Short Duration Strategic Income Fund - Investor Class (ASDVX) Margin Analysis

Short Duration Strategic Income Fund - Investor Class

ASDVX (NASDAQ)

(%)

Models
Short Duration Strategic Income Fund - Investor Class Margin Analysis

# --- Years and Quarters
assumptions.set({
    "timeseries": "annual",
    "data": {
        "#years": """
            4
        """,
        "#quarters": """
            8
        """,
    },
    "titles": {
        "#years": "Years",
        "#quarters": "Quarters",
    },
    "properties": {
        "width": "responsive",
        "title": "Years and Quarters",
        "id": "component-1",
        "bindTo": None
    },
    "descriptions": {
        "#years": r"""
The number of historical years used to render the annual chart and tables.
        """,
        "#quarters": r"""
The number of historical quarters used to render the quarterly chart and tables.
        """,
    }
})

# Render description block
model.render_description({
    "data": r"""
## Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.
""",
    "properties": {
        "width": "responsive"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Annual Section

The annual section uses annual data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

# --- Income Statement Margins
data.compute({
    "user:%revenueGrowthRate": """
        ( income:revenue / income:revenue:-1 ) - 1
    """,
    "user:%grossMargin": """
        income:grossProfit / income:revenue
    """,
    "user:%operatingMargin": """
        income:operatingIncome / income:revenue
    """,
    "user:%netMargin": """
        income:netIncome / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

# --- Cash Flow Statement Margins
data.compute({
    "user:%cashFromOperatingActivitiesMargin": """
        flow:netCashProvidedByOperatingActivities / income:revenue
    """,
    "user:%freeCashFlowMargin": """
        flow:freeCashFlow / income:revenue
    """,
    "user:%depreciationAndAmortizationMargin": """
        flow:depreciationAndAmortization / income:revenue
    """,
    "user:%capitalExpenditureMargin": """
        flow:capitalExpenditure / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "annual",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Annual Chart",
        "include_ltm": False,
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "quarterly",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Quarterly Chart",
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

Years and Quarters

Years Years The number of historical years used to render the annual chart and tables.	#
Quarters Quarters The number of historical quarters used to render the quarterly chart and tables.	#

Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.

Annual Section

The annual section uses annual data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	LTM Mar 09	2023 Oct 31	2022 Oct 31	2021 Oct 31	2020 Oct 31
Revenue	14.18	14.18	11.05	15.61	13.65
Revenue Growth Rate	0%	28.35%	-29.24%	14.43%	-30.99%
Cost of Revenue	0	0	0	0	0
Gross Profit	14.18	14.18	11.05	15.61	13.65
Gross Margin	100%	100%	100%	100%	100%
Operating Income	12.1	12.1	8.7	12.51	10.08
Operating Margin	85.32%	85.32%	78.75%	80.12%	73.88%
Net Income	13.27	13.27	-21.94	19.82	-6.84
Net Margin	93.57%	93.57%	-198.6%	126.9%	-50.16%

Cash Flow Statement Margins

Monetary values in USD amounts except #	LTM Mar 09	2023 Oct 31	2022 Oct 31	2021 Oct 31	2020 Oct 31
Revenue	14.18	14.18	11.05	15.61	13.65
Cash from Operating Activities	20.03	20.03	25.14	91.8	43.33
Cash from Operating Activities Margin	141.3%	141.3%	227.5%	587.9%	317.5%
Free Cash Flow	20.03	20.03	25.14	91.8	43.33
Free Cash Flow Margin	141.3%	141.3%	227.5%	587.9%	317.5%
Depreciation and Amortization	0	0	0	0	0
Depreciation and Amortization Margin	0%	0%	0%	0%	0%
Capital Expenditure	0	0	0	0	0
Capital Expenditure Margin	0%	0%	0%	0%	0%

Annual Chart

Monetary values in USD

{"sectionId": "section-chart-1", "sectionType": "chart", "title": "Annual Chart", "timeseries": "annual", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2020", "x": "2020-10-31", "y": 100}, {"l": "2021", "x": "2021-10-31", "y": 100}, {"l": "2022", "x": "2022-10-31", "y": 100}, {"l": "2023", "x": "2023-10-31", "y": 100}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2020", "x": "2020-10-31", "y": 73.88}, {"l": "2021", "x": "2021-10-31", "y": 80.12}, {"l": "2022", "x": "2022-10-31", "y": 78.75}, {"l": "2023", "x": "2023-10-31", "y": 85.32}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2020", "x": "2020-10-31", "y": -50.16}, {"l": "2021", "x": "2021-10-31", "y": 126.9}, {"l": "2022", "x": "2022-10-31", "y": -198.6}, {"l": "2023", "x": "2023-10-31", "y": 93.57}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2020", "x": "2020-10-31", "y": 317.5}, {"l": "2021", "x": "2021-10-31", "y": 587.9}, {"l": "2022", "x": "2022-10-31", "y": 227.5}, {"l": "2023", "x": "2023-10-31", "y": 141.3}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}

Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	2023 (Q4) Oct 31	2023 (Q3) Jul 31	2023 (Q2) Apr 30	2023 (Q1) Jan 31	2022 (Q4) Oct 31	2022 (Q3) Jul 31
Revenue	3.68	3.68	3.41	3.41	3.12	3.12
Revenue Growth Rate	0%	7.9%	0%	9.39%	0%
Cost of Revenue	0	0	0	0	0	0
Gross Profit	3.68	3.68	3.41	3.41	3.12	3.12
Gross Margin	100%	100%	100%	100%	100%	100%
Operating Income	3.15	3.15	2.9	2.9	2.58	2.58
Operating Margin	85.5%	85.5%	85.12%	85.12%	82.81%	82.81%
Net Income	1.76	1.76	4.88	4.88	-5.5	-5.5
Net Margin	47.74%	47.74%	143%	143%	-176.5%	-176.5%

Cash Flow Statement Margins

Monetary values in USD amounts except #	2023 (Q4) Oct 31	2023 (Q3) Jul 31	2023 (Q2) Apr 30	2023 (Q1) Jan 31	2022 (Q4) Oct 31	2022 (Q3) Jul 31
Revenue	3.68	3.68	3.41	3.41	3.12	3.12
Cash from Operating Activities	4.14	4.14	5.88	5.88	17.24	17.24
Cash from Operating Activities Margin	112.4%	112.4%	172.4%	172.4%	553%	553%
Free Cash Flow	4.14	4.14	5.88	5.88	17.24	17.24
Free Cash Flow Margin	112.4%	112.4%	172.4%	172.4%	553%	553%
Depreciation and Amortization	0	0	0	0	0	0
Depreciation and Amortization Margin	0%	0%	0%	0%	0%	0%
Capital Expenditure	0	0	0	0	0	0
Capital Expenditure Margin	0%	0%	0%	0%	0%	0%

Quarterly Chart

Monetary values in USD

{"sectionId": "section-chart-2", "sectionType": "chart", "title": "Quarterly Chart", "timeseries": "quarterly", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2022 (Q3)", "x": "2022-07-31", "y": 100}, {"l": "2022 (Q4)", "x": "2022-10-31", "y": 100}, {"l": "2023 (Q1)", "x": "2023-01-31", "y": 100}, {"l": "2023 (Q2)", "x": "2023-04-30", "y": 100}, {"l": "2023 (Q3)", "x": "2023-07-31", "y": 100}, {"l": "2023 (Q4)", "x": "2023-10-31", "y": 100}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2022 (Q3)", "x": "2022-07-31", "y": 82.81}, {"l": "2022 (Q4)", "x": "2022-10-31", "y": 82.81}, {"l": "2023 (Q1)", "x": "2023-01-31", "y": 85.12}, {"l": "2023 (Q2)", "x": "2023-04-30", "y": 85.12}, {"l": "2023 (Q3)", "x": "2023-07-31", "y": 85.5}, {"l": "2023 (Q4)", "x": "2023-10-31", "y": 85.5}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2022 (Q3)", "x": "2022-07-31", "y": -176.5}, {"l": "2022 (Q4)", "x": "2022-10-31", "y": -176.5}, {"l": "2023 (Q1)", "x": "2023-01-31", "y": 143}, {"l": "2023 (Q2)", "x": "2023-04-30", "y": 143}, {"l": "2023 (Q3)", "x": "2023-07-31", "y": 47.74}, {"l": "2023 (Q4)", "x": "2023-10-31", "y": 47.74}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2022 (Q3)", "x": "2022-07-31", "y": 553}, {"l": "2022 (Q4)", "x": "2022-10-31", "y": 553}, {"l": "2023 (Q1)", "x": "2023-01-31", "y": 172.4}, {"l": "2023 (Q2)", "x": "2023-04-30", "y": 172.4}, {"l": "2023 (Q3)", "x": "2023-07-31", "y": 112.4}, {"l": "2023 (Q4)", "x": "2023-10-31", "y": 112.4}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}