NEWS BITES - MIDDLE EAST & NORTH AFRICA
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Riyad Bank's (TASI:1010) stock price ranks 3 in the Top 20 by earnings yield stocks in the All Share Index (TASI) Index of 175 stocks.
Note: Earnings yield is the inverse of the P/E ratio.
Rank 3 by earnings yield in All Share Index (TASI) Index. Rank 1 is highest.
Last price: SAR29.40;
FY 2022 EPS: SAR2.32;
RIYAD BANK Stock Dashboard [traded in Saudi Riyal, SAR] End-of-Day
| Exchange | SAUDI ARABIAN [Saudi ] | Ave Daily Volume | 532,147 shares |
| Currency | 1.000 USD = 3.75 Saudi Riyal (SAR) | 52-Week Price Range | 25.60 - 42.31 |
| Mar 07, 2023 | SAR29.40 | Sector | Bank |
| EPS (FY2022) | SAR2.32 | Independent Rating | Ranked 683 in Forbes 2000 |
| 1010 P/E | Stock 12.7; Sector 13.6 | Market Cap | SAR88 billion [US$24 billion] |
| 1010 Dividend Yield % (TTM) | Stock 3.5; Sector 2.3 | Shares Outstanding | 3,000,000,000 |
| DPS (past 12 months) | SAR1 | 1010 in Indices | All Share [of 175 stocks] |
| EPS Growth (Q3 2022 vs Q3 2021) | 15.7% | PVSAR1000 (1 yr) PVUS$1000 (1 yr) | SAR845 US$845* |
*If You Invested $1,000 in 1010 a year ago, This is How Much You Would Have Today: $845. USD1000 would have bought SAR3,750 for 104.9 shares (@the then price of 35.77) worth SAR845 @29.4 today. Dividends reinvested are worth $23.
INDEX
SECTION 1 RECENT NEWS AND RESEARCH
SECTION 2 TODAY'S BEARISH SIGNALS
SECTION 3 ONGOING BEARISH PARAMETERS
SECTION 4 TODAY'S BULLISH SIGNALS
SECTION 5 ONGOING BULLISH PARAMETERS
SECTION 6 CORPORATE PROFILE
SECTION 7 BANK METRICS
ANNEXURE 1 1.1 TOP MANAGEMENT AND BOARD OF DIRECTORS; 1.2 TOP SHAREHOLDERS; 1.3 CURRENCY SYNOPSIS: SAUDI RIYAL (SAR)
ANNEXURE 2 2.1 DIVIDEND
APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER
APPENDIX II STOCK IDENTIFIERS
GLOSSARY
SECTION 1 RECENT NEWS AND RESEARCH
Financial News
Annual Report (FY 2022):
Release Date: February 23, 2023
FY2022 Annual Report: Riyad Bank Net Profit up 16%
Riyad Bank (SA:1010) reported net profit for the year-ended 31 December 2022 [FY2022] of SAR7.0b ($1.9b), up 16% from SAR6.0b ($1.6b) in the previous year [FY2021]. Earnings per share (EPS) were up 15% from SAR2.01 (US53.6c) in FY2021 to SAR2.32 (US61.87c) in FY2022.
Annual growth in Revenue, Net Profit and EPS
| Year-ended | 31 December [FY/2022] | 31 December [FY/2021] |
| Revenue, SAR Billion | 13.6 | 11.6 |
| Revenue, $ Billion | 3.6 | 3.1 |
| Growth in Revenue % | 17.6 | - |
| Net Profit, SAR Billion | 7.0 | 6.0 |
| Net Profit, $ Billion | 1.9 | 1.6 |
| Growth in Net Profit % | 16.5 | 22.3 |
| EPS, SAR | 2.32 | 2.01 |
| Growth in EPS % | 15.4 | - |
SECTION 2 TODAY'S BEARISH SIGNALS
2.1 Relative Value Indicators: Overvaluation compared with sector averages
| Sector | P/E | |
| Forbes 2000 | Stock: 13; Sector: 12 | overvalued |
2.2 Rank in the bottom 16% by Relative Valuation in the Saudi Arabian market
| Description | Value | Rank |
| EV/EBITDA | 7.6 | In Bottom 16% |
2.3 Downtrend
Price/Moving Average Price of 0.88 and negative MACD:
- The Price/MAP 200 for Riyad Bank is 0.88. Being less than 1 is a bearish indicator. It is lower than the Price/MAP 200 for the All Share Index (TASI) of 0.92, a second bearish indicator. The stock is trading below both its MAPs and the 50-day MAP of SAR29.84 is lower than the 200-day MAP of SAR33.32, a third bearish indicator. The 200-day MAP has decreased to SAR33.32, a fourth bearish indicator.
- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 27.96 minus the 26-day EMA of 28.41 is negative, suggesting a bearish signal.
Trailing Relative Strength (6 months) at 29 percentile:
- The stock has a 6-month relative strength of 29 in the Saudi Arabian market of 213 stocks indicating it is trailing 71% of the market.
2.4 Overbought/Bearish Signals:
- The stock is overbought according to the Williams % R indicator of -9.5, suggesting the price is close to its 14-day high of SAR29.80.
SECTION 3 ONGOING BEARISH PARAMETERS
3.1 Rank in the bottom 24% by Growth in the Saudi Arabian market
| Description | Value | Rank |
| EPS Growth % | 15.4 | In Bottom 24% |
3.2 Present Value of SAR1000 Invested in the Past [3 Mo, 1 Yr]; The Worst Periods with PVSAR1000 < 968
| PVSAR1,000 | 3 mo ago | 1 yr ago |
| 1010.TASI | SAR967 | SAR845 |
| Bank sector | SAR984 | SAR700 |
| All Share Index (TASI) | SAR1,034 | SAR818 |
3.3 Past quarter: price fall of 3.3%
3-Month price change of -3.3% for Riyad Bank underperformed the change of 2.8% in the All Share index (TASI) for a relative price change of -6.1%.
| Price Change % | Quarter |
| Riyad Bank | -3.3 |
| Bank sector | -1.6 |
| All Share index (TASI) | 2.8 |
3.4 Moving Annual Return of -14.9% in the past year:
Moving Annual Return was -14.9% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 32.9%
| 1010 | Close (SAR) | Dividends (SAR) | Capital Gain / (Loss) % | % Yield | Annual Return % |
| Mar 07 | 29.4 | 1.04 | (17.8) | 2.9 | (14.9) |
| 1 Yr ago | 35.77 | 1 | 87.8 | 5.2 | 93.0 |
| 2 Yrs ago | 19.05 | 0.55 | 2.6 | 3 | 5.6 |
| 3 Yrs ago | 18.56 | 0.55 | (7.3) | 2.7 | (4.5) |
| 4 Yrs ago | 20.01 | 0.37 | 81.9 | 3.4 | 85.2 |
Close 5 years ago SAR11.0
3.5 Annualised Period-based Total Shareholder Returns [TSR %]: The Worst Period with TSR < -15.4%
| TSR % | 1 yr |
| 1010.TASI | -15.5 |
3.6 Declining Volume, down 51% in 5 years
In the past five years, Average Daily Volume of Trading (ADVT) has decreased 51.2% to 532,147 shares.
Avg. Daily Volume Traded 12 months ended Mar 07, thousand shares
| Year | ADVT |
| 2023 | 532.1 |
| 2022 | 1534.5 |
| 2021 | 1968.8 |
| 2020 | 2573.5 |
| 2019 | 1089.7 |
SECTION 4 TODAY'S BULLISH SIGNALS
4.1 Relative Value Indicators: Undervaluation compared with sector averages
Price/Earnings:
Riyad Bank stock is trading at the third lowest P/E multiple in the All Share Index (TASI).
| Sector | Dividend Yield % | |
| Forbes 2000 | Stock: 4; Sector: 1.0 | undervalued |
4.2 PAST WEEK: STRONG MOMENTUM UP - 1010 advances 12.9% propelled by week's volume 3.8 times average
Riyad Bank (1010) outperformed the All Share index (TASI) in 4 out of 5 days. The price ranged between a low of SAR27.45 on Wednesday Mar 01 and a high of SAR29.40 on Tuesday Mar 07.
| Mar | Riyad Bank | Close [SAR] | Change % | RPC % * | Comment |
| Wed 01 | In top 2% performers of All Share Index (TASI) | 27.45 | 5.4 | 4.5 | Top Rise; VI*=4.7 |
| Thu 02 | Up 5.8% in 2 days | 27.55 | 0.4 | -0.5 | VI*=4.04 |
| Sun 05 | Keeps rising, up 8.4% in 3 days | 28.25 | 2.5 | 1.2 | VI*=1.7 |
| Mon 06 | Keeps rising, up 11% in 4 days | 28.95 | 2.5 | 2.5 | VI*=4.8 |
| Tue 07 | Adds SAR1 billion ($360 million) (1.6%) in MCap, top heavyweight rise in Bank sector | 29.4 | 1.6 | 1.4 | VI*=4.2 |
* RPC - Relative Price Change is % price change of stock less % change of the All Share Index (TASI).
[Volume Index (VI); 1 is average]
4.3 Rank in the top 25% by Relative Valuation in the Saudi Arabian market
| Description | Value | Rank |
| Price/Earnings | 12.7 | In Top 16% |
| Earnings Yield % | 7.9 | In Top 22% |
| P/E * P/NTA | 21.16 | In Top 25% |
4.4 Rank in the top 18% by Price Performance in the Saudi Arabian market
| Description | Value | Rank |
| 1-week Price Change % | 12.9 | In Top 3% |
| 1-month Price Change % | 7.3 | In Top 18% |
4.5 Uptrend
The stock traded at a one-month high of SAR29.80 today.
4.6 Other Bullish Signals
- Return on Equity of 12.5% versus sector average of 10.8%.
- Return on Capital Employed of 7.1% versus sector average of 2.4%.
MCap/Total Assets:
- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.2. Compared with the rest of the market the stock is undervalued and ranks in the top 10% of stocks by value of Q Ratio.
- As per the Du Pont analysis, Return on Equity of 12.5% is better than sector average of 10.8%. This is computed as net profit margin of 51.6% times asset turnover [sales/assets] of 0.04 times leverage factor [total assets/shareholders' equity] of 6.4.
SECTION 5 ONGOING BULLISH PARAMETERS
5.1 Riyad Bank sees dividend rise for a second consecutive year
Riyad Bank reported dividends per share of SAR1.04 in the past year, up 4.0% from the previous year. This is the second consecutive dividend increase. In the past 2 years average annual compound growth rate of dividends was 37.5%.
5.2 Rule of 40
The stock scores a favorable score exceeding 40 when using the Rule of 40 (Revenue Growth plus EBITDA margin). Y.o.y revenue growth of 18%, EBITDA margin is 61.5% and the sum of the two 79.1% needs to exceed 40%.
5.3 Present Value of SAR1000 Invested in the Past 3 Years; The Best Period with PVSAR1000 > 1,767
| PVSAR1,000 | 3 yrs ago |
| 1010.TASI | SAR1,768 |
| Bank sector | SAR1,390 |
| All Share Index (TASI) | SAR1,403 |
5.4 Past 3 years: price rise of 58.4%
3-Year price change of 58.4% for Riyad Bank outperformed the change of 40.2% in the All Share index (TASI) for a relative price change of 18.2%.
| Price Change % | 3 Years |
| Riyad Bank | 58.4 |
| Bank sector | 39 |
| All Share index (TASI) | 40.2 |
5.5 Stock vs Index (Annual Percentage Change)
| December 31 | Last price in SAR | Annual Return | Return of All Share Index (TASI) |
| 2022 | 31.8 | 20.6 | -7.1 |
| 2021 | 26.4 | 39.8 | 29.8 |
| 2020 | 18.9 | -12.6 | 3.6 |
| 2019 | 21.6 | 23.8 | 7.2 |
| 2018 | 17.4 | - | - |
Over 5 years Riyad Bank is up a total 82.5% at an annualized rate of 16.2% compared to the Index being up 33.9% at an annualized rate of 7.6%.
Riyad Bank has outperformed the All Share Index (TASI) in 3 of the past 5
years: 2022, 2021, 2019.
5.6 Created Market Value [CMV] past 10 yrs of SAR48.2 billion ($12.9 billion)
- Market Capitalization has increased by SAR53.2 billion from SAR35 billion to SAR88.2 billion in the last 10 years. This increase comprises cumulative retained earnings (RETE) of SAR5 billion and Created Market Value of SAR48.2 billion. The Created Market Value multiple, defined by the change in MCap for every SAR1 of retained earnings is exemplary at SAR10.64.
5.7 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 13%
| TSR % | 3 yrs | 5 yrs | 10 yrs |
| 1010.TASI | 20.7 | 25.7 | 13.1 |
5.8 P/E/G < 1
The price earnings ratio of 12.7 divided by trailing twelve months eps growth of 15.4% corresponds to an attractive P/E/G of 0.8 times; being less than the value benchmark of 1.0.
| EPS Growth (%) | 15.42 |
| P/E/G | 0.82 |
| P/E | 12.67 |
5.9 Increased VWAP, up 128% in 5 years
In the past five years Volume Weighted Average Price (VWAP) has increased by 128.2% to SAR34.05.
Past five years, 12 months ended Mar 07 (SAR)
| Year | High Price | VWAP | Low Price |
| 2023 | 42.31 | 34.05 | 25.6 |
| 2022 | 36.01 | 26.66 | 19.12 |
| 2021 | 20.37 | 16.47 | 12.61 |
| 2020 | 26.74 | 22.59 | 18.29 |
| 2019 | 20.84 | 14.92 | 10.95 |
5.10 Increased share turnover, up 182% in 5 years
In the past five years, average daily share turnover has increased 182.3% to SAR45.3 million ($12.1 million). This suggests increased liquidity.
Past five years, 12 months ended Mar 07 (SAR million)
| Year | Average Daily Turnover |
| 2023 | 45.3 |
| 2022 | 40.3 |
| 2021 | 32.0 |
| 2020 | 56.3 |
| 2019 | 16.1 |
5.11 Satisfies one criterion of Benjamin Graham
- The P/E of 12.7 multiplied by the P/NTA of 1.7 is 21.2. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.
5.12 Satisfies 5 out of 9 criteria of Joseph Piotroski [pass mark 5]:
- Positive net income.
- Positive operating cashflow.
- Return on Assets improvement [from 1.8% to 2%].
- Total shares on issue unchanged.
- Improvement in asset turnover [growth in revenue of 17.6 exceeded growth in assets of 10.4%].
But does not meet the following 4 criteria of Joseph Piotroski:
- Good quality of earnings [operating cashflow exceeds net income].
- Improvement in long-term debt to total assets.
- Improvement in current ratio.
- Improvement in gross margin.
SECTION 6 CORPORATE PROFILE
6.1 Activities
Riyad Bank is a Saudi Arabia-based joint stock company operating in the banking and finance sector in compliance with Islamic Sharia. Its main activities are offered through three segments: personal banking, corporate banking and treasury and investment. Personal banking offers services, like current accounts, savings accounts, time deposits, credit cards, loans and borrowings. Its corporate segment provides business banking solutions, such as direct debit solutions, cash management, transfer solutions, online corporate banking, short and long term financing services, transfers and payroll solutions. It is Saudi Arabia's 3rd largest Bank by market capitalisation.
6.2 Contact Details
| Website | http:// www.riyadbank.com |
| Physical Address | King Abdul Aziz Road , PO Box 22622 , Riyadh 11416 , Saudi Arabia |
| Phone | 3030-401-1-966 |
| Fax | 2707-404-1-966 |
| abdullah.al-shehri@riyadbank.com |
6.3 Industry & Sector [of 57 stocks]
| Classification Level | Name of Sector |
| Business Sector | Banking & Investment Services |
| Industry Group | Banking Services |
| Industry | Banks |
| Economic Sector | Financials |
SECTION 7 BANK METRICS
7.1 Bank Metrics (FY2022)
| Description | FY2022 | FY2021 | Change |
| Interest Income | 3.6 B | 3.2 B | Up 12.8% |
| Total Non Interest Expense | 5.7 B | 4.8 B | Up 18.1% |
| Bank Other Revenue | 64.2 M | 45.2 M | Up 42.2% |
Favourable Changes:
- Interest Income up 12.8% from SAR3.2b to SAR3.6b
- Bank Other Revenue up 42.2% from SAR45.2m to SAR64.2m
Unfavourable Changes:
- Total Non Interest Expense up 18.1% from SAR4.8b to SAR5.7b
7.2 Bank Metrics (Q3/2022)
| Description | Q3/2022 | Q3/2021 | Change |
| Total Non Interest Expense | 1.5 B | 1.1 B | Up 37.7% |
| Bank Other Revenue | 36.8 M | 7.5 M | Up 390.9% |
Favourable Changes:
- Bank Other Revenue up 390.9% from SAR7.5m to SAR36.8m
Unfavourable Changes:
- Total Non Interest Expense up 37.7% from SAR1.1b to SAR1.5b
ANNEXURE 1
1.1 Top Management and Board of Directors
1.1.1 Top Management
Top Management [One top executive with tenure > 5 yrs]
| Name | Designation | Since Appointment |
| Mohammed Abdullah Al Yahya | Chief Operating Officer | 5 Yrs, 2 Mos |
Top Management [Three top executives with tenure < 5 yrs]
| Name | Designation | Since Appointment |
| Tareq A. Al Sadhan | Chief Executive Officer | 3 Yrs, 11 Mos |
| Abdullah Mohammed Al-Issa | Non-Executive Chairman | 3 Yrs, 5 Mos |
| Abdullah Ali Al-Oraini | Chief Financial Officer | 4 Yrs, 2 Mos |
1.1.2 Board Of Directors
Board Of Directors [Eleven directors with tenure > 6 yrs]
| Name | Designation | Since Appointment |
| Jamal Abdul Karim Abdul Karim Al Rammah | Director | 6 Yrs, 4 Mos |
| Ibrahim Hassan Sharbatly | Director | 7 Yrs, 2 Mos |
| Talal Ibrahim Al-Qudaibi | Independent Director | 7 Yrs, 2 Mos |
| Mutaz Kusai Al-Azzawi | Director | - |
| Nader Ibrahim Al-Wehibi | Director | - |
| Muhammad Omeir Aaed Al Oteibi | Director | - |
| Mohammed Abdulaziz Al-Afaleq | Director | - |
| Ibrahim Hassan Abbas Sharbatly | Director | - |
| Abdul-Rahman Amin Jawa | Independent Director | - |
| Mohammed Omair Ayed Al-Otaibi | Independent Director | - |
| Mohammed Talal Al-Nahas | Independent Director | - |
1.2 Top shareholders
Top 10 shareholders
| Name of the Share Holder | % of Capital |
| Public Investment Fund | 21.8 |
| General Organization for Social Insurance - Saudi Arabia | 10.4 |
| Al Nahla Trading and Contracting Co | 8.7 |
| Assila Investments Co | 8.0 |
| Hassana Investment Co | 4.9 |
| Moutaz Qusai Hassan Al Azzawi | 0.04 |
| Abdullah bin Mohammed Ibrahim Al Issa | 0.04 |
| Ibrahim Hassan Abbas Sharbatly | 0.02 |
| Mohammed Abdulaziz Sulaiman Al Afaleq | 0.003 |
| Talal Ibrahim Abdulrahman Al Qudaibi | 0.002 |
% held by Top 10 shareholders 53.9%
1.3 Currency Synopsis: Saudi Riyal (SAR)
1.3.1 % Change of SAR vs Currency Basket Period-Based
| Last | Country | 1-day % | 1-week % | 1-Year % | 3-Yrs % |
| SAR1=0.267USD | United States Of America | 0.0 | - | - | - |
| SAR1=1.844CNY | China | 0.3 | -0.7 | 9.4 | -0.9 |
| SAR1=36.225JPY | Japan | -0.5 | -0.4 | 17.6 | 25.8 |
| SAR1=0.251EUR | European Union | -0.2 | -1.0 | 3.7 | 4.6 |
| SAR1=345.733KRW | South Korea | -0.4 | -2.0 | 6.8 | 8.7 |
| SAR1=0.359SGD | Singapore | -0.1 | -0.4 | -1.0 | -3.4 |
| SAR1=0.43NZD | New Zealand | 0.3 | -1.2 | 9.9 | 0.9 |
| SAR1=0.222GBP | United Kingdom | -0.4 | -0.8 | 10.9 | 6.3 |
| SAR1=0.395AUD | Australia | - | -0.7 | 8.9 | -2.8 |
| SAR1=2.093HKD | Hong Kong | - | - | 0.4 | 0.9 |
| SAR1=0.25CHF | Switzerland | -0.4 | -0.4 | 1.9 | -2.2 |
| SAR1=0.363CAD | Canada | 0.1 | -0.2 | 7.1 | 1.8 |
| SAR1=2.793SEK | Sweden | -0.1 | -0.4 | 7.1 | 10.4 |
| SAR1=2.772NOK | Norway | -0.3 | -0.3 | 16.3 | 12.0 |
| SAR1=4.795MXN | Mexico | -0.7 | -2.4 | -13.1 | -7.5 |
ANNEXURE 2
2.1 Dividend
2.1.1 Dividend History
In the past 5 years annual dividends have increased by 67.0 hallalah from 37.0 hallalah to 104.0 hallalah. Based on a start date of 5 years ago, there have been no decline in dividends over the last 5 years.
| Date | Value ( hallalah) | Type |
| 31 Jul 2022 | 50 | Cash |
| 13 Apr 2022 | 54 | Cash |
| Tr 12 Months | 104 | |
| 2021 - 2022 | 100 | |
| 2020 - 2021 | 55 | |
| 2019 - 2020 | 55 | |
| 2018 - 2019 | 37 |
APPENDIX I DATA & ARCHIVE DOWNLOAD CENTER
1010: EXCEL TABLES ARE AVAILABLE TO EXPORT DATA:
+ PRICE VOLUME - 5-YEAR HISTORY
+ PEER COMPARISON - STOCK IN BANK SECTOR AND STOCK IN INDICES
1010: LINKS IN HTML TO FURTHER INFORMATION:
+ NEWS ARCHIVES - 1010 PAST 4 YEARS IN HTML:
+ EUR vs SAR EXCHANGE RATE CHARTS IN HTML
APPENDIX II STOCK IDENTIFIERS
ISIN: SA0007879048
PermID: 4295887338
RIC: 1010.SE
GLOSSARY
ADVT: Average Daily Volume of shares Traded
Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)
Current Ratio: Current Assets/Current Liabilities (times)
Dividend Yield: Dividend Per Share/Share Price (%)
Earnings Yield: Earnings Per Share/Share Price (%)
Income during the n years (3/2/1): Dividends received during the Period
Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods
PV1000: Present value of 1000 invested 1 year/'n' years ago
Price Close/Moving Avg Price: Latest Price/Moving Average Price
Price/Earnings: Share Price/Earnings Per Share (times)
Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index
Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.
Return on Assets: Net Profit/Total Assets (%)
Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)
TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend
TTM: Trailing 12 Months
Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.
Disclaimer: While this document is based on information sources which are considered reliable, it has been prepared without consideration of your specific investment objectives, financial situation or needs, so you should carry out your own analysis or seek professional investment advice before an investment decision is made. The document contains unbiased, independent equities data and analysis from Jupiter International (Australia) Pty Ltd trading as BuySellSignals (AFS Licence 222756), who provide round the clock analysis on every stock, every sector, every market, every day. BuySellSignals is not a broker, and does not have executing, corporate advisory or investment banking functions. Jupiter International (Australia) Pty Ltd, its directors, employees and contractors do not represent, warrant or guarantee, expressly or impliedly, that the information contained in this document is complete or accurate.
Data for the BuySellSignals algorithms is drawn from annual reports, company websites and similar sources of publicly available data. It should be used as a guide only.
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