Visible Alpha Estimates

We are excited to introduce Visible Alpha Estimates on S&P Capital IQ Pro platform and S&P Capital IQ Pro Plug-in, offering users access to the most comprehensive consensus estimates and associated historical financials in the market. Covering over 7,300 companies across more than 170 industries, Visible Alpha Estimates provides users the market's view on a company with unparalleled granularity.

Visible Alpha Estimates

With Visible Alpha Estimates and historical financials, users can extract actionable insights from sell-side analyst models and perform in-depth peer analysis using segment and industry-specific metrics and KPIs. Users can  view year-over-year trends and the distribution of analyst estimates for each metric, including median, min, max, and more. Users can also leverage audit capabilities to view the calculation logic and contributors that make up the consensus estimate.

Find it in the platform:

• Company Profile
  • Search for and select a company from the top search e.g., NYSE:SPGI
  • If the company is covered by Visible Alpha*, a Visible Alpha Estimates section will appear in the left-hand navigation menu
  • Expand the section to access a search box
  • Use the search box to find individual metrics
  • Alternatively, browse through the list of financial statements in the left-hand navigation
  • To understand the differences between Standardized Data, Company Data, and Analyst Data, visit our Help site
  • Click on any value to view the calculation logic and detailed estimates from individual contributors
  • Click to expand Consensus Mean to view broker estimates included in consensus
  • Calculated estimates are represented as mathematical expressions (e.g., broker estimated EBITDA may be calculated by adding operating profit and D&A in the event EBITDA wasn’t explicitly included in the analyst’s model)
  • Access Analyst Models: Fully dissect any estimate to the final level in order to view and download the source model
  • Note:  The names of contributing brokers may be displayed in a section of the click through pop-up called “Unentitled Brokers”. To gain access to broker estimates and models, please contact your account team requesting entitlements.
  • Click on the View Row Details options on the right of the period slider, then click on the plus (+) sign next to any metric on the grid to view the specific metric details
    • Pick Statistics to understand the distribution of estimates e.g., broker high and low, median, range.
    • Pick Analytics to view growth trends
    • Pick Sources to view broker values when expanding any metric.  For historical periods, Sources include VA Actuals, filings values (when available), and pre-earnings consensus. For more information, visit our Help site

• Peer Comps:
  • On a company profile, navigate to Profile > Peer Comps in the left-hand navigation
  • If covered by Visible Alpha, select the tab for the desired peer group e.g., IT Consulting
  • The Key Metrics tab displays a list of companies and metrics relevant to this peer group
  • To drill into a single metric and view data over multiple periods, click the plus + sign next to the Key Metrics tab
  • In the Add Trend window, select a metric, and click Apply
  • Alternatively, in Key Metrics, roll over a metric name in the column header and click the + sign

Coverage stats:

• 7,300 companies across more than 170 industries
• 230+ contributing brokers
• 1M+ total consensus line items
• 160+ average consensus lines per company
• 209k+ estimated periods

Note: Access to Visible Alpha estimates data needs an additional subscription, please contact your account team for details.

Visible Alpha Estimates in S&P Capital IQ Pro Plug-in

Users can retrieve Visible Alpha Estimates data directly within the S&P Capital IQ Pro Plug-in. The plug-in now supports the =SPG formula syntax, allowing users to retrieve and audit Visible Alpha data easily.

Find it in the S&P Capital IQ Pro Plug-in:

• Refresh Visible Alpha’s data utilizing =SPG syntax
• Launch S&P Capital IQ Pro Plug-in and open Formula Builder
• Search for and input tickers or use a cell reference
• Use the general syntax for =SPG formulas, where Exchange: Ticker is the first parameter, followed by Data Item, and then Period
• To retrieve Standardized Data,  input an additional parameter within Options to indicate Visible Alpha Standardized Data is being used; Option:DataType=SD
• Example formula: =SPG("NYSE:MCD", "Total Revenue", "FY2023", "Options:DataType=SD")

• To retrieve Company Data, input an additional parameter within Options to indicate Visible Alpha Company Data is being used; Option:DataType=CD
• Example formula: =SPG("NYSE:ACN","Revenue - Consulting","FY2025","Options:DataType=CD")
• To understand the differences between Standardized Data, Company Data, and Analyst Data, visit our Help site

• Audit Visible Alpha data:
  • In the S&P Capital IQ Pro Plug-in, right-click on any cell with the Visible Alpha Data formula that utilizes =SPG syntax
  • Select Audit Data within the pop-up window
  • Alternatively, select any cell containing Visible Alpha Data formula that utilizes =SPG syntax, proceed to the S&P Capital IQ Pro ribbon, and click on Audit Data

Note: Access to Visible Alpha estimates data needs an additional subscription, please contact your account team for details.

Visible Alpha Statement Creator

We launched Visible Alpha Statement Creator to provide users with an efficient way to pull detailed Visible Alpha bulk financial statements in Excel.

Find it in the S&P Capital IQ Pro Plug-in

• Open Excel and launch S&P Capital IQ Pro Plug-in
• Locate the Visible Alpha Statement Creator within the S&P Capital IQ Pro Plug-in ribbon
• In the window that appears, search for a desired company
• Select Standardized Data or Company Template Views
  • Specify the required Sources
  • Select the appropriate From and To periods
  • Choose relevant Statements
  • Click on Apply
  • Open the downloaded spreadsheet, which contains dynamic Visible Alpha data utilizing =SPG syntax

  Note: Access to Visible Alpha estimates data needs an additional subscription, please contact your account team for details.

Formula Integration from Webpages into S&P Capital IQ Pro Plug-in

Users can apply Visible Alpha Estimates formulas from S&P Capital IQ Pro platform directly into the S&P Capital IQ Pro Plug-in, enhancing the integration of robust financial datasets.

Find it in the platform:

• Navigate to any Visible Alpha Estimates webpage
• Click on any data item that is highlighted in blue and click Copy Excel Add-in Formula
• Head over to Excel and paste the copied formula into a desired cell, ensure that formula syntax is pasted correctly within Excel

Note: Access to Visible Alpha estimates data needs an additional subscription, please contact your account team for details.

Private Company Coverage Enhancements

'Group By' Feature for Headcount Data in Screener

All users can now group headcount data by country/region, primary industry, or any parameters within the Group By feature in Screener. This new feature offers a more efficient method for organizing and analyzing data while simplifying the process of calculating aggregates.

Find it in the platform:

• Navigate to Screener from the top navigation or the Apps menu
• Under Browse Criteria, select Company Details > General Business Details > Headcount Analytics folder
• Select required Headcount criteria and parameters
• Click on Run Screen and navigate to the Results
• In the Options menu, apply Group By with the required parameter and view Headcount data grouped by the parameter of your choice

Financials and Firmographics for Australian Private Companies

Users can access additional financial and firmographic data for Australian private companies, significantly enhancing coverage for this geography.

Find it in the platform:

• Search for select a private company in the top search to navigate to its Corporate Profile
• In the left-hand navigation, navigate to Financials > Templated

 Coverage stats:

• ~24k companies

Investment Research

In this release, we improved the editing and saving functionality for saved searches of investment research in S&P Capital IQ Pro platform. We encourage users to explore these new features and share feedback for further improvements.

Saved Search

Users can now save changes to an existing saved search without entering the complete name each time, streamlining the process and enhancing overall efficiency.

Find it in the platform:

• Navigate to the Research tab from the top navigation menu
• Click on Investment & Market Research
• To access your existing saved searches, click on the three-dot icon to the top-right and select Open Saved Searches
• On the popup displaying saved searches, open any of the existing saved searches
• Notice the options to Save or Save As
• Save option will preserve any changes or updates made to the active saved search 
• The Save As option will prompt a popup, allowing to create a new saved search

Help Menu

In this release, we introduced the ‘Ask AI Help’ feature in the Help Menu of the S&P Capital IQ Pro platform. This feature enables users to ask questions and quickly find information in Capital IQ Pro, including retrieving formulas, navigating to Help documentation, , and more.

'Ask AI Help' in S&P Capital IQ Pro

Users can now use the Ask AI Help feature in the Help Menu to ask questions and receive immediate responses related to Capital IQ Pro. Users can also access the source documentation from Help articles used for the answer to get more information.

Find it in the platform:

• Navigate to the Question Mark ? icon on the top right corner of the platform
• Under Quick Support, select Ask AI Help
•  Type a question into the search bar and use the Enter key or click Generate
• Click on the Help articles used for the source documentation for more details
• After asking a question, provide your feedback on the answer by using the Thumbs-up and Thumbs-down options

RatingsDirect®

CreditStats Direct – Download All Financials

RatingsDirect® users with full Capital IQ Pro capabilities can now choose to download several or all CreditStats Direct® financial statements in a single Excel export, significantly enhancing user efficiency compared to the previous method of exporting financial statements one at a time. This will be available for Corporates and Financial Institutions. All other RatingsDirect® users will receive this ability in June 2025.

Find it in the platform:

• Search for and select a company from the top search
• Navigate to CreditStats Direct® from the company's left-hand links
• In the Export drop-down on the top-right of any financial statement, select Custom Export
• On the pop-up, select the required CreditStats Direct® pages to download
• Click on Generate Excel Report

S&P Capital IQ Pro Plug-in

Excel Template Library

Financial Highlights
This model provides a high-level overview of the Company's historical financials & estimates and visualizes data through charts for the selected metric. The model utilizes Visible Alpha data from the S&P Capital IQ Pro Plug-In. #VisibleAlpha

Surprise Analysis 
This model helps clients quickly spot beats and misses on key line items, both for a single company and a custom group of companies. The model utilizes Visible Alpha data from the S&P Capital IQ Pro Plug-In. #VisibleAlpha

Video Game Industry Profitability
This model pulls historical and future estimated financials for publicly traded video game companies.

All Stat Entities - Sector Investment Transactions

Provides a detailed and summary view of all purchases and sales of invested assets for the selected filing period for an entire sector (P&C, Life or Health). Also displays a high-level summary of transactions by assets category (stocks, bonds, mortgage loans, JVs, etc.

Estimates (Industry Specific)

Provides consensus estimates (including all industry-specific estimates), surprise & actuals, and forward multiples, along with charts showing trends for Recommendation & Target Price. #CIQ

Discounted Cash Flow (DCF)

Calculate the Discounted Cash Flows (DCF) of a company, including WACC and exit multiple sensitivity outputs. It also includes customizable selections for the risk-free rate of return & sensitivity analysis. #valuation #CIQ #language

March 2025 S&P Capital IQ Pro Release Notes

March 2025 S&P Capital IQ Pro Release Notes

Read March 2025 S&P Capital IQ Pro Release Notes

• Private Markets: We introduced new Headcount Analytics data for over 4.3 million private companies. Headcount data and analytics can help users assess the size and growth trends of private companies and industries through the lens of the human capital or size of workforce for potential investment opportunities.
• Content Expansion: We expanded transaction valuations coverage to include estimated values for private company M&A deals and funding rounds, enhanced sector coverage for Insurance (incorporating the 2025 quarterly NAIC statutory filing updates), Banks & Credit Unions, Metals & Mining, and Media & Telecommunications.
• Market Data Enhancements: Term SOFR and Term SONIA Risk-Free rates are now part of Capital IQ Pro. Additionally, we integrated the Tadawul All Shares Index (TASI).
• Workflow Efficiencies: In Document Intelligence, we enabled ChatIQ, a Generative AI assistant, for Investment Research, facilitating deeper interaction and insights across a broader corpus of textual datasets.
• Enhancing Core Capabilities: We added a new interactive Stock Chart by integrating ChartIQ to offer improved performance, greater interactivity and relevancy, and improved customization options. We also enabled click-through functionality for specific market data items, including Market Cap and Total Enterprise Value, within Screener, S&P Capital IQ Pro Plug-in, and Peer Comps.

February 2025 S&P Capital IQ Pro Release Notes

February 2025 S&P Capital IQ Pro Release Notes

Read February 2025 S&P Capital IQ Pro Release Notes

• All users will gain access to ChatIQ, a Generative AI assistant that enables users to ask questions on S&P Capital IQ Pro data, providing them with significant time-saving responses and simplifying navigation throughout the platform.
• We added a new outlook summary to S&P's earnings call to provide users with forward-looking insights, including revenue projections, earnings estimates, key drivers, market conditions, potential risks and uncertainties, among other factors.
• We enhanced business descriptions for over 450,000 private companies, delivering more robust and accurate information about their business operations to enhance the deal-sourcing workflow.
• We introduced daily Open, High and Low values for indices and added Moody’s Bond indices to our coverage, offering deeper data visualization insights and diversified data offerings.
• We upgraded our delivery and coverage of SENS announcements, a regulatory service offered by the Johannesburg Stock Exchange (JSE) that covers various announcements, including mergers and takeovers, rights offers, capital issues, annual consolidated financial results, dividend declarations and board changes.

March 2025 S&P Capital IQ Release Notes

March 2025 S&P Capital IQ Release Notes

Read March 2025 S&P Capital IQ Release Notes

In this release, we added new enhancements on Capital IQ to improve your daily workflows:

• We enhanced reporting efficiency in Portfolio Analytics by adding the ability to export a firm’s exposure data for use in external workflows.
• We introduced a Cash Flow data input template in the Project Finance app to streamline inputs for Probability of Default (PD) and Loss Given Default (LGD) assessments.
• We launched the ‘Save Progress’ feature in ProSpread, enabling users to save and resume their extraction workflows for greater flexibility.
• We introduced GSAC V3 Bond Sector Curves, in the S&P Capital IQ Plug-In, enhancing the precision of bond sector analysis and aligning with the Global Industry Classification Standard (GICS).

Marketplace Data & Solutions Communiqué

Marketplace Data & Solutions Communiqué

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• Marketplace Data & Solutions March 2025 Communiqué
• Marketplace Data & Solutions February 2025 Communiqué