2. The most comprehensive program for NAIC analysis
Using the SSG Graph
The most comprehensive program for NAIC analysis

3. Load a Company
Use the Load Company button to load a company from the database.
For NAIC Datafiles also use Load Company and then the Import NAIC button.
For other formats review the manual or Help file.
Major operations for Stock Analyst are placed in the ‘fixed’ toolbar. Loading a company from the SA DB (database) is as simple as clicking the ‘Load Company’ button. ‘New Company’ allows you to enter data for a company not yet in the SA database.
SA has the most importing formats. These include:
BIN - binary format for exchanging data between SA users SSG - the standard NAIC format (S&P datafiles) NAIC’s PERT file format (discontinued in SR 5)
ZIP - to import directly from compressed NAIC data diskettes Prospector link - to load files identified with the screening program
ToolKit users can export data in SSG format, which is compatible with SA.
Because SA uses the most amount of data, exporting/importing data in other than BIN format will lose some data.

4. SSG Graph The selected company is displayed: Revenue - blue
Pre-tax income - green
EPS - magenta
Price Bars - blue
Trend and Projection Lines - red
Price Zones - 3 colors buy/hold/sell
The user can select the opening window for the company in the menu item - Options-Global Options. Any company window (graph, analysis, PMG, PERT, etc.) could be set to open first.
Note that the price zones (buy, hold, sell) are accurately displayed after the analysis (back side of the SSG) is done and price zone ranges are determined.
Data labels are movable.

5. Company Toolbar A Key to Stock Analyst
Left side - buttons for major company windows
Right side - selections for the displayed window
a.k.a. Floating Toolbar, as it can be placed anywhere
This toolbar can be moved to any area of the screen. Point and click the mouse to pick it up by the title bar and drag it to the desired location. It can also be turned on/off by the hot key Control-T (when a company window is displayed).
Using the floating toolbar takes you to the main windows for the company with one button click. All these functions are also available from the drop-down menus.
Buttons on the right side are functions available for the company window currently displayed. These buttons change when the company window displayed changes.

6. Computer Projections Set computer projections for sales and EPS
Choose from Least Squares or Mid Point
If data is consistent from year to year, the mid-point and least squares growth calculations will be the same. In these instances, the two projections will be on top of each other, effectively showing only one line.
Computer calculated projections should be used only as a guide or starting point for using judgment. They provide the first step to helping you determine future EPS growth.

7. Outliers includes/excludes data point click on/off year label
Data outside of normal bounds can be excluded from the least squares calculation.
Although SA allows you to exclude years of data to help gauge historical growth, a better decision may be to use the User Trend line (next slide) to measure the years of data you consider appropriate. In this way you can leave in the historical lines and set the trend.
alters computer calculations

8. User Projection Lines
Display/ remove sales and EPS trend and projection lines
A ruler to apply your judgment to growth
Growth be entered from the keyboard
The initial placement of the projection lines is based on the computer calculated growth. Users should move the line ends to measure or set their desired growths.
As an alternative, specific growth rates can be entered into the SSG Graph Options window. (Note the button choice on the floating toolbar.)
The best approach to developing trend lines is to consider how you drew these lines using the manual (pen and paper) method. You placed a ruler on the paper, adjusted to the slope of the data, and drew a line. This concept of “drawing” a line is retained in SA.
The placement of the trend and projection lines can be adjusted by clicking the end points of the line (markers) and dragging.
Historical data can be used as a basis for drawing trend lines. Usually the last 3-5 years are most meaningful and are used as a basis for analysis.

9. Revenue Based EPS (STB’s Preferred Procedure)
Is your EPS projection reasonable?
Shows historical data
R buttons reset to computer values
The NAIC Preferred Procedure is called the Revenue Based EPS projection method in Stock Analyst. This uses the projection of revenues or sales as a basis for future EPS growth projections. The justification for this method is that revenues can generally be projected more accurately than EPS. Other factors like taxes, profitability (pre-tax income on sales), etc. enter the calculation for determining future EPS.
The user can do” what if” analysis to gauge the sensitivity of future EPS to changes in taxes, profitability, etc. As a variable is selected from the left grid, the right grid shows up to 10 years of historical data as a reference for selecting values. The R buttons reset values to computer-calculated averages based on the last 5 years of data.

10. Recent Quarterly Data Click on/off Always prints Shows
latest quarterly results
calculated growths R2
scales
Additional information includes the date of the latest quarterly data, pre-tax income quarterly data, and least squares and mid-point calculated growth figures with R2 (consistency) and scale factors for each of the data plots.
Growth figures are based on calculations from historical data and can be used as a reference for the user’s own projection.
Note that scale factors are set automatically to fit the data to the graph and (generally) place revenue at the top, pre-tax income in the middle, and EPS at the bottom. If desired, the user can select specific scales in the ‘Add Judgment’ window.

11. Selected Graphics For advanced users
Select from drop-down lists at the top
Graph any 3 of 24 financial indicators
Use these to aid your judgment
The selected graphics items include the following:
Revenue, Long Term Debt, Price / Book Value, Pre-tax Income, Debt/Equity, Average P/E, Common Equity, No. (of) Shares, High P/E, High Price, Cash Flow, Low P/E, Low Price, Cash Flow / Debt, Internal Growth, EPS, Revenue / Share, none, Dividend, Price / Revenue, Net Income, Dividend Yield, Book Value / Share, Tax Rate
Advanced investors may look at this additional information for insight into unusual circumstances.
This data may be viewed in related groupings, eg.
Revenue, Net Income, EPS
Dividend and Dividend Yields
Long Term Debt, Debt to Equity, and Cash Flow to Debt
Number of Shares, Revenue per Share, and Book Value per Share
Price to Book Value and Price to Revenue
Data for these graphs are the standard data used elsewhere in the Stock Analyst PLUS! program.

12. SSG Graph visualizes historical growth facilitates future projections
depends upon user judgment
The SSG Graph provides the picture of historical growth for revenues, pre-tax income, and EPS. However, the investor must apply judgment to the data, based upon insight gained through investigating the company.

13. The most comprehensive program for NAIC analysis
Demonstration
The most comprehensive program for NAIC analysis