Alternatives to Bloomberg for broke prospects

I found several free websites to look up a company's financials:
Koyfin
RocketFinancial
Finbox
Stockrow

They sometimes give very different numbers for metrics such as EBITDA, so I'm a bit hesitant as to which one to use. Finbox says its data comes from S&P Global Market Intelligence, whereas the others do not indicate a source.

Do you have any experience with these websites? If you know any other free source, please post it.

Thank you!

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Comments (10)

Most Helpful
Jul 13, 2020 - 11:12pm

EBITDA - How to Find - via Public docs / Google Search common doc names

You're in luck - I'm in the middle of creating an online course in Leveraged Finance / Loan Capital Markets, and just drafted a Capital Structure exercise for 9-10 examples
thus I'm very organized w/ my public sources / hyperlinks

EBITDA - How to find - Public docs / Google Search

1) EDGAR Search -
-10K / 10Q (Financials)
-Credit Agreement
-Investor Presentations (sometimes)

https://www.sec.gov/edgar/searchedgar/companysearch.html) OR

2) Company Website-->Investor Relations-->SEC Filings (a cleaner PDF IMO)
-10K / 10Q (Financials)
-Credit Agreement
-Investor Presentations (sometimes)

3) Google Search - common doc names - EBITDA is found in - especially press releases

Company X +...
-Reports Fourth Quarter Results
-Non-GAAP Reconciliation
(More below)

4) S&P and Moody's - Rating Action reports
-create free login to access

EBITDA - ways to pull publicly / quick & dirty estimate
1) 10-K / 10-Qs - estimate
- Operating Income + D&A = EBIT + DA = EBITDA (Income Statement +
Statement of Cash Flows) (Amazon)

EDGAR - Company Search-->Amazon-->Filing Type--> 10-K--Search
1) https://www.sec.gov/edgar/searchedgar/companysearch.html
2) https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=00010187…
to https://www.sec.gov/ix?doc=/Archives/edgar/data/1018724/000101872420000…

2) 10-K / 10Qs - EBITDA disclosed Disclosed (RBI)
3) Investor Presentation 4Q19 /- Sources & Uses and Pro Forma Cap Table
4) Lender Presentation - Public - Sources & Uses and Pro Forma Cap Table

EDGAR
https://www.sec.gov/edgar/searchedgar/companysearch.html
Post Holdings / 10K https://www.sec.gov/Archives/edgar/data/1530950/000153095017000231/0001…
10K

Amazon
https://www.sec.gov/Archives/edgar/data/1018724/000101872420000004/0001…

Investor Relations
https://ir.aboutamazon.com/sec-filings/default.aspx
https://www.postholdings.com/investor-relations/sec-filings/

Investor Presentation / EBITDA - Hyperlinks

FIS Global
https://www.investor.fisglobal.com/sites/g/files/knoqqb28461/themes/sit…

Post Holdings
https://www.postholdings.com/2019/11/21/post-holdings-reports-results-f…

SeaWorld
https://s1.q4cdn.com/392447382/files/doc_financials/2019/q4/SeaWorld-En…

5) Press Release - 4Q19 Results - non-GAAP financial results supplement
6) Credit Agreement - Definitions - EBITDA - sometimes disclosed
https://www.sec.gov/Archives/edgar/data/1528930/000117184320001015/exh_…

Notwithstanding anything to the contrary, it is agreed, that for any period that includes the fiscal quarter ended on September 30, 2019, Consolidated EBITDA shall be deemed to be $21,149,000, as adjusted on a pro forma basis. For the purposes of calculating Consolidated EBITDA for any period, if at any time during such period (and after the Closing Date), any Loan Party shall have consummated (
(a) an acquisition permitted hereunder or
(b) a material disposition

7) S&P / Moody's Ratings Reports
a) Sometimes disclosed - Incremental Facility terms. "$210 or 100% EBITDA" = $210

Moody's - Rating Action
"In addition, the first lien credit facility contains incremental facility capacity up to the greater of $210 million or 100% consolidated EBITDA, plus an additional amount subject to either a 5.5x pro forma First Lien Net Leverage Ratio, 7.2x Secured Net Leverage Ratio", or 7.45x Total Net Leverage."

b) Implicitly - through (EBITDA Margin % x Revenue) = EBITDA
c) Implicitly - through leverage multiple (total debt / leverage multiple) = EBITDA

EBITDA - CTRL-F / Google Search
for example some of the names of the docs are
1) Reconciliation of Non-GAAP Measurements - Unaudited
2) Company X Reports Fourth Quarter and Fiscal 2019 Results
3) Combined Company Non-GAAP Pro Forma Adjusted EBITDA Reconciliation
4) 10K-->Segment--> Adjusted EBITDA
5) Lender Presentation / Investor Presentation ->Slide will be called "Pro Forma Sources, Uses & Capitalization" or "Sources & Uses and Pro Forma Capitalization"

Quick & Dirty Estimate
EBITDA = Operating Income + D&A
(Good proxy/estimate - Op Inc + D&A = 87% and 94% of EBITDA examples below)

Combined Company Non-GAAP Pro Forma Adjusted EBITDA Reconciliation
Operating Income $1,100
+D&A 959
+ Other non-cash, net 42
+ Business optimization costs 77

= Operating EBITDA $2,178 (Op Income + D&A = 94% of $2,178)
+ Acquisitions and Disposals 15
+ Unrealized cost savings 168

= Adjusted EBITDA $2,361 (Op Income + D&A = 87% of $2,361)

-so I think Operating Income +D&A is a decent quick and dirty estimate for EBITDA, if you arent going to be penalized for 100% accuracy

S&P and Moody's - create free login
- create a login for free access to Rating Actions
-which give a lot of info mentioned in my explanation above, including EBITDA estimate, especially for private companies.

Tricks to find EBITDA via EDGAR search (full text option)
1) sec.gov - EDGAR Search
https://www.sec.gov/edgar/search/?r=el#)-->
2) +more search options - Click this-->
3) Document word or phrase:
type "lender presentation term loan b" or "lender presentation sources uses" or "lender presentation"

3B) Company name:
(Leave blank)
3C) Filing category:
All annual, quarterly, and current reports (so pretty much 10K, 10Q, and 8-K filings)

4) Lender Presentation-->
5) Slides:
Transaction Overview or
Sources & Uses and Pro Forma Capitalization-->
6) EBITDA, leverage, etc.

KBR - LP (Sources and Uses and Pro Forma Capitalization)
https://www.sec.gov/Archives/edgar/data/1357615/000114036118013387/ex99…

KBR - LP (EBITDA Reconciliation)
https://www.sec.gov/Archives/edgar/data/1357615/000114036118013387/ex99…

Jul 23, 2020 - 1:32am

Appreciate that! Any follow up, happy to help. What exactly are you looking to do with that information? What's the end goal, exercise, or content you are creating?
Chances are, I have created it 100's of times, so the more I know, the more I can help for a given situation.

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