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Equity Data Terminal: 3.9 Release (NEW)

Equity Data Terminal

We are launching a significant upgrade to our Financial data product with a number of major data quality enhancements for public companies:

  • new off-the-shelf models addressing various needs and use cases,
  • deeper integration of all fields and models to EDT, Excel, Screener and Comp tables,
  • and multiple exclusive tools to support the audit of the model data and financial modelling in Excel.

We are also initiating coverage of private company data, with the addition of ~750k non-public entity profiles across companies and data on Funding rounds, investments, and acquisitions for both public and non-public entities.

Significant data quality enhancement

Stitching interim filings together is simply not enough to make a model. With this release, we have brought broad-based Sentieo Exclusive improvements to the financial data from our data sources to address several specific edge cases and to bridge the gap between simple filings and off-the-shelf models. Some of these improvements include:

Better handling of changes to the Fiscal Year-end date (eg: Mar-YE -> Dec-YE)

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  • We have dramatically improved how we handle a change in a company’s fiscal year end. We now show the actual period end date and make a careful transition in the model for sentieo calculated fields. We also generate where possible pro-forma statements for the transition periods.

Better handling of data of SMB reporting in Thousands 

  • While Standardized models commonly come in Millions only, we offer users to view the model in Thousands, with every unit as it was originally reported.

Better handling of restatements and reclassifications:

  • We introduced several rules around reclassifications, including but not limited to, generating as many gap periods possible while also carefully avoiding periods that are only available at the time of the report.

Better handling of preliminary partial data reports (eg: revenue only trading updates).

  • Incomplete periods are now carefully indicated in the UI and each type of model is updated at its own page, once and only once all the required data becomes available.

Better handling of altering reporters (reporting pattern of 1Q/1H/3Q/2H):

  • We automatically calculate as many gap filings possible to produce full periods of interim statement models at both quarterly and bi-annual periods

Better handling of companies changing interim period (Q->H / H->Q): (both types of interim models are now available)

Better handling of unusual financial period lengths (eg: 1 or 10 mth fiscal year): We produce annualized models where possible.

Better handling of changes in reporting currency (eg: switching from GBP to EUR): Currency changes are now well indicated 

Improved Sentieo Model with a custom model definition:

  • Sentieo model is evolving to allow for company-specific adjustments to field definitions, allowing us to bridge further the gap between Analyst Adjusted style models with the full justification using the reported figures of the As Reported model financials

Plenty of New Data

Calendarized, NTM and LTM models

We now also offer a Calendarized view, as well as NTM and LTM data, for all of our models.

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KPI & Segments

We now offer a library of ~300 KPIs companies from where various sectors report in their financials. For example:

  • How many iPads, iPhones and Macs Apple sold each quarter,
  • How many miles were flown each quarter by how many planes and passengers on American Airlines,
  • or how many new stores did Abercrombie open each quarter*.
  • (*Note the KPI Library includes metrics included in filings, not discussed in conference calls)

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Models for Banks

Every line of the ‘As reported’ and ‘Standardized’ models from Refinitiv for Banks are now available on EDT, Screener and Excel.

New Model UI

We are further improving our models with a fresh new look and improved table technology.

Formula Auditing and sourcing

Now we make it easier than ever to understand where the data is coming from and walk through the various steps of a calculation

Audit pop-ups (BETA)

Every number in our models and ratios page now comes fully justified with a pop up demonstrating the formula calculation step-by-step.

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Historical filings / Earlier versions of a period

Model periods based on prior filings are now also available. Click on “Show Earlier Versions” to see a side-by-side comparison of any previous report for the period and the most recent update.

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Filing information

All ‘Standardized’ and ‘As reported’ periods come with useful information on the filing used to produce the numbers: these include the type of source file (eg: 10K), its date of publication, what was the purpose of the filing (update, restatement, reclassification, etc..) the currency in which the report was filed, and who was the Auditor and its opinion on the accounts.

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Consensus history (Consensus model only)

When you click on any number, a pop up will show you the history of the estimate for that number (up to today for future periods) or when the number was reported.

Several Models for different purposes

We have now fully onboarded Refinitiv Fundamental data into our platform, drastically increasing our field count from 138 to ~1500, and added multiple improvements and features on top for a rich and premium fundamental data experience. We offer multiple models, each with particular strengths and use cases.

Consensus Model

  • Based on Refinitiv IBES data, the consensus model shows the ‘Actual Adjusted’ figures for historical periods and current consensus for future periods.
  • So why use the Consensus model? 
    • Useful to track from a high level how sell-side analysts are thinking about the company,
    • Check the consensus history for each number. However, since those numbers are consensus data they cannot be tracked all the way to the financials.

Standardized Model

  • Based on Refinitiv Reuters Fundamentals data, the Standardized model takes the Financials reported by the company and reclassifies all the items according to one template. 
  • When to use the Standardized model: Standardized models (1) erase differences in reporting style between companies, making them easier to compare. (2) Also, companies sometimes elect to report certain items in odd places so checking the standardized model helps to not miss any hidden cost item.

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As reported model

  • Based on Refinitiv Reuters Fundamentals data, the “As reported model” is as close as it can be to the financials in the company’s filings and press releases. In rare cases, some numbers will be slightly altered to incorporate Note items in the face financial. 
  • When to use the ‘As Reported’ Model: The ‘As Reported’ model is useful when it is important to access the financial report in the same structure and layout as it was originally reported.
    • For example, to be used as an input for financial modelling, or to understand how the company decided to group the cost items together in a way which could end up having been quite different from the Standard model.

Sentieo Model revamped

  • The Sentieo model’s purpose is to offer a justified analyst-style model:
    • For example, the Sentieo model has adjustments just like the Consensus model, but it also has justifications for the numbers. Each number is also broken down into components down to the original number from the company’s report, or to the Consensus model as much as possible.

Tools to turbocharge modelling in Excel

We’re introducing a set of new features to make it even easier to leverage our financial data in Excel.

  • All fields are in Excel: every number from any of our financial models including the ‘As Reported’ model is individually available in Excel; 
  • New Excel formula dedicated to financial modelling: Each company has a unique ‘As Reported’ model layout, which means that it is difficult to build a model which fits all companies. We are adding to our Excel plugin the formula =sntlines() which can generate in one call the integrity of the fields 
  • Definition and Source pop up: Every number has a pop up in EDT with a pre-built Excel formula, which can be added to the clipboard in one click.

Updated on November 18, 2019

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