BLOOMBERG IN

EXCEL FOR EQUITY

RESEARCH

A HOW - TO GUIDE

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BLOOMBERG IN EXCEL FOR EQUITY RESEARCH This guide will show you through some of the most useful spreadsheets for research purposes available from

Bloomberg. All are available either on the XLTP function or via the Template Library inside the Bloomberg

Excel Add-in.

TABLE OF CONTENTS

PREMADE SOLUTIONS XCS4 – COMPANY SNAPSHOT XEEB – ESTIMATE ANALYSIS

XCVA – COMPARABLE VALUATION TEMPLATE XPGR – HISTORICAL ESTIMATE ANALYSIS

XERV – ESTIMATE REVISION ANALYSIS XEEV – ESG VALUATION TOOL

TUTORIALS XAPI – GENERAL API OVERVIEW

XCS4 - COMPANY SNAPSHOT WITH TRANSPARENCY

An essential spreadsheet for a wide range of users. From research analyst to portfolio managers and beyond,

everyone has an interest in the basics of a company. This gives you all of the fundamentals with transparency

providing confidence in the data.

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UNDERSTAND A COMPANY

This popular spreadsheet is designed to allow a simple

overview of a single stock. It provides the basic facts

about the company you choose, information regarding

the performance of the shares with an accompanying

graph for a quick eyeball of the past year and fully

customizable financials.

Many analysts spend a very long time producing

company tear sheets. This document helps gives them

inspiration for potential layouts, fields and more whilst

also saving them the hassle of recreating the wheel.

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KEY FEATURES

• Overall view of any company

• Right-click to view to transparency on any

fundamental point

• Arranged for easy printing

WHAT TO BE AWARE OF

• Change data by clicking the + icon in column G

and adjusting the various fields

• Enter the ticker WITHOUT the word „Equity‟ at

the end, i.e. “VOD LN”

• Private companies are not supported as they

have no price series data

ANALYSE THE ESTIMATES

Once an analyst has understood how the company has

been performing in recent years, they need to consider

where it is going to go in the future. Most analysts will

generate their own figures to project scenarios out but

they also need to know where the market stands as a

sanity check. This spreadsheet simplifies that process.

Using XEEB, in a couple of clicks you can retrieve the

street forecasts for multiple line items for multiple

securities. There is full customisation of period, including

the option to calendarise data for comparison purposes.

You can even customise fields to generate your own

ratios.

KEY FEATURES

• Quick, simple overview of estimate data

• Multiple securities, fields, data sources and

periods

XEEB – BLOOMBERG ESTIMATE ANALYSIS

Quickly retrieve estimates data for all the companies you care about from all the brokers you have access to.

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• Custom ratios and data calendarisation

WHAT TO BE AWARE OF

• For the data to update, you need to click

„Request Data‟ in the top left hand corner as the

sheet is not built with formulas.

• To change securities, fields and more you have

to click the „Settings‟ button in the top left hand

corner. This will give you a tab view to customise

all details of the spreadsheet easily.

WHERE DOES A COMPANY STAND

Understand the relative value of a company against its

peers based on a number of crucial metrics. Entering a

single stock will automatically download all peers and all

relevant valuation information. It is simple to scan across

and see historical and forward view for ratios such as

EV/Sales, EV/EBITDA and PE.

Each company within the peer set will also have a

fullyfledged tearsheet on separate tabs. Clicking into one

will provide you with a view of historical performance,

ownership and analyst rankings.

Another tedious task for analysts, producing a comp

sheet, can be reduced to mere customisation of this

existing template.

KEY FEATURES

• Automatic download of comparable securities

• Multiple company tear sheets produced on the fly

when you enter a base security

• Manual customization of peer set is possible just

by entering in the required comps

XCVA – COMPARABLE VALUATION ANALYSIS

Understand a company’s relative worth compared to its peers quickly and easily. Bloomberg suggests the best peers

available based on a multi-faceted algorithm giving further ideas to analysts.

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WHAT TO BE AWARE OF

• The default peer set will be the Bloomberg peers

from the RV screen and may not necessarily

reflect the customers required companies.

• This is a very large spreadsheet and may take

time to load the charts.

SEE HOW ESTIMATES HAVE CHANGED

Trace graphically the change over time of the street

consensus estimates for a company of your choice and

its peers. This sheet offers access to all estimate data

sets available in Bloomberg ranging from basic measures

such as EPS to valuation ratios like EV/EBITDA.

To ensure a completely comparable analysis, you can

choose from a range of periodicity types. Either analyze

on a fiscal basis, calendar basis or, most effectively, a 12

month blended forward view.

KEY FEATURES

• Full control over estimate measure and period

allows for full comparability across the time

series.

• Access to the underlying chart data by clicking

into the „Data‟ tab.

• The peers downloaded are the top five

Bloomberg peers by market cap. To change the

XPGR – PEER ESTIMATE COMPARISONS

View the historical evolution of the street consensus for company forecasts and understand the relative strength of

peers over time.

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peers manually users can click into the „Data‟

tab and adjust to required securities.

ONE SHEET, MULTIPLE PERSPECTIVES

In order to fully understand the estimate data that

analysts produce, it is important to view it in the relevant

context. Using this template, analysts can quickly import

all the available estimates on a given security and

understand how they stack up against each other.

The highest and lowest estimates are highlighted to put

the data in perspective instantly, with charts showing

progression of broker data historically. You can similarly

discover the reliability of a given analyst by clicking into

their name and exploring their coverage universe.

KEY FEATURES

• Instant company view of estimates with forward

looking and historical evolution of data.

• Links to individual analyst data, not just company

level data

• Ability to build multi-security reports on the fly for

an index, portfolio or other basket. WHAT TO BE

AWARE OF

Multi Security View is not enabled by default. Go

to „Settings‟ and set “Show Multisecurity

Analysis” to Yes to see the reporting capabilities

XEEV – ESG VALUATION TOOL

Add a crucial, extra element to financial analysis but incorporating the quantified environmental, social and

governance impact to the bottom line.

XERV – ANALYST AND RECOMMENDATION VIEW

Gain new insights into analyst opinions with side-by-side comparison of recommendations and estimates, complete

with click-through analysis on a security level.

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INVESTING IN LONG-TERM PROSPECTS Traditionally, analysts look at easily quantifiable metrics

when valuing companies. More companies are beginning

to provide data that shows the other dynamics they are

exposed to. These environmental, social and governance

factors need to be considered as they increasingly

highlight the long-term risks to the profit margins on the

books.

View quantified impact of 14 different environmental,

social and governance factors on a given companies

bottom line.

Customise estimates for individual line items and

pricing of impact.

Understand the future trend of company performance

from a more inclusive perspective.

Bloomberg has now developed a solution that maps

these ESG factors to quantified amounts in order to WHAT TO BE AWARE OF

understand their direct impact on the bottom line, be it This model was designed in tandem with the ESG

positive or negative. This sheet is a great way to research team at Unicredit so you can very easily

introduce dynamic risk to analysts who often struggle to use that to gain credibility. integrate it into their models.

XAPI – BLOOMBERG EXCEL ADD-IN TUTORIAL Understand more about the possibilities available to you within the Bloomberg Excel Add-in with this complete guide to all features and functions we provide.

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DISCOVER MORE

Bloomberg continues to improve the Excel Add-in on a

monthly basis, adding features and functions as

requested to make it a more powerful tool. As it evolves,

you can ensure that you stay on top of these

enhancements by checking out our full tutorial in this file.

There are clear and thorough examples of how to use

each of the new features, from quick wizards to a detailed

look at each of the Bloomberg formulae. We provide real

life examples of retrieving and arranging data into

spreadsheets. There is a simple introduction to the world

of Bloomberg via VBA. We also even show you how to

export from Excel to PowerPoint.

KEY FEATURES

• Overview of all Bloomberg functions and

formulae

• Real-life examples of using data in models

• Understand how to export to PowerPoint

• Introduction to the world of VBA