The company shows two profits: the one calculated by the rules — and an "adjusted" one, with one-time charges stripped out. Restructuring, a lawsuit, a write-down on an acquisition.
MoatLens tip: Once means once. When the same kind of special charge appears five years running, it is not a one-off but part of the business — and belongs in the profit. The most revealing exercise: add up ten years of "one-time" adjustments. If the total approaches a full year's profit, the adjusted figure says little.
In MoatLens this explanation sits right next to the number — one tap away. And you see the ten-year trend instead of a single value.
