Quality
Durable brands, efficient capital, steady returns. Businesses that still compound a decade from now.
We run a deep financial analysis on close to a thousand of the world's companies: quality, real economic profit, price. Then we publish the reasoning behind every number. One tool instead of the four you're paying for now.
Price is what you pay. Value is what you get.
That gap, between what a company is worth and what the market charges for it, is the whole job. Our model exists to measure it.
Why Returnolio
How it works
The whole product in 16 minutes: how we go from the whole market to ten, and what each part of the app does for you.
Durable brands, efficient capital, steady returns. Businesses that still compound a decade from now.
We charge earnings for the full cost of capital, R&D treated as the asset it is. What's left is value actually created, not just booked.
Price is what protects you when you're wrong. We only get interested when it sits a real margin below our fair-value estimate.
Cheap and good can sit dead for years. Momentum shows whether the market is starting to agree, measured against risk. It sits on every page, right beside the fundamentals.
What insiders and well-known investors are doing, right next to each name. A different question from the fundamentals, asked on a different clock.
The momentum picks inside the monthly Top 10: companies riding visible market strength, included when conditions are favorable, and always badged.
A strong company in a deteriorating setup is still a problem. We watch the news flow and the macro backdrop so nothing blindsides the analysis.
The last word is human. We read the filings and listen to the earnings calls before any name earns a place in the Top 10.
“These pillars together give us the full picture. A company might have strong fundamentals but no margin of safety. Or a great economic profit story but failing momentum. We put it all together, so you can too.”
It reads the filings and writes the words. It never touches the score.
973 companies, every filing, every quarter.
Every earnings call, transcribed and recapped.

From the headlines and the numbers, dated.

Your own assistant, reading our live data.

The score is arithmetic on filed data.

Every edition is read before it goes out.


The price
The black line is what the market charges for the company over the years.
Our fair-value lines
Two independent models, one industry-relative and one historical, so a single quirky input can't swing the verdict. Hover any point in the app for the exact numbers.
The margin of safety
Price far above the zone reads expensive. Price below it is the discount you buy at, and we publish the assumptions behind it.
The growth check
The strip below tracks revenue growth against the industry median. Growth names get judged on growth drivers, value names on steady cash, never one ruler for both.
Bring your own AI
MCP is the plug. Your assistant uses it to read Returnolio live, instead of guessing from what it remembers.
Apple scores 56.2 out of 100. Earnings power leads at 88.5: it earns well above its full cost of capital. Quality is 59.9, momentum 79.1. The price is what holds the headline back: at the bottom of the value scale, no discount left.
Open Apple's full analysis in Returnolio
Information only, not investment advice. Figures as of 12 September 2026.
How does Apple score on your pillars?
Scripted examples with real figures as of 12 September 2026. The connection is read-only: it can never trade or change your account. Your AI reads real data but can still misread it, and nothing it says is investment advice.
Pricing
Start free and upgrade only when it earns it.
Founding prices. They will not stay this low.
For first-timers kicking the tyres - all the macro and market data, and a taste of the research.
Free forever
For readers who want the monthly research written up for them, without doing their own screening.
billed yearly, save 36%plus VAT or sales tax for your country
For hands-on investors who run their own deep analysis on any stock in the universe.
billed yearly, save 20%plus VAT or sales tax for your country
For power users who want everything uncapped, with priority alerts - no monthly analysis limits.
billed yearly, save 13%plus VAT or sales tax for your country
Want the exact limits? See every plan side by side
| Feature | Free | Core | Analyst | Pro |
|---|---|---|---|---|
| Monthly Top 10 & position disclosure | ||||
| Monthly Top 10 write-ups, narration and report PDF | 2 editions behind | |||
| Our disclosed positions & their history | 2 editions behind | |||
| Macro & market data (free for everyone) | ||||
| Market Overview (global heatmap, sectors) | ||||
| Geopolitical threats map | ||||
| Commodities, forex & crypto prices | ||||
| AI market summary (daily briefing) | ||||
| Economic calendar & events | ||||
| Deep analysis & screener | ||||
| Full stock analysis / month (RTEP fair value, valuation, sentiment, analyst, geo revenue, AI summary) | 1 | 5 | 30 | Unlimited |
| Stock screener (Universe) rows | – | 25 | 200 | Unlimited |
| Compare tool | – | 3 tickers | 3 tickers | 5 tickers |
| Watchlist tickers | 5 | 25 | 100 | Unlimited |
| Alerts & follows | ||||
| Follows: companies, investors, IPOs & events | 1 | 3 | 10 | Unlimited |
| Top 10 & Moonshot alerts | ||||
| Smart-money alerts (insiders, 13F, political) | – | – | 5 | Unlimited |
| Our position disclosures (with each edition) | – | – | – | |
| Daily / weekly email digest | ||||
| Portfolio | ||||
| My Portfolio (manual tracking) | – | |||
| AI portfolio insights | – | |||
| AI connection (MCP) | ||||
| Connect your AI via MCP (Claude, ChatGPT; read-only) | Taster allowance | Starter weekly allowance | 4x Core | Unlimited |
| What your AI can reach through MCP | Free-tier data only | Everything your plan includes | Everything your plan includes | Everything your plan includes |
| Support | ||||
| Email support | Priority queue | |||
Cancel in one click, anytime. No lock-in, no dark patterns.
Proof, not promises
Backtest · 2013 to 2026 · point-in-time
Before a single live pound went in, we ran the model across 2013 to September 2026 using only the data that existed on each date. Every earnings figure is dated to the day it actually reached the SEC, not the quarter it covers. The published list adds one thing the test does not have: a person who reads every name before it goes out.
Point-in-time
Scored with only the data that existed then.
Sealed hold-out
2022 onward stayed locked. Read once, at the end.
Full record
Every year is published, year by year, with its measurement date.
Plain rules
Bought at equal weight, reviewed monthly, no borrowed money.
Backtested results, not live returns, and no guarantee of future performance.
A retrospective backtest on real historical data, net of modelled costs (20 bps round trip), dividends excluded on both sides, the book reset to equal weight at every monthly review. Single years are noisy; the model finished ahead in nine of the thirteen, and all 114 five-year stretches finished ahead. No capital was invested during the test period. Measured on 9 October 2026 on the data as it stood that day; the methodology doc gives the record in full, with its measurement date.
Backtest 2013 to September 2026, log scale: Returnolio Top 10, +2,291% cumulative, vs a 50/50 S&P 500 / Nasdaq-100 blend at +682% and the S&P 500 alone at +420%.
Backtest · 2013 to Sep 2026 · Log scale · Top 10 equal weight, reviewed monthly · Net of 20bps costs · Recorded monthly series · Model v6.0, measured 17 Sep 2026 on the 12 Sep data · Backtested, not a guarantee of future returns
The research runs a real portfolio, and we track what happened to it next to the S&P 500. A backtest can be tuned until it looks good. This one only moves forward.
We don't run a fund, take performance fees, or touch your investments. Subscriptions are our only revenue, so the only money at risk in the research is ours.
Anyone writing about a company should tell you where they stand on it. Our own positions are published alongside the research, so you can weigh one against the other.
Changes to our holdings are disclosed with the monthly edition, after the fact. You're reading what we did and why, not a queue of what to do next.
Blog

11 min read
EBITDA is the profit number companies love to quote. Built step by step from Charter's 2025 annual report: $22.7 billion of adjusted EBITDA, $5.0 billion of free cash flow, and where the rest went.

8 min read
UnitedHealth's Q3 2026 adjusted EPS rose to $4.69 on flat revenue. What drove the margin recovery, the new full-year guidance, and what to watch next.

10 min read
Morgan Stanley grew Q3 2026 revenue and earnings per share, but margins slipped. What the quarter means if you own the stock or a fund that holds it.

9 min read
Bumble is being bought for $6.05 a share in cash, 138% above the unaffected price, and the big holders already signed. What you get and what still has to happen.

9 min read
An earnings report in 15 minutes, on a real one: Coca-Cola's second quarter of 2026. The six places to look, in order, and the four traps, including an adjusted profit lower than the official one.

6 min read
The ten-year Treasury closed at 5.18% on 24 September, its highest since July 2007. The interest coverage ratio tells you which companies feel that. Of 630 we cover outside financial services, 218 earn less than three times their interest bill. How to read the ratio, and why 2.4 is fine for a utility and a warning for an airline.
About us


How it started
One tab had the price, another the financials, a third a forum thread arguing about both. Around tab nine we realised we were paying for four subscriptions and still doing all the actual work ourselves.


The foundation
RTEP measures whether profit actually adds value once you charge a company for all the capital it uses. Accounting profit lies surprisingly often; RTEP was our lie detector, and the whole scoring model grew around it. See how it works.


The lesson
A newsletter we paid for pitched its “highest conviction idea of the decade”. The author didn't own a single share. That gap between what people recommend and what they hold is where early investors quietly lose the most.


The rule we run on
We tested the model on thirteen years of point-in-time data before a single live dollar went in, and the losing years sit published next to the winning ones. Our own positions are disclosed with the research, so you always know who is writing and what they own.
We believe in this enough to fund our own independence with it, and we put the Monthly Top 10 into the lowest paid tier on purpose: anyone curious can check our work for less than a takeaway lunch.

Ten percent of every Returnolio profit goes to causes that compound long after the trades close. We focus on planting trees and protecting water, the kind of slow, patient work that pays off over decades, much like the way we invest. Grow with us, and a slice of that growth goes straight into the ground.
FAQ
Ten long-form company write-ups, published on the first of each month. What the business does, what ten years of numbers say, how the model scored it, and where the case could break. It's the same scoring work we run across 900+ companies, written up properly instead of left as a ranking. Every past edition stays readable, and each one comes with a narration and a report PDF that walk through the analysis.
No, and we're not registered to give any. Nothing here is a recommendation to buy, sell or hold anything. We don't know your income, your tax position, your time horizon or what else you own, and those are the things that decide whether a company belongs in your portfolio. We sell the analysis and the data underneath it. The decisions stay yours.
Every company in the universe runs through the same reading: how good the business is, whether it earns more than its capital costs, how far the price sits from what we think it is worth, and what the market and company insiders are doing about it. Each pillar opens up on the company's page into the sub-metrics behind it, ranked against the whole universe, with every value on the page. They combine into one 0-100 Returnolio score. The top names then get a human review, and ten survive into the edition. We publish what each pillar measures and how we test it. How they combine is our recipe, and it stays ours.
How the Returnolio score is builtReturnolio True Economic Profit, and it is ours. We built it because nothing off the shelf answered the question: after paying for every dollar of capital the business uses, at what that capital actually costs, is there anything left? Debt and equity are charged at the company's own rate, and R&D is treated as the investment it is instead of a cost that vanishes the year it is spent. Plenty of companies report healthy accounting profits while quietly destroying value. RTEP is built to catch exactly that.
How RTEP works, on two real companiesFree is for looking around: all the macro and market data, one full stock analysis a month, and the Top 10 archive up to two editions back. Core adds the current edition with its narration and report PDF, plus our own disclosed positions - $9/mo billed yearly, or $14 month-to-month. Analyst opens the working tools - the screener at 200 rows, compare, smart-money tracking, 30 deep analyses a month - $24/mo billed yearly, or $30 month-to-month. Pro removes every limit and adds priority alerts and unlimited AI usage - $39/mo billed yearly, or $45 month-to-month. Each tier includes everything below it. Those are net prices; VAT or sales tax for your country is added at checkout.
Card, PayPal, Apple Pay or Google Pay, billed monthly or yearly, yearly being the cheaper rate. Prices on this page are net of tax, so VAT or sales tax for your country is added at checkout: 27% in Hungary, 20% in the UK, 19% in Germany, and nothing at all in the US states that don't tax software. You see the exact total before you pay, never after. Past that there's no setup fee, no per-report charges, no upsells inside the app and no cut of your gains. Cancel in one click and your access runs to the end of the period.
The Free tier is for trying us out - take your time there, poke around the data, read a past Top 10 edition, and only pay once you've seen how we work. On top of that, new Core subscribers get a 7-day refund window on their first paid month, and annual plans are refunded pro-rated if you cancel within 30 days of the charge. Cancelling takes one click and your access runs to the end of the period.
New editions and Moonshot flags come with every plan, plus a daily or weekly email digest. Analyst adds smart-money alerts on insiders, 13F filings and political trades for the companies you follow. Pro removes the limits. Our own position changes are disclosed with the monthly edition, after the fact, so nothing lands in your inbox as a live instruction.
We research the big ones and publish our take, and you can follow upcoming IPOs in the app to get alerted around listing. Fresh listings rarely make the Top 10 straight away though: the model wants real filing history before it trusts a name, and that discipline has saved us more than once.
Size is not what gets a company into the universe. It runs from the largest listed names down to small ones, and we judge them all the same way. The Moonshot Detector sits apart from that: it flags companies the main score passes over, and those come in every size, from small caps to some of the biggest companies on the market. It surfaces a handful each month, clearly marked as the high-risk corner of the platform.
A scored page for every company: the Returnolio score with its pillars, fair-value bands on the price chart, ten years of financials, geographic revenue, an AI summary with the bull and bear case. Around that: the screener, side-by-side compare, the macro dashboard with the analyst forecast world map, the smart-money feed, watchlists and the Top 10 hub with every past edition, its narration and its report PDF.
Yes. The app is built mobile-first - check your watchlist on the bus, read a thesis in bed. The heavier workflows like screening 900 stocks are nicer on a big screen, but nothing is desktop-only.
Light and dark themes, full keyboard navigation, screen-reader labels on the data, and a reduce-motion switch that calms every animation - independent of your OS setting. Accessibility issues get treated as bugs, not feature requests; if something blocks you, write to us and we fix it.
Start with the docs: the methodology, the backtest and its limits all live there, in full. Each monthly Top 10 comes with a narration and a report PDF that walk through the ten companies one by one. And we post on YouTube, X, TikTok, Instagram, Threads and Pinterest - the links sit in the footer below.
Get the newsletter: one research story when we have one worth your time. One investing pain, one useful habit, one link. No price targets, no partner offers, and every past issue is readable before you decide.
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