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Introducing our Financial Model

We are re-launching our Financial model, with more useful fields, detailed data and a new fresh and user-friendly design.

  • Richer data: Our financial model now has all the detailed steps from top to bottom, and makes a clear distinction between As Reported and Adjusted figures with all the adjustments from one to the other. We also continue to seamlessly integrate data for historical periods and future periods in one single view.
  • New design: Our financial model benefits from a substantial relooking exercise and now sports a smoother design and a smarter grouping of all the pages of the Equity Data Terminal.
  • New Feature: Valuation and Price Target tools: we are introducing a new powerful feature to easily analyze the fair value of a stock and define a price target. the new feature also leverages on the pre-existing ability to build your own forecasts away from consensus.
  • Available everywhere: Fields from the new Model are also available on Screener, Plotter and Excel plugin

A More Detailed Financial Model

We have added the following series to the Income statement model. It is therefore now possible to start from Revenue and walk the way down to EPS; all the key items in the Income Statement are now there. We are also making a clearer distinction between “As Reported” figures, and “Adjusted” figures, with the breakdown of all the non-cash and non-recurring items to go from one to the other. All the new series are also immediately available on Plotter, Screener, and Excel plugin.

  • R&D
  • SG&A
  • Other non-recurring operating expenses (with the detailed breakdown under an accordion).
  • Other recurring operating expenses (with the detailed breakdown under an accordion)
  • Total Operating expenses – As Reported
  • Total Operating expenses – Adjusted
  • EBIT – As Reported
  • EBIT – Adjusted
  • EBITDA – As Reported
  • EBITDA – Adjusted
  • Profit Before Tax – As Reported
  • Profit Before Tax – Adjusted
  • Operating results attributable to non-common shareholders (with the detailed breakdown under an accordion).
  • Net Income – As reported
  • Total Adjustments to Net Income to go from As reported to Adjusted (with the detailed breakdown under an accordion)
  • Net Income – Adjusted
  • EPS – Basic
  • EPS – Diluted
  • EPS – Diluted – Adjusted
  • Weighted Average Number of Shares – Basic
  • Weighted Average Number of Shares – Adjusted

An improved and detailed Market Cap Methodology

We have improved our market cap methodology, which add a layer of transparency which is handy especially for multi-share class companies. In the example below, we show that for GOOGL each of the share class market caps is calculated separately and adding up to the full company market cap.

Growth metrics

Growth rates have been added to the main stages of the Income statement to help further evaluate the ongoing performance of companies.

  • y/y growth
  • 2y growth stack
  • 3yr CAGR
  • 5yr CAGR
  • 10y CAGR

Likewise, Margin expansion measurements have been added to the main profit stages of the income statement

  • year over year change in margin, measured in basis points
  • 2y change in margin, measured in basis points
  • 1y incremental margin (i.e. how much extra profit the difference in revenue has generated, it’s basically a measure of profit margin elasticity which is looked at closely in some industries).
  • 2y incremental margin.

Both growth rates and margin measurements automatically update as you build new scenarios.

Last Twelve Month data

we have added the sum of the last reported 12 months in the far right column;

we are also introducing the full LTM Income Statement model, available in the Period drop-down menu.

A more intuitive organization of Equity Data Terminal sections

Previously, a user had to first select a source (Sentieo, Thomson Reuters, SEC/XBRL) then look for which financial statement item he required.

We have now grouped all the financial data sources into a more intuitive single menu. First the user decides which financial statement item he wants to research. By default, he will be taken to the Sentieo model. The other sources are available in a drop-down menu.

Valuation and Price Target tool

A powerful new feature we are launching is the valuation sheet. It takes target price setting to a new level of simplicity.

Enter the price you think is fair for any of the forward years, and it will update the valuation multiples. You can also enter what you think is a fair multiple for any of the forward years for any of the forward multiple metrics, and it will update all the other valuation multiples and the price target accordingly. Also, BOTH work seamlessly on the same page, you can jump from one to the other.

More geographies

We now have a full global coverage of stock exchange-traded companies in all international geographies.

Please reach out to our customer success team with any question or feedback. All feedback welcome! 

 

 

 

 

Updated on November 18, 2019

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