3. One company and its price

Earnings ripple (RIPL)

RIPL lists the big customers and suppliers of your holdings that report earnings in the next 30 days, with how much revenue links them.

  • 4 min
  • 3 questions
  • Lesson 4 of 4

Why you would care

Whose results next week could move your stock? You own Apple. Cirrus Logic, a chip maker, reports tomorrow. Most of Cirrus Logic's sales go to Apple, so its results and its comments on orders are a sneak peek at Apple's business. Professional investors watch these links all the time. RIPL finds them for you.

The idea from scratch

Companies are tied together by money. A supplier sells parts or services to another company; that company is its customer.

US rules require a company to disclose any customer that brings in more than 10% of its revenue (its total sales). So filings tell you, for example, "customer X was 25% of our revenue last year". That is a dependency: if the customer orders less, the supplier hurts.

When a linked company reports, its results can ripple to your holding:

  • A supplier says "our biggest customer cut orders": bad sign for the customer's sales too.
  • A customer says "we are buying much more": good sign for its supplier.
Diagram: Filings name big customers, with % of revenue leads to Links: supplier to / customer of; Links: supplier to / customer of leads to Your holdings; Earnings calendar: next 30 days leads to RIPL list; Your holdings leads to RIPL list; RIPL list leads to Who reports soon, and how much is at stake.

See it in Gloom

Gloom screenshot: RIPL for seven large holdings
RIPL for seven large holdings: the linked companies that report soon, how they are linked, and the share of revenue involved. Historical example.

open ittype RIPL to check every US listing in your portfolios and watchlists (up to 60), or RIPL AAPL, NVDA for named tickers.

  1. DATE and TIME: when the linked company reports. AMC means after the market close.
  2. REPORTS: the company that reports, here FN Fabrinet on 2026-11-02.
  3. LINK: supplier to means this company's filings name your holding as a customer.
  4. HOLDING: which of your names is involved: NVDA.
  5. REVENUE SHARE: 16.3% of FN. The column says whose revenue it is: NVIDIA bought 16.3% of what Fabrinet sold. Row 2: 91% of CRUS, Apple buys 91% of what Cirrus Logic sells. That is a very strong link.

Enter opens the full supply chain (SPLC, chapter 11); e opens the earnings view.

Practice and recap

Try it3 tasks
  1. In the screenshot, which link is strongest? (CRUS to AAPL, 91% of Cirrus Logic's revenue.)
  2. Duolingo appears as supplier to AAPL at 59.9%. Does Apple really buy language lessons? (No. Duolingo's annual report says Apple processed about 61% of its revenue in 2024 and 2025, because most subscriptions are paid through the App Store. The link is real, but it is a payment channel, not a parts order. Read the filing before drawing conclusions.)
  3. Which holding has the most linked reports in this window? (NVDA: FN and FORM.)
Common mistakes4 mistakes
  • Reading the percentage as a share of your holding's revenue. It says whose revenue it is: usually the supplier's.
  • Assuming no row means no exposure. Many companies do not name their customers.
  • Trusting an old percentage. Customers change; check the filing period.
  • Forgetting non-US links. Customers listed outside the US are left out.
Check yourself3 questions
  1. Why must US companies name some customers?
  2. 24% of XYZ next to your holding AAPL, link supplier to. Whose revenue is the 24%?
  3. Why could a supplier's results move your stock before your company reports?
Answers
  1. US rules require disclosing any customer above 10% of revenue.
  2. XYZ's: Apple buys 24% of what XYZ sells.
  3. Because the supplier's sales and comments reveal how much your company is buying or selling.
Words in this lesson4 words
supplier / customer
A company that sells to another / the company that buys.
revenue
A company's total sales in a period.
dependency
A link where one company relies on another for a big share of its sales.
ripple
The effect of one company's news on the companies tied to it.

Educational material about reading market data, not investment advice.