Wondering if anyone's firms use more granular cash flows than annual in their commercial ARGUS dump excel models (I.e. is anyone exporting quarterly or even monthly data instead of annual to have a better understanding of timing of cash needs)?
Occurred to me that pretty much every model I've seen that uses ARGUS exports is annual only so wondering if anyone out there breaks that trend.
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Monthly is always the best option because you can very easily just sum up to annual cash flows. You’ll have the monthly detail just in case you ever need it.
This has always been my thought process but every model I’ve seen in my career is simply annual exports, which is why I’m wondering if it’s just chance that I haven’t seen monthly or quarterly, or if the majority of institutions just don’t feel it’s necessary since ARGUS is running it as monthly on the back end.
I’ve always used monthly. But my first company used annual for everything. We eventually switched to monthly. Really depends on the firm and it’s modeling policies.
At one of the NYC developers/REPE, we always dropped in monthly Argus extracts for topline down to NOI, then modeled down to equity cf in Excel.
Monthly makes the most sense. You get more accurate IRR calculation and if you’re on the development side, you’re most likely looking at monthly spend in your return calculations.
I am the opposite. Only ever see monthly cash flows exported from argus to excel. Need the monthly for accurate waterfalls and all our pro formas are set up monthly so would be pointless to do only annual.
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