Calculations - How Are Fields Calculated?

This article explains our calculation methodology and shows where calculations are stored for fields like marketcap.

If you are looking to use Intrinio's calculated fields and want to see how we are calculating them, start with the Data Tag Directory.

We keep a filtered list of calculations here. 

In general, Intrinio prefers users to create their own calculations. We provide the raw data to do so for technical indicators (SMA), valuation metrics (P/E), and more complex analyses as well. This creates transparency and encourages independence for investors, two ideals Intrinio loves.

In many cases, however, Intrinio provides calculated fields to save users time. There are many hundreds of these fields. You can pull a company's stock price and earnings, then divide them yourself to get P/E, or you can pull P/E as its own data point. 

These calculated fields can be helpful, especially when there are multiple time periods for a metric. In many cases, you can pull the most recent metric as well as historical calculations at the daily, weekly, monthly, quarterly, or yearly level. That's a lot of calculating that can be avoided if you use Intrinio's fields rather than doing it yourself.

Here are a few of the data points that users have asked about. 

‍Invested capital:

‍ROIC (return on invested capital):

‍NOPAT (net operating profit after tax):

‍Free Cash Flow to Firm:

‍We calculate Free Cash Flow to Firm as freecashflow = nopat - investedcapitalincreasedecrease. Our methodology is different than normal convention due to our use of modern valuation methods as the backbone of our data offering. You can take a look at this presentation that influenced our calculation.

‍The Quick Ratio:

quickratio = (cashandequivalents + shortterminvestments + notereceivable + accountsreceivable) / totalcurrentliabilities

‍Beta:

‍Intrinio's basic beta tag is simply "beta" and it uses the formula for covariance:

beta = Covariance (Ra,Rb)/Variance(Rb).

The Rb value in this case is the S&P 500 while Ra is the stock price of interest. Our default beta uses 3 years of weekly price data, however we do offer several betas that are calculated with different ranges of price data:

ten_yr_weekly_beta

seven_yr_weekly_beta

five_yr_weekly_beta

three_yr_weekly_beta

one_yr_weekly_beta

ten_yr_monthly_beta

seven_yr_monthly_beta

five_yr_monthly_beta

three_yr_monthly_beta

one_yr_monthly_beta

‍Return on Equity:

Intrinio uses an average of total equity for the period. 

‍Shares Short:

‍We use the tag short_interest to represent the actual number of shares being shorted by market participants.

‍Shares Outstanding:

‍This comes right from the income statement. Weighted average basic, weightedavebasicsharesos, diluted shares outstanding, weightedavedilutedsharesos, and a combination of the two, weightedavebasicdilutedsharesos, are available.

‍Days to Cover:

‍days_to_cover = shares_short/avg volume

Note- this makes days to cover a ratio so it counts as float.

‍EBIT:

‍Cash Per Share:

‍We don't have a tag for "cash per share," but you can easily calculate it on your own. There are several approaches to calculating this depending on your interpretation of "cash":

(cashandequivalents / weightedavedilutedsharesos)

(cashandequivalents + shortterminvestments / weightedavedilutedsharesos)

(cashandequivalents + shortterminvestments + longterminvestments / weightedavedilutedsharesos)