Every piece we have published — valuations, the Pakistani economy, and the data behind the numbers. Newest first.
-
Story vs. Spreadsheet: The Battle for High-Growth Tech Valuations
In high-growth tech, intrinsic DCF models and narrative-driven market pricing rarely agree. The framework that reconciles them — and the three questions every analyst must ask before assigning a value.
-
THE FINAL FRONTIER OF FINANCE
Inside the $1.77 Trillion SpaceX IPO For years, the financial world treated a public listing of SpaceX as a distant, borderline mythical event. Elon Musk frequently insisted that his aerospace powerhouse would remain private until humanity was firmly on the path to colonizing Mars. The paradigm has officially shifted. Moving with staggering speed following a…
-
What Pakistan’s Rate Hike Means for Your Savings Account and Your Loans
The SBP raised rates in April 2026. The effect on your fixed deposit, savings account, and floating-rate loan is real — but the timing is not what most people expect.
-
What a Company Is Really Worth: DCF, in Plain English
A discounted cash flow values a business on the cash it can generate, not the prevailing narrative — the logic in plain terms, and the three assumptions that decide the answer.
-
Why Pakistan’s Central Bank Raised Rates When the Market Expected a Cut
The SBP raised its policy rate by 100 basis points in April 2026 — surprising a market that had priced a hold. The reasoning runs deeper than the headline inflation number.
-
CPEC 2.0: What Phase Two Actually Means for Pakistan’s Economy
The China-Pakistan Economic Corridor has completed 43 projects worth $24.7 billion under its first phase, which focused heavily on power generation and road infrastructure. Phase Two, now fully underway, is a different kind of programme — less about megaprojects and more about industrialisation, supply chain integration, and converting completed infrastructure into productive economic activity. Whether…
-
How to Read a Balance Sheet: A Practical Guide for Pakistan Investors
A balance sheet is a snapshot of what a company owns, what it owes, and what is left over for shareholders at a single point in time. Every listed company on the Pakistan Stock Exchange publishes one quarterly and annually. Most investors skip past it to the income statement. That is a mistake — the…
-
Pakistan’s External Debt: $138 Billion, and Who Holds It
Pakistan’s total external debt and liabilities stood at approximately $138 billion as of late 2025, according to State Bank of Pakistan data. Public external debt — the portion owed by the government and public sector entities — reached $91.8 billion as of end-June 2025, a 6% increase year-on-year. Understanding the structure of that debt —…
-
What Pakistan’s Real Interest Rate Actually Tells You Right Now
Two numbers define Pakistan’s monetary moment. The State Bank of Pakistan’s policy rate stands at 11.5% following a 100 basis point hike in April 2026. CPI inflation, as measured by the Pakistan Bureau of Statistics, was 11.7% in May 2026. The arithmetic is simple: Pakistan’s real interest rate is approximately −0.2%. Essentially zero. For an…
-
The KSE-100 at 170,000: Cheap or Just Cheap-Looking?
The KSE-100 index recently hit an all-time high of 170,719 points. In PKR terms, the index has delivered extraordinary returns for investors who held through Pakistan’s 2023 crisis period. The question now is whether the index is still a value play — or whether the easy money has been made. Where the P/E sits The…
-
Pakistan’s Tax-to-GDP Problem: Why 10.6% Is Still Not Enough
Pakistan’s Federal Board of Revenue collected Rs 11.744 trillion in FY2025 — a record figure and a 26.3% jump from the Rs 9.299 trillion collected in FY2024. The headline number looks like progress. The underlying ratio tells a harder story. Tax revenues as a share of GDP reached 10.6% in FY2025, up from roughly 8.5%…
Bloom Capital Review 