Transcription

QuickStartYour guide to using FactSet

FactSet QuickStartThe following table lists commonly used reports in FactSet and their corresponding page numbers in this manual:If you’re looking for.Access this component by selecting the FactSet Insert menu:See page number:Navigating the FactSet Platform1-4Learning ToolsAdditional Displays Learning5Intraday News and QuotesQuotes/Prices Market Watch, Full QuoteNews & Research News, RSS Reader, Investment Research6-7, 9-11Historical Price, Volume, and Corporate ActionsQuotes/Prices Price Reports8Research Management ToolsResearch Management12-13Company FinancialsCompany Overviews, Estimates, Financial Statements, Financial Analysis, or FilingsMicrosoft Excel 2010 FactSet tab Filings drop-down menu Filings Wizard14-19, 21, 58Comparable CompaniesCompany Comparison20M&A and Deal ActivityCompany M&A22-23Takeover Defense Analysis (U.S. only)Company Corporate Governance24Company Debt and BondsFixed Income Fixed Income Explorer, DCS Overview25-26Company Investors and Ownership StatisticsCompany Ownership 2.027-28Earnings Call TranscriptsEvent Calendar29People DataPeople Snapshot30Portfolio AnalysisPortfolio Portfolio View, Portfolio Analysis, Portfolio Dashboard, SPAR31-35, 38Quantitative AnalysisQuantitative Alpha Testing, Axioma Portfolio Optimizer36-37Upload Proprietary Data and Manage PortfoliosUtilities Quick PortfolioPortfolio Utilities Portfolio List Manager39-40Markets and Economic ResearchMarkets Index Breakdown, Constituents, Country Synopsis, or Economic ReportsQuotes/Prices Full Quote41-44ScreeningScreening/Report Writing Universal Screening or Idea Screening 2.045-48ChartingCharting Chart, Interactive Charting41, 49-50, 62Web BrowserWeb Browser51Wireless AccessUtilities Wireless Configuration52-53Custom Models and PresentationsMicrosoft Office: Excel, PowerPoint, and ight 2012 FactSet Research Systems Inc. All rights reserved.

Task ListThis page lists common tasks and their corresponding page numbers in this manual.Research Associates and AnalystsInvestment BankersPerforming Company Analysis:Perform Company Analysis.8, 14-19Find Comparable Companies.20Find Standardized and As-Reported Filings.21Monitor Company Events and Set Up Alerts.29View Company Debt.25-26Research Company Boards.30Create Dynamic Charts.41, 49-50, 62Screen for Companies.45-48Research M&A.22-23Analyze Global Equity Ownership Data.27-28Access FactSet Wireless.52-53Performing Market Analysis:Track Real-Time News and Quotes.6-7, 9-10Analyze Markets from Macro View.41-44Create Watchlists and Coverage Lists.6, 20, 48Managing Proprietary Data:Create and Upload Portfolios.39Create Custom Composites.40, 45Creating Research, Ideas, Meetings, and Updating ClientsAccess Research Management Tools.12-13Find Institutional Investors and Contacts.30The Basics:Create Watchlists and Coverage Lists.6, 20, 48Track Real-Time News and Quotes.6-7, 9-10Perform Private and Public Company Analysis.14-16Research Company Boards.30Track Private and Public Company Deal Activity.22View Private Equity Transactions.17Access FactSet Wireless.52-53Preparing for a Pitch:Create a Public Information Book.15Screen for Past Precedents and Comparable Deals.23Research Takeover Defense Data (U.S. only).15, 24Create Dynamic Charts.41, 49-50, 62Create Dynamic Modules and Presentations.59-61, 63-64Preparing for the Road Show:Analyze Global Equity Ownership Data.27-28Portfolio Managers and Quantitative AnalystsManaging Data:Create and Upload Portfolios.39Create Custom Composites.40, 45Performing Analysis:Track a Portfolio’s Absolute or Relative Performance in Real Time.31Evaluate a Portfolio’s Fundamental Characteristics, Composition,and Sources of Relative Performance.32, 34Evaluate Fixed Income Portfolio Performance Attribution.33Perform Top-Level Portfolio Analysis Across Multiple Portfolios.35Perform Returns-Based Portfolio Analysis.38Simulate Trades and the Impact on Portfolio Performance andComposition.32Creating and Analyzing Models:Test and Confirm Investment Strategies.45-47Analyze the Relationship between Multiple Variables and InvestmentReturns over Time.36Construct Portfolios with Portfolio Optimizer.37MarketingPerform Top-Level Portfolio Analysis.35Analyze a Portfolio’s Style, Performance, and Risk.38Evaluate a Portfolio’s Performance.31-34Wealth ManagersTrack Real-Time Markets and Off Hour Prices.6-7Track and Filter Real-Time News.9-10Customize Views to Track Client Investments/Portfolio Views.31Perform Company Analysis.14-30Read Investment Research Reports.11Access FactSet [email protected](ii)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Accessing FactSet ContentThis table shows just a few of the ways you can view FactSet’s proprietary content using the reports discussed in this manual. Additionally, you can access FactSet content in applications,such as Universal Screening and Microsoft Excel templates. For a complete list of all FactSet’s content - including scope and coverage details - go to www.factset.com.If you’re looking for.Check out:What is it?Where?Annual and Interim FinancialFactSet FundamentalsCombines global coverage, deep company data, and unparalleled transparency for detailed historical financial statement content, per share data,14-17, 19Datacalculated ratios, pricing, and textual information to ensure a powerful data solution and access to industry-leading support staff dedicated to enhancing your workflow. Intraday updates deliver high-quality data faster than ever and source linking provides transparency back to the original filing.Daily, Global Consensus andFactSet EstimatesDetail EstimatesCombines a great breadth of data, such as daily, historical estimates on companies and sector-specific estimates. FactSet Estimates provides intraday14-15,revisions to ratings, target prices, and/or estimates, allowing you to monitor your portfolio performance intraday during earnings season, offers Click-17-18Thru for Actuals, Guidance, and Estimates, so you can drill down to analyst research reports, press releases, and much more.Valuation, Ratio, and Per ShareFactSet Market AggregatesValues on Aggregate LevelCombines information from FactSet’s Fundamentals, Estimates, and Prices databases to calculate valuation ratios, per share values, profitability18-19, 44,margins, and more on an aggregate level across a broad range of global indices or your own custom composites. The in-depth data lets you analyze50markets and portfolios with the same level of detail you use for security analysis and helps you assess market sentiment.Global Economic IntelligenceFactSet EconomicsProvides economic data, such as exchange rates, commodities, interest rates, benchmark data, and more to help you analyze complex relationships,41-43monitor developments, and transform your research into results. With the Standardized Economic database, you can make country comparisons bynormalizing currency, base years, report dates, and units, so you can integrate economic data into other FactSet reports and screens.Fund, Institution, and InsiderFactSet Global OwnershipCollects global equity ownership data for institutions, mutual fund portfolios, and insiders/stakeholders, allowing you to access market-leading FreeOwnership Dataand Mutual FundsFloat numbers, fully-reported data to clarify information dates and minimize double counting, a fund contributor program that provides monthly27-28holdings not available to the market, and much more.Conference Call Details andFactSet Events andProvides conference call transcripts for companies’ publicly held conference calls, plus a wealth of information regarding upcoming corporate events,TranscriptsTranscriptssuch as conference call dates and times, important company investor relations contact information, and much more.Information about PrivateFactSet Private CompanyProvides descriptive and financial information, such as business description, management and board details, operations information, and more -Companies16, 48targeting the companies most relevant to the banking industry.Company and Portfolio DataFactSet Private Equity andContains comprehensive information on global private equity firms and venture capital firms with details about a private equity or venture capitalManaged by PE and VCVenture Capitalfirm’s active as well as exited portfolio companies, including venture capital financing rounds, and more.Public and Private MergerFactSet MergersAnnouncements and Deal DataPublic Debt Issues29Provides detailed information on announced mergers, acquisitions, and divestitures involving both public and private companies worldwide and helps17, 4822-23you analyze merger agreements to find highly negotiated aspects of a merger, as well as precedent language and transactions.FactSet Fixed IncomeContains comprehensive current and historical pricing, ratings, and terms data for public debt issues for public and private companies. Data from25-26, 33providers like Mergent, TRACE, and Telekurs is organized to ensure proper linking to an issuer’s bond terms, ratings, prospectuses, debt schedules,capital structures, and more.Broker ResearchFactSet Research ConnectCollects reports and models from research providers globally, including not only the largest investment banks, but also the industry’s leading regional9-11and independent research providers, as well as rating agencies and market research firms.Corporate Governance orFactSet CorporateCovers takeover defense and shareholder rights, corporate activism, and proxy related issues. In addition, with FactSet Activism, you can monitorActivismGovernance;and analyze the latest activism data and activist profiles to help you gain insight into an investor’s history of activism by examining typical objectives,FactSet Activismtactics, and campaign outcomes.Corporate FilingsFactSet Global FilingsIntegrates global company filings from various sources, including EDGAR; SEDAR; debt, equity, and derivative prospectuses; annual reports; and data15, 2421, 58from all public domains, such as stock exchanges, corporate actions, and M&A documents.Profile [email protected] PeopleProvides personal and professional information for individuals associated with public and private companies.(iii)30Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Understanding Your WorkspaceA workspace is made up of several tabs and subtabs that provide access to FactSet displays, reports, and applications. When you first launch FactSet, you will see either your last saveddefault workspace or one of FactSet’s predefined workspaces. Workspaces are stored online and you can update and access them from multiple locations if you have FactSet installed ona work, home, and/or laptop computer. For a guided tour of the FactSet platform, launch the eLearning tour on Online Assistant page 16493.You can access additional tab optionsby going to the Tab drop-down menu.Enter an identifier in FactSearch to quicklysearch for and navigate to securities, reports,and applications within the new FactSet.Use these toolbar buttons to save your workspace,print, download, set application preferences, accesshelp for the new FactSet, and view your User Profile.To open a blank tab andadd new components toyour workspace, click thebutton next to the lasttab. You can add up tothree levels of tabs in eachworkspace.You can lock componentsin a certain position orpress ALT C to move thecomponent, view the titlebar, and access additionaloptions (shown here).Selections include: Open Tab - To open a tab saved inyour Personal, Client, Super Client, orFactSet directory. Export Tab - To create a copy of thecurrent tab and share it with otherindividuals at your firm. Rename Tab - To change the name ofthe current tab. Close Tab - To close the current taband remove it from your workspace. Print Tab - To print the current tab. Revert Tab - To revert to the lastsaved version of the current tab. Add Sub Tab - To create a new levelof tabs under your current tab. Display Outside FactSet - To displaythe selected tab in a new window. Active Displays - To see a list of opencomponents in the current [email protected] allows you to sendand receive identifiersfrom and to multiplecomponents throughoutyour workspace usingIdentifier Broadcastand channel options.See Online Assistantpage 15855 for moreinformation on IdentifierBroadcast options.Online Assistant Page ID15728(1)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Customizing Your WorkspaceIn addition to the workspace options shown on the previous page, you can customize your workspace to include additional displays, reports, and applications. You can then save yournew workspace and access additional workspace options using the new FactSet.Inserting Components in Your WorkspaceManaging Your WorkspaceClick the Plus button next to the tab where you want to create a new tab and insert anew component:To manage workspaces, go to the FactSet Insert menu Workspace and select: New Workspace - To create a new workspace. Open Workspace - To open an existing workspace file. You can also open a workspacethat you’ve launched recently by going to FactSet Insert menu Recent Workspaces. Save Workspace - To save revisions to the current workspace. Save Workspace As - To save a collection of tabs and subtabs as a single workspacefile using a new name. Append Workspace - To append an additional workspace to your current workspace. Import from PC - To import a previously saved workspace or worksheet that is notalready included in your list of workspaces (any files with extensions .MQS and .MQW). Manage - To manage your workspace (e.g., move, copy, delete) using File Manager. SeeOnline Assistant page 14277 for more information on File Manager.Launch a component by going to the FactSet Insert menu and selecting the desiredcomponent. If you’re using a predefined workspace, you can also click a shortcut icon inthe toolbar to launch the corresponding component.Follow the same steps to include additional components in your workspace. Onceyou’re done customizing your workspace, learn how to save it for future use in thenext section.Online Assistant Page IDWhere can I find this on FactSet?15852, 15851FactSet Insert menu [email protected](2)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Using Shortcuts and Function KeysThere are several predefined keyboard shortcuts available in the FactSet default workspaces. You can also customize the FactSet right-click menu, toolbar, and/or hot keys by assigningshortcuts to your favorite displays, reports, and applications using Shortcut Manager.Customizing Shortcuts and Hot KeysTo customize your shortcut toolbar and right-click options, click the Shortcut Manager buttonin the toolbar.2. Click the Add button to include the highlightedcomponent in the Selected Items list.1. Select the component(s) you want toassign a shortcut to from the AvailableItems list. The list follows the sameorder as the FactSet Insert menu so youcan easily find each item.3. Click the Properties button to assign afunction key and format the appearance of theshortcut in the toolbar.Deselect the "Enable alternate keyboardshortcut for Revert Tab ( in the U.S.)"check box to disable this option if itconflicts with other functionality (e.g.,FactSearch shortcuts). You can thenpress CTRL R to revert tabs.Tip: You can alsocategorize yourshortcuts so theyappear grouped inyour right-click menu.Using FactSet Keyboard Shortcuts: To save a workspace and document (i.e., settings), press CTRL S. To activate FactSearch or the Master Identifier box, press CTRL T. To select the next component in a tab, press CTRL TAB. To select the previous component in a tab, press CTRL SHIFT TAB. To navigate to the lowest tab layer, press ALT [1-9]. To toggle up/down through the tab layers, press CTRL Up Arrow or Down Arrow. To move the cursor left in a tab layer, press CTRL Left Arrow or Page Up. To move the cursor right in a tab layer, press CTRL Right Arrow or Page Down. To close the active component, press CTRL F4. To hide/show the identifier toolbar, press ALT A. To hide/show scroll bars, press ALT B. To hide/show a component’s title bar, press ALT C. To activate the FactSet Insert menu, press ALT F. To find text within a component, press CTRL F. To tile components horizontally within a tab, press CTRL SHIFT ALT H. To tile components vertically within a tab, press CTRL SHIFT ALT V. To activate channel audit, press ALT I. To display a component outside FactSet, press ALT O. To revert back to the last saved version of a tab, press CTRL R or the key.Online Assistant Page IDWhere can I find this on FactSet?15797Shortcut Manager [email protected](3)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Searching with FactSearchFactSearch allows you to quickly search for and navigate to securities, indices, people, and FactSet components/reports. For a guided tour on using FactSearch, launch the eLearning demoon Online Assistant page 16253.Enter keywords into the FactSearch box. As you type, theFactSearch drop-down menu will populate with resultsrelated to the search keywords.Expand the context-sensitive side menus to open acomponent with the selected entity’s information. Select"Broadcast ID" to send the entity to multiple components.The drop-down menu is separated into thefollowing sections: Entities - Includes security types such asequities, indices, people, mutual funds, andprivate companies Components - Includes all thecomponents found in the FactSet Insertmenu Series & Reports - Includes economiccharts and series that are available inEconomic Analysis Charting Search Online Assistant - Opens anOnline Assistant search page with a list ofhelp pages that include your keywordFactSearch Keyboard ShortcutsYou can quickly "jump" to a component, filing, orOnline Assistant page by entering shortcuts into theFactSearch box. See Online Assistant page 16706 formore information about FactSearch shortcuts. Component shortcut - identifi[email protected] (Examples: [email protected] - News for Citigroup; @PA - Blank Portfolio Analysis) Filings shortcut - identifi[email protected]filing (Example: [email protected] - Latest 10-K for Coca-Cola) Online Assistant shortcut - [email protected] (Example: [email protected] - "Using FactSearch Shortcuts" page in Online Assistant)Tip: Enter “@” and the component name in the FactSearchbox to access the component shortcode. The shortcode isalso found on the component’s title bar.Online Assistant Page [email protected](4)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Learning Tools in FactSetThe Learning tab provides a central location to access FactSet’s interactive eLearning demonstrations and tools, including the Financial Analysis Knowledge Base. The Knowledge Baseis a self-paced online training program and learning resource that concentrates on improving financial analysis and modeling in Excel. The Learning component also features severaleLearning demos that allow you to explore FactSet at your own pace.Click the ? button and select "eLearning" to launchcontext-sensitive demos for various displays, applications,and reports throughout your workspace (requires FactSet2010.1 and higher).Starting with the basics of Excel, accounting, and finance,and continuing on to advanced model-building, theFinancial Analysis Knowledge Base is an ideal continuingeducation program for corporate finance analysis.Navigate throughthe tabs to viewlessons, a glossary,a subject index, andmore. Self-pacedonline coursesinclude interactivescreenshots andvideo clips.Access eLearning demos covering various FactSetproducts and tools.View tips and trickson using FactSet’sProductivity Suiteto streamline yourdaily workflow.Subscribe to Notify’s "FactSet Learning Tools"category to stay informed on the latest updatesfor eLearning, Training and Online Assistant.Online Assistant Page IDWhere can I find this on FactSet?15722FactSet Insert menu Additional Displays Learning (@LRN)[email protected](5)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Monitoring Market DataMonitor market data for securities, such as companies, indices, treasuries, currencies, futures, and commodities in the Market Watch display. You can manually enter identifiers, open anexisting ticker list, or view Universal Screening results. For more information on managing identifiers in Market Watch, see Online Assistant page 15884.Click the drop-down arrow adjacent to the Lookup buttonand select "Open Screen Results" to access securities thatpass a screen saved in Universal Screening.Click the Lookup button toselect an identifier or typean identifier directly intothe desired location.Save your column layoutand access it from theLayout drop-down menu.Right-click an identifier andselect a report or marketdata display from thecustomized list to openand dynamically apply theidentifier.Right-click and select"Options" to customize yourcolumns using data fromyour FactSet subscription oryour proprietary data.Double-click the N icon toview news for the identifierin the News display.Double-click an identifier to apply theidentifier to all the company-specificdisplays in the tab.Select a row and enter G:group name to creategroup headings for your securities. You can alsoright-click and select "Add New Group."Market Watch Hot Keys:Tip: To create and manage real-time alerts that will notifyyou if certain criteria are met for a single or multipleidentifiers, use the Alert Manager utility (FactSearchshortcut: @AM). For more information about Alert Manager,see Online Assistant page 15873. To move around a Market Watch, press the Left and Right arrow keys. To copy an identifier(s), press CTRL C. To cut an identifier(s), press CTRL X. To paste an identifier(s), press CTRL V. To select multiple identifiers, press CTRL or SHIFT.Online Assistant Page IDWhere can I find this on FactSet?15883FactSet Insert menu Quotes/Prices Market Watch (@MW)[email protected] the INSERT key toinsert a row. Press theDELETE key to remove anidentifier, group, or row.(6)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Viewing a Full QuoteView a summary of a security’s trades, including bids and asks, along with fundamental data, such as EPS, P/E, and Price to Book Value in the customizable Full Quote display. You canalso view a ticker tape of the latest trade details and a candlestick chart of the intraday performance.Access key reports, such as Performance Quote or Ownership,via the drop-down menu on the Full Quote toolbar.Click the linked values to launchcomponents related to the value.For example, click the price valueto launch the Chart display orclick the FY1 EPS value to launchthe Estimate Tables report.Tip: You can customize the Full Quote display using datafrom your FactSet subscription or your firm’s proprietarydata and research. For more information on customizing aFull Quote, contact FactSet Consulting Services.By default, data is displayed inlocal currency. Right-click andselect "Currency" to change thedisplay currency.View a ticker tape and candlestick chart of theintraday performance. If you do not see theticker tape, right-click in the display and select"Show Ticker Tape."Subscribe to Notify’s "Real-Time Data and Displays"category to stay informed on the latest updates toFull Quote and other real-time displays.Online Assistant Page IDWhere can I find this on FactSet?15894FactSet Insert menu Quotes/Prices Full Quote (@FQ)[email protected](7)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Accessing Pricing DataThe Price History report displays historical data for a single or multiple securities. View pricing and analytics for multiple security types (e.g., equities, bonds, indices, options, mutualfunds, warrants, futures, FX-rates, and more). This version of the Price History report requires FactSet 2011.5 or higher.Enter an identifier or click theIdentifier Lookup button to searchfor a security. See Online Assistantpage 14587 for more informationabout Identifier Lookup.Select a predefined date rangeor click the Custom Date Rangebuttonto specify a date range.Use the crosshairs by moving yourcursor over an area in the chartto view the data charted on thatspecific day.View relevant header informationthat is sensitive to the security typeentered into the report.Select from a single or multiplesecurity report option using thedrop-down menu.Click the gray arrow between thesections to collapse or expand thechart area. Right-click on the grayarrow to change the report layoutfrom horizontal to vertical.View indexed data and a chart byselecting the Indexed option.Right-click a column header toselect the columns you want toview. Available columns vary foreach security type.Double-click a column header tosort the data in ascending orderor double-click again to sort indescending order.Tip: Zoom in on a section ofthe chart by left-clicking onyour mouse and highlightinga section of the chart.Subscribe to Notify’s "CompanyAnalytics" category to stay informedon the latest updates to securityanalysis reports on FactSet.Online Assistant Page IDWhere can I find this on FactSet?15274FactSet Insert menu Quotes/Prices Price Reports Price History (@PH)[email protected](8)Copyright 2012 FactSet Research Systems Inc. All rights reserved.

Viewing Real-Time NewsIn the News display, you can view real-time scrolling financial news headlines for the current day, a specific company, and a portfolio or watch list via a customized filter. For a guided tourshowing you how to text search and filter news, launch the eLearning series on Online Assistant page 16211.Enter an identifier to view allnews for a single company.Select the "Primary Identifier(s)"option to include only storiesabout the company in thesearch.Search for news by entering a keyword orcategory code, or by clicking the Category Lookupbutton to use predefined news searches bysubject, industry, language, country, and region.Click New Search to create a news searchwith your choice of data sources, categories orsubjects, universe of securities, and date range.Click Top to quicklysee the top news fromDow Jones News.Right-click and select"Options" to managedisplay and searchoptions, as well asdisplay columns.Double-click a headline to

Quantitative Analysis Quantitative Alpha Testing, Axioma Portfolio Optimizer 36-37 Upload Proprietary Data and Manage Portfolios Utilities Quick Portfolio Portfolio Utilities Portfolio List Manager 39-40 Markets and Economic Research Markets Index Breakdown, Constituents, Country