Save More Time with Sentieo’s New Category Search

About Sentieo Document Search

Clients love Sentieo’s industry-leading Document Search for its depth, precision, and workflow integration. Users save hours with the ability to search across all companies, watchlists, individual entities, or by excluding tickers from searches.

Easy document specification with our IN: function covers the most common document types. (For example, search just 10-Ks or just transcripts). Our in-section search lets you search within a specific document section (in:10k MD&A or in:transcript), or by speaker (statements by CFO, by analysts, etc). You can also search PPT presentations, or get very granular document-level controls like “8-K Credit Agreements.” Filter down your search by industry classifications, geographies, market caps, and timeframes. 

Add another layer with our large library of Boolean operators, like “OR” for parallel searches and “BEFORE/NEAR/FAR” for proximity and order control. In the background, we have three levels of synonym control for the thousands of synonym/acronym groups. For example, sales and revenue will “pick up” each other, so you don’t need to know the exact term that the company uses in order to find what you’re looking for.

Machine learning-based Document Search will dynamically suggest synonyms based on your specific query, in addition to autofilling text in your query based on your document set. And if you do not have a query, Sentieo will suggest trending terms based on the searched ticker.

We have extensive Document Search statistics that let you see real trends, and you can drill down quickly with one or two clicks. Imagine seeing all companies that mention China within 25 words of Vietnam, clicking on Consumer Discretionary, and then seeing the top companies that mention your query most frequently. You can also do a “search within a search.” 

On the workflow side, you can save all positive hits as a watchlist for future work (for example, all Industrial companies with a market cap over $1 bn that mention Mexico in their 19-K Risk Factors). You can even automate your workflow with saved searches. All of our searches can be saved and turned into email and/or desktop alerts at the frequencies of your choice.

Highlight and label text as you read, and these annotations will be all stored and automatically ticker-tagged in your Notebook. You can even call out your team members with comments: “are you ready to take a look at this note on [x]?” Take screenshots from presentations and use the web clipper to bookmark webpages. All of your internal documents including uploads, emails, notes, and built-out theses are searchable, too. 

So What’s This New Category Search?

We’ve had in-table search functionality for years, enabling users to find numbers that are broken out in tables. For example, find mentions of EMEA Revenue only in tables, rather than everywhere in the doc. In our latest release, we’ve taken locating numbers to the next level. 

With the newly-released v3.9, users can search for specific types of numbers based on our very extensive categorization system. A Category is a set of keywords which are not synonyms but have similar meanings or constructs.

Category search allows you to search for an entire class using one search term. You can now look specifically for categorized numbers, such as currency, percentages, duration, length, area, temperature, volume, and a lot more. So now finding the “sales growth percentage” or “production volumes” takes a second. 

Moving forward, we will show a few examples of what is now possible in Sentieo’s Document Search.

In this query below, we are searching transcripts for revenue growth within 10 words of a percentage. You can also see how “revenue” picked up “sales” as a part of the synonym search. 

Swapping out the percentage from the query above with the currency categorization, we can look for currency amounts, like dollars or euros. 

Staying on top of KPIs is also easy with our new numbers categories. You can search for specific information like oil/gas production volumes or leasable area in real estate. 

You can search 8-K Credit Agreements for leverage ratios using the Ratio classification:

Need to call up a company? Search all filings (in:CF) for the headquarter phone number listed on the front page. 

The numbers we classified do not even need to be numeric. As a part of this update, we have fractions, time periods and more. 

These are just a few of our new Document Search use cases. Sentieo offers many more categories that help you find exactly what you need, faster.

To find out more about our new Category Search, or any part of Sentieo’s research workflow solution, please get in touch.

[Videos] How to Use Sentieo’s Table Explorer To Extract Data and Save Hours

In this “how to” post, we will review how to use our Table Explorer table chaining function in SEC documents, as well as the major updates we integrated with our recent v3.9 release. 

Broadly speaking, you can do a LOT with tables in Sentieo. 

  1. Export one or all document tables into Excel 
  2. Search only within table (s) using our popular “in:table” shortcut 
  3. See side-by-side historical tables (very useful for annual filings like proxy statements)
  4. Export PPT/PDF tables to Excel 

But none of these functionalities come close to what Table Explorer can do. Table Explorer uses a machine learning model to identify, chain, and visualize reported data. This is done in an auditable, transparent fashion, with added one-click flexibility for elements such as YoY and QoQ changes, common size statement conversion, and more. Analysts save countless hours with this ability to quickly chain tables, as well as visualize data and trends.

We will start with a simple example: the income statement. Table Explorer chains either 8-Ks, or 10-Qs/10-Ks. Since Q4s are not always reported, we create “synthetic” Q4 statements with one click. We use Adobe’s income statement as an example. Watch the video to find out more. 

In this second video, we cover the balance sheet. Similar to the income statement video above, we have an easy adjustment for Q4 balances. We go over the Netflix balance sheet, starting with their most recent filing. 

In this next video, we cover the cash flow statement. Cash flow statements are often presented in a cumulative fashion: 3-month in Q1, 6-month in Q2, 9-month in Q3, and 12-month in Q4. In this specific example, we use Mondelez International, the global snacking giant. We convert to quarterly with just one click. (We even came up with a new word for this function: “to quarterize”).

Table X does not stop here. You can export your chained data to Excel and to our data visualization tool, Plotter, for further work. You can save the data into your Sentieo Notebook to add to a full thesis.

The video below reviews these steps. We extract and chain Adobe’s income statement, convert it to “common size,” then visualize and export the percentage split of service vs. product revenues for the company. We then export to our main data visualization tool Plotter, where we overlay two of the thousands of data sets included in Sentieo, and finally, we save the chart in our Notebook for use in our full-blown thesis on the company.  

Table X works on other tables too. For example, you can extract your own KPIs or any other table-based data. While some KPIs might be available from the standardized data providers, not all are, and extracting your own means greater confidence in your data through our on-screen auditing function. In this fifth video, we show you how. We extract and chain Chipotle’s KPI tables, and we quickly visualize the trends in average unit volumes and comparable store sales. 

After Table X was released to rave reviews earlier this year, the number one request was handling line item renaming. With the latest product release, we created a Row Merge/Demerge capability to address this workflow. We show you how in this video. In the example here, Crocs, a footwear company with a wholesale and a retail business, reports a quarterly store count by geographic region. However, the company changed its line item name from “Europe” to “EMEA” recently, creating a discontinuity in this specific data set. We show how to merge the two rows and how to check that the mapping is correct. 

In the final, and most technical, video we show you how Table X handles a specific type of table called a “roll-forward” table. A standard use case for this is a company reporting a change in balance over the quarter, where we have the starting balance on top of the table, any changes below that, and then we have the ending balance at the bottom. In this specific example, we chain Chipotle’s unit openings/closings table from their 10-Qs and 10-Ks, and then make a few quick adjustments to add a Q4 column with the correct starting/ending balance, and intra-quarter additions. We also demonstrate the importance of visualizations. Unit openings are clustered in Q4, and this plays a role in forecasting the annual revenues due to the backend loading. 

To find out more about Sentieo’s Table Explorer, or any of the other features in our complete workflow research platform, please get in touch with us. 

 

[Guide] Don’t Miss Insights Next Earnings Season: 5 Ways to Optimize Your Time

Why We Wrote This Guide

With companies releasing a multitude of documents every hour of the day during earnings season, getting insights quickly can feel like an impossible task.

The hundreds of companies that analysts track each produce hundreds of data points, documents, and news — any of which could inform a change in corporate strategy or competitive response.

During earnings season, competitive intelligence professionals are often drowning in data, and can miss important insights as a result.

 

 

 

We came up with 5 ways that you (and your team) can optimize your time during earnings. Download the full whitepaper here.

You can easily gain a competitive edge by staying ahead of emerging global or industry trends, including:

• consumer/customer preferences
• trends that are favorable/unfavorable to you or your competitors
• new or disruptive ideas and products

Ask yourself and your team:

What are the macro, global market, and consumer trends happening right now that are impacting my business and my peers?

How To Do It

Alternative datasets can give you great insight into market trends. Try a tool that includes datasets like:

• Twitter mentions – Observe globally trending topics, your competitor’s brand mentions, and their number of followers. Are they spending advertising money on Twitter?

• Alexa website visits – Are your competitor’s website visits going up or down? How come?

• Google Trends – How are people searching for your competitors on the web?

Understanding macro trends can also help you focus your efforts during earnings season. A tool that allows you to plot both financial and document data can expedite this step in your workflow.

In the example below, we plotted document mentions of “wage inflation” (green bars) against EBIT Margins for Cheesecake Factory and Texas Roadhouse (purple & orange lines). We see that as wage inflation has risen, there has been a substantial decline in the margins for the two chains. With visualization tools, CI analysts are able to see the factors that drive trends, and stay ahead of competititors.

Key catalysts to track include earnings announcements, product launches, and transactions. Use a calendar tool that automatically feeds in from your company watchlists.

For example, below we used our watchlist “Big Tech” to auto-populate our Sentieo earnings calendar for easy tracking.

 

Want to learn the 3 other ways that you (and your team) can optimize your time during earnings? Download the full whitepaper here.

Facebook (FB) Transcript Smart Summary™ — Legal Discussions Get Longer and Instagram Innovates

In this final installment of our earnings season blog posts (informed by Sentieo’s transcript Smart Summary™), we’re covering Facebook (FB).

We kicked the week off by “getting to the meat” of Beyond Meat’s call on Monday night. While growth and margin expansion were strong, our keyword surfacing highlighted McDonald’s as a key topic.

We then looked at Tuesday’s transcript from Merck. While its VIP drug Keytruda is growing nicely, the Smart Summary™ highlighted pricing pressure concerns.

YUM! Brands, the parent of KFC, Pizza Hut and Taco Bell, reported on Wednesday morning. Smart Summary™ was useful to check on the many moving parts of this global, multi-brand QSR chain — from regional comp sales across brands to unit growth. Our sentiment scoring noted a particular analyst question about system-wide margin pressures. (Because it was deep in the transcript, a human reader could have missed this). Our blog posts above also feature short videos, with our Head of Research Nick Mazing reviewing how transcript push notifications work in Sentieo, and what he chooses to hone in on for each ticker.

For Facebook, since it is a well-covered company, we will focus on a smaller set of topics: 2020 guidance, regulatory discussions, and product innovation. 

On the guidance side, we see 2020 revenue growth deceleration, but this is widely expected, as Facebook is already large. We also see concrete expense numbers; there have been questions regarding Facebook’s investment in combating fake news and other undesirable content. 

There is a very lengthy regulatory discussion on this call. We see various entities/regulations mentioned on this call. Investors pay close attention to the regulatory environment. Heavy regulation tends to benefit the incumbent players, and Facebook is poised to lock out threats, similar to what happened in the US with the cigarette companies and the “Master Settlement Agreement.”

Contrast this Q3 2019 regulatory discussion versus Q3 2018. We can see below that the category in the Smart Summary™ was blank. 

We can also see the spike in Facebook’s 10-K/10-Q mentions of FTC. They went from single mentions to 27-30 more recently. 

We can also see the financial impacts. The FTC levied a fine in the billions of dollars, which we can see when we chain together the breakout table in the latest 10-Q with the same table in prior filings. 

The last highlight from this call is product, specifically Facebook’s innovation around Instagram. Our NLP-based keyword surfacing picked up the conversation there as the top keyword on that call. 

 

Check out our quick video walkthrough on Facebook.

Smart Summary™ is just a part of Sentieo’s research platform. To find out more about us, please get in touch

YUM! Brands’ Q3 Transcript Smart Summary™ — Extracting the Essentials From a Call With Many Moving Parts

This week, we continue to use Sentieo’s transcript Smart Summary™ to highlight selected reporting companies. We apply machine learning and natural language processing to create a more efficient and a more repeatable process. On Tuesday, we highlighted Beyond Meat (Nasdaq:BYND), and on Wednesday, we looked at Merck. (While Keytruda continues to power through, we picked up pricing pressure warnings for 2020.)

In today’s highlight, we are looking YUM! Brands (NYSE:YUM), the parent of global restaurant chains KFC, Taco Bell, and Pizza Hut. The company reports many metrics about its business: domestic (US) and international unit growth, comparable store (“like for like”) sales growth, and “systemwide” sales growth (reflective of the health of the franchisee system). 

Additionally, the company has a minority investment in order aggregator/delivery company Grubhub, which further complicates the financial reporting, as YUM reports mark-to-market adjustments on top of the operating earnings. 

In this post, we will share our highlights from the Smart Summary™ PDF that we received in our email inbox a few minutes after the original transcript came through. (The Sentieo platform is much larger and more interactive that what you see in this post, so we encourage you to check it out.)

With Smart Summary™, the transcripts are parsed by a ML tool which classifies and scores sentences based on broad classifications, such as Guidance or Legal. (See below). Smart Summary™ runs a layer of NLP processing on top of that, classifying sentiment (positive/negative/neutral), looking for “deflection” statements, and surfacing keywords. 

Looking at the YUM Q3 call Guidance section, we immediately spot the big delta between the GAAP and non-GAAP earnings. We also see the red (negative) outlook for Pizza Hut US, a unit that has been weak for a while. 

As we mentioned earlier, the transcript (as well as the press release) are very KPI-heavy. The convenient sentence extraction and classification helps you get the full picture faster.

We also note a number of negative sentiment questions from the analysts on the call, with the most “negative” analyst question being about system-wide margin pressures. 

The keyword surfacing logically picked up Same Store Sales, Net New Units, and System Sales.  We are highlighting just one of these here; unit growth keeps up, so the sentiment overlay is green. 

Watch our short video walk-through:

To find out more about the Smart Summary™ and all of Sentieo’s other AI-powered features, please get in touch

 

Merck Q3 Transcript Smart Summary™ – Keytruda Growth Continues, But Pricing Pressure Looms

As a part of our earnings season coverage, we’re continuing to use Sentieo’s transcript Smart Summary™ to highlight selected reporting companies. Smart Summary™ applies machine learning and natural language processing to create a more efficient and a more repeatable process for transcript analysis. Yesterday, we highlighted Beyond Meat (Nasdaq:BYND), where we definitely went beyond the meat of the matter and into the details.

In this piece, we will take a quick look at pharmaceutical giant Merck. We are using the newly-released email push notification functionality for the Smart Summary™ transcript, which provides users with both the summary and the full transcript in a single PDF. We’ll go through parts of the Smart Summary™ PDF for Merck, but you can view the full report here.

The key headline from the MRK release was that the company increased its 2019 non-GAAP EPS guidance. We can see this clearly in the Guidance section of the summary. 

In the KPI section, we see several interesting tidbits: tax rate, Animal Health division data, plus comments on Keytruda, an important drug. 


The pricing pressure comment that was ranked high in Guidance was also notably ranked high in the Products/Markets section as well.

On the Legal/Regulatory front, we see comments around drug approvals. 

In addition to the ML-based classification, we also apply NLP (Natural Language Processing) in three dimensions: sentiment (positive/negative), deflection (language associated with “deflection”), as well as keyword surfacing. 

In Merck’s transcript, we see a lot of highly-scored positive sentences (100 out of 100). 

On the negative side, we see the pricing pressures in 2020 comments (already picked up and classified by the ML layer) marked as mostly negative.

We can also see that pricing is the most negative analyst question as well!

The top keyword based on our algorithmic keyword surfacing is Keytruda, a relatively new but popular drug.

The second and third keywords are also product related. Below we see an active discussion around Gardasil capacity.

And the focus on Keytruda and Gardasil is justified. Using Sentieo’s Table Explorer table chaining tool on the 8-K filing, we can see that both drugs continue to grow, with Keytruda now approaching 30% of revenues. 

Watch the video below to see it in action:

View the full report on Merck here, and try using Smart Summary™ for yourself by signing up for access for Sentieo.

“Getting To The Meat” of the Beyond Meat (Nasdaq: BYND) Earnings Call

Beyond Meat (Nasdaq: BYND) reports triple-digit revenue growth,1600 bps margin improvement, ups FY guidance — all of which were picked up and highlighted by Sentieo’s ML/NLP-based transcript Smart Summary.™  

Sentieo’s transcript Smart Summary™ uses machine learning and natural language processing to help you go through transcripts faster, highlight important information you might have missed, objectively quantify sentiment and deflection statements, and surface keywords and keyword trends. All of this happens at the click of a button on our platform, and for clients with enabled alerts, also via email.  

You no longer have to read transcripts chronologically; you can sort the document based on classifications, as well as “x-ray” for trending (and disappearing!) keywords. 

Today we will highlight BYND’s results from Monday, October 28, 2019, as we saw them in our email alert with the PDF document. 

Using machine learning, we trained a tool to read and classify sentences in transcripts in several buckets, including Guidance, KPIs, and more. 

Right on top, we can see the robust guidance increase by the fast-growing meat alternative company. 

We can see the current quarter results’ highlights in the KPIs section:

The massive 1,600 bps gross margin expansion was picked up there, too. 

Our NLP processing picks up Deflection as well as Positive/Negative sentiment. We can see some softly optimistic language under Deflection. 

The Negative sentiment highlights include competitive pressure from incumbents as well as lower volume in newer points of distribution. 

One keyword that stood out is McDonald’s: a high profile restaurant partner that is running a very limited test only in Canada. We see the analyst being very inquisitive about it. 

To view the full Smart Summary PDF, search for the transcript in Sentieo and click on the Smart Summary icon. If you don’t have access to Sentieo yet, view the full summary here.

You can also check out the video below for a Sentieo walkthrough!

Stay tuned for our next earnings Smart Summary™ tomorrow!

Want to try Smart Summary™ for yourself? Get started with a free trial.

How to Plot Metrics Across An Entire Company Watchlist

With v3.9 of Sentieo, you can now run comparable analysis or obtain sector-level insights (e.g. Sector Gross Margins, a stock’s multiple relative to the sector) by entering a watchlist in any ticker input box in Plotter. 

Using Watchlists In Sentieo Plotter

You can now plot metrics across an entire watchlist, allowing you to (1) run comparable analysis across a peer group or (2) generate aggregate metrics for a sector. When you arrive at the ticker input box, simply start typing in the name of a watchlist to select it:

watchlist tokenization

Peer Group Comparisons

Use the watchlist function on Stock Price to find outperformers in a peer group:

 

Aggregate Metrics Across a Watchlist

Use the watchlist function on P/E and combine it with Weighted Line to generate a sector-level P/E:

 

The watchlist function is among the most powerful tools in Plotter. We also recommend trying out the following use cases:

  • Comparing recent changes in EPS Estimates
  • Generating sector KPI’s
  • Relative P/E vs. a peer group

 

Other Improvements We Made

 

Saved Series

We made it easier to tag series to tickers and topics, and have also made them easier to find. Try using this with Table Explorer or CSV Uploads to manage your own KPIs.

Correlations

We simplified the correlation section so that you can more easily determine what key factors are driving stock prices and valuations.

Templates

We simplified the templates section and added them to the “Add Series” search results to make them easier to use.

 

Join our upcoming webinar to learn more about our financial data updates in Sentieo v3.9!

Introducing Smart Summary™ Enhancements: PDF Report Email Alerts, Highlighting, and Sentiment/Deflection Charts

In our last release, we introduced Smart Summary™ — a whole new way to read transcripts. 

Our latest release builds on our transcript sentiment tool with Smart Summary™ enhancements to help you save time and get more insights, especially during earnings season.

 

 

 

Download a PDF Report 

To get a Smart Summary PDF report as you’re researching in Sentieo, click on the PDF icon in the top right-hand corner of the Smart Summary™ panel to immediately download a PDF of the report.

 

 

 

 

 

 

 

Check Out Your Report

Your PDF report will include language classifications like Guidance, KPIs, Deflection, and much more.

 

Get Smart Summary Reports Sent Straight to Your Inbox

Now you can automatically receive a Smart Summary™ PDF report in your email inbox when you schedule alerts for a single company or a group of companies in a saved watchlist. Don’t miss a beat during earnings season!

 

Sentiment & Deflection Charts

We also added two new, at-a-glance charts to the Smart Summary™ panel.

One visualizes the trends of Management Sentiment, Analyst Sentiment, and the “spread” between them. (See left screenshot below).

The second chart shows the company’s Deflection score going back 2 years. (See screenshot on right).

Use these visual cues to get quick insights into the companies that you cover.

 

Highlight and Tag Transcript Content

Now you can highlight and add tags to transcript content while in Smart Summary™. Highlighted text is automatically tagged to the company ticker for easy surfacing in the future.

You’ll never lose track of your highlights, annotations, and notes, which are all centralized in your Sentieo Notebook.

 

Video Walkthrough

Our Head of Research runs through how to get the most insights out of Smart Summary:

Start saving time and finding new insights today with a free trial of Sentieo!

Introducing Sentieo’s Enhanced Equity Data Terminal!

Save time, improve productivity, and enhance your confidence in modeling and investment decisions using the new and improved Equity Data Terminal in Sentieo. Access significantly more equity data (12x more data fields for a total of 1500 fields) and new financial models, including consensus and standardized models. Get improved auditability of model numbers and the ability to download all models (including As Reported) directly from Excel.

Access Private Company Data in the EDT

Data on 750,000 private companies is now available in Sentieo’s EDT, including basic profile information (date founded, location, activity sectors), funding rounds, investments, exits, acquisitions, and investors.

When available, data from the private company dataset on funding, investment, and M&A has also been added to public company profiles in the EDT.

 

Additional Fundamental Data and New Model Interface

We dramatically increased the data field count (12x!) in the EDT to 1500 fields total. (Source: Refinitiv Fundamental Data)

We updated the look and feel — and responsiveness — of our financial models.

 

New Financial Models Available

We expanded the number of financial models available for income statements, balance sheets, and cash flow statements.

  • Consensus Model: Based on Refinitiv I/B/E/S Estimates data, this model shows the actual adjusted figures for historical periods and current consensus for future periods.
  • Standardized Model: Based on Refinitiv Reuters Fundamentals data, this model takes the financials reported by the company and reclassifies all the items according to a standardized template.
  • As Reported Model: Based on Refinitiv Reuters Fundamentals data, this model is the closest to the financials reported in a company’s filings and press releases.
  • Updated Sentieo Model: This model has adjustments like the Consensus model, as well as justifications for the numbers.
  • Models for Banks: The EDT now also includes the As Reported and Standardized models from Refinitiv for banks.

 

KPIs Now Available In EDT

Public company financials now include KPIs pulled from filings; for example: gross leasing area for mall operators, per-passenger and per-distance metrics for airlines, retailer average sales per store, and restaurant comparable sales and unit openings. 


 

 

New Time Period Options 

Calendarized, Next 12 Months (NTM), and Last 12 Months (LTM) periods are now available for all of our models.

 

 

Formula Auditing and Data Sourcing

We have added new ways to audit formulas and to understand the underlying data sources.

Audit Pop-Up: Every number in our models and on the ratios page now includes a pop-up showing how the formula was calculated.

Historical Filing Comparison: Click on “Show Earlier Versions” to see a side-by-side comparison of a previous report for the period and the most recent update.

Filing Information: All Standardized and As Reported models include detailed filing information used to produce the number,

Consensus History (Consensus Model Only): Click on any number and a pop-up will show you the history of the estimate for that number.

 

New Excel Tools for Modeling

All numbers in our financial models are now available for export to Excel to support your own modeling activity— including the As Reported model! This includes the ability to bring the underlying formulas in the models into Excel.

Video Walkthrough of New Features

Our Head of Research walks through the enhanced EDT in this video: 

To learn more about the updated Sentieo EDT,  join our upcoming webinar covering everything about it!