ShareAnalysis data source and FACTSET
The financial data in ShareAnalysis is sourced from top-tier international data providers.
Automated calculations are run daily by ShareAnalysis’s automated engine. The calculations are completely objective. There is no human intervention excluding that of data integrity operations and accuracy testing which ensure the ongoing delivery of top tier information.
ShareAnalysis does not take into account personal opinion when valuing or rating companies.
From 02 August 2017 ShareAnalysis is sourcing data from Factset data (Listed in the US: Ticker FSD).
Who or what is Factset?
Factset Research Systems Inc. is engaged in providing integrated financial information and big data analytical applications for the global investment community. The Company delivers insight and information to investment professionals through its analytics, service, content, and technology. Its offerings include a complete services solution focused on verifying, cleaning and loading data across asset classes, and an execution management system. The Company offers third-party content through desktop, wireless and off-platform solutions.
For more than 35 years, the world?s investment professionals have trusted FactSet, across teams, across asset classes, and at every stage of the investment process. FactSet integrates thousands of datasets in their desktop and mobile solutions, giving the accuracy and transparency needed to perform innovative analysis and present it clearly. Factset was voted Best Overall Data/Service Provider in 2016 (Inside Market Data Awards) and Best Market Data Provider (Vendor).
Why use Factset?
- Wider coverage (# of stocks increase)
- Cleaner data (more current consensus forecasts)
- Wider analyst coverage (# of stocks with forecasts increase)
- Individual company regional and business revenue information
ShareAnalysis accepts no responsibility for any errors or inaccuracies in the data contained within ShareAnalysis, however we will endeavour to resolve any errors or inaccuracies in a timely manner.
ShareAnalysis will incorporate information from Factset Research systems products. In respect of that information please note the following notices and disclaimers from Factset:
COPYRIGHT NOTICE: Copyright ? 2000-2016 FactSet Research Systems Inc. All rights reserved.
DISCLAIMER: THE MATERIALS ON THIS SITE ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL FACTSET, ITS AFFILIATES, OR ITS SUPPLIERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION OR LOSS OF INFORMATION) ARISING OUT OF THE USE OR INABILITY TO USE THE MATERIALS ON THIS SITE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU.
Factset Legal Statement – Link (https://www.factset.com/legal-statement)
Historical fundamental data
Historical fundamental data is added to ShareAnalysis up to four times a year, when company’s release interim and annual results. ShareAnalysis Scores are derived from historical fundamental data.
In Australia, most companies release their interim results in February and full year results in August.
Here’s how company results flow through ShareAnalysis during reporting seasons.
Step 1. Company releases results
In Australia, companies are required to lodge their accounts twice a year. Full year financials are known as Appendix 4E and half year or interim results as Appendix 4D. Results announcements are generally classified as price sensitive.
They’re available at asx.com.au (or the equivalent exchange) and can usually be found in the Corporate/Investor section of the company’s website. Within ShareAnalysis, you can access announcements on the News tab of Fast Facts or at the bottom of the company’s Summary Evaluate screen.
Step 2. ShareAnalysis’s data provider, FACTSET
Upon receiving the results, FACTSET analysts input the latest financials into a database. FACTSET aims to input new data on the day its released to the ASX, however on particularly busy days companies with the largest market capitalisations will be prioritised over smaller cap companies.
FACTSET database releases the latest figures to ShareAnalysis’s automated engine. From the FACTSET’S website, it is clear that FactSet provides streaming real-time data to deep historical information nd gives the access to timely and accurate data. As FactSet has FactSet-sourced and third-party databases integrated in one flexible analytics platform, it offers standard and custom data solutions that combine global coverage, deep history, and unparalleled transparency.
Step 3. ShareAnalysis updates, every day
At around 2am each morning, Sydney time, ShareAnalysis’s automated engine pulls in the latest data for every ASX company. Hong Kong will update from 10:00pm, Singapore 11:00pm, Europe 8:30am, and London and Switzerland 9:30am Sydney time. The US and Canada will update from 2pm Sydney time for the day prior.
120 pieces of financial information for every listed business are automatically run through over 730 automated (many of them patent-pending) calculations, every day, and published to ShareAnalysis. ShareAnalysis’s Scores, intrinsic value estimates and company evaluations are completely objective. There is no human intervention.
ShareAnalysis sources up to three years of forecast data for over 500 ASX-listed companies and thousands of global stocks. Forecast data includes earnings per share, dividends per share, profit and equity figures. Theoretically, forecast data can change daily. In reality, forecasts typically change when companies release new information to the market.
Following the release of a company’s interim or full year results, which generally includes management’s outlook and guidance for the next 12 months, industry analysts covering a stock will update their forecasts estimates of earnings, dividends and profit figures. This usually occurs in the two or three weeks following the interim or full year results announcement. Here’s how new forecast data flows through ShareAnalysis:
1. Company releases earnings guidance, a half yearly report, annual report or other price-sensitive information.
2. Analysts covering the stock receive the information. They will spend time digesting the announcement. They may ring the company or arrange a meeting with its CEO and CFO to gain further insights. After undertaking further research, the analyst may update their financial model. The time between which an analyst receives information to the time they submit their revised estimates to ShareAnalysis’s data provider may be as long as five business days. Maybe they’re still on holidays!
3. The analysts’ revised estimates are submitted to ShareAnalysis’s data provider, FactSet.
4. FactSet reviews the research and figures to ensure the data is comparable to the consensus and then releases the updated data to ShareAnalysis’s automated database.
5. Every day ShareAnalysis’s automated engine pulls in a data file that contains the latest financial information, runs the necessary calculations and publishes the results to ShareAnalysis’s patent-pending interface. The Mainstreet Investment Research team then ensures data integrity and accurate analysis through a series of screens and observations, maintaining the quality of outputs.
If, for example, 10 analysts contribute forecasts for a company, it can take a week or so for every analyst to update their forecasts. As each analyst updates his or her EPS estimates), ShareAnalysis’s forecast intrinsic values and ‘Forecast Change in IV’ will also update. Changes to intrinsic values are tracked on a company’s Forecast Updates chart.
ShareAnalysis’s Earnings Evaluate screen displays the number of analysts covering a stock, and the minimum and maximum earnings per share estimates. Bullish and Bearish intrinsic valuations are also available on a company’s Value vs Price chart.