Init
This commit is contained in:
674
ViewModels/DCFValuationViewModel.cs
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674
ViewModels/DCFValuationViewModel.cs
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using System;
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using System.ComponentModel;
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using System.Collections.Generic;
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using System.Collections.ObjectModel;
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using System.Collections.Specialized;
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using System.Linq;
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using System.Text;
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using System.Windows.Media;
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using System.Windows.Input;
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using System.Threading.Tasks;
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using MarketData;
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using MarketData.Numerical;
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using MarketData.Utils;
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using MarketData.MarketDataModel;
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using MarketData.Generator;
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using MarketData.DataAccess;
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using TradeBlotter.DataAccess;
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using TradeBlotter.Command;
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using TradeBlotter.Model;
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using Microsoft.Research.DynamicDataDisplay.DataSources;
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namespace TradeBlotter.ViewModels
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{
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public class DCFValuationViewModel : WorkspaceViewModel
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{
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private List<String> symbols;
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private List<String> watchLists;
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private String selectedWatchList;
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private String selectedSymbol;
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private String companyName;
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private ObservableCollection<ReturnItem> dcf = null;
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private bool busyIndicator = false;
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private DCFValuation dcfValuation = null;
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public DCFValuationViewModel()
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{
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base.DisplayName = "DCF Valuation";
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watchLists = WatchListDA.GetWatchLists();
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watchLists.Insert(0, Constants.CONST_ALL);
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selectedWatchList = watchLists.Find(x => x.Equals("Valuations"));
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symbols = WatchListDA.GetWatchList(selectedWatchList);
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selectedSymbol = null;
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PropertyChanged += OnDCFViewModelPropertyChanged;
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base.OnPropertyChanged("SelectedSymbol");
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}
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// ******************************************************************************************** P E R S I S T E N C E ********************************************************************************************
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public override bool CanPersist()
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{
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return true;
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}
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public override SaveParameters GetSaveParameters()
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{
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SaveParameters saveParams = new SaveParameters();
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if (null == selectedSymbol) return null;
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saveParams.Add(new KeyValuePair<String, String>("Type", GetType().Namespace + "." + GetType().Name));
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saveParams.Add(new KeyValuePair<String, String>("SelectedSymbol", selectedSymbol));
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saveParams.Add(new KeyValuePair<String, String>("SelectedWatchList", selectedWatchList));
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return saveParams;
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}
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public override void SetSaveParameters(SaveParameters saveParameters)
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{
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try
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{
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if(saveParameters.ContainsKey("SelectedSymbol")) selectedSymbol=(from KeyValuePair<String,String> item in saveParameters where item.Key.Equals("SelectedSymbol") select item).FirstOrDefault().Value;
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if(saveParameters.ContainsKey("SelectedWatchList")) selectedWatchList=(from KeyValuePair<String,String> item in saveParameters where item.Key.Equals("SelectedWatchList") select item).FirstOrDefault().Value;
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Referer=saveParameters.Referer;
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base.OnPropertyChanged("SelectedWatchList");
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base.OnPropertyChanged("SelectedSymbol");
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}
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catch (Exception exception)
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{
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MDTrace.WriteLine(LogLevel.DEBUG,String.Format("Exception:{0}",exception.ToString()));
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}
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}
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// ******************************************************************************************************************************************************
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public bool BusyIndicator
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{
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get { return busyIndicator; }
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set
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{
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busyIndicator = value;
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base.OnPropertyChanged("BusyIndicator");
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}
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}
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public ObservableCollection<ReturnItem> AllDCF
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{
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get
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{
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return dcf;
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}
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set
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{
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dcf = value;
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base.OnPropertyChanged("AllDCF");
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}
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}
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private void OnDCFViewModelPropertyChanged(object sender, PropertyChangedEventArgs eventArgs)
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{
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if (eventArgs.PropertyName.Equals("SelectedSymbol"))
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{
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if(null==selectedSymbol)return;
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base.DisplayName = "Discounted Cashflow Valuation(" + selectedSymbol + ")";
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base.OnPropertyChanged("DisplayName");
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HandleSelectedSymbol();
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}
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else if (eventArgs.PropertyName.Equals("SelectedWatchList"))
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{
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if(null==selectedWatchList)return;
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HandleSelectedWatchList();
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}
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}
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private void HandleSelectedSymbol()
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{
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BusyIndicator = true;
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Task workerTask = Task.Factory.StartNew(() =>
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{
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if (null != selectedSymbol)
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{
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dcf = null;
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companyName = PricingDA.GetNameForSymbol(selectedSymbol);
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dcfValuation = DCFGenerator.GenerateDCFValuation(selectedSymbol);
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if (null != dcfValuation.ReturnItems && 0 != dcfValuation.ReturnItems.Count)
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{
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dcf = new ObservableCollection<ReturnItem>();
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for(int index=0;index<dcfValuation.ReturnItems.Count;index++)
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{
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ReturnItem returnItem=dcfValuation.ReturnItems[index];
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dcf.Add(returnItem);
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}
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}
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}
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});
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workerTask.ContinueWith((continuation) =>
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{
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BusyIndicator = false;
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UpdateData();
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UpdateDescriptions();
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});
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}
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private void UpdateData()
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{
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base.OnPropertyChanged("AllDCF");
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base.OnPropertyChanged("Beta");
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base.OnPropertyChanged("HistoricalMarketReturn");
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base.OnPropertyChanged("RiskFreeRate");
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base.OnPropertyChanged("MarketCap");
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base.OnPropertyChanged("TotalDebt");
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base.OnPropertyChanged("WACC");
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base.OnPropertyChanged("ROIC");
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base.OnPropertyChanged("CapitalBackground");
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base.OnPropertyChanged("CostOfDebt");
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base.OnPropertyChanged("CostOfEquity");
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base.OnPropertyChanged("TaxRate");
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base.OnPropertyChanged("TotalEquity");
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base.OnPropertyChanged("TotalCapitalInvested");
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base.OnPropertyChanged("InterestExpense");
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base.OnPropertyChanged("OutstandingShares");
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base.OnPropertyChanged("PresentValue");
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base.OnPropertyChanged("EstimatedStockPrice");
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base.OnPropertyChanged("MOS");
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base.OnPropertyChanged("MOSBackground");
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base.OnPropertyChanged("MOS80");
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base.OnPropertyChanged("MOS80Background");
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base.OnPropertyChanged("IntrinsicValue");
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base.OnPropertyChanged("RGVIntrinsic");
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base.OnPropertyChanged("IntrinsicValueRevised");
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base.OnPropertyChanged("RGVIntrinsicValueRevised");
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base.OnPropertyChanged("CurrentPrice");
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base.OnPropertyChanged("PriceDate");
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base.OnPropertyChanged("FreeCashflowGrowth");
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base.OnPropertyChanged("Message");
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base.OnPropertyChanged("Title");
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}
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private void UpdateDescriptions()
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{
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base.OnPropertyChanged("BetaDescription");
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base.OnPropertyChanged("InterestExpenseDescription");
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base.OnPropertyChanged("CostOfEquityDescription");
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base.OnPropertyChanged("CostOfDebtDescription");
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base.OnPropertyChanged("ROICDescription");
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base.OnPropertyChanged("WACCDescription");
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base.OnPropertyChanged("TotalCapitalInvestedDescription");
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base.OnPropertyChanged("TotalLongAndShortTermDebtDescription");
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base.OnPropertyChanged("TotalEquityDescription");
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base.OnPropertyChanged("RiskFreeRateDescription");
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base.OnPropertyChanged("HistoricalMarketReturnDescription");
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base.OnPropertyChanged("OutstandingSharesDescription");
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base.OnPropertyChanged("MOSDescription");
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base.OnPropertyChanged("MOS80Description");
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base.OnPropertyChanged("SumOfDiscountedCashflowsDescription");
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base.OnPropertyChanged("EstimatedStockPriceDescription");
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base.OnPropertyChanged("LatestPriceDescription");
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base.OnPropertyChanged("PriceDateDescription");
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base.OnPropertyChanged("IntrinsicValueDescription");
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base.OnPropertyChanged("IntrinsicValueRevisedDescription");
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base.OnPropertyChanged("RGVIntrinsicRevDescription");
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base.OnPropertyChanged("FreeCashflowGrowthDescription");
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}
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public void OnErrorItemHandler(String symbol, String message)
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{
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}
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private void HandleSelectedWatchList()
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{
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if (selectedWatchList.Equals(Constants.CONST_ALL)) symbols = PricingDA.GetSymbols();
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else
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{
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symbols = WatchListDA.GetWatchList(selectedWatchList);
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}
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base.OnPropertyChanged("Symbols");
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}
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// ************************************************************************************************************************************************************************
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// ********************************************************************************** C O L O R S C H E M E **************************************************************
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// ************************************************************************************************************************************************************************
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public Brush CapitalBackground
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{
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get
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{
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if (null == dcfValuation || !dcfValuation.Success) return null;
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if (dcfValuation.Enhancements.ROIC > dcfValuation.WACC) return new SolidColorBrush(Colors.LightGreen);
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return new SolidColorBrush(Colors.Red);
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}
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}
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public Brush MOSBackground
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{
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get
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{
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if (null == dcfValuation || !dcfValuation.Success || null == dcfValuation.CurrentPrice) return null;
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if (dcfValuation.CurrentPrice.Close > dcfValuation.StockPriceValuation) return new SolidColorBrush(Colors.Red);
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return new SolidColorBrush(Colors.LightGreen);
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}
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}
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public Brush MOS80Background
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{
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get
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{
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if (null == dcfValuation || !dcfValuation.Success || null == dcfValuation.CurrentPrice) return null;
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if (dcfValuation.CurrentPrice.Close > dcfValuation.StockPriceValuation) return new SolidColorBrush(Colors.Red);
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return new SolidColorBrush(Colors.LightGreen);
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}
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}
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// ************************************************************************************************************************************************************************
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public override String Title
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{
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get
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{
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if (null != companyName && null != selectedSymbol) return "Discounted Cashflow Valuation - (" + selectedSymbol + ") " + companyName;
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return "Discounted Cashflow Valuation";
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}
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}
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public String Beta
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Beta)? Constants.CONST_DASHES : Utility.FormatNumber(dcfValuation.Beta,2);
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}
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}
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public String HistoricalMarketReturn
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.MarketReturn) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.MarketReturn);
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}
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}
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public String RiskFreeRate
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.RiskFreeRate) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.RiskFreeRate);
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}
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}
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public String MarketCap
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.MarketValueOfEquity) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.MarketValueOfEquity);
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}
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}
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public String TotalDebt
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.TotalDebt) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.TotalDebt);
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}
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}
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public String WACC
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.WACC) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.WACC);
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}
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}
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public String ROIC
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Enhancements.ROIC) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.Enhancements.ROIC);
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}
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}
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public String CostOfDebt
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.CostOfDebt) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.CostOfDebt);
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}
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}
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public String CostOfEquity
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.CostOfEquity) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.CostOfEquity);
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}
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}
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public String TaxRate
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.CorporateTaxRate) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.CorporateTaxRate);
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}
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}
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public String TotalEquity
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.MarketValueOfEquity) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.MarketValueOfEquity);
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}
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}
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public String TotalCapitalInvested
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.TotalCapitalInvested) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.TotalCapitalInvested);
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}
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}
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public String InterestExpense
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.InterestExpense) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.InterestExpense);
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}
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}
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public String OutstandingShares
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.OutstandingShares) ? Constants.CONST_DASHES : Utility.FormatNumber(dcfValuation.OutstandingShares, 0, true);
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}
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}
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public String PresentValue
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.PresentValue) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.PresentValue);
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}
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}
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public String EstimatedStockPrice
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.StockPriceValuation) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.StockPriceValuation);
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}
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}
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public String CurrentPrice
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || null == dcfValuation.CurrentPrice || double.NaN.Equals(dcfValuation.CurrentPrice.Close) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.CurrentPrice.Close);
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}
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}
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public String PriceDate
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || null == dcfValuation.CurrentPrice ? Constants.CONST_DASHES : Utility.DateTimeToStringMMHDDHYYYY(dcfValuation.CurrentPrice.Date);
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}
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}
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public String FreeCashflowGrowth
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.FreeCashflowGrowth) ? Constants.CONST_DASHES : Utility.FormatPercent(dcfValuation.FreeCashflowGrowth);
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}
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}
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public String MOS
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Enhancements.MOS) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.Enhancements.MOS);
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}
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}
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public String MOS80
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Enhancements.MOS80) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.Enhancements.MOS80);
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}
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}
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public String IntrinsicValue
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Enhancements.IntrinsicValue) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.Enhancements.IntrinsicValue);
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}
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}
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public String RGVIntrinsic
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Enhancements.RGVIntrinsic) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.Enhancements.RGVIntrinsic);
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}
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}
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public String IntrinsicValueRevised
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Enhancements.IntrinsicValueRevised) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.Enhancements.IntrinsicValueRevised);
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}
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}
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public String RGVIntrinsicValueRevised
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{
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get
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{
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return dcfValuation == null || !dcfValuation.Success || double.NaN.Equals(dcfValuation.Enhancements.RGVIntrinsicRevised) ? Constants.CONST_DASHES : Utility.FormatCurrency(dcfValuation.Enhancements.RGVIntrinsicRevised);
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}
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}
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public String Message
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{
|
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get
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{
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return dcfValuation == null ? Constants.CONST_DASHES : dcfValuation.Message;
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||||
}
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}
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public List<String> Symbols
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{
|
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get
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{
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return symbols;
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||||
}
|
||||
}
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public String SelectedSymbol
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{
|
||||
get
|
||||
{
|
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return selectedSymbol;
|
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}
|
||||
set
|
||||
{
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if (value == selectedSymbol || String.IsNullOrEmpty(value)) return;
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selectedSymbol = value;
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base.OnPropertyChanged("SelectedSymbol");
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||||
}
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||||
}
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public List<String> WatchListNames
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||||
{
|
||||
get
|
||||
{
|
||||
return watchLists;
|
||||
}
|
||||
set { ;}
|
||||
}
|
||||
public String SelectedWatchList
|
||||
{
|
||||
get { return selectedWatchList; }
|
||||
set { selectedWatchList = value; base.OnPropertyChanged("SelectedWatchList"); }
|
||||
}
|
||||
// ************************************************************************************************************************************************************************************************************************************************
|
||||
// ************************************************************************************************ T O O L T I P C A L L O U T S **************************************************************************************************************
|
||||
// ************************************************************************************************************************************************************************************************************************************************
|
||||
public String HistoricalMarketReturnDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
try
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
if(dcfValuation.UseMarketReturn)sb.Append("Using a calculated market return of ").Append(Utility.FormatPercent(dcfValuation.MarketReturn,2));
|
||||
else sb.Append("Using a constant market return of ").Append(Utility.FormatPercent(dcfValuation.MarketReturn,2));
|
||||
return sb.ToString();
|
||||
}
|
||||
catch(Exception)
|
||||
{
|
||||
return Constants.NA;
|
||||
}
|
||||
}
|
||||
}
|
||||
public String BetaDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
try
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
sb.Append("Beta is a measure of a stock's volatility in relation to the overall market. By definition, the market, such as the S&P 500 Index, has a beta of 1.0, and individual stocks are ranked according to how").Append("\n");
|
||||
sb.Append("much they deviate from the market. A stock that swings more than the market has a beta above 1.0. If a stock moves less than the market, the stock's beta is less than 1.0. ").Append("\n");
|
||||
sb.Append("High-beta stocks are supposed to be riskier but provide higher return potential; low-beta stocks pose less risk but also lower returns. ").Append("\n");
|
||||
sb.Append("Beta = 36 month internally calculated beta.").Append("\n");
|
||||
sb.Append("Beta = Covariance(Ra,Rm)/Variance(Ra). Where Rm = Return of the market (SPY), Ra = Return of the asset.").Append("\n");
|
||||
sb.Append(dcfValuation.Symbol).Append(" has a Beta of ").Append(Utility.FormatNumber(dcfValuation.Beta,2)).Append(" which is ").Append(dcfValuation.Beta>1?"more volatile ":"less volatile ").Append("than the market.").Append("\n");
|
||||
sb.Append(dcfValuation.Symbol).Append(" offers ").Append(dcfValuation.Beta>1?"more risk but more return potential ":"less risk but less return potential ").Append("than the market.").Append("\n");
|
||||
return sb.ToString();
|
||||
}
|
||||
catch(Exception)
|
||||
{
|
||||
return Constants.NA;
|
||||
}
|
||||
}
|
||||
}
|
||||
public String InterestExpenseDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
return "Interest Expense (Annual): This is sourced from Historical(M*) as 'InterestExpense' if available otherwise from the IncomeStatement as 'InterestExpense'";
|
||||
}
|
||||
}
|
||||
public String CostOfEquityDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
try
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
sb.Append("Cost of equity is the return that a company requires for an investment or project, or the return that an individual requires for an equity investment.").Append("\n");
|
||||
sb.Append("Cost of Equity: Using CAPM cost of equity is calculated as rE = RFR + Beta * (Rm - RFR). Where RFR=Risk Free Rate, Beta=Market Beta, Rm=Annual Return.").Append("\n");
|
||||
sb.Append("rE = ").Append(Utility.FormatNumber(dcfValuation.RiskFreeRate,2)).Append(" + ");
|
||||
sb.Append(Utility.FormatNumber(dcfValuation.Beta,2)).Append(" * ").Append("(");
|
||||
sb.Append(Utility.FormatNumber(dcfValuation.MarketReturn)).Append(" - ").Append(Utility.FormatNumber(dcfValuation.RiskFreeRate,2)).Append(")");
|
||||
if(dcfValuation.UseMarketReturn)sb.Append("Using a calculated market return of ").Append(Utility.FormatNumber(dcfValuation.MarketReturn,2));
|
||||
else sb.Append("Using a constant market return of ").Append(Utility.FormatNumber(dcfValuation.MarketReturn,2));
|
||||
return sb.ToString();
|
||||
}
|
||||
catch(Exception)
|
||||
{
|
||||
return Constants.NA;
|
||||
}
|
||||
}
|
||||
}
|
||||
public String CostOfDebtDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
try
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
sb.Append("Cost of debt is the effective interest rate that a company pays on its debts, such as bonds and loans.").Append("\n");
|
||||
sb.Append("Cost of Debt rD = ( Ei / D) * (1 - Tc).").Append("Where Ei = Interest Expense, D = Total Debt, Tc = Tax Rate.").Append("\n");
|
||||
sb.Append("rD = ").Append(Utility.FormatNumber(dcfValuation.InterestExpense,2,true)).Append(" / ").Append(Utility.FormatNumber(dcfValuation.TotalDebt,2,true)).Append(")");
|
||||
sb.Append(" * ").Append("(").Append(Utility.FormatNumber(1,2)).Append(" - ").Append(Utility.FormatNumber(dcfValuation.CorporateTaxRate,2)).Append(")");
|
||||
return sb.ToString();
|
||||
}
|
||||
catch(Exception)
|
||||
{
|
||||
return Constants.NA;
|
||||
}
|
||||
}
|
||||
}
|
||||
public String RiskFreeRateDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
return "Current yield on 90 day (3M) Treasury. This can be verified by going to the \"Treasury Yield Curve\" tab and looking at the current 3M value.";
|
||||
}
|
||||
}
|
||||
public String ROICDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
sb.Append("Return on Invested Capital. Sourced from historical time series").Append("\n");
|
||||
sb.Append(@"Return on Invested Capital (ROIC) is a return ratio that expresses recurring operating profits as a percentage of the company's net operational assets ").Append("\n");
|
||||
sb.Append("The profit figure used is earnings before interest and taxes or EBIT and is unaffected by capital structure.").Append("\n");
|
||||
return sb.ToString();
|
||||
}
|
||||
}
|
||||
public String WACCDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
try
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
sb.Append("Weighted average cost of capital (WACC) represents a firm’s average after-tax cost of capital from all sources, including common stock, preferred stock, bonds, and other forms of debt.").Append("\n");
|
||||
sb.Append("WACC is the average rate that a company expects to pay to finance its assets.").Append("\n");
|
||||
sb.Append("WACC is a common way to determine required rate of return (RRR) because it expresses, in a single number, the return that both bondholders and shareholders demand to provide the company with capital").Append("\n");
|
||||
sb.Append("WACC = rE * (E / V) + rD * (1 - Tc) * (D / V) .").Append("\n");
|
||||
sb.Append("Where rE = Cost of Equity, E = Total Equity, V = Total Capital Invested, rD = Cost of Debt, Tc = Tax Rate, D = Total Debt").Append("\n");
|
||||
sb.Append(Utility.FormatNumber(dcfValuation.CostOfEquity,2,true)).Append(" * " ).Append("(").Append(Utility.FormatNumber(dcfValuation.MarketValueOfEquity,2,true)).Append(" / ").Append(Utility.FormatNumber(dcfValuation.TotalCapitalInvested,2,true)).Append(")");
|
||||
sb.Append(" + ");
|
||||
sb.Append("(");
|
||||
sb.Append(Utility.FormatNumber(dcfValuation.CostOfDebt,2,true)).Append(" * ").Append("(").Append(Utility.FormatNumber(dcfValuation.MarketValueOfDebt,2,true)).Append(" / ").Append(Utility.FormatNumber(dcfValuation.TotalCapitalInvested,2,true)).Append(")");
|
||||
sb.Append(" * ").Append("(").Append(Utility.FormatNumber(1,2)).Append(" - ").Append(Utility.FormatNumber(dcfValuation.CorporateTaxRate,2)).Append(")");
|
||||
sb.Append(")");
|
||||
sb.Append("\n");
|
||||
return sb.ToString();
|
||||
}
|
||||
catch(Exception)
|
||||
{
|
||||
return Constants.NA;
|
||||
}
|
||||
}
|
||||
}
|
||||
public String TotalCapitalInvestedDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
sb.Append("Total Capital Invested : ");
|
||||
sb.Append("V = MV(D) + MV(E) Where MV(D) = Market value of debt, MV(E) = Market value of equity.").Append("\n");
|
||||
sb.Append("Market value of debt is sourced from Fundamentals").Append("\n");
|
||||
sb.Append("Market value of equity is sourced from Fundamentals").Append("\n");
|
||||
return sb.ToString();
|
||||
}
|
||||
}
|
||||
public String EstimatedStockPriceDescription
|
||||
{
|
||||
get
|
||||
{
|
||||
StringBuilder sb=new StringBuilder();
|
||||
sb.Append("Estimated Stock Price : This is the sum of the discounted cashflows minus debt; then divided by outstanding shares.").Append("\n");
|
||||
sb.Append("Estimated Stock Price = (Present Value - Debt) / Outstanding Shares.").Append("\n");
|
||||
sb.Append("(").Append(Utility.FormatNumber(dcfValuation.PresentValue,2,true)).Append(" - ").Append(Utility.FormatNumber(dcfValuation.TotalDebt,2,true)).Append(")").Append(" / ").Append(Utility.FormatNumber(dcfValuation.OutstandingShares,2,true)).Append("\n");
|
||||
sb.Append("Please refer to Debt and Oustanding Shares to see the source of those values").Append("\n");
|
||||
return sb.ToString();
|
||||
}
|
||||
}
|
||||
public String TotalLongAndShortTermDebtDescription
|
||||
{
|
||||
get{return "Total Long and Short Term Debt : This value if sourced from Fundamentals as TotalDebt";}
|
||||
}
|
||||
public String TotalEquityDescription
|
||||
{
|
||||
get{return "Total Equity : This value if sourced from Fundamentals as MarketCap";}
|
||||
}
|
||||
public String OutstandingSharesDescription
|
||||
{
|
||||
get{return "Outstanding Shares : This is sourced from Fundamentals as SharesOutstanding";}
|
||||
}
|
||||
public String MOSDescription
|
||||
{
|
||||
get{return "Est. Stock Price *.5";}
|
||||
}
|
||||
public String MOS80Description
|
||||
{
|
||||
get{return "Est. Stock Price *.8";}
|
||||
}
|
||||
public String SumOfDiscountedCashflowsDescription
|
||||
{
|
||||
get{return "Sum of discounted cashflows. This is also known as the PresentValue.";}
|
||||
}
|
||||
public String LatestPriceDescription
|
||||
{
|
||||
get{return "Latest closing price in database.";}
|
||||
}
|
||||
public String PriceDateDescription
|
||||
{
|
||||
get{return "Date of latest closing price in database.";}
|
||||
}
|
||||
public String IntrinsicValueDescription
|
||||
{
|
||||
get{return "Benjamin Graham : EPS*(8.5+(2*EPSGrowth))";}
|
||||
}
|
||||
public String IntrinsicValueRevisedDescription
|
||||
{
|
||||
get{return "Benjamin Graham : (EPS*(8.5+(2*EPSGrowth))+4.4) / Yield on 20-year AAA bonds.";}
|
||||
}
|
||||
public String RGVIntrinsicRevDescription
|
||||
{
|
||||
get{return "Intrinsic Value Rev./ Last closing price.";}
|
||||
}
|
||||
public String FreeCashflowGrowthDescription
|
||||
{
|
||||
get{return "Mean of freecashflow returns.";}
|
||||
}
|
||||
}
|
||||
}
|
||||
|
||||
Reference in New Issue
Block a user