The value of a security on the day of purchase or the acquisition value
Capital Expenditure (CapEx):
Carbon Risk Rating (Sustainalytics):
The sum of the after-tax profit of a business plus depreciation and other non-cash charges.
CBOE Volatility Index:
Compound Annual Growth Rate:
Debt to Capital:
Debt to EBITDA:
Discounted Cash Flow (DCF):
Earnings Per Share (EPS):
“Earnings Before Interest, Taxes, Depreciation, and Amortization”
EBITDA to Interest:
EBITDA divided by cash interest expense is a measure used to assess credit quality.
Carbon intensity expressed as the issuer’s total carbon emissions per million USD of revenue as a proxy of the carbon efficiency per unit of output.
Environmental, Social and Governance (ESG):
Free Cash Flow
Gross Domestic Product (GDP):
Gross of Fees:
Is the total rate of return on an investment before the eduction of any fees or expenses.
Initial Public Offering (IPO):
Margin of Safety:
Moody’s Credit Ratings (Source: Moody’s):
P/E 10 Ratio:
A valuation measure, generally applied to broad equity indices, that uses real per-share earnings over a 10-year period. The P/E 10 ratio uses smoothed real earnings to eliminate the fluctuations in net income caused by variations in project margins over a typical business cycle. The P/E 10 ratio is also known as the Cyclically Adjusted Price Earnings (CAPE) ratio or the Shiller P/E ratio.
Price-to-Cash-Flow Ratio (P/CF):
Is the current stock price divided by our estimate of full value.
Quantitative Easing (QE):
Return on Equity (ROE):
Return on Invested Capital (ROIC):
Russell 1000 Growth Index
Russell 2000 Index:
The most commonly used benchmark for measuring the performance of small-cap stocks.
Russell 2500 Index:
Russell 3000 Value Index:
Russell Midcap Index:
S&P 500 Index:
S&P Earnings and Dividend Rankings:
S&P 500 Growth Index:
Scope 1 Direct Emissions (tCO₂e):
Scope 2 Indirect Emissions (tCO₂e):
Standard & Poor’s Credit Ratings (Source: Standard & Poor’s):
This statistical measurement of dispersion about an average, depicts how widely a mutual fund’s returns varied over a certain period of time. Investors use the standard deviation of historical performance to try to predict the range of returns that are most likely for a given fund. When a fund has a high standard deviation, the predicted range is wide, implying greater volatility.
10-Year U.S. Treasury Yield:
The return on investment, expressed as a percentage, on the U.S. government’s debt obligations. The higher the yields on 10-, 20-, and 30-year Treasuries, the better the economic outlook.