Using the Bloomberg terminal for data

 

Contents of Package

  1. General instructiions for getting Bloomberg information on a company

  2. Getting information on an individual company

  3. Getting information on comparable companies/ peer group

  4. Getting macroeconomic information             


Instructions for Getting Bloomberg Data

�      Pick Equity

�      Under Finding Securities, choose Ticker Symbol Look up (TK)

�      Enter the name of your company. You will get all of the equity listings that the company has. Choose the one that you are interested in. For instance, if you look up Nestle, you will get Nestle�s local listings in Switzerland (Registered and Bearer Stock) as well as all of Nestle�s ADR listings around the world. You might have to work through the listings by trial and error until you get the listing that has all of the financial information that you want. (One quick test that seems to work is to try the DES page below. The right listing will have 10-11 pages. All the other listings will have only 2-4 pages)

�      Once you are in equity screen for your company,

�      Type HDS: Print page 1 off

�      Choose Description (DES): Print first 10 pages off; Ignore beta on first page.

�      Chose Debt Distibution (DDIS): Print off just first page

�      Choose Financial Analysis (FA):

�      The full report option that was available until last year is more difficult to get to now. Instead, print off the following sub-reports

�      Enterprise Value (Will give you market value of equity, total book debt and cash for the last 10 years)

�      Income Statement Summary

�      Assets

�      Liabilities

�      Cashflow

�      If you want quarterly data, you can change your preferences in FA and print quarterly data.

�      Choose Earnings Estimates (EE)

�      Choose Zacks

�      Print off first page

�      If you do not have a beta, pick Beta Calculations (BETA)

�      Using the tab button, you can change the period to M

�      Using the tab button, you can change the range to a 5-year range

�      Using the tab button, you can also change the market index.

�      Go back to the main menu (out of equity). Pick Corp Bond.

�      Enter the name of your company

�      You will get a list of corporate bonds issued by your company, if any.

�      Choose a long-term bond (preferable without special features like convertibility) from the list.

�      Choose Description


WHERE TO FIND THE DATA

This is a listing of all of the financial data that you will need to analyze your company and where exactly on the Bloomberg output you will find the data. Once you have identified what you would like to look up, use the item number and go to the specified page number on Bloomberg to look it up.

Item                 Input                                                                In Bloomberg                                      Page Number       Used in this spreadsheet

1                      Beta                                                                 Equity: Beta Calculation                      29                         Capstr, Dividend, Valuation

2                      Current EPS                                                    Equity: Description                             8                        Valuation

3                      Payout Ratio                                                    Equity: Description                             10                        Valuation

4                      Total Debt                                                       Equity: Description                             16                         Capstr, Dividend, Valuation

5                      Book Value of Equity                                     Equity: Description                             16                         CapStr, Valuation

6                      Number of Shares Outstanding                       Equity: Description                             8                           CapStr, Valuation

7                      Effective Tax Rate                                           Equity: Description                             10                         CapStr, Valuation

8                      Chg in Non-Cash Working Capital                 Equity: Description                             17                        Valuation

9                      Capital Expenditures                                       Equity: Description                             17                         CapStr, Valuation                                                                                

10                    Depreciation & Amortization                           Equity: Description                             17                         CapStr, Valuation

11                    EPS - 5 years ago                                            Equity: FA (Income)                           12                        Valuation

12                    Analyst Projection for Growth                        Equity: Earnings Estimates                  27                        Valuation

13                    Interest Expenses                                            Equity: Description                             15                         CapStr, Valuation

14                    Net Sales/ Revenues                                        Equity: Description                             15                        Valuation

15                    Market Capitalization                                      Equity: Description                             8                           Risk, CapStr, Valuation                                                                       

16                    EBIT (/Operating Income)                              Equity: Description                             15                         CapStr

17                    Bond Rating                                                    Corp Bond: Description                      31                         CapStr

18                    Past 10 years Net Income                                Equity: FA (Cashflow)                       25                        Dividends

19                    Past 10 years Depreciation                              Equity: FA (Cashflow)                       25                        Dividends

20                    Past 10 years Chg in non-cash Work. Cap.     Equity: FA (Cashflow)                       26                        Dividends

21                    Past 10 years Dividends                                  Equity: FA (Cashflow)                       26                        Dividends

22                    Past 10 years Equity Buybacks                       Equity FA (Cashflow)                        25                        Dividends

23                    Past 10 years Cap Ex                                      Equity: FA (Cashflow)                       26                        Dividends

24                    Average Debt Ratio 10 years                          Equity FA (Leverage)                         21                        Dividends

25                    Past 10 years BV of Equity                             Equity FA (Liabilities)                        24                        Dividends

26                    Total Return on Stock                                     Equity: FA (Price Ratio)                     18                        Dividends

27                    Operating Income past 10 years                      Equity: FA (Income)                           22                        DebtDesign

28                    Stock Price Volatility                                      Equity: HVT                                       28                         Risk, Option pricing

29                    Value of Firm: Last 10 years                           Equity: FA (Enterprise Value)            21                        Dividends

30                    EBITDA for last 10 years                               Equity: FA (Income)                           21                         Capital Structure

31                    Alpha (Intercept)                                             Beta Calculation                                  29                         Risk

32                    R squared                                                        Beta Calculation                                  29                         Risk

33                    Standard Error of Beta                                    Beta Calculation                                  29                         Risk

34a                  Stockholders of record                                    Equity: HDS                                       8                        Corporate Governance

34b                  Percent of institutional holding                        Equity: DES                                        11                        Corporate Governance

35                    Debt Distribution/ Maturity                             Equity: DDIS                                      30                         Debt value, WACC

36                    Business Breakdown                                      Equity: DES                                        13                         Risk

37                    Geographic Breakdown                                  Equity: DES                                        14                         Risk, Financing Choices

38                    Non-cash Working Capital                              Equity: DES                                        16                        Valuation, Dividend policy

39                    Net Debt Issued                                              Equity: DES                                        16                        Valuation, Dividend policy

 

As a general rule, stay away from the computational data provided by Bloomberg, where they try to estimate numbers based upon raw data. For instance, the WACC and Dividend discount model valuations that they provide are not very useful.


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DATA ON COMPARABLE COMPANIES

I. Getting data on related companies

�      Pick Equity

�      Choose 1. Finding Securities

�      Choose Ticker Symbol Look up (TK)

�      Enter the name of your company

�      Once you are in equity screen for your company, enter

�      Relative Value (RV): You can modify the data that is printed out. In particular, you can change the display to include only those items that you want for all of your comparable firms by going into the �Edit� function and changing the display.

�      Peer Value (PV): Your company�s numbers will be printed out next to the average for the sector and the entire market.

Bloomberg will pick the comparable companies and you will have little flexibility. If you prefer to pick your own comparables, try the alternate approach (QSRC, two pages forward).

 

II. Using Bloomberg to get Sector Data or to Screen Stocks

�      Start with this screen by typing �ESRC�.  You will begin with this screen. If you want to screen based on market cap, PE or growth, you can do it here. (For example, I have screened for stocks with market cap> 30 million)

 

�     

�      Restrict your search to just common stocks to avoid multiple listings for the same company:

 

�      Pick the country or countries you want to screen for

 

�      And make sure that you pick the exchanges to go with those countries. Looking for French stocks on the Indonesian exchange will give you no listings�..

 

 

�      Pick the industry group you want to analyze or collect data from

 

�      Go into the Edit function and choose the items you want displayed in your output.

 

 

Warning: This is not the friendliest interface in the world. You will often find yourself building elaborate criteria for 20 minutes and then losing them all because you hit the menu button twice instead of once. I would suggest saving the criteria under Save Set as you go along and assigning the criteria set a name. I would also suggest adding the company name to your data set - the default is only the ticker symbols, which are tough to expand, and keeping your data sets manageable.

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