Sharadar Fundamental Data Issue

Technical Help
#1

The sharadar field PE1 does not equate to my own calculation of its components as specified in the usage guide.

PE1 = PRICE / EPSUSD
EPSUSD = EPS converted by FXUSD
EPS = NETINCCMN / SHARESWA

implies

PE1 = PRICE / (NETINCCMNUSD / SHARESWA)

(important to note that the only way PE1 could be negative is if NETINCCMNDUSD is negative??)

If you add the above data to a pipeline using sharadar.Fundamentals.slice("ARQ", 0).["FIELD"].latest and run the pipeline for the date 2023-04-12 you should see negative PE1s for AMZN, BRK.B, BP and GE. None of the stocks I have listed have negative NETINCCMNUSD. As a result, I can't make sense of the PE1 values.

AAPL is another interesting case. The NETINCCMNUSD is > 0 and the PE1 does not match my own calculation.

On 2023-04-12 with dimension "ARQ" the following fields were taken from my pipeline for AAPL
PRICE : 154.50
NETINCCMNUSD: 2.999800e+10
SHARESWA: 1.589272e+10
PE1: 26.098

154.50 / (2.999800e+10 / 1.589272e+10) != 26.098

Maybe there is a gap in my understanding of balance sheet math or how to properly work with sharadar data in a pipeline. Any help / explanation would be greatly appreciated.

#2

You'll see this discrepancy if you request ARQ (which reports net income etc for only the quarter) but not if you request ART (which reports net income etc for the trailing twelve months). It looks like Sharadar is calculating PE1 using trailing twelve month EPSUSD even if you request ARQ. I imagine the rationale is to smooth out seasonal variations and match industry reporting norms. As a Sharadar subscriber, you can reach out to [email protected] for questions about the data itself (as opposed to its usage in QuantRocket).

#3

Confirmed. Thanks.