How can values for the same item be different in WVB and FactSet?

For most companies, WVB and FactSet should have the same income statement figures for the top line (i.e. net sales or revenue) and the bottom line (i.e. net income or net profit). Differences are nonetheless possible for in-between income statement items such as:

• non-operating income and expenses;
• cost of goods sold (COGS);
• selling, general and administrative expense (SG&A);
• research and development (R&D);
• earnings before interest, taxes, depreciation, and amortization (EBITDA);
• earnings before interest and taxes (EBIT).

The reason for differences lies in how financial statements are standardized, WVB tends to make more adjustments than FactSet.