Updater Tool

Smart edits that keep your Canalyst model update-ready

• What is the Updater Tool?
• Updater Instructions
  • Load Your Existing Model
  • How it Works
  • Finalize & Save
• Dos and Don’ts for Canalyst Model Compatibility
  • What You Can Do
  • What You Should Avoid

What is the Updater Tool?

The Updater tool updates Canalyst Models with the latest data and improvements, without overwriting your customizations.

After you add your own rows, formulas, or worksheets to a model, you can use the Updater to bring in new data, typically after a company’s latest earnings release. The tool also incorporates enhancements made by Canalyst analysts since your last update, such as:

• New worksheets

• Additional revenue segments

• Structural improvements

By using the Updater, you keep your model current while preserving your work.

Learn more about how to get started with Canalyst Models.

Updater Instructions

Load Your Existing Model:

• Open a Canalyst Excel model you've previously customized.
• Click the Updater function in the Add-In:
• In Excel, navigate to the Canalyst Add-In, and  you'll find the updater in the ribbon if installed

How it Works:

The tool compares your local model to the most recent version in Canalyst’s database and merges changes such as new data, structural updates, or formulas.

The updater will merge:

• Your custom assumptions and forecasts
• Updated company filings or segment changes
• Structural changes like added rows or restructured segments

Finalize & Save:

After reviewing, the tool merges the updates and preserves your inputs, ensuring you're working with the latest, most accurate model.

Audit Trail

You may also leverage this tool, which provides clear citations for you to verify the information and allows for a line-by-line review before finalizing changes.
 

Dos and Don’ts for Canalyst Modeling Tools Excel Add In?

What works: 

• Add your analyses onto the Model worksheet, Drivers worksheet (if applicable), and any additional worksheets you have added.
• Add rows (between row 6 and the last row of the Balance Sheet section).
• Add extra forecast period columns using the Period Inserter button and/or manually copying the columns further to the right (just make sure you do it across all the tabs that have period headers).
• Add your own CAGRs or notes in the first 20 columns after the last fiscal year column in the Model or Drivers (if applicable) worksheets.
• Add your own worksheets and/or Canalyst drop-in templates.
• Add additional historical periods to the Model/Drivers worksheets (just make sure you keep Columns A and B intact). While they won’t automatically populate with data, you can backfill whichever relevant information you want.
• Adjust driver values and add in your own forecasts.
• Redrive the model by changing Canalyst’s formulas. 
• Change the formatting of cells (colors, fonts, etc).
• Move rows / sections around. If you do, make sure you have the "Preserve Repositioned Rows" setting enabled using the Updater Settings button.

What doesn’t work: 

• Do not edit or duplicate rows 1-5. The Updater relies on these rows to work. 
• Do not delete Canalyst worksheets.
• Do not delete Canalyst rows and/or columns on the Model or Drivers worksheets. You can hide rows or move them, but do not delete them. 
• Do not add macros, buttons, or forms controls to your files.
• Do not keep your file’s password protection on when running the Updater. To update a password protected model, you’ll need to remove the password, then use the Updater, then reenable the password.