Friday, March 22, 2019
Our New Master Class Video

Thursday, March 21, 2019
Tech Data’s Goodwill Adjustment

Tuesday, March 19, 2019
There’s Taxes, and There’s Taxes

Saturday, March 16, 2019
Adventures in Tax Cuts and Net Income

Monday, March 11, 2019
Big Moves in Goodwill, Intangible Value

Friday, March 8, 2019
CVS, Goodwill, and Enterprise Value

Thursday, February 28, 2019
Summary of Our Goodwill Research/ How-To

Wednesday, February 27, 2019
What Does ‘Other’ Mean? An Example

Thursday, February 21, 2019
Another Tale, Buried in the Footnotes

Wednesday, February 13, 2019
Low Latency Calcbench

Monday, February 11, 2019
Now Streaming on Hulu: Red Ink

Thursday, February 7, 2019
Early Look at 2018 Tax Decline

Wednesday, February 6, 2019
You Revised WHAT, Netflix?

Thursday, January 31, 2019
Talking About Huawei Exposure

Wednesday, January 30, 2019
Another Discrepancy in Reported Numbers

Wednesday, January 30, 2019
Finding Revised Facts: Hertz Edition

Wednesday, January 23, 2019
GE Commercial Aviation Services: Bringing Numbers to Light

Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

Archive  |  Search:
Portfolio Income Statement
Monday, August 28, 2017

If your portfolio filed a 10-K what would the income statement look like? Using Calcbench standardized data we built a spreadsheet that computes a standardized income statement based on the holdings of your portfolio. For comparison we also compute the standardized income statement for the S&P500 tracker, SPY, showing what your income statement will look like if you throw in the towel and go passive.

As an example let’s compare a $10K portfolio invested equally in the FANGs (Facebook, Amazon, Netflix, and Google), $2,500 in each.

Our FANG portfolio’s standardized income statement is below-

MetricPortfolio Sum

Our ten thousand dollars invested in the FANGs buys us ~$2,000 of revenues and ~$200 of earnings.

Alternatively ten thousand dollars invested in the S&P500 index fund has an income statement that looks like the below. The S&P 500 is a market cap weighted index and we use the same weighting. Each of the line items in the aggregate income statement is the sum of the filer’s reported value times their weight in the index times the percentage of the company owned by the fund times the percentage of the fund represented by of $10k.

MetricIndex Sum

$10K in the S&P500 buys you ~$4,600 in revenue and ~$400 of earnings. Note that buying the index gets you about two times the revenue and earnings of the FANG portfolio.

In addition to face financials Calcbench has an unrivaled set of standardized metrics from the footnotes to the financials. We did the same analysis that we did with the income statement line-items a couple of points from the 10-K footnotes.

MetricFANG SumIndex Sum
The spreadsheet used in this blog is @ Calcbench Portfolio Income Statement.xlsx To plug in your portfolio sign-up for Calcbench trial @ and download the Calcbench Excel Add-in

FREE Calcbench Premium
Two Week Trial

Research Financial & Accounting Data Like Never Before. More features and try our Excel add-in. Sign up now to try the Premium Suite.