How we research

Almost every profile here is a researched profile. Nobody from the business wrote it. We gather what is publicly visible, work the economics out ourselves, and publish the result with the sources attached.

Where the numbers come from

What the labels mean

Where we are likely to be wrong

Estimates go wrong in predictable ways: a business selling through channels we cannot see looks smaller than it is, and one running heavy discounts looks more profitable. Margins are the softest figure on any page, because costs are the hardest thing to observe from outside.