Being able to analyze a company’s financial statements and key metrics is one of the most important parts of the due-diligence process when making investment decisions.
The lessons these financial statements can provide are invaluable. They allow you to learn how different company initiatives perform financially over time, the state of the market, the company’s current financial position, and of course, the direction in which the company is headed.
Financials for Canadian companies
Unfortunately, access to these financial statements is scarce for Canadian companies, given how the US equities have more demand and thus more coverage.
Often times individual investors are left having to copy-paste these financial statements onto their spreadsheet from different websites and the company’s annual reports to be able to perform any type of analysis.
The problem with this approach is that it is highly ineffective. A lot of the time it takes analyzing tens if not hundreds of companies to find an attractive stock investment opportunity.
This means that if it takes you, on average, 2 hours to get the financial statements for each company, and you look at 15 companies, you have already wasted 30 hours just preparing data.
Not a very wise investment of your time, right?
Financials from the annual reports
With Wisesheets, you can get all the company’s annual or quarterly financials, key metrics, and growth metrics directly on your spreadsheet, perfectly formatted for analysis.
Better yet, you can easily compare companies across the same financials and key metrics by using the =WISE function. Which works the same as any function you’ve used in Excel or Google Sheets before.
Wisesheets covers the TSX as well as 50+ other exchanges, including the following:
- XETRA (Germany)
- NSE (India)
- LSE (London)
- MCX (Russia)
- SIX (Switzerland)
- HKSE (Hong Kong)
- ASX (Australia)
- OSE (Norway)
- NYSE (USA)
- NASDAQ (USA)
- AMEX (USA)
- EURONEXT (Europe)
And unlike other alternatives, the price is affordable, and their Excel and Google Sheets add-on is very easy to use.
My fellow Canadian investors, I hope this tool helps you as much as it has helped me. But more importantly, I wish you all the best in your stock investment journey.
To your investing success,