Example with fictitious companies and made-up data: they show how the tool responds to each situation.

Examples · fictitious companies

How the tool responds to each situation

Real companies rarely have all their data complete, and no two are alike. These 13 companies are made up, each in a different situation, to check that the tool handles it well and never makes up a figure.

The situationWhat is special about the company.
What the tool doesHow it handles it, without making anything up.
The result on its company sheetThe figures and warnings exactly as they appear.

The reference

A company with all its data: this is what a complete company sheet looks like.

Company without issues

Valdoria Maquinaria, S.A.ESCapital goods

The situation: An industrial company with complete accounts, share price and bonds.
What the tool does: It calculates every metric and both scores with all their factors.

The result on its company sheet

Equity score	46
Coverage: 100 %
Credit score	62
Coverage: 100 %
P/E	21.8x
Net debt/EBITDA	1.6x

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When a figure is missing

The tool never estimates or fills in a missing figure: it flags it, says why and scores with the remaining factors. If too many are missing, it gives no score.

Capital expenditure is missing

Corvalis Transports SAFRTransport and logistics

The situation: It has not published its 2025 capital expenditure (capex).
What the tool does: Without capital expenditure there is no free cash flow: the FCF yield shows “no data” and the shareholder score is calculated with the other factors.

The result on its company sheet

FCF yield	No data
LTM capital expenditure (capex): missing “Capital expenditure (capex)” for FY 31/12/2025
Equity score	47
Coverage: 86 %

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Interest expense is missing

Lumbria Moda S.p.A.ITRetail

The situation: It has not published its 2025 interest expense.
What the tool does: Interest coverage shows “no data” and the creditor score is calculated with the other factors.

The result on its company sheet

Interest coverage	No data
LTM interest expense: missing “Interest expense” for FY 31/12/2025
Credit score	37
Coverage: 75 %

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Stale share price

Skarvik Logistik ABSETransport and logistics

The situation: Its last share price is more than three months old.
What the tool does: The metrics that need the price are shown as “stale data”; the accounting ones, such as ROE, are calculated as usual. Too many factors are missing to give it a shareholder score.

The result on its company sheet

P/E	Stale data
Market cap (SEK): Share price: the latest share price is from 27/03/2026 (95 days before the analysis date; maximum 10)
ROE	12.4 %
Equity score	Not available
Coverage of 57 %, below the minimum of 60 %

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Companies with special features

Common situations in a portfolio that call for handling the data differently.

Negative EBITDA

Orbelia Digital, S.A.ESIT services

The situation: A loss-making technology company: its EBITDA and its profit over the last twelve months are negative.
What the tool does: A multiple of a negative figure makes no sense: the P/E, EV/EBITDA and net debt/EBITDA show “not meaningful”. It also warns about the leverage.

The result on its company sheet

P/E	Not meaningful
LTM attributable net income is negative (-190.7 M EUR)
EV/EBITDA	Not meaningful
LTM EBITDA is negative (-83.6 M EUR)
Net debt/EBITDA	Not meaningful
LTM EBITDA is negative (-83.6 M EUR)
Alert	High leverage
Negative EBITDA (-83.6 M EUR) with positive net debt (479.3 M EUR): leverage above any threshold

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Company without debt

Helvantis Data AGCHSoftware

The situation: A technology company with no financial debt and no bonds.
What the tool does: Its net debt is negative (it has more cash than debt) and it gets no creditor score: there are no bonds to analyse.

The result on its company sheet

Net debt/EBITDA	-1.2x
Interest coverage	Division by zero
LTM interest expense is zero
Credit score	Not available
The company has no outstanding bonds (required factor: Spread versus its rating bucket)

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Listed in euros, reports in dollars

Nexlio Semiconductors N.V.NLSemiconductors

The situation: It is listed in Amsterdam in euros, but its accounts are in dollars.
What the tool does: It converts the market capitalisation into dollars at the exchange rate of the share price's date, so that the P/E compares figures in the same currency.

The result on its company sheet

Share price	64.24 EUR on 26/06/2026
Currency of the accounts	USD
Market cap (USD)	33,060.1 M
The one the P/E uses
P/E	16.0x

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Fiscal year ending in March

Pellingham & Rowe plcGBRetail

The situation: Its fiscal year runs from April to March.
What the tool does: It uses the latest published fiscal year, ended in March 2026, and compares it with the other companies' 2025.

The result on its company sheet

Reference period	FY ended 31/03/2026, published on 10/06/2026
Revenue growth	2.0 %

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Bank

Banco Valdemora, S.A.ESBanks

The situation: A bank: its debt is mostly deposits and its business is lending.
What the tool does: The metrics based on EBITDA, net debt or enterprise value are “not applicable” and do not count in the score; the P/E and ROE do.

The result on its company sheet

EV/EBITDA	Not applicable
Not applicable to banks and insurers: their EBITDA, debt and enterprise value are not comparable with those of a non-financial company.
Debt/equity	Not applicable
Not applicable to banks and insurers: their debt includes deposits and the funding of their business, and their solvency is measured with capital ratios.
ROE	12.9 %
Credit score	Not available
Only 1 factor with data (minimum 2)

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Insurer

Aubrac Assurances SAFRInsurance

The situation: An insurer: it invests the premiums it collects to pay claims.
What the tool does: As with banks: those metrics are “not applicable” and the score uses the others.

The result on its company sheet

FCF yield	Not applicable
Not applicable to banks and insurers: their operating cash flows include the movements in deposits, loans and investments of their business.
ROE	13.8 %
Equity score	56
Coverage: 100 %

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Bonds and ratings

How the tool follows bond ratings and spreads.

Rating downgrade

Ashcombe Infrastructure plcGBConstruction and infrastructure

The situation: Its bonds were cut from BBB- to BB+ on 12/03/2026: they stopped being investment grade.
What the tool does: It raises an alert for each bond and from then on compares them with those in the BB bucket.

The result on its company sheet

Alert	Rating downgrade
Rating downgrade of bond ZZBASHC00016: from BBB- to BB+ (SAMPLE, 12/03/2026); it falls from investment grade to high yield
Alert	Rating downgrade
Rating downgrade of bond ZZBASHC00024: from BBB- to BB+ (SAMPLE, 12/03/2026); it falls from investment grade to high yield
Alert	High leverage
Net debt/EBITDA of 4.1x, above the 3.5x threshold
Bond maturing 09/07/2029	BB+ (SAMPLE)
-9 bp (bucket median: 275 bp)
Bond maturing 25/01/2033	BB+ (SAMPLE)
+9 bp (bucket median: 275 bp)

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Rating upgrade

Verdalia Foods N.V.NLFood and beverages

The situation: Its bonds were upgraded from A- to A in 2024.
What the tool does: An upgrade does not trigger an alert: it only changes the bucket they are compared with.

The result on its company sheet

Bond maturing 26/03/2029	A (SAMPLE)
-15 bp (bucket median: 84 bp)
Bond maturing 20/09/2033	A (SAMPLE)
+6 bp (bucket median: 84 bp)
Alerts	None

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Rating bucket with few bonds

Gresham Power & Light Co.USElectric utilities

The situation: One of its bonds is AA-, a bucket with very few bonds in the sample, and another has no rating.
What the tool does: It does not compare a spread with a group that is too small or with a bucket that does not exist: it flags them and uses only the bond that can be compared.

The result on its company sheet

Bond maturing 26/01/2031	A (SAMPLE)
+14 bp (bucket median: 84 bp)
Bond maturing 21/04/2035	AA- (SAMPLE)
Not enough peers: only 1 bond(s) in the AAA-AA bucket (minimum 3)
Bond maturing 15/08/2029	No rating
No data: the bond has no rating
Spread versus its rating bucket	14 bp
median of 1 of 3 bonds

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Made-up data. The scores compare each company with the 20 in the sample set, although only the 13 that show a case appear here. Ranking of the cases · CSV for Excel

The scores summarise metrics compared with similar companies, and the alerts point to specific facts. Nothing shown here is a recommendation to buy or sell.