Aggregate and populate key financial data for companies of interest
AlphaSense's Company Financials (also known as Financials) aggregates and populates key financial data for companies of interest to you. Unless stated otherwise, the financial data in AlphaSenses Financials are analyst estimates via I/B/E/S or standardized data*.
In some cases such as EPS, we provide both reported GAAP/IFRS and adjusted numbers.
Why Historical Numbers May Not Match Reported Numbers
- I/B/E/S provides historical actual numbers from analysts. These historical numbers may include adjustments that the majority of analysts make. Therefore, they may not match reported GAAP/IFRS numbers.
- If I/B/E/S does not provide historical actuals, the closest historical estimate will be shown in its place. In EDT’s Annual Model, a subscript will indicate the number of contributing brokers.
Less Common Situations
Analyst Estimates and Multiple Share Classes:
Suppose that a stock has A and B shares.
- Some analysts will only contribute numbers for the A shares.
- Some analysts will only contribute numbers for the B shares.
- Some analysts will contribute numbers for both classes of shares.
An analyst might contribute a price target for the A shares but not the B shares. This will typically cause analyst estimate data to be different for the A and B shares, even if other financial estimates for one share class should apply to the other.
I/B/E/S Interim Numbers Don’t Add Up to the Annual Number:
This can happen because some analysts contribute annual numbers but not interim numbers (or vice versa). The subscript beneath each estimate will show the number of contributing analysts. You may notice that there are more estimates for annual numbers than there are for interim numbers.
Timelines:
- SEC filings: These are processed automatically and should be on our platform within a few minutes. Institutional Holders data from 13-F forms (EDT → Holders) may take several hours to process.
- Standardized data: It takes time for our data provider to parse the latest annual and interim filings, so this data may be delayed by a few to several days after financials are publicly-available.
- I/B/E/S: After a company releases information, it takes time for analysts to release reports with updated data and then for Thomson Reuters to parse that data. Expect a lag between I/B/E/S data and a company’s latest guidance.
More FAQs
Why should I trust AlphaSense data?
- We ran extensive analysis of many leading data providers and we came to the conclusion that all major ones had similar quality, but by utilizing Visible Alpha and supporting it with MorningStar in AlphaSense, we actually have even more depth of data- in particular, Balance Sheet and Cash Flow line items.
Does EBITDA include or exclude stock-based compensation?
- We offer multiple versions of EBITDA: “EBITDA”, “EBITDA, GAAP”, “EBITDA, Primary”, and EBITDA, Operating”. (See: terms glossary)
What ticker nomenclature is used on AlphaSense, and is it compatible with BBG, SEDOLs, ISINs, or other identifiers?
- Our user experience is primarily driven by companies, as opposed to securities or quotes. This was true for Search and it remains true for Financial Data features. Once the company is loaded in Price Monitor or in Financials, the data defaults to the primary quote of the primary security, but the user can select another quote using the dedicated dropdown selector.
What is the vetting process to include/exclude an individual estimate from consensus?
- Visible Alpha only initiates coverage on a stock when it has access to financial models from at least 3 analysts , guaranteeing a better quality of the consensus estimate.
Does the EBITDA estimate include or exclude stock-based compensation?
- EBITDA is the Adjusted EBITDA the company has reported in its supplementals notes for historical periods. If the company has not reported an EBITDA directly, we calculate it as the Operating Income minus the Depreciation and Amortization reported in the Cash Flow Statement. EBITDA is adjusted for Stock based compensation if this is the common methodology followed by the company and the sell-side community.
At what time of day does the close price get populated? Does it vary by exchange or country?
- Typically it is shortly after the Exchange closes the main session of the day, but it is only after midnight for some specific exceptions to accommodate special requirements from the Exchanges.
What is the default currency for a stock price?
- The default currency for a stock price is the currency the quote is expressed in on the exchange the quote is from. This is commonly the same currency as the country the Exchange is based in, but this could be different with some exceptions (eg: offshore listings such as London International, or alternative exchanges for international stocks such as CBOE Europe or BXTR)
How is total return calculated?
- Total return is calculated as a cumulative time series growing from the day of the oldest historical close price of a quote until today; it looks at the daily stock price change and for dividend paying stocks assumes the dividend is reinvested in the stock on the Effective Ex-Div day of the dividend.
Is the stock data real-time or delayed?
- Prices are a 15-minute delay by default, but for an additional fee a client can purchase real-time data for select exchanges
What data points are not available for most transactions?
- As companies are generally not required to disclose as much information about transactions, unless these are sizeable and involve public companies, so some metrics may remain empty based solely on company disclosures.
How accurate is Crunchbase as a data set?
- Crunchbase is one of the most common datasets for this type (e.g. funding rounds) of data. Crunchbase is strong with pre-IPO companies especially in the US and Europe. Crunchbase relies on crowd sourcing corrections. If a company or an involved 3rd party sees a bad number in the dataset, they are compelled to submit a request for correction. If information is listed there, it is usually vetted and reliable.
How does AlphaSense reconcile multiple providers to provide an accurate view of a company at the line item level?
- We conducted extensive analysis of the various sources we use to compare and match methodologies across sectors, regions and specific companies. We defined custom templates to pair as closely as possible company groups that are treated by both vendors in a similar way. We continue to monitor and fine-tune our industry and company specific models on an ongoing basis.
Does AlphaSense create company multiples based on data from multiple vendors or one in particular?
- Valuation multiples are calculated based on the same numbers offered in the Financial model and the Estimates history dataset. Forward looking multiples are therefore purely based on Estimates from VA and trailing multiples (LTM) rely on our historical model data, which is based on both vendors.
What is your calculation for LTM, TTM and NTM? Is it last four quarters or a different methodology?
- We offer NTM and LTM calculations, and both are based on summing the trailing or upcoming interim periods:
- NTM - TWA (time weighted average): this method leverages on annual estimates to extrapolate NTM in between fiscal years
- LTM based on Annual periods: Some companies only report some statements annually, so calculating LTM on the trailing interim periods doesnt work.