Totally agree with the commentary about building your information from Annual Reports, inclusive of the CEO & MD reports. It is a great opportunity to spot the BS and spin. I really hate the new trend of ‘underlying’, not to mention a few of the recent accounting standards dealing with rented properties and the expensing of earn outs based upon exceptional profits on acquired businesses. Cash is King and the cash flow statement is the King of reports.
By all means use information services as a check up but remember it’s your money you are investing, not that of a 19 year old pimply faced second year uni student following a rote system. The same logic applies to analyst projections of forward earnings. I will look at the average PT’s of analysts and consider “why are their projections different to mine?”
Where do people get their fundamental data from? I have been looking at the data for EOL. Primarily historical Diluted Earnings per share for a DCF valuation.
The products that I have access to are summaries below:
As you can see there is a huge variation between some of the providers and the company's ASX reports which I figure are the most accurate.
It seems that from the products I use, Tikr is the most accurate. I am pretty happy with it but it's Global Scans of ASX shares only includes share based on the primary register so it excludes the likes of A2M, AFP, AIA, AIZ, and ATM. I have raised this with them and was asked to add to their annual product feature request survey.
Do others have experience with other products? Am I misinterpreting some of the reports?
Th source of the above data is shown below:
ASX Reports
Tikr
Commsec:
Market Index
Yahoo
Koyfin
Morningstar Quantitative