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Accurate and detailed public company valuation and visualization. Customizable financial metrics, multiples and comp sets.
TruSpread is a tool for equity analysts, portfolio managers, investment bankers, investor relations teams and any other financial professional working with public company data. It spreads a public company’s capital structure the way a conscientious analyst would by hand.
Standard stock quote screens routinely get the basics wrong: market capitalization built on a basic share count, enterprise value with no visible bridge and dilutive securities left out entirely. TruSpread rebuilds those numbers from primary sources to provide accurate valuation statistics and other key information presented in a useful way.
From capital structure to a clean EV bridge
For each company, TruSpread reconstructs the full picture an analyst needs to value the business:
- Fully-diluted shares outstanding (FDSO)
- Options & RSUs via the treasury stock method
- Convertible notes and preferred stock
- Market capitalization and enterprise value
- A transparent EV bridge: cash, debt, leases, minority interest
- Per-tranche debt detail and a maturity schedule
- Income statement, balance sheet, and cash flow
- EBITDA, free cash flow, and other non-GAAP figures
- LTM and forward valuation multiples
- Customizable comparable-company comp sets
Sourced from SEC EDGAR, line by line
TruSpread pulls primary-source filings — 10-K annual reports, 10-Q quarterly reports, 8-K current reports, and the foreign-filer equivalents (20-F, 6-K) — directly from the SEC’s EDGAR system. It reads the capital-structure footnotes, the cover page, and the financial statements, then extracts the figures that drive valuation.
Traceability is built in: every figure TruSpread extracts is captured together with the verbatim snippet of filing text it came from, and figures that can’t be tied to a source are dropped rather than guessed. The cover-page share count is treated as authoritative for the share base, recent events after the latest statement date are folded in, and foreign filings are converted to USD at published reference rates.
The result is a fully-diluted share count and an enterprise-value bridge built from those primary sources, with source citations surfaced for key figures — such as the components of the EV bridge — so the numbers can be traced back to the filing.
Accuracy is the whole point
When the share count is wrong, every metric built on it — market cap, enterprise value, EV/EBITDA, P/E — is wrong too. A single overlooked block of dilutive shares or a misread convertible can move an implied valuation by billions. TruSpread exists to get the foundation right, so the multiples and comparisons built on top of it are trustworthy.
Want the full walkthrough with real examples? Read Why TruSpread, or email info@truspread.com for access.