Trivago's Unreported Expenses Are Today's Filing Season Find

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About: trivago N.V. (TRVG)
by: David Trainer
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Summary

Forget all the "earnings season" analysis you read last month. The real earnings season (annual 10-K filing season) is happening right now.

From March 8 research, our analysts parsed 72 10-K filings and collected 4,768 data points. In total, they made 1,165 forensic accounting adjustments with a dollar value of $552 billion.

These adjustments allow us to assess a company’s true earnings and return on invested capital.

From March 8, our forensic accounting needle in a haystack comes from a travel website that left some expenses out of its initial earnings report.

Analyst Hunter Anderson found an unusual item in Trivago's (