public IncomeStatementCollection ProjectIncomeStatementsAvgRevenueGrowth(string symbol, int fromYear, int yrsToProject)
{
IncomeStatementCollection incProjections = IncomeStatementBL.Instance.GetIncomeStatements(symbol, fromYear - 2, fromYear);
CheckEnoughIncomeStatements(incProjections);
decimal avgGrowthRate = GetRevenueAverageGrowthRate(incProjections);
for (int i = fromYear + 1; i < fromYear + yrsToProject + 1; i++)
{
IncomeStatement lastYrInc = incProjections.Find(i - 1);
if (lastYrInc != null)
{
incProjections.Add(new IncomeStatement(
incProjections[0].Symbol,
i,
lastYrInc.Revenue * (1 + avgGrowthRate),
lastYrInc.Revenue * (1 + avgGrowthRate) * GetAvgPercentOfSales("Cogs", incProjections),
lastYrInc.Revenue * (1 + avgGrowthRate) * GetAvgPercentOfSales("OperatingExpenses", incProjections),
lastYrInc.Revenue * (1 + avgGrowthRate) * GetAvgPercentOfSales("Depreciation", incProjections),
lastYrInc.Revenue * (1 + avgGrowthRate) * GetAvgPercentOfSales("NetIncome", incProjections),
lastYrInc.Revenue * (1 + avgGrowthRate) * GetAvgPercentOfSales("CapitalExpenditures", incProjections)
));
}
}
return(incProjections);
}
public BalanceSheetCollection ProjectBalanceSheets(string symbol, int fromYear, int yrsToProject, IncomeStatementCollection incs)
{
BalanceSheetCollection balProjections = BalanceSheetBL.Instance.GetBalanceSheets(symbol, fromYear - 2, fromYear);
if (balProjections == null || balProjections.Count < 1)
{
throw new Exception("Not enough Balance Sheet Data");
}
for (int i = fromYear + 1; i < fromYear + yrsToProject + 1; i++)
{
IncomeStatement thisInc = incs.Find(i);
if (thisInc != null)
{
balProjections.Add(new BalanceSheet(
incs[0].Symbol,
i,
thisInc.Revenue * GetAvgPercentOfSales("CurrentAssets", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("CurrentLiabilities", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("Ppe", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("Cash", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("Debt", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("ShareholdersEquity", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("TotalAssets", balProjections, incs)
));
}
}
return balProjections;
}
public IncomeStatementCollection ProjectIncomeStatementsDecayRevenueGrowth(string symbol, int fromYear, int yrsToProject, decimal endGrowth)
{
IncomeStatementCollection incProjections = IncomeStatementBL.Instance.GetIncomeStatements(symbol, fromYear - 2, fromYear);
CheckEnoughIncomeStatements(incProjections);
decimal[] yoyGrowth = GetDecayGrowthRates(yrsToProject, endGrowth, incProjections);
int j = 0;
for (int i = fromYear + 1; i < fromYear + yrsToProject + 1; i++)
{
IncomeStatement lastYrInc = incProjections.Find(i - 1);
if (lastYrInc != null)
{
incProjections.Add(new IncomeStatement(
incProjections[0].Symbol,
i,
lastYrInc.Revenue * (1 + yoyGrowth[j]),
lastYrInc.Revenue * (1 + yoyGrowth[j]) * GetAvgPercentOfSales("Cogs", incProjections),
lastYrInc.Revenue * (1 + yoyGrowth[j]) * GetAvgPercentOfSales("OperatingExpenses", incProjections),
lastYrInc.Revenue * (1 + yoyGrowth[j]) * GetAvgPercentOfSales("Depreciation", incProjections),
lastYrInc.Revenue * (1 + yoyGrowth[j]) * GetAvgPercentOfSales("NetIncome", incProjections),
lastYrInc.Revenue * (1 + yoyGrowth[j]) * GetAvgPercentOfSales("CapitalExpenditures", incProjections)
));
}
j++;
}
return(incProjections);
}
public IncomeStatementCollection GetIncomeStatements(string tickerSymbol, int fromYear, int toYear)
{
IncomeStatementCollection incs = null;
IncomeStatement inc = null;
MySqlParameter[] parms = new MySqlParameter[] {
new MySqlParameter("@SYMBOL", MySqlDbType.VarChar),
new MySqlParameter("@FROMYEAR", MySqlDbType.Int16),
new MySqlParameter("@TOYEAR", MySqlDbType.Int16)
};
parms[0].Value = tickerSymbol;
parms[1].Value = fromYear;
parms[2].Value = toYear;
using (MySqlDataReader rdr = MySqlHelper.ExecuteReader(MySqlHelper.SV_CONN_STRING, SQL_SELECT_INCS, parms))
{
if (rdr.Read())
{
//If there is one result
incs = new IncomeStatementCollection();
//Scroll through the results
do
{
inc = ConvertReaderToIncomeStatementObject(rdr);
if (inc.Revenue != 0)
{
incs.Add(inc);
}
}while (rdr.Read());
}
}
return(incs);
}
private DiscountedCashFlow GetNetIncomeDiscountedCashFlow(CompanyValuationStatistics cvs, IncomeStatementCollection incProjections,
decimal wacc, decimal terminalGrowth)
{
FreeCashFlowCollection fcfs = _fcfMngr.CalculateFreeCashFlow(cvs.Symbol, cvs.Year, cvs.NoOfYears, incProjections);
DiscountedCashFlow dcf = null;
BalanceSheet bs = BalanceSheetBL.Instance.GetBalanceSheet(cvs.Symbol, cvs.Year);
CompanyAnnualData compData = CompanyAnnualDataBL.Instance.GetCompanyAnnual(cvs.Symbol, cvs.Year);
if (fcfs != null)
{
dcf = new DiscountedCashFlow(cvs.Symbol, cvs.Year, fcfs, wacc, terminalGrowth);
dcf.EnterpriseValue = 0;
for (int i = 1; i < cvs.NoOfYears + 1; i++)
{
decimal discountTo = (decimal)(Math.Pow((double)dcf.DiscountFactor, i));
dcf.EnterpriseValue += (dcf.FreeCashFlows[i - 1].NetIncomeCashFlow * discountTo);
}
dcf.EnterpriseValue += (dcf.TerminalValue * (decimal)(Math.Pow((double)dcf.DiscountFactor, dcf.FreeCashFlows.Count)));
dcf.EquityValue = dcf.EnterpriseValue + bs.Cash - bs.Debt;
dcf.StockValue = dcf.EquityValue / compData.SharesOutstanding;
}
return dcf;
}
private void EnterFinancialData(IncomeStatementCollection incs, BalanceSheetCollection bals, CompanyAnnualData cad, int year, int yearsToLoad)
{
CompanyAnnualDataBL.Instance.UpdateCompanyAnnual(cad);
for (int y = year; y > year - yearsToLoad; y--)
{
IncomeStatementBL.Instance.UpdateIncomeStatement(incs.Find(y));
BalanceSheetBL.Instance.UpdateBalanceSheet(bals.Find(y));
}
}
private void CheckEnoughIncomeStatements(IncomeStatementCollection incs)
{
if (incs.Count < 2)
{
throw new Exception("Not enough Income Statements");
}
else if (incs[0].Revenue == 0 || incs[1].Revenue == 0)
{
throw new Exception("Income Statement fields, Revenue, null");
}
}
public void AddCompanyToDatabase(string symbol, int year, int yearsToLoad)
{
CompanyBL.Instance.UpdateCompany(YahooHtmlParser.Instance.GetCompanyProfile(symbol));
IncomeStatementCollection incs = YahooHtmlParser.Instance.GetIncomeStatementData(symbol, year, yearsToLoad);
BalanceSheetCollection bals = YahooHtmlParser.Instance.GetBalanceSheetData(symbol, year, yearsToLoad);
CompanyAnnualData compAn = YahooHtmlParser.Instance.GetCompanyAnnualData(symbol, year);
YahooHtmlParser.Instance.GetCashFlowStatementData(symbol, year, yearsToLoad, incs);
EnterFinancialData(incs, bals, compAn, year, yearsToLoad);
}
private decimal GetRevenueAverageGrowthRate(IncomeStatementCollection incProjections)
{
decimal[] yoyGrowth = new decimal[incProjections.Count - 1];
for (int i = 0; i < yoyGrowth.Length; i++)
{
yoyGrowth[i] = (incProjections[i + 1].Revenue - incProjections[i].Revenue) / incProjections[i].Revenue;
}
decimal sum = 0;
foreach (decimal perc in yoyGrowth)
{
sum += perc;
}
return(sum / yoyGrowth.Length);
}
private decimal[] GetDecayGrowthRates(int yearsToProject, decimal endGrowth, IncomeStatementCollection incProjections)
{
decimal beginGrowth = 0;
decimal[] yoyFutureGrowth = new decimal[yearsToProject];
decimal increment = (beginGrowth - endGrowth) / (yearsToProject);
yoyFutureGrowth[0] = beginGrowth;
for (int i = 1; i < yearsToProject; i++)
{
yoyFutureGrowth[i] = yoyFutureGrowth[i - 1] - increment;
}
return(yoyFutureGrowth);
}
internal decimal GetAvgPercentOfSales(string itemName, BalanceSheetCollection balProjections, IncomeStatementCollection incs)
{
decimal[] salesMargin = new decimal[balProjections.Count];
for (int i = 0; i < salesMargin.Length; i++)
{
PropertyInfo propInfo = typeof(BalanceSheet).GetProperty(itemName);
decimal value = (decimal)propInfo.GetValue(balProjections[i], null);
salesMargin[i] = value / incs[i].Revenue;
}
decimal sum = 0;
foreach (decimal perc in salesMargin)
{
sum += perc;
}
return sum / salesMargin.Length;
}
private decimal GetAvgPercentOfSales(string itemName, IncomeStatementCollection incProjections)
{
decimal[] salesMargin = new decimal[incProjections.Count];
for (int i = 0; i < salesMargin.Length; i++)
{
PropertyInfo propInfo = typeof(IncomeStatement).GetProperty(itemName);
decimal value = (decimal)propInfo.GetValue(incProjections[i], null);
salesMargin[i] = value / incProjections[i].Revenue;
}
decimal sum = 0;
foreach (decimal perc in salesMargin)
{
sum += perc;
}
return(sum / salesMargin.Length);
}
public FreeCashFlowCollection CalculateFreeCashFlow(string symbol, int year, int yrsToProject ,IncomeStatementCollection incomeStatementProjection)
{
FreeCashFlowCollection fcfs = null;
MarketParameters mktParms = MarketParametersBL.Instance.GetMarketParameters();
BalanceSheetProjectionBL bsProjectionBL = new BalanceSheetProjectionBL();
BalanceSheetCollection bsProjections = bsProjectionBL.ProjectBalanceSheets(symbol, year, yrsToProject, incomeStatementProjection);
if (incomeStatementProjection != null && bsProjections != null)
{
fcfs = new FreeCashFlowCollection();
for (int i = year + 1; i < year + yrsToProject + 1; i++)
{
IncomeStatement inc = incomeStatementProjection.Find(i);
BalanceSheet bs = bsProjections.Find(i);
BalanceSheet lastYrBs = bsProjections.Find(i - 1);
if (inc != null && bs != null)
{
fcfs.Add(new FreeCashFlow(
symbol,
i,
inc.NOP(mktParms.TaxRate),
inc.NetIncome,
(bs.Ppe - lastYrBs.Ppe + inc.Depreciation),
bs.WorkingCapital,
bs.WorkingCapital -lastYrBs.WorkingCapital,
inc.Depreciation,
bs.InvestedCapital
));
}
}
}
return fcfs;
}
public BalanceSheetCollection ProjectBalanceSheets(string symbol, int fromYear, int yrsToProject, IncomeStatementCollection incs)
{
BalanceSheetCollection balProjections = BalanceSheetBL.Instance.GetBalanceSheets(symbol, fromYear - 2, fromYear);
if (balProjections == null || balProjections.Count < 1)
{
throw new Exception("Not enough Balance Sheet Data");
}
for (int i = fromYear + 1; i < fromYear + yrsToProject + 1; i++)
{
IncomeStatement thisInc = incs.Find(i);
if (thisInc != null)
{
balProjections.Add(new BalanceSheet(
incs[0].Symbol,
i,
thisInc.Revenue * GetAvgPercentOfSales("CurrentAssets", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("CurrentLiabilities", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("Ppe", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("Cash", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("Debt", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("ShareholdersEquity", balProjections, incs),
thisInc.Revenue * GetAvgPercentOfSales("TotalAssets", balProjections, incs)
));
}
}
return(balProjections);
}
public IncomeStatementCollection GetIncomeStatements(string tickerSymbol, int fromYear, int toYear)
{
IncomeStatementCollection incs = null;
IncomeStatement inc = null;
MySqlParameter[] parms = new MySqlParameter[] {
new MySqlParameter("@SYMBOL", MySqlDbType.VarChar),
new MySqlParameter("@FROMYEAR", MySqlDbType.Int16),
new MySqlParameter("@TOYEAR", MySqlDbType.Int16)
};
parms[0].Value = tickerSymbol;
parms[1].Value = fromYear;
parms[2].Value = toYear;
using (MySqlDataReader rdr = MySqlHelper.ExecuteReader(MySqlHelper.SV_CONN_STRING, SQL_SELECT_INCS, parms))
{
if (rdr.Read())
{
//If there is one result
incs = new IncomeStatementCollection();
//Scroll through the results
do
{
inc = ConvertReaderToIncomeStatementObject(rdr);
if (inc.Revenue != 0)
{
incs.Add(inc);
}
}
while (rdr.Read());
}
}
return incs;
}
private DiscountedCashFlow GetNetIncomeDiscountedCashFlow(CompanyValuationStatistics cvs, IncomeStatementCollection incProjections,
decimal wacc, decimal terminalGrowth)
{
FreeCashFlowCollection fcfs = _fcfMngr.CalculateFreeCashFlow(cvs.Symbol, cvs.Year, cvs.NoOfYears, incProjections);
DiscountedCashFlow dcf = null;
BalanceSheet bs = BalanceSheetBL.Instance.GetBalanceSheet(cvs.Symbol, cvs.Year);
CompanyAnnualData compData = CompanyAnnualDataBL.Instance.GetCompanyAnnual(cvs.Symbol, cvs.Year);
if (fcfs != null)
{
dcf = new DiscountedCashFlow(cvs.Symbol, cvs.Year, fcfs, wacc, terminalGrowth);
dcf.EnterpriseValue = 0;
for (int i = 1; i < cvs.NoOfYears + 1; i++)
{
decimal discountTo = (decimal)(Math.Pow((double)dcf.DiscountFactor, i));
dcf.EnterpriseValue += (dcf.FreeCashFlows[i - 1].NetIncomeCashFlow * discountTo);
}
dcf.EnterpriseValue += (dcf.TerminalValue * (decimal)(Math.Pow((double)dcf.DiscountFactor, dcf.FreeCashFlows.Count)));
dcf.EquityValue = dcf.EnterpriseValue + bs.Cash - bs.Debt;
dcf.StockValue = dcf.EquityValue / compData.SharesOutstanding;
}
return(dcf);
}
public IncomeStatementCollection GetIncomeStatementData(string symbol, int year, int yearsToLoad)
{
string url = "http://finance.yahoo.com/q/is?s=" + symbol + "+Income+Statement&annual";
HtmlDocument doc = new HtmlWeb().Load(url);
Dictionary<int, Dictionary<string, decimal>> values = new Dictionary<int, Dictionary<string, decimal>>();
Dictionary<string, decimal> inc2012 = new Dictionary<string, decimal>();
Dictionary<string, decimal> inc2011 = new Dictionary<string,decimal>();
Dictionary<string, decimal> inc2010 = new Dictionary<string,decimal>();
foreach (HtmlNode div in doc.DocumentNode.SelectNodes("//td[@colspan='2']"))
{
if (div.InnerHtml.Contains("Total Revenue"))
{
inc2012.Add("Total Revenue", GetValueFromInnerHtml(div.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2011.Add("Total Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2010.Add("Total Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
}
else if (div.InnerHtml.Contains("Cost of Revenue"))
{
inc2012.Add("Cost of Revenue", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Cost of Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Cost of Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.InnerHtml.Contains("Net Income") && !div.InnerHtml.Contains("Ops") && !div.InnerHtml.Contains("To"))
{
inc2012.Add("Net Income", GetValueFromInnerHtml(div.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2011.Add("Net Income", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2010.Add("Net Income", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
}
}
foreach (HtmlNode div in doc.DocumentNode.SelectNodes("//td[@width ='30' and @class='yfnc_tabledata1']"))
{
if (div.NextSibling.NextSibling.InnerHtml.Contains("Research Development"))
{
inc2012.Add("Research Development", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Research Development", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Research Development", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.NextSibling.NextSibling.InnerHtml.Contains("Selling General and Administrative"))
{
inc2012.Add("Selling General and Administrative", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Selling General and Administrative", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Selling General and Administrative", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.NextSibling.NextSibling.InnerHtml.Contains("Non Recurring"))
{
inc2012.Add("Non Recurring", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Non Recurring", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Non Recurring", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.NextSibling.NextSibling.InnerHtml.Contains("Others"))
{
inc2012.Add("Others", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Others", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Others", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Total Other Income/Expenses Net"))
//{
// inc2012.Add("Total Other Income/Expenses Net", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Total Other Income/Expenses Net", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Total Other Income/Expenses Net", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Earnings Before Interest And Taxes"))
//{
// inc2012.Add("Earnings Before Interest And Taxes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Earnings Before Interest And Taxes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Earnings Before Interest And Taxes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Interest Expense"))
//{
// inc2012.Add("Interest Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Interest Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Interest Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Income Tax Expense"))
//{
// inc2012.Add("Income Tax Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Income Tax Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Income Tax Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Minority Interest"))
//{
// inc2012.Add("Minority Interest", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Minority Interest", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Minority Interest", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Discontinued Operations"))
//{
// inc2012.Add("Discontinued Operations", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Discontinued Operations", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Discontinued Operations", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Extraordinary Items"))
//{
// inc2012.Add("Extraordinary Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Extraordinary Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Extraordinary Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Effect Of Accounting Changes"))
//{
// inc2012.Add("Effect Of Accounting Changes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Effect Of Accounting Changes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Effect Of Accounting Changes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Other Items"))
//{
// inc2012.Add("Other Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Other Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Other Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
}
values.Add(2010, inc2010);
values.Add(2011, inc2011);
values.Add(2012, inc2012);
IncomeStatementCollection incs = new IncomeStatementCollection();
for (int y = year; y > year - yearsToLoad; y--)
{
if (values.ContainsKey(y))
{
incs.Add(new IncomeStatement(symbol, y,
values[y]["Total Revenue"],
values[y]["Cost of Revenue"],
values[y]["Research Development"] + values[y]["Selling General and Administrative"] + values[y]["Non Recurring"] + values[y]["Others"],
0,
values[y]["Net Income"],
0)
);
}
}
return incs;
}
private decimal GetRevenueAverageGrowthRate(IncomeStatementCollection incProjections)
{
decimal[] yoyGrowth = new decimal[incProjections.Count - 1];
for (int i = 0; i < yoyGrowth.Length; i++)
{
yoyGrowth[i] = (incProjections[i + 1].Revenue - incProjections[i].Revenue) / incProjections[i].Revenue;
}
decimal sum = 0;
foreach (decimal perc in yoyGrowth)
{
sum += perc;
}
return sum / yoyGrowth.Length;
}
public void GetCashFlowStatementData(string symbol, int year, int yearsToLoad, IncomeStatementCollection incs)
{
Dictionary <int, Dictionary <string, decimal> > values = new Dictionary <int, Dictionary <string, decimal> >();
Dictionary <string, decimal> bs2012 = new Dictionary <string, decimal>();
Dictionary <string, decimal> bs2011 = new Dictionary <string, decimal>();
Dictionary <string, decimal> bs2010 = new Dictionary <string, decimal>();
string url = "http://finance.yahoo.com/q/cf?s=" + symbol + "+Cash+Flow&annual";
HtmlDocument doc = new HtmlWeb().Load(url);
foreach (HtmlNode div in doc.DocumentNode.SelectNodes("//td[@colspan='2']"))
{
if (div.InnerHtml.Contains("Depreciation"))
{
bs2012.Add("Depreciation", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml));
bs2011.Add("Depreciation", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
bs2010.Add("Depreciation", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.InnerHtml.Contains("Capital Expenditures"))
{
bs2012.Add("Capital Expenditures", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml) * -1);
bs2011.Add("Capital Expenditures", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml) * -1);
bs2010.Add("Capital Expenditures", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml) * -1);
}
//else if (div.InnerHtml.Equals("Investments"))
//{
// bs2012.Add("Investments", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml));
// bs2011.Add("Investments", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// bs2010.Add("Investments", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
}
values.Add(2010, bs2010);
values.Add(2011, bs2011);
values.Add(2012, bs2012);
for (int y = year; y > year - yearsToLoad; y--)
{
if (values.ContainsKey(y))
{
incs.Find(y).Depreciation = values[y]["Depreciation"];
incs.Find(y).CapitalExpenditures = values[y]["Capital Expenditures"];
}
}
}
public IncomeStatementCollection GetIncomeStatementData(string symbol, int year, int yearsToLoad)
{
string url = "http://finance.yahoo.com/q/is?s=" + symbol + "+Income+Statement&annual";
HtmlDocument doc = new HtmlWeb().Load(url);
Dictionary <int, Dictionary <string, decimal> > values = new Dictionary <int, Dictionary <string, decimal> >();
Dictionary <string, decimal> inc2012 = new Dictionary <string, decimal>();
Dictionary <string, decimal> inc2011 = new Dictionary <string, decimal>();
Dictionary <string, decimal> inc2010 = new Dictionary <string, decimal>();
foreach (HtmlNode div in doc.DocumentNode.SelectNodes("//td[@colspan='2']"))
{
if (div.InnerHtml.Contains("Total Revenue"))
{
inc2012.Add("Total Revenue", GetValueFromInnerHtml(div.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2011.Add("Total Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2010.Add("Total Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
}
else if (div.InnerHtml.Contains("Cost of Revenue"))
{
inc2012.Add("Cost of Revenue", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Cost of Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Cost of Revenue", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.InnerHtml.Contains("Net Income") && !div.InnerHtml.Contains("Ops") && !div.InnerHtml.Contains("To"))
{
inc2012.Add("Net Income", GetValueFromInnerHtml(div.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2011.Add("Net Income", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
inc2010.Add("Net Income", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes["strong"].ChildNodes[0].InnerHtml));
}
}
foreach (HtmlNode div in doc.DocumentNode.SelectNodes("//td[@width ='30' and @class='yfnc_tabledata1']"))
{
if (div.NextSibling.NextSibling.InnerHtml.Contains("Research Development"))
{
inc2012.Add("Research Development", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Research Development", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Research Development", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.NextSibling.NextSibling.InnerHtml.Contains("Selling General and Administrative"))
{
inc2012.Add("Selling General and Administrative", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Selling General and Administrative", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Selling General and Administrative", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.NextSibling.NextSibling.InnerHtml.Contains("Non Recurring"))
{
inc2012.Add("Non Recurring", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Non Recurring", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Non Recurring", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.NextSibling.NextSibling.InnerHtml.Contains("Others"))
{
inc2012.Add("Others", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2011.Add("Others", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
inc2010.Add("Others", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Total Other Income/Expenses Net"))
//{
// inc2012.Add("Total Other Income/Expenses Net", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Total Other Income/Expenses Net", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Total Other Income/Expenses Net", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Earnings Before Interest And Taxes"))
//{
// inc2012.Add("Earnings Before Interest And Taxes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Earnings Before Interest And Taxes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Earnings Before Interest And Taxes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Interest Expense"))
//{
// inc2012.Add("Interest Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Interest Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Interest Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Income Tax Expense"))
//{
// inc2012.Add("Income Tax Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Income Tax Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Income Tax Expense", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Minority Interest"))
//{
// inc2012.Add("Minority Interest", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Minority Interest", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Minority Interest", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Discontinued Operations"))
//{
// inc2012.Add("Discontinued Operations", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Discontinued Operations", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Discontinued Operations", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Extraordinary Items"))
//{
// inc2012.Add("Extraordinary Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Extraordinary Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Extraordinary Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Effect Of Accounting Changes"))
//{
// inc2012.Add("Effect Of Accounting Changes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Effect Of Accounting Changes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Effect Of Accounting Changes", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
//else if (div.NextSibling.NextSibling.InnerHtml.Contains("Other Items"))
//{
// inc2012.Add("Other Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2011.Add("Other Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// inc2010.Add("Other Items", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
}
values.Add(2010, inc2010);
values.Add(2011, inc2011);
values.Add(2012, inc2012);
IncomeStatementCollection incs = new IncomeStatementCollection();
for (int y = year; y > year - yearsToLoad; y--)
{
if (values.ContainsKey(y))
{
incs.Add(new IncomeStatement(symbol, y,
values[y]["Total Revenue"],
values[y]["Cost of Revenue"],
values[y]["Research Development"] + values[y]["Selling General and Administrative"] + values[y]["Non Recurring"] + values[y]["Others"],
0,
values[y]["Net Income"],
0)
);
}
}
return(incs);
}
public FreeCashFlowCollection CalculateFreeCashFlow(string symbol, int year, int yrsToProject, IncomeStatementCollection incomeStatementProjection)
{
FreeCashFlowCollection fcfs = null;
MarketParameters mktParms = MarketParametersBL.Instance.GetMarketParameters();
BalanceSheetProjectionBL bsProjectionBL = new BalanceSheetProjectionBL();
BalanceSheetCollection bsProjections = bsProjectionBL.ProjectBalanceSheets(symbol, year, yrsToProject, incomeStatementProjection);
if (incomeStatementProjection != null && bsProjections != null)
{
fcfs = new FreeCashFlowCollection();
for (int i = year + 1; i < year + yrsToProject + 1; i++)
{
IncomeStatement inc = incomeStatementProjection.Find(i);
BalanceSheet bs = bsProjections.Find(i);
BalanceSheet lastYrBs = bsProjections.Find(i - 1);
if (inc != null && bs != null)
{
fcfs.Add(new FreeCashFlow(
symbol,
i,
inc.NOP(mktParms.TaxRate),
inc.NetIncome,
(bs.Ppe - lastYrBs.Ppe + inc.Depreciation),
bs.WorkingCapital,
bs.WorkingCapital - lastYrBs.WorkingCapital,
inc.Depreciation,
bs.InvestedCapital
));
}
}
}
return(fcfs);
}
private void CheckEnoughIncomeStatements(IncomeStatementCollection incs)
{
if (incs.Count < 2)
{
throw new Exception("Not enough Income Statements");
}
else if (incs[0].Revenue == 0 || incs[1].Revenue == 0)
{
throw new Exception("Income Statement fields, Revenue, null");
}
}
public void GetCashFlowStatementData(string symbol, int year, int yearsToLoad, IncomeStatementCollection incs)
{
Dictionary<int, Dictionary<string, decimal>> values = new Dictionary<int, Dictionary<string, decimal>>();
Dictionary<string, decimal> bs2012 = new Dictionary<string, decimal>();
Dictionary<string, decimal> bs2011 = new Dictionary<string, decimal>();
Dictionary<string, decimal> bs2010 = new Dictionary<string, decimal>();
string url = "http://finance.yahoo.com/q/cf?s=" + symbol + "+Cash+Flow&annual";
HtmlDocument doc = new HtmlWeb().Load(url);
foreach (HtmlNode div in doc.DocumentNode.SelectNodes("//td[@colspan='2']"))
{
if (div.InnerHtml.Contains("Depreciation"))
{
bs2012.Add("Depreciation", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml));
bs2011.Add("Depreciation", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
bs2010.Add("Depreciation", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
}
else if (div.InnerHtml.Contains("Capital Expenditures"))
{
bs2012.Add("Capital Expenditures", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml) * -1);
bs2011.Add("Capital Expenditures", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml) * -1);
bs2010.Add("Capital Expenditures", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml) * -1);
}
//else if (div.InnerHtml.Equals("Investments"))
//{
// bs2012.Add("Investments", GetValueFromInnerHtml(div.NextSibling.ChildNodes[0].InnerHtml));
// bs2011.Add("Investments", GetValueFromInnerHtml(div.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
// bs2010.Add("Investments", GetValueFromInnerHtml(div.NextSibling.NextSibling.NextSibling.ChildNodes[0].InnerHtml));
//}
}
values.Add(2010, bs2010);
values.Add(2011, bs2011);
values.Add(2012, bs2012);
for (int y = year; y > year - yearsToLoad; y--)
{
if (values.ContainsKey(y))
{
incs.Find(y).Depreciation = values[y]["Depreciation"];
incs.Find(y).CapitalExpenditures = values[y]["Capital Expenditures"];
}
}
}
private decimal[] GetDecayGrowthRates(int yearsToProject, decimal endGrowth, IncomeStatementCollection incProjections)
{
decimal beginGrowth = 0;
decimal[] yoyFutureGrowth = new decimal[yearsToProject];
decimal increment = (beginGrowth - endGrowth) / (yearsToProject);
yoyFutureGrowth[0] = beginGrowth;
for (int i = 1; i < yearsToProject; i++)
{
yoyFutureGrowth[i] = yoyFutureGrowth[i - 1] - increment;
}
return yoyFutureGrowth;
}
private void EnterFinancialData(IncomeStatementCollection incs, BalanceSheetCollection bals, CompanyAnnualData cad, int year, int yearsToLoad)
{
CompanyAnnualDataBL.Instance.UpdateCompanyAnnual(cad);
for (int y = year; y > year - yearsToLoad; y--)
{
IncomeStatementBL.Instance.UpdateIncomeStatement(incs.Find(y));
BalanceSheetBL.Instance.UpdateBalanceSheet(bals.Find(y));
}
}
