Morningstar fundamental data units
Author: gpwr9k95
Creation Date: 3/31/2018 3:19 AM
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gpwr9k95

#1
I noticed that MS gives "[ms] Total Assets" for all stocks as 100. So, I am assuming that it is in %. "[ms] Total Liabilities", "[ms] Long-Term Debt" and "[ms] Total Stockholders' Equity" also appear to be given in % relative to "[ms] Total Assets". I looked here and didn't find any mentioning of the units in which these fundamental parameters are given. Is there a document that describes in which units Morningstar reports these parameters? For instance, in which units "[ms] Free Cash Flow" is reported? I am trying to calculate CROIC, which is "free cash flow" / ("total equity" + "lt debt" + "st debt").
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Eugene

#2
QUOTE:
Is there a document that describes in which units Morningstar reports these parameters?

This would be too tedious to document but it's easy to check for yourself. Visit the Morningstar website, open a stock's fundamentals, and notice what unit each fundamental item uses. Sometimes it's millions/nillions, sometimes percents, or dollars / euro, or a number (double value).

QUOTE:
I noticed that MS gives "[ms] Total Assets" for all stocks as 100. So, I am assuming that it is in %.

It's a reasonable assumption. In the raw data it's 100.0 indeed:
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gpwr9k95

#3
Could you post a link where Total Assets reported as 100. I see values in dollars in this table http://financials.morningstar.com/balance-sheet/bs.html?t=AAPL&region=usa&culture=en-US

Is it possible to change the code of the MS extension so that it loads balance sheet values in dollars like other fundamental data providers (Fidelity, StockPup)? I am assuming this extension uses an API with many choices for downloadable parameters.
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Eugene

#4
QUOTE:
Could you post a link

You're looking in the wrong place. It comes from an ASCII (CSV) data file in "Key Ratio" which is "attached" to a stock's fundamental data page via the "Export" button. The provider emulates the web browser, captures the file and parses it. Scroll down to Key Ratios -> Financial Health to see Total Assets:

http://financials.morningstar.com/ratios/r.html?t=AAPL&region=usa&culture=en-US

QUOTE:
Is it possible to change the code of the MS extension so that it loads balance sheet values in dollars like other fundamental data providers (Fidelity, StockPup)?

No such need. It does load balance sheet values in dollars (or euros for EU stocks). Other items may be percents or numbers as I just said. Take a look at the Key Ratios and you'll quickly figure out what type of value is applicable to any of the 79 items.

April 2020: StockPup fundamental provider decommissioned, feed taken offline.
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