TODO.txt

free_cash_flow = operating_cash_flow - capex - dividend_payout
free_cash_flow_ratio = free_cash_flow/operating_cash_flow, higher is better
price/sales
sales/expenses

Cash and short-term investments + (0.75 * accounts receivable) + (0.5 * inventory) - total liabilities
Graham looked for companies whose market values were less than two-thirds of that net-net value.

These are the predictable companies that are sold at close to historical low price/sales ratios.
Their sales and earnings have consistently grown for at least the past decade.
However the price/sales (P/S) ratios of these companies are less than 30% above their historical lows.

Clean up Miscellaneous sector




update financial data only if new quarter
Check why acid test ratio is null
Check why outstanding shares for some companies is zero in quarterly results.

Consolidate migration scripts
Consolidate sectors

update sector only if new company

"current.adjusted_no_of_shares < previous.adjusted_no_of_shares" might be faulty incase of splits and bonuses. equity capital might be better.

EV = (Market Cap + Debt + preferred Shares - Cash & Cash Equivalents)
1. EVtoSales =  EV / Annual Sales. lower is better. Compare to sectoral average

EBITDA = Earnings before interest, tax, depreciation, and amortisation  
2. EV/EBITDA compare to sectoral average. higher is better

3. PBT Margin. Compare to companies' past values. Higher is better.    PBT Margin = PBT / Net Sales % 

4. ROE (RONW) = Net Income / Shareholder Equity. Compare to past values and sectoral average. Higher is better

5. ROCE = (EBIT - Non-Operating Income) / (Total Assets - Current Liabilites) = Operating Profit / Total Funds . Should be higher than the rate at which the company borrows. Compare same as ROE

6. Debt/Equity - Lower is better. Compare to sectoral average.

Net Current Asset Value (NCAV) = current assets - Current Liabilities - Long-term debt - Preferred Stock
7. NCAV/Share usage CTP <= 67% of NCAVPS

8. Price / Book value. compare to sectoral average. lower is better

9. Acid Test Ratio = (Cash + Accounts Receivable + Short term investments) / Current liabilities = (Currents Assets + Investments) / Current Liabilities

Apply formula noting which price-dependent formula passes/fails.
If there are any price-dependent formula which fails,
decrement the price and evaluate these formulae again
Whenever a formula passes, save that price-formula pair
Continue till all formula have been evaluated,

low =0, high = closing_price
all formulae which pass at 0, move to passable, throw out all which fail
for all in high_bucket, apply at average price, 

PEG ratio