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Building Earnings Quality Measures with Calcbench Data

Earnings quality — the question of how closely a company's reported profit tracks the actual cash moving through the business — is one of the oldest and most durable ideas in fundamental analysis. When earnings run consistently ahead of cash flow, it's often a signal worth investigating further; when the two move together, it's generally a reassuring sign. With standardized financial data available through the API, the Multi-Company page, or the Excel Add-in, you can construct earnings-quality screens ranging from straightforward to fairly sophisticated — and apply them across the entire market at once. To illustrate the range, we built two versions ourselves. Two ways to measure the same idea The simple version: cash flow relative to net income. Divide operating cash flow by net income for a given period, and you have a quick, intuitive gut-check. A ratio well above or below 1 is worth a second look. It's easy to explain and easy to compute — but ...
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Update: 133 firms and $20.3B in Tariff Refunds

Since our last update, we've added 28 companies to the list, though most of that reflects catching up on research into filings from July and early August rather than new activity. Companies that actually reported in the last week or so include American Eagle Outfitters ($179M), Academy Sports and Outdoors ($83.7M, via a Participation Agreement that pre-sold a portion of its claim to a third-party buyer), Caleres ($55.6M), Destination XL Group ($4.6M), J.Jill ($18.4M), Lovesac ($20.3M), ChargePoint Holdings ($6.1M), and Petco ($6.8M). The total has grown from $19.3 billion across 105 companies to approximately $20.3 billion across 133 companies. Companies with a quantified IEEPA tariff refund figure identified by Calcbench as of September 10, 2026, listed alphabetically. Total: approximately $20.3 billion. See the main analysis for methodology, sourcing, and the largest recoveries by dollar amount. Company Ticker Refund Amount ...
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Update: 105 firms and $19.3B in Tariff Refunds

Four new companies: Lululemon ($134.5M), PVH ($106.7M), Ross Stores ($253M), Victoria's Secret ($135M) — all filed within the last few days (Sept 1–4). Companies with a quantified IEEPA tariff refund figure identified by Calcbench as of September 4, 2026, listed alphabetically. Total: approximately $19.3 billion. See the main analysis for methodology, sourcing, and the largest recoveries by dollar amount. Company Ticker Refund Amount A.K.A. Brands Holding Corp. AKA $23.2M Abercrombie & Fitch Co. ANF $100M Acushnet Holdings Corp. GOLF $44.5M Advance Auto Parts, Inc. AAP $26M Alarm.com Holdings, Inc. ALRM $14.5M Amazon Com Inc AMZN $640M Amer Sports, Inc. ...
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Full List :101 Firms and their Tariff Refund Amounts

Following Friday's post about Tariff refunds and all the gory details, we thought we would publish the full list of firms that we have found with tariff refunds to date.   We may have missed some firms, but this is a solid list.  And we will continue to add to it.  Enjoy! Full List: 101 Companies Disclosing IEEPA Tariff Refunds (Alphabetical) Companies with a quantified IEEPA tariff refund figure identified by Calcbench as of August 28, 2026, listed alphabetically. Total: approximately $18.7 billion. See the main analysis for methodology, sourcing, and the ten largest recoveries by dollar amount. Company Ticker Refund Amount A.K.A. Brands Holding Corp. AKA $23.2M Abercrombie & Fitch Co. ANF $100M Acushnet Holdings Corp. GOLF $44.5M Advance Auto Parts, Inc. ...
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