Methodology
Data Sources & Accuracy
Where ValueMarkers gets its data, how frequently it updates, what we cover, and the known limitations you should be aware of before making investment decisions.
Primary Data Source
Financial Modeling Prep (FMP)
All fundamental financial data on ValueMarkers is sourced from Financial Modeling Prep (FMP), a financial data provider that aggregates SEC and EDGAR filings, IFRS regulatory submissions, and exchange data across 73 global stock exchanges. FMP is our primary source for all income statements, balance sheets, cash flow statements, key ratios, and valuation metrics.
FMP processes filings from the US Securities and Exchange Commission (SEC), EDGAR database, and equivalent regulatory bodies internationally (SEDAR in Canada, ESMA in Europe, ASX in Australia, TSE in Japan, and others). This allows ValueMarkers to maintain a consistent data model across companies with different reporting standards (US GAAP and IFRS).
Real-time and delayed price feeds are sourced separately from exchange data providers and are updated continuously during market hours. Prices used in ratio calculations (P/E, P/B, EV/EBITDA, etc.) reflect the most recent available trading price at the time of score computation.
Update Frequency
| Data Type | Update Frequency | Trigger |
|---|---|---|
| Real-time price | Continuous (market hours) | Exchange tick data |
| Key ratios (P/E, P/B, EV/EBITDA, etc.) | Daily | Price change + latest fundamentals |
| Quarterly financials (earnings) | Within 24h of SEC filing | 10-Q / 6-K filing ingestion |
| Annual financials | Within 24h of SEC filing | 10-K / 20-F filing ingestion |
| Analyst estimates & price targets | Daily (when available) | Consensus update from brokers |
| Insider transactions | Within 24h of Form 4 filing | SEC Form 4 ingestion (US only) |
| Institutional holdings | Quarterly | 13-F filing ingestion (US only) |
| VMCI & Value Score | Daily | Nightly recalculation job |
Display pages use Next.js Incremental Static Regeneration (ISR) with a 6-hour cache window. Individual stock pages may show data up to 6 hours old during off-peak hours; live data is always available via the API.
Global Exchange Coverage
ValueMarkers covers stocks listed on 73 global exchanges. Coverage depth varies by exchange: US markets have the fullest dataset (20+ years of history, full SEC filing set); international markets have core fundamentals with varying historical depth.
United States
NYSE, NASDAQ, AMEX
Full (20Y+, all 120 indicators)
Europe
LSE, Euronext, XETRA, SIX
Core (10Y+, 90+ indicators)
Canada
TSX, TSX-V
Core (10Y+, SEDAR filings)
Asia-Pacific
ASX, TSE, HKEX, SGX
Core (5Y+, varies by exchange)
Emerging Markets
BSE, NSE, B3, JSE
Partial (3Y+, core ratios)
Other
30+ additional exchanges
Basic (price + key ratios)
Known Limitations
All financial data has inherent limitations. We document ours transparently so you can make informed decisions about how to use ValueMarkers data.
Short interest data is US-only
Short interest figures are sourced from FINRA (Financial Industry Regulatory Authority) which only covers US-listed securities. International stocks will show no short interest data.
Insider transaction coverage varies internationally
Form 4 insider transaction data is available and comprehensive for US stocks. For international markets, insider disclosure requirements and filing formats differ significantly by jurisdiction — coverage is partial and may be delayed.
Some emerging market fundamentals have gaps
For stocks listed in certain emerging markets, historical financial data may only go back 3-5 years. VMCI scores for these stocks are computed on available indicators — null-handling excludes missing indicators rather than penalising them.
Analyst estimates are broker-dependent
Forward earnings estimates are available for stocks covered by at least one sell-side analyst in the FMP dataset. Small-cap and micro-cap stocks may have no analyst coverage, resulting in null forward P/E and similar forward-looking indicators.
Filing latency after quarterly reports
While fundamental data is updated within 24 hours of SEC filing, some companies file late or use extended deadlines. During earnings season, there may be a 1-3 day window between a company reporting results and the data appearing in ValueMarkers.
Currency normalisation is USD-based
All financial figures for non-US companies are converted to USD using the exchange rate at the time of filing. Currency fluctuations between reporting periods can affect apparent growth rates for international companies.
Accuracy Standards
ValueMarkers does not independently audit or verify the accuracy of raw financial data received from FMP. Data is sourced directly from regulatory filings (SEC, EDGAR, IFRS bodies) via FMP's ingestion pipeline. Accuracy ultimately depends on the quality of the regulatory filings themselves.
For calculated indicators (ratios, VMCI pillar scores, Value Score), ValueMarkers applies its own formulas to the raw data. These formulas are fully documented in the methodology page. If you believe a calculated indicator contains an error, it may be due to either incorrect source data from FMP or a formula discrepancy in our calculation.
We run automated data-quality checks on every nightly recalculation run, flagging stocks where key ratios fall outside plausible ranges (e.g., P/E > 10,000 or ROE < -500%). Flagged values are reviewed and corrected or excluded from scoring where appropriate.
Found a data error?
If you spot incorrect financial data, a stale filing, or a calculation that looks wrong, please report it via our contact page. Include the stock ticker, the indicator name, the value you see, and what you believe the correct value should be.
Report a Data ErrorContinue Exploring
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