Analytics Methodology & Data Policy

Metrics are collected from public issuer filings, primarily Form 10-K, Form 20-F, annual reports, or equivalent issuer disclosures.

Each row in the financial metrics dataset keeps sourceUrl, sourceType, sourceNote, currency, unit, fiscalYear, and periodEnded where available. Source notes document whether values are reported directly in the filing or computed from comparable line items.

Figures are presented as extracted and structured for analysis; this documentation does not claim perfect completeness or freedom from transcription error.

• Revenue: reported top-line sales, net sales, or revenue for the fiscal period, as labeled in the issuer filing.
• Gross profit: reported gross profit when disclosed; otherwise computed from comparable filing line items (for example, net sales minus cost of sales).
• Operating income: operating income or operating profit (or closest comparable filing subtotal) for the period.
• R&D expense: reported research and development expense, or engineering / research and development costs when separately disclosed.
• CapEx: capital expenditure or the closest comparable cash-flow line item; stored as a positive magnitude in the dataset.
• Revenue growth: year-over-year change in revenue for the same issuer and fiscal-year convention.
• Margins and intensities: ratios such as gross margin, operating margin, R&D intensity, and CapEx intensity are calculated from stored filing figures (for example, operating margin as operating income divided by revenue, when both are present).

Revenue and other monetary amounts are displayed in each issuer's reporting currency.

No foreign-exchange conversion is applied unless a specific output explicitly states otherwise.

Fiscal year labels follow issuer reporting conventions.

Cross-company comparison in the active Profit Capture vs Capital Burden view relies primarily on ratios, not on ranking absolute revenue across currencies. The current comparison layer includes eight issuer-level nodes.

Project fact: TSMC reports in TWD, ASML in EUR, and most U.S. issuers in USD—reflecting filing currency, not a consolidated FX policy.

• Evidence profile: a single-company, filing-based, issuer-level evidence page with preserved source trail and metric context.
• Comparison view: a selected subset of issuers compared on a shared metric set under explicit boundaries.
• A company can have a published evidence profile without being included in every comparison view across the broader analytics portfolio.

The AI Infrastructure Economics project currently has eight published company evidence profiles. The active Profit Capture vs Capital Burden comparison is an eight-node view across those issuer-level profiles.

Current financial metrics are issuer-level unless a specific field or page explicitly states otherwise.

Issuer-level metrics describe business-model economics; they do not automatically isolate AI-specific revenue unless the issuer reports such a segment or line item.

Segment-level decomposition is a planned analytical upgrade, not the default interpretation layer.

AI exposure descriptions elsewhere in the hub are qualitative bridges from public filings and business descriptions—they are not precise AI revenue estimates unless the issuer discloses comparable figures.

Workflow labels used in project data and tooling:

1. Collected — data has been extracted from issuer filings and stored in the project dataset.
2. Reviewed — raw values, formulas, source links, and filing notes have been checked against source documents within the project's review process.
3. Comparison-ready — a reviewed issuer row is included in an active comparison view under the current comparison rules.

Status labels are project workflow terms, not external audit opinions.

• CM Terminal Analytics is descriptive business analytics.
• It does not provide investment advice.
• It does not recommend buying or selling securities.
• It does not estimate target prices or forward returns unless an output is explicitly labeled as a modeling exercise.
• It should not be read as a substitute for professional financial advice.

• Evidence library: eight published company profiles.
• Current comparison: eight-node Profit Capture vs Capital Burden view.
• Future analytical upgrades: segment-level bridge tables, an AI CapEx transmission map, and additional infrastructure nodes beyond the current eight-profile set.