ISS ESG Economic Value Added Data (EVA)

EVA (Economic Value Added) is an established standard in measuring, analyzing, projecting, valuing, and discounting a firm’s underlying economic profit rather than its accounting profit. The EVA platform allows investors to parse through thousands of companies globally with comparable accounting adjustments to drive informed investment decision making on a systematic basis. With coverage of approximately 21,000 public companies, this solution enables investors to measure, analyze, and value corporate performance and inform investing decisions. Founded in 2006 and acquired by ISS in 2018, EVA provides investment professionals insight to determine the quality and valuation of a portfolio company. The EVA Framework: a powerful platform & framework that converts accounting profits into economic profit • Superior to traditional measures of profit: EVA cuts through accounting distortions and charges for the use of capital • Consistent, transparent framework: EVA is comparable across companies, industries and countries • Style agnostic: provides an unbiased view of Quality, Value, and Growth investment opportunities • Leading indicators: EVA metrics are predictive of future stock prices EVA in the Investment Decision Process: • Screening and Idea Generation: narrow the universe of investible ideas to those that are likely to outperform using an objective investment framework that is effective regardless of investment style. • Single stock and multiple stock analysis: analyze the overall EVA profitability of a company, the choices management made to drive that EVA, and value the company with unique metrics. • Portfolio analysis: View a fund’s exposure to EVA relative to benchmark. EVA data is typically derived from company filings, as well as ongoing event-driven data updates as reflected in public disclosure, press releases and company web sites. In addition, ISS subscribes to a number of critical, paid data services that is also factored into the EVA analysis. Data is used by a broad range of institutional investors, asset managers, asset owners, fund managers, banks, government institutions, universities and research firms.

EVA（Economic Value Added，经济增加值）是一套成熟的标准体系，用于衡量、分析、预测、估值及折现企业的实质经济利润，而非会计利润。EVA平台可让投资者对全球数千家公司开展基于标准化会计调整的可比分析，从而系统地辅助投资者做出明智的投资决策。该方案覆盖约21000家上市公司，能够帮助投资者衡量、分析并评估企业经营业绩，为投资决策提供支撑。
该体系创立于2006年，并于2018年被ISS收购，可为投资专业人士提供洞察，以判断投资组合公司的质量与估值水平。
EVA框架：可将会计利润转化为经济利润的强大平台与体系，具备以下核心特性：
• 优于传统利润衡量指标：EVA可穿透会计失真，针对资本使用计提成本
• 统一透明的框架：EVA可在不同企业、行业与国家间保持可比
• 风格无关性：可为质量型、价值型与增长型投资机会提供无偏视角
• 领先指标：EVA指标可预测未来股价走势
EVA在投资决策流程中的应用：
• 标的筛选与投资创意生成：通过不受投资风格限制的客观投资框架，将可投资标的池缩小至有望跑赢市场的标的
• 单只股票与多只股票组合分析：分析企业整体EVA盈利能力、管理层为提升EVA水平所做出的经营决策，并通过专属指标对企业进行估值
• 投资组合分析：查看基金相对于业绩基准的EVA配置敞口
EVA数据通常源自企业备案披露文件，以及公共披露信息、新闻稿与公司官网中体现的持续事件驱动数据更新。此外，ISS还订阅了多项关键付费数据服务，这些数据也会被纳入EVA分析体系。
该数据被广泛应用于各类机构投资者、资产管理机构、资产所有者、基金经理、银行、政府机构、高校及研究机构。

搜集汇总

背景与挑战

背景概述

ISS ESG EVA数据集覆盖约2.1万家上市公司，通过将会计利润转化为经济利润的标准化框架，为投资者提供跨公司、行业和国家的可比性分析。该数据源自企业申报文件和实时事件更新，被广泛用于股票筛选、组合分析和投资决策支持。