The following additional information about data availability and calculation methodologies is provided for reference.
Beta Calculation Data Availability
CalculateBeta™ calculates betas for covered securities for dates after December 31, 1999. Coverage includes most companies traded on the NYSE (including the former AMEX companies), NASDAQ and OTCBB markets.
Risk-free Rate and Other Economic Data Availability
Risk-free rate (monthly), GDP growth and inflation data are available beginning in late 1953. When a too-early date is specified, the earliest available data will be provided. Daily risk-free rate data is available beginning in late 1993 for 20-year Treasuries, and in early 1962 for 10-year Treasuries.
You can request risk-free rate and other data as recently as yesterday. However, sometimes recent daily data lags by a day or two, and the most recent available monthly or quarterly data may lag longer. You can retrieve the most recent data available by backing up your request date a little.
For example, if on January 14th, 2017 you requested data as of that date, no GDP data would be returned, because fourth quarter 2016 data was not yet published. But if you backed up your "as of" date to December 31st of 2016, then September 30, 2016 data, the most recent available, would be returned. (A little later in 2017, of course, a January 14th, 2017 "as of" request would return fourth quarter 2016 data).
Daily risk-free rate data is not available for holidays, Saturdays or Sundays.
Market Equity Premium Data Availability
When you Calculate Equity Premiums, market equity premiums are calculable over any date range beginning in April 1954 and ending, approximately, yesterday. The beginning and end of the date range must be more than one year apart. Note that the variability of year-to-year equity risk premiums (ERPs) is high, and longer-running averages will, all else equal, usually be preferable. ERPs are computed using annual returns calculated based on the month-end preceding the ending date you provide, i.e., they are calculable based on any month-end, not just December-to-December.
Please see the additional detailed notes at Calculate Equity Risk Premiums for further information (available to registered users).
Fundamental Financial Data Availability, and Unlevered Betas
Fundamental financial data is available for most companies for as-of dates within the most recent five years preceding today's date. Unlevered betas are therefore available within this time frame as well.
CalculateBeta does not provide fundamental financial data, or attempt to unlever betas, for certain companies such as, for example, commercial banks, REITS, and other companies in the financial and real estate sectors, due to the particular characteristics of their balance sheets. CalculateBeta also does not provide fundamental financial data or attempt to unlever betas for certain other securities, such as American Depositary Receipts (ADRs).
Note that if you create a beta case where some companies lack fundamental financial data and others have it, only the available unlevered betas are used in calculating the peer group median unlevered beta and the CAPM cost of equity. When no companies included in a beta case include fundamental financial data, CalculateBeta will not display a Cost of Equity tab.
Some fundamental financial data is not included in downloadable spreadsheets due to licensing restrictions. We regret the inconvenience. Market multiples are downloadable.
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