§ Reference
Glossary
Definitions, formulas, and worked examples for the valuation, profitability, balance-sheet, and risk metrics used across our research. Each entry links to recent reports where the metric is load-bearing in the conclusion.
Looking for a teaching sequence rather than an alphabetical index? Five curated paths bundle these terms in pedagogical order at /learn.
Operating data
- Order Backlog for Computer Hardware (USD Mil)Order Backlog for Computer Hardware (USD Mil) is a company-reported operating KPI used to connect unit activit…
- Product Unit Sales (K)Product Unit Sales (K) is a company-reported operating KPI used to connect unit activity or backlog to reporte…
- Retail Net Sales (USD Mil)Retail Net Sales (USD Mil) is a company-reported operating KPI used to connect unit activity or backlog to rep…
Fundamental
- Altman Z2-ScoreAltman Z2-Score is a fundamental metric used in equity research to evaluate business quality, valuation, risk,…
- Book Value per ShareBook Value per Share is a fundamental metric used in equity research to evaluate business quality, valuation,…
- Cash per ShareCash per Share is a fundamental metric used in equity research to evaluate business quality, valuation, risk,…
- Cyclically Adjusted Book per ShareCyclically Adjusted Book per Share is a fundamental metric used in equity research to evaluate business qualit…
- Cyclically Adjusted FCF per ShareCyclically Adjusted FCF per Share is a fundamental metric used in equity research to evaluate business quality…
- Cyclically Adjusted Revenue per ShareCyclically Adjusted Revenue per Share is a fundamental metric used in equity research to evaluate business qua…
- Dividends per ShareDividends per Share is a fundamental metric used in equity research to evaluate business quality, valuation, r…
- E10E10 is a fundamental metric used in equity research to evaluate business quality, valuation, risk, or financia…
- EBIT per ShareEBIT per Share is a fundamental metric used in equity research to evaluate business quality, valuation, risk,…
- EBITDA per ShareEBITDA per Share is a fundamental metric used in equity research to evaluate business quality, valuation, risk…
- Enterprise ValueEnterprise Value is a fundamental metric used in equity research to evaluate business quality, valuation, risk…
- EPS without NRIEPS without NRI is a fundamental metric used in equity research to evaluate business quality, valuation, risk,…
- FFO per ShareFFO per Share is a fundamental metric used in equity research to evaluate business quality, valuation, risk, o…
- Financial StrengthFinancial Strength is a fundamental metric used in equity research to evaluate business quality, valuation, ri…
- Float Percentage Of Total Shares OutstandingFloat Percentage Of Total Shares Outstanding is a fundamental metric used in equity research to evaluate busin…
- Free Cash Flow per ShareFree Cash Flow per Share is a fundamental metric used in equity research to evaluate business quality, valuati…
- Growth RankGrowth Rank is a fundamental metric used in equity research to evaluate business quality, valuation, risk, or…
- Insider OwnershipInsider Ownership is a fundamental metric used in equity research to evaluate business quality, valuation, ris…
- Institutional OwnershipInstitutional Ownership is a fundamental metric used in equity research to evaluate business quality, valuatio…
- Market CapMarket Cap is a fundamental metric used in equity research to evaluate business quality, valuation, risk, or f…
- Moat ScoreMoat Score is a fundamental metric used in equity research to evaluate business quality, valuation, risk, or f…
- Mohanram G-ScoreMohanram G-Score is a fundamental metric used in equity research to evaluate business quality, valuation, risk…
- Momentum RankMomentum Rank is a fundamental metric used in equity research to evaluate business quality, valuation, risk, o…
- Net Cash per ShareNet Cash per Share is a fundamental metric used in equity research to evaluate business quality, valuation, ri…
- Net Current Asset ValueNet Current Asset Value is a fundamental metric used in equity research to evaluate business quality, valuatio…
- Net-Net Working CapitalNet-Net Working Capital is a fundamental metric used in equity research to evaluate business quality, valuatio…
- Operating Cash Flow per ShareOperating Cash Flow per Share is a fundamental metric used in equity research to evaluate business quality, va…
- Owner Earnings per Share (TTM)Owner Earnings per Share (TTM) is a fundamental metric used in equity research to evaluate business quality, v…
- Predictability RankPredictability Rank is a fundamental metric used in equity research to evaluate business quality, valuation, r…
- Probability of Financial Distress (%)Probability of Financial Distress (%) is a fundamental metric used in equity research to evaluate business qua…
- Profitability RankProfitability Rank is a fundamental metric used in equity research to evaluate business quality, valuation, ri…
- Quality RankQuality Rank is a fundamental metric used in equity research to evaluate business quality, valuation, risk, or…
- Revenue per ShareRevenue per Share is a fundamental metric used in equity research to evaluate business quality, valuation, ris…
- Risk AssessmentRisk Assessment is a fundamental metric used in equity research to evaluate business quality, valuation, risk,…
- Scaled Net Operating AssetsScaled Net Operating Assets is a fundamental metric used in equity research to evaluate business quality, valu…
- Short InterestShort Interest is a fundamental metric used in equity research to evaluate business quality, valuation, risk,…
- Short Percentage of FloatShort Percentage of Float is a fundamental metric used in equity research to evaluate business quality, valuat…
- Tangible Book per ShareTangible Book per Share is a fundamental metric used in equity research to evaluate business quality, valuatio…
- Tariff Resilience ScoreTariff Resilience Score is a fundamental metric used in equity research to evaluate business quality, valuatio…
- Total Debt per ShareTotal Debt per Share is a fundamental metric used in equity research to evaluate business quality, valuation,…
- Valuation RankValuation Rank is a fundamental metric used in equity research to evaluate business quality, valuation, risk,…
- YoY EBITDA GrowthYoY EBITDA Growth is a fundamental metric used in equity research to evaluate business quality, valuation, ris…
- YoY Rev. per Sh. GrowthYoY Rev. per Sh. Growth is a fundamental metric used in equity research to evaluate business quality, valuatio…
Valuation models
- Diluted EPSEPS computed on a fully-diluted share count that assumes all in-the-money options, RSUs, and convertibles are…Also: Earnings per Share (Diluted), EPS (Diluted)
- Discounted cash flowValuation method that projects future free cash flows and discounts them back to present value using a risk-ad…
- Earnings per shareNet income divided by weighted-average diluted shares outstanding. The headline accounting earnings figure on…
- Fair valueOur composite estimate of intrinsic per-share value, blended across DCF, exit-multiple, and reverse-DCF method…Also: Fair Value
- Free cash flow to equityCash flow available to equity holders after interest, principal repayments, and net new borrowing. Discounted…
- Free cash flow to firmCash flow available to all capital providers (debt and equity) before financing costs. Discounted at WACC to d…
- Intrinsic valueThe discounted present value of all cash a business will produce over its remaining life. The theoretical anch…
- Owner earningsBuffett-method cash earnings: net income plus D&A minus maintenance capex. A floor estimate of the cash a busi…
- Residual incomeNet income minus a charge for the cost of equity capital. Positive residual income means the business is earni…
- Reverse DCFInverts a standard DCF: instead of solving for fair value, we solve for the growth rate the current price alre…
- Terminal multipleThe exit P/E or EV/EBITDA we apply to the final year of an explicit forecast. Anchored to the business's long-…
- Terminal P/EThe exit P/E multiple applied to the final-year EPS in a forward-earnings model. Set conservatively based on a…
- Terminal valueValue attributed to all cash flows beyond the explicit forecast horizon. Computed via Gordon growth or exit-mu…
Price and intrinsic value
- 1-Year Sharpe Ratio1-Year Sharpe Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated va…
- 1-Year Sortino Ratio1-Year Sortino Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated v…
- 10-Year Sharpe Ratio10-Year Sharpe Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated v…
- 10-Year Sortino Ratio10-Year Sortino Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated…
- 3-Year Sharpe Ratio3-Year Sharpe Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated va…
- 3-Year Sortino Ratio3-Year Sortino Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated v…
- 5-Year Sharpe Ratio5-Year Sharpe Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated va…
- 5-Year Sortino Ratio5-Year Sortino Ratio is a price, risk, or intrinsic-value metric used to compare market price with estimated v…
- Earnings Power Value (EPV)Earnings Power Value (EPV) is a price, risk, or intrinsic-value metric used to compare market price with estim…
- Graham NumberGraham Number is a price, risk, or intrinsic-value metric used to compare market price with estimated value or…
- Intrinsic Value: DCF (Dividends Based)Intrinsic Value: DCF (Dividends Based) is a price, risk, or intrinsic-value metric used to compare market pric…
- Intrinsic Value: DCF (Earnings Based)Intrinsic Value: DCF (Earnings Based) is a price, risk, or intrinsic-value metric used to compare market price…
- Intrinsic Value: DCF (FCF Based)Intrinsic Value: DCF (FCF Based) is a price, risk, or intrinsic-value metric used to compare market price with…
- Intrinsic Value: Projected FCFIntrinsic Value: Projected FCF is a price, risk, or intrinsic-value metric used to compare market price with e…
- Margin of Safety % (DCF Dividends Based)Margin of Safety % (DCF Dividends Based) is a price, risk, or intrinsic-value metric used to compare market pr…
- Margin of Safety % (DCF Earnings Based)Margin of Safety % (DCF Earnings Based) is a price, risk, or intrinsic-value metric used to compare market pri…
- Margin of Safety % (DCF FCF Based)Margin of Safety % (DCF FCF Based) is a price, risk, or intrinsic-value metric used to compare market price wi…
- Median PS ValueMedian PS Value is a price, risk, or intrinsic-value metric used to compare market price with estimated value…
- Peter Lynch Fair ValuePeter Lynch Fair Value is a price, risk, or intrinsic-value metric used to compare market price with estimated…
- VolatilityVolatility is a price, risk, or intrinsic-value metric used to compare market price with estimated value or hi…
Valuation ratios
- 1-Year ROIIC %1-Year ROIIC % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- 1-Year Share Buyback Ratio1-Year Share Buyback Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash ge…
- 10-Year ROIIC %10-Year ROIIC % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, l…
- 10-Year RORE %10-Year RORE % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- 10-Year Share Buyback Ratio10-Year Share Buyback Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash g…
- 3-Month Share Buyback Ratio3-Month Share Buyback Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash g…
- 3-Year ROIIC %3-Year ROIIC % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- 3-Year RORE %3-Year RORE % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, lev…
- 3-Year Share Buyback Ratio3-Year Share Buyback Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash ge…
- 5-Year ROIIC %5-Year ROIIC % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- 5-Year RORE %5-Year RORE % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, lev…
- 5-Year Share Buyback Ratio5-Year Share Buyback Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash ge…
- 6-Month Share Buyback Ratio6-Month Share Buyback Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash g…
- Asset TurnoverAsset Turnover is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- Buyback Yield %Buyback Yield % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, l…
- Capex-to-Operating-Cash-FlowCapex-to-Operating-Cash-Flow is a valuation or efficiency ratio used to compare price, enterprise value, cash…
- Capex-to-Operating-IncomeCapex-to-Operating-Income is a valuation or efficiency ratio used to compare price, enterprise value, cash gen…
- Capex-to-RevenueCapex-to-Revenue is a valuation or efficiency ratio used to compare price, enterprise value, cash generation,…
- Cash Conversion CycleCash Conversion Cycle is a valuation or efficiency ratio used to compare price, enterprise value, cash generat…
- Cash RatioCash Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, levera…
- Cash-to-DebtCash-to-Debt is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, leve…
- COGS-to-RevenueCOGS-to-Revenue is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, l…
- Cyclically Adjusted PB RatioCyclically Adjusted PB Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash…
- Cyclically Adjusted Price-to-FCFCyclically Adjusted Price-to-FCF is a valuation or efficiency ratio used to compare price, enterprise value, c…
- Cyclically Adjusted PS RatioCyclically Adjusted PS Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash…
- Days InventoryDays Inventory is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- Days PayableDays Payable is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, leve…
- Days Sales OutstandingDays Sales Outstanding is a valuation or efficiency ratio used to compare price, enterprise value, cash genera…
- Debt-to-AssetDebt-to-Asset is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, lev…
- Debt-to-EBITDADebt-to-EBITDA is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- Debt-to-EquityDebt-to-Equity is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, le…
- Debt-to-RevenueDebt-to-Revenue is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, l…
- Defensive Interval RatioDefensive Interval Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash gene…
- Degree of Financial LeverageDegree of Financial Leverage is a valuation or efficiency ratio used to compare price, enterprise value, cash…
- Degree of Operating LeverageDegree of Operating Leverage is a valuation or efficiency ratio used to compare price, enterprise value, cash…
- Earnings Yield (Joel Greenblatt) %Earnings Yield (Joel Greenblatt) % is a valuation or efficiency ratio used to compare price, enterprise value,…
- Effective Interest Rate on Debt %Effective Interest Rate on Debt % is a valuation or efficiency ratio used to compare price, enterprise value,…
- Equity-to-AssetEquity-to-Asset is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, l…
- EV-to-EBITEV-to-EBIT is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, levera…
- EV-to-FCFEV-to-FCF is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, leverag…
- EV-to-OCFEV-to-OCF is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, leverag…
- Forward Rate of Return (Yacktman) %Forward Rate of Return (Yacktman) % is a valuation or efficiency ratio used to compare price, enterprise value…
- Goodwill-to-AssetGoodwill-to-Asset is a valuation or efficiency ratio used to compare price, enterprise value, cash generation,…
- Gross-Profit-to-Asset %Gross-Profit-to-Asset % is a valuation or efficiency ratio used to compare price, enterprise value, cash gener…
- Inventory TurnoverInventory Turnover is a valuation or efficiency ratio used to compare price, enterprise value, cash generation…
- Inventory-to-RevenueInventory-to-Revenue is a valuation or efficiency ratio used to compare price, enterprise value, cash generati…
- Liabilities-to-AssetsLiabilities-to-Assets is a valuation or efficiency ratio used to compare price, enterprise value, cash generat…
- LT-Debt-to-Total-AssetLT-Debt-to-Total-Asset is a valuation or efficiency ratio used to compare price, enterprise value, cash genera…
- Net Debt Paydown Yield %Net Debt Paydown Yield % is a valuation or efficiency ratio used to compare price, enterprise value, cash gene…
- OCF Yield %OCF Yield % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, lever…
- PE Ratio without NRIPE Ratio without NRI is a valuation or efficiency ratio used to compare price, enterprise value, cash generati…
- Price-to-Free-Cash-FlowPrice-to-Free-Cash-Flow is a valuation or efficiency ratio used to compare price, enterprise value, cash gener…
- Price-to-Funds-From-OperationsPrice-to-Funds-From-Operations is a valuation or efficiency ratio used to compare price, enterprise value, cas…
- Price-to-Operating-Cash-FlowPrice-to-Operating-Cash-Flow is a valuation or efficiency ratio used to compare price, enterprise value, cash…
- Price-to-Owner-EarningsPrice-to-Owner-Earnings is a valuation or efficiency ratio used to compare price, enterprise value, cash gener…
- Price-to-Tangible-BookPrice-to-Tangible-Book is a valuation or efficiency ratio used to compare price, enterprise value, cash genera…
- PS RatioPS Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, leverage…
- Receivables TurnoverReceivables Turnover is a valuation or efficiency ratio used to compare price, enterprise value, cash generati…
- Return-on-Tangible-AssetReturn-on-Tangible-Asset is a valuation or efficiency ratio used to compare price, enterprise value, cash gene…
- Return-on-Tangible-EquityReturn-on-Tangible-Equity is a valuation or efficiency ratio used to compare price, enterprise value, cash gen…
- ROC (Joel Greenblatt) %ROC (Joel Greenblatt) % is a valuation or efficiency ratio used to compare price, enterprise value, cash gener…
- ROC %ROC % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, leverage, o…
- ROE % Adjusted to Book ValueROE % Adjusted to Book Value is a valuation or efficiency ratio used to compare price, enterprise value, cash…
- Shareholder Yield %Shareholder Yield % is a valuation or efficiency ratio used to compare price, enterprise value, cash generatio…
- Shares Buyback Ratio %Shares Buyback Ratio % is a valuation or efficiency ratio used to compare price, enterprise value, cash genera…
- Shiller PE RatioShiller PE Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash generation,…
- Short RatioShort Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, lever…
- Sloan Ratio %Sloan Ratio % is a valuation or efficiency ratio used to compare price, enterprise value, cash generation, lev…
- Total Payout RatioTotal Payout Ratio is a valuation or efficiency ratio used to compare price, enterprise value, cash generation…
- Total Payout Yield %Total Payout Yield % is a valuation or efficiency ratio used to compare price, enterprise value, cash generati…
Multiples and ratios
- Dividend yieldTrailing or indicated annual dividend divided by share price. The cash income return on equity, before any cap…Also: Dividend Yield %
- Earnings yieldInverse of P/E: trailing or forward EPS divided by share price, expressed as a percentage. The intuitive bond-…Also: Earnings Yield %
- EV/EBITDAEnterprise value divided by EBITDA. A capital-structure-neutral multiple commonly used for cross-cohort compar…Also: EV-to-EBITDA
- EV/SalesEnterprise value divided by trailing or forward revenue. Useful for early-stage or unprofitable companies wher…Also: EV-to-Revenue
- FCF yieldFree cash flow per share divided by current price. A direct cash-on-cash return ignoring growth — a useful san…Also: FCF Yield %
- Forward P/ECurrent share price divided by the next-twelve-months EPS estimate. Less backward-looking than trailing P/E an…Also: Forward PE Ratio
- P/E ratioPrice-to-earnings ratio: current share price divided by trailing twelve-month earnings per share. The most-cit…Also: PE Ratio, PE Ratio (TTM)
- Payout ratioDividends per share divided by EPS. Measures how much of earnings the company distributes versus retains for r…Also: Dividend Payout Ratio
- PEG ratioForward P/E divided by growth rate as integer percent (e.g. 20 for 20% growth). A PEG of 1.0 is the convention…Also: PEG Ratio
- Price-to-book ratioShare price divided by book value per share. Most useful for financials and asset-heavy businesses where book…Also: PB Ratio
Cost of capital
- BetaA statistical measure of a stock's price sensitivity relative to the market. We use an adjusted beta (raw, sec…Also: Beta
- CAPMCapital Asset Pricing Model. The standard framework for computing required equity returns: risk-free rate plus…
- Cost of debtThe marginal pre-tax interest rate the company would pay on new borrowing today. Used in WACC after applying t…
- Cost of equityThe required return on equity capital, derived via CAPM (risk-free rate + beta × equity-risk premium). Used to…
- Equity risk premiumThe additional return investors demand for holding the equity market over the risk-free rate. Currently approx…
- Risk-free rateThe return on a default-free, duration-matched government bond. We use the ten-year U.S. Treasury yield as the…
- WACCWeighted average cost of capital. The blended after-tax discount rate applied to free cash flows in a DCF, ref…Also: WACC %
Returns on capital
- Economic profit(ROIC − WACC) × Average invested capital. The dollar amount of value the business creates over its capital cos…
- Return on assetsNet income divided by average total assets. Measures capital-efficiency before financial leverage; lower than…Also: ROA %
- Return on capital employedEBIT divided by capital employed (debt + equity − cash). A pre-tax cousin of ROIC commonly used in European re…Also: ROCE %
- Return on equityNet income divided by average shareholder equity. The return generated for equity holders specifically; primar…Also: ROE %
- Return on incremental invested capitalMarginal NOPAT growth divided by marginal invested-capital growth. Measures the return earned on capital reinv…
- ROICReturn on invested capital. Operating profit (after tax) divided by invested capital. The single best gauge of…Also: ROIC %
Profitability
- Net Interest Margin (Bank Only) %Net Interest Margin (Bank Only) % measures how much profit or cash flow a company keeps from each dollar of re…
- OCF Margin %OCF Margin % measures how much profit or cash flow a company keeps from each dollar of revenue or interest-ear…
- Pretax Margin %Pretax Margin % measures how much profit or cash flow a company keeps from each dollar of revenue or interest-…
Margins and profitability
- EBITDA marginEBITDA divided by revenue. A capital-intensity-neutral profitability measure favored in M&A, credit analysis,…Also: EBITDA Margin %
- Free cash flow marginFree cash flow divided by revenue. Captures the cash-generation efficiency of the business — what survives all…Also: FCF Margin %
- Gross marginRevenue minus cost of goods sold, divided by revenue. The first-line indicator of pricing power and unit econo…Also: Gross Margin %
- Net marginNet income divided by revenue. Captures the percentage of each revenue dollar that survives all costs, taxes,…Also: Net Margin %
- Operating marginOperating income (EBIT) divided by revenue. Captures profitability after both direct costs and operating expen…Also: Operating Margin %
Dividends
- 3-Year Dividend Growth Rate3-Year Dividend Growth Rate measures dividend income, dividend growth, or dividend coverage. It should be pair…
- 5-Year Dividend Growth Rate5-Year Dividend Growth Rate measures dividend income, dividend growth, or dividend coverage. It should be pair…
- 5-Year Yield-on-Cost %5-Year Yield-on-Cost % measures dividend income, dividend growth, or dividend coverage. It should be paired wi…
- Dividend-Payout-to-FFODividend-Payout-to-FFO measures dividend income, dividend growth, or dividend coverage. It should be paired wi…
- Forward Dividend Yield %Forward Dividend Yield % measures dividend income, dividend growth, or dividend coverage. It should be paired…
Income statement
- Cost of Goods SoldCost of Goods Sold is an income-statement line item used to reconcile revenue to operating profit, pre-tax inc…
- Credit Losses ProvisionCredit Losses Provision is an income-statement line item used to reconcile revenue to operating profit, pre-ta…
- Depreciation, Depletion and AmortizationDepreciation, Depletion and Amortization is an income-statement line item used to reconcile revenue to operati…
- EBITEBIT is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net incom…
- EBITDAEBITDA is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net inc…
- EPS (Basic)EPS (Basic) is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, ne…
- Fees and Other IncomeFees and Other Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax…
- General and Admin. ExpenseGeneral and Admin. Expense is an income-statement line item used to reconcile revenue to operating profit, pre…
- Gross ProfitGross Profit is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, n…
- Interest ExpenseInterest Expense is an income-statement line item used to reconcile revenue to operating profit, pre-tax incom…
- Interest Expense (Positive)Interest Expense (Positive) is an income-statement line item used to reconcile revenue to operating profit, pr…
- Interest IncomeInterest Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax income…
- Net IncomeNet Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net…
- Net Income (Continuing Operations)Net Income (Continuing Operations) is an income-statement line item used to reconcile revenue to operating pro…
- Net Income (Discontinued Operations)Net Income (Discontinued Operations) is an income-statement line item used to reconcile revenue to operating p…
- Net Income Including Noncontrolling InterestsNet Income Including Noncontrolling Interests is an income-statement line item used to reconcile revenue to op…
- Net Interest IncomeNet Interest Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax in…
- Net Interest Income (for Banks)Net Interest Income (for Banks) is an income-statement line item used to reconcile revenue to operating profit…
- Net Investment IncomeNet Investment Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax…
- Net Policyholder Benefits/ClaimsNet Policyholder Benefits/Claims is an income-statement line item used to reconcile revenue to operating profi…
- Non Interest IncomeNon Interest Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax in…
- Non Operating IncomeNon Operating Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax i…
- Operating IncomeOperating Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax incom…
- Other ExpenseOther Expense is an income-statement line item used to reconcile revenue to operating profit, pre-tax income,…
- Other Income (Expense)Other Income (Expense) is an income-statement line item used to reconcile revenue to operating profit, pre-tax…
- Other Income (Minority Interest)Other Income (Minority Interest) is an income-statement line item used to reconcile revenue to operating profi…
- Other Net Income (Loss)Other Net Income (Loss) is an income-statement line item used to reconcile revenue to operating profit, pre-ta…
- Other Noninterest ExpenseOther Noninterest Expense is an income-statement line item used to reconcile revenue to operating profit, pre-…
- Other Operating ExpenseOther Operating Expense is an income-statement line item used to reconcile revenue to operating profit, pre-ta…
- Policy Acquisition ExpensePolicy Acquisition Expense is an income-statement line item used to reconcile revenue to operating profit, pre…
- Pre-Tax IncomePre-Tax Income is an income-statement line item used to reconcile revenue to operating profit, pre-tax income,…
- Preferred DividendsPreferred Dividends is an income-statement line item used to reconcile revenue to operating profit, pre-tax in…
- Research & DevelopmentResearch & Development is an income-statement line item used to reconcile revenue to operating profit, pre-tax…
- RevenueRevenue is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net in…
- Selling and Marketing ExpenseSelling and Marketing Expense is an income-statement line item used to reconcile revenue to operating profit,…
- Selling, General, & Admin. ExpenseSelling, General, & Admin. Expense is an income-statement line item used to reconcile revenue to operating pro…
- Shares Outstanding (Basic Average)Shares Outstanding (Basic Average) is an income-statement line item used to reconcile revenue to operating pro…
- Shares Outstanding (Diluted Average)Shares Outstanding (Diluted Average) is an income-statement line item used to reconcile revenue to operating p…
- SpecialChargesSpecialCharges is an income-statement line item used to reconcile revenue to operating profit, pre-tax income,…
- Tax ExpenseTax Expense is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, ne…
- Tax ProvisionTax Provision is an income-statement line item used to reconcile revenue to operating profit, pre-tax income,…
- Tax Rate %Tax Rate % is an income-statement line item used to reconcile revenue to operating profit, pre-tax income, net…
- Total ExpensesTotal Expenses is an income-statement line item used to reconcile revenue to operating profit, pre-tax income,…
- Total Noninterest ExpenseTotal Noninterest Expense is an income-statement line item used to reconcile revenue to operating profit, pre-…
- Total Operating ExpenseTotal Operating Expense is an income-statement line item used to reconcile revenue to operating profit, pre-ta…
- Total Premiums EarnedTotal Premiums Earned is an income-statement line item used to reconcile revenue to operating profit, pre-tax…
Cash flow
- Capital expendituresCash spent on acquiring or upgrading property, plant, and equipment. Splits into maintenance capex (sustaining…Also: Capital Expenditure, Purchase Of Property, Plant, Equipment
- DilutionThe increase in share count over time, typically driven by SBC vesting, equity issuance, or M&A in stock. Redu…
- Free cash flowOperating cash flow minus capital expenditures. The cash a business generates after maintaining and growing it…Also: Free Cash Flow
- Maintenance capexCapex required to sustain current revenue and capacity. Approximately equal to depreciation in steady-state. S…
- Operating cash flowCash generated from the company's core operations after working-capital changes but before capital expenditure…Also: Cash Flow from Operations
- Share buybackCompany purchases of its own shares, retired or held as treasury stock. Returns capital to remaining sharehold…Also: Repurchase of Stock
- Shares outstandingThe total number of common shares currently held by all shareholders, including insiders. Reported as basic (i…
- Stock-based compensationThe fair-value cost of equity awards (options, RSUs, performance shares) granted to employees. A real economic…Also: Stock Based Compensation
Cash flow statement
- All Taxes PaidAll Taxes Paid is a cash-flow statement item that reconciles net income, investing activity, financing activit…
- Asset Impairment ChargeAsset Impairment Charge is a cash-flow statement item that reconciles net income, investing activity, financin…
- Beginning Cash PositionBeginning Cash Position is a cash-flow statement item that reconciles net income, investing activity, financin…
- Cash Flow for DividendsCash Flow for Dividends is a cash-flow statement item that reconciles net income, investing activity, financin…
- Cash Flow for Lease FinancingCash Flow for Lease Financing is a cash-flow statement item that reconciles net income, investing activity, fi…
- Cash Flow from Discontinued OperationsCash Flow from Discontinued Operations is a cash-flow statement item that reconciles net income, investing act…
- Cash Flow from FinancingCash Flow from Financing is a cash-flow statement item that reconciles net income, investing activity, financi…
- Cash Flow from InvestingCash Flow from Investing is a cash-flow statement item that reconciles net income, investing activity, financi…
- Cash Flow from OthersCash Flow from Others is a cash-flow statement item that reconciles net income, investing activity, financing…
- Cash From Discontinued Investing ActivitiesCash From Discontinued Investing Activities is a cash-flow statement item that reconciles net income, investin…
- Cash from Discontinued Operating ActivitiesCash from Discontinued Operating Activities is a cash-flow statement item that reconciles net income, investin…
- Cash From Other Investing ActivitiesCash From Other Investing Activities is a cash-flow statement item that reconciles net income, investing activ…
- Cash Paid for Insurance ActivitiesCash Paid for Insurance Activities is a cash-flow statement item that reconciles net income, investing activit…
- Cash PaymentsCash Payments is a cash-flow statement item that reconciles net income, investing activity, financing activity…
- Cash Payments for Deposits by Banks and CustomersCash Payments for Deposits by Banks and Customers is a cash-flow statement item that reconciles net income, in…
- Cash Payments for LoansCash Payments for Loans is a cash-flow statement item that reconciles net income, investing activity, financin…
- Cash Receipts from Deposits by Banks and CustomersCash Receipts from Deposits by Banks and Customers is a cash-flow statement item that reconciles net income, i…
- Cash Receipts from Fees and CommissionsCash Receipts from Fees and Commissions is a cash-flow statement item that reconciles net income, investing ac…
- Cash Receipts from LoansCash Receipts from Loans is a cash-flow statement item that reconciles net income, investing activity, financi…
- Cash Receipts from Operating ActivitiesCash Receipts from Operating Activities is a cash-flow statement item that reconciles net income, investing ac…
- Cash Receipts from Securities Related ActivitiesCash Receipts from Securities Related Activities is a cash-flow statement item that reconciles net income, inv…
- Cash Receipts from Tax RefundsCash Receipts from Tax Refunds is a cash-flow statement item that reconciles net income, investing activity, f…
- Cash Received from Insurance ActivitiesCash Received from Insurance Activities is a cash-flow statement item that reconciles net income, investing ac…
- Change In InventoryChange In Inventory is a cash-flow statement item that reconciles net income, investing activity, financing ac…
- Change In Other Working CapitalChange In Other Working Capital is a cash-flow statement item that reconciles net income, investing activity,…
- Change In Payables And Accrued ExpenseChange In Payables And Accrued Expense is a cash-flow statement item that reconciles net income, investing act…
- Change In Prepaid AssetsChange In Prepaid Assets is a cash-flow statement item that reconciles net income, investing activity, financi…
- Change In ReceivablesChange In Receivables is a cash-flow statement item that reconciles net income, investing activity, financing…
- Change In Working CapitalChange In Working Capital is a cash-flow statement item that reconciles net income, investing activity, financ…
- Deferred TaxDeferred Tax is a cash-flow statement item that reconciles net income, investing activity, financing activity,…
- Dividends PaidDividends Paid is a cash-flow statement item that reconciles net income, investing activity, financing activit…
- Dividends ReceivedDividends Received is a cash-flow statement item that reconciles net income, investing activity, financing act…
- Effect of Exchange Rate ChangesEffect of Exchange Rate Changes is a cash-flow statement item that reconciles net income, investing activity,…
- Ending Cash PositionEnding Cash Position is a cash-flow statement item that reconciles net income, investing activity, financing a…
- FFOFFO is a cash-flow statement item that reconciles net income, investing activity, financing activity, or the c…
- Interest and Commission PaidInterest and Commission Paid is a cash-flow statement item that reconciles net income, investing activity, fin…
- Interest PaidInterest Paid is a cash-flow statement item that reconciles net income, investing activity, financing activity…
- Interest ReceivedInterest Received is a cash-flow statement item that reconciles net income, investing activity, financing acti…
- Issuance of DebtIssuance of Debt is a cash-flow statement item that reconciles net income, investing activity, financing activ…
- Issuance of StockIssuance of Stock is a cash-flow statement item that reconciles net income, investing activity, financing acti…
- Net Change in CashNet Change in Cash is a cash-flow statement item that reconciles net income, investing activity, financing act…
- Net Income From Continuing OperationsNet Income From Continuing Operations is a cash-flow statement item that reconciles net income, investing acti…
- Net Intangibles Purchase And SaleNet Intangibles Purchase And Sale is a cash-flow statement item that reconciles net income, investing activity…
- Net Issuance of DebtNet Issuance of Debt is a cash-flow statement item that reconciles net income, investing activity, financing a…
- Net Issuance of Preferred StockNet Issuance of Preferred Stock is a cash-flow statement item that reconciles net income, investing activity,…
- Other Cash Payments from Operating ActivitiesOther Cash Payments from Operating Activities is a cash-flow statement item that reconciles net income, invest…
- Other Cash Receipts from Operating ActivitiesOther Cash Receipts from Operating Activities is a cash-flow statement item that reconciles net income, invest…
- Other FinancingOther Financing is a cash-flow statement item that reconciles net income, investing activity, financing activi…
- Payments of DebtPayments of Debt is a cash-flow statement item that reconciles net income, investing activity, financing activ…
- Payments on Behalf of EmployeesPayments on Behalf of Employees is a cash-flow statement item that reconciles net income, investing activity,…
- Payments to Suppliers for Goods and ServicesPayments to Suppliers for Goods and Services is a cash-flow statement item that reconciles net income, investi…
- Purchase Of BusinessPurchase Of Business is a cash-flow statement item that reconciles net income, investing activity, financing a…
- Purchase Of InvestmentPurchase Of Investment is a cash-flow statement item that reconciles net income, investing activity, financing…
- Receipts from CustomersReceipts from Customers is a cash-flow statement item that reconciles net income, investing activity, financin…
- Receipts from Government GrantsReceipts from Government Grants is a cash-flow statement item that reconciles net income, investing activity,…
- Sale Of BusinessSale Of Business is a cash-flow statement item that reconciles net income, investing activity, financing activ…
- Sale Of InvestmentSale Of Investment is a cash-flow statement item that reconciles net income, investing activity, financing act…
- Sale Of Property, Plant, EquipmentSale Of Property, Plant, Equipment is a cash-flow statement item that reconciles net income, investing activit…
- Taxes Refund PaidTaxes Refund Paid is a cash-flow statement item that reconciles net income, investing activity, financing acti…
Balance sheet
- Accounts PayableAccounts Payable is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific r…
- Accounts Payable & Accrued ExpenseAccounts Payable & Accrued Expense is a balance-sheet line item that describes assets, liabilities, equity, or…
- Accounts Payable & Accrued Expense for Financial CompaniesAccounts Payable & Accrued Expense for Financial Companies is a balance-sheet line item that describes assets,…
- Accounts ReceivableAccounts Receivable is a balance-sheet line item that describes assets, liabilities, equity, or sector-specifi…
- Accumulated DepreciationAccumulated Depreciation is a balance-sheet line item that describes assets, liabilities, equity, or sector-sp…
- Accumulated other comprehensive income (loss)Accumulated other comprehensive income (loss) is a balance-sheet line item that describes assets, liabilities,…
- Additional Paid-In CapitalAdditional Paid-In Capital is a balance-sheet line item that describes assets, liabilities, equity, or sector-…
- Allowance For Loans And Lease LossesAllowance For Loans And Lease Losses is a balance-sheet line item that describes assets, liabilities, equity,…
- Balance Sheet Cash And Cash EquivalentsBalance Sheet Cash And Cash Equivalents is a balance-sheet line item that describes assets, liabilities, equit…
- Buildings And ImprovementsBuildings And Improvements is a balance-sheet line item that describes assets, liabilities, equity, or sector-…
- Cash And Cash EquivalentsCash And Cash Equivalents is a balance-sheet line item that describes assets, liabilities, equity, or sector-s…
- Cash, Cash Equivalents, Marketable SecuritiesCash, Cash Equivalents, Marketable Securities is a balance-sheet line item that describes assets, liabilities,…
- Common StockCommon Stock is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific reser…
- Construction In ProgressConstruction In Progress is a balance-sheet line item that describes assets, liabilities, equity, or sector-sp…
- Current Accrued ExpenseCurrent Accrued Expense is a balance-sheet line item that describes assets, liabilities, equity, or sector-spe…
- Current Deferred RevenueCurrent Deferred Revenue is a balance-sheet line item that describes assets, liabilities, equity, or sector-sp…
- Current Deferred Taxes LiabilitiesCurrent Deferred Taxes Liabilities is a balance-sheet line item that describes assets, liabilities, equity, or…
- Current ratioCurrent assets divided by current liabilities. A near-term liquidity measure: above 1.0 means the company can…Also: Current Ratio
- Deferred Policy Acquisition CostsDeferred Policy Acquisition Costs is a balance-sheet line item that describes assets, liabilities, equity, or…
- DeferredTaxAndRevenueDeferredTaxAndRevenue is a balance-sheet line item that describes assets, liabilities, equity, or sector-speci…
- Equity InvestmentsEquity Investments is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Fixed Maturity InvestmentFixed Maturity Investment is a balance-sheet line item that describes assets, liabilities, equity, or sector-s…
- Future Policy BenefitsFuture Policy Benefits is a balance-sheet line item that describes assets, liabilities, equity, or sector-spec…
- GoodwillGoodwill is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific reserves…
- Gross LoanGross Loan is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific reserve…
- Gross Property, Plant and EquipmentGross Property, Plant and Equipment is a balance-sheet line item that describes assets, liabilities, equity, o…
- Intangible AssetsIntangible Assets is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Interest coverageEBIT (or EBITDA) divided by interest expense. Measures how comfortably operating profit covers debt-service ob…Also: Interest Coverage
- Inventories, Finished GoodsInventories, Finished Goods is a balance-sheet line item that describes assets, liabilities, equity, or sector…
- Inventories, Inventories AdjustmentsInventories, Inventories Adjustments is a balance-sheet line item that describes assets, liabilities, equity,…
- Inventories, OtherInventories, Other is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Inventories, Raw Materials & ComponentsInventories, Raw Materials & Components is a balance-sheet line item that describes assets, liabilities, equit…
- Inventories, Work In ProcessInventories, Work In Process is a balance-sheet line item that describes assets, liabilities, equity, or secto…
- Investments And AdvancesInvestments And Advances is a balance-sheet line item that describes assets, liabilities, equity, or sector-sp…
- Land And ImprovementsLand And Improvements is a balance-sheet line item that describes assets, liabilities, equity, or sector-speci…
- LeverageThe proportion of debt in the company's capital structure. Commonly measured as Debt/EBITDA, Debt/Equity, or N…
- Loans ReceivableLoans Receivable is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific r…
- Long-Term Capital Lease ObligationLong-Term Capital Lease Obligation is a balance-sheet line item that describes assets, liabilities, equity, or…
- Long-Term DebtLong-Term Debt is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific res…
- Long-Term Debt & Capital Lease ObligationLong-Term Debt & Capital Lease Obligation is a balance-sheet line item that describes assets, liabilities, equ…
- Machinery, Furniture, EquipmentMachinery, Furniture, Equipment is a balance-sheet line item that describes assets, liabilities, equity, or se…
- Marketable SecuritiesMarketable Securities is a balance-sheet line item that describes assets, liabilities, equity, or sector-speci…
- Minority InterestMinority Interest is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Money Market InvestmentsMoney Market Investments is a balance-sheet line item that describes assets, liabilities, equity, or sector-sp…
- Net debtTotal debt minus cash and short-term investments. The amount of debt a company would still owe if it used all…
- Net LoanNet Loan is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific reserves…
- NonCurrent Deferred Income TaxNonCurrent Deferred Income Tax is a balance-sheet line item that describes assets, liabilities, equity, or sec…
- NonCurrent Deferred LiabilitiesNonCurrent Deferred Liabilities is a balance-sheet line item that describes assets, liabilities, equity, or se…
- NonCurrent Deferred RevenueNonCurrent Deferred Revenue is a balance-sheet line item that describes assets, liabilities, equity, or sector…
- Notes ReceivableNotes Receivable is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific r…
- Other Assets for BanksOther Assets for Banks is a balance-sheet line item that describes assets, liabilities, equity, or sector-spec…
- Other Assets for Insurance CompaniesOther Assets for Insurance Companies is a balance-sheet line item that describes assets, liabilities, equity,…
- Other Current AssetsOther Current Assets is a balance-sheet line item that describes assets, liabilities, equity, or sector-specif…
- Other Current LiabilitiesOther Current Liabilities is a balance-sheet line item that describes assets, liabilities, equity, or sector-s…
- Other Current PayablesOther Current Payables is a balance-sheet line item that describes assets, liabilities, equity, or sector-spec…
- Other Current ReceivablesOther Current Receivables is a balance-sheet line item that describes assets, liabilities, equity, or sector-s…
- Other Gross PPEOther Gross PPE is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific re…
- Other Liabilities for BanksOther Liabilities for Banks is a balance-sheet line item that describes assets, liabilities, equity, or sector…
- Other Liabilities for Insurance CompaniesOther Liabilities for Insurance Companies is a balance-sheet line item that describes assets, liabilities, equ…
- Other Long Term AssetsOther Long Term Assets is a balance-sheet line item that describes assets, liabilities, equity, or sector-spec…
- Other Long-Term LiabilitiesOther Long-Term Liabilities is a balance-sheet line item that describes assets, liabilities, equity, or sector…
- Other Stockholders EquityOther Stockholders Equity is a balance-sheet line item that describes assets, liabilities, equity, or sector-s…
- PensionAndRetirementBenefitPensionAndRetirementBenefit is a balance-sheet line item that describes assets, liabilities, equity, or sector…
- Policyholder FundsPolicyholder Funds is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Preferred StockPreferred Stock is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific re…
- Property, Plant and EquipmentProperty, Plant and Equipment is a balance-sheet line item that describes assets, liabilities, equity, or sect…
- Quick ratioCurrent assets excluding inventory, divided by current liabilities. A stricter near-term liquidity measure for…Also: Quick Ratio
- Retained EarningsRetained Earnings is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Securities & InvestmentsSecurities & Investments is a balance-sheet line item that describes assets, liabilities, equity, or sector-sp…
- Shares Outstanding (EOP)Shares Outstanding (EOP) is a balance-sheet line item that describes assets, liabilities, equity, or sector-sp…
- Short-Term Capital Lease ObligationShort-Term Capital Lease Obligation is a balance-sheet line item that describes assets, liabilities, equity, o…
- Short-Term DebtShort-Term Debt is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific re…
- Short-Term Debt & Capital Lease ObligationShort-Term Debt & Capital Lease Obligation is a balance-sheet line item that describes assets, liabilities, eq…
- Short-term investmentsShort-term investments is a balance-sheet line item that describes assets, liabilities, equity, or sector-spec…
- Tangible book valueShareholder equity minus goodwill and intangible assets. A more conservative book-value measure that strips ou…
- Total AssetsTotal Assets is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific reser…
- Total Current AssetsTotal Current Assets is a balance-sheet line item that describes assets, liabilities, equity, or sector-specif…
- Total Current LiabilitiesTotal Current Liabilities is a balance-sheet line item that describes assets, liabilities, equity, or sector-s…
- Total DepositsTotal Deposits is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific res…
- Total EquityTotal Equity is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific reser…
- Total InventoriesTotal Inventories is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Total LiabilitiesTotal Liabilities is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Total Long-Term AssetsTotal Long-Term Assets is a balance-sheet line item that describes assets, liabilities, equity, or sector-spec…
- Total Long-Term LiabilitiesTotal Long-Term Liabilities is a balance-sheet line item that describes assets, liabilities, equity, or sector…
- Total ReceivablesTotal Receivables is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Total Stockholders EquityTotal Stockholders Equity is a balance-sheet line item that describes assets, liabilities, equity, or sector-s…
- Total Tax PayableTotal Tax Payable is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Treasury StockTreasury Stock is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific res…
- Unearned IncomeUnearned Income is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific re…
- Unearned PremiumsUnearned Premiums is a balance-sheet line item that describes assets, liabilities, equity, or sector-specific…
- Unpaid Loss & Loss ReserveUnpaid Loss & Loss Reserve is a balance-sheet line item that describes assets, liabilities, equity, or sector-…
- Working capitalCurrent assets minus current liabilities. The capital tied up in the operating cycle (receivables and inventor…
Growth and forecasting
- Deceleration curveThe rate at which revenue or earnings growth slows over the explicit forecast period. We use visibility-adjust…
- EPS growthYear-over-year change in diluted earnings per share. The bottom-line growth rate that drives shareholder retur…Also: YoY EPS Growth
- Revenue growthYear-over-year change in revenue, expressed as a percentage. The starting point for any forward-earnings model…
- Terminal growthThe perpetual growth rate assumed in the Gordon-growth terminal-value calculation. Capped below long-run nomin…
Quality and accounting
- Accruals ratioNet accruals (net income minus operating cash flow) divided by total assets. Persistent positive accruals sign…
- Altman Z-ScoreA composite bankruptcy-risk model. Above 3.0 is the safe zone; below 1.8 is the distress zone. Mostly relevant…Also: Altman Z-Score
- Beneish M-ScoreAn eight-variable model designed to flag earnings manipulation. Above −1.78 indicates elevated manipulation pr…Also: Beneish M-Score
- Earnings qualityA composite assessment of how reliable reported earnings are as a predictor of future cash flow. Combines OCF/…
- OCF/NI ratioOperating cash flow divided by net income. Measures earnings-to-cash conversion. Below 0.8 triggers a soft-pas…
- Piotroski F-ScoreA 0–9 integer score measuring fundamental strength across profitability, leverage, and operating-efficiency di…Also: Piotroski F-Score
Technical indicators
- 12-1 Month Momentum %12-1 Month Momentum % is a technical indicator derived from market prices or returns. It describes momentum, t…
- 14-Day RSI14-Day RSI is a technical indicator derived from market prices or returns. It describes momentum, trend, or ri…
- 3-1 Month Momentum %3-1 Month Momentum % is a technical indicator derived from market prices or returns. It describes momentum, tr…
- 5-Day RSI5-Day RSI is a technical indicator derived from market prices or returns. It describes momentum, trend, or ris…
- 50-Day SMA50-Day SMA is a technical indicator derived from market prices or returns. It describes momentum, trend, or ri…
- 6-1 Month Momentum %6-1 Month Momentum % is a technical indicator derived from market prices or returns. It describes momentum, tr…
- 6-Month Price Index6-Month Price Index is a technical indicator derived from market prices or returns. It describes momentum, tre…
- 9-Day RSI9-Day RSI is a technical indicator derived from market prices or returns. It describes momentum, trend, or ris…
Risk and sensitivity
- Bear caseThe worst-realistic outcome — what happens if our top three risks materialize together. Used to set the floor…
- Kill scenarioA specific, quantified mechanism by which the investment thesis fails. Distinct from a bear case (a probabilit…
- Sensitivity analysisA 5×5 grid showing how fair value moves under different combinations of two key drivers (typically Ke and term…
Methodology terms
- ArchetypeOur coverage taxonomy. Each ticker is assigned to one of seven business archetypes (mature-quality, hyper-grow…
- Breadth health scoreA composite breadth indicator that asks how many constituents are participating in an index move. Rolls up adv…
- Composite fair valueThe weighted blend of all valuation methods used for a ticker. Weights vary by archetype — financials lean on…
- Confidence scoreA 0–100 score reflecting how tight our fair-value range is and how reliable the inputs are. Below 60: wide mod…
- Historical analog explorerA nearest-neighbor search across multi-decade index history that surfaces prior regimes whose composite, bread…
- Margin of safetyThe discount required between fair value and current price before we recommend buying. Typically 15% for wide-…
- Market regime modelA composite scorecard that classifies the equity market into a regime band (e.g. early-cycle, mid-cycle, late-…
- MoatA durable structural advantage that protects long-term returns on capital from competition. Sources include ne…
- Revision diffusion indexA measure of whether forward earnings estimates are being revised up or down across the index, expressed as th…
- Scenario probability treeA probability-weighted tree of macro scenarios (e.g. soft landing, hard landing, no landing, reaccelerating in…
- ScorecardA 9-category weighted business-quality framework (0-100) covering growth, profitability, balance sheet, capita…
- Sector rotation matrixA heatmap of sector-level returns across multiple lookback windows (typically 1M / 3M / 12M for the 11 GICS se…
- Soft passA report flag indicating the company passed our quality gate but with a yellow card on a specific quality metr…
- Valuation dispersion mapA cross-sectional plot of valuation multiples (forward P/E, EV/EBIT, P/B) against quality and growth, used to…