Detailed Net Income to NOPAT Reconciliation with Line Item Sums & Counts

Deeper, line item level details on the adjustments featured in the HBS & MIT Sloan Paper. Get the number of adjustments that increase & decrease NOPAT by category along with their gross value.

GAAP Net Income

+ 11 Categories of Non-Operating Expense Hidden in Operating Earnings, separated by increases & decreases with counts of both

+ 14 Categories of Reported Net Non-Operating Expense, separated by increases & decreases with counts of both

+ Change in Total Reserves

+ Goodwill Amortization

- ESO Expense (Employee Stock Options)

+ Interest for PV of Operating Leases

+ Non-Operating Tax Adjustments

+ 5 Categories of Net After-Tax Non-Operating Expense/Income, separated by increases & decreases with counts of both

= NOPAT (Net Operating Profit After Tax)

Data Dictionary
Backtest Sample
Backtest Documentation
API Documentation

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