Our redesigned homepage includes an introductory video, statistics on our companies under coverage, an activity feed for updated models, an earnings release calendar and a list of names you visited most recently for quick access.
At the top of our homepage (and every page) is our Global Search Bar and Menu Tab.
In the Search Bar, you can search for tickers, company names, industries, analysts or brokers.
By clicking on the Menu tab, you can navigate to pages that include all companies on the platform, broker-specific pages, Industry and Sector pages and our Model Library.
You can use the Feedback tool to send us any feedback or questions about the platform.
Click on the menu tab to start exploring the platform by Companies, Brokers, Sectors & Industries, or Models.
View a list of all companies accessible on the Visible Alpha platform. This includes companies with consensus views as well as companies that do not yet have consensus views, but have models available for download.
If you are interested in a specific broker, you can see each of the covering analysts, which models are available for download and which models are also presented in Company Template Views.
Sectors & Industries
This page shows the total number of companies under each GICS Industry and Sector with links to all covered companies.
The Model Library includes a listing of all the latest models that can be downloaded from the platform. To download older models, please go to the Analyst Published Models section on Company Home Pages. Note: the ability to download models is based on entitlements, as is access to all content on the site.
When you click on a specific company, you will be taken to that company's homepage. There are two views of this homepage: companies that have Company Template Views (consensus) and those that only have models available for download.
Each Company Homepage with consensus views will have a status bar at the top of the screen with sector and industry links. Below the banner, you can find a status bar with details such as the number of contributing brokers, the date of the last model received and the last filings date.
The page also includes three main content sections: Analyst Published Models, Line Item Monitor and Tearsheets. On the left you have the navigation bar, which you can use to access all the consensus views we have created for that particular company.
Analyst Published Models
In the Analyst Published Models section, we display the content received from each broker that is used in creating normalized views. The date the model was received, the analyst’s name, a link to a web view of the model and the working model are all displayed for each broker. On the right, you will see an Excel icon for each Analyst model that you are entitled to download.
For the model download feature, please note that, as with downloading a model from a broker’s website or requesting a model by email, brokers receive notification of model downloads on the platform.
On the left side of each entry is a rightward-pointing arrow that you can click to display previously received models.
If there is a green “i” icon to the right of the entry, that means the Analyst published an updated Research note without making edits to the model.
By clicking on the link for “Analyst Data,” you will be taken to a web view of the analyst’s model. Not every data point in each analyst’s model will be included in the consensus views, so the Analyst Data could include more granular data points.
In the left-hand navigation bar, you will find three main sections: Company Views, Additional Views and Analyst models. Under the company views, you will find the Company Template Views (consensus views) of the main financial statements for each company. These statements are based on the underlying analyst data and our research team and machine-learning systems build these views based on the most comparable data.
Each company will have a Key Values section in which segment data, operating metrics and key drivers are highlighted. Depending on each company, there will be additional charts of accounts based on the underlying analyst data.
Here you will find a web-based replica of the analyst models. You can quickly preview analyst estimates before deciding to download their models or view how these models flow into consensus.
The Visible Alpha Research team is working around the clock to build custom company templates for each company covered by our contributing analysts. For companies that do not yet have Company Template Views, you can still access our model repository to download the full working models we receive from the brokers, including previous versions that the brokers often don’t store themselves.
When you select one of the Financial Statements, you will be presented with a screen that resembles a workbook. Below the global search section and the company specific details, you will see content specific to that company.
Each of the Company Template Views has its own tab that runs along the top of the screen, enabling the user to toggle between these statements without reverting back to the company homepage.
The default display is for Fiscal Years based on the company’s reporting calendar. By clicking on the + button next to each Fiscal Year, the view will expand to show quarters. In the future, we will add an option to make quarters the default views.
The default view within each Financial Statement shows the normalized, consensus view for each line item. In order to see each analyst’s calls, you can click on the "+" button next to Consensus in order to expand the column to display each analyst’s calls.
The Financial Statements will be determined by the accounts provided by each analyst that were normalized into the Consensus view. To partially collapse the line items, click the "<<" button in the top right hand corner of the grid to expand.
If there were any adjustments that were made to an analyst’s call in constructing these normalized views, there will be a clickable yellow triangle in the top right corner of the cell with the account name, or the specific cell within the chart of accounts.
For any line item that appears in other Financial Statements, there will be a shared data icon next to the account name. By clicking on that link, a pop-up appears with links to that line item in other Financial Statements to show the user how the data is connected.
In the top center of the screen is a Formula Bar labeled as “fx”. For any cell that is selected, the formula bar will show how that number was derived: mapped directly from the Analyst Published Views, calculated from data within the Analyst Published Views or an average across analysts to calculate Consensus.
For each data point, there is an arrow that can be selected to show the audit trail of where that figure was derived from. If there is a calculation, the data points in the calculation are shown and can have additional arrows to further explore the data sources. The model name and analyst will always be listed and when the source data is highlighted, the specific cell that data was sourced from is cited, as well as a link to download the original working model.
If a Consensus cell is selected, there will be additional Analytics displayed in a gray box at the bottom of the drop down box.
In the left navigation bar, there is a line item search that enables a keyword search to return every statement that line item appears in. For example, “unit sales” might be seen in several of the Company Template Views, Additional Views and Analyst Views, but a specific driver or geographic segments may only exist in one.
This search option makes it easy to find the data of most interest to you, as well as where that data is displayed throughout the various statements for each company.
Below the line item search on the left side of the screen are links to each statement for the underlying company: each of the Company Template Views, Analyst Views and Additional Views. The company views are also available in tabular format above the grid.
This allows easy navigation across statements, rather than reloading the company homepage.
There are several options to dig more deeply into the data through the options tab: Visualizations, Analytics, Sources, Periods, Revisions, Missing Data, Accounting Basis, Legend and Display Settings.
The Visualizations tab allows you to “paint the screen” with conditional formatting across a few different options: Variation, Revisions, Surprise and High / Low. All of them are designed to add visualizations on top of the numbers displayed in the sheets so you can quickly see trends and differences of opinion. Choose the option and click “Apply” on the top right.
When the Variation tab is applied, each cell will reflect the analyst’s call with respect to consensus. Calls above consensus are blue and calls below consensus are red, with the darkness of the color reflecting the degree of difference. That color can be emphasized or deemphasized with the sensitivity bar below the Variation button.
Similarly, the High / Low tab will highlight the analysts with the high and low calls for a given line item.
The Revisions tab will format each consensus and analyst entry and highlight them in red if they have been revised downward or blue if they have been revised upward. The point of comparison is selected by the radio buttons underneath the Revisions tab itself.
And the Surprise tab will highlight the difference between the filings data and the analyst’s filing from immediately before the filing, with red meaning their call was below the actual reported figure and blue meaning it was above the actual filing.
The Analytics tab lets you quickly analyze trends for the line items you see in the grid. You can choose to see the year over year growth rate for iPhone estimates or the sequential growth for T-Mobile’s subscribers through this tool. The “Compare to” tool lets you compare values to a baseline year.
The Sources tab includes all data that is shown in each Financial Statement. The default includes the consensus view, which can be expanded to show each broker that is included in the consensus.
This can be modified in several ways. First, if the user wants to create a Custom Consensus of a subset of brokers, selecting the Custom Consensus radio button highlights an edit button. The user can then select which sources should be included in the Custom Consensus in the pop-up window that appears.
The user can then select Save, which will create a Custom Consensus view but still display all brokers who are in consensus, or Save and Select Sources, which will create a Custom Consensus View and only display the sources in that Custom Consensus. Then the user must click Apply on the top right.
After this change, the user can expand the consensus column and see a new “Custom” column based on the Custom Consensus. Any source included in the Custom Consensus is tagged with a blue “cc” label to the left of the broker name.
Even without a Custom Consensus selected, the user can choose to deselect brokers that will be displayed by clicking on the check box next to the broker name under the “Show Brokers” section, then press apply.
Further, if an analyst has not updated their model, it will not be included in Consensus. To view the previously submitted data, the user can select “Show Excluded”, which will display those outdated analyst models.
You can also control the sort order of brokers in the data grid. By default, brokers are sorted alphabetically. To sort by model date (ascending or descending dates) click on the date column. To return to an alphabetical sort order, click on the Broker column.
The user can also toggle on and off the filings data that is pulled into the platform directly from the SEC’s website.
Last, the default view is for Consensus to be the “focus”, or the data displayed when each column is minimized. If the user wishes to change the focus so a Custom Consensus or individual broker is displayed on top, that can be changed with the “Set Focus” option at the bottom of the Sources tab, then set by clicking Apply.
The default in the Financial Statements includes the full time periods available: as much history as is included in each model and as far into the future as analysts project.
The user can limit this display by selecting a single Fiscal Year to display, or select the specific years desired to be shown.
This tab allows the user to display data from analysts’ previously delivered models. The user can select five dates for comparisons with the current data. The user can also choose the PreQ option to get the values from a day before the company reported earnings.
The user can then select to display this data either in a row or column view. Once the user clicks “Apply”, a new row or column labeled “Current” will appear. That can be expanded to show data from the previously selected time elements. This will allow the user to compare the current data with data from those time periods in order to better understand how the model has changed over that time.
Inferred data is displayed when not provided directly by the brokers, but estimated based on other data provided, i.e. a key segment extrapolated from a broader total. This can be toggled off and on.
In this tab, you can toggle between various accounting bases provided by the underlying analyst data: GAAP, Operating or All.
The Legend shows the colors of cells associated with calculated or inferred data.
The Display tab toggles between maximized and minimized line item displays in the Financial Statements.
Within each financial statement, you will see an option for an Excel Export. When selected, you will have the option to select the parameters of your export: consensus only or specific analysts, periods, revisions and format. With more options selected, the time the export will take increases and the window includes an estimate of the export time.
The line item monitor is a one-stop dashboard for some of the best features in Visible Alpha. Not only do you get immediate access to the line items you care about for a company, you can also observe recent trends, distribution of estimates and revisions over time for the same.
There are two versions of the monitor. The company home page has an abridged version while the main line item monitor has additional data points and customization tools. The link to the main line item monitor can be found in both the left navigation bar and in the company home page. While the default view is the Key Values page for that company, you can use the add line item box to add lines from any of the company views. You can also use the drag and drop functionality to rearrange the list.
Users have the option to set up their alerts in two ways. They can set up alerts through the Alerts button in the blue ribbon in any company view, or through the alerts dashboard.
There are multiple alert options available. Get alerted whenever a revision in consensus takes place, a new filing is added, a specific broker adds a new model, or a new consensus view is created for the company. You can get alerted on a real time, daily or weekly basis.
Visible Alpha offers you the option to download the latest sell-side estimates in an Excel friendly format. There are two options available: Earnings preview and Earnings reviews. Use the earnings preview to check where the sell-side stands right before a company report, and use the earnings review to not only do a quick surprise analysis but also check how analysts have changed their estimates after the company has reported.