mirror of
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feat(optional-skills): port Anthropic financial-services skills as optional finance bundle (#21180)
Adds 7 optional skills under optional-skills/finance/ adapted from
anthropics/financial-services (Apache-2.0):
excel-author — openpyxl conventions: blue/black/green cells,
formulas over hardcodes, named ranges, balance
checks, sensitivity tables. Ships recalc.py.
pptx-author — python-pptx for model-backed decks (pitch,
IC memo, earnings note) that bind every number
to a source workbook cell.
dcf-model — institutional DCF (49KB skill): projections,
WACC, terminal value, Bear/Base/Bull scenarios,
5x5 sensitivity tables. Ships validate_dcf.py.
comps-analysis — comparable company analysis: operating metrics,
multiples, statistical benchmarking.
lbo-model — leveraged buyout: S&U, debt schedule, cash
sweep, exit multiple, IRR/MOIC sensitivity.
3-statement-model — fully-integrated IS/BS/CF with balance-check
plugs. Ships references/ for formatting,
formulas, SEC filings.
merger-model — accretion/dilution analysis for M&A.
All seven are optional (not active by default). Users install via
'hermes skills install official/finance/<skill>'.
Hermesification:
- Stripped every Office JS / Office Add-in / mcp__office__*
branch — skills assume headless openpyxl only.
- Replaced Cowork MCP data-source instructions with 'MCP first (via
native-mcp), fall back to web_search/web_extract against SEC EDGAR
and user-provided data'.
- Swapped Claude tool references (Bash, Read, Write, Edit, mcp__*)
for Hermes-native equivalents and Python library calls.
- Canonical Hermes frontmatter (name/description/version/author/
license/metadata.hermes.{tags,related_skills}).
- Descriptions tightened to 187-238 chars, trigger-first.
- Attribution preserved: author field credits 'Anthropic (adapted by
Nous Research)', license: Apache-2.0, each SKILL.md links back to
the upstream source directory.
Verification:
- All 7 discovered by OptionalSkillSource with source_id='official'
- Bundle fetch includes support files (scripts, references, troubleshooting)
- related_skills cross-refs all resolve within the bundle
- No Claude product / Cowork / Office JS / /mnt/skills leakage
remains in body text (bounded mentions only in attribution blocks)
Source: https://github.com/anthropics/financial-services (Apache-2.0)
This commit is contained in:
Teknium
GitHub
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# Formatting Standards Reference
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| Element | Format |
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|---------|--------|
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| Hard-coded inputs | Blue font |
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| Formulas | Black font |
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| Links to other sheets | Green font |
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| Check cells | Red if error, green if balanced |
|
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| Negative values | Parentheses, not minus signs |
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| Currency | No decimals for large figures, 2 decimals for per-share |
|
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| Percentages | 1 decimal place |
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| Headers | Bold, bottom border |
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| Units row | Include units row below headers ($ millions, %, etc.) |
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## Visual Separation Guidelines
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- Thin vertical border between historical and projected columns
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- Thick bottom border after section totals (e.g., Total Assets)
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- Single bottom border for subtotals
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- Double bottom border for grand totals
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## Total and Subtotal Row Formatting
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All total and subtotal rows must use **bold font formatting** for their numerical values to clearly distinguish aggregated figures from individual line items.
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### Income Statement (P&L) Tab
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| Row | Formatting |
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|-----|------------|
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| Gross Revenue | Bold |
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| Total Cost of Revenue | Bold |
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| Gross Profit | Bold |
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| Total SG&A | Bold |
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| EBITDA | Bold |
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| EBIT | Bold |
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| EBT | Bold |
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| Net Profit After Tax | Bold |
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### Balance Sheet Tab
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| Row | Formatting |
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|-----|------------|
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| Total Current Assets | Bold |
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| Total Non-Current Assets | Bold |
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| Total Other Assets | Bold |
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| Total Assets | Bold |
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| Total Current Liabilities | Bold |
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| Total Non-Current Liabilities | Bold |
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| Total Equity | Bold |
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| Total Liabilities and Equity | Bold |
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### Cash Flow Statement Tab
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| Row | Formatting |
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|-----|------------|
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| Cash Generated from Operations Before Working Capital Changes | Bold |
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| Total Working Capital Changes | Bold |
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| Net Cash Generated from Operations | Bold |
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| Net Cash Flow from Investing Activities | Bold |
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| Net Cash Flow from Financing Activities | Bold |
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| Closing Cash Balance | Bold |
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**Note:** This list is non-exhaustive. Apply bold formatting to any row that represents a total, subtotal, or summary calculation across the model.
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## Balance Sheet Check Row Formatting
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The Balance Sheet check row (below Total Liabilities and Equity) uses conditional number formatting that displays non-zero values in red. When the balance sheet balances correctly (check = 0), the values display in black or standard formatting.
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| Check Value | Font Color |
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|-------------|------------|
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| = 0 (balanced) | Black (standard) |
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| ≠ 0 (error) | Red |
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**Implementation:** Apply custom number format `[Red][<>0]0.00;[Red][<>0](0.00);0.00` or use Excel conditional formatting with the rule "Cell Value ≠ 0" → Red font.
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## Margin Row Formatting
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| Element | Format |
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|---------|--------|
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| Margin % rows | Indent, italics, 1 decimal place |
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| Positive trend | No special formatting (or subtle green) |
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| Negative trend | Flag for review (subtle yellow) |
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| Below peer average | Consider highlighting for discussion |
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## Credit Metric Formatting
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| Element | Format |
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|---------|--------|
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| Leverage multiples | 1 decimal with "x" suffix (e.g., 2.5x) |
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| Percentages | 1 decimal with "%" suffix |
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| Net Debt negative | Parentheses, indicates net cash position |
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| Section header | Bold, "CREDIT METRICS" |
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| Separator line | Thin border above credit metrics section |
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## Credit Metric Threshold Colors
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| Metric | Green | Yellow | Red |
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|--------|-------|--------|-----|
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| Total Debt / EBITDA | < 2.5x | 2.5x-4.0x | > 4.0x |
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| Net Debt / EBITDA | < 2.0x | 2.0x-3.5x | > 3.5x |
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| Interest Coverage | > 4.0x | 2.5x-4.0x | < 2.5x |
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| Debt / Total Cap | < 40% | 40%-60% | > 60% |
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| Current Ratio | > 1.5x | 1.0x-1.5x | < 1.0x |
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| Quick Ratio | > 1.0x | 0.75x-1.0x | < 0.75x |
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## Conditional Formatting for Checks Tab
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- Cell contains pass indicator → Green fill
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- Cell contains fail indicator → Red fill
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- Cell contains warning → Yellow fill
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- Difference cells = 0 → Light green fill
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- Difference cells ≠ 0 → Light red fill
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## Margin Reasonability Flags
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- Gross Margin < 0% → ERROR: Review COGS
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- Gross Margin > 80% → WARNING: Verify revenue/COGS
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- EBITDA Margin < 0% → FLAG: Operating losses
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- EBITDA Margin > 50% → WARNING: Unusually high
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- Net Margin < 0% → FLAG: Net losses (may be acceptable in growth phase)
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- Net Margin > Gross Margin → ERROR: Formula issue
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292
optional-skills/finance/3-statement-model/references/formulas.md
Normal file
292
optional-skills/finance/3-statement-model/references/formulas.md
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# Formula Reference
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**IMPORTANT:** Use the formulas outlined in this reference document unless otherwise specified by the user.
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---
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## Core Linkages
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```
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Balance Sheet: Assets = Liabilities + Equity
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Net Income: IS Net Income → CF Operations (starting point)
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Cash Flow: ΔCash = CFO + CFI + CFF
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Cash Tie-Out: Ending Cash (CF) = Cash (BS Asset)
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Cash Monthly/Annual: Closing Cash (Monthly) = Closing Cash (Annual)
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Retained Earnings: Prior RE + Net Income - Dividends = Ending RE
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Equity Raise: ΔCommon Stock/APIC (BS) = Equity Issuance (CFF)
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Year 0 Equity: Equity Raised (Year 0) = Beginning Equity (Year 1)
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```
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## Gross Profit Calculation
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**IMPORTANT:** Gross Profit must be calculated from Net Revenue, not Gross Revenue.
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```
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Net Revenue - Cost of Revenue = Gross Profit
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```
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| Term | Definition |
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|------|------------|
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| Gross Revenue | Total revenue before any deductions |
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| Net Revenue | Gross Revenue - Returns - Allowances - Discounts |
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| Cost of Revenue | Direct costs attributable to production of goods/services sold |
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| Gross Profit | Net Revenue - Cost of Revenue |
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**Note:** Always use Net Revenue (also called "Net Sales" or simply "Revenue" on most financial statements) as the starting point for profitability calculations. Gross Revenue overstates the true top-line performance.
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## Margin Formulas
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```
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Gross Margin % = Gross Profit / Net Revenue
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EBITDA = EBIT + D&A (or = Gross Profit - OpEx)
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EBITDA Margin % = EBITDA / Net Revenue
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EBIT Margin % = EBIT / Net Revenue
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Net Income Margin % = Net Income / Net Revenue
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```
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## Credit Metric Formulas
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```
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Total Debt = Current Portion of Debt + Long-Term Debt
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Net Debt = Total Debt - Cash
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Total Debt / EBITDA = Total Debt / EBITDA (from IS)
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Net Debt / EBITDA = Net Debt / EBITDA (from IS)
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Interest Coverage = EBITDA / Interest Expense (from IS)
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Net Int Exp % Debt = Net Interest Expense / Long-Term Debt
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Debt / Total Cap = Total Debt / (Total Debt + Total Equity)
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Debt / Equity = Total Debt / Total Equity
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Current Ratio = Total Current Assets / Total Current Liabilities
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Quick Ratio = (Total Current Assets - Inventory) / Total Current Liabilities
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```
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## Forecast Formulas (% of Net Revenue Method)
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```
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Cost of Revenue (Forecast) = Net Revenue × Cost of Revenue % Assumption
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S&M (Forecast) = Net Revenue × S&M % Assumption
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G&A (Forecast) = Net Revenue × G&A % Assumption
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R&D (Forecast) = Net Revenue × R&D % Assumption
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SBC (Forecast) = Net Revenue × SBC % Assumption
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```
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## Working Capital Formulas
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```
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Accounts Receivable
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Prior AR
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+ Revenue (from IS)
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- Cash Collections (plug)
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= Ending AR
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DSO = (AR / Revenue) × 365
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Inventory
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Prior Inventory
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+ Purchases (plug)
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- COGS (from IS)
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= Ending Inventory
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DIO = (Inventory / COGS) × 365
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Accounts Payable
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Prior AP
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+ Purchases (from Inventory calc)
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- Cash Payments (plug)
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= Ending AP
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DPO = (AP / COGS) × 365
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Net Working Capital = AR + Inventory - AP
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ΔWC = Current NWC - Prior NWC
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```
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## D&A Schedule Formulas
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```
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Beginning PP&E (Gross)
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+ CapEx
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= Ending PP&E (Gross)
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Beginning Accumulated Depreciation
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+ Depreciation Expense
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= Ending Accumulated Depreciation
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PP&E (Net) = Gross PP&E - Accumulated Depreciation
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```
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## Debt Schedule Formulas
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```
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Beginning Debt Balance
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+ New Borrowings
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- Repayments
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= Ending Debt Balance
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Interest Expense = Avg Debt Balance × Interest Rate
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(Use beginning balance to avoid circularity, or iterate if circular refs enabled)
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```
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## Retained Earnings Formula
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```
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Beginning Retained Earnings
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+ Net Income (from IS)
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+ Stock-Based Compensation (SBC) (from IS)
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- Dividends
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= Ending Retained Earnings
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```
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## NOL (Net Operating Loss) Schedule Formulas
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```
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NOL CARRYFORWARD SCHEDULE
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Beginning NOL Balance (Year 1 / Formation = 0)
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+ NOL Generated (if EBT < 0, then ABS(EBT), else 0)
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- NOL Utilized (limited by taxable income and utilization cap)
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= Ending NOL Balance
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STARTING BALANCE RULE
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For a new business or first modeled period:
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Beginning NOL Balance = 0
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NOL can only increase through realized losses (EBT < 0)
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NOL cannot be created from thin air or assumed
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NOL UTILIZATION CALCULATION
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Pre-Tax Income (EBT)
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If EBT > 0:
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NOL Available = Beginning NOL Balance
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Utilization Limit = EBT × 80% (post-2017 federal limit)
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NOL Utilized = MIN(NOL Available, Utilization Limit)
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Taxable Income = EBT - NOL Utilized
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If EBT ≤ 0:
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NOL Utilized = 0
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Taxable Income = 0
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NOL Generated = ABS(EBT)
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TAX CALCULATION WITH NOL
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Taxes Payable = MAX(0, Taxable Income × Tax Rate)
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(Taxes cannot be negative; losses create NOL asset instead)
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DEFERRED TAX ASSET (DTA) FOR NOL
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DTA - NOL Carryforward = Ending NOL Balance × Tax Rate
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ΔDTA = Current DTA - Prior DTA
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(Increase in DTA = non-cash benefit on CF)
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(Decrease in DTA = non-cash expense on CF)
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```
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## Balance Sheet Structure
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```
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ASSETS
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Cash (from CF ending cash)
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Accounts Receivable (from WC)
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Inventory (from WC)
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Total Current Assets
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PP&E, Net (from DA)
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Deferred Tax Asset - NOL (from NOL schedule)
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Total Non-Current Assets
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Total Assets
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LIABILITIES
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Accounts Payable (from WC)
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Current Portion of Debt (from Debt)
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Total Current Liabilities
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Long-Term Debt (from Debt)
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Total Liabilities
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EQUITY
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Common Stock
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Retained Earnings (from RE schedule)
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Total Equity
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CHECK: Assets - Liabilities - Equity = 0
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```
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## Cash Flow Statement Structure
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```
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CASH FROM OPERATIONS (CFO)
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Net Income (LINK: IS)
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+ D&A (LINK: DA schedule)
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+ Stock-Based Compensation (SBC) (LINK: IS or Assumptions)
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- ΔDTA (Deferred Tax Asset) (LINK: NOL schedule; increase in DTA = use of cash)
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- ΔAR (LINK: WC)
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- ΔInventory (LINK: WC)
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+ ΔAP (LINK: WC)
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= CFO
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CASH FROM INVESTING (CFI)
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- CapEx (LINK: DA schedule)
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= CFI
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CASH FROM FINANCING (CFF)
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+ Debt Issuance (LINK: Debt)
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- Debt Repayment (LINK: Debt)
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+ Equity Issuance (LINK: BS Common Stock/APIC)
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- Dividends (LINK: RE schedule)
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= CFF
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Net Change in Cash = CFO + CFI + CFF
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Beginning Cash
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+ Net Change in Cash
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= Ending Cash (LINK TO: BS Cash)
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```
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## Income Statement Structure
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```
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Net Revenue
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Growth %
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(-) Cost of Revenue
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% of Net Revenue
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────────────────
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Gross Profit (= Net Revenue - Cost of Revenue)
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Gross Margin %
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(-) S&M
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% of Net Revenue
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(-) G&A
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% of Net Revenue
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(-) R&D
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% of Net Revenue
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(-) D&A
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(-) SBC
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% of Net Revenue
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────────────────
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EBIT
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EBIT Margin %
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EBITDA
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EBITDA Margin %
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(-) Interest Expense
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────────────────
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EBT (Pre-Tax Income)
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(-) NOL Utilization (from NOL schedule, reduces taxable income)
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────────────────
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Taxable Income
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(-) Taxes (Taxable Income × Tax Rate)
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────────────────
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Net Income
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Net Income Margin %
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```
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## Check Formulas
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```
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BS Balance Check: = Assets - Liabilities - Equity (must = 0)
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Cash Tie-Out: = BS Cash - CF Ending Cash (must = 0)
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RE Roll-Forward: = Prior RE + NI + SBC - Div - BS RE (must = 0)
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DTA Tie-Out: = NOL Schedule DTA - BS DTA (must = 0)
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Equity Raise Tie-Out: = ΔCommon Stock/APIC (BS) - Equity Issuance (CFF) (must = 0)
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Year 0 Equity Tie-Out: = Equity Raised (Year 0) - Beginning Equity (Year 1) (must = 0)
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Cash Monthly vs Annual: = Closing Cash (Monthly) - Closing Cash (Annual) (must = 0)
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NOL Utilization Cap: = NOL Utilized ≤ EBT × 80% (must be TRUE for post-2017)
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NOL Non-Negative: = Ending NOL Balance ≥ 0 (must be TRUE)
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NOL Starting Balance: = Beginning NOL (Year 1) = 0 (must be TRUE for new business)
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NOL Accumulation: = NOL increases only when EBT < 0 (losses generate NOL)
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```
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@ -0,0 +1,125 @@
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# SEC Filings Data Extraction Reference
|
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**When to Use:** Only reference this file when a model template specifically requires pulling data from SEC filings (10-K, 10-Q). For templates that provide data directly or use other data sources, this reference is not needed.
|
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|
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---
|
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|
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## Extracting Data from SEC Filings (10-K / 10-Q)
|
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|
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When populating a model template with public company data, extract financials directly from SEC filings.
|
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|
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### Step 1: Locate the Filing
|
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|
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1. Use SEC EDGAR: `https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=[TICKER]&type=10-K`
|
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2. For quarterly data, use `type=10-Q`
|
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|
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### Step 2: Identify Filing Currency
|
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|
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Before extracting data, identify the reporting currency:
|
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- Check the cover page or header for reporting currency
|
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- Look at statement headers (e.g., "in thousands of U.S. dollars")
|
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- Review Note 1 (Summary of Significant Accounting Policies)
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|
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**Common Currency Indicators**
|
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|
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| Indicator | Currency |
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|-----------|----------|
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| $, USD | US Dollar |
|
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| €, EUR | Euro |
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| £, GBP | British Pound |
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| ¥, JPY | Japanese Yen |
|
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| ¥, CNY, RMB | Chinese Yuan |
|
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| CHF | Swiss Franc |
|
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| CAD, C$ | Canadian Dollar |
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|
||||
Set model currency to match filing; document in Assumptions tab.
|
||||
|
||||
### Step 3: Navigate to Financial Statements
|
||||
|
||||
Within the 10-K or 10-Q, locate:
|
||||
- **Item 8** (10-K) or **Item 1** (10-Q): Financial Statements
|
||||
- Key sections to extract:
|
||||
- Consolidated Statements of Operations (Income Statement)
|
||||
- Consolidated Balance Sheets
|
||||
- Consolidated Statements of Cash Flows
|
||||
- Notes to Financial Statements (for schedule details)
|
||||
|
||||
### Step 4: Data Extraction Mapping
|
||||
|
||||
**Income Statement (from Consolidated Statements of Operations)**
|
||||
|
||||
| Filing Line Item | Model Line Item |
|
||||
|------------------|-----------------|
|
||||
| Net revenues / Net sales | Revenue |
|
||||
| Cost of goods sold | COGS |
|
||||
| Selling, general and administrative | SG&A |
|
||||
| Depreciation and amortization | D&A |
|
||||
| Interest expense, net | Interest Expense |
|
||||
| Income tax expense | Taxes |
|
||||
| Net income | Net Income |
|
||||
|
||||
**Balance Sheet (from Consolidated Balance Sheets)**
|
||||
|
||||
| Filing Line Item | Model Line Item |
|
||||
|------------------|-----------------|
|
||||
| Cash and cash equivalents | Cash |
|
||||
| Accounts receivable, net | AR |
|
||||
| Inventories | Inventory |
|
||||
| Property, plant and equipment, net | PP&E (Net) |
|
||||
| Total assets | Total Assets |
|
||||
| Accounts payable | AP |
|
||||
| Short-term debt / Current portion of LT debt | Current Debt |
|
||||
| Long-term debt | LT Debt |
|
||||
| Retained earnings | Retained Earnings |
|
||||
| Total stockholders' equity | Total Equity |
|
||||
|
||||
**Cash Flow Statement (from Consolidated Statements of Cash Flows)**
|
||||
|
||||
| Filing Line Item | Model Line Item |
|
||||
|------------------|-----------------|
|
||||
| Net income | Net Income |
|
||||
| Depreciation and amortization | D&A |
|
||||
| Changes in accounts receivable | ΔAR |
|
||||
| Changes in inventories | ΔInventory |
|
||||
| Changes in accounts payable | ΔAP |
|
||||
| Capital expenditures | CapEx |
|
||||
| Proceeds from issuance of common stock | Equity Issuance |
|
||||
| Proceeds from / Repayments of debt | Debt activity |
|
||||
| Dividends paid | Dividends |
|
||||
|
||||
### Step 5: Extract Supporting Detail from Notes
|
||||
|
||||
For schedules, pull from Notes to Financial Statements:
|
||||
- **Note: Debt** → Maturity schedule, interest rates, covenants
|
||||
- **Note: Property, Plant & Equipment** → Gross PP&E, accumulated depreciation, useful lives
|
||||
- **Note: Revenue** → Segment breakdowns, geographic splits
|
||||
- **Note: Leases** → Operating vs. finance lease obligations
|
||||
|
||||
### Step 6: Historical Data Requirements
|
||||
|
||||
Extract 3 years of historical data minimum:
|
||||
- 10-K provides 3 years of IS/CF, 2 years of BS
|
||||
- For 3rd year BS, pull from prior year's 10-K
|
||||
- Use 10-Qs to fill in quarterly granularity if needed
|
||||
|
||||
### Data Extraction Checklist
|
||||
|
||||
- Identify reporting currency and scale (thousands, millions)
|
||||
- 3 years historical Income Statement
|
||||
- 3 years historical Cash Flow Statement
|
||||
- 3 years historical Balance Sheet
|
||||
- Verify IS Net Income = CF starting Net Income (each year)
|
||||
- Verify BS Cash = CF Ending Cash (each year)
|
||||
- Extract debt maturity schedule from notes
|
||||
- Extract D&A detail or useful life assumptions
|
||||
- Note any non-recurring / one-time items to normalize
|
||||
|
||||
### Handling Common Filing Variations
|
||||
|
||||
| Variation | How to Handle |
|
||||
|-----------|---------------|
|
||||
| D&A embedded in COGS/SG&A | Pull D&A from Cash Flow Statement |
|
||||
| "Other" line items are material | Check notes for breakdown |
|
||||
| Restatements | Use restated figures, note in assumptions |
|
||||
| Fiscal year ≠ calendar year | Label with fiscal year end (e.g., FYE Jan 2025) |
|
||||
| Non-USD reporting currency | Adapt model currency to match filing |
|
||||
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