Editorial standards

Start with the original sources

We use company reports, financial statements and filings submitted to regulators. We check who published each document, when it appeared and which period it covers. When we report a claim made by management, we make clear that it is the company’s view.

We keep the source documents and our checks in an internal editorial file. In an article, we identify the relevant report or announcement when it helps explain a claim.

Make fair comparisons

Accounting rules affect how companies report profit. We distinguish results prepared under recognized standards, such as U.S. GAAP or international IFRS, from adjusted figures chosen by the company. These adjusted figures, often called non-GAAP measures, leave out certain costs or gains. We explain which adjustments matter.

We check the currency, units and periods before comparing figures. Three months of sales cannot be compared directly with nine months of sales. If a company changes how it defines a figure, we explain what that means for the comparison.

Calculations must be checked against the original numbers. That includes percentage changes and profit margins, which show how much of a company’s sales it keeps as profit. A number that looks reasonable is not enough.

Separate news from analysis

News explains what happened and why it matters. Analysis looks more closely at what it could mean for the business. We label analysis and distinguish our conclusions from reported facts and forecasts. We do not promise investment returns or present a forecast as a certainty.

Disclose relevant interests

We choose stories for their value to readers. A company does not have to approve our coverage. We may ask it to check a fact or respond to a question, but it does not control the article.

Before publication, the author and publisher must check whether they hold shares in the company or have a paid or other relevant financial relationship with it. Each article explains any relevant interests. We must check the facts before saying that there are none.

Ticker Byline is published by Kiofa B.V. Its founder, Farshad Bashir, also works as a tax adviser. If that work creates a relevant relationship with a company we cover, we must disclose it. Our articles do not provide personal investment advice.

Keep responsibility with the editor

The editor is responsible for what we publish. Sources, figures, wording and financial interests must be checked before an article goes live. When several documents support the same company announcement, we read them together.

Explain important corrections

We keep the original publication date and add an update date when the content changes. If we correct an error that affects the meaning of an article, we explain what was wrong and what has changed. Read our corrections policy.