FnGuide Company Analysis: Separating Reported Results from Estimates
Learn how to distinguish consolidated and separate financial statements, and actual results and estimates, in FnGuide company analysis. Check service differences and financial metric definitions.
FnGuide listed-company analysis is a starting point for examining a company’s financial trends and market metrics within a consistent framework. Before comparing figures, distinguish consolidated from separate statements and reported results from estimates, and read how metrics are calculated. Not every FnGuide service offers the same screens or scope of access.
Identify the service accurately first
FnGuide’s official service list describes CompanyGuide as a service supporting financial and market analysis of listed companies. Its research platform, data analysis system, and financial data API are separate services. First identify which product you reached by searching for FnGuide; this reduces the risk of expecting features described in guides to other products. Search for companies using both name and code, and label saved links with the actual service name. Include features such as Excel connectivity or bulk downloads in your work plan only after confirming them in that service’s own documentation.
Treat consolidation basis and past versus future as separate dimensions
The official Company Guide user guide explains consolidated/separate selections and comparisons of actual and estimated results. If you select consolidated figures, check that the same basis applies across periods. Even if a table shows a large increase in earnings for a future year, do not describe it as an achieved result. In your analysis notes, treat historical revenue as the business’s actual record and forecast revenue as an assumption to be tested. To understand an improved outlook, go beyond copying figures and ask which variable—product prices, sales volume, or costs—must change to make it possible.
Connect standardized figures to definitions in filings
Ratios with the same name can differ if their denominator periods or share-count adjustments differ. Check the provided metric explanation, then compare it with the original filing. Standardized line items help comparisons across companies but cannot easily capture every company-specific transaction or note. When results change sharply, look for explanations such as business disposals, changes in consolidation scope, or one-off gains and losses. Resolving definitional differences before declaring a screen’s figures wrong or accepting them uncritically is central to using a data service well.
Worked example
Hypothetical example: If reported revenue of 1,000 and next-year estimated revenue of 1,200 appear side by side, both in units of KRW 100 million, the projected growth rate is 20%. Record this as “the estimate in the table assumes 20% growth,” rather than “revenue grew 20%.” When actual results are released, compare them on the same consolidated basis. If you cannot verify the contributing institutions or aggregation criteria, do not broaden the claim into a definitive expectation of the entire market.
What to check
- Have you distinguished CompanyGuide from other FnGuide services?
- Have you recorded the consolidated or separate selection?
- Have you distinguished actuals and forecasts in your wording too?
- Have you checked the periods and calculation definitions used in ratios?
Sources and primary materials
This is educational material about research methods. For an actual company decision, verify the filings and primary sources for the relevant period.