The Insurer Earning Less on More: UnitedHealth’s Medical Cost Reckoning
For most of the last decade, UnitedHealth Group looked like a machine that printed money the bigger it got. Revenue...
The Margin the Market Won’t Believe
In one breath Disney's net margin has climbed from 2.6% in fiscal 2023 to 13.1% in fiscal 2025, the best...
McDonald’s Is Winning the Value War While Losing the Customer
In one breath McDonald's filed numbers show a business earning roughly 32 cents of profit on every dollar of sales,...
The Headline Said “Cooling.” The Data Said “Complicated.”
In one breath Inflation printed its sharpest monthly drop in six years in June, and financial coverage called it a...
JPMorgan at Its Own Ceiling: What a Record Quarter Tells Us About the Price Tag
The filing arrived on July 14, 2026. Buried inside JPMorgan's Q2 2026 earnings release was a sentence that stopped us:...
The Frozen Market: What Home Depot’s Numbers Say About Housing’s Standoff
For most of its history, Home Depot has been a mirror held up to the American housing market. When rates...
The Grocery Giant’s Quiet Reinvention: What Walmart’s Filed Numbers Say About the American Consumer
In one breath Walmart's filed numbers show net margins climbing steadily, from 1.9% in FY2023 to 3.1% in FY2026, even...
Evidence Sheet: Coca Cola (KO)
The standing BullScope yardsticks for Coca Cola, computed from official filings and refreshed with each new edition.
Evidence Sheet: Delta Air Lines (DAL)
The standing BullScope yardsticks for Delta Air Lines, computed from official filings and refreshed with each new edition.
Evidence Sheet: Costco Wholesale (COST)
The standing BullScope yardsticks for Costco Wholesale, computed from official filings and refreshed with each new edition.
BullScope is an evidence-first investment research publication. Every note starts in the filings: what companies actually report, what the market assumes, and where the two disagree. We read the numbers so you can read the story. Not investment advice.