FUNDAMENTAL DATA
Share price
Source: Finnhub Stock Price
Data item: Closing Price
As of date: Previous Market Close
52 week high and low
Source: Finnhub Stock Fundamentals
Data item: 52weekhigh and 52weeklow
For companies with multiple share classes, data is presented only for the most liquid share class
As of date: Previous Market Close
P/E FY1
Source: Calculated using Finnhub Stock Price and Finnhub Stock Estimates
Calculation: Share price / FY1 EPS
For companies with multiple share classes, data is presented only for the most liquid share class
As of date: Previous market close
Dividend yield
Source: Calculated using Finnhub Stock Fundamentals and Finnhub Stock Price
Calculation: DividendsPerShareTTM / Share price
For companies with multiple share classes, data is presented only for the most liquid share class
As of date: Previous market close
VWAP share price
Source: Finnhub Stock Price
Calculation: Volume Weighted Average Price = Sum of (Daily Traded Volume x Daily Close Price) / Sum of Daily Traded Volume
The calculation uses 1 month, 3 month, 6 month or 12 month historic data depending on the option selected
For companies with multiple share classes, data is presented only for the most liquid share class
As of date: Previous Market Close
Basic shares
Source: Financial Edge
Data Item: Total Basic Shares Outstanding
This item includes all share classes.
As of date: Latest financial filing (10K or 10Q)
Dilution adjustment
Source: Calculated value using Financial Edge data
Calculation: Restricted Stock Units (RSUs) + Performance Stock Units (PSUs) + Dilution from Stock Options * + Dilution from Convertible Debt*
*Dilution from stock options and convertible debt is included only where the exercise price/conversion price is below the share price
For companies with multiple share classes and disclosures do not specify the share class of the dilutive instruments, the dilution adjustment is assumed to apply to the most liquid share class.
Restricted shares and performance shares are excluded from the dilution adjustment
As of date: Latest financial filing (10K or 10Q)
Diluted shares outstanding
Source: Calculated value
Calculation: Basic shares + Dilution adjustment
As of date: Latest financial filing (10K or 10Q)
Diluted market capitalization
Source: Calculated value
Calculation: (share class * Latest share price for share class)
As of date: Number of Shares as per latest company filings (10K or 10Q) and Share Price is latest available closing share price
Net tangible equity
Source: Calculated value using Financial Edge data
Calculation: Shareholders equity – Goodwill and intangible assets
As of date: Latest financial filing (10K or 10Q)
NCI
Source: Financial Edge
Data item: Noncontrolling interest
Data is based on values reported on the face of the balance sheet
As of date: Latest financial filing (10K or 10Q)
Debt
Source: Calculated value using Financial Edge data
Calculation: Short term debt + Current portion of long term debt + Long term debt + Redeemable NCI + Convertible Debt* + Preference Shares*
*Included only where the conversion price is above the share price
Convertible debt values are based on par values where disclosed. All other data is based on values reported on the face of the balance sheet, so are net of OID and unamortized issuance fees
The calculation includes current and non-current operating lease liabilities if the “Include operating leases as debt” toggle option is selected
As of date: Latest financial filing (10K or 10Q)
After-tax pension liability
Source: Calculated value using Financial Edge data
Calculation: Pension obligation* – Pension plan assets* + Other plan obligation* – Other plan assets* – Pension liability tax shield
*Included only where the conversion price is above the share price
Convertible debt values are based on par values where disclosed. All other data is based on values reported on the face of the balance sheet, so are net of OID and unamortized issuance fees
The calculation includes current and non-current operating lease liabilities if the “Include operating leases” toggle option is selected
As of date: Latest financial filing (10K or 10Q)
Short-term financial assets and cash
Source: Calculated value using Financial Edge data
Calculation: Current marketable securities + Short term investments + Cash and cash equivalents
Data is based on values reported on the face of the balance sheet
As of date: Latest financial filing (10K or 10Q)
Long-term financial assets and cash
Source: Calculated value using Financial Edge data
Calculation: Non-current investments + Equity method investments
Data is based on values reported on the face of the balance sheet
As of date: Latest financial filing (10K or 10Q)
Enterprise value
Source: Calculated value
Calculation: Diluted market capitalization + NCI + Debt + – Short-term financial assets and cash – Long-term financial asset
The calculation includes current and non-current operating lease liabilities if the “Include operating leases as debt” toggle option is selected
Net debt for credit metrics
Source: Calculated value
Calculation: Debt including operating lease liabilities – Short-term financial assets and cash
Operating lease liabilities
Source: Calculated value using Financial Edge Data
Calculation: Current operating lease liabilities + non-current operating lease liabilities
As of date: Latest financial filing (10K or 10Q)
Annual operating lease expense
Source: Financial Edge Data
As of date: Latest annual filing (10K)
Annual stock-based comp expense
Source: Financial Edge Data
Data is based on values reported on the face of the cash flow statement
As of date: Latest annual filing (10K)
COMPARABLES
Comparable companies
Source: Financial Edge
P/E CY1
Source: Financial Edge using Finnhub Stock Price and Finnhub Stock Estimates
Calculation: Share price / [(1 – (Last FY End – Last Calendar Year End) / 365) * EPS_FY1 + (Last FY End – Last Calendar Year End) / 365 * EPS_FY2]
The calculation of CY1 EPS reflects calendarization of FY1 and FY2 consensus EPS forecasts to align with a fiscal year-end date of Dec 31.
“NM” is displayed where data is not meaningful, due to negative value.
“NA” is displayed where data is not available.
As of date: Previous market close
P/TNAV
Source: Financial Edge using Finnhub Stock Price and Financial Edge data
Calculation: Share price / [Net tangible equity / Diluted shares outstanding]
“NA” is displayed where data is not available.
As of date: Previous market close
EV / CY1 Revenue
Source: Financial Edge using Finnhub Stock Estimates
Calculation: Enterprise Value / [(1 – (Last FY End – Last Calendar Year End) / 365) * Revenue_FY1 + (Last FY End – Last Calendar Year End) / 365 * Revenue_FY2]
The calculation of CY1 Revenue reflects calendarization of FY1 and FY2 consensus Revenue forecasts to align with a fiscal year-end date of Dec 31.
EV includes current and non-current operating lease liabilities if the “Include operating leases as debt” toggle option is selected
“NA” is displayed where data is not available.
As of date: Previous market close
EV / CY1 EBITDA
Source: Financial Edge using Finnhub Stock Estimates
Calculation: Enterprise Value / [(1 – (Last FY End – Last Calendar Year End) / 365) * EBITDA_FY1 + (Last FY End – Last Calendar Year End) / 365 * EBITDA_FY2]
The calculation of CY1 EBITDA reflects calendarization of FY1 and FY2 consensus EBITDA forecasts to align with a fiscal year-end date of Dec 31.
EV includes current and non-current operating lease liabilities and EBITDAR excludes annual operating lease expense if the “Include operating leases as debt” toggle option is selected
“NM” is displayed where data is not meaningful, due to negative value.
“NA” is displayed where data is not available.
As of date: Previous market close
CY1 EBITDA Margin
Source: Financial Edge using Finnhub Stock Estimates
Calculation: CY1 EBITDA / CY1 Revenue
CY1 Revenue and CY1 EBITDA reflects calendarization of FY1 and FY2 consensus forecasts to align with a fiscal year-end date of Dec 31.
EBITDAR excludes annual operating lease expense if the “Include operating leases as debt” toggle option is selected
As of date: Previous market close
2 Year Revenue CAGR (Fwd)
Source: Financial Edge using Finnhub Stock Estimates
Calculation: (Revenue_FY2/Revenue_Actual)^(1/2) – 1
As of date: Previous market close
Total debt / LTM EBITDA
Source: Calculated value using Financial Edge data
Calculation: Debt / EBITDA_LTM
Debt includes current and non-current operating lease liabilities and EBITDAR excludes annual operating lease expense if the “Include operating leases as debt” toggle option is selected
As of date: Latest financial filing (10K or 10Q)
Debt / capital
Source: Calculated value
Calculation: Debt / (Diluted market capitalization + NCI + Debt + After-tax pension liability)
Debt and capital include current and non-current operating lease liabilities if the ‘Include operating leases as debt’ toggle option is selected
Leveraged beta
Source: Calculated using Finnhub Stock Fundamentals
Calculation: 5 Year Beta * 0.67 + 1 * 0.33
The calculation reflects the adjustment to the raw beta using the Blume method
As of date: Previous market close
EARNINGS
Revenue
Source: XigniteFactSetEstimates (Actual and LTM) Finnhub Stock Estimates (Estimates)
Actual Data item: SalesorRevenue_Actual
LTM Data items: Sum of data for last 4 quarters. Note that subsequent restatements of quarterly data are not reflected in this data at this time.
Estimate Data items: Revenue_FY1, Revenue_FY2, Revenue_FY3
As of date: Previous Market Close
Growth
Source: Calculated value
Calculation: Revenue_Period/Revenue_Prior Period
As of date: Previous Market Close
EBITDA
Source: XigniteFactSetEstimates (Actual and LTM) Finnhub Stock Estimates (Estimates)
Actual data item: EBITDA_Actual
LTM data item: Sum of data for last 4 quarters. Note that subsequent restatements of quarterly data are not reflected in this data at this time.
Estimate Data items: EBITDA_FY1, EBITDA_FY2, EBITDA_FY3
EBITDAR excludes annual operating lease expense if the “Include operating leases as debt” toggle option is selected
As of date: Previous Market Close
Margin
Source: Calculated value
EBITDAR excludes annual operating lease expense if the “Include operating leases as debt” toggle option is selected
As of date: Previous Market Close
EPS
Source: Finnhub Stock Estimates
Data items: EPS_CY1, EPS_CY2, EPS_CY3
As of date: Previous Market Close
COST OF CAPITAL
Government bond yield
Source: Federal Reserve Economic Data (FRED)
Data items:
10-year treasury constant maturity yield, 20-year treasury constant maturity yield
As of date: Previous Market Close
Historic ERP
Source: Financial Edge and Factset
Calculation: Arithmetic Average – calculated using arithmetic average annual returns on the S&P500 versus arithmetic average annual returns on US 10 year treasury bonds. Average returns are calculated on a 10 year, 20 year and 30 year historic basis.
Geometric Average – calculated using geometric average annual returns on the S&P500 versus geometric average annual returns on US 10 year treasury bonds. Average returns are calculated on a 10 year, 20 year and 30 year historic basis.
As of date: Previous month-end
Implied ERP
Source: Financial Edge and Factset
Calculation: A residual income model is used to calculate the US market cost of capital using:
-Stock market capitalization
-Book values of common equity
-Total consensus earnings, dividend and share buyback forecasts for FY1, FY2 and FY3.
-Terminal assumptions are based on the FY3 implied return on equity and US GDP growth rates
An Excel solver is used to identify the discount rate (i.e. market cost of equity) at which:
Stock market capitalization = Book values of common equity + Present value of residual income
Implied ERP = Market cost of equity – 10 Year Treasury Yield
The values in the formula above include all stocks with a market capitalization > $3bn, which are headquartered and traded on an exchange within the US.
As of date: Market values are based on previous month-end closing prices. Fundamental values use the latest annual financials available at the previous month-end. Estimates are based on the previous month-end published estimates.
Survey ERP
Source: Financial Edge
Calculation: Survey equity risk premium is based on our own survey of major global investment banks.
As of date: 31 Mar 2021
Company adjusted beta
Source: Calculated using Finnhub Stock Fundamentals
Calculation: 5 Year Beta * 0.67 + 1 * 0.33
The calculation reflects the adjustment to the raw beta using the Blume method
As of date: Previous market close
Industry adjusted beta
Source: Calculated value
Calculation: Industry unlevered beta * [1 + Industry debt / market capitalization * (1 – Marginal tax rate)]
Industry values are based on median values for peer companies listed in the comps table.
As of date: Previous market close
Est. cost of equity
Source: Calculated value
Calculation: Govt. bond yield + Adjusted Beta * Equity risk premium
The calculation reflects user options selected for government bond yields, equity risk premium, and adjusted beta.
Company unlevered beta
Source: Calculated value
Data item: Company adjusted beta / [1 + Debt / market capitalization * (1 – Marginal tax rate)]
Industry unlevered beta
Source: Calculated value
Calculation: Median {Company unlevered beta}
Median values are based on peer companies listed in the comps table.
As of date: Previous market close
Credit spread
Source: Financial Edge
Data item:
Credit spreads are selected based the company’s credit rating and industry. For companies where no credit rating data is available, a default credit rating of BBB has been used.
Credit spreads reflect average credit spreads for each credit rating and industry.
As of date: Previous month-end
Cost of debt
Source: Calculated value
Calculation: Government bond yield + credit spread
Credit rating
Source: Financial Edge and Moodys / S&P
As of date: 12months prior to latest month-end
Total debt / capitalization
Source: Calculated value
Calculation: Debt / (Diluted market capitalization + Debt + NCI)
This value is displayed where users select ‘company adjusted beta’.
As of date: Previous market close
Industry debt / capitalization
Source: Calculated value
Calculation: Median {Debt / (Diluted market capitalization + Debt + NCI)}
Median values are based on peer companies listed in the comps table.
This value is displayed where users select ‘industry adjusted beta’.
As of date: Previous market close
Total debt / market capitalization
Source: Calculated value
Calculation: Debt / Diluted market capitalization
This value is displayed where users select ‘company adjusted beta’.
As of date: Previous market close
Industry debt / market capitalization
Source: Calculated value
Calculation: Median {Debt / Diluted market capitalization}
Median values are based on peer companies listed in the comps table.
This value is displayed where users select ‘industry adjusted beta’.
As of date: Previous market close
WACC
Source: Calculated value
Calculation: Cost of equity * (1 – Debt / capitalization) + Cost of debt * Debt / capitalization * (1 – Marginal tax rate)
The calculation reflects user options selected for government bond yields, equity risk premium and adjusted beta
As of date: Previous market close
ECONOMIC DATA
Marginal tax rate
Source: Calculated value using Financial Edge data
Calculation: Federal tax rate + State tax rate
Data is based on values reported in the footnotes
As of date: Latest annual filing (10K)
Historic real GDP growth rate
Source: Federal Reserve Economic Data (FRED)
Data items: Percent change of Gross Domestic Product (seasonally adjusted annual rate)
As of date: Prior day published value, updated quarterly
Forecast real GDP growth rate
Source: Federal Reserve Economic Data (FRED)
Data items: Percent change of FOMC Economic Projections for the Growth Rate of Real GDP for 2023, Median (not seasonally adjusted)
As of date: Prior day published value, updated annually
Historic inflation rate
Source: Federal Reserve Economic Data (FRED)
Data items: Chained Consumer Price Index growth rate (latest annual, not seasonally adjusted)
As of date: Prior day published value, updated monthly
Forecast inflation rate
Source: Federal Reserve Economic Data (FRED)
Data items: Percent change of FOMC Economic Projections for Personal Consumption Expenditures Inflation Rate for 2023, Median (not seasonally adjusted)
As of date: Prior day published value, updated annually
SOFR
Source: Federal Reserve Economic Data (FRED)
Data items: Secured overnight financing rate
As of date: Prior day published value, updated daily
US 3 month Treasury Yield
Source: Federal Reserve Economic Data (FRED)
Data items: Market yield on US treasury securities at 3-month constant maturity
As of date: Prior day published value, updated daily