8
impact
Northwind Foods cuts its full-year sales forecast, citing weaker demand in Europe
NWFD Negative
A lower forecast for the year's sales, the company's main source of earnings.
2h ago · You hold NWFD: 18.2% of your portfolio
US stock research · halal screening included · opens Jan 2027
Invest with knowledge, not noise.
Know what you own, down to the filing.
MYILMEX is stock research that shows its working: figures checked against each company's SEC filing, annual reports read and quoted, and halal screening built in.
01Why MYILMEX
Do the research properly, without losing your evening.
Understand a company in minutes.
Its annual report becomes eight short reads in plain English: how it makes money, what could go wrong, and what management says is next.
Spot trouble before it costs you.
Each stock is scanned for warning signs: profit that isn't turning into cash, interest the profits barely cover, stock piling up unsold.
Everything in one place.
Research, your portfolio, watchlist, news, earnings dates and alerts, so you stop juggling tabs.
Built around how you invest.
Choose value, growth, dividend or index, and each stock page leads with the checks that style relies on.
Shariah-specific analysis per stock.
All five standards side by side, what share of revenue is permissible, eight quarters of history, and purification worked out per share.
Learn as you go.
Terms on the figures are explained where you see them, and the Education Hub is free on every plan.
02The 10-K read
The annual report most investors never open, read in full and quoted.
A 10-K is the fullest account a US company gives of itself, certified by its chief executive and finance chief. Apple's latest runs to about 35,900 words. ILM, the AI in MYILMEX, reads all of it and gives you eight short reads, each claim quoted from the filing and checked against it word for word.
“When Charlie and I read reports, we have no interest in pictures of personnel, plants or products. … Instead, we expect a company's CEO to explain in his or her own words what's happening.”
AAPL · 10-K AnalysisApple 10-K, FY2026, filed 3 Nov 2026 · SEC
The eight reads · choose one to open it
01 / 08
Business Model
What they sell & how they earn
ILM's read
Apple designs and sells hardware — led overwhelmingly by iPhone — and an expanding portfolio of software services (App Store commissions, advertising, subscriptions, iCloud, Apple Pay) that run on top of that installed device base.
Substantially all hardware is assembled by a small group of outsourcing partners concentrated in China, India and other Asian countries, creating deep geographic manufacturing concentration
“Substantially all of the Company's hardware products are manufactured by outsourcing partners that are located primarily in China mainland, India, Japan, South Korea, Taiwan and Vietnam.”
✓ found word for word in the filing
Many critical components — especially advanced semiconductors, memory and storage — come from single or limited sources, with supply constraints and rising costs already biting and expected to worsen
“the Company is experiencing supply constraints and rising costs driven by industry-wide supply-demand imbalances for key components, including advanced semiconductors, memory and storage. …”
✓ found word for word in the filing
02 / 08
Risk Factors
What actually threatens the business
Google Search Licensing Revenue at Risk from Antitrust Remedies
“If implemented, these remedies could materially adversely affect the Company's ability to earn revenue from such licensing arrangements. …”
✓ found word for word in the filing
03 / 08
MD&A — Candour
Straight talk, or spin?
Explicit admission that tariff refunds, not just underlying operations, boosted products gross margin — an uncomfortable one-time item disclosed directly rather than buried
“Products gross margin and gross margin percentage increased during 2026 compared to 2025 primarily due to product mix and tariff refunds, partially offset by higher costs, including memory.”
✓ found word for word in the filing
Candid forward-looking warning that supply cost pressures will worsen, not improve
“The Company is experiencing supply constraints and rising costs driven by industry-wide supply-demand imbalances for key components, including advanced semiconductors, memory and storage. …”
✓ found word for word in the filing
04 / 08
Management Outlook
Where they're taking the company
AI infrastructure investment surge — R&D up 32% in one year
“R&D expense increased during 2026 compared to 2025 primarily due to higher infrastructure-related costs, including investments in artificial intelligence, and headcount-related expenses.”
✓ found word for word in the filing
iPhone Pro premiumisation — betting higher ASPs over unit volume
“iPhone net sales increased during 2026 compared to 2025 due to higher net sales of Pro models.”
✓ found word for word in the filing
05 / 08
Key Measures
How management judges itself
ILM's read
Apple's FY2026 10-K discloses a tightly GAAP-based set of internal performance metrics with no non-GAAP measures.
Segment Net Sales
“The CODM uses segment net sales and operating income information to make certain decisions, such as product and service pricing, and to decide how to allocate resources related to sales activities and marketing investments.”
✓ found word for word in the filing
06 / 08
Auditor & Opinion
Who signed off, and how
Ernst & Young LLP — Clean opinion
“In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company at September 26, 2026 and September 27, 2025, and the results of its operations and its cash flows for each …”
✓ found word for word in the filing
Uncertain Tax Positions: Apple carries $22.5 billion in gross unrecognized tax benefits across multiple jurisdictions. Determining whether each position is 'more likely than not' to survive a tax authority challenge — and how much of the benefit can be recognised — requires highly subjective interpretation of complex domestic and international tax law, making this the most judgement-intensive area of the audit.
“Auditing management's evaluation of whether an uncertain tax position is more likely than not to be sustained and the measurement of the benefit of various tax positions can be complex, involves significant judgment, and is based …”
✓ found word for word in the filing
07 / 08
Off-Balance-Sheet
Obligations below the waterline
ILM's read
Apple discloses more than $117 billion in purchase commitments not recorded as balance-sheet liabilities: $89.7 billion in manufacturing purchase obligations (92% due within 12 months) and $27.3 billion in other purchase obligations covering IP licences, content, distribution rights and capital assets.
Manufacturing Purchase Obligations
“As of September 26, 2026, the Company had manufacturing purchase obligations of $89.7 billion, with $82.7 billion payable within 12 months.”
✓ found word for word in the filing
Other Purchase Obligations (supplier arrangements, licensed content and IP, distribution rights, capital assets)
“As of September 26, 2026, the Company had other purchase obligations of $27.3 billion, with $9.9 billion payable within 12 months.”
✓ found word for word in the filing
08 / 08
Accounting Changes
Policy shifts & red flags
Products Cost of Sales — Tariff Refund Recognition
“The Company has applied for a refund of tariffs paid, following the processes established by U.S. Customs and Border Protection, and has recognized any refunds received as a reduction of products cost of sales.”
✓ found word for word in the filing
ILM's read of what Apple filed, shortened here. It describes the filing; it isn't a view on Apple's shares.
03Deep dives
Five more deep dives on every US stock.
Where the money really comes from.
AAPL · Business FundamentalsApple 10-K, FY2026, filed 3 Nov 2026
$478.83Bnet sales, FY2026
By product
iPhone$254.10B53%
Services$123.30B26%
Mac$37.93B8%
Wearables, Home and Accessories$35.58B7%
iPad$27.93B6%
By region
Americas$198.08B41%
Europe$127.60B27%
Greater China$82.38B17%
Rest of Asia Pacific$39.86B8%
Japan$30.91B6%
Seven plain questions, answered from ten years of accounts.
AAPL · FinancialsApple 10-K, FY2026, filed 3 Nov 2026
- 1What does a normal year look like?
- 2Is the profit real?
- 3How much capital does it need?
- 4Does growth pay?
- 5Moat, investment, or cashing in?
- 6Where did the cash go?
- 7Could it survive a hard year?
Is the profit real?
In FY2026, operating cash flow was 1.10× net income and free cash flow 1.03×; across 10 years the median was 1.24×.
1.10×Operating cash ÷ net income
FY2017FY2026
Among its US industryExample
In the product this line places the figure among US companies in the same industry. The position here is an example, not Apple's.
Example industry position, for display only. The product itself shows real, checked data: there is no mock data in MYILMEX.
Today's price against the company's own ten years.
Example company · ValuationExample figures
31.4×
P/E today
25.2×
10-year median
16.2–31.4×
10-year range
15×
20×
25×
30×
35×
median 25.2×
FY17FY20FY23FY26
Above its 10-year median, and at the top of its 10-year range.
Example figures, for display only. The product itself shows real, checked data: there is no mock data in MYILMEX.
Which big funds bought and sold last quarter.
AAPL · Analyst & Market DataSEC Form 13F · Q2 2026 vs Q1 2026
2,526
funds added
2,902
funds trimmed
95
new holders
84
sold out
Among the 5,995 funds that filed in both quarters, reported 30 Jun 2026.
Biggest buyers
Franklin Resources Inc+20.6M sh
BlackRock, Inc.+18.3M sh
FMR LLC+17.9M sh
SG Americas Securities, LLC+16.2M sh
Biggest sellers
Price T Rowe Associates Inc−40.6M sh
Diamant Asset Management, Inc.−26.5M sh
T. Rowe Price Investment Management, Inc.−8.2M sh
California Public Employees Retirement System−8.1M sh
Five standards, side by side, and what to purify.
Example company · Shariah AnalysisExample figures
Debt against each standard's limit
AAOIFI
vs market value
31.2% / 30% limit
✕ Doesn't pass
DJIM
vs market value
31.2% / 33% limit
✓ Passes
S&P
vs market value
31.2% / 33% limit
✓ Passes
MSCI
vs total assets
22.6% / 33.33% limit
✓ Passes
FTSE
vs total assets
22.6% / 33% limit
✓ Passes
The same company can pass one standard and not another. That's why MYILMEX names the standard on every result.
Purification
£400.00 dividends received× 2.6% impure income= £10.40 to purify
Automated analysis, not a fatwa or religious ruling. Consult a qualified scholar for personal religious decisions.
Example figures, for display only. The product itself shows real, checked data: there is no mock data in MYILMEX.
04Headlines
The news that matters to what you own, first.
Every headline about the stocks you hold or watch is scored from 0 to 10 for how much it could matter, with a sentence saying why. Then it's ranked by how much of that stock you own, so news about your biggest holding comes first.
How the order is worked out
impact × (1 + 4 × your share)
The same rule for everyone, written down. Headlines are collected and scored every 30 minutes. A score and its tag describe the news for the business, never whether to trade on its shares.
Headlines · My holdingsExample headlines
7
impact
Halcyon Semiconductor signs a five-year supply contract with a carmaker
HLCS Positive
A multi-year contract adds revenue the company can already see coming.
5h ago · You hold HLCS: 9.6% of your portfolio
Example headlines about made-up companies, for display only. The product itself shows real, checked data: there is no mock data in MYILMEX.
05Calendars & alerts
Know what's coming before it lands.
Earnings dates for your stocks and 14 market-moving economic releases, on one calendar. Set an alert in a click, choose your notice, and keep it watching after it fires.
Alerts · eight kindsIn the app, and by email if you choose
- Price rises above
- Price falls below
- Earnings coming up
- Insider buying
- Analyst upgrade
- Analyst downgrade
- Halal status change
- Economic release
Earnings coming up · AAPLTry it
Remind me before the report
You'd hear 3 days before Apple reports, every quarter.
Economic calendar14 US releases tracked
- CPI inflationhigh impact
- Jobs report (NFP)high impact
- GDPhigh impact
- PCE inflationhigh impact
CPI inflation, Jobs report (NFP), GDP, PCE inflation, and 10 more.
06Red Flags
The questions an auditor would ask, asked for you.
12 checks on the accounts, 4 on what the annual report itself admits, and two well-known academic models. Here is the scan on Apple's latest 10-K: what came back clean, and what's worth a closer look.
AAPL · Red FlagsApple 10-K, FY2026, filed 3 Nov 2026
Beneish M-Score
Earnings-manipulation model
-2.52
Low likelihood
-40
Altman Z-Score
Distance-from-distress model
10.01
Safe zone
06+
4worth a closer look
- HighInventory vs salesInventory +154.3% vs sales +15.1%
- ModerateAccounting changes
- ModerateOff-balance-sheet items
- MinorManagement candour
12came back clean
- Cash conversion
- Receivables vs sales
- Accruals quality
- Debt load
- Interest cover
- Free cash flow
- Short-term liquidity
- Share count
- Goodwill on the books
- Buybacks vs debt
- Dividend cover
- Auditor's opinion
A screening model, not a verdict: rules-based checks on what Apple filed, and a prompt to look closer, not a judgement on the company or its shares. Sound businesses trip a check for ordinary reasons too.
07Education Hub
Learn the craft as well as the numbers.
Free on every plan, in plain English, and built on the same rules and figures as the stock pages.
144 investing terms, in plain English.
- Operating Cash FlowCash generated by the core business over a period, before investing and financing. Harder to flatter than profit.
- Gross MarginGross profit as a percentage of revenue: how much of each pound of sales is left after direct costs.
- Return on EquityNet income divided by shareholders' equity: the profit earned on the owners' money. Heavy buybacks can inflate it.
Valuation · Financial Statements · Profitability & Returns · Debt & Solvency · Dividends & Income · Market Concepts · Risk & Volatility · Strategy & Style
Seven investors, and how each of them thinks.
- ValueWarren BuffettBuy wonderful businesses at fair prices — then let time do the heavy lifting.
- ValueBenjamin GrahamThe market is there to serve you, not instruct you — and your margin of safety is everything.
- ValueCharlie MungerAvoid stupidity rather than chase brilliance — and when the odds are heavily in your favour, bet big.
- GrowthPeter LynchThe person who turns over the most rocks wins — and ordinary observation is a genuine edge.
- GrowthPhilip FisherFind the rare outstanding company, check it fifteen ways, and then almost never sell.
- IndexJohn C. BogleOwn the whole market at almost no cost, and let the arithmetic work for you instead of against you.
- DividendGeraldine WeissEarnings can be argued with; the dividend cheque either arrives or it doesn't. Dividends don't lie.
Inspired by the investors named — not affiliated with or endorsed by them.
One investor's process, step by step.
- 01Screen the universeStart wide, filter hard.
- 02The Shariah gateThe cheapest check comes first.
- 03Financial health — the auditFive years of receipts, not one good quarter.
- 04Read the 10-KThe company's own sworn account — before anyone's opinion.
- 05What am I paying?A great company can still be a terrible investment.
- 06Sentiment & the streetHear the market's opinion — after you've formed your own.
- 07How I decide, size and plan an exitBuying was only ever half of my process.
Every rule MYILMEX uses, with where it comes from.
- 09The Buffett-inspired ScorecardQuality at a fair price
- 05The Lynch-inspired PanelGrowth at a reasonable price
- 03Dividend SafetyWill the cheque keep coming?
- 05Shariah ScreeningFive methodologies, one question
The number beside each is how many checks it runs; Shariah screening compares five standards.
From the sources to a screening result.
- 01RevelationWhat the sources say
- 02PrinciplesThe principles scholars distilled
- 03The dilemmaThe modern problem: no listed company is perfectly clean
- 04The numbersWhere the actual numbers come from
- 05The standardsWho actually sets the standards
- 06Your partPurification — and what remains yours to do
Educational content, not a fatwa or religious ruling.
08Pricing
Start free. Upgrade when it earns it.
10 full company deep dives a month on the free plan — enough to judge MYILMEX before you pay anything. Plans start in January 2027.
Free
Enough real research to judge MYILMEX for yourself.
£0/ free plan
10 full company deep dives a month
Overview page for any US stock
Halal status under the standard you choose
The Education Hub — all five sections
Pro
The full research desk.
£12.49/ month
Everything in Free, plus
Company deep dives with no monthly limit
5 new AI 10-K analyses a month
Portfolio tracking against the S&P 500
Purification & zakat tracker
Premium
For people who read the filings.
£19.99/ month
Everything in Pro, plus
20 new AI 10-K analyses a month
Management Integrity — an AI read of the proxy statement
Alerts with no set limit, including recurring ones
Try Pro free for 7 days, no card needed. The first 50 people to subscribe keep their founding price.
Prices include any VAT. Paid plans renew until you cancel, with a full refund within 14 days. Every feature and term.
09Questions
The fair questions, answered.
Is this financial advice?
No. MYILMEX shows a company's figures and how they measure against published investing rules. It isn't built to tell you to buy, sell or hold, and it doesn't assess your personal situation. MYILMEX LTD is not authorised or regulated by the Financial Conduct Authority.
Where does the data come from?
Market data from Financial Modeling Prep, Shariah screening from Halal Terminal, and company filings from the SEC's EDGAR system. For US-listed companies, the headline figures are checked against the company's own filing.
What happens when the sources disagree?
The page shows both figures so you can see the difference, and normally uses the filing. If the gap is so large that the two may be measuring different things, it says so rather than swapping one for the other. If a figure can't be found, you see a dash, not an estimate dressed up as data.
Is the halal screening a religious ruling?
No. It's an automated screen under the standard you choose (AAOIFI, DJIM, MSCI, S&P or FTSE), with the ratios shown. It is not a fatwa or religious ruling — for personal religious decisions, consult a qualified scholar.
What do I get for free?
The overview page for any US stock, 10 full company deep dives a month, halal status under your chosen standard, the Education Hub, earnings and economic calendars, a 10-stock watchlist, 2 alerts and a small monthly allowance for Ask ILM. No card needed.
Can I cancel?
Yes. From launch you'll be able to cancel any time, online, from your account. You keep your plan until the end of the period you've paid for, then move to the free plan. Cancel within 14 days of a first subscription or a yearly renewal and you get a full refund.
Knowledge before investing.
MYILMEX opens in January 2027. Join the waitlist and we'll tell you the day it does.