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package/skills/integrations/capiq.md

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+**CapIQ Formula Guide**
+
+**Intro**
+You have full access to CapIQ through Excel, but you should only pull CapIQ data **when the user explicitly tells you to**. When the user does request CapIQ data, you can retrieve any data point—financials, estimates, ownership, multiples, ratios, market data, etc.—by writing CIQ formulas directly in the cell.
+
+**IMPORTANT:** Before completing a task involving Cap IQ, you must verify two things:
+1. Your Cap IQ formulas do not return errors.
+2. All values should seem reasonable and make intuitive sense based on your general knowledge of companies and finance.
+3. Use cell references for tickers and periods when possible as opposed to hardcoded values into the formula.
+
+You should essentially gut check every value that shows up. If there are any errors or the values seem wrong, you likely wrote the formula syntax incorrectly or are misinterpreting the data that Cap IQ returns. Please correct the formula until it outputs the proper value. Make sure that value makes logical sense. After you make the proper corrections, there may still be errors, but they should be because of the underlying Cap IQ data, not your formula syntax. Please thoroughly check all Cap IQ formulas and outputs before completing a task to make sure they are not your own syntax errors.
+
+---
+**Cap IQ Formula Syntax**
+
+**1. Basic CIQ Formula Format**
+Use this when you only need ticker, data point / variable, and period.
+Format: =CIQ("TICKER","DATA_POINT",PERIOD)
+Example: =CIQ("AAPL","IQ_TOTAL_REV",IQ_FY)
+(Meaning: pull Apple's total revenue for the most recent fiscal year.)
+
+**Ticker Format:** CIQ uses plain ticker symbols (e.g., "AAPL", "MSFT", "GOOGL"). For international stocks, use the exchange prefix: "LSE:BP" (London), "TSE:7203" (Tokyo), "XTRA:VOW3" (Germany). You can also use CIQ Company IDs.
+
+**2. Advanced CIQ Formula Format**
+Use when you need more control (as-of date, reporting type, currency, filing mode, etc.).
+
+Format:
+=CIQ("TICKER","DATA_POINT",PERIOD,"AS_OF_DATE","REPORTING_TYPE","PERIOD/FILING_MODE","CURRENCY","CONVERSION_MODE")
+
+Example: =CIQ("GOOGL","IQ_TOTAL_REV",IQ_FY,"8/1/2004","LFR","P","EUR","C")
+(Meaning: pull Alphabet's fiscal-year total revenue as of 8/1/2004, using the latest reported numbers, anchored to period date, converted into EUR at the current FX rate.)
+
+**3. Period Reference Numbers (numeric codes for different periods)**
+
+| Period Type | Base Code | Example: Current | Example: Prior |
+|-------------|-----------|------------------|----------------|
+| Fiscal Year | 1000 | 1000 = current FY | 999 = prior FY, 998 = FY-2 |
+| Fiscal Quarter | 500 | 500 = current FQ | 499 = prior FQ, 498 = FQ-2 |
+| Fiscal Half | 100000 | 100000 = current FH | 99999 = prior FH |
+| Last Twelve Months | 2000 | 2000 = current LTM | 1999 = prior LTM |
+| Year-to-Date | 3000 | 3000 = current YTD | 2999 = prior YTD |
+| Calendar Year | 10000 | 10000 = current CY | 9999 = prior CY |
+| Calendar Quarter | 5000 | 5000 = current CQ | 4999 = prior CQ |
+| Calendar Half | 110000 | 110000 = current CH | 109999 = prior CH |
+| Next Twelve Months | 6000 | 6000 = NTM | — |
+
+**IMPORTANT:** Prior periods = subtract 1 from the base code. Future periods = add 1. So: 1001 = FY+1 (next fiscal year estimate), 1002 = FY+2, 501 = FQ+1 (next fiscal quarter estimate), etc.
+
+**Named Period Constants (alternative to numeric codes):**
+
+| Constant | Meaning |
+|----------|---------|
+| IQ_FY | Current fiscal year |
+| IQ_FQ | Current fiscal quarter |
+| IQ_LTM | Last twelve months |
+| IQ_YTD | Year to date |
+| IQ_NTM | Next twelve months |
+| IQ_CY | Current calendar year |
+| IQ_CQ | Current calendar quarter |
+
+**4. Period Modifiers (Reporting Type field)**
+"L" = Latest
+"LFR" = Reported
+"O" = Original
+"P" = Preliminary
+"LRI" = Latest Reported Instance
+"LRP" = Latest Reported Period
+
+**5. Period / Filing Mode**
+"P" = Period date
+"F" = Filing date
+
+**6. Currency**
+"USD", "EUR", "GBP", etc.
+
+**7. Conversion Mode**
+"C" = Current
+"H" = Historical
+
+---
+
+**8. Forward Estimate Periods**
+
+Use forward period codes to pull consensus estimates for specific future periods.
+
+**Fiscal Year Estimates:**
+=CIQ("AAPL","IQ_EPS_EST",1001)
+→ FY+1 (next fiscal year) consensus EPS estimate.
+
+=CIQ("AAPL","IQ_EPS_EST",1002)
+→ FY+2 consensus EPS estimate.
+
+=CIQ("AAPL","IQ_EPS_EST",1003)
+→ FY+3 consensus EPS estimate.
+
+**Quarterly Estimates:**
+=CIQ("AAPL","IQ_EPS_EST",501)
+→ FQ+1 (next fiscal quarter) consensus EPS estimate.
+
+=CIQ("AAPL","IQ_EPS_EST",502)
+→ FQ+2 consensus EPS estimate.
+
+**NTM (Next Twelve Months):**
+=CIQ("AAPL","IQ_EPS_EST",6000)
+→ NTM blended consensus EPS.
+
+**Pre-Computed Forward Multiples:**
+These fields use NTM estimates automatically — no period code needed:
+=CIQ("AAPL","IQ_PE_EXCL_FWD")
+→ Forward P/E (NTM).
+
+=CIQ("AAPL","IQ_TEV_EBITDA_FWD")
+→ Forward EV/EBITDA (NTM).
+
+=CIQ("AAPL","IQ_TEV_TOTAL_REV_FWD")
+→ Forward EV/Revenue (NTM).
+
+**Available Estimate Fields:**
+| Field | Description |
+|-------|-------------|
+| IQ_EPS_EST | Primary EPS estimate |
+| IQ_REVENUE_EST | Revenue estimate |
+| IQ_EBITDA_EST | EBITDA estimate |
+| IQ_EBIT_EST | EBIT estimate |
+| IQ_NI_EST | Net income estimate |
+| IQ_CFPS_EST | Cash flow per share estimate |
+
+**Note:** Without a forward period code, estimate fields default to the next unreported period. Always specify the period explicitly for clarity (e.g., 1001 for FY+1, 501 for FQ+1).
+
+---
+
+**9. FX & Currency Conversion**
+
+**Currency Conversion Modes:**
+
+| Mode | When to Use | Example |
+|------|-------------|---------|
+| "C" (Current) | Convert at today's FX rate — use for current comparisons | `=CIQ("LSE:BP","IQ_TOTAL_REV",IQ_FY,,,,"USD","C")` |
+| "H" (Historical) | Convert at the FX rate as of the period end date — use for historical accuracy | `=CIQ("LSE:BP","IQ_TOTAL_REV",IQ_FY,,,,"USD","H")` |
+
+**Key Difference:** "C" mode converts ALL periods using today's rate (good for comps tables). "H" mode converts each period at the rate that was in effect at that time (good for historical trend analysis).
+
+**Example — Revenue in USD (current rate):**
+=CIQ("LSE:BP","IQ_TOTAL_REV",IQ_FY,,"L","P","USD","C")
+→ BP's latest fiscal year revenue converted to USD at today's FX rate.
+
+**Example — Historical revenue series in EUR:**
+=CIQ("AAPL","IQ_TOTAL_REV",999,,"L","P","EUR","H")
+→ Apple's prior fiscal year revenue converted to EUR at the period-end FX rate.
+
+**IMPORTANT:** If you omit the currency parameter, data returns in the company's reporting currency. For comps tables with multi-currency companies, always specify a common currency.
+
+---
+
+**10. CIQRANGE — Time Series & Arrays**
+
+CIQRANGE returns arrays of data that spill down a column (or across a row with CIQRANGEA).
+
+**Pricing Time Series:**
+=CIQRANGE("AAPL","IQ_CLOSEPRICE","01/01/2023","12/31/2023")
+→ Daily closing prices for Apple in 2023. Spills down from the formula cell.
+
+**Historical Fundamentals:**
+=CIQRANGE("AAPL","IQ_TOTAL_REV",IQ_FY,"12/31/2023")
+→ Annual revenue series up to 12/31/2023.
+
+**Multiples Time Series:**
+=CIQRANGE("AAPL","IQ_TEV_EBITDA",IQ_FY,"01/01/2019","12/31/2023")
+→ TEV/EBITDA for each fiscal year from 2019 to 2023.
+
+**Horizontal Output:**
+=CIQRANGEA("AAPL","IQ_CLOSEPRICE","01/01/2023","12/31/2023")
+→ Same data but spills across a row instead of down a column.
+
+**Hardcoded Values:**
+=CIQRANGEV("AAPL","IQ_CLOSEPRICE","01/01/2023","12/31/2023")
+→ Returns hardcoded values (not formulas). Useful for large datasets that don't need refreshing.
+
+**Key Behaviors:**
+- CIQRANGE spills down/right from the cell — always leave empty space below.
+- Data refreshes when the workbook is refreshed via the CIQ add-in.
+- For very large date ranges, use CIQRANGEV to avoid performance issues.
+
+---
+
+**11. Helper Functions**
+
+| Function | Description | Example |
+|----------|-------------|---------|
+| CIQAVG(T, Item, D1, D2) | Average value over date range | `=CIQAVG("AAPL","IQ_CLOSEPRICE","01/01/2023","12/31/2023")` |
+| CIQHI(T, Item, D1, D2) | Highest value over date range | `=CIQHI("AAPL","IQ_CLOSEPRICE","01/01/2023","12/31/2023")` |
+| CIQLO(T, Item, D1, D2) | Lowest value over date range | `=CIQLO("AAPL","IQ_CLOSEPRICE","01/01/2023","12/31/2023")` |
+| CIQPC(T, Item, D1, D2) | Percent change over date range | `=CIQPC("AAPL","IQ_CLOSEPRICE","01/01/2023","12/31/2023")` |
+| CIQGETDATE(IQ_TODAY) | Today's date | `=CIQGETDATE(IQ_TODAY)` |
+
+**Period-Based Variants:**
+=CIQAVG("AAPL","IQ_CLOSEPRICE",IQ_FY)
+→ Average closing price over the current fiscal year.
+
+=CIQHI("AAPL","IQ_CLOSEPRICE",IQ_FY)
+→ Highest closing price in the current fiscal year.
+
+---
+
+**12. Segment & Geographic Data**
+
+**Business Segment Lists:**
+=CIQ("AAPL","IQ_BUS_SEG_NAME")
+→ Returns list of reported business segments.
+
+**Segment Revenue:**
+=CIQ("AAPL","IQ_BUS_SEG_REV")
+→ Returns revenue by business segment.
+
+**Segment Assets:**
+=CIQ("AAPL","IQ_BUS_SEG_ASSETS")
+→ Returns assets by business segment.
+
+**Geographic Segments:**
+=CIQ("AAPL","IQ_GEO_SEG_NAME")
+→ Returns list of geographic segments.
+
+=CIQ("AAPL","IQ_GEO_SEG_REV")
+→ Returns revenue by geography.
+
+**Limitations:**
+- Segment data availability depends on company filings — not all companies report detailed segments.
+- For pharma/individual drug revenue, CIQ generally does NOT have product-level data. Use Visible Alpha or company filings.
+
+---
+
+**13. Index Constituents & Screening**
+
+**Index Members:**
+=CIQ("SPX","IQ_CONSTITUENTS")
+→ Returns list of S&P 500 constituent tickers.
+
+**Quick Comps:**
+=CIQRANGE("AAPL","IQ_QUICK_COMP",1,10)
+→ Returns Apple's top 10 comparable companies as determined by CIQ.
+
+**Building a Comp Table:**
+1. Pull index members or use IQ_QUICK_COMP into column A
+2. For each ticker: =CIQ(A2,"IQ_TOTAL_REV",IQ_FY) in column B
+3. Drag down for all tickers
+
+**Note:** CIQ does not have a built-in screening language like Bloomberg BQL. Use the Capital IQ Screening tool in the Excel add-in sidebar, or build comp tables manually using the formula approach above.
+
+---
+
+**14. Field Return Types & Formatting**
+
+CIQ returns financial data in the company's reporting units. Understanding the units is critical.
+
+**Currency Amount Fields** (return raw values in reporting currency):
+- IQ_TOTAL_REV, IQ_EBITDA, IQ_EBIT, IQ_NI, IQ_CASH_OPER, IQ_CAPEX, IQ_MARKETCAP, IQ_TEV
+- IQ_LEVERED_FCF, IQ_UNLEVERED_FCF, IQ_TOTAL_DEBT, IQ_NET_DEBT
+- **IMPORTANT:** CIQ returns financials in actual reported units (usually millions for US companies, but varies). Check the company's filing to confirm. A revenue of 394,328 for Apple means $394,328 million = $394.3 billion.
+
+**Percentage Fields** (return whole numbers, e.g., 25.0 means 25%):
+- IQ_GROSS_MARGIN, IQ_EBITDA_MARGIN, IQ_NI_MARGIN, IQ_LFCF_MARGIN
+- IQ_RETURN_ASSETS, IQ_RETURN_EQUITY
+- IQ_TOTAL_REV_1YR_ANN_GROWTH and all growth fields
+- IQ_DIVIDEND_YIELD, IQ_EFFECT_TAX_RATE
+- **Rule:** Do NOT apply Excel `0.00%` format (would show 2500% instead of 25%). Display as-is or use custom format `0.0"%"`.
+
+**Ratio Fields** (return dimensionless multiples):
+- IQ_TEV_EBITDA, IQ_TEV_TOTAL_REV, IQ_PE_EXCL, IQ_PBV, IQ_PTBV
+- IQ_TEV_EBITDA_FWD, IQ_PE_EXCL_FWD, IQ_PEG_FWD
+- IQ_CURRENT_RATIO, IQ_QUICK_RATIO, IQ_EBIT_INT
+- Never apply percentage formatting to these.
+
+**Per-Share Fields** (small currency values):
+- IQ_BASIC_EPS_INCL, IQ_DILUT_EPS_INCL, IQ_EPS_NORM, IQ_BV_SHARE, IQ_TBV_SHARE
+- IQ_EPS_EST, IQ_CFPS_EST, IQ_ANNUALIZED_DIVIDEND, IQ_CLOSEPRICE, IQ_LASTSALEPRICE
+
+**Turnover/Days Fields** (return counts):
+- IQ_AR_TURNS, IQ_INVENTORY_TURNS (times per year)
+- IQ_DAYS_SALES_OUT, IQ_DAYS_PAYABLE_OUT (number of days)
+
+---
+
+**15. Common Pitfalls**
+
+| Pitfall | What Happens | Fix |
+|---------|-------------|-----|
+| Period code off by one | 999 = prior FY, but some users think 999 = current FY | Remember: 1000 = current FY, subtract 1 for each prior period |
+| Forward estimate wrong period | Using 1000 for FY+1 estimates instead of 1001 | For estimates: 1001 = FY+1, 1002 = FY+2, 501 = FQ+1 |
+| Missing currency conversion | Comparing US company (USD) with UK company (GBP) without conversion | Always specify "USD","C" or "USD","H" for cross-currency comps |
+| "C" vs "H" conversion confusion | "C" converts ALL periods at today's rate; "H" uses period-end rate | Use "H" for historical trends, "C" for point-in-time comparisons |
+| Wrong reporting type | "L" returns latest (restated) data, "O" returns originally filed data | Use "L" for most analysis; use "O" for point-in-time studies |
+| Excel % format on CIQ % fields | Shows 2500% instead of 25% (CIQ returns 25.0, not 0.25) | Display as-is or use `0.0"%"` custom format |
+| Financial units mismatch | Apple revenue shows 394,328 — is that thousands, millions, or billions? | CIQ returns in company's reporting units. Apple reports in millions, so 394,328 = $394.3B |
+| CIQRANGE overwrites adjacent cells | Array spills down and overwrites whatever is below | Always leave empty space below CIQRANGE formulas |
+| IQ_NI vs IQ_NI_CF confusion | IQ_NI = net income (income statement), IQ_NI_CF = net income (cash flow statement starting point) | Use IQ_NI for income statement analysis, IQ_NI_CF for cash flow reconciliation |
+| Estimate fields without forward period | IQ_EPS_EST with period 1000 returns current-period estimate, not FY+1 | Use 1001 for FY+1, 1002 for FY+2 explicitly |
+| Stale data after add-in disconnect | Formulas show old values or #VALUE! | Refresh via CIQ add-in: Capital IQ > Refresh Data |
+| #VALUE! error | Formula syntax is wrong, or the ticker/field combination is invalid | Check ticker format, field name spelling, and period code |
+| Fiscal year misalignment in comps | Apple (Sept FY) vs Microsoft (June FY) — "current year" means different calendar periods | Use calendar year (10000) or LTM (2000) for apples-to-apples comparison |
+| _FWD multiples undefined period | IQ_TEV_EBITDA_FWD uses NTM, not a specific forward fiscal year | If you need FY+1 specifically, compute it: =CIQ("AAPL","IQ_TEV")/CIQ("AAPL","IQ_EBITDA_EST",1001) |
+
+---
+
+**16. Example Formulas (Natural Language Interpretations)**
+=CIQ("AAPL","IQ_TOTAL_REV",IQ_FY)
+→ Retrieves Apple's latest full fiscal-year total revenue.
+
+=CIQ("GOOGL","IQ_TOTAL_REV",IQ_FY,"8/1/2004","LFR","P","EUR","C")
+→ Retrieves Alphabet's fiscal-year total revenue as it was reported as of August 1, 2004, based on period date, converted into EUR using current FX.
+
+=CIQ("AMZN","IQ_EBITDA",IQ_LTM)
+→ Retrieves Amazon's trailing twelve-month EBITDA.
+
+=CIQ(B1,"IQ_TOTAL_REV",IQ_FY)
+→ Retrieves latest fiscal-year revenue for whichever ticker is stored in cell B1.
+
+=CIQ("NVDA","IQ_GP",C2)
+→ Retrieves Nvidia's gross profit for the period code stored in C2 (e.g., 1000 for current FY, 999 for prior FY).
+
+=CIQ("AAPL","IQ_EPS_EST",1001,,"L","P","USD","C")
+→ FY+1 EPS estimate for Apple in USD at current FX rate.
+
+---
+
+**17. Top 50 One-Shot CapIQ Pulls**
+
+Quick-reference formulas for the most common analyst requests.
+
+**Pricing (1–5):**
+
+1. Last sale price:
+=CIQ("AAPL","IQ_LASTSALEPRICE")
+
+2. Close price:
+=CIQ("AAPL","IQ_CLOSEPRICE")
+
+3. 52-week high / low:
+=CIQ("AAPL","IQ_YEARHIGH")
+=CIQ("AAPL","IQ_YEARLOW")
+
+4. Daily volume:
+=CIQ("AAPL","IQ_VOLUME")
+
+5. VWAP:
+=CIQ("AAPL","IQ_VWAP")
+
+**Market Data (6–10):**
+
+6. Market cap:
+=CIQ("AAPL","IQ_MARKETCAP")
+
+7. Enterprise value:
+=CIQ("AAPL","IQ_TEV")
+
+8. Shares outstanding:
+=CIQ("AAPL","IQ_SHARESOUTSTANDING")
+
+9. 5-year beta:
+=CIQ("AAPL","IQ_BETA_5YR")
+
+10. Dividend yield:
+=CIQ("AAPL","IQ_DIVIDEND_YIELD")
+
+**Income Statement (11–17):**
+
+11. Annual revenue:
+=CIQ("AAPL","IQ_TOTAL_REV",IQ_FY)
+
+12. LTM revenue:
+=CIQ("AAPL","IQ_TOTAL_REV",IQ_LTM)
+
+13. EBITDA:
+=CIQ("AAPL","IQ_EBITDA",IQ_FY)
+
+14. LTM EBITDA:
+=CIQ("AAPL","IQ_EBITDA",IQ_LTM)
+
+15. Operating income:
+=CIQ("AAPL","IQ_OPER_INC",IQ_FY)
+
+16. Net income:
+=CIQ("AAPL","IQ_NI",IQ_FY)
+
+17. Diluted EPS:
+=CIQ("AAPL","IQ_DILUT_EPS_INCL",IQ_FY)
+
+**Balance Sheet (18–22):**
+
+18. Cash & equivalents:
+=CIQ("AAPL","IQ_CASH_EQUIV",IQ_FY)
+
+19. Total debt:
+=CIQ("AAPL","IQ_TOTAL_DEBT",IQ_FY)
+
+20. Net debt:
+=CIQ("AAPL","IQ_NET_DEBT",IQ_FY)
+
+21. Total assets:
+=CIQ("AAPL","IQ_TOTAL_ASSETS",IQ_FY)
+
+22. Total equity:
+=CIQ("AAPL","IQ_TOTAL_EQUITY",IQ_FY)
+
+**Cash Flow (23–26):**
+
+23. Cash from operations:
+=CIQ("AAPL","IQ_CASH_OPER",IQ_FY)
+
+24. Capital expenditures:
+=CIQ("AAPL","IQ_CAPEX",IQ_FY)
+
+25. Levered free cash flow:
+=CIQ("AAPL","IQ_LEVERED_FCF",IQ_FY)
+
+26. Unlevered free cash flow:
+=CIQ("AAPL","IQ_UNLEVERED_FCF",IQ_FY)
+
+**Valuation Ratios (27–32):**
+
+27. P/E ratio (trailing):
+=CIQ("AAPL","IQ_PE_EXCL")
+
+28. Forward P/E (NTM):
+=CIQ("AAPL","IQ_PE_EXCL_FWD")
+
+29. EV/EBITDA (trailing):
+=CIQ("AAPL","IQ_TEV_EBITDA")
+
+30. Forward EV/EBITDA (NTM):
+=CIQ("AAPL","IQ_TEV_EBITDA_FWD")
+
+31. Price/Book:
+=CIQ("AAPL","IQ_PBV")
+
+32. EV/Revenue:
+=CIQ("AAPL","IQ_TEV_TOTAL_REV")
+
+**Profitability (33–37):**
+
+33. Gross margin:
+=CIQ("AAPL","IQ_GROSS_MARGIN",IQ_FY)
+
+34. EBITDA margin:
+=CIQ("AAPL","IQ_EBITDA_MARGIN",IQ_FY)
+
+35. Net income margin:
+=CIQ("AAPL","IQ_NI_MARGIN",IQ_FY)
+
+36. Return on equity:
+=CIQ("AAPL","IQ_RETURN_EQUITY",IQ_FY)
+
+37. Return on assets:
+=CIQ("AAPL","IQ_RETURN_ASSETS",IQ_FY)
+
+**Consensus Estimates (38–45):**
+
+38. FY+1 EPS estimate:
+=CIQ("AAPL","IQ_EPS_EST",1001)
+
+39. FY+2 EPS estimate:
+=CIQ("AAPL","IQ_EPS_EST",1002)
+
+40. FY+1 revenue estimate:
+=CIQ("AAPL","IQ_REVENUE_EST",1001)
+
+41. FY+2 revenue estimate:
+=CIQ("AAPL","IQ_REVENUE_EST",1002)
+
+42. FY+1 EBITDA estimate:
+=CIQ("AAPL","IQ_EBITDA_EST",1001)
+
+43. NTM EPS estimate:
+=CIQ("AAPL","IQ_EPS_EST",6000)
+
+44. Consensus target price:
+=CIQ("AAPL","IQ_PRICE_TARGET")
+
+45. Analyst counts (buy / hold / sell):
+=CIQ("AAPL","IQ_EST_NUM_BUY")
+=CIQ("AAPL","IQ_EST_NUM_HOLD")
+=CIQ("AAPL","IQ_EST_NUM_SELL")
+
+**Leverage & Credit (46–48):**
+
+46. Total debt / EBITDA:
+=CIQ("AAPL","IQ_TOTAL_DEBT_EBITDA",IQ_FY)
+
+47. Interest coverage (EBIT / Interest):
+=CIQ("AAPL","IQ_EBIT_INT",IQ_FY)
+
+48. S&P long-term rating:
+=CIQ("AAPL","IQ_SP_LC_LT")
+
+**Historical & Growth (49–50):**
+
+49. Revenue 1-year growth:
+=CIQ("AAPL","IQ_TOTAL_REV_1YR_ANN_GROWTH",IQ_FY)
+
+50. EPS 1-year growth:
+=CIQ("AAPL","IQ_EPS_1YR_ANN_GROWTH",IQ_FY)
+
+---
+
+**18. Refreshing Data**
+
+If formulas show stale data or errors:
+1. Go to Capital IQ tab in Excel Ribbon
+2. Click "Refresh Data" or "Refresh All"
+3. If individual formulas fail, try re-entering the formula
+
+To check connection status: Capital IQ > Connection Status
+
+---
+
+**19. Data Limits**
+
+**IMPORTANT:** Capital IQ has limits on concurrent formula requests.
+- General rule: No more than ~5,000 formulas per workbook refresh
+- Large CIQRANGE queries can hit timeout limits — use CIQRANGEV for large historical pulls
+- If formulas return #VALUE!, reduce the number of concurrent requests and refresh again
+
+---
+
+**Final Checklist:**
+- What exact metric is needed? (Revenue? EBITDA? EPS? Free cash flow? Reported vs adjusted?)
+- What time frame is required? (Fiscal year? LTM? Next 12 months? A specific historical period?)
+- For estimates: did I specify the forward period code? (1001 = FY+1, 1002 = FY+2, 501 = FQ+1, 6000 = NTM)
+- What units are the numbers being returned in? (thousands? millions? billions? percentages? etc.) Make sure you make the correct multiplications or divisions based on the units Cap IQ returns so it is consistent with the rest of the spreadsheet you're building.
+- Is the field a percentage type? (Don't apply Excel % format — CIQ returns whole numbers for margins/returns)
+- Did I use cell references for the ticker (as opposed to hardcoding into the formula)?
+- Do I want the latest period or the latest reported period?
+- Should the number be in reported currency or converted currency?
+- Am I using the correct reporting modifier (L, LFR, LRP, etc.)?
+- Am I using the correct period mode (P vs F)?
+- If using numeric period codes, does the number in the cell match the intended period?
+- If using an as-of date, is that date correct?
+- Is there enough empty space below for CIQRANGE output?
+
+---
+
+**20. Data Items Reference**
+
+**Note:** This is a curated list of the most commonly used fields. Capital IQ supports additional data items not listed here (e.g., macro/economic data, PE fund data, identifier lists). Refer to the Capital IQ help documentation for the full catalog.
+
+**Income Statement:**
+| Field | Variable |
+|-------|----------|
+| Total Revenues | IQ_TOTAL_REV |
+| Cost Of Revenues | IQ_COST_REV |
+| Cost Of Goods Sold | IQ_COGS |
+| Gross Profit | IQ_GP |
+| Selling General & Admin Exp. | IQ_SGA_SUPPL |
+| R & D Exp. | IQ_RD_EXP |
+| Depreciation & Amort. | IQ_DA_SUPPL |
+| Operating Income | IQ_OPER_INC |
+| Net Interest Exp. | IQ_NET_INTEREST_EXP |
+| EBT Excl Unusual Items | IQ_EBT_EXCL |
+| Total Unusual Items | IQ_TOTAL_UNUSUAL |
+| EBT Incl Unusual Items | IQ_EBT |
+| Income Tax Expense | IQ_INC_TAX |
+| Earnings from Cont. Ops. | IQ_EARNING_CO |
+| Earnings of Discontinued Ops. | IQ_DO |
+| Net Income | IQ_NI |
+| NI to Common Excl Extra Items | IQ_NI_AVAIL_EXCL |
+| NI to Common Incl Extra Items | IQ_NI_AVAIL_INCL |
+| Basic EPS | IQ_BASIC_EPS_INCL |
+| Basic EPS Excl. Extra Items | IQ_BASIC_EPS_EXCL |
+| Diluted EPS | IQ_DILUT_EPS_INCL |
+| Diluted EPS Excl Extra Items | IQ_DILUT_EPS_EXCL |
+| Normalized Basic EPS | IQ_EPS_NORM |
+| Normalized Diluted EPS | IQ_DILUT_EPS_NORM |
+| Weighted Avg. Basic Shares Out. | IQ_BASIC_WEIGHT |
+| Weighted Avg. Diluted Shares Out. | IQ_DILUT_WEIGHT |
+| EBITDA | IQ_EBITDA |
+| EBITA | IQ_EBITA |
+| EBIT | IQ_EBIT |
+| EBITDAR | IQ_EBITDAR |
+| Normalized Net Income | IQ_NI_NORM |
+| Effective Tax Rate | IQ_EFFECT_TAX_RATE |
+
+**Balance Sheet:**
+| Field | Variable |
+|-------|----------|
+| Cash And Equivalents | IQ_CASH_EQUIV |
+| Short Term Investments | IQ_ST_INVEST |
+| Total Cash & ST Investments | IQ_CASH_ST_INVEST |
+| Accounts Receivable | IQ_AR |
+| Total Receivables | IQ_TOTAL_RECEIV |
+| Inventory | IQ_INVENTORY |
+| Total Current Assets | IQ_TOTAL_CA |
+| Gross Property, Plant & Equipment | IQ_GPPE |
+| Net Property, Plant & Equipment | IQ_NPPE |
+| Long-term Investments | IQ_LT_INVEST |
+| Total Intangibles | IQ_GW_INTAN |
+| Total Assets | IQ_TOTAL_ASSETS |
+| Accounts Payable | IQ_AP |
+| Short-term Borrowings | IQ_ST_DEBT |
+| Current Portion of Long Term Debt | IQ_CURRENT_PORT_DEBT |
+| Total Current Liabilities | IQ_TOTAL_CL |
+| Long-Term Debt | IQ_LT_DEBT |
+| Capital Leases | IQ_CAPITAL_LEASES |
+| Minority Interest | IQ_MINORITY_INTEREST |
+| Total Liabilities | IQ_TOTAL_LIAB |
+| Common Stock | IQ_COMMON |
+| Retained Earnings | IQ_RE |
+| Treasury Stock | IQ_TREASURY |
+| Total Pref. Equity | IQ_PREF_EQUITY |
+| Total Common Equity | IQ_TOTAL_COMMON_EQUITY |
+| Total Equity | IQ_TOTAL_EQUITY |
+| Total Liabilities And Equity | IQ_TOTAL_LIAB_EQUITY |
+| Book Value/Share | IQ_BV_SHARE |
+| Tangible Book Value | IQ_TBV |
+| Tangible Book Value/Share | IQ_TBV_SHARE |
+| Total Debt | IQ_TOTAL_DEBT |
+| Net Debt | IQ_NET_DEBT |
+| Total Current Debt | IQ_TOTAL_DEBT_CURRENT |
+| Total Non-Current Debt | IQ_TOTAL_DEBT_NON_CURRENT |
+| Total Capitalization | IQ_TOTAL_CAP |
+
+**Cash Flow Statement:**
+| Field | Variable |
+|-------|----------|
+| Net Income (CF) | IQ_NI_CF |
+| Depreciation & Amort., Total | IQ_DA_CF |
+| Stock-Based Compensation | IQ_STOCK_BASED_CF |
+| Asset Writedown & Restructuring | IQ_ASSET_WRITEDOWN_CF |
+| Change In Accounts Receivable | IQ_CHANGE_AR |
+| Change In Inventories | IQ_CHANGE_INVENTORY |
+| Change in Acc. Payable | IQ_CHANGE_AP |
+| Cash from Ops. | IQ_CASH_OPER |
+| Capital Expenditure | IQ_CAPEX |
+| Cash Acquisitions | IQ_CASH_ACQUIRE_CF |
+| Divestitures | IQ_DIVEST_CF |
+| Cash from Investing | IQ_CASH_INVEST |
+| Short Term Debt Issued | IQ_ST_DEBT_ISSUED |
+| Long-Term Debt Issued | IQ_LT_DEBT_ISSUED |
+| Total Debt Issued | IQ_TOTAL_DEBT_ISSUED |
+| Total Debt Repaid | IQ_TOTAL_DEBT_REPAID |
+| Issuance of Common Stock | IQ_COMMON_ISSUED |
+| Repurchase of Common | IQ_COMMON_REP |
+| Common Dividends Paid | IQ_COMMON_DIV_CF |
+| Total Dividends Paid | IQ_TOTAL_DIV_PAID_CF |
+| Cash from Financing | IQ_CASH_FINAN |
+| Net Change in Cash | IQ_NET_CHANGE |
+| Levered Free Cash Flow | IQ_LEVERED_FCF |
+| Unlevered Free Cash Flow | IQ_UNLEVERED_FCF |
+| EBITDA - Capex | IQ_EBITDA_CAPEX |
+| Change in Net Working Capital | IQ_CHANGE_NET_WORKING_CAPITAL |
+
+**Profitability Ratios:**
+| Field | Variable |
+|-------|----------|
+| Return on Assets % | IQ_RETURN_ASSETS |
+| Return on Equity % | IQ_RETURN_EQUITY |
+| Gross Margin % | IQ_GROSS_MARGIN |
+| SG&A Margin % | IQ_SGA_MARGIN |
+| EBITDA Margin % | IQ_EBITDA_MARGIN |
+| Net Income Margin % | IQ_NI_MARGIN |
+| Levered FCF Margin % | IQ_LFCF_MARGIN |
+| Payout Ratio | IQ_PAYOUT_RATIO |
+
+**Leverage & Efficiency Ratios:**
+| Field | Variable |
+|-------|----------|
+| Current Ratio | IQ_CURRENT_RATIO |
+| Quick Ratio | IQ_QUICK_RATIO |
+| Accounts Receivable Turnover | IQ_AR_TURNS |
+| Inventory Turnover | IQ_INVENTORY_TURNS |
+| Avg Days Sales Outstanding | IQ_DAYS_SALES_OUT |
+| Avg Days Payable Outstanding | IQ_DAYS_PAYABLE_OUT |
+| Total Debt/Equity | IQ_TOTAL_DEBT_EQUITY |
+| Total Debt/Capital | IQ_TOTAL_DEBT_CAPITAL |
+| EBIT / Interest Expense | IQ_EBIT_INT |
+| Capex as % of Revenues | IQ_CAPEX_PCT_REV |
+| Total Debt/EBITDA | IQ_TOTAL_DEBT_EBITDA |
+| Net Debt/EBITDA | IQ_NET_DEBT_EBITDA |
+
+**Growth Rates:**
+| Field | Variable |
+|-------|----------|
+| Total Revenues, 1 Yr Growth % | IQ_TOTAL_REV_1YR_ANN_GROWTH |
+| Gross Profit, 1 Yr Growth % | IQ_GP_1YR_ANN_GROWTH |
+| EBITDA, 1 Yr Growth % | IQ_EBITDA_1YR_ANN_GROWTH |
+| EBIT, 1 Yr Growth % | IQ_EBIT_1YR_ANN_GROWTH |
+| Net Income, 1 Yr Growth % | IQ_NI_1YR_ANN_GROWTH |
+| Diluted EPS, 1 Yr Growth % | IQ_EPS_1YR_ANN_GROWTH |
+| Cash from Operations, 1 Yr Growth % | IQ_CFO_1YR_ANN_GROWTH |
+| Capital Expenditures, 1 Yr Growth % | IQ_CAPEX_1YR_ANN_GROWTH |
+| Levered FCF, 1 Yr Growth % | IQ_LFCF_1YR_ANN_GROWTH |
+| Unlevered FCF, 1 Yr Growth % | IQ_UFCF_1YR_ANN_GROWTH |
+| Dividend per Share, 1 Yr Growth % | IQ_DPS_1YR_ANN_GROWTH |
+
+**Valuation Multiples (Trailing):**
+| Field | Variable |
+|-------|----------|
+| TEV/Total Revenues | IQ_TEV_TOTAL_REV |
+| TEV/EBITDA | IQ_TEV_EBITDA |
+| TEV/EBIT | IQ_TEV_EBIT |
+| TEV/Unlevered FCF | IQ_TEV_UFCF |
+| Market Cap/Levered FCF | IQ_MARKET_CAP_LFCF |
+| P/Diluted EPS before extra | IQ_PE_EXCL |
+| P/BV | IQ_PBV |
+| P/TangBV | IQ_PTBV |
+| P/Sales | IQ_PRICE_SALES |
+
+**Valuation Multiples (Forward NTM):**
+| Field | Variable |
+|-------|----------|
+| TEV/Forward Total Revenue | IQ_TEV_TOTAL_REV_FWD |
+| TEV/Forward EBITDA | IQ_TEV_EBITDA_FWD |
+| TEV/Forward EBIT | IQ_TEV_EBIT_FWD |
+| P/Forward Diluted EPS | IQ_PE_EXCL_FWD |
+| PEG Ratio | IQ_PEG_FWD |
+| P/Forward CFPS | IQ_PRICE_CFPS_FWD |
+
+**Consensus Estimates:**
+| Field | Variable |
+|-------|----------|
+| Primary EPS Estimate | IQ_EPS_EST |
+| Revenue Estimate | IQ_REVENUE_EST |
+| EBITDA Estimate | IQ_EBITDA_EST |
+| EBIT Estimate | IQ_EBIT_EST |
+| Net Income Estimate | IQ_NI_EST |
+| Cash Flow Per Share Estimate | IQ_CFPS_EST |
+| Avg Broker Recommendation (Text) | IQ_AVG_BROKER_REC |
+| Avg Broker Recommendation (#) | IQ_AVG_BROKER_REC_NO |
+| Price Target | IQ_PRICE_TARGET |
+| Est. Annual EPS Growth - 5 Yr | IQ_EST_EPS_GROWTH_5YR |
+| # of Analyst Buy Recomm. | IQ_EST_NUM_BUY |
+| # of Analyst Hold Recom. | IQ_EST_NUM_HOLD |
+| # of Analyst Sell Recom. | IQ_EST_NUM_SELL |
+| EPS Surprise % | IQ_EST_EPS_SURPRISE_PERCENT |
+| Revenue Surprise % | IQ_EST_REV_SURPRISE_PERCENT |
+| Estimated Next Earnings Date | IQ_EST_NEXT_EARNINGS_DATE |
+
+**Market Data & Pricing:**
+| Field | Variable |
+|-------|----------|
+| Last Sale Price | IQ_LASTSALEPRICE |
+| Close Price | IQ_CLOSEPRICE |
+| Dividend Adjusted Close Price | IQ_CLOSEPRICE_ADJ |
+| 52 Week High Price | IQ_YEARHIGH |
+| 52 Week High Date | IQ_YEARHIGH_DATE |
+| 52 Week Low Price | IQ_YEARLOW |
+| 52 Week Low Date | IQ_YEARLOW_DATE |
+| Daily Volume | IQ_VOLUME |
+| Daily Value Traded | IQ_VALUE_TRADED |
+| Market Capitalization | IQ_MARKETCAP |
+| Enterprise Value | IQ_TEV |
+| Shares Outstanding | IQ_SHARESOUTSTANDING |
+| 5 Year Beta | IQ_BETA_5YR |
+| 5 Year Price Volatility | IQ_PRICE_VOL_HIST_5YR |
+| Dividend Yield | IQ_DIVIDEND_YIELD |
+| Annualized Dividend Per Share | IQ_ANNUALIZED_DIVIDEND |
+| VWAP | IQ_VWAP |
+
+**Credit & Ratings:**
+| Field | Variable |
+|-------|----------|
+| S&P Long-Term Company Rating | IQ_SP_LC_LT |
+| S&P Long-Term Company Rating Date | IQ_SP_LC_DATE_LT |
+| S&P Outlook/Credit Watch | IQ_SP_OUTLOOK_WATCH |
+| S&P Long Term Security Rating | IQ_SP_ISSUE_LT |
+| S&P Security Rating Date | IQ_SP_ISSUE_DATE |
+| S&P Security Rating Action | IQ_SP_ISSUE_ACTION |
+
+**Debt Detail:**
+| Field | Variable |
+|-------|----------|
+| Total Commercial Paper | IQ_CP |
+| Total Revolving Credit | IQ_RC |
+| Total Term Loans | IQ_TERM_LOANS |
+| Total Sr. Bonds and Notes | IQ_SR_BONDS_NOTES |
+| Total Sub. Bonds and Notes | IQ_SUB_BONDS_NOTES |
+| Total Senior Debt | IQ_SR_DEBT |
+| Total Sub. Debt | IQ_TOTAL_SUB_DEBT |
+| Total Convertible Debt | IQ_CONVERT |
+| Senior Debt/EBITDA | IQ_SR_DEBT_EBITDA |
+| Senior Debt/(EBITDA-CAPEX) | IQ_SR_DEBT_EBITDA_CAPEX |
+
+**Fixed Income:**
+| Field | Variable |
+|-------|----------|
+| Issue Name | IQ_ISSUE_NAME |
+| Issuer | IQ_ISSUER |
+| Amount Outstanding | IQ_AMT_OUT |
+| Maturity Date | IQ_MATURITY_DATE |
+| Offering Coupon | IQ_OFFER_COUPON |
+| Current Price | IQ_BOND_PRICE |
+| YTW | IQ_YTW |
+| STW | IQ_STW |
+| Callable Feature | IQ_CALLABLE |
+
+**Ownership:**
+| Field | Variable |
+|-------|----------|
+| Institutional Holder | IQ_INSTITUTIONAL_OWNER |
+| Institutional Holder Total Shares | IQ_INSTITUTIONAL_SHARES |
+| Insider Holder | IQ_INSIDER_OWNER |
+| Insider Holder Total Shares | IQ_INSIDER_SHARES |
+| Holder Name | IQ_HOLDER_NAME |
+| Holder CIQ ID | IQ_HOLDER_CIQID |
+| Holder Total Shares | IQ_HOLDER_SHARES |
+| Mutual Fund Name | IQ_HOLDER_FUND_NAME |
+| Mutual Fund Shares Held | IQ_HOLDER_FUND_SHARES |
+| Mutual Fund % of Shares Outstanding | IQ_HOLDER_FUND_PERCENT |
+
+**Company Information:**
+| Field | Variable |
+|-------|----------|
+| Company Name | IQ_COMPANY_NAME |
+| Business Description | IQ_BUSINESS_DESCRIPTION |
+| Headquarters | IQ_COMPANY_ADDRESS |
+| Primary Industry | IQ_PRIMARY_INDUSTRY |
+| Stock Exchange | IQ_EXCHANGE |
+| Full Time Employees | IQ_FULL_TIME |
+| Number of Shareholders | IQ_NUMBER_SHAREHOLDERS |
+
+**Segment Data:**
+| Field | Variable |
+|-------|----------|
+| Business Segment Name | IQ_BUS_SEG_NAME |
+| Business Segment Description | IQ_BUS_SEG_DESCRIPTION |
+| Business Segment Revenue | IQ_BUS_SEG_REV |
+| Business Segment Assets | IQ_BUS_SEG_ASSETS |
+| Geographic Segment Name | IQ_GEO_SEG_NAME |
+| Geographic Segment Revenue | IQ_GEO_SEG_REV |
+| Geographic Segment Assets | IQ_GEO_SEG_ASSETS |
+
+**Index & Screening:**
+| Field | Variable |
+|-------|----------|
+| Index Constituents | IQ_CONSTITUENTS |
+| Quick Comps | IQ_QUICK_COMP |
+| All Transactions | IQ_TRANSACTION_LIST |
+| M&A Transactions | IQ_TRANSACTION_LIST_MA |
+
+**Range Functions:**
+| Function | Syntax |
+|----------|--------|
+| Pricing Range | CIQRANGE(T, Market Item, D1, D2) |
+| Financials Range | CIQRANGE(T, Financial Metric, Period, D2) |
+| Multiples Range | CIQRANGE(T, Multiple Metric, Period, D1, D2) |
+| Dividends Range | CIQRANGE(T, Dividend Metric, D1, D2) |
+| News Headlines | CIQRANGE(T, IQ_NEWS, Start Rank, End Rank) |
+| Key Developments | CIQRANGE(T, IQ_KEY_DEV_ID, D1, D2, Categories) |
+| Events | CIQRANGE(T, IQ_EVENT_ID, D1, D2, Categories) |
+| Quick Comps | CIQRANGE(T, IQ_QUICK_COMP, Start Rank, End Rank) |