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I am interested in analyzing balance sheets and income statements using R. I have seen that there are R packages that pull information from Yahoo and Google Finance, but all the examples I have seen concern historical stock price information. Is there a way I can pull historical information from balance sheets and income statements using R?
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Think of it this way. The balance sheet tells you what your business's assets and liabilities are, while the income statement tells you how your business used them. If there's a surplus after you complete the calculation, this is your net profit. If you get a negative number, this is your business's net loss.
The strength of a company's balance sheet can be evaluated by three broad categories of investment-quality measurements: working capital, or short-term liquidity, asset performance, and capitalization structure. Capitalization structure is the amount of debt versus equity that a company has on its balance sheet.
There are five commonplace approaches to financial statement analysis: horizontal analysis, vertical analysis, ratio analysis, trend analysis and cost-volume profit analysis.
I have found on the net only a partial solution to your issue, for I managed to retrieve only the Balance sheet info and financial statement for one year. I don't know how to do it for more years. There is a package in R, called quantmod, which you can install from CRAN
install.packages('quantmod')
Then you can do the following: Suppose you want to get the financial info from a company listed at NYSE : General Electric. ticker: GE
library(quantmod)
getFinancials('GE')
viewFinancials(GE.f)
To get only the income statement, reported anually, as a data frame use this:
viewFinancials(GE.f, "IS", "A")
Please let me know if you find out how to do this for multiple years.
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