Two questions decide every call.
Here’s how we answer both.
Is this a good business? And am I paying a fair price for it? Every number in every report exists to answer one of these two questions — nothing more, nothing hidden.
The Quality Scorecard
Before looking at price, we score the business itself — 18 weighted criteria applied consistently to every company, producing a single transparent score out of 100.
Growth & Market
Revenue growth, industry tailwinds, and whether the company keeps investing in its own future.
Profitability & Margins
Quality of revenue, gross and operating margins, and how they hold up against competitors.
Competitive Moat
20% weightThe single heaviest-weighted factor — because growth means little if a competitor can undercut it.
Financial Strength
Debt structure and capital efficiency — ROIC and ROE, the returns a business earns on deployed capital.
Management & Culture
Depth of the leadership team and how the company treats its people over time.
Cash & Returns
Free cash flow growth per share, and whether capital comes back to shareholders responsibly.
The Valuation Model
A great business at the wrong price is a bad investment. Every valuation blends three scenarios into one probability-weighted Fair Value — not a single guess.
Base, Bull & Bear scenarios
Blended typically at 60% / 20% / 20% into one Fair Value — avoiding the trap of a single perfect forecast.
Country-adjusted discount rate
Reflects where the business actually operates and regional risk factors, not a generic flat rate.
FCF margin trajectory
Projecting how efficiently the business will convert revenue into real cash over the next decade.
Exit multiple & net cash
Grounded in the business’s likely mature economics, adjusted for cash already on the balance sheet.
Because no single discount rate or exit multiple is perfectly right, every report includes a sensitivity table—showing exactly how the estimate moves if assumptions shift. You don’t have to trust the number; you can test it.
Nothing hidden, nothing outsourced
Full transparency, every time
Unlike tools that hand you an opaque rating, every MoneyJourney report shows the full model — every criterion, every weight, every assumption. You can disagree with an input and still trust the process, because you see exactly where the numbers come from.
Where AI actually helps
Some sections — like business descriptions or competitive landscapes — are drafted with AI assistance and expert-reviewed. However, every number in the Scorecard and Valuation model comes exclusively from raw financial data and our proprietary research.
See the Method applied to real companies
Every published report follows this exact structure — same criteria, same weights, same process.