The red-flag ledger

Every open red flag and contradicted management claim across reviewed coverage — 38 flags and 3 contradictions, newest filing first. Each links to the page carrying its arithmetic. Flags mark measurements, not motives: a flag says the numbers moved beyond a stated threshold and the page verified no cause, nothing more.

FiledCompanyKindTheme The findingScore
2026-07-29Microsoft (MSFT)RED FLAGInventory vs revenue paceGap: +31.1pp79/STRONG
2026-07-29Microsoft (MSFT)RED FLAGCash tax vs book chargeDeferred tax asset: -14,213M79/STRONG
2026-06-22Oracle Corporation (ORCL)RED FLAGCapital returned vs free cash flowCurrent year: -0.25×62/MIXED
2026-03-02Salesforce (CRM)RED FLAGCash tax vs book chargeDeferred tax asset: -1,429M74/STRONG
2026-02-26Pfizer (PFE)RED FLAGCash conversion stabilityNet income attributable to common, three years (newest first): $7,771M · $8,031M · $2,119M79/STRONG
2026-02-26Duke Energy (DUK)RED FLAGInterest coverageCoverage: 2.4×59/MIXED
2026-02-26Duke Energy (DUK)RED FLAGCash conversion stabilityNet income attributable to common, three years (newest first): $4,912M · $4,402M · $2,735M59/MIXED
2026-02-26Duke Energy (DUK)RED FLAGCash tax vs book chargeDeferred tax asset: -292M59/MIXED
2026-02-26APA Corporation (APA)RED FLAGEstimate tailwindProduction over the same period: +2.1%29/WEAK
2026-02-26APA Corporation (APA)RED FLAGNon-recurring incomeFinancing costs, net: −$254M, of which $147M is the debt gain29/WEAK
2026-02-26APA Corporation (APA)RED FLAGReceivables & DSOShare of the year's operating cash-flow increase: 92%29/WEAK
2026-02-26APA Corporation (APA)RED FLAGDifferential disclosureMentions of any of the above in Item 7 overview: none29/WEAK
2026-02-26APA Corporation (APA)CONTRADICTSCapital return60% is reachable only by counting the $430M paid to the Egypt minority partner (Sinopec's one-third interest) as a shareholder return. It is29/WEAK
2026-02-26APA Corporation (APA)CONTRADICTSCash generationThe arithmetic is exact; the quality is not. Real cash, collected once. Strip the Egypt release and cash flow grew 2.1%, in line with volume29/WEAK
2026-02-26APA Corporation (APA)CONTRADICTSReservesDrilling replaced 59% of production. The 162% figure needs revisions, mostly the Company re-estimating its own engineering. No replacement r29/WEAK
2026-02-25Nvidia (NVDA)RED FLAGInventory vs revenue paceGap: +46.8pp85/STRONG
2026-02-25Linde plc (LIN)RED FLAGCapital returned vs free cash flowCurrent year: 1.46×82/STRONG
2026-02-25Goldman Sachs (GS)RED FLAGCash conversion stabilityCause verified by this page: no65/MIXED
2026-02-25Goldman Sachs (GS)RED FLAGCapital returned vs free cash flowCurrent year: -0.37×65/MIXED
2026-02-25Bank of America (BAC)RED FLAGCash conversion stabilityCause verified by this page: no53/MIXED
2026-02-25Bank of America (BAC)RED FLAGStock compensation in cash flowShare: 31.7%53/MIXED
2026-02-25Bank of America (BAC)RED FLAGCash tax vs book chargeDeferred tax asset: -1,357M53/MIXED
2026-02-24Merck & Co. (MRK)RED FLAGCash tax vs book chargeDeferred tax asset: -1,048M59/MIXED
2026-02-24Chevron Corporation (CVX)RED FLAGCash conversion stabilityNet income attributable to common, three years (newest first): $12,299M · $17,661M · $21,369M55/MIXED
2026-02-24American Tower (AMT)RED FLAGCash conversion stabilityNet income attributable to common, three years (newest first): $2,530M · $2,255M · $1,483M57/MIXED
2026-02-20Coca-Cola Company (The) (KO)RED FLAGCapital returned vs free cash flowCurrent year: 1.80×72/STRONG
2026-02-19Southern Company (SO)RED FLAGInterest coverageCoverage: 2.2×45/MIXED
2026-02-19Southern Company (SO)RED FLAGCapital returned vs free cash flowCurrent year: -1.03×45/MIXED
2026-02-19Southern Company (SO)RED FLAGCash tax vs book chargeDeferred tax asset: -39M45/MIXED
2026-02-19Sherwin-Williams (SHW)RED FLAGCash tax vs book chargeDeferred tax asset: -122M77/STRONG
2026-02-17United Parcel Service (UPS)RED FLAGCapital returned vs free cash flowCurrent year: 1.34×76/STRONG
2026-02-17Honeywell Technologies (HON)RED FLAGCapital returned vs free cash flowCurrent year: 1.25×73/STRONG
2026-02-13Caterpillar Inc. (CAT)RED FLAGCash tax vs book chargeDeferred tax asset: -496M84/STRONG
2026-02-12Lilly (Eli) (LLY)RED FLAGInventory vs revenue paceGap: +36.4pp68/MIXED
2026-02-11Johnson & Johnson (JNJ)RED FLAGCash conversion stabilityCause verified by this page: no68/MIXED
2026-02-03PepsiCo (PEP)RED FLAGCash tax vs book chargeDeferred tax asset: -139M71/STRONG
2026-01-29Tesla, Inc. (TSLA)RED FLAGCash conversion stabilityNet income attributable to common, three years (newest first): $3,794M · $7,130M · $14,999M77/STRONG
2025-12-18Deere & Company (DE)RED FLAGInventory vs revenue paceGap: +16.1pp71/STRONG
2025-12-18Broadcom (AVGO)RED FLAGCash conversion stabilityCause verified by this page: no72/STRONG
2025-12-18Broadcom (AVGO)RED FLAGStock compensation in cash flowShare: 27.5%72/STRONG
2025-11-13Walt Disney Company (The) (DIS)RED FLAGCash conversion stabilityNet income attributable to common, three years (newest first): $12,404M · $4,972M · $2,354M86/STRONG

Not investment advice. A red flag is arithmetic crossing a stated threshold, with the working shown on the company page. No position is held or expressed.