Corporate Webpages Interactive Data Corporation
At the time of this writing, the market has been down for five
straight days, and the Dow appears perilously close to crossing
back into the 9000's. This leads many to believe "all the
money" is now in the markets, and from here on in it will be
either flat or back into bear mode. As Zenith lately has tried
to pick "buy" stocks, they become harder and harder to find on a
technical basis. By relaxing our "rule" to try to pick stocks
with an average daily volume of greater than 300,000 shares, we
have a better chance of finding "overlooked" stocks. They don't
make as liquid trading stocks, but relaxing the daily volume to
200,000 shares as in this case, helps us to find the better values.
A stock fitting into this category is Interactive Data
Corporation (IDC).
IDC has some interesting things going on as indicated by a
recent 20% jump in price in one day in mid-January, which is
what brought it to our attention. While the company has a
steady stream of public relations news releases about new
products, upgrades, and acquisitions, its owners would still
like to unload it, and they have made their wishes known.
Pearson PLC, a British company that publishes Penguin Books,
which controls IDC as the largest stockholder, wants to sell its
$1.5 billion stake in Interactive Data Corporation. Bloomberg,
Thomson Reuters, and McGraw Hill are all interested in a
friendly takeover, and could start a bidding war.
Interactive Data markets data services under some very
well-known names, upon some of which we rely, from ESignal,
Quotrek, Quote.Com, Futuresource, Marketwatch.Com, Data
Broadcasting, and many others. We found ESignal one of the
cheapest and most reliable data sources save for the fact that
they do not market ASCII end-of-day and historical data files
without what we regard as excessive charges and the need for
third-party software. Thus ESignal is more of a "standalone"
service, at least in our opinion, although it does interface
with some popular trader software applications. For us, it has
been "useless," but for many others it is "the source."
To that effect, IDC "partners" with many other service providers
on the internet, especially discount brokers. The business
seems relatively secure and stable even in hard economic times,
and might be considered a "defensive stock" paying a substantial
dividend of around 2.4%. The company has no long-term debt.
IDC had its origins in the bankrupt Financial News Network
(FNN), a cable outlet company.
Because we believe too many stock options were supplied to a
couple of executives, we give the company a negative on
corporate governance.
The company is liked by three of our favorite researchers,
Market Grader, Street.Com, and Jefferson. Still, it came out
with a marginal score in our decision matrix, just slightly
biased to the buy side. One of the reasons is that this company
has been operating in a trading range (see "Channel" section)
for quite a long period of time, and recently broke out of that
channel to the upside. Usually, in such situations, we find
that there is strong tendency to pull back into the channel, and
our friend Jim Cramer warns to stay clear of buyout rumors if
you want to avoid undue risk.
01-28-2010: Interactive Data Corporation (IDC): Buyout Rumors Cause Quantum Share Price Jump
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
Company Profile
Company History
News
Comparison with Peers
Bond Issue
Zenith Index
Financial Statements
Financial Ratios
Market Grader
Intrinsic Value (Disc. CashFlow)
Intrinsic Value (Proj. Earnings)
Scout Stock Rating
Projected Earnings
Research Reports
Analysts' Opinions
Insider Activity
Institutional Activity
Sentiment
Short Interest
Stock Report
Management's Discussion
Moving Average Chart
Right Time Study
Channel Potential
Intraday Chart
Stock Fetcher
Point & Figure Chart
Wall Street Analyzer
Marketspace Chart
Time Series Forecast
Neural Network Prediction
Stock Options
Ultimate Trading Systems
Recommendation
Corporate Wepages
Company Profile |
Company History |
News |
Comparison |
Similar Companies Performance:
Bond Issue |
Zenith Index |
Interactive Data Corporation (IDC ) Sector: Technology
32 Crosby Drive Industry: Information & Delivery Servic
Bedford, MA 01730-1402 Exchange: NYSE
Interactive Data Corporation provides financial market data,
analytics, and related services to financial institutions, active
traders, and individual investors worldwide. The company-Ęs offerings
enable customers to support their portfolio management and
valuation, research and analysis, trading, sales and marketing, and
client service activities. The company operates in two segments,
Institutional Services and Active Trader Services. The Institutional
Services segment offers interactive data pricing and reference data;
interactive data real-time services; and interactive data fixed
income analytics. This segment primarily targets financial
institutions, such as banks, brokerage firms, mutual fund companies,
hedge funds, insurance companies, and money management firms, as
well as financial information providers, information media
companies, third-party redistributors, and outsourcing
organizations. The Active Trader Services segment involves in
eSignal business, which provides active traders, individual
investors, and investment community professionals with real-time
financial market information and access to decision-support tools to
assist in their analysis of securities traded on various markets.
This segment primarily targets active traders, individual investors,
and investment community professionals. Interactive Data Corporation
markets and licenses its services either by direct subscriptions or
through third-party business alliances. The company was founded in
1992 and is headquartered in Bedford, Massachusetts. Interactive
Data Corporation is a subsidiary of Pearson plc.
Last Trade: 29.05 52-Week Range: 29.41 - 20.19
Trade Date: 01-27 Avg. Volume: 189,586 Shares
Index Membership: N/A Employees: 2,400
Corporate Governance:
Interactive Data Corporation's Corporate Governance Quotient (CGQ-«)
as of 3-Jan-10 is better than 57.3% of Russell 3000 companies and
71.3% of Media companies.
EPS: 1.55 Dividend Amount: $ 0.80 Yield: 2.80%
Ex-Dividend Date: 04-Dec-09 Mkt Cap: $ 2,740,000K
Payout Ratio: 49.00%
Last Split Factor (new for old): N/A Split Date: N/A
Key Statistics:
Enterprise Value: $ 2,410,000K Revenue (ttm) : $ 757,210K
Gross Profit: $ 508,660K
Earnings before Income Tax, Depreciation and Amortization: $ 270,190K
Enterprise Value/Revenue (ttm): 3.19 Revenue per Share: $ 8.07
Enterprise Value/EBITDA (ttm): 8.93 Qtrly Rev Growth (y to y): 1.90%
P/E Ratio (fwd projected): 19.53 P/E Ratio (current): 18.83
P/E Growth Ratio (5 yr expected): 1.99 Operating Margin: 28.32%
Price/Sales Ratio: 3.57 Profit Margin: 19.58%
Price/Book Value: 2.53 Book Value: $ 11.34/sh.
Return on Assets: 10.93% Net Income Avl to Common: $ 148,290K
Return on Equity: 14.48% Diluted Earnings/Share: $ 1.55
Qrtly Earnings Growth (yoy): 17.50%
Balance Sheet Items : Cash Flow Items (ttm):
(most recent qrtr) (trailing 12 mo.)
Total Cash: $ 290,230K Operating Cash Flow:$ 196,080K
Total Debt: $ 0K Lvgd Free Cash Flow:$ 114,370K
Total Debt/Equity: 0.00
Total Cash/Share: $ 3.08
Current Ratio: 3.23
Share Statistics: Stock Price History:
Shares Outstanding: 94,280K Stk 52-Week Change: 22.90%
Float: 36,290K S&P 500 52-Wk Chng: 29.14%
Sh. Short % of Float: 0.90% 50-Day Moving Avg: 26.14
Short Ratio: 2.30 200-Day Moving Avg: 25.15
% Held by Institutions: 35.80% Beta: 0.54
% Held by Insiders: 61.68%
Analysts' Estimates: Cur. Qtr Next Qtr Cur. Year Next Year
___________________________ Dec-09 Mar-10 Dec-09 Dec-10
Average Earnings Estimate 0.37 0.34 1.45 1.49
Average Revenue Estimate 190M 191M 753M 787M
Factors Comparing This Company to Its Industry Leader (1.0 = Average):
Long Term EPS Growth Rate (5 yr): 0.000 EPS Growth (Qrtly YoY): 0.511
PEG Ratio (ttm, 5 yr expected): 0.000 P/E Ratio (ttm): 0.710
Revenue Growth (Qrtly YoY): 0.000
Annual Income Statements: All numbers in thousands)
Period Ending 31-Dec-08 31-Dec-07 31-Dec-06
Total Revenue 750,541 689,610 612,403
Cost of Revenue 241,880 223,987 198,538
Gross Profit 508,661 465,623 413,865
Operating Expenses:
Research & Development 0 0 0
Selling, General & Administrative 244,248 240,520 221,787
Non-Recurring Expenses 0 0 0
Other Operating Expenses 54,730 49,483 47,513
Total Operating Expenses 0 0 0
Operating Income or Loss 209,683 175,620 144,565
Income from Continuing Operations:
Total Other Income/Expenses Net 7,568 9,025 6,366
Earnings Before Interest & Taxes 217,251 184,645 150,931
Interest Expense 0 0 0
Income Before Taxes 217,251 184,645 150,931
Income Tax Expense 74,582 58,662 57,569
Minority Interest -21 0 0
Net Income from Continuing Op.s 142,648 125,983 93,362
Non-recurring Events:
Discontinued Operations 0 0 0
Extraordinary Items 0 0 0
Effect of Accounting Changes 0 0 0
Other Items 0 0 0
Net Income 142,648 125,983 93,362
Preferred Stock & Other Adjustmnts 0 0 0
Net Income Avail To Common Shares 142,648 125,983 93,362
Quarterly Income Statements: All numbers in thousands)
Period Ending 30-Sep-09 30-Jun-09 31-Mar-09 31-Dec-08
Total Revenue 192,092 184,992 186,034 194,092
Cost of Revenue 60,347 66,404 60,425 59,901
Gross Profit 131,745 118,588 125,609 134,191
Operating Expenses:
Research & Development 0 0 0 0
Selling, General & Adminis. 57,387 52,884 62,647 63,147
Non-Recurring Expenses 0 0 0 0
Other Operating Expenses 15,927 15,120 14,630 13,953
Total Operating Expenses 0 0 0 0
Operating Income or Loss 58,431 50,584 48,332 57,091
Income from Continuing Operations:
Total Other Income/Expenses Net 335 514 646 1,360
Earnings Before Int. & Taxes 58,766 51,098 48,978 58,451
Interest Expense 0 0 0 0
Income Before Taxes 58,766 51,098 48,978 58,451
Income Tax Expense 15,636 17,919 16,930 18,322
Minority Interest 0 -172 0 -21
Net Income from Continuing Op.s 43,130 33,007 32,048 40,108
Non-recurring Events:
Discontinued Operations 0 0 0 0
Extraordinary Items 0 0 0 0
Effect of Accounting Changes 0 0 0 0
Other Items 0 0 0 0
Net Income 43,130 33,007 32,048 40,108
Preferred Stock & Other Adj.s 0 107 -107 0
Net Income Avail To Common Shs 43,130 33,114 31,941 40,108
Annual Balance Sheets: All Numbers in Thousands
Period Ending 31-Dec-08 31-Dec-07 31-Dec-06
Current Assets:
Cash & Cash Equivalents 154,162 205,470 152,449
Short Term Investments 74,616 73,465 43,296
Net Receivables 115,563 117,708 106,205
Inventory 0 0 0
Other Current Assets 16,039 18,523 13,840
Total Current Assets 360,380 415,166 315,790
Long-Term Investments 0 0 0
Property, Plant & Equipt 109,210 93,832 81,988
Goodwill 550,282 554,842 536,049
Intangible Assets 157,723 159,869 168,969
Accumulated Amortization 0 0 0
Other Assets 4,930 4,517 1,008
Deferred Long Term Asset Charges 0 0 0
Total Assets 1,182,525 1,228,226 1,103,804
Current Liabilities:
Accounts Payable 127,383 187,239 123,038
Short/Current Long Term Debt 0 0 0
Other Current Liabilities 34,106 30,524 27,343
Total Current Liabilities 161,489 217,763 150,381
Long Term Debt 0 0 0
Other Liabilities 21,576 17,154 6,065
Deferred LT Liability Charges 39,057 29,785 35,773
Minority Interest 596 0 0
Negative Goodwill 0 0 0
Total Liabilities 222,718 264,702 192,219
Stockholder Equity:
Misc. Stocks Options Warrants 0 0 0
Redeemable Perferred Stock 0 0 0
Preferred Stock 0 0 0
Common Stock 1,027 1,015 993
Retained Earnings 194,733 113,595 96,230
Treasury Stock -190,000 -137,506 -105,690
Capital Surplus 976,651 941,265 887,071
Other Stockholder Equity -22,604 45,155 32,981
Total Stockholder Equity 959,807 963,524 911,585
Net Tangible Assets 251,802 248,813 206,567
Quarterly Balance Sheets: All Numbers in Thousands
Period Ending 30-Sep-09 30-Jun-09 31-Mar-09 31-Dec-08
Current Assets:
Cash & Cash Equivalents 190,459 174,933 159,537 154,162
Short Term Investments 99,766 94,565 84,538 74,616
Net Receivables 132,709 127,145 134,305 115,563
Inventory 0 0 0 0
Other Current Assets 21,236 19,186 18,781 16,039
Total Current Assets 444,170 415,829 397,161 360,380
Long-Term Investments 0 0 0 0
Property, Plant & Equipt 112,143 110,601 107,448 109,210
Goodwill 566,714 565,674 547,723 550,282
Intangible Assets 138,409 143,574 148,674 157,723
Accumulated Amortization 0 0 0 0
Other Assets 5,036 4,944 4,337 4,930
Deferred LT Asset Charges 43,620 43,097 40,933 34,106
Total Assets 1,266,472 1,240,622 1,205,343 1,182,525
Current Liabilities:
Accounts Payable 94,040 94,631 104,958 127,383
Current Portion LT Debt 0 0 0 0
Other Current Liabilities 0 0 0 0
Total Current Liabilities 137,660 137,728 145,891 161,489
Long Term Debt 0 0 0 0
Other Liabilities 26,586 26,734 25,213 21,576
Deferred LT Liab. Charges 33,412 38,281 38,571 39,057
Minority Interest 0 0 458 596
Negative Goodwill 0 0 0 0
Total Liabilities 197,658 202,743 210,133 222,718
Stockholder Equity:
Misc. Options, WarrantS 0 0 0 0
Redeemable Perferred Stock 0 0 0 0
Preferred Stock 0 0 0 0
Common Stock 1,042 1,034 1,031 1,027
Retained Earnings 265,027 240,786 226,601 194,733
Treasury Stock -208,736 -197,405 -190,000 -190,000
Capital Surplus 1,007,278 994,506 988,446 976,651
Other Stockholder Equity 4,203 -1,042 -30,868 -22,604
Total Stockholder Equity 1,068,814 1,037,879 995,210 959,807
Net Tangible Assets 363,691 328,631 298,813 251,802
Annual Cash Flow: All Numbers in Thousands
Period Ending 31-Dec-08 31-Dec-07 31-Dec-06
Net Income 142,648 33,007 93,362
Operating Activites:
Depreciation 55,378 50,073 47,756
Adjustments to Net Income 13,015 2,582 10,165
Changes in Accounts Recv'bls -1,839 -8,626 -14,869
Changes in Liabilities -12,628 22,201 39,475
Changes in Inventories 0 0 0
Changes in Other Op'ing Actv's -332 -7,651 -2,324
Total Cash Flow fr Operations 196,242 184,562 173,565
Investing Activities:
Capital Expenditures 0 -36,809 -38,999
Investments -1,787 -1,787 -30,723
Other Cash Flows fr Investing -43,666 -24,473 -33,244
Total Cash Flows fr Investing -90,962 -92,005 -90,763
Financing Acitivies:
Dividends Paid 0 -47,072 -74,581
Sale or Purchase of Stock -35,484 -403 -12,076
Net Borrowings 0 0 0
Other Cash Flows fr Financing 2,020 4,171 1,640
Total Cash Flows fr Financing -137,060 -43,304 -85,017
Effect of Exchange Rate Change -19,528 3,768 7,296
Change in Cash & Cash Equiv.s 51,308 -51,308 53,021
Quarterly Cash Flow: All Numbers in Thousands
Period Ending 30-Sep-09 30-Jun-09 31-Mar-09 31-Dec-08
Net Income 43,130 33,007 32,048 40,108
Operating Activites:
Depreciation 16,456 15,638 15,067 14,145
Adjustments to Net Income -3,708 2,654 4,767 3,460
Changes in Accounts Recv'bls 0 0 0 -1,839
Changes in Liabilities 0 0 0 -12,628
Changes in Inventories 0 0 0 0
Changes in Other Oper'g Acts -5,475 -2,177 -15,096 16,354
Total Cash Flow f Operations 50,403 49,294 36,786 59,600
Investing Activities:
Capital Expenditures 0 -9,752 -5,736 -22,880
Investments -5,710 -10,586 -10,370 -20,450
Other Cash Flows fr Investing 0 -3,231 0 -16,328
Total Cash Flows fr Investing -15,379 -23,569 -16,106 -59,658
Financing Acitivies:
Dividends Paid 0 -37,615 0 -14,054
Sale or Purchase of Stock -4,131 14,991 -13,074 -7,374
Net Borrowings 0 0 0 0
Other Cash Flows fr Financing 0 1,173 134 42
Total Cash Flows fr Financing -21,677 -21,451 -12,940 -21,386
Effect of Exchange Rate Chg 2,179 11,122 -2,365 -9,225
Change in Cash & Cash Equiv. 15,526 15,396 5,375 -30,669
IDC Interactive Data Corporation [Indices near +3.0 or near zero,
or < zero bear special attention.]
P/E Ratio Tests:
Current P/E Ratio < 28? 1.4870 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 3.0000 Forward P/E Ratio < 28? 1.4337
Sales Tests:
Price/Sales Ratio < 2.3? 0.6443 Inventory/Sales < 5%? 1.0000
Sales < $1 billion? 1.3324 Operating Margin < 7.5%? 0.2648
Balance Sheet Tests:
Debt/Equity < 0.40? 1.0000 Long-Term Debt Service: 3.0000
LTD Being Reduced? 1.0000 Short-Term Debt Service: 3.0000
Current Ratio > 2? 1.6135 Working Capital >= 1.5? 0.6199
Leverage Ratio < 20%? 3.0000 Debt / Assets < 1? 1.0000
Quick Ratio > 1? 2.3476 Inventory Turnover > 1? 1.0000
Shares Out Decreasing? 1.8000 Market Cap.> 1.5 Billion? 0.5474
Profit Margin > 7.5%? 2.6106
Income Tests:
Dividend Yield > 2.0%? 2.1429 EPS Annual Growth > 10%? 0.0000
Enterprise Value/Revenue: 2.1267 EPS 5-yr Growth > 20%? 0.0000
Enterprise Value/EBITDA: 1.2753 EPS Growth Consistent? 2.4000
EPS Qrtly Growth > 10%? 1.7500 Collection < 45 days? 0.8007
Rev. Qtrly Growth > 15%? 0.2850 Gross Pft/Cur. LTD < 1? 3.0000
EPS Annual Growth > 10%? 0.0000 Borrowing Int. Rate< 6%? 1.0000
Stock Performance Tests:
Volatility > 25%? 1.4871 % Held by Insiders < 5%? 0.0811
Beta > 1.25? 0.4320 % Held by Institut. < 50? 1.3966
50 Da MA > 200 Da MA? 0.1022 % Held by Institut. > 30? 1.1933
52-Wk Change vs. S&P 500: 1.9428 Short Ratio > 5? 0.4600
Price/Book Value < 3? 1.4700 Short % of Float > 20? 0.0450
Return on Assets > 17%? 0.6429 Average Volume > 100,000? 1.8959
Cash Flow Tests:
Oper. C.F. > Lever'd C.F: 1.7144 Positive Free Cash Flow? 1.0000
Positive Oper. Cash Flow? 1.0000 Price to C.F./sh. Ratio: 1.7112
Cash Flow / Assets >.10? 0.9031
IDC Interactive Data Corporation Overall Zenith Index: 1.3267
Financial Statements |
Financial Ratios |
. . . . . . . . . . . . 1 = Highest , 10 = Lowest
Market Grader |
Intrinsic Value |
Intrinsic Value by Discounted Cash Flow Method:
Intrinsic Value |
Intrinsic Value by Projected Earnings Growth Method:
Stock Scout |
We find "Scout" to be a bit biased toward the high end, so anything under a 6 is considered a negative, 6 and above, positive.
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Orders to Buy or Sell:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Stock Report |
Management's Discussion of Results of Operations Excerpts |
Moving Average Chart |
Right Time Study |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for Interactive Data Corporation:
Symbol? IDC
Total Months Available: 85
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
27.30 20.19 25.72 21.96 29.41 24.72
RANGE = 29.41 TO 20.19 Close = 28.87
CHANNEL = 25.72 TO 24.72 Degree = 1
Volatility = 3.46% Index = 0
Intraday Chart |
20 Days:
Stock Fetcher |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
The "ultimate systems" are inconclusive, giving no clear confirmed signals.
The corresponding trades for the above chart are shown in tabular form below.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | - 1 |
| Industry | - 1 |
| Bond Issue | 0 |
| Zenith Index | + 1 |
| GAAP vs. non-GAAP Earnings < 1% | + 1 |
| Cash Flow | + 1 |
| Ratios | + 1 |
| Market Grader | + 1 |
| Intrinsic Value DCF | + 1 |
| Intrinsic Value DDM | - 1 |
| Stock Scout | + 1 |
| Projected Earnings | + 1 |
| Research Reports | 0 |
| Analysts | - 1 |
| Executive Perquisites | - 1 |
| Insider Activity | - 1 |
| Institutional Activity | - 1 |
| Management Reporting | + 1 |
| Short Interest | - 1 |
| Sentiment | + 1 |
| Standard & Poor's | - 1 |
| Moving Average | + 1 |
| Right Time Study | - 1 |
| Stock Fetcher | - 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | + 1 |
| Time Series Chart | - 1 |
| Neural Network | 0 |
| Stock Options | + 1 |
| Ultimate Trading Systems | 0 |
| Total | + 2 |
Place 1,030 shares of Interactive Data Corporation (IDC) on the Active List.
