RESEARCH DATABASES AT IVEY by oneforseven

VIEWS: 0 PAGES: 15

									RESEARCH DATABASES AT IVEY

          Craig Dunbar
      Friday April 23, 2004
Research Database Presentation


   Wharton Research Data Services (WRDS)

      Account setup
         http://wrds.wharton.upenn.edu/


      WRDS is an interface
         we separately subscribe to databases
Research Database Presentation


    COMPUSTAT
    Standard & Poor’s Compustat North America is a
     database of U.S. and Canadian fundamental and
     market information on more than 24,000 active and
     inactive publicly held companies.
    It provides more than 300 annual and 100 quarterly
     Income Statement, Balance Sheet, Statement of Cash
     Flows, and supplemental data items (information on
     industry segments, market prices and earnings)
    Standard & Poor's offers data in both annual and
     quarterly formats.
        The industrial annual format offers both historical and restated
         data.
        The industrial quarterly format offers restated data as reported
         by the company.
        For most companies, annual and quarterly data is available for a
         maximum of 20 years and 48 quarters
Research Database Presentation


   SAMPLE COMPUSTAT APPLICATIONS
    Research projects
        Get historic financials for a set of firms


    Case projects
        Get financial statements and ratios for a set of firms
        Get financial data for comparison firms (e.g. firms in
          same SIC or NAICS industries)
Research Database Presentation


   AN EXAMPLE
  Nicholson Comparables (Publicly Traded firms in the cutlery, hand tools and general hardware industry)

                                             Market data                                    Selected Ratios


                                                       Market
                                  Stock Shares out-   capital-                                              EV/
                             price (May   standing     ization                               Price /    EBITDA EV/ Sales
  Company                             3) (millions) (million $)        Beta          P/E    Book (1)         (2)      (2)

  EASTERN CO                        20.00     0.639       12.780       0.52       11.957       0.963      3.950      0.408
  GILLETTE CO                       42.25    29.285     1237.291       1.03       19.834       4.173      7.942      1.516
  LEIGH PRODUCTS INC                30.00     1.264       37.920       2.32       22.222       3.156      7.294      0.924
  OMARK INDUSTRIES INC              12.38     4.358       53.930       1.39       14.325       1.095      3.190      0.374
  STANLEY WORKS                     41.50     7.480      310.420       0.90       20.219       2.134      6.919      0.915
  STARRETT (L.S.) CO -CL A          18.63     1.974       36.766       0.96       13.899       1.492      7.155      1.389

                                                      Balance Sheet Items Last Fiscal Year end (all amounts in million $)

                             Fiscal                                Common                               Interest
  Company                    year end         Cash Total Debt        Equity       Assets      Sales    Expense     EBITDA      EBIT

  EASTERN CO                 Dec              1.167        1.954     13.275       17.384      29.425      0.158      3.036     2.142
  GILLETTE CO                Dec             45.666      177.024    296.490      555.452     729.687      9.569    139.255   121.532
  LEIGH PRODUCTS INC         Nov              0.972        6.238     12.015       21.821      35.353      0.513      4.477     3.859
  OMARK INDUSTRIES INC       June             7.125       30.954     49.248       89.677      80.468      1.968      9.436     5.859
  STANLEY WORKS              Dec             12.614       45.265    145.436      230.843     303.719      2.670     40.146    31.014
  STARRETT (L.S.) CO -CL A   June             3.313        0.203     24.642       29.924      28.704      0.047      5.573     4.777
Research Database Presentation

   THE CENTER FOR RESEARCH IN
   SECURITY PRICES (CRSP)
   CRSP is a research center at the University of Chicago
    Graduate School of Business. It maintains the most
    comprehensive collection of standard and derived
    security data available for the NYSE, AMEX and Nasdaq
    Stock Market.
   The CRSP US Government Daily Bond File contains data
    for about 3,100 marketable US Government securities
    traded in the secondary market and during the issued
    trading period from June 14, 1961 to the present. The
    monthly product contains data for approximately 5,000
    bonds, notes, and bills since 1925.
   Additional CRSP files contain data on stock indices,
    treasury bills, maturity portfolios, Risk Free rates, cap
    based portfolios, S&P 500, and bond, bills, and inflation.
Research Database Presentation


   SAMPLE CRSP APPLICATIONS
    Get stock price and return data for sample of firms

    Use “tools” to get returns and prices around “events”

    Get data on indices (CRSP stock indices, S&P 500,
     US Treasury bills and bonds, US inflation)
Research Database Presentation


   I/B/E/S DATABASE

      I/B/E/S International Inc. (now part of First Call)
        provides:
         summary and individual analyst forecasts of
            company earnings
            cash flows
            other important financial items
         buy-sell-hold recommendations
Research Database Presentation


   SAMPLE I/B/E/S APPLICATIONS
    Find individual analyst forecasts of earning, sales
     (etc.) for a firm or set or firms
    Find descriptive statistics (mean, median, min, max,
     standard deviation, etc.) for analyst forecasts on a firm
     or set of firms
    Compare forecasts to “actuals”
    Find individual brokerage recommendations
     (buy/hold/sell) on firm or set of firms
    Find descriptive statistics on recommendations for firm
     or set of firms
Research Database Presentation

   AN EXAMPLE
                                                                     FEB 2001 Analyst EPS Forecasts For Dell Over Time

                                   1.1



                                  1.05



                                    1
    FEB 2001 EPS Estimates




                                                                                                                                                                                mean
                                                                                                                                                                                forecast
                                  0.95
                                                                                                                                                                                maximum
                                                                                                                                                                                forecast

                                   0.9                                                                                                                                          minimum
                                                                                                                                                                                forecast


                                  0.85



                                   0.8



                                  0.75



                                   0.7
                                                         00



                                                                   00



                                                                             00
                                    0



                                                0




                                                                                         0



                                                                                                    0



                                                                                                               0



                                                                                                                          0




                                                                                                                                                                            1
                                                                                                                                      00



                                                                                                                                                   00



                                                                                                                                                                00
                                  00



                                              00




                                                                                       00



                                                                                                  00



                                                                                                             00



                                                                                                                        00




                                                                                                                                                                          00
                                                      20



                                                                20



                                                                          20




                                                                                                                                   20



                                                                                                                                                20



                                                                                                                                                             20
                               /2



                                           /2




                                                                                    /2



                                                                                               /2



                                                                                                          /2



                                                                                                                     /2




                                                                                                                                                                       /2
                                                    7/



                                                              5/



                                                                        2/




                                                                                                                                 0/



                                                                                                                                              7/



                                                                                                                                                           5/
                             11



                                         10




                                                                                  30



                                                                                             28



                                                                                                        25



                                                                                                                   22




                                                                                                                                                                     12
                                                    4/



                                                              5/



                                                                        6/




                                                                                                                               /2



                                                                                                                                            /1



                                                                                                                                                         /1
                             2/



                                         3/




                                                                                  6/



                                                                                             7/



                                                                                                        8/



                                                                                                                   9/




                                                                                                                                                                     1/
                                                                                                                              10



                                                                                                                                           11



                                                                                                                                                        12
Research Database Presentation

   AN EXAMPLE
                                                            FEB 2003 Analyst EPS Forecast for Dell Over Time



                                  1.7




                                  1.5
                                                                                                                                                                       mean
                                                                                                                                                                       forecast
      Feb 2003 EPS Forecast




                                  1.3                                                                                                                                  maximum
                                                                                                                                                                       forecast

                                                                                                                                                                       minimum
                                                                                                                                                                       forecast
                                  1.1




                                  0.9




                                  0.7




                                  0.5
                                       0            0            0               0              0              0            1            1            1            1
                                     00           00           00              00             00             00          00            00           00           00
                                   /2           /2           /2             /2              /2             /2          /2            /2           /2           /2
                              7/
                                 18
                                           8/
                                              15
                                                        9/
                                                           12           /10          11
                                                                                          /7
                                                                                                    12
                                                                                                         /5        1/
                                                                                                                      2
                                                                                                                                1/
                                                                                                                                   30
                                                                                                                                             2/
                                                                                                                                                27
                                                                                                                                                          3/
                                                                                                                                                             27
                                                                     10
Research Database Presentation
   THOMSON FINANCIAL SECURITIES DATA
   (TFSD)
     TFSD was created in 1999 by the joining of The
      Investext Group, Securities Data Company and
      CDA/Spectrum.
     SDC Platinum™ is an interface that provides access
      to data on global financial transactions. Download
      from
         www.thomson.com/platinum
     Detailed information is available on
         New financial security issues
         M&A transactions
         Venture capital financings
Research Database Presentation


   NEW ISSUES DATA
    US NEW ISSUES (over 100,000 transactions)
        Data from 1970 to the present, updated daily (we have one
         month lag) collected from SEC filings, prospectuses, news
         sources, wires, and daily surveys of underwriters and other
         corporate finance contacts
        The database is divided into sub-databases based upon security
         type:
            Common stock (includes IPOs and secondary offerings)
            Non-convertible debt
            etc.
        For each transaction, there are over 800 data elements
         including:
            Offering terms, Issuer profile (e.g. financial information)
            Book and co-managers, law firms, auditors and trustees
            etc.
Research Database Presentation


   M&A DATABASE
    Data from 1979 to present for the US and 1985 to present
     internationally, updated daily.
    Data is collected from over 200 English and foreign language news
     sources, SEC filings and their international counterparts, etc.
    Transactions include:
          Mergers & acquisitions
          Stock swaps
          Asset sales & divestitures
          Leveraged buyouts (LBOs)
          etc.
    For each transaction there are more than 1400 data elements
     including the following:
        Target and acquiror profiles (e.g. financial information)
        Deal terms (lock-ups, termination fees, acquisition techniques,
         percent acquired, consideration offered)
        Deal value and stock premiums
        etc.
Research Database Presentation


   VentureXpert
    Date from 1970 to present on private financings (e.g.
     venture capital) worldwide. Data is obtained from
     industry surveys, quarterly and annual fund reports,
     news sources.
    Over 110,000 financings of over 23,000 private equity
     backed companies are covered in the database
    Data elements include:
       Name & Address Information
       Investment Information (round numbers, dates,
        amounts, investors)
       Company Industry
       etc.

								
To top