Static data repository for CalcVI 2.0 — Calculadora de Valor Intrínseco App (v2.6.0+).

Serves monthly JSON snapshots of:

• IBOVESPA stocks — top-discounted BR tickers ranked by intrinsic value (BG & FL formulas)
• US stocks — top-discounted US tickers ranked by the same formulas (REITs excluded from rankings, see REIT Valuation)
• All stocks — complete catalog (BR + US) with fundamentals and quarterly historical multiples

Consumed by the CalcVI app on startup and throughout sessions to pre-populate ranked lists and stock data without requiring live API calls to fundamentals servers.

Brazil (IBOVESPA):

https://nascimentolwtn.github.io/calcvi-data/top-descontos.json
https://nascimentolwtn.github.io/calcvi-data/stocks-all.json

USA (OTC + NASDAQ):

https://nascimentolwtn.github.io/calcvi-data/us-top-descontos.json
https://nascimentolwtn.github.io/calcvi-data/us-stocks-all.json

File: top-descontos.json or us-top-descontos.json

{
  "atualizadoEm": "2026-07-10 01:22",
  "topBG": [
    { "codigo": "BBDC4", "nome": "Banco Bradesco S.A.", "lpa": 1.2, "vpa": 8.5 }
  ],
  "topFL": [
    { "codigo": "WEGE3", "nome": "Weg S.A.", "lpa": 2.45, "vpa": 12.3 }
  ]
}

Note: REITs are excluded from us-top-descontos.json rankings. Benjamin Graham and Lacerda formulas are designed for earnings-based valuation; real estate investment trusts use FFO-based (Funds From Operations) and dividend-based valuation models instead (see REIT Valuation).

File: stocks-all.json or us-stocks-all.json

{
  "atualizadoEm": "2026-07-10 01:22",
  "stocks": [
    {
      "codigo": "ABEV3",
      "nome": "Ambev S.A.",
      "lpa": 0.99,
      "vpa": 5.779,
      "weekLow": 8.5,
      "weekHigh": 17.04,
      "periods": ["Q1 25", "Q2 25", "Q3 25", "Q4 25", "Q1 26"],
      "pls": [16.899, 18.2, 15.5, 17.1, 16.2],
      "pvpas": [2.895, 3.1, 2.7, 2.9, 2.85],
      "lastQuarter": "2026-03-31"
    }
  ]
}

Starting in v2.6.0, US stocks (us-stocks-all.json) include quarter-by-quarter historical multiples for improved FL formula accuracy. Each monthly pipeline run:

1. Fetches new quarters from yfinance quarterly financial statements
2. Merges new quarters by period label into previously published periods, pls, and pvpas arrays (previously published values win on overlap to avoid re-processing)
3. Array depth grows over time beyond the initial 5 quarters

Example timeline:

• Month 1 (July 2026): Q1–Q5 2025 available → periods: ["Q1 25", ..., "Q1 26"], pls and pvpas length = 5
• Month 2 (August 2026): Q2 2026 closes → merge as "Q2 26" → periods length = 6, arrays grow
• Over time: Arrays accumulate historical depth, allowing the app to compute rolling multiples and trend analysis

Fallback: Stocks with <2 clean quarters omit periods, pls, pvpas entirely and retain the previous shape. DetailScreen falls back to the 52-week-range approximation (weekLow/weekHigh) for FL formula in this case.

REITs (Real Estate Investment Trusts) are marked separately in us-stocks-all.json and use alternative valuation schemas.

Equity REITs own and operate real estate properties. They are included in us-stocks-all.json with FFO-based valuation:

{
  "codigo": "AMH",
  "nome": "Ares Manufactured Housing...",
  "lpa": 4.32,
  "vpa": 42.857,
  "weekLow": 68.5,
  "weekHigh": 82.08,
  "periods": ["Q1 25", "Q2 25", "Q3 25", "Q4 25", "Q1 26"],
  "pls": [18.0967, 16.6057, 16.0125, 16.3485, 16.0624],
  "pvpas": [1.4273, 1.3707, 1.3375, 1.35, 1.4359],
  "isReit": true,
  "dividendRate": 3.108,
  "ffoPs": 4.3683
}

Valuation: for equity REITs the app suppresses BG entirely (GAAP earnings are distorted by real-estate depreciation) and computes FL with FFO in place of earnings — VI = √(median(P/FFO) × median(P/VPA) × ffoPs × VPA) — alongside the Bazin dividend fair price.

Mortgage REITs finance real estate mortgages rather than owning properties. They are included in us-stocks-all.json but excluded from us-top-descontos.json rankings. They omit periods, pls, pvpas, and ffoPs:

{
  "codigo": "ABR",
  "nome": "Arbor Realty Trust",
  "lpa": 0.4,
  "vpa": 11.625,
  "weekLow": 4.86,
  "weekHigh": 12.58,
  "isReit": true,
  "isMortgageReit": true,
  "dividendRate": 1.07
}

Valuation: the app uses only the Bazin dividend model (VI = dividendRate ÷ 0.06) for mortgage REITs; BG and FL are fully suppressed (shown as —).

Exclusion from rankings: Both equity and mortgage REITs are absent from us-top-descontos.json because discount rankings assume earnings-based intrinsic value; REITs' FFO and dividend models are incommensurable with traditional stock rankings.

Brazil (IBOVESPA): Updated monthly by running npm run publish-top from the CalcVI project. USA: Updated monthly by running npm run publish-us from the CalcVI project.

Intrinsic value is derived from quarterly earnings data (LPA, VPA) and historical quarter-end P/L and P/VPA multiples. Fundamentals change at most four times per year (Q1–Q4), so monthly snapshots age gracefully for several weeks.

In the App:

• HomeScreen displays atualizadoEm alongside ranked lists so users see data freshness
• DetailScreen shows fundamentals from the pre-fetched catalog before falling back to live Yahoo Finance prices
• All platforms (Android, iOS, web) read the same JSON endpoints — no platform-specific formatting
• REITs are filtered from ranked lists and use alternative valuation pipelines (FFO + dividend model)

Both BG and FL formulas calculate intrinsic value (VI) per share using LPA (earnings) and VPA (book value). For equity REITs, BG is suppressed and FL substitutes FFO per share (ffoPs) for LPA; mortgage REITs use the Bazin dividend model only.

BG — Benjamin Graham (Graham Formula)

VI = √(22.5 × LPA × VPA)

Designed for industrial/tangible-asset companies. Uses a universal constant 22.5 (representing 15× historical earnings multiple and 1.5× book value multiple). Conservative and less sensitive to company-specific multiples.

FL — Felipe Lacerda (Brazilian Value Investing Adaptation)

VI = √(median(P/L) × median(P/VPA) × LPA × VPA)

Designed for intangible-asset companies (tech, SaaS, services). Uses company-specific historical median P/L (price-to-earnings) and P/VPA (price-to-book) multiples from past quarters instead of a universal constant. More adaptable to sector and company characteristics. Better for growth-oriented sectors where BG may undervalue quality assets.

Bazin — Dividend Fair Price (REITs & High-Yield Stocks)

VI = dividendRate ÷ 0.06

Used for REITs and dividend-focused strategies. Assumes a 6% annual dividend yield as a fair return benchmark.

Os dados neste repositório são gerados automaticamente a partir de informações financeiras públicas e têm finalidade exclusivamente educacional e de estudo. Não constituem recomendação de investimento. Consulte um Assessor de Investimentos credenciado pela CVM antes de tomar qualquer decisão de investimento.