1. CRSP/Compustat® Merged Database
Using the
CRSP/Compustat® Merged Database
With ts_print and cst_print

2. CCM: CRSP/Compustat Merged Database
The CCM database is the link and link-history between CRSP and Compustat data. It is packaged with Standard & Poor’s® Compustat data, reformatted into a CRSPAccess® database.
The CRSP Link provides a peerless matching of CRSP market data with Compustat fundamental data by associating identifiers that are unique to each database: CRSP’s PERMNO® and Compustat’s GVKEY®. 2

3. CCM: CRSP/Compustat Merged Database
Use of the CCM database:
Requires a current subscription to Compustat data through
Standard & Poor’s
Is used in conjunction with a CRSP stock or stock & indices
database 3

4. CCM data may be accessed in a variety of ways:
CCM: CRSP/Compustat Merged Database
CCM data may be accessed in a variety of ways:
ts_print
cst_print
SASECRSP Engine (SAS versions and higher)
Fortran-95* and C programs
* Fortran support currently on Windows and Linux operating systems only

5. Accessing CCM using the ts_print INTERFACE
Let’s first do a quick review of the ts_print interface…

6. Accessing CCM using the ts_print INTERFACE
The ts_print interface contains four screens:
Entities
Data Items
Date
Report Format and Options

7. Accessing CCM using the ts_print INTERFACE
Each ts_print tab is divided into the following sections:
Screen options
Screen-specific function buttons
Academic Clients - CRSP has a strong presence in the university market. Our subscriber base includes a number of top tier private and public universities.
Display options added for each tab
File-specific function buttons

8. Accessing CCM using the ts_print INTERFACE - Entities Tab
The Entities Tab is used to select the security, index or portfolio for which you wish to extract data. CCM data may be accessed on all keys that CRSP data is keyed plus the additional option of GVKEY
Individual securities or indices
An input file of securities or indices
An input portfolio file
A portfolio using all
available securities
CRSP has many clients that are present in the Financial Times 100 Top Schools Surveys. Both local and International schools participate in this survey.

9. Accessing CCM using the ts_print INTERFACE - Data Items Tab
Select items from the Data Item Tab. Use the Find and Add Item buttons to select and add items one at a time. In addition to daily and monthly CRSP data items, Compustat items may be selected from a drop down menu.
Select individual or groups of items.

10. Accessing CCM using the ts_print INTERFACE - Data Items Tab
Compustat items appear in one of two ways. First, those items from the drop-down menu with arrows may be selected directly from the menu.
Directly select items from the
“link” menu

11. Accessing CCM using the ts_print INTERFACE - Data Items Tab
Second, when industrial or bank file options are selected, a pop-up box appears for item searching.

12. Accessing CCM using the ts_print INTERFACE - Date Tab
While Compustat data are comprised of quarterly and annual items, reporting options are daily, weekly, monthly, quarterly or annual frequency, with either fixed date ranges or a date range relative to an event date, if entered, under the Entities tab.

13. Accessing CCM using the ts_print INTERFACE - Report Format and Options Tab
Design the layout of your report with the Report Format and Options Tab.
Assign Entities, Data Items and Date options to axes. You can choose to include headers, and add field and row delimiters. Output File Name is a required field.
Add report format specifications using the Add Options (F1) button.

14. How to Extract CRSP Prices, Compustat Earnings
Accessing CCM using the ts_print INTERFACE - Find Entities
Example 1:
How to Extract CRSP Prices, Compustat Earnings
and Sales for a Security for a Date Range

15. Prices, Volumes & Returns Entity Selection
Accessing CCM using the ts_print INTERFACE - Find Entities
Prices, Volumes & Returns Entity Selection
In this example, we extract Prices, Earnings, and Sales for Microsoft, between 1995 and 2005, reported on an annual basis.

16. Accessing CCM using the ts_print INTERFACE - Find Entities
We start by finding the PERMNO for Microsoft. Under the Entities Tab,
click on the Find button.

17. Accessing CCM using the ts_print INTERFACE - Find Entities
…and search the Company Name, PERMNO, Ticker Symbols, or CUSIP by clicking on the Locate button.
Select desired
search criteria.

18. Accessing CCM using the ts_print INTERFACE - Find Entities
Search results return to the Locate PERMNO window. Double click on the row that contains the issue or index you are interested in to return to the Entities window.

19. Accessing CCM using the ts_print INTERFACE - Find Entities
Back in the Entities window, see that the PERMNO for Microsoft has populated the text box next to the Find button. Click on the Add Entity (F1) button to enter.

20. Prices, Earnings & Sales - Data Item Selection
Click on the Data Items tab. Begin adding items by clicking on Find to bring up the item list tree. Select Monthly, Prices, End of Period.
Click on Add Item (F1).

21. Prices, Earnings & Sales - Data Item Selection
Select Compustat, Industrial Annual, locate “earnings” and double-click on Earnings Per Share (Basic), then click the Add Item (F1) button.

22. Prices, Earnings & Sales - Data Item Selection
Select Compustat, Industrial Annual, locate “sales” and double click on Sales (Net), then click the Add item (F1) button.

23. Prices, Earnings & Sales - Data Item Selection
You have selected Prices, Earnings, and Sales for IBM.
Click on the Date tab.

24. Prices, Earnings & Sales - Date Selection
In the Date Tab, select an Annual Calendar Name, a MMDDYYY Calendar Format and enter as the Fixed Date Range [1]. Click the Add Date Specification (F1) button [2]. Click on the Report Format & Options tab [3]. 3 3 1 2

25. Prices, Earnings & Sales - Report Format
Use the default axis assignments, with headers [1].
Save the output file as C:\crsp\work\pes.out [2]. Click the Add Options (F1) button [3]. 1 2 3

26. Select PROCESS SCREEN DATA.
Prices, Earnings & Sales - Report
Once all four tabs are completed, the request file can be saved and processed.
If you wish to save the request file,
Click on the SAVE FILE (F5) button at
the bottom left of the window. Save the
file to c:\crsp\work\filename.rqt.
Click on the PROCESS FILE (F7) button.
Select PROCESS SCREEN DATA.

27. Prices, Earnings & Sales - Report
When Processing is complete, click on the OK button.

28. Prices, Earnings & Sales - Report
To view your output file, click on VIEW FILE (F9) at the bottom right of the screen.

29. Prices, Earnings & Sales - Report Output
The results are saved as a text file in C:\crsp\work\pes.txt.

30. cst_print
cstprint is a command line program used to facilitate analysis of event and time series data sets using Compustat data.

31. BEFORE WE CAN GET STARTED
cstprint runs in a DOS window. For ease of use, we recommend that the screen buffer be set to 5000 lines. To check this setting and change it, if necessary, click on the upper left corner of the DOS prompt window. Select Properties Layout Screen Buffer Size Height. Change to 5000, and click OK to close the window.
Click here for menu options, then select Properties.
Academic Clients - CRSP has a strong presence in the university market. Our subscriber base includes a number of top tier private and public universities.

32. BEFORE WE CAN GET STARTED
To use cstprint, you must enter a key identifier. The default identifier to access an entity in cstprint is Compustat’s GVKEY. Other identifiers are:
PERMNO® – CRSP’s permanent and unique security identifier that follows an entity through name and CUSIP changes, mergers & acquisitions
PERMCO® – CRSP’s permanent and unique company identifier that follows an entity through name changes
CUSIP
TICKER
SIC CODE

33. BEFORE WE CAN GET STARTED
We may look up an identifier in two ways:
cstsearch – a namelist search utility that will return header information for a security
“Find” option in the ts_print interface – search on what is known to find unknown identifiers. Example: search on company name to return PERMNO, Ticker or CUSIP
CRSP has many clients that are present in the Financial Times 100 Top Schools Surveys. Both local and International schools participate in this survey.

34. FIND A GVKEY and PERMNO USING cstsearch
At a DOS prompt, type and enter:
cstsearch “microsoft”

35. FIND A GVKEY and PERMNO USING cstsearch
The results are as follows:
The GVKEY for Microsoft is 12141, the PERMNO is

36. ACCESSING cstprint
You can enter criteria for cstprint in two ways from the CRSPAccess Menu:
CRSP Command Prompt will open a DOS window and set the path for CRSP utilities to run from the command line.
CRSPAccess Menu option “cstprint” for all Compustat data

37. ACCESSING cstprint
From the CRSP Command Prompt:

38. Accessing Sales, Net Income, and Shares Data
cstprint - EXAMPLE:
Accessing Sales, Net Income, and Shares Data
Through example, we will explore various access commands and options.
Using IBM as our sample entity, we will access the following data:
current identifying information
link history
sales, net income, shares outstanding
pde data: Book Value per Share and 12-month EPS from Operations

39. cstprint - EXAMPLE: Commands for this example:
/h – Header data, current identifying information on an issue
/l – Link histories
/ia12 – Net Sales
/ia172 – Net Income
/ia25 – Shares Outstanding
PDE data:
/eb – Book Value per Share
/ep – 12-Month moving EPS from Operations
/dt YYYYMMDD-YYYYMMDD – Select the Date Range. (default is full history)

40. cstprint - EXAMPLE:
Any time you need help in referencing a command in cstprint, simply type “?” at the prompt to return quick reference pages.
Typing “?” returns quick references to commands
Academic Clients - CRSP has a strong presence in the university market. Our subscriber base includes a number of top tier private and public universities.

41. EXAMPLE: /h - Header Data from the CRSP Command Prompt
At C:\>, type cstprint.
Type /h at the option.
Keep previous data options? (y/n) Select Y to keep previous options or N to browse the newly specified data. Select N.
Enter GVKEY 6066 as the identifier. 1. 2. 3. 4.

42. EXAMPLE: Header Output
Following is a snapshot of IBM’s Compustat header data.
GVKEY DNUM CNUM CIC IPERM ICOMP SYMBOL NAME
IBM INTL BUSINESS MACHINES CORP
AVAILABLE DATA
ANNUAL QUARTERLY S&P_REL STK_OWN DUP INDUSTRY NAME
CMP PROGRAMMING,DATA PROCESS
STATE COUNTY FOREIGN
FILE ZLIST CODE CODE CODE EMPLOYER ID CPSPIN CSSPIN CSSPII IPO-Date
SPDRC SPCPRC/
/SDBT SDBTIM SUBDBT CPAPER NAICS AVAILF GICS CALENDAR RANGE
--FUNDF CANDXC ISO COUNTRY
STINC /CCNDX /INCORP

43. EXAMPLE: /l – CRSP/Compustat Link Data
Type /l as the command.
Type N to not keep previous options.
Enter GVKEY 6066 or S to use the same identifier you previously used.

44. EXAMPLE: /l - Link Output
Link data for IBM – GVKEY 6066
LNKBEGDT LNKENDDT PERMNO PERMCO LINKTYPE LINKFLAG LC BBB
lnkbegdt – first date of the link (beginning of Compustat coverage is 1950)
lnkenddt – last date of the link ( = no link enddate)
linktype – code providing detail usage of the link data available (LC = standard link where company and price match)
linkflag – 3 character flag where first position = annual data cut, second = the last monthly cut, and third = the last quarterly cut (B = PERMNO resides in both CRSP daily and monthly data sets.)

45. To access time-series data, we need to use Compustat data item
EXAMPLE: Time-series items from the Annual Industrial Files
To access time-series data, we need to use Compustat data item
numbers. These may be found in Compustat’s documentation and in
Appendices A and B in the CRSP/Compustat Merged Database
Guide.
Compustat Annual Item Item Number
Sales (Net)
Net Income (Loss)
Common Shares Outstanding

46. To browse the income statement items:
EXAMPLE: Time-series items from the Annual Industrial Files
To browse the income statement items:
At the command prompt, type, /ia12,172, 25
For this example, select Y to return Link data along with Returns.
Enter GVKEY 6066 or S to use the same identifier you used previously.

47. Type /ky permno /ia12,172, 25 at the command.
EXAMPLE: Time-series items from the Annual Industrial Files
To access data on a key other than GVKEY, use the /ky option, followed by the identifier you would like to use. For example, to access on PERMNO key:
Type /ky permno /ia12,172, 25 at the command.
Type N to not keep previous options.
Enter PERMNO 12490

48. EXAMPLE: Time-series Output
Either of the two previous screens will return the same output:
Data Fiscal Item Item Item 25
Year Yearend SalesNet NI ComShrOut …

49. EXAMPLE: Time-series Output with Date-Range Restriction
The default date range of output for cstprint is the full time-series – beginning 1950 to present. As with stkprint, the /dt option may be used to define a date range.
/dt will return:
Data Fiscal Item Item Item 25
Year Yearend SalesNet NI ComShrOut

50. EXAMPLE: Accessing PDE Data
Compustat PDE contains Prices, Dividends, and Earnings – related data.
In this example, we will access:
/ep - 12 Month moving Earnings per Share
/eb – Book Value per Share

51. EXAMPLE: Accessing PDE Data
At the command prompt:
Type /eb /ep /dt * at the command. (*this will select the date range between April 2005 and 2006).
Type N to not keep previous options.
Enter GVKEY 6066 or S to use the same identifier you previously used.

52. EXAMPLE: Accessing PDE Data
PDE data, output by month, results:
MONTH BKV OEPS12

53. ts_print and cstprint for the CCM Database: Summary
In this presentation, you have learned how cstprint and the ts_print interface are used for accessing Compustat data.
You have developed the following skills:
How to navigate ts_print and cstprint for Compustat data
How to access various types of Compustat data items
How to create and view your data requests

54. ts_print and cstprint for the CCM Database: Summary
We examined:
Header and link data
Financial data from the Industrial files
Price, Dividend, and Earnings Files
Working through examples, we employed options to:
Access entities through different keys – GVKEY and PERMNO
Specified date ranges

55. Congratulations! ts_print and cstprint for the CCM Database : Summary
You have successfully completed the CRSP Utilities for Compustat presentation!
Please refer to our tutorials and Utility Guide or contact Client Services for additional information on accessing CRSP data.
Tutorials:
Utility Manual:
Client Services :
Subscriptions: ChicagoGSB.edu
Phone:
CRSP has an esteemed Board of Directors who represent University of Chicago’s finest with respect to Finance and Economics.