When it comes to financial statements the LAST thing I look at is profits ... if I look at it at all.
In order of what I look:
1. Revenue
2. Operating cash flow
3. Capex and/0r IP
4. Free cash flow
5. Change in Working capital
6. Change in equity
7. Debt/cash levels
8. Other intersting tidbits in Cash flow and Balance sheet
Then EBIT and maybe NPAT but I usually have a good idea how the company is performing without looking at NPAT
Ann: Appendix 4E and Annual Report 2022, page-16
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