CFRA hosted a webinar on September 5, where we provided attendees with the exclusive opportunity to learn more about CFRA’s research methodologies regarding non-GAAP metrics.
Led by Emily Grant Turner, CFRA senior analyst, we discussed non-GAAP metrics:
- CFRA's view of common non-GAAP adjustments
- Restructuring charges
- Stock-based compensation expense
- Pension adjustments
- Purchase accounting
- Adjustments to EBITDA
- Examples of how companies can distort their financial results through manipulation of discretionary metrics
- salesforce.com (CRM)
- Broadcom (AVGO)
- Oshkosh Corporation (OSK)
- T-Mobile Us Inc (TMUS)
- Pandora A/S (PNDORA-DK)
- Domino’s Pizza Enterprises (DMP-AU)
- Williams-Sonoma (WSM)
- Techniques for modeling and valuation when using certain non-GAAP adjustments
Presented by:
Emily Grant Turner, Senior Analyst, CFRA
Moderated by:
Giles Flower, Head of Global Institutional Sales, CFRA