2.2.3 Private Infrastructure Comparables

Purpose

Performs a comparable computation for private infrastructure metrics. This involves finding data points which have similar TICCS classifications and factor values, and averaging the metric values.

Endpoint

POST

/compute-service/v2/pi-comparables/average/by/profiles

Parameters

• metric (string, required):
  The metric for which the comparable has to be evaluated.
  Supported metrics are: "EvToEbitda", "Irr", "PriceToBook", "PriceToSales", "Premia", "RevenueGrowth", "Wacc" for equities and "CreditSpread", "Ytm" for debts.

• age (int, optional):
  The age of the company in months, and the value should be between 24 and 240. Note that the computation extends 6-month before and after the specified age. For instance, 24 would indicate inclusion of companies of age between 18-month and 30-month.
  If age is set, startDate and endDate will be ignored.

• startDate (string, optional):
  The starting date for the comparable dataset. If supplied, the value has to be formatted as YYYY-MM-DD.

• endDate (string, optional):
  The maximum date of the comparable dataset. If supplied, the value has to be formatted as YYYY-MM-DD.

• ticcsProfiles (list of TiccsProfile objects, optional):
  Filters to be applied to comparables dataset by TICCS profiles. Each of the profile should be wrapped within a “profile” object.

• factorsProfiles (list of FactorProfile objects, optional):
  Financial factors to be applied to the comparables dataset. Each of the profile should be wrapped within a “profile” object.

• factorWeight (float, optional):
  A numeric value between 0 and 1. At the extremes, 1 indicates that comparables are purely based on factors, while 0 indicates that comparables are purely based on TICCS. Values between 0 and 1 create a weighted average between the two.

• intersectTiccs (boolean, optional):
  Intersect or union the TICCS filters when doing the calculation. Default value is false if omitted.

TiccsProfile (object)

• industrialActivities (list of strings, optional):
  List of industrial activity TICCS codes. See https://docs.sipametrics.com/docs/industrial-activities for the complete definitions.
  Acceptable values include: "IC10", "IC2010", "IC302010".

• businessModel (string, optional):
  Business risk TICCS code. See https://docs.sipametrics.com/docs/business-risk for the complete definitions.
  Supported values are: "BR1", "BR2", "BR3".

• corporateStructure (string, optional):
  Corporate structure TICCS code. See https://docs.sipametrics.com/docs/corporate-structure for the complete definitions.
  Supported values are: "CS1", "CS2".

FactorProfile (object)

• factor (string, required):
  Name of the factor.
  Supported factors are: "Countries", "Investment", "Leverage", "Profitability", "Size", "TimeToMaturity" for equities and "FaceValue", "TimeToMaturity" for debts.

Depending on the factor, there are additional parameters required to be supplied:

Example 1: Equity

• Request

  JSON

  {
      "metric": "EvToEbitda",
      "startDate": "2022-07-31",
      "endDate": "2024-07-31",
      "ticcsProfiles": [
          {
              "profile": {
                  "industrialActivities": [
                      "IC10"
                  ]
              }
          },
          {
              "profile": {
                  "businessModel": "BR1"
              }
          },
          {
              "profile": {
                  "corporateStructure": "CS1"
              }
          }
      ],
      "factorsProfiles": [
          {
              "profile": {
                  "factor": "Countries",
                  "countries": [
                      "AUS",
                      "NZL"
                  ]
              }
          },
          {
              "profile": {
                  "factor": "Size",
                  "quintile": 1,
                  "currency": "USD"
              }
          },
          {
              "profile": {
                  "factor": "Leverage",
                  "quintile": 1
              }
          },
          {
              "profile": {
                  "factor": "Profitability",
                  "quintile": 1
              }
          },
          {
              "profile": {
                  "factor": "Investment",
                  "quintile": 1
              }
          },
          {
              "profile": {
                  "factor": "TimeToMaturity",
                  "timeToMaturityBucket": "5-10"
              }
          }
      ]
  }
  

• Response

  JSON

  {
      "data": {
          "results": {
              "mean": 14.98952036684318,
              "q1": 5.938549664124269,
              "median": 10.619352274120464,
              "q3": 16.859396636913413,
              "datumCount": 4641,
              "companyCount": 237,
              "min": 2.315806555748836,
              "max": 91.26980837453112
          }
      }
  }
  

 Example 2: Debt

• Request

  JSON

  {
      "metric": "Ytm",
      "startDate": "2022-12-30",
      "endDate": "2023-12-30",
      "age": 24,
      "ticcsProfiles": [
          {
              "profile": {
                  "corporateStructure": "CS1"
              }
          }
      ],
      "factorsProfiles": [
          {
              "profile": {
                  "factor": "DebtTimeToMaturity",
                  "timeToMaturityBucket": "10-15"
              }
          }
      ]
  }
  

• Response

  JSON

  {
      "data": {
          "results": {
              "mean": 4.624043689499098,
              "q1": 3.7088655931638774,
              "median": 4.673818514785335,
              "q3": 5.534429457772652,
              "datumCount": 3155,
              "companyCount": 179,
              "min": 1.6315966576672387,
              "max": 8.09558947391433
          }
      }
  }