BLOOMBERG IN

EXCEL FOR EQUITY

RESEARCH
A HOW-TO GUIDE
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RESEARCH PLAYERS
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BLOOMBERG IN EXCEL FOR EQUITY RESEARCH

This guide will show you through some of the most useful spreadsheets for research
purposes available from Bloomberg. All are available either on the XLTP function or via the
Template Library inside the Bloomberg Excel Add-in.

TABLE OF CONTENTS

PREMADE SOLUTIONS
 XCS4 – COMPANY SNAPSHOT
 XEEB – ESTIMATE ANALYSIS
 XCVA – COMPARABLE VALUATION TEMPLATE
 XPGR – HISTORICAL ESTIMATE ANALYSIS
 XERV – ESTIMATE REVISION ANALYSIS
 XEEV – ESG VALUATION TOOL

TUTORIALS
 XAPI – GENERAL API OVERVIEW

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XCS4 - COMPANY SNAPSHOT WITH TRANSPARENCY

An essential spreadsheet for a wide range of users. From research analyst to portfolio
managers and beyond, everyone has an interest in the basics of a company. This gives you
all of the fundamentals with transparency providing confidence in the data.

UNDERSTAND A COMPANY KEY FEATURES

This popular spreadsheet is designed to allow a simple  Overall view of any company
overview of a single stock. It provides the basic facts  Right-click to view to transparency on any
about the company you choose, information regarding fundamental point
the performance of the shares with an accompanying
 Arranged for easy printing
graph for a quick eyeball of the past year and fully
customisable financials.
WHAT TO BE AWARE OF
Many analysts spend a very long time producing  Change data by clicking the + icon in column G
company tearsheets. This document helps gives them and adjusting the various fields
inspiration for potential layouts, fields and more whilst  Enter the ticker WITHOUT the word „Equity‟ at
also saving them the hassle of recreating the wheel. the end, i.e. “VOD LN”
 Private companies are not supported as they
have no price series data

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XEEB – BLOOMBERG ESTIMATE ANALYSIS

Quickly retrieve estimates data for all the companies you care about from all the brokers
you have access to.

ANALYSE THE ESTIMATES KEY FEATURES

Once an analyst has understood how the company has  Quick, simple overview of estimate data
been performing in recent years, they need to consider  Multiple securities, fields, data sources and
where it is going to go in the future. Most analysts will periods
generate their own figures to project scenarios out but
they also need to know where the market stands as a  Custom ratios and data calendarisation
sanity check. This spreadsheet simplifies that process.
WHAT TO BE AWARE OF
Using XEEB, in a couple of clicks you can retrieve the  For the data to update, you need to click
street forecasts for multiple line items for multiple „Request Data‟ in the top left hand corner as the
securities. There is full customisation of period, including sheet is not built with formulas.
the option to calendarise data for comparison purposes.  To change securities, fields and more you have
You can even customise fields to generate your own to click the „Settings‟ button in the top left hand
ratios. corner. This will give you a tab view to customise
all details of the spreadsheet easily.

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XCVA – COMPARABLE VALUATION ANALYSIS

Understand a company’s relative worth compared to its peers quickly and easily.
Bloomberg suggests the best peers available based on a multi-faceted algorithm giving
further ideas to analysts.

WHERE DOES A COMPANY STAND KEY FEATURES

Understand the relative value of a company against its  Automatic download of comparable securities
peers based on a number of crucial metrics. Entering a  Multiple company tearsheets produced on the fly
single stock will automatically download all peers and all when you enter a base security
relevant valuation information. It is simple to scan across
 Manual customisation of peer set is possible just
and see historical and forward view for ratios such as
by entering in the required comps
EV/Sales, EV/EBITDA and PE.

WHAT TO BE AWARE OF
Each company within the peer set will also have a fully-
fledged tearsheet on separate tabs. Clicking into one will  The default peer set will be the Bloomberg peers
provide you with a view of historical performance, from the RV screen and may not necessarily
ownership and analyst rankings. reflect the customers required companies.
 This is a very large spreadsheet and may take
time to load the charts.
Another tedious task for analysts, producing a comp
sheet, can be reduced to mere customisation of this
existing template.

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XPGR – PEER ESTIMATE COMPARISONS

View the historical evolution of the street consensus for company forecasts and
understand the relative strength of peers over time.

SEE HOW ESTIMATES HAVE CHANGED KEY FEATURES

Trace graphically the change over time of the street  Full control over estimate measure and period
consensus estimates for a company of your choice and allows for full comparability across the time series.
its peers. This sheet offers access to all estimate data  Access to the underlying chart data by clicking into
sets available in Bloomberg ranging from basic the „Data‟ tab.
measures such as EPS to valuation ratios like
EV/EBITDA.  The peers downloaded are the top five Bloomberg
peers by market cap. To change the peers
To ensure a completely comparable analysis, you can
manually users can click into the „Data‟ tab and
choose from a range of periodicity types. Either analyse
adjust to required securities.
on a fiscal basis, calendar basis or, most effectively, a 12
month blended forward view.

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XERV – ANALYST AND RECOMMENDATION VIEW

Gain new insights into analyst opinions with side-by-side comparison of recommendations
and estimates, complete with click-through analysis on a security level.

ONE SHEET, MULTIPLE PERSPECTIVES KEY FEATURES

In order to fully understand the estimate data that
analysts produce, it is important to view it in the relevant
context. Using this template, analysts can quickly import
all the available estimates on a given security and
understand how they stack up against each other.
The highest and lowest estimates are highlighted to put
the data in perspective instantly, with charts showing
progression of broker data historically. You can similarly
discover the reliability of a given analyst by clicking into WHAT TO BE AWARE OF
their name and exploring their coverage universe.
 Instant company view of estimates with forward
looking and historical evolution of data.
 Links to individual analyst data, not just company
level data
 Ability to build multi-security reports on the fly for an
index, portfolio or other basket.
 Multi Security View is not enabled by default. Go to
„Settings‟ and set “Show Multisecurity Analysis” to
Yes to see the reporting capabilities

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XEEV – ESG VALUATION TOOL

Add a crucial, extra element to financial analysis but incorporating the quantified
environmental, social and governance impact to the bottom line.

INVESTING IN LONG-TERM PROSPECTS KEY FEATURES

Traditionally, analysts look at easily quantifiable metrics
when valuing companies. More companies are beginning
to provide data that shows the other dynamics they are
exposed to. These environmental, social and governance
factors need to be considered as they increasingly
highlight the long-term risks to the profit margins on the
books.
Bloomberg has now developed a solution that maps
these ESG factors to quantified amounts in order to WHAT TO BE AWARE OF
understand their direct impact on the bottom line, be it
positive or negative. This sheet is a great way to
introduce dynamic risk to analysts who often struggle to
integrate it into their models.
 View quantified impact of 14 different environmental,
social and governance factors on a given companies
bottom line.
 Customise estimates for individual line items and
pricing of impact.

Understand the future trend of company performance
from a more inclusive perspective.
 This model was designed in tandem with the ESG
research team at Unicredit so you can very easily
use that to gain credibility.

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XAPI – BLOOMBERG EXCEL ADD-IN TUTORIAL

Understand more about the possibilities available to you within the Bloomberg Excel Add-in
with this complete guide to all features and functions we provide.

DISCOVER MORE KEY FEATURES

Bloomberg continues to improve the Excel Add-in on a  Overview of all Bloomberg functions and formulae
monthly basis, adding features and functions as  Real-life examples of using data in models
requested to make it a more powerful tool. As it evolves,
you can ensure that you stay on top of these  Understand how to export to PowerPoint
enhancements by checking out our full tutorial in this file.  Introduction to the world of VBA
There are clear and thorough examples of how to use
each of the new features, from quick wizards to a
detailed look at each of the Bloomberg formulae. We
provide real life examples of retrieving and arranging
data into spreadsheets. There is a simple introduction to
the world of Bloomberg via VBA. We also even show you
how to export from Excel to PowerPoint.

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