manusimidt
commented
1 year ago Hey there,
the goal of this tool is certainly not to standardize financial data. This is basically the goal of the XBRL Standard itself. How well the data is standardized solely depends on the financial regulators and the creator of the XBRL document.
I guess your question is probably: "How can I use this tool to collect and compare data from different companies".
With py-xbrl you can basically extract any information that is tagged in an XBRL or iXBRL document. If you are not familiar with XBRL, maybe have a look at this iXBRL viewer. All values that are "clickable" are tagged with XBRL and can be read in with py-xbrl https://www.sec.gov/ix?doc=/Archives/edgar/data/320193/000032019322000108/aapl-20220924.htm
i.e.: The following code extracts "Earning per share" from apple and Microsoft.
import logging
from xbrl.cache import HttpCache
from xbrl.instance import XbrlParser, XbrlInstance
cache: HttpCache = HttpCache('./cache')
xbrlParser = XbrlParser(cache)
subs = {
"AAPL": "https://www.sec.gov/Archives/edgar/data/320193/000032019322000108/aapl-20220924.htm",
"MSFT": "https://www.sec.gov/Archives/edgar/data/789019/000156459022035087/msft-10q_20220930.htm"
}
for ticker in subs.keys():
inst: XbrlInstance = xbrlParser.parse_instance(subs[ticker])
for fact in inst.facts:
if fact.concept.name == 'EarningsPerShareBasic':
print(f"On {fact.context.end_date} {ticker} had an EPS of {fact.value}")output:
On 2022-09-24 AAPL had an EPS of 6.15
On 2021-09-25 AAPL had an EPS of 5.67
On 2020-09-26 AAPL had an EPS of 3.31
On 2022-09-30 MSFT had an EPS of 2.35
On 2021-09-30 MSFT had an EPS of 2.73
On 2020-09-26 AAPL had an EPS of 3.31With py-xbrl you can extract thousands of different facts from thousand of companies directly from the source (the actual financial report from the company) instead of going through an API.
firmai
rayniervanegmond
How can this be used to develop standardised financial data, the tool looks promising but I am struggling to find good example, thanks so much for your work :)