Corrections
Errors we have found in our published pages and data, what was wrong, and how we fixed them. Newest first.
The Buildout is built by one person using agentic AI tools, and it gets things wrong. When we find a mistake that readers could have seen, we fix it and record it here with the date of the fix. If you spot something wrong, please tell us.
Site description claimed “live valuations”, and the company count was out of date
What was wrong. The site-wide description shown in search results and in link previews said the site offers “live valuations”, and our guide for AI assistants (llms.txt) described a “valuation model” on company pages. The Buildout does not publish valuations, fair values or price targets. The site-wide description also said we cover 523 companies; we have covered 524 since New Era Energy & Digital (NUAI) was added on September 23.
What we changed. The descriptions now describe what the site actually contains, and the company count is read from our company list instead of being typed by hand. (change 8ec0ab0c8)
Some prices were stuck or missing because of a share-count check
What was wrong. A check that compared our share counts with our market-data provider was allowed to hold back a company’s price. Amphenol (APH) stayed at its pre-split price of $163.99, and New Era Energy & Digital (NUAI) showed no price. Share counts had also not been refreshed since July 29.
What we changed. Prices are never held back by our share count any more. Market cap is the displayed price times the latest share count we have checked against SEC filings, and share counts are refreshed daily. (change 0bc028cc6)
Company pages showed our earlier analysis instead of the latest quarter
What was wrong. From August 29 to September 4, 444 of 523 company pages showed our earlier analysis (written before the companies’ Q2 results) instead of the updated version. A restore of the site’s files had put back an older copy of the pages.
What we changed. All company pages were rebuilt from the current analysis, and the built pages are now saved with every change so an older copy cannot come back. (change 5087d9e6e)
Trailing-twelve-month EBITDA and free cash flow were overstated
What was wrong. The “TTM” column of the Annual Summary table on company pages added up every past quarter we had instead of the last twelve months. For example, NVIDIA showed TTM EBITDA of $405.2B next to TTM revenue of $303.0B; Vertiv showed $8.2B (correct figure about $2.5B) and AAON $1.6B (about $320M).
What we changed. The column now uses the trailing-twelve-month figures directly, and all company pages were rebuilt. (change 042862d6c)
Two recaps for the same SPX Technologies quarter
What was wrong. SPX Technologies (SPXC) had two earnings recaps for the same fiscal quarter, one labelled a beat and one in line.
What we changed. The duplicate was removed. (change 042862d6c)
Wrong market caps and P/E ratios for 25 companies
What was wrong. Share counts taken from SEC data were used even when they were years old, from before a stock split, or distorted by a spin-off (for example KLA’s count was from before its stock split, and DuPont’s was about three times too high after its spin-off), and for companies with two share classes only one class was counted. That made market cap and P/E wrong for 25 companies.
What we changed. Share classes are now added together, and a share count that puts market cap more than 30% away from the market’s own figure is replaced. (On September 23 this rule was refined so that a recent SEC filing showing more shares — new shares issued — is kept.) (change e3d485248)
See also: About The Buildout.