Roderick MacIver & Co. Inc. identifies inordinate risk in client portfolios.
Using Graham & Dodd credit analysis, we track the financial statements of companies held by our clients to identify emerging trends in:
- return on capital and their constituent components (capital turnover, margins)
- debt versus equity
- free cash flow
- times interest coverage
- liquidity (inventory, receivable versus sales)
- capital expenditures in relation to cash flow
- growth in earnings, operating profit, gross profit, revenue and free cash flow
The primary emphasis of this research is on rolling twelve month analysis, but consideration is also given to latest quarter versus prior year quarter, and last five years versus prior five years.
For more on the financial statement analysis techniques we employ, visit Methodology.
We report quarterly to clients. Each reports consists of:
- Summary analysis in Excel spreadsheet form of companies in client portfolios listed in order of financial statement risk. For comparison purposes, the spreadsheet contains summary statistics on all 6,000 companies in our database.
- Six or seven page reports on every company in client portfolios detailing financial statement trends and price versus intrinsic value. Visit Sample Reports for examples.
- Our quarterly custom Balance Sheet Risk Reports are available for $25 per quarter per company. After the first quarter, subscriptions are billed annually.
The role of a Devil’s Advocate
- Our role is to identify and quantify inordinate risk in client portfolios. Rather than be agreeable, our objective is to be helpful, useful.