Learning path · 10 steps
Start here: how stocks and companies work
Ten short lessons for first-time investors: what a share is, how companies earn and keep money, and how to read what they file.
By Hardik Bhandare, Checked against filings: , 33 min in all
- 1
The basics · 3 min
How do stocks work? A plain-English guide
What a share is, why companies sell shares and why prices move.
- 2
The basics · 3 min
Revenue, profit and cash flow: what's the difference?
The three numbers every company reports, and why they differ.
- 3
The basics · 3 min
What a margin means: dollars kept per $100
The dollars a company keeps from every $100 it takes in.
- 4
The basics · 3 min
Market cap and P/E in plain English
What the two most quoted market numbers measure, and what they leave out.
- 5
The basics · 3 min
What is the average stock market return?
What an average return means and why it hides years of losses.
- 6
- 7
The basics · 3 min
How to explain a company's business model (with real examples)
Who pays, what they buy and what the company keeps.
- 8
The basics · 4 min
How investing in stocks works: the basics
How accounts, orders, costs and diversification work.
- 9
How to read · 5 min
How to read a 10-K in 10 minutes
Where to find a company's annual report and which sections to read.
- 10
The basics · 3 min
Common business models: subscription, marketplace, ads, hardware
Subscription, marketplace, ads and hardware, each with a real company.
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Disclaimer
For learning only. Cityfort is not a registered investment adviser or broker-dealer and does not recommend buying or selling any security. Prices shown are dated and may be out of date.
Investing in securities involves risk, including loss of capital. Before making any investment decision, do your own research and consider consulting a registered investment adviser or other qualified professional.
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Cityfort publishes general educational content that explains how listed companies work. Cityfort is not registered with the US Securities and Exchange Commission or any state securities regulator as an investment adviser, and is not a broker-dealer or a member of FINRA. Cityfort does not provide investment, tax or legal advice, recommendations, ratings, price targets or any opinion on whether to buy, sell or hold any security. Nothing on the site is tailored to any person's circumstances.
All information is taken from publicly available sources, mainly company filings with the SEC, which are listed on each page with dates. We work to keep it accurate and correct errors publicly, but we do not guarantee that it is complete, accurate or up to date. Any market price or price-based ratio shown is dated, may be out of date by the time you read it, and is included only to explain concepts.
Statements by company management, including forward-looking statements and guidance, are reported as the company's statements, with their date and source; they are not our forecasts. Adjusted (non-GAAP) figures are the company's own measures and are shown next to the official (GAAP) figures.