/biz/ - Business & Finance

>Find $CTL while searching for dividend stocks
>about 10% div yield, a large-cap telecom company in coronatimes, decent P/E and P/B, seems like a slam dunk
>Check balance sheet from last year
>THIRTY FUCKING PERCENT of total assets is ""Goodwill""
>Without this absolute bullshit the stockholders equity is NEGATIVE $13B

Why the FUCK is this allowed? At the bare minimum, they shouldn't be able to list a positive P/B when their GAAP book value is COMPLETE bullshit. It makes filtering by P/B difficult too because they're not the only ones who do this.