Excel Stock Analyzer – Version 1.0

Published: December 25, 2014 at 8:33 am

Last Updated on

Use this Excel spreadsheet to analyze Indian stocks.  I am trying to build a stock analyzer with which one can comprehensively analyze a stock, obtain fair value with different methods, obtain growth rates of different metrics and visualize them graphically.

This is the first version of such an attempt. The sheet calculates ‘fair value’ of a stock using the ‘price multiple model’. Other valuation models will be incorporated in the coming days.

Users would need to create a free MorningStar India account, navigate to the stock page there and download the data file from the ‘Financials and Key Ratios’ tab and follow simple instructions give in the stock analyzer spreadsheet.  The sheet can be used without an Morningstar account as well but some metrics may be missing.

MorningStar India’s stock info is not as comprehensive as its US page.  My aim is to source as much as information as possible from direct online resources instead of having to look at the balance sheet.  I understand that as of now, this is not possible, but try we must.

The sheet is flexible. The user can paste any other metric from say Screener.in or VR online etc and analyze it using the cell formula. Of course this needs a bit of Excel knowledge.

Please recognize that this is the work of a student who is trying to learn how to value and understand businesses.  Please check the formulae used, before making any conclusions based on this sheet.  My lack of experience in picking stocks should be visible in the sheet.

All the factors that influence a business can never be put on an Excel spreadsheet.  This is an analysis of the past with the future unknown.  However,  ‘good management’ should show up in the numbers and hopefully does not change overnight.

Here are some screenshots (click to enlarge)

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The sheet where Morning Star India data must be pasted by the user
The sheet where Morning Star India data must be inserted by the user
The analysis sheet
The analysis sheet
All metrics from the analysis sheet can be graphically analyzed
All metrics from the analysis sheet can be graphically analyzed
Valuation with price multiple model
Valuation with ‘price multiple model’

More valuation models will be added in future versions.  If you have suggestions to improve this sheet, I am all ears.

Merry Christmas! Thank you for kind support and encouragement.

Download the Excel Stock Analyzer Spreadsheet 

Download version 14th of the freefincal stock analyzer June 16th, 2019

Version 3.0 14-01-2014. Automated version.

Version 2.0  27-12-2014. Two sheets dedicated to Warren Buffett’s approach to stock valuation.

Version 1.1  – 25-12-2014 Thanks to Balaji Swaminathan for pointing that ADR listings produce an error because of USD. The error is now corrected.  Also, thanks to Raghavendra Shenoy for suggesting that a disclaimer be added to the price multiple model sheet:

Version 1.0 25-12-2014

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Pattabiraman editor freefincalM. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. since Aug 2006. Connect with him via Twitter or Linkedin Pattabiraman has co-authored two print-books, You can be rich too with goal-based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management. He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice.
He conducts free money management sessions for corporates and associations on the basis of money management. Previous engagements include World Bank, RBI, BHEL, Asian Paints, Cognizant, Madras Atomic Power Station, Honeywell, Tamil Nadu Investors Association. For speaking engagements write to pattu [at] freefincal [dot] com

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36 Comments

  1. latter i studied the valuation for colgate and found you used forward pe ratio for arriving the market value of the share after 3 yrs/ 5 yrs . i think , that is over valuation , particularly at time of valuations running higher than fundamentals. is not better to use average historical pe ratio instead of forward pe ratio?

  2. latter i studied the valuation for colgate and found you used forward pe ratio for arriving the market value of the share after 3 yrs/ 5 yrs . i think , that is over valuation , particularly at time of valuations running higher than fundamentals. is not better to use average historical pe ratio instead of forward pe ratio?

  3. Excellent method,Congratulations!
    Can you please explain how to find future value of Direct plan v/s ordinary plan in Mutual Funds?
    Is there any calculator to measure it?

  4. Excellent method,Congratulations!
    Can you please explain how to find future value of Direct plan v/s ordinary plan in Mutual Funds?
    Is there any calculator to measure it?

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