Business.
Data. Meaning.

METHOD / 01 · OPEN ARTICLE

One metric is not enough

Fundamental analysis is at the heart of SCC's work. It starts with understanding the business.

Begin with the business model

We examine how a company earns money, how resilient its position is and how it uses capital. Financial metrics help answer these questions when considered alongside the business model and competitive environment.

Go to the sources

We use financial statements and primary company disclosures, including SEC EDGAR filings. It matters not only what the result is, but how it was achieved.

Returns on capital are meaningful in the context of how a company produces its results and whether it can sustain them over time. One metric cannot provide a complete assessment.

Understanding the business helps reveal what lies behind its market price.

Explain the valuation

Our approach draws on value investing: we compare the market price with an estimate of intrinsic value. That estimate depends on assumptions, so a conclusion should also explain the circumstances in which it would need to be revised.

Editorial revision: 25 October 2026. SCC · Our research approach.

METHOD / 02 · OPEN ARTICLE

What supports a grounded conclusion

A research article should make the connection between data and findings clear.

Separate facts from assumptions

We explain professional terminology, distinguish established facts from assumptions and state the limitations of our assessment. This allows readers to understand both the conclusion and the reasoning behind it.

Consider risk

We examine possible adverse changes alongside business prospects. Future results may differ from expectations, and a company's competitive position may change.

A long-term perspective helps put current events in context, but it does not remove uncertainty. Risk therefore remains part of the research.

Keep the context

News matters when it helps explain changes in a company or market. We focus on what is material and give readers enough context to understand the subject. A measured tone keeps attention on the substance.

Editorial revision: 25 October 2026. SCC · Our research approach.