measures (2:09)
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Start7 Two Measures for Valuing Markets (2:23)
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Start8 EV Based Measures, Notably EV EBITDA (3:08)
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Start9 Other EV Based Measures (1:00)
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Start10 EV:Sales (2:25)
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Start11 FCF Yield to EV (0:37)
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Start12 Conclusions (2:43)