Peering into Fortune 500 Revenue disclosures with new XBRLAnalyst

Every year FinDynamics takes a closer look at the Revenue and Profits of Fortune 500 companies as reported by the Fortune magazine. This year, we share with you some new insight into “fine prints” about  revenue components reported by Fortune 500 companies in their disclosures.


Peering into Financial Disclosures of XBRL reports using XBRLAnalyst (the Excel’s crystal ball), we have discovered some peculiar facts. The results of our analysis are available for download in Excel file where each data point is dynamically linked to the original financial reports and hence is easily traceable. You can download it from Findynamics.com website. If you would like to receive unprotected version of the file for using it in your analysis, just send us an email at support@findynamics.com


For example, we found that a dozen of Energy sector companies reported their revenue on gross basis and did not show the excise and sale taxes on the financial statements but rather put them in a disclosure only. This makes such information very difficult to find using traditional methods and the figures in Fortune Magazine do not always take it into account. Some examples are Energy Transfer Equity,  Duke Energy, FirstEnergy.


In another example, we found that the Revenue from Discontinued Operations is not easy to find either unless one uses XBRL tools. For instance,  Alcoa and Sonic Automotive reported [Revenue from D.O.] that was not captured in the Fortune Magazine figures. With XBRLAnalyst, it takes less than 1 minute to load [Revenue from D.O.] data for 500 companies.


We were able to quickly get and aggregate that information in Excel using 3 solutions provided in XBRLAnalyst platform:

1) New normalized data points leveraging disclosure information and XBRL dimensions, e.g. [Excise and Sale Taxes] and [Revenue from D.O.]. Last year, we provided a similar analysis of Fortune 500 companies for 2014 but the disclosure information was harder to aggregate. This year, one can use our template and quickly get similar information for hundreds if not thousands of other companies that are traded on the US exchanges and file XBRL reports with SEC. If you are looking for other information from the disclosures, let us know about it and with a short period of time we could provide more data points aggregating disclosure data for you using our adaptive algorithms.


2) New Excel tool for One-click viewing of disclosures for any financial data stored in Excel cells using FinValue function. This functionality is available in Corporate version of XBRLAnalyst.


3) New Excel tool for One-click historical data plot for any combination of financial concepts reported by the same or different companies since 2008. Simply select the cells containing current values andaccess the Analytics using right-mouse click.


By combining these tools, our users are able to quickly find any disclosure information for large universes of companies.

If you have questions how to use the new functionality in your Excel templates or would like to get our direct assistance with building your Excel models, contact us at  support@findynamics.com

No Comments

Post A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.