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イチロウ
09/20/2026 07:30
Release： 09/20/2026 07:30
Update： 09/20/2026 07:30
イチロウ
Investment style : Fundamental
Investment career : 3-5 years
Investment amount : -
ICHIRO｜Financial Report Anatomy Lab I am a researcher who dissects not the surface numbers of a company, but the underlying structure and truth hidden behind them. I provide a genuine fundamentals analysis that thoroughly reads every detail of a company's financial statements (P/L, B/S, C/F, S/S) and notes, not aiming for a one-shot turnaround tool or short-term speculative trades. ■ Our Lab’s Stance 1. Complete coverage of the four financial statements We unravel the connections among the income statement (P/L), balance sheet (B/S), cash flow statement (C/F), and statement of changes in equity (S/S). 2. Extracting the anomalies and truths hidden in the notes Beyond superficial profit increases or decreases, we delve into notes and fine-grained data to visualize the structural strengths of the business model and hidden risks. 3. Fact-focused with noise eliminated We exclude vague forecasts and hype, conducting objective and logical analyses based on the confirmed facts in the financial statements. ■ Delivery and Sales Content ・Financial Statement Anatomy Reports (latest financial reports of notable companies) ・“Financial Analysis Key Points” explained from zero accounting knowledge (without using complex accounting theories, identifying the core of the financial statements and any inconsistencies) We deliver information for genuine-minded investors and business professionals who want to see the truth behind a company’s financials without requiring difficult bookkeeping knowledge.
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【Intel Financial Anatomy Part 2】: Revenue CF of 8.1B and the Truth of FCF Profitability — A nimble, agile treasury and the true nature of the "pile of work-in-progress (Intel 18A)"

ICHIRO｜Dissection Lab of Financial Statements


In the first installment, we dissected the “110-billion-dollar final deficit paradox” caused by escrow stock derivative impairment tied to U.S. government contracts, and the turn to operating profit in the core business driven by an ASP rise for servers.

In this second part of the series, we will delve into the true lifeline of a companyCash Flow Statement (C/F) and the inventory structure that lies within the balance sheet (B/S)into which we will dive deeply.

In the first half of 2026 (1H), despite posting a net loss of over $14.7 billion on the income statement (P/L), operating cash flow grew to about 2.8 times the prior-year periodto a profit of $8.102 billion (about 1.2 trillion yen)and surged.

We will analyze the breakdown of the enormous ledger losses being reversed, the factors behind the dramatic turnaround from a large loss in the prior year to free cash flow (FCF) profitability, and what the inventory—accounting for about 7/10 of total—“$8.68 billion of work-in-progress (Intel 18A)”—means for business momentum.


Past articles are available here?

【Intel Financial Dissection Part 1】: The Hidden Side of the Final Deficit of $11 Billion — The Escrow Impairment that Turns Losses into Profit as Stock Price Rises