Daito Trust Construction Co Ltd
OTC:DIFTY

Watchlist Manager
Daito Trust Construction Co Ltd Logo
Daito Trust Construction Co Ltd
OTC:DIFTY
Watchlist
Price: 4.79 USD -2.24% Market Closed
Market Cap: 1.2B USD
Financials Section:
Income Statement Balance Sheet Cash Flow Statement

Income Statement

Revenue
+
3Y
+18%
5Y
+22%
10Y
+36%
Operating Income
+
3Y
+32%
5Y
-2%
10Y
+20%
Net Income
+
3Y
+49%
5Y
+10%
10Y
+51%

Earnings Waterfall
Daito Trust Construction Co Ltd

Revenue
1.9T JPY
Cost of Revenue
-1.6T JPY
Gross Profit
322.8B JPY
Operating Expenses
-205.6B JPY
Operating Income
117.2B JPY
Other Expenses
-24.6B JPY
Net Income
92.6B JPY

Income Statement
Daito Trust Construction Co Ltd

Rotate your device to view
Income Statement
Currency: JPY
Jun-2004 Sep-2004 Dec-2004 Jun-2005 Sep-2005 Dec-2005 Jun-2006 Sep-2006 Dec-2006 Jun-2007 Sep-2007 Dec-2007 Jun-2008 Sep-2008 Dec-2008 Jun-2009 Sep-2009 Dec-2009 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025
Revenue
Interest Expense
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
80
333
670
996
1 317
1 293
1 261
1 233
1 176
1 121
1 060
996
915
850
791
733
709
672
634
599
573
535
490
448
401
371
351
325
322
297
273
253
229
224
218
216
210
209
210
237
290
344
401
426
433
434
430
421
428
435
440
453
441
461
485
533
611
0
0
Revenue
286 545
N/A
296 233
+3%
290 109
-2%
288 576
-1%
303 574
+5%
313 345
+3%
319 113
+2%
325 609
+2%
327 851
+1%
319 966
-2%
340 853
+7%
340 497
0%
427 638
+26%
517 447
+21%
598 439
+16%
617 113
+3%
621 788
+1%
678 177
+9%
713 890
+5%
697 030
-2%
709 150
+2%
1 001 168
+41%
1 009 860
+1%
1 044 222
+3%
1 061 754
+2%
1 087 128
+2%
1 106 857
+2%
1 117 695
+1%
1 136 617
+2%
1 152 413
+1%
1 194 264
+4%
1 213 043
+2%
1 248 785
+3%
1 259 673
+1%
1 288 650
+2%
1 311 279
+2%
1 335 336
+2%
1 353 155
+1%
1 373 269
+1%
1 391 529
+1%
1 411 582
+1%
1 411 643
+0%
1 422 030
+1%
1 453 359
+2%
1 467 434
+1%
1 497 104
+2%
1 528 320
+2%
1 540 302
+1%
1 550 923
+1%
1 557 017
+0%
1 559 931
+0%
1 574 168
+1%
1 573 375
0%
1 591 178
+1%
1 578 839
-1%
1 562 035
-1%
1 561 461
0%
1 586 293
+2%
1 573 811
-1%
1 551 158
-1%
1 549 588
0%
1 488 915
-4%
1 507 228
+1%
1 535 468
+2%
1 554 925
+1%
1 583 003
+2%
1 603 533
+1%
1 606 580
+0%
1 619 318
+1%
1 657 626
+2%
1 671 539
+1%
1 689 678
+1%
1 715 897
+2%
1 731 467
+1%
1 768 568
+2%
1 801 642
+2%
1 823 813
+1%
1 842 357
+1%
1 875 464
+2%
1 894 611
+1%
Gross Profit
Cost of Revenue
(193 171)
(200 558)
(195 992)
(194 993)
(205 684)
(212 609)
(215 744)
(221 081)
(222 351)
(217 285)
(231 507)
(232 573)
(322 355)
(412 267)
(498 335)
(514 368)
(518 080)
(556 822)
(581 346)
(570 217)
(579 074)
(805 856)
(813 678)
(837 263)
(851 477)
(872 983)
(888 680)
(901 779)
(918 403)
(933 987)
(963 807)
(983 129)
(1 011 299)
(1 026 575)
(1 051 534)
(1 071 785)
(1 094 527)
(1 114 209)
(1 132 079)
(1 145 996)
(1 160 146)
(1 157 216)
(1 161 866)
(1 181 075)
(1 188 690)
(1 211 516)
(1 233 198)
(1 244 096)
(1 254 893)
(1 259 970)
(1 264 974)
(1 277 751)
(1 278 277)
(1 295 134)
(1 291 211)
(1 286 371)
(1 288 064)
(1 303 829)
(1 298 523)
(1 282 127)
(1 284 586)
(1 250 049)
(1 261 714)
(1 282 062)
(1 299 456)
(1 322 860)
(1 344 762)
(1 354 220)
(1 367 722)
(1 399 178)
(1 409 727)
(1 423 324)
(1 441 205)
(1 446 689)
(1 472 741)
(1 495 002)
(1 511 113)
(1 526 499)
(1 555 649)
(1 571 821)
Gross Profit
93 374
N/A
95 675
+2%
94 117
-2%
93 583
-1%
97 890
+5%
100 736
+3%
103 369
+3%
104 528
+1%
105 500
+1%
102 681
-3%
109 346
+6%
107 924
-1%
105 283
-2%
105 180
0%
100 104
-5%
102 745
+3%
103 708
+1%
121 355
+17%
132 544
+9%
126 813
-4%
130 076
+3%
195 312
+50%
196 182
+0%
206 959
+5%
210 277
+2%
214 145
+2%
218 177
+2%
215 916
-1%
218 214
+1%
218 426
+0%
230 457
+6%
229 914
0%
237 486
+3%
233 098
-2%
237 116
+2%
239 494
+1%
240 809
+1%
238 946
-1%
241 190
+1%
245 533
+2%
251 436
+2%
254 427
+1%
260 164
+2%
272 284
+5%
278 744
+2%
285 588
+2%
295 122
+3%
296 206
+0%
296 030
0%
297 047
+0%
294 957
-1%
296 417
+0%
295 098
0%
296 044
+0%
287 628
-3%
275 664
-4%
273 397
-1%
282 464
+3%
275 288
-3%
269 031
-2%
265 002
-1%
238 866
-10%
245 514
+3%
253 406
+3%
255 469
+1%
260 143
+2%
258 771
-1%
252 360
-2%
251 596
0%
258 448
+3%
261 812
+1%
266 354
+2%
274 692
+3%
284 778
+4%
295 827
+4%
306 640
+4%
312 700
+2%
315 858
+1%
319 815
+1%
322 790
+1%
Operating Income
Operating Expenses
(67 835)
(70 810)
(71 857)
(72 309)
(72 561)
(74 301)
(76 337)
(76 122)
(76 034)
(78 073)
(81 936)
(86 919)
(88 178)
(86 392)
(82 786)
(80 582)
(81 950)
(84 081)
(84 872)
(83 390)
(85 513)
(121 544)
(123 540)
(127 144)
(126 932)
(132 169)
(134 490)
(136 260)
(136 198)
(136 015)
(135 601)
(135 984)
(136 854)
(143 318)
(144 289)
(145 693)
(148 048)
(147 426)
(147 893)
(147 683)
(147 584)
(153 426)
(155 828)
(158 516)
(159 395)
(165 426)
(168 299)
(168 721)
(170 423)
(170 678)
(170 836)
(173 403)
(175 234)
(168 997)
(167 845)
(164 486)
(162 859)
(154 508)
(151 982)
(149 325)
(147 778)
(152 128)
(155 403)
(155 947)
(157 045)
(160 549)
(160 883)
(163 658)
(165 458)
(158 448)
(162 967)
(165 911)
(169 474)
(179 959)
(181 276)
(182 788)
(186 356)
(196 983)
(200 711)
(205 585)
Selling, General & Administrative
(67 835)
(70 945)
(71 857)
(72 309)
(72 230)
(74 301)
(76 337)
(76 389)
(76 034)
(78 073)
(81 713)
(86 919)
(88 178)
(86 679)
(82 786)
(80 582)
(81 950)
(84 081)
(84 872)
(83 390)
(85 513)
(120 585)
(123 540)
(127 144)
(126 932)
(132 169)
(134 490)
(136 260)
(136 199)
(134 952)
(135 600)
(135 982)
(136 851)
(143 317)
(144 288)
(145 693)
(148 028)
(145 977)
(147 746)
(147 681)
(147 583)
(152 039)
(155 735)
(158 429)
(159 309)
(164 001)
(168 299)
(168 720)
(170 424)
(170 677)
(170 836)
(173 403)
(175 273)
(167 013)
(167 495)
(164 526)
(162 859)
(152 965)
(151 611)
(149 323)
(147 776)
(150 427)
(155 400)
(155 946)
(157 043)
(158 836)
(160 883)
(163 655)
(165 457)
(156 741)
(162 966)
(165 910)
(169 473)
(178 138)
(181 275)
(182 789)
(186 356)
(194 530)
(200 709)
(205 581)
Research & Development
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(959)
0
0
0
0
0
0
0
(1 062)
0
0
0
0
0
0
0
0
0
0
0
(1 387)
0
0
0
(1 425)
0
0
0
0
0
0
0
(1 983)
0
0
0
(1 541)
0
0
0
(1 699)
0
0
0
(1 712)
0
0
0
(1 706)
0
0
0
(1 820)
0
0
0
(2 451)
0
0
Other Operating Expenses
0
135
0
0
(331)
0
0
267
0
0
(223)
0
0
287
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
(1)
(1)
(2)
(3)
(1)
(1)
0
(20)
(1 449)
(147)
(2)
(1)
0
(93)
(87)
(86)
0
0
(1)
1
(1)
0
0
39
(1)
(350)
40
0
(2)
(371)
(2)
(2)
(2)
(3)
(1)
(2)
(1)
0
(3)
(1)
(1)
(1)
(1)
(1)
(1)
(1)
1
0
(2)
(2)
(4)
Operating Income
25 539
N/A
24 865
-3%
22 260
-10%
21 274
-4%
25 329
+19%
26 435
+4%
27 032
+2%
28 406
+5%
29 466
+4%
24 608
-16%
27 410
+11%
21 005
-23%
17 105
-19%
18 788
+10%
17 318
-8%
22 163
+28%
21 758
-2%
37 274
+71%
47 672
+28%
43 423
-9%
44 563
+3%
73 768
+66%
72 642
-2%
79 815
+10%
83 345
+4%
81 976
-2%
83 687
+2%
79 656
-5%
82 016
+3%
82 411
+0%
94 856
+15%
93 930
-1%
100 632
+7%
89 780
-11%
92 827
+3%
93 801
+1%
92 761
-1%
91 520
-1%
93 297
+2%
97 850
+5%
103 852
+6%
101 001
-3%
104 336
+3%
113 768
+9%
119 349
+5%
120 162
+1%
126 823
+6%
127 485
+1%
125 607
-1%
126 369
+1%
124 121
-2%
123 014
-1%
119 864
-3%
127 047
+6%
119 783
-6%
111 178
-7%
110 538
-1%
127 956
+16%
123 306
-4%
119 706
-3%
117 224
-2%
86 738
-26%
90 111
+4%
97 459
+8%
98 424
+1%
99 594
+1%
97 888
-2%
88 702
-9%
86 138
-3%
100 000
+16%
98 845
-1%
100 443
+2%
105 218
+5%
104 819
0%
114 551
+9%
123 852
+8%
126 344
+2%
118 875
-6%
119 104
+0%
117 205
-2%
Pre-Tax Income
Interest Income Expense
264
265
258
269
867
908
942
389
510
746
1 083
1 360
1 491
1 453
1 492
1 541
1 652
1 866
2 003
2 177
2 501
2 059
1 687
765
(469)
(737)
(602)
(496)
(390)
(269)
(176)
(119)
(84)
(43)
3
14
(15)
68
27
59
231
359
404
470
186
30
117
121
414
399
1 398
1 444
1 487
1 810
1 240
1 259
1 438
2 276
1 746
2 028
2 112
1 335
1 486
1 264
1 249
926
906
129
(777)
63
829
2 933
3 444
1 947
1 222
28
3 282
10 740
10 528
10 813
Non-Reccuring Items
(104)
29
(38)
(94)
527
533
546
334
529
914
120
(178)
(535)
(536)
(1 985)
(1 871)
(1 727)
211
(310)
(34)
(680)
(4 772)
(3 826)
(2 980)
(2 232)
2 555
1 674
1 034
555
110
303
68
44
(20)
(68)
(49)
0
(146)
0
(151)
(154)
(93)
0
0
0
(123)
(127)
(126)
(127)
(136)
(131)
(498)
(497)
(346)
0
(23)
(226)
(370)
0
(379)
(262)
(166)
(165)
(160)
(74)
(187)
(190)
(184)
(196)
(1 797)
(1 795)
(2 012)
(2 098)
(13)
(25)
202
301
(3 735)
(3 753)
(3 764)
Gain/Loss on Disposition of Assets
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(1)
(1)
0
1
(18)
(27)
(82)
(104)
(97)
(114)
(79)
(103)
(122)
(124)
(135)
(291)
(282)
(299)
(250)
(84)
(93)
(81)
(154)
(194)
(214)
(204)
(278)
(351)
(411)
(503)
(472)
(419)
(433)
(410)
(408)
(496)
(494)
(482)
(469)
(605)
(538)
(561)
(726)
(872)
(589)
(985)
(805)
(764)
(790)
(325)
(313)
(268)
(72)
(100)
(129)
(280)
(438)
(420)
(354)
(226)
(193)
(206)
(170)
(188)
(201)
213
Total Other Income
325
376
426
453
461
786
708
544
462
553
861
622
404
99
692
1 326
2 280
2 157
2 119
1 864
1 919
2 084
1 667
1 703
1 839
2 921
3 033
3 314
3 266
3 396
3 578
3 519
3 756
3 598
3 753
3 800
3 947
4 299
4 507
4 413
4 456
4 350
4 314
4 346
4 388
4 345
4 560
4 731
4 504
4 808
4 879
4 870
4 682
4 436
4 145
3 739
3 905
4 024
3 478
4 321
4 087
3 627
3 346
2 645
2 789
3 152
4 250
3 831
4 007
3 850
3 495
3 873
3 814
4 080
4 020
4 252
4 291
4 363
4 150
3 445
Pre-Tax Income
26 024
N/A
25 535
-2%
22 906
-10%
21 902
-4%
27 184
+24%
28 662
+5%
29 228
+2%
29 673
+2%
30 967
+4%
26 821
-13%
29 475
+10%
22 809
-23%
18 465
-19%
19 802
+7%
17 515
-12%
23 157
+32%
23 963
+3%
41 509
+73%
51 466
+24%
47 403
-8%
48 221
+2%
73 035
+51%
72 073
-1%
79 189
+10%
82 404
+4%
86 612
+5%
87 670
+1%
83 384
-5%
85 312
+2%
85 357
+0%
98 279
+15%
97 099
-1%
104 098
+7%
93 231
-10%
96 422
+3%
97 485
+1%
96 539
-1%
95 547
-1%
97 617
+2%
101 967
+4%
108 107
+6%
105 266
-3%
108 643
+3%
118 081
+9%
123 451
+5%
123 995
+0%
130 940
+6%
131 801
+1%
129 990
-1%
130 944
+1%
129 773
-1%
128 348
-1%
125 067
-3%
132 342
+6%
124 630
-6%
115 592
-7%
114 929
-1%
133 014
+16%
127 941
-4%
124 691
-3%
122 356
-2%
90 770
-26%
93 988
+4%
100 883
+7%
102 075
+1%
103 217
+1%
102 782
0%
92 378
-10%
89 043
-4%
101 836
+14%
100 936
-1%
104 817
+4%
110 024
+5%
110 607
+1%
119 575
+8%
128 128
+7%
134 048
+5%
130 055
-3%
129 828
0%
127 912
-1%
Net Income
Tax Provision
(11 027)
(10 705)
(10 060)
(9 669)
(11 568)
(12 214)
(12 257)
(12 834)
(13 325)
(11 716)
(12 874)
(9 929)
(8 211)
(8 256)
(7 236)
(9 338)
(9 509)
(17 253)
(21 233)
(19 890)
(19 661)
(29 777)
(29 451)
(32 274)
(36 216)
(39 353)
(39 741)
(37 259)
(35 267)
(33 556)
(38 319)
(37 653)
(40 218)
(37 761)
(38 297)
(38 084)
(37 169)
(39 208)
(39 211)
(40 457)
(42 049)
(37 680)
(38 469)
(40 600)
(41 684)
(41 457)
(43 141)
(43 432)
(42 924)
(42 705)
(41 930)
(41 468)
(40 324)
(41 982)
(40 019)
(37 054)
(36 666)
(42 299)
(41 161)
(40 029)
(38 956)
(28 403)
(29 893)
(32 005)
(32 780)
(33 660)
(33 192)
(30 041)
(29 414)
(32 051)
(31 036)
(32 408)
(33 251)
(35 385)
(38 449)
(40 615)
(41 851)
(36 320)
(36 302)
(35 405)
Income from Continuing Operations
14 997
14 830
12 846
12 233
15 616
16 448
16 971
16 839
17 642
15 105
16 601
12 880
10 254
11 546
10 279
13 819
14 454
24 256
30 233
27 513
28 560
43 258
42 622
46 915
46 188
47 259
47 929
46 125
50 045
51 801
59 960
59 446
63 880
55 470
58 125
59 401
59 370
56 339
58 406
61 510
66 058
67 586
70 174
77 481
81 767
82 538
87 799
88 369
87 066
88 239
87 843
86 880
84 743
90 360
84 611
78 538
78 263
90 715
86 780
84 662
83 400
62 367
64 095
68 878
69 295
69 557
69 590
62 337
59 629
69 785
69 900
72 409
76 773
75 222
81 126
87 513
92 197
93 735
93 526
92 507
Income to Minority Interest
0
0
0
0
0
0
(8)
(18)
(8)
(27)
(28)
(13)
40
63
70
48
32
11
13
16
22
(105)
(112)
(115)
(105)
(155)
(157)
(135)
(102)
(127)
(93)
(102)
(112)
(192)
(229)
(261)
(293)
(229)
(248)
(252)
(266)
(305)
(324)
(344)
(348)
(369)
(351)
(372)
(398)
(410)
(438)
(397)
(394)
(428)
(406)
(382)
(385)
(334)
(207)
(234)
(119)
(81)
(143)
24
71
22
(9)
(22)
20
575
694
654
654
(536)
(640)
(696)
(782)
123
155
118
Net Income (Common)
14 997
N/A
14 836
-1%
12 844
-13%
12 229
-5%
15 610
+28%
16 449
+5%
16 966
+3%
16 819
-1%
17 633
+5%
15 078
-14%
16 573
+10%
12 864
-22%
10 288
-20%
11 611
+13%
10 348
-11%
13 869
+34%
14 486
+4%
24 267
+68%
30 246
+25%
27 526
-9%
28 580
+4%
43 151
+51%
42 507
-1%
46 799
+10%
46 082
-2%
47 103
+2%
47 769
+1%
45 990
-4%
49 943
+9%
51 674
+3%
59 868
+16%
59 344
-1%
63 766
+7%
55 277
-13%
57 895
+5%
59 138
+2%
59 075
0%
56 109
-5%
58 155
+4%
61 256
+5%
65 792
+7%
67 279
+2%
69 849
+4%
77 137
+10%
81 417
+6%
82 168
+1%
87 446
+6%
87 994
+1%
86 667
-2%
87 829
+1%
87 406
0%
86 484
-1%
84 349
-2%
89 930
+7%
84 202
-6%
78 153
-7%
77 877
0%
90 380
+16%
86 575
-4%
84 429
-2%
83 279
-1%
62 285
-25%
63 950
+3%
68 901
+8%
69 366
+1%
69 580
+0%
69 582
+0%
62 316
-10%
59 650
-4%
70 361
+18%
70 595
+0%
73 065
+3%
77 429
+6%
74 685
-4%
80 486
+8%
86 815
+8%
91 413
+5%
93 858
+3%
93 680
0%
92 625
-1%
EPS (Diluted)
23.78
N/A
116.81
+391%
102.75
-12%
19.67
-81%
125.88
+540%
134.82
+7%
27.86
-79%
135.63
+387%
143.35
+6%
24.92
-83%
134.73
+441%
106.31
-21%
16.97
-84%
94.39
+456%
85.52
-9%
23.42
-73%
120.71
+415%
207.41
+72%
52.43
-75%
47.7
-9%
49.49
+4%
76.77
+55%
107.4
+40%
117.87
+10%
115.97
-2%
118.65
+2%
119.98
+1%
115.31
-4%
125.26
+9%
129.65
+4%
150.26
+16%
148.91
-1%
160.01
+7%
138.71
-13%
145.28
+5%
149.25
+3%
150.24
+1%
141.94
-6%
148.02
+4%
156.92
+6%
168.77
+8%
172.5
+2%
181
+5%
201.19
+11%
212.69
+6%
214.38
+1%
230.27
+7%
233.28
+1%
230.08
-1%
232.9
+1%
233.31
+0%
232.76
0%
227.03
-2%
242.29
+7%
236.27
-2%
227.52
-4%
227.67
+0%
261.16
+15%
252.67
-3%
245.45
-3%
242.4
-1%
181.77
-25%
187.83
+3%
202.24
+8%
203.53
+1%
204.2
+0%
203.96
0%
182.59
-10%
174.78
-4%
206.15
+18%
206.64
+0%
213.72
+3%
231.06
+8%
221.93
-4%
245.9
+11%
264.64
+8%
277.28
+5%
285.22
+3%
282.62
-1%
279.05
-1%

See Also

Summary
DIFTY intrinsic value, competitors valuation, and company profile.
DCF Valuation
DIFTY stock valuation using Discount Cash Flow valuation method.
Relative Valuation
DIFTY stock valuation using valuation multiples.
Wall Street Estimates
DIFTY price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
DIFTY stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
Discover More
ALPHA SPREAD
Follow us
Join more than 307,400+ value investors using Alpha Spread
Create Free Account
or see our plans & pricing

Company

About Us Careers Pricing Affiliate Program Terms of Service Privacy Policy

Help

What is Intrinsic Value? Help Center Contact Us

Tools

Stock Screener Intrinsic Value Calculator DCF Value Calculator Discount Rate Calculator

Stocks

Most Undervalued Stocks Wide Economic Moat Stocks High Profitability Stocks High Solvency Stocks Most Popular Stocks

© 2026 Alpha Spread Limited. All Rights Reserved.

www.alphaspread.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on www.alphaspread.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. In no event shall Alpha Spread Limited be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on www.alphaspread.com, or relating to the use of, or inability to use, www.alphaspread.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance.