How it works

The gap

The gap is how far a company's price sits above or below its fair value. A gap of +16% means the price is 16% above fair value. A gap of −20% means it is 20% below. Every page is about one gap.

Fair value

A company's fair value is its earnings per share, or a similar per-share figure, times the multiple its own history points to. Recent years count for more than old ones. The numbers are rebuilt every night.

When there is no number

Some companies show no fair value, because the model does not apply to them. For those, DollarFlow shows no number and does not guess.

What each gap is set against

A gap says little alone, so each one is set against three things.

• Its own history, which is how far the price has stood from fair value in the past.
• Its closest peers, which are the companies most like it, and where its gap ranks among theirs.
• The whole market, which is every company with a fair value, and where its gap ranks among them.

The pages

Valuation is one company, with its price, its fair value and the three comparisons. Peers sets it beside its closest peers. The Universe lists every company with its gap. To begin, type a company on the home page.

How deep it goes

Every page opens on the answer and goes deeper in two steps. Choose Core, Expanded or Complete on any page of the market.