Morningstar-fundamental-data-Fair-Value-etc

Yes, I'd recommend you consider other suggestions straight away (subscription based):

EODHD
Fundamental Data - 100+ fundamental items (balance sheet, income statement, cash flow) for U.S. stocks.
https://www.wealth-lab.com/extension/detail/EODHD

YCharts via Fundamental extension
Get access to quarterly historical fundamental items for U.S. companies using YCharts official API
https://www.wealth-lab.com/extension/detail/Fundamental

As for Morningstar, implementing such data feed would require some usual effort to reverse engineer the way the historical event items are delivered - without a warranty that it would work because of protection. We'd consider this only if it's superior in some aspect to the sources already supported by WL e.g. EODHD, Norgate, YCharts.

Thanks for the suggestions.
I had a trial on Norgate for fundamental data.
A "quick start" documentation from them would have been handy.
Tried to find out myself but in that short week I had no feeling this was a must-have.

The difference between morningstar and EODHD or Ychart is that morningstar provides their unique rating and valuation model.

I'm a bit skeptical as different vendors look to introduce their unique features. But let's see if your idea has potential with the community. I've tagged the topic as #FeatureRequest. Since you started the topic you can upvote it from this page:

https://www.wealth-lab.com/wishlist

The other possible way that remains is through concierge support where the queue typically moves faster:

https://www.wealth-lab.com/Support/Concierge

QUOTE:
I'm a bit skeptical as different vendors look to introduce their unique features.

I am too; the rating is just an "unknown" black box. The only time I use critics' ratings is in stock screening to determine if a stock should be included in my WL datasets or not.

I would recommend subscribing to the fundamentals you're most interested in and making a ScottPlot of them over Price (for example, P/E Ratio vs Price) to determine if the current Price is a good value relative to that fundamental.

@superticker: the rating is indeed some kind of a black-box that counts also for a buy or sell advice from any analyst.

Morningstar tries to make it as objective as possible. Something we also try to do with technical analysis.

"The rating is determined by three factors: a stock's current price, Morningstar's estimate of the stock's fair value, and the uncertainty rating of the fair value. The bigger the discount, the higher the star rating. Four- and 5-star ratings mean the stock is undervalued, while a 3-star rating means it's fairly valued, and 1- and 2-star stocks are overvalued. When looking for investments, a 5-star stock is generally a better opportunity than a 1-star stock. "

"...the Fair Value estimate based on how much cash we think the company will generate in the future. This long-term, intrinsic value estimate contrasts with the more volatile, market price."

The future is not certain, so Morningstar assigns a Fair Value Uncertainty rating to account for possible scenarios affecting a company’s future cash flows. The uncertainty rating appears as the thickness of a range of bands."

I must admit that at least for the stockmarket this works quite well:
https://www.morningstar.com/market-fair-value

QUOTE:
I would recommend subscribing to the fundamentals you're most interested in and making a ScottPlot of them over Price (for example, P/E Ratio vs Price) to determine if the current Price is a good value relative to that fundamental.

In fact, I hope to avoid all those many ratio's (*) and extra work/calculations by using 1 rating from a data vendor who is reliable. Let them do the fundamental thinking.
We'll do the technical indicator stuff. :-)

* ratio's which can be quite volatile and vulnerable to exceptional events that destroy the curve.

I would love to see the historical EPS on a chart because there is a big correlation between that and the stock price.

In fact many years ago in Belgium there was an analyst who just EPS and the EPS growth to make a channel for the coming years in which the stock probably would move. Below that channel was undervalued and above overvalued.
It worked very well... for growth stocks.

It seems hard to get good historical EPS data for a reasonable price.
Even then, there is more than EPS to make a fundamental case.

@Eugene: do you mean it is possible - trough WL service - to get that rating (which is subscription based) into WL?

Can you even store that daily or weekly for let say Nasdaq en S&P500 ?
So after a while, there is historical data?

QUOTE:
I would love to see the historical EPS on a chart because there is a big correlation between that and the stock price.

You can plot P/E Ratio over time now with WL using ...

CODE:
FundamentalRatio(BarHistory source, string numerator, string denominator, int sumLastNItems, int overNMonths, double numeratorMultiplier);

and Zacks Earnings (the free version) provides excellent EPS data. I use it myself.

But plotting P/E Ratio vs Price (using ScottPlot) might be more revealing. Also, ScottPlot has a simple Statistics class that will do simple linear regression.

For any models requiring more than two dimensions, you'll want to use a stat package instead for fitting multi-variant models. But you can use WL to collect the data and write it to disk for the stat package.

If you're going the rely on some critic's rating, then I would buy a subscription to it. But I've had mixed results with critic ratings. Perhaps my trading style doesn't match up with theirs.

QUOTE:
@Eugene: do you mean it is possible - trough WL service - to get that rating (which is subscription based) into WL?

I answered this in Post #2 and Post #4. It depends on 1) ability to reverse engineer Morningstar's authentication and protection, and 2) user demand (this is a #FR now) or one's willingness for concierge support. Sometimes a protection may be too sophisticated and we'd reject, the other time it may require that we build a tailored solution (which implies concierge support).

QUOTE:
Can you even store that daily or weekly for let say Nasdaq en S&P500 ?
So after a while, there is historical data?

No, it doesn't make sense to store snapshots of values like that which can disappear, not being backed by a source for backfill.

QUOTE:
it doesn't make sense to store snapshots of values like that which can disappear,

This is the real problem. If the data feed (Morningstar in this case) isn't providing historical data, then there's really no way to backtest it. And if you can't backtest it, then Morningstar's ratings may be totally bogus for your trading style, and you wouldn't even know it.

A non-backtestable data source sounds like a bad idea to me.

Maybe there's another critic rating source that provides historical data that can be backtested? (Or maybe there's a reason why these critics don't want their ratings backtested?)

Looking into the API responses as a free user, it appears that it returns only 1 year of quarterly financials data, several years of valuation items but as annual series only. This renders the free event provider meaningless.

MSN too had had a unique rating/valuation model called StockScouter (for which we developed a WL6 scraper/parser) only to have taken it down years later. I'd not hope this feature request to raise to the top of our wishlist anytime soon. Is your interest in Morningstar's fundamental data - in particular, that valuation model - strong enough to consider opting for a concierge support job?

At any rate, before going any further we'd need a MS paid subscriber to gracefully share his credentials with us to check whether that would unlock the full data range for export.

@eugene: sure, it is a paid service, we cannot grab their data.
I will take a subscription before year end.

To be sure, my goal is not to get the usual fundamentals like EPS, dividend.. but especially the rating and the valuation.

Don't think Morningstar provides historical data/charts of their model and ratings
so backtesting will not be posssible. But I have enough info with the current values.