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

Short Duration Strategic Income Fund - Investor Class

ASDVX (NASDAQ)

(%)

Valuation
Short Duration Strategic Income Fund - Investor Class Annual Margin Report

"""
    Model: Annual Margin Report

# Render model description
model.render_description(r"""
## Annual 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 a report of the company's key margins, which could be further used in a valuation model.
""")

# Initialize assumptions
assumptions.init({
    "data": {
        "historical_years": 5,
    }
})

# Compute historical values and ratios
data.compute({
    "%revenueMargin": 1,
    "%operatingCashFlowMargin": "flow:operatingCashFlow / income:revenue",
    "%netCashProvidedByOperatingActivitiesMargin": "flow:netCashProvidedByOperatingActivities / income:revenue",
    "%freeCashFlowMargin": "flow:freeCashFlow / income:revenue",
    "%capitalExpenditureMargin": "flow:capitalExpenditure / income:revenue",
    "%grossMargin": "income:grossProfit / income:revenue",
    "%operatingMargin": "income:operatingIncome / income:revenue",
    "%netMargin": "income:netIncome / income:revenue",
    "discountedFreeCashFlow": "flow:freeCashFlow",
    "%revenueGrowthRate": "function:growth:income:revenue",
    "%depreciationAndAmortizationMargin": "flow:depreciationAndAmortization / income:revenue",
})

model.render_chart({
    "data": {
        "%revenueMargin": "Revenue Margin",
        "%netCashProvidedByOperatingActivitiesMargin": "Operating Margin",
        "%freeCashFlowMargin": "Free Cash Flow Margin",
        "%netMargin": "Net Margin",
        "%capitalExpenditureMargin": "Capital Expenditure Margin"
    },
    "start": -assumptions.get("historical_years"),
    "end": "*",
    "properties": {
        "title": "Margin Analysis (% of Revenue)",
        "hidden_keys": [
            "%revenueMargin",
            "%capitalExpenditureMargin"
        ],
        "bar_keys": "*",
        "include_ltm": True
    }
})

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

# Cash Flow Statement Table
model.render_table({
    "data": {
        "income:revenue": "Revenue",
        "%netCashProvidedByOperatingActivitiesMargin": "Cash From Operating Activities Margin",
        "flow:netCashProvidedByOperatingActivities": "Cash From Operating Activities",
        "%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "%capitalExpenditureMargin": "Capital Expenditure Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
    },
    "start": -assumptions.get("historical_years"),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "number_format": "M",
        "display_averages": True,
        "order": "descending",
    },
})

assumptions.set_description({
    "historical_years": r"""
        ## Historical Years

Number of historical years used to render the Chart and Tables.
    """,
})

print("End of model.")

Annual 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 a report of the company's key margins, which could be further used in a valuation model.

Interactive Assumptions

Margin Analysis (% of Revenue)

Monetary values in USD

{"sectionId": "section-chart-1", "sectionType": "chart", "title": "Margin Analysis (% of Revenue)", "timeseries": "annual", "series": [{"label": "Revenue Margin", "mappingKey": "%revenueMargin", "data": [{"l": "2019", "x": "2019-10-31", "y": 100}, {"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}, {"l": "LTM", "x": "2026-03-09", "y": 100}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": true}, {"label": "Operating Margin", "mappingKey": "%netCashProvidedByOperatingActivitiesMargin", "data": [{"l": "2019", "x": "2019-10-31", "y": 46.91}, {"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}, {"l": "LTM", "x": "2026-03-09", "y": 141.3}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "%freeCashFlowMargin", "data": [{"l": "2019", "x": "2019-10-31", "y": 46.91}, {"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}, {"l": "LTM", "x": "2026-03-09", "y": 141.3}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Net Margin", "mappingKey": "%netMargin", "data": [{"l": "2019", "x": "2019-10-31", "y": 55.41}, {"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}, {"l": "LTM", "x": "2026-03-09", "y": 93.57}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Capital Expenditure Margin", "mappingKey": "%capitalExpenditureMargin", "data": [{"l": "2019", "x": "2019-10-31", "y": 0}, {"l": "2020", "x": "2020-10-31", "y": 0}, {"l": "2021", "x": "2021-10-31", "y": 0}, {"l": "2022", "x": "2022-10-31", "y": 0}, {"l": "2023", "x": "2023-10-31", "y": 0}, {"l": "LTM", "x": "2026-03-09", "y": 0}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": true}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}

Income Statement Margins

Monetary values in USD amounts except #	Average	LTM Mar 09	2023 Oct 31	2022 Oct 31	2021 Oct 31	2020 Oct 31	2019 Oct 31
Revenue	14.74	14.18	14.18	11.05	15.61	13.65	19.77
Revenue Growth Rate	-1.92%	0%	28.35%	-29.24%	14.43%	-30.99%	5.95%
Cost of Revenue		0	0	0	0	0	0
Gross Profit	14.74	14.18	14.18	11.05	15.61	13.65	19.77
Gross Margin	100%	100%	100%	100%	100%	100%	100%
Operating Income	11.93	12.1	12.1	8.7	12.51	10.08	16.07
Operating Margin	80.78%	85.32%	85.32%	78.75%	80.12%	73.88%	81.27%
Net Income	4.76	13.27	13.27	-21.94	19.82	-6.84	10.96
Net Margin	20.11%	93.57%	93.57%	-198.6%	126.9%	-50.16%	55.41%

Cash Flow Statement Margins

Monetary values in USD amounts except #	Average	LTM Mar 09	2023 Oct 31	2022 Oct 31	2021 Oct 31	2020 Oct 31	2019 Oct 31
Revenue	14.74	14.18	14.18	11.05	15.61	13.65	19.77
Cash From Operating Activities Margin	243.7%	141.3%	141.3%	227.5%	587.9%	317.5%	46.91%
Cash From Operating Activities	34.93	20.03	20.03	25.14	91.8	43.33	9.27
Free Cash Flow Margin	243.7%	141.3%	141.3%	227.5%	587.9%	317.5%	46.91%
Free Cash Flow	34.93	20.03	20.03	25.14	91.8	43.33	9.27
Depreciation and Amortization Margin		0%	0%	0%	0%	0%	0%
Depreciation and Amortization		0	0	0	0	0	0
Capital Expenditure Margin		0%	0%	0%	0%	0%	0%
Capital Expenditure		0	0	0	0	0	0

Annual Margin Analysis Report

Interactive Assumptions

Historical Years

Historical Years

Margin Analysis (% of Revenue)

Income Statement Margins

Cash Flow Statement Margins

Discounted Cash Flow to Firm - Perpetual Growth

Earnings Power Value

Simple Dividend Discount Model

Simple Excess Return Model

Two-Stage Dividend Discount Model

Two-Stage Excess Return Model

Discounted Cash Flow to Firm - Exit Multiple

Discounted Future Market Cap

Peter Lynch Fair Value

Altman Z-Score

Beneish M-Score

Capital Asset Pricing Model (CAPM)

Margin Analysis

Piotroski F-Score

Return on Invested Capital (ROIC)

Shiller PE (CAPE) Ratio

Weighted Average Cost of Capital (WACC)

Market is Open

After-Hours Quote

Market is Open

After-Hours Quote

Short Duration Strategic Income Fund - Investor Class Annual Margin Report

Annual Margin Analysis Report

Interactive Assumptions

Historical Years

Historical Years

Margin Analysis (% of Revenue)

Income Statement Margins

Cash Flow Statement Margins

Discounted Cash Flow to Firm - Perpetual Growth

Earnings Power Value

Simple Dividend Discount Model

Simple Excess Return Model

Two-Stage Dividend Discount Model

Two-Stage Excess Return Model

Discounted Cash Flow to Firm - Exit Multiple

Discounted Future Market Cap

Peter Lynch Fair Value

Altman Z-Score

Beneish M-Score

Capital Asset Pricing Model (CAPM)

Margin Analysis

Piotroski F-Score

Return on Invested Capital (ROIC)

Shiller PE (CAPE) Ratio

Weighted Average Cost of Capital (WACC)