Value Line provides investment research and data on stocks, mutual funds, and ETFs. The company's flagship product, The Value Line Investment Survey, uses proprietary "Timeliness" and "Safety" ranking systems to rate securities for expected performance and risk. Value Line sells research through periodic subscriptions to individual investors and institutional clients. The company operates through three segments: Investment Periodicals & Publications, Copyright Programs, and Investment Management. Beyond publishing, Value Line licenses its ranks and trademarks to third-party financial sponsors, such as ETF managers, for fees based on assets under management. Value Line also holds non-voting financial interests in EAM, the manager of the Value Line Funds, which entitles the company to a share of EAM’s revenues and profits. The business model generates recurring revenue from subscriptions, while licensing fees and EAM distributions correlate directly with equity market performance. Value Line maintains a lean cost structure and manages a corporate investment portfolio to generate additional income. The company strategy focuses on leveraging its brand recognition and proprietary ranking methodology to drive demand across its publishing and licensing businesses.