{"id":5500,"date":"2024-04-29T05:46:14","date_gmt":"2024-04-29T05:46:14","guid":{"rendered":"https:\/\/eodhd.com\/financial-academy\/?p=5500"},"modified":"2024-04-29T05:46:41","modified_gmt":"2024-04-29T05:46:41","slug":"financial-statement-analysis-with-excel","status":"publish","type":"post","link":"https:\/\/eodhd.com\/financial-academy\/fundamental-analysis-examples\/financial-statement-analysis-with-excel","title":{"rendered":"Financial Statement Analysis with Excel"},"content":{"rendered":"\n<p>Analyzing a company&#8217;s financial statements is essential for investors and finance professionals to assess corporate performance and health. While this process can be complex, Financial Statement Analysis in Excel powered by dynamic <a href=\"https:\/\/eodhd.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">EODHD APIs<\/a> is much more efficient.<\/p>\n\n\n\n<p>In this guide, we&#8217;ll walk through how to build an Excel template that pulls key financial statement data from EODHD&#8217;s APIs, allowing you to analyze any public company&#8217;s financials. EODHD provides simple JSON APIs covering fundamentals, stock prices, and more for 150,000+ tickers across 70+ worldwide exchanges.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><a class=\"maxbutton-1 maxbutton maxbutton-subscribe-to-api external-css btn\" href=\"https:\/\/eodhd.com\/register\"><span class='mb-text'>Register &amp; Get Data<\/span><\/a><\/p>\n\n\n\n<p>You can also check our guides for <a href=\"https:\/\/eodhd.com\/financial-academy\/portfolio-performance-examples\/excel-stock-portfolio-spreadsheet-how-to-build\/\" target=\"_blank\" rel=\"noreferrer noopener\">Excel Stock Portfolio Tracker<\/a> and <a href=\"https:\/\/eodhd.com\/financial-academy\/stocks-data-processing-examples\/microsoft-excel-stock-market-dashboard\/\" target=\"_blank\" rel=\"noreferrer noopener\">Market Dashboard<\/a>. Here you&#8217;ll find more information on our <a href=\"https:\/\/eodhd.com\/financial-apis\/category\/stock-prices-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ready-to-Go<\/a> solutions.<\/p>\n\n\n\n<p>Download our Financial Analysis Excel Template to follow the article:<\/p>\n\n\n\n<div class=\"wp-block-file\"><a id=\"wp-block-file--media-1e3135f7-51d4-4d9c-adbe-131ebb2c87c5\" href=\"https:\/\/eodhd.com\/financial-academy\/wp-content\/uploads\/2024\/04\/EODHD_Financials_Spreadsheet.xlsx\">EODHD_Financials_Spreadsheet<\/a><a href=\"https:\/\/eodhd.com\/financial-academy\/wp-content\/uploads\/2024\/04\/EODHD_Financials_Spreadsheet.xlsx\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-1e3135f7-51d4-4d9c-adbe-131ebb2c87c5\">Download<\/a><\/div>\n\n\n\n<p class=\"has-text-align-left\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-sign-up-for-eodhd-and-get-your-api-key\">Sign up for EODHD and get your API key<\/h2>\n\n\n\n<p>Register for a free EODHD account at&nbsp;<a href=\"https:\/\/eodhd.com\/register\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/eodhd.com\/register<\/a>&nbsp;to receive your API key. The free plan allows 20 API requests\/day and 1 year of EOD historical data. Paid plans starting at <a href=\"https:\/\/eodhd.com\/pricing\" target=\"_blank\" rel=\"noreferrer noopener\">$19.99\/month<\/a> enable more API calls and access to 30+ years of data.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><a class=\"maxbutton-1 maxbutton maxbutton-subscribe-to-api external-css btn\" href=\"https:\/\/eodhd.com\/register\"><span class='mb-text'>Register &amp; Get Data<\/span><\/a><\/p>\n\n\n\n<p>To follow the article and test the basic <a href=\"https:\/\/eodhd.com\/financial-apis\/quick-start-with-our-financial-data-apis\/\" target=\"_blank\" rel=\"noreferrer noopener\">functionality <\/a>of our APIs you can use our &#8220;demo&#8221; key. The key gives you access to the Fundamentals and Historical data for AAPL, TSLA, MSFT, and MCD tickers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-create-a-spreadsheet\">Create a Spreadsheet<\/h2>\n\n\n\n<p>You can download <a href=\"https:\/\/eodhd.com\/financial-academy\/wp-content\/uploads\/2024\/04\/EODHD_Financials_Spreadsheet.xlsx\" target=\"_blank\" rel=\"noreferrer noopener\">our template spreadsheet<\/a> to be able to recreate steps more easily. However, you could create your own spreadsheet following the next steps:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Add rows for the main line items like revenue, net income, assets, liabilities, etc.<\/li>\n\n\n\n<li>Use Excel formulas to calculate metrics like Revenue Growth %, Profit Margin, ROE, etc.<\/li>\n\n\n\n<li>Create sections for the three key statements: Income Statement, Balance Sheet, Cash Flow<\/li>\n<\/ul>\n\n\n\n<p>To navigate statements, you can use the dropdown list option. Navigate to &#8220;Data->Data Tools->Data Validation&#8221; and allow list option.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1242\" height=\"652\" src=\"https:\/\/eodhd.com\/financial-academy\/wp-content\/uploads\/2024\/04\/dropdown_list_Fundamentals-1.gif\" alt=\"\" class=\"wp-image-5533\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-pull-in-data-from-eodhd-api\">Pull in data from EODHD API <\/h2>\n\n\n\n<p>The main tool to retrieve data into the spreadsheet cell from an API is a &#8220;=WEBSERVICE()&#8221; Excel formula. By using the formula you can get access to all our Fundamental And Historical APIs. Thus, It is important to check the official <a href=\"https:\/\/support.microsoft.com\/en-us\/office\/webservice-function-0546a35a-ecc6-4739-aed7-c0b7ce1562c4\" target=\"_blank\" rel=\"noreferrer noopener\">documentation from Microsoft<\/a>.<\/p>\n\n\n\n<p>Use the <a href=\"https:\/\/eodhd.com\/financial-apis\/stock-etfs-fundamental-data-feeds\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fundamentals API<\/a> to retrieve the financial statement figures for your chosen stock:<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">=LET(raw_data, WEBSERVICE(\"https:\/\/eodhd.com\/api\/fundamentals\/\"&amp;$B$5&amp;\"?api_token=\"&amp;$B$2&amp;\"&amp;filter=Financials::\"&amp;$C$9&amp;\"::yearly::\"&amp;TEXT(D9, \"YYYY-MM-DD\")),\nfiltered_data, FILTERXML(\"&lt;t&gt;&lt;s&gt;\"&amp;SUBSTITUTE(MID(raw_data,2,LEN(raw_data)-2),\",\",\"&lt;\/s&gt;&lt;s&gt;\")&amp;\"&lt;\/s&gt;&lt;\/t&gt;\",\"\/\/s\"),\nVALUE(SUBSTITUTE(SUBSTITUTE(filtered_data, LEFT(filtered_data, FIND(\":\", filtered_data)), \"\"), \"\"\"\", \"\")))\n<\/pre>\n\n\n\n<p>How the formula works:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>It retrieves data from a web service using the <a href=\"https:\/\/support.microsoft.com\/en-us\/office\/webservice-function-0546a35a-ecc6-4739-aed7-c0b7ce1562c4\" target=\"_blank\" rel=\"noreferrer noopener\">WEBSERVICE <\/a>function, with the URL constructed using cell references $B$5(ticker) and $B$2(API token).<\/li>\n\n\n\n<li>After that, the raw data from the web service is stored in the <a href=\"https:\/\/support.microsoft.com\/en-us\/office\/let-function-34842dd8-b92b-4d3f-b325-b8b8f9908999#:~:text=The%20LET%20function%20assigns%20names,through%20Excel's%20native%20formula%20syntax.\" target=\"_blank\" rel=\"noreferrer noopener\">variable <\/a>&#8216;raw_data&#8217;.<\/li>\n\n\n\n<li>The <a href=\"https:\/\/support.microsoft.com\/en-us\/office\/filterxml-function-4df72efc-11ec-4951-86f5-c1374812f5b7\" target=\"_blank\" rel=\"noreferrer noopener\">FILTERXML <\/a>function allows parsing the &#8216;raw_data&#8217; by converting commas to XML tags, creating an XML structure, and then extracting the desired data using an XPath expression. The result is stored in the &#8216;filtered_data&#8217; variable.<\/li>\n\n\n\n<li>The <a href=\"https:\/\/support.microsoft.com\/en-us\/office\/left-leftb-functions-9203d2d2-7960-479b-84c6-1ea52b99640c\" target=\"_blank\" rel=\"noreferrer noopener\">LEFT and FIND <\/a>functions locate and remove a specific substring (from the start of the string until the first colon) from the &#8216;filtered_data&#8217;.<\/li>\n\n\n\n<li>The <a href=\"https:\/\/support.microsoft.com\/en-us\/office\/substitute-function-6434944e-a904-4336-a9b0-1e58df3bc332\" target=\"_blank\" rel=\"noreferrer noopener\">SUBSTITUTE <\/a>function replaces the identified substring with an empty string.<\/li>\n\n\n\n<li>Finally, the <a href=\"https:\/\/support.microsoft.com\/en-us\/office\/value-function-257d0108-07dc-437d-ae1c-bc2d3953d8c2\" target=\"_blank\" rel=\"noreferrer noopener\">VALUE <\/a>function converts the resulting string to a numeric value.<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1907\" height=\"768\" src=\"https:\/\/eodhd.com\/financial-academy\/wp-content\/uploads\/2024\/04\/Cell_Formula_Fundamentals.gif\" alt=\"Excel Financial Statement Analysis\" class=\"wp-image-5510\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-add-ratios\">Add Ratios<\/h2>\n\n\n\n<p>There are several ways to calculate ratios or metrics to show the trend in financials over the period.<\/p>\n\n\n\n<p><strong>Year-over-Year (<a href=\"https:\/\/www.wallstreetprep.com\/knowledge\/year-over-year-yoy\/\" target=\"_blank\" rel=\"noreferrer noopener\">YoY<\/a>) Growth Rate:<\/strong> Calculate the percentage change in earnings from one year to the next. For example:<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">2023 vs 2022: (27195000000 - 24512000000) \/ 24512000000 = 10.95%<\/pre>\n\n\n\n<p>Then duplicate the formula over the number of periods required. The template has 4 years, you can monitor the change over longer periods depending on your analysis time horizon.<\/p>\n\n\n\n<p><strong>Compound Annual Growth Rate (<a href=\"https:\/\/www.investopedia.com\/terms\/c\/cagr.asp\" target=\"_blank\" rel=\"noreferrer noopener\">CAGR<\/a>):<\/strong> Calculate the average annual growth rate over the entire period. For example: <\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">CAGR = (Ending Value \/ Beginning Value)^(1 \/ Number of Years) - 1 CAGR = (27195000000 \/ 19269000000)^(1 \/ 3) - 1 = 12.19%<\/pre>\n\n\n\n<p>These ratios help demonstrate the trend in financials over the period. The YoY Growth Rate shows the year-to-year changes, the CAGR represents the average annual growth rate.<\/p>\n\n\n\n<p>To pull in the current recalculated ratios, use the following cell formula with the <a href=\"https:\/\/eodhd.com\/financial-apis\/stock-etfs-fundamental-data-feeds\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fundamental API call<\/a>:<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">=LET(raw_data,WEBSERVICE(\"https:\/\/eodhd.com\/api\/fundamentals\/\"&amp;$B$5&amp;\"?api_token=\"&amp;$B$2&amp;\"&amp;filter=Highlights\"),\nfiltered_data,FILTERXML(\"&lt;t&gt;&lt;s&gt;\"&amp;SUBSTITUTE(MID(raw_data,2,LEN(raw_data)-2),\",\",\"&lt;\/s&gt;&lt;s&gt;\")&amp;\"&lt;\/s&gt;&lt;\/t&gt;\",\"\/\/s\"),\nSUBSTITUTE(LEFT(filtered_data,FIND(\":\",filtered_data)-1),\"\"\"\",\"\"))\n<\/pre>\n\n\n\n<p>The formula retrieves data from an API call, extracts a specific portion of the response using string manipulation and XML parsing, and returns a list of numeric values.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-add-conditional-formatting-and-charts\">Add conditional formatting and charts<\/h2>\n\n\n\n<p>Use conditional formatting to highlight trends like falling revenue. Create charts showing the growth rates of key metrics over time.<\/p>\n\n\n\n<p>To visualize changes in the Financials, you could use conditional formatting on calculated ratios. This will visualize changes over the period for a specific value. Select an array of values and choose Home-Conditional Formating-Data Bars.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1906\" height=\"882\" src=\"https:\/\/eodhd.com\/financial-academy\/wp-content\/uploads\/2024\/04\/Cell_Formating_Fundamentals.gif\" alt=\"Excel Financial Statement Analysis Formating\" class=\"wp-image-5511\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\">Conclusion<\/h2>\n\n\n\n<p>With this template powered by EODHD&#8217;s APIs, you can quickly access and analyze the financials for any stock to uncover crucial insights. The EODHD platform offers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Worldwide coverage: 150,000+ stocks, 20,000+ ETFs, 1000+ indices across 70+ exchanges<\/li>\n\n\n\n<li>Deep history: 30+ years of fundamentals and EOD pricing data<\/li>\n\n\n\n<li>Excel-friendly: Simple APIs that work seamlessly with WEBSERVICE<\/li>\n\n\n\n<li>Low cost: Plans from $19.99\/month<\/li>\n<\/ul>\n\n\n\n<p>EODHD&#8217;s financial data APIs combined with Excel&#8217;s analysis capabilities provide a powerful yet accessible toolset for in-depth financial statement analysis. This templated approach streamlines the data gathering to let you focus on uncovering actionable insights to drive better investment decisions.<\/p>\n\n\n\n<p>Feel free to contact our support team at <a href=\"mailto:support@eodhistoricaldata.com\" target=\"_blank\" rel=\"noreferrer noopener\">support@eodhistoricaldata.com<\/a> for any questions or current discount offers. We&#8217;re happy to assist you through the process of leveraging EODHD&#8217;s data to elevate your investment workflow.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><a class=\"maxbutton-1 maxbutton maxbutton-subscribe-to-api external-css btn\" href=\"https:\/\/eodhd.com\/register\"><span class='mb-text'>Register &amp; Get Data<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analyzing a company&#8217;s financial statements is essential for investors and finance professionals to assess corporate performance and health. While this process can be complex, Financial Statement Analysis in Excel powered by dynamic EODHD APIs is much more efficient. In this guide, we&#8217;ll walk through how to build an Excel template that pulls key financial statement [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":5503,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,42,48],"tags":[91,85],"coding-language":[],"ready-to-go-solution":[],"qualification":[33],"financial-apis-category":[],"financial-apis-manuals":[37],"class_list":["post-5500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis-examples","category-stocks-data-analysis-examples","category-stocks-data-processing-examples","tag-best-financial-api","tag-financial-data-spreadsheets","qualification-newbie","financial-apis-manuals-stocks-fundamentals","has_thumb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v26.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Financial Statement Analysis with Excel | EODHD APIs Academy<\/title>\n<meta name=\"description\" content=\"Step-by-Step guide for how to create your Excel Financail Statement analysis tool. 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