General Valuation Updates
- New Valuation Coding Framework
- New Exit EBITDA Multiple DCF Valuation Model
- Model Selection Menu Redesigned
- Valuation Page Redesigned
New Valuation Coding Framework
The old valuation model code was messy and hard to read and it took a lot of time to develop a new valuation model from scratch. So, we 've introduced a faster and easier Valuation Coding Framework.
Documentation is available on readthedocs.io and the source code is available on github.com
New Valuation Model: Discounted Free Cash Flow - Exit Multiple
A new model was added to the Multiples Valuation section, the Discounted Free Cash Flow - Exit Multiple.
This model is similar to the Discounted Free Cash Flow - Perpetuity model, but it calculates the Terminal Value using an EV/EBITDA multiple instead.
Check out this example for AAPL.
Tip: The model is designed to be applied to companies that have meaningful Enterprise Value. (We do not recommend applying it to financial service firms, banks or insurance companies)
Model Selection Menu Redesigned
The model selection menu now has tags and a short description for each model.
Valuation Page Redesigned
The model viewer has been redesigned. The Interactive Assumptions and Model Values have been moved one next to the other, for improved readability
General Company Updates
- Financial Statements Reconciliation
- API Endpoints Format
- Country Risk Premium API Endpoint
Financial Statements Reconciliation
Cash Flow and Balance Sheet Statements have been reconciled. Now, all children rows should always add up to the parent row. Please note that while data is generally correct, this does not guarantee that the values are now 100% inline with the original filing.
API Endpoints Format
Some of the API Endpoints have changed and, unfortunately, they are now incompatible with previous versions of valuation code.
The new JSON format of the affected endpoints is the following:
{
convertedCurrency: "USD",
originalCurrency: "USD",
report: […]
}
Each of the affected endpoint will now have the original and converted currencies of their specific report. This removes the need to add additional currency conversion in the valuation code, as this is done automatically by the toOneCurrency() method of Response() class.
The affected endpoints are the following:
- /api/income-statement/.../
- /api/income-statement/quarterly/.../
- /api/income-statement/ltm/.../
- /api/balance-sheet-statement/.../
- /api/balance-sheet-statement/quarterly/.../
- /api/cash-flow-statement/.../
- /api/cash-flow-statement/quarterly/.../
- /api/cash-flow-statement/ltm/.../
- /api/quote/.../
- /api/profile/.../
- /api/dividends/.../
- /api/dividends/reported/.../
- /api/prices/annual/.../
- /api/prices/daily/.../
Country Risk Premium API Endpoint
New API functions added for Country Risk Premium and are now available in the valuations through get_risk_premium() function. The full list of risk premiums can be accessed at /api/risk-premium/.
For each individual company, a country risk premium is associated:
- Here is an example for Deutsche Bank NYSE: /api/risk-premium/DB/
- Here is an example for Deutsche Bank XETRA: /api/risk-premium/DBK.DE
Bug Fixes
- Fixed Error 505 for Company Dividends details
- Revenue Breakdown now correctly converts to the selected currency
- Fixed scroll Y position bouncing randomly - Firefox only
