Free
Company and report guides
How to work through an annual report, read a balance sheet, follow the cash flow statement, and tell a genuine change in a business from a change in accounting presentation.
Independent market education, published from Perth, Western Australia
Detailed guides to how the stock market actually works
GreenValley publishes plain-English guides and analysis about listed companies, industry trends and the frameworks investors use to study a business. Our purpose is narrow and deliberate: to help readers understand the market well enough to make their own decisions. We do not make those decisions for you, and we do not tell you what to buy.
Before you read on
What this site provides: general educational information and analysis of publicly available company and market documents.
What it does not provide: personal financial product advice, securities recommendations, buy or sell calls, price targets, or any statement about what you should do with your money. GreenValley is not licensed to provide financial advice and does not hold an Australian Financial Services Licence.
Cost: every guide and article is free to read. Our optional consultation is paid and is scoped and quoted in writing before any work begins.
Operated by: GreenValley, 2742 Elizabeth Street, Perth WA 3824, Australia · +61 665 514 5777 · info@yichetx.com. Last updated: October 15, 2026.
Why we publish this way
Most people who want to understand the share market do not lack access to information. Annual reports, ASX announcements, investor presentations and market data are published free and in enormous volume. What is genuinely hard is knowing how to read them: which numbers carry weight, which sentences in a report are boilerplate, how a company's industry shapes what a healthy balance sheet looks like, and when a widely repeated market claim is simply a marketing line with no document behind it.
That gap is where misunderstanding becomes expensive. A reader who has been told that a low price-to-earnings ratio means a company is "cheap" will make a different decision from one who understands that the ratio is a comparison against earnings that may be forecast, one-off, or adjusted in ways the company chose. Neither reader needed a stock tip. One of them needed an explanation.
So our editorial position is this: explain the mechanics carefully, always show where a figure came from, and stop short of telling anyone what to do with it. Deciding what a business is worth, and whether to own part of it, depends on a person's goals, time horizon, tax position and tolerance for losing money. None of that is visible from a webpage, which is exactly why we do not pretend to judge it.
What we publish and how we check it
Our source hierarchy is fixed, and you can hold us to it. Primary documents come first: annual reports, financial statements, ASX and regulatory announcements, prospectuses and official market notices. Second, reproducible examples we build ourselves, where the workings are shown so you can check the arithmetic. Third, published academic and regulatory material on markets and investor behaviour. Company marketing pages and promotional material are used only to record what a company claims about itself, never as evidence that the claim is true.
When a company's own reporting and a third-party summary disagree, the primary document wins and we say where the difference sits. When two credible sources conflict and we cannot resolve it from the documents, we describe the conflict rather than quietly picking the version that reads better. Every guide carries a publication date and a review date, because corporate reporting standards and market structures change.
The source document is the work
Every figure we explain in a guide is traced back to the report, statement or announcement it came from, and the reference is noted so you can open the same document and check us.
Where we calculate something, we show the inputs and the arithmetic. A worked example with a hidden step is not an explanation; it is a claim asking to be trusted.
Read our editorial policy for the full method, including how we handle corrections and what we will not publish.
What is on this site
Everything below is free to read. No account, no paywall, no email address required.
Free
Market structure explainers
How the ASX works, what the different listing venues mean, how trades settle, what an index actually measures, and how the Australian market differs from the United States and United Kingdom.
Free
Industry and trend analysis
What drives margins and demand in a sector, which public data series matter, and how to read a sector's reporting conventions without being misled by them.
Free
Investment strategy concepts
The ideas behind diversification, time horizon, risk and position sizing, explained as concepts with their trade-offs stated, including the cases where they fail.
Optional and paid
Research-education consultation
A one-on-one session on how to research a listed company from its own disclosures: the order to read documents in, the figures to check first, and where a company's presentation can flatter its own numbers.
This is education about method. It contains no view on any security and no advice on what to buy or sell. Details, pricing variables and the requests we decline are all set out on the services page.
Three things we will not do, under any circumstances
- We will not tell you what to buy, sell or hold. That is financial product advice, it requires an Australian Financial Services Licence we do not hold, and it cannot responsibly be given without knowing your circumstances. If a conversation drifts towards "so should I buy it", our answer is no, and that anyone who answers it for a fee should be licensed to do so.
- We will not manage money or hold client assets. No accounts, no custody, no portfolio management, no performance claims and no model portfolios to copy.
- We will not publish price targets or forecasts of future returns. No one can tell you what a share price will do. Published material that claims otherwise is the single most reliable warning sign in this industry.
Who is accountable for this site
Guides are written and reviewed by Ava Thomas, Editor, reachable at info@yichetx.com. Corrections go to the same address and are noted on the corrected page with a date, rather than edited away silently.
GreenValley is an independent Australian publisher based at 2742 Elizabeth Street, Perth WA 3824. You can call us on +61 665 514 5777 during business hours, or write to us any time. If you want to see how a claim in one of our guides was produced, ask — the source documents behind each published figure are kept on file.
The clearest example of our working method is our guide to reading an Australian annual report, which walks through a real set of financial statements line by line and shows exactly which figures to check against the notes.
- — Site republished for Australian readers with an expanded guides section and updated contact details.
- — Disclosure and disclaimer pages rewritten to state our Australian regulatory position plainly.
GreenValley is published from Perth, Western Australia. Panorama of the Perth CBD and Swan River from Kings Park.
Start reading
Three guides, all free. Each one is built from primary documents and shows its sources.
Guide
How to read an Australian annual report without being misled by it
An annual report is written to be read in a particular order, and the numbers that matter most are rarely on the first page you open. This guide walks through the primary statements, the notes that qualify them, and the five figures worth checking before you form any view about a business.
Explainer
What market data does and does not tell you
PE ratios, dividend yields, broker notes and price targets: what each one is actually measuring, and where the common interpretations go wrong.
Explainer
The ASX explained for investors used to other markets
How the Australian market differs in structure, settlement, reporting cadence and index construction from the markets you may already follow.
Questions readers actually ask
Does GreenValley tell me which shares to buy?
No. We publish general educational information about how markets and listed companies work. We do not give personal financial product advice, we do not recommend or rate specific securities, and we do not publish price targets or buy and sell calls. This is not a limitation we are working around; it is the entire point of the site. Our services page sets out in writing the requests we decline every time.
Is GreenValley licensed to give financial advice in Australia?
No. GreenValley is a publisher of general market information and does not hold an Australian Financial Services Licence. Nothing on this site is financial product advice, and nothing takes into account your objectives, financial situation or needs. If you want advice about your own circumstances, speak to a licensed adviser — and you can check any adviser's licence on the ASIC registers, which are free to search.
What does it cost to read GreenValley?
Nothing. Every guide and article here is free to read, with no account, no paywall and no email required. Our optional research-education consultation is paid, and you will always receive a written scope and price before any commitment. See the services page for how that works.
Which markets do you cover?
We write primarily for readers following the Australian Securities Exchange, because that is the market most of our readers can access directly. We also publish explanatory material on how other major markets are structured, so that Australian readers can follow overseas companies without assuming the rules are the same. Where a guide is specific to one market, it says so at the top.
Do you cover crypto, options, forex or penny stocks?
No. Those areas attract the highest volume of unverifiable marketing claims and sit outside what our small editorial team can explain responsibly. Excluding them is a deliberate editorial choice, not a gap we intend to fill later.
How do you make money if the articles are free?
Through the optional paid consultation described on our services page. The site currently carries no advertising, no sponsored content and no affiliate links. If that ever changes, the arrangement will be disclosed on our disclosure page and marked on the affected content itself. We do not accept payment to cover, avoid covering, or soften our writing about any company.