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Morningstar Fundamental Data Periods Update Frequency

I'm working with a universe selection algorithm that selects stocks with the highest traililng 12 month ROIC as defined as EBIT/Invested Capital. 

Debug(i.Symbol + " EBIT " + i.FinancialStatements.IncomeStatement.EBIT.TwelveMonths/1000000 + " Invested Capital " +i.FinancialStatements.BalanceSheet.InvestedCapital.TwelveMonths/1000000 );

Selection is done on the last trading day of each month, which for Janauary 2020 was the 31st. One of the symbols returned using methods from the above snippet was Boeing which I thought was odd:

BA R735QTJ8XC9X EBIT 12079 Invested Capital 14030 

Boeing reported earnings January 28 and reported a big loss; I checked the $12bn EBIT number above  against their 10-K and it seems to be the 2018 EBIT number. So I'm guessing the selection here could be because by the time stock selection happened the latest numbers hadn't been reflected in Morningstar and or QC? I read in the documentation that most fundamental data gets updated once per month, but when exactly does that update happen? 


 

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Hi P Chen , Fine fundamental data is updated every day with the latest data available from MorningStar.

Respect to the data updates, it is complex. There are some properties like Ratios that are updated daily for most of the big companies. Small companies/securities can have a single update per month. But there is another subtlety; there are some properties - EBIT is one of them -  with different periods, e.g., 3M, 9M, 12M, etc. each one of those fields is updated independently when the given period completed.

In this particular case, EBIT.TwelveMonths property for was updated with the newest value on 2020-01-31.

Hope this clarifies your doubts.

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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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