Errors in you financial reports

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There are more problems with the financial statements. Today I  tried to do an analysis on B2Gold and it was coming out very odd and wrong. So I checked the statements on B2Gold's web site.  Their statements we different than what you have posted.  There were a few numbers that agreed but multiple data that was completely wrong.  I switched over to this site from Ycharts but if this is not fixed I may have to go back to them because theirs is right.  I don't want to have to verify every piece of data at the company's web site.  I like having the commentary, but correct data is more important to me than commentary.

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CT2511

i share the same disappointment with the inaccuracy of the data. E.g. BP earning per share and payout ratio do not make any sense. 

Misleading information is not acceptable. If you are not able to get the correct info I suggest to remove it from your site.

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anonymous
  • Under review

Hi barbglad,

Regarding B2Gold- can you point to a specific example? Are you expecting the data in CAD or USD? The data on our site is USD.

Thanks,

Daniel

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anonymous
Quote from CT2511

i share the same disappointment with the inaccuracy of the data. E.g. BP earning per share and payout ratio do not make any sense. 

Misleading information is not acceptable. If you are not able to get the correct info I suggest to remove it from your site.

This is the data you reference for BP:

We use the FWD dividend rate and the Non-GAAP FWD EPS (based on analyst estimates). 

There are many flavors of EPS (GAAP, Non-GAAP, diluted, non-diluted, TTM, FWD, etc...). What numbers do you expect to see here?

Thanks,

Daniel

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CT2511

the one that is used to calculate the paiout ratio. 

Please see the data in the BP ticker in the US market.

On a side note .. when the Canadian exchanges will be covered on SA? 

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anonymous
Quote from CT2511

the one that is used to calculate the paiout ratio. 

Please see the data in the BP ticker in the US market.

On a side note .. when the Canadian exchanges will be covered on SA? 

CT2511,

Payout ratio is not a standardized field. Some sources use GAAP EPS and others use Non-GAAP. Non-GAAP is much more reliable as it excludes one-off exceptions. Also, we use forward looking estimates as they more accurately predict the company's ability to meet their dividend obligations. Other sources such as Divdend.com are showing similar numbers as we are.

Canadian exchanges are on our roadmap, but no ETA yet. 

Thanks,

Daniel

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barbglad

I noticed this mostly in the income statement.  Both B2G and Seeking Alpha data are in USD.  Some examples would be in the 2018 income statement: 

                                      Seeking Alpha                        B2G

Cost of Revenues/sales 553,976,000                         860,405,000

Gross Profit                    671,085,000                        364,656,000

Operating Income           215,449,000                        219,514,000

Net Income                       28,938,000                          45,121,000   


As you can see some of these are way off. These are just examples.  I spent several hours straightening this out.   I don't know if a computer is pulling this data from the forms, but if so your programmer needs to take a look at this.


Barbara           

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anonymous
  • Not a bug
Quote from barbglad

I noticed this mostly in the income statement.  Both B2G and Seeking Alpha data are in USD.  Some examples would be in the 2018 income statement: 

                                      Seeking Alpha                        B2G

Cost of Revenues/sales 553,976,000                         860,405,000

Gross Profit                    671,085,000                        364,656,000

Operating Income           215,449,000                        219,514,000

Net Income                       28,938,000                          45,121,000   


As you can see some of these are way off. These are just examples.  I spent several hours straightening this out.   I don't know if a computer is pulling this data from the forms, but if so your programmer needs to take a look at this.


Barbara           

Hi Barbara,

The numbers are taken directly for our top-tier data provider S&P Capital IQ. 

The definition of line items is standardized across all companies. For example, BTG includes "Depreciation and depletion" under "Total cost of sales" but most companies exclude depreciation from COGS & Gross Profit:
https://www.investopedia.com/ask/answers/101314/does-gross-profit-include-depreciation-or-amortization.asp

S&P (along with Bloomberg, FactSet, etc...) does this in order to allow for accurate comparisons across companies. 

I hope this helps clear things up.

Thanks,

Daniel

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barbglad

Daniel,

   Okay, I see that.  Fair enough on this.  Thank you.

Barbara

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bulbolt
Quote from anonymous

Hi Barbara,

The numbers are taken directly for our top-tier data provider S&P Capital IQ. 

The definition of line items is standardized across all companies. For example, BTG includes "Depreciation and depletion" under "Total cost of sales" but most companies exclude depreciation from COGS & Gross Profit:
https://www.investopedia.com/ask/answers/101314/does-gross-profit-include-depreciation-or-amortization.asp

S&P (along with Bloomberg, FactSet, etc...) does this in order to allow for accurate comparisons across companies. 

I hope this helps clear things up.

Thanks,

Daniel

Hi Daniel,

I ran into similar issues for NEE. For example, in the Quarterly Cash Flow statement dated Sep 2019, the numbers under "Cash Flow from Operating Activities" don't add up. Comparing the table with their 10-Q, multiple items are missing, including "changes in operating assets and liabilities," "deferred income taxes," etc.

In the Annual Cash Flow statement, although some of these items are listed, they have not been updated for the period of 2014-2018.

Could you help take a look?

Cheers,

Dan

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anonymous
  • Under review
Quote from bulbolt

Hi Daniel,

I ran into similar issues for NEE. For example, in the Quarterly Cash Flow statement dated Sep 2019, the numbers under "Cash Flow from Operating Activities" don't add up. Comparing the table with their 10-Q, multiple items are missing, including "changes in operating assets and liabilities," "deferred income taxes," etc.

In the Annual Cash Flow statement, although some of these items are listed, they have not been updated for the period of 2014-2018.

Could you help take a look?

Cheers,

Dan

We are looking into this. 

Thanks,

Daniel Hochman

Director of Product, Seeking Alpha