Revenue$648,125M
Cost of sales$490,142M
Gross profit$157,983M
Operating exp.$129,400M
Operating inc.$28,583M
Net income$15,511M
Diluted EPS$1.91
THESIS
your notes
7
MGMT
proxy · def 14a
24
TRANSCRIPTS
earnings calls
4,212
DIV YIELD
1.2%
fwd
DEF 14AAVGO
INDUSTRY
reports · ibis
482
Revenue$648,125M
Cost of sales$490,142M
Gross profit$157,983M
Operating exp.$129,400M
Operating inc.$28,583M
Net income$15,511M
Diluted EPS$1.91
DEBT/EBITDA
1.4×
fy24
Revenue$648,125M
Cost of sales$490,142M
Gross profit$157,983M
Operating exp.$129,400M
Operating inc.$28,583M
Net income$15,511M
Diluted EPS$1.91
BALANCE SHT
auto-extracted
8,219
DEBT/EBITDA
1.4×
fy24
Revenue$648,125M
Cost of sales$490,142M
Gross profit$157,983M
Operating exp.$129,400M
Operating inc.$28,583M
Net income$15,511M
Diluted EPS$1.91
FCF MARGIN
12.8%
ttm
EV/EBITDA
14.2×
ltm
DEF 14AHD
10-QAAPL
TRANSCRIPTS
earnings calls
4,212
TRANSCRIPTS
earnings calls
4,212
Revenue$648,125M
Cost of sales$490,142M
Gross profit$157,983M
Operating exp.$129,400M
Operating inc.$28,583M
Net income$15,511M
Diluted EPS$1.91
TRANSCRIPTS
earnings calls
4,212
EV/EBITDA
14.2×
ltm
DEF 14ANVDA
8-KTSLA
8-KJPM
MGMT
proxy · def 14a
24
Revenue$648,125M
Cost of sales$490,142M
Gross profit$157,983M
Operating exp.$129,400M
Operating inc.$28,583M
Net income$15,511M
Diluted EPS$1.91
DEF 14ATSLA
CASH FLOWTTM
Free cash flow $15.1B
Operating cash flow $36.4B less capex $21.3B. Cash conversion 0.71×. Capital returned to shareholders: $4.5B dividends + $4.5B buyback.
10-K
JPM
Annual Report
BALANCE SHEETLLY · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
BALANCE SHEETGOOGL · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
10-K
MRK
Annual Report
BALANCE SHEETLLY · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
BALANCE SHEETAVGO · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
BALANCE SHEETBRK.B · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
TRANSCRIPTQ&A
Analyst question — Truist
“Can you size the e-commerce contribution margin gap that remains, and the path to closing it through fulfilment density and 1P advertising?” — Management response: “Roughly 200 bps still to recover; mostly in fulfilment and returns.”
YOUR DESKNOW
Thesis — services-mix re-rate
Walmart's ad + membership flywheel doubles services mix to ~14% of profit by FY28. We model 22.4% IRR vs. street 6.3%; multiple expands as mix-quality is recognized.
PROXY · DEF 14A2024
Compensation discussion
NEO incentive structure tied 60% to operating-income growth and 25% to ROIC, with the remainder linked to long-term TSR relative to the proxy peer group.
ARS
META
Shareholder Letter
S-1
META
Registration
SEC · 8-KFILED
Item 2.02 — Results of Operations
Registrant reported diluted EPS of $0.58 vs. consensus $0.52. Full-year guidance raised: net sales +4.8% to +5.1%, adjusted operating income +9.0% to +9.5%.
BALANCE SHEETMA · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
RESEARCH · MORGANNOTE
Walmart — Overweight, PT $112
We model Walmart's ad business at $7.1B by FY27 (vs. $3.4B today), implying a 28% segment CAGR. Mix shift drives 80–110 bps of consolidated margin expansion through the period.
RESEARCH · MORGANNOTE
Walmart — Overweight, PT $112
We model Walmart's ad business at $7.1B by FY27 (vs. $3.4B today), implying a 28% segment CAGR. Mix shift drives 80–110 bps of consolidated margin expansion through the period.
TRANSCRIPTQ&A
Analyst question — Truist
“Can you size the e-commerce contribution margin gap that remains, and the path to closing it through fulfilment density and 1P advertising?” — Management response: “Roughly 200 bps still to recover; mostly in fulfilment and returns.”
SEC · 8-KFILED
Item 2.02 — Results of Operations
Registrant reported diluted EPS of $0.58 vs. consensus $0.52. Full-year guidance raised: net sales +4.8% to +5.1%, adjusted operating income +9.0% to +9.5%.
BALANCE SHEETXOM · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
PEER COMPSLTM
Multiples vs. mass-merchandise
WMT 26.4× P/E · COST 51.0× · TGT 14.8× · BJ 22.1×. WMT EV/EBITDA 14.2× vs. peer median 13.6×. Premium justified by services-segment growth and capital efficiency.
S-1
NFLX
Registration
BALANCE SHEETAVGO · FY24
Cash & equivalents$9,037M
Inventories$56,427M
PP&E, net$108,762M
Goodwill$28,449M
Total assets$260,823M
Long-term debt$36,132M
Total equity$88,107M
BALANCE SHEETJan 2025
Consolidated assets $260.8B
Cash & equivalents $9.0B · Inventories $56.4B · Goodwill $28.4B · Total liabilities $172.7B · Long-term debt $36.1B · Total equity $88.1B.
BALANCE SHEETJan 2025
Consolidated assets $260.8B
Cash & equivalents $9.0B · Inventories $56.4B · Goodwill $28.4B · Total liabilities $172.7B · Long-term debt $36.1B · Total equity $88.1B.
8-K
LLY
Material Event
ARS
META
Shareholder Letter
MGMT
proxy · def 14a
24
THESIS
your notes
7
MGMT
proxy · def 14a
24
TRANSCRIPTS
earnings calls
4,212
INDUSTRY
reports · ibis
482
INDUSTRY
reports · ibis
482
FILINGS
edgar · 10-K/Q
12,847
INDUSTRY
reports · ibis
482
TRANSCRIPTS
earnings calls
4,212
MGMT
proxy · def 14a
24
TRANSCRIPTS
earnings calls
4,212
BALANCE SHT
auto-extracted
8,219

Democratizing investing.

Institutions have had three things retail investors haven't: aggregated data at a level no human could match, multi-method analysis sophisticated enough to find alpha, and instant execution. Volaren is the first platform to combine all three. Data, analysis, execution — for every investor.

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Multi-method valuation

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Each tool solves one piece. We solve all of them.

Data aggregation
01/05
CapabilityVolarenClaudeBloombergFactSetCapIQFiscal AISchwab/Robinhood
Years of historical financial dataPP
Real-time prices across multiple tickers
Earnings calendars + insider trades + analyst estimatesPPP
Segment-level KPIs
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