Robur Data Encoding: Compare, Analyse, Invest

Robur Data Encoding builds and maintains a database of company financials, for publicly-listed companies which are investable by private investors and family offices. We cover companies in:

The data we collect is supplemented by over 30 detailed indexes and valuation metrics, including typical ones such as the ratios of share price to earnings, free cash flow, and book value per share, and many others including our unique Robur Score, a filter of filters of interest to value investors. We cover eight years of financial information, where available.

We cover full-years and, where available, half-year reports, but not quarterlies, which are rarely reported in adequate detail outside the US.

Below is the data we collect for Full-year and Half-year Company Financials:


Revenue Recognised value of goods and services sold
Operating Income Typically ≡ EBIT; Robur uses operating income in formulas rather than EBITDA, because of the widely differing definitions applied to EBITDA as opposed to operating income
Net Income Exc. Extra Net income excluding extraordinary items
Net Income Inc. Extra Net income including extraordinary items
Earnings Per Share Exc. Extra Earnings per share excluding extraordinary items
Earnings Per Share Inc. Extra Earnings per share including extraordinary items
Dividend Dividends declared by the company for the period
Diluted Shares OS Diluted Shares Outstanding
Historic Yield Dividend for the period divided by share price at the end of the period
Share Price at EoP Share price at the accounting date for each period
Last Share Price Most recent share price - usually previous day's close

Cash Flow

Cash From Operations One of the key measures in value assessments
Depreciation Includes depreciation and amortisation
Capex Capital Expenditure
Cash From Investing Cash generated or spent relating to purchases and sales of physical assets such as land, property and equipment, intangible assets such as intellectual property, and financial securities
Issuance of Stock Cash provided by sale of new shares or expended by purchase of the company's own shares (share buybacks)
Issuance of Debt Cash provided by issuing new long-term debt, or expended by repayment of long-term debt. Includes lease obligations
Cash From Financing Total cash expended or provided by financing activities, including short-term debt and the payment of dividends
Start Cash Cash at start of period
End Cash Cash at end of period

Balance Sheet

Current Assets Short-term assets such as cash, cash equivalents, receivables, inventory. Rarely available for financial institutions
Goodwill Total premium paid in acquisitions over book value, as depreciated by the company
Intangible Assets Non-physical assets such as patents, various other forms of intellectual property, but excluding goodwill where goodwill is shown separately
Total Assets
Current Liabilities Rarely available for financial institutions
Long term debt includes long-term lease obligations
Total Liabilities
Shareholder Equity Total assets less total liabilities, excluding minority interests

CAGR (Compound Annual Growth Rates)

Compound annual growth rates are calculated on the last four years where available.

All compound annual growth rates are filtered in two ways:

  • Growth rates which would show very substantial variation from year to year ("wild swings") are not included.
  • Growth rates are "dampened" by a factor calculated from the annual variance.
Revenue CAGR Revenue growth
OP Inc CAGR Operating income
Net Inc Exc Ext CAGR Net income, excluding extraordinary items
EPS CAGR Earnings per share, excluding extraordinary items
Dividend CAGR The rate of growth in dividends per Share
CashOps CAGR Cash generated from operations
CapEx CAGR Capital expenditure
Equity CAGR Shareholders' equity


Indicators in the Signals table are derived from the results of the last full year.

Current Ratio Current assets / current liabilities
Buybacks % Percentage of cash outflows used in share buybacks
Solvency A ratio based on the Altmann Z concept for estimating the probability of insolvency. A number over 2 is considered relatively good; between 1 and 2 is a "warning"; under 1 is a signal to look very carefully at debt, debt servicing, operations cash, and similar numbers
Dividend Payout Ratio of dividend payments to earnings per share
Operating Margin Operating income as percentage of revenue
Net Inc. Margin Net income, excluding extraordinary items as percentage of revenue
ROE Return on equity = earnings per share, excluding extraordinary items * shares outstanding / shareholder equity
ROAE Return on assets employed = net income, excluding extraordinary items / total assets
ROTC Return on total capital employed = operating income / (total assets less current liabilities)
LT Debt: OP Income Ratio of long term debt to operating income; Robur's equivalent of the more variably calculated long term debt : EBITDA


Indicators in the Values table are derived from the results of the last full year and the CAGR numbers.

Price:Earnings Latest price available divided by earnings per share excluding extraordinary items
Price:Free Cashflow Recent share price * shares outstanding / cash from operations less the larger of capex and depreciation
Price:Book Recent share price / (shareholder equity / shares outstanding)
PEG Ratio Trailing PEG ratio = price/earnings ratio divided by the CAGR of earnings per share, excluding extraordinary items
Enterprise Ratio Complex calculation attempting to show the attraction of a company to takeover interest: how many years would it take to get your money back from cashflow, if you bought the company at today's share price? Below 5 - increasingly attractive for takeover in theory; Above 5: increasingly unattractive. Takes account of debt
Price in 52-WK Range If the low is 0 and the high is 100, where is the current share price? A percentage
Graham Multiplier Calculation originally devised by Benjamin Graham. 22.5 is considered the magic number: below that, value investors see increasing value; above that, value investors see decreasing value. Main basis: price/earnings ratio multiplied by price/book ratio
Robur Score Robur's own scoring ratio used by the Robur principals as their main guide to shortlisting investing opportunities. A percentage where the higher the score, the more intrinsically interesting - made up from 16 criteria. See below for details
Current Yield Latest year's full dividend divided by latest share price
MKTCAP USD BN Market capitalization, in billions of USD

Robur Score

This was designed as a shortlist aid. It works by taking sixteen criteria, evaluating them against specific criteria (e.g. "Revenue CAGR > 8%"), and giving them a score.

The sum of the scores is compared to the maximum possible score to give a percentage. It is designed for long-term investing strategies, and especially to shortlist stocks which an investor may have never heard of, to which the usual investment due diligence then has to be applied.

The current criteria, and their scores, are tabulated below:

Revenue CAGR >=8% 1
Operating Income CAGR >10% 1.5
Net income excluding extraordinaries CAGR >=10% 1
Earnings per share CAGR >6% 1
Dividend CAGR >5% 1
Cash from operations CAGR >10% 1.5
Capex CAGR >6% 1
Shareholder equity CAGR >5% 1
Buybacks as % cash outflow >=5% -1
Goodwill as % total assets >=30% -1
Robur M solvency ratio >2 1
Enterprise ratio >2 0
Equity per share : share price >=60% 1
Share price : 52 week range <=50% 1
Price:earnings ratio <12.5 1
Price:earnings ratio >18 -1
Dividend yield % >=2.5% 1

You can obtain this data, updated daily, by a subscription through Nasdaq Data Link ( Typical pricing is USD 1-3 K per year, but obviously this depends on what you need, and how you want to use the data. You can also arrange specialist data feeds directly with us.

Our company assessment service, which for regulatory reasons does not constitute investment advice, provides detailed assessments of individual company financials and, as we see them, the prospects for the company. It is used by managers of private portfolios and small family offices as an input to equity investment decision-making. For a sample report, or for any other enquiry about our data or our services, please email us: RoburIR Enquiries.

Reasons to use Robur data are:

We also carry out specialist data encoding of financial information for individual companies and family offices. If you have a requirement in this area, and think it could be smart to take advantage of our high-skill, low-cost data centre in the Philippines, we would welcome the chance to discuss your needs.

Robur Data Encoding Inc. is registered in the Philippines, and has its data centre in Manila. Once again, you can email us here: RoburIR Enquiries.