Beware of Seemingly Reasonable P/E’s on Growth Tech Companies

Pop Quiz: Do all technology companies expense stock-based compensation in their financial statements? Perhaps more importantly, do sell-side analysts include such expenses in their quarterly earnings estimates, on which every quarterly report is judged by Wall Street? Given that stock-based comp has been a hot button accounting issue for a couple of decades, and the… Continue reading Beware of Seemingly Reasonable P/E’s on Growth Tech Companies →