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Computerized Investing > October 13, 2012

Stock Valuation and Analysis Spreadsheet

PRINT | | | | COMMENTS (11) | A A   Reset

by CI Staff developed a free and easy-to-use stock valuation and analysis spreadsheet, which takes a company’s financial statements and restates them in an easy-to-understand format. The spreadsheet requires Excel 2007 or better to work properly; however, there is also an OpenOffice version of the spreadsheet.

After downloading and opening the spreadsheet, there will be directions on how to analyze a new stock using the spreadsheet on the Scorecard tab. The first step is to manually download a public company’s income statement, balance sheet and cash flow statement from; users will need a free Morningstar account to access this information. The statements must be downloaded from because the spreadsheet relies on a consistent format.

After signing into, enter a public company’s ticker symbol in the Quote box at the top of the page. When the company’s information loads, select the Financials tab, which should default to the Income Statement sub-tab. Finally, export all three financial statements into an Excel spreadsheet and copy each one into its respective sheet on the stock valuation and analysis spreadsheet.

Uploading the three financial statements should be the only data entry required; the remaining sheets automatically populate based on the information from those statements. However, users can specify certain information. For instance, in the Intrinsic Value sheet, users can adjust the input values highlighted in green in order to reflect their investment horizon, the current stock price, etc.

On the Scorecard sheet, users can also add to or change the measures used in computing the overall score, depending on what information is important to them. Selecting a cell under the Measure heading allows users to choose specific measures from a list of options, such as the five-year average return on equity. Since adding or changing measures will also change the overall score, it is important to note that this score is a product of the factors an investor deems most important.

Although the spreadsheet is quite easy to use and informative, users must take precautions, such as by ensuring the data downloaded and computed is accurate. The spreadsheet may also generate errors, which could produce a statistically inaccurate valuation. Moreover, the spreadsheet simply utilizes the three historical financial statements, which ignores everything from footnotes on the financial statements to details provided by executives in their earnings calls. Therefore, we find that the program is most useful for breaking down information on the financial statements into an easy-to-analyze format, while also utilizing charts to illustrate what the financial statements are saying about the company. The spreadsheet is a decent starting point when analyzing a stock, but it should not be the only consideration.

System Requirements: Excel 2007 or better and a free Morningstar account

Size: 115 KB

Price: Free


William Dobbins, iii from FL posted about 1 year ago:

I am having issues with downloading this file. Anyone else having problems?

Martin Murphy from MA posted about 1 year ago:

Yes William, me too, it gives the following error message.
Missing file: C:\ stylesheets\bundles\core.css
Missing file: C:\files\fonts\fonts.css

I wonder if someone at aaii can cast some light on this?


-Martin Murphy

Richard Herzog from NY posted about 1 year ago:

I also can't download the file.

Kevin Grimes from TX posted about 1 year ago:

Ditto - also interesting that guidance was to use XL 2007 or later but this file is XL 2003. I'm not real techie. But looks like this may be the wrong file??

Thomas Booth from MI posted about 1 year ago:

I also just tried to download the file and received the same message that Martin received.

Robert Garcia from AZ posted about 1 year ago:

I was able to go to the website and download the Open Office Version of the file (link is under "Learn About Investing Here" on their main website). Seemed to open up OK but I haven't tried to use it.

John Caruso from GA posted about 1 year ago:

I downloaded the file but could not open because of the 2 errors seen previously in this thread.
Missing file: C:\ stylesheets\bundles\core.css
Missing file: C:\files\fonts\fonts.css

Mark Regazzi from MI posted about 1 year ago:

In my case--on a Mac--I get a file to download (if I just click the Download Now button) that gives me a file with a .xls.html ending and opens to a copy of an AAII page but wo. the graphics. When I try to download the file by right-clicking and Download linked files as . . . , I get the same experience the others have gotten.

Ronald Parker from NJ posted about 1 year ago:

I just tried and got a message suggesting that it has an incorrect ending. Does anyone know what is up or downloaded this recently?

Jonathan from IL posted about 1 year ago:

We apologize for the technical difficulties. The spreadsheet appears to be working now. Please let us know if you continue to experience the error.

E Drummond from VA posted about 1 year ago:

I haven't had any trouble downloading the spreadsheet but notice it only works with data up through 2010. Even though they have a link for a later version, it appears to be the same spreadsheet with info up through 2010 only. Seems they need to update the program.

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