Current segment reporting does not assist investors in their use of valuation models. Investors would like more segment-level information. These are key findings of the Post-Implementation Review (PIR) of IFRS 8 (2013) and PIR SFAS 131 (2012). They highlight that the development and improvement of segment reporting is long overdue. Although it is a critical cornerstone for forecasting future firm performance and firm value, the current status quo of segment reporting does not enable investors to perform segment analysis with a focus on operating activities, profitability, and growth. In order to address key concerns of the PIR on segment reporting, the IASB is discussing a series of amendments to clarify and enhance segment reporting (IFRS 8 Staff Paper, October 2016, March 16, 2017 – CMAC Meeting). The authors appreciate the IASB’s initiative to improve segment reporting. At the same time, the authors would like to emphasize that segment reporting from the investors’ perspective can only be improved if it aims to identify value drivers, thus sharpening the focus on operations.