Labeling of estimates and change of reporting period

Consensus estimates are available for 4 reporting periods labeled FY0, FY1, FY2 and FY3. Those estimates periods do not depend on the selected company’s fiscal year end. In the first week of July, the older period is moved to the estimates history and a new future period is added.

Let’s have a closer look at this process taking an example. Between July 2016 and June 2017, the 4 estimates periods available are:

• FY0, corresponding to 2016;
• FY1, corresponding to 2017;
• FY2, corresponding to 2018;
• FY3, corresponding to 2019.

FY0 estimates are replaced by FY0 actuals depending on the company’s fiscal year end date and the financials results publication date:

• for many companies, the fiscal year begins in January and ends in December, it is therefore identical to the calendar year; in that case, FY0 corresponds to the estimates for the 2016 reporting period until final results are published, i.e. around Feb-Apr 2017; after that date, estimates become actuals and the 2016 (e) label is changed to 2016 (a);
• if the company's fiscal year ends in March, the 2016 fiscal year ends on 31 Mar 2017. FY0 estimates will be replaced by actuals after April 2017;
• if the company's fiscal year ends in June, the 2016 fiscal year ends on 30 Jun 2017. FY0 estimates will be replaced by actuals after July 2017;
• if the company's fiscal year ends in September, the 2016 fiscal year ends on 30 Sep 2016. FY0 estimates will be replaced by actuals after October 2017.

In July 2017, after the estimates period switch, FY0 becomes 2017. For some companies with a fiscal year ending in June, it is sometimes necessary to look at FY-1, hence 2016, to access their estimates until audited financials are available on the platform.