ValuationResult

{
  "$schema": "https://json-schema.org/draft/2020-12/schema",
  "$id": "https://artifacts.apis.io/equity-rank-com/json-schema/equity-rank-com-valuation-result-schema.json",
  "title": "ValuationResult",
  "x-generated": "2026-11-07",
  "x-method": "derived",
  "x-generator": "derive-json-schema.py",
  "x-source": "openapi/equity-rank-com-openapi.yml#/components/schemas/ValuationResult",
  "properties": {
    "symbol": {
      "type": "string",
      "title": "Symbol"
    },
    "price": {
      "type": "number",
      "title": "Price"
    },
    "sector": {
      "type": "string",
      "title": "Sector"
    },
    "best_fit": {
      "anyOf": [
        {
          "$ref": "#/$defs/BestFit"
        },
        {
          "type": "null"
        }
      ]
    },
    "dcf_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Dcf Fair Value"
    },
    "dcf_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Dcf Margin Of Safety"
    },
    "dcf_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Dcf Unavailable Reason"
    },
    "pe_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pe Fair Value"
    },
    "pe_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pe Margin Of Safety"
    },
    "pe_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pe Unavailable Reason"
    },
    "pb_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pb Fair Value"
    },
    "pb_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pb Margin Of Safety"
    },
    "pb_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pb Unavailable Reason"
    },
    "ps_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ps Fair Value"
    },
    "ps_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ps Margin Of Safety"
    },
    "ps_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ps Unavailable Reason"
    },
    "ev_ebitda_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Ebitda Fair Value"
    },
    "ev_ebitda_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Ebitda Margin Of Safety"
    },
    "ev_ebitda_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Ebitda Unavailable Reason"
    },
    "graham_number": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Graham Number"
    },
    "graham_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Graham Margin Of Safety"
    },
    "graham_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Graham Unavailable Reason"
    },
    "ddm_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ddm Fair Value"
    },
    "ddm_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ddm Margin Of Safety"
    },
    "ddm_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ddm Unavailable Reason"
    },
    "peg_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Peg Fair Value"
    },
    "peg_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Peg Margin Of Safety"
    },
    "peg_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Peg Unavailable Reason"
    },
    "consensus_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Consensus Fair Value"
    },
    "consensus_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Consensus Margin Of Safety"
    },
    "methods_used": {
      "type": "integer",
      "title": "Methods Used"
    },
    "best_method": {
      "type": "string",
      "title": "Best Method"
    },
    "last_updated": {
      "type": "string",
      "title": "Last Updated"
    },
    "data_quality": {
      "type": "string",
      "title": "Data Quality",
      "description": "'full' | 'partial' | 'limited' — indicates data completeness",
      "default": "full"
    },
    "yfinance_fallback": {
      "type": "boolean",
      "title": "Yfinance Fallback",
      "description": "True when financials were sourced from yfinance fallback",
      "default": false
    },
    "derived_fields": {
      "items": {},
      "type": "array",
      "title": "Derived Fields",
      "description": "Fields estimated via mathematical derivation"
    },
    "calculated_growth_rate": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Calculated Growth Rate",
      "description": "Forward earnings growth rate (decimal). DTL/causal model when sector driver available; DuPont or historical blend fallback."
    },
    "growth_rate_model": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Growth Rate Model",
      "description": "Which growth model tier was used, e.g. 'DTL/Gold spot', 'DTL/revenue', 'DuPont', 'historical_blend'"
    },
    "eps_beat_probability": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Eps Beat Probability",
      "description": "Fraction of last 8 quarters beating consensus EPS estimate (0.0–1.0). None when fewer than 4 quarters of data available."
    },
    "accruals_ratio": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Accruals Ratio",
      "description": "Sloan accruals ratio: (NetIncome - OCF) / TotalAssets. >0.10 suggests earnings inflation risk; <-0.10 is conservative."
    },
    "piotroski_f_score": {
      "anyOf": [
        {
          "type": "integer"
        },
        {
          "type": "null"
        }
      ],
      "title": "Piotroski F Score",
      "description": "Piotroski F-Score 0-9. >=7 = strong fundamentals; <=3 = weak."
    },
    "beneish_m_score": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Beneish M Score",
      "description": "Beneish M-Score. >-1.78 = probable manipulation risk. NULL for banks, insurance, REITs, utilities (model not applicable)."
    },
    "beneish_flag": {
      "anyOf": [
        {
          "type": "boolean"
        },
        {
          "type": "null"
        }
      ],
      "title": "Beneish Flag",
      "description": "True when beneish_m_score > -1.78. NULL for suppressed sectors."
    },
    "altman_z_score": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Altman Z Score",
      "description": "Altman Z-score. <1.81 = distress zone."
    },
    "earnings_inflated_flag": {
      "anyOf": [
        {
          "type": "boolean"
        },
        {
          "type": "null"
        }
      ],
      "title": "Earnings Inflated Flag",
      "description": "True when reported earnings outpace operating cash flow (batch row)."
    },
    "red_flag_checks": {
      "anyOf": [
        {
          "additionalProperties": {
            "anyOf": [
              {
                "type": "boolean"
              },
              {
                "type": "null"
              }
            ]
          },
          "type": "object"
        },
        {
          "type": "null"
        }
      ],
      "title": "Red Flag Checks",
      "description": "app.services.red_flags.evaluate: each check -> True flagged / False clear / None no data. Display only."
    },
    "roic_trend": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Roic Trend",
      "description": "ROIC trajectory: 'improving' | 'flat' | 'declining'."
    },
    "margin_trend": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Margin Trend",
      "description": "Operating margin trajectory: 'expanding' | 'stable' | 'compressing'."
    },
    "momentum_12m_1m": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Momentum 12M 1M",
      "description": "12m-1m price momentum factor: (price_1m_ago / price_12m_ago) - 1. Positive = upward trend; excludes last month per Jegadeesh-Titman."
    },
    "implied_earnings_move": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Implied Earnings Move",
      "description": "ATM straddle / current_price for nearest post-earnings expiry. Market-implied expected move magnitude (e.g. 0.08 = 8%). Only populated when a future earnings date is within 90 days."
    },
    "pmi_multiplier_applied": {
      "anyOf": [
        {
          "type": "boolean"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pmi Multiplier Applied",
      "description": "True when the ISM Manufacturing PMI multiplier adjusted the Tier 1 or Tier 2 earnings growth estimate for this sector. Indicated by '+PMI' suffix in growth_rate_model label."
    },
    "forward_eps": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Eps",
      "description": "Forward EPS (analyst consensus when available; otherwise TTM EPS x (1 + blended growth))"
    },
    "forward_eps_source": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Eps Source",
      "description": "'analyst' when forward EPS is sourced from consensus estimates; 'analyst_fy2' when the second forward fiscal year replaced a trough FY1 (see forward_eps_note); 'modelled' when synthetic"
    },
    "forward_eps_note": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Eps Note",
      "description": "Input-selection code for the forward P/E method when it ran on something other than the FY1 consensus (e.g. 'fy1_trough_fy2_fallback'); None otherwise"
    },
    "forward_pe_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Pe Fair Value",
      "description": "Forward EPS x Sector P/E multiple"
    },
    "forward_pe_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Pe Margin Of Safety",
      "description": "MoS% using forward P/E fair value"
    },
    "forward_pe_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Pe Unavailable Reason",
      "description": "Abstention code when forward P/E produced no fair value"
    },
    "implied_growth_rate": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Implied Growth Rate",
      "description": "Reverse DCF implied growth rate (decimal)"
    },
    "trailing_eps": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Trailing Eps",
      "description": "TTM EPS used by trailing P/E fair value"
    },
    "trailing_pe_ratio": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Trailing Pe Ratio",
      "description": "Trailing P/E ratio (price / TTM EPS)"
    },
    "forward_pe_ratio": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Pe Ratio",
      "description": "Forward P/E ratio from AV OVERVIEW"
    },
    "analyst_consensus_target": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Analyst Consensus Target",
      "description": "Street consensus price target (AV AnalystTargetPrice)"
    },
    "eps_estimate_current_year": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Eps Estimate Current Year",
      "description": "Consensus EPS estimate for current fiscal year"
    },
    "eps_estimate_next_year": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Eps Estimate Next Year",
      "description": "Consensus EPS estimate for next fiscal year"
    },
    "revenue_estimate_current_year": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Revenue Estimate Current Year",
      "description": "Consensus revenue estimate for current fiscal year"
    },
    "revenue_estimate_next_year": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Revenue Estimate Next Year",
      "description": "Consensus revenue estimate for next fiscal year"
    },
    "forward_ps_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Ps Fair Value",
      "description": "Forward revenue per share x sector P/S multiple"
    },
    "forward_ps_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Ps Margin Of Safety",
      "description": "MoS% using forward P/S fair value"
    },
    "forward_ps_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Ps Unavailable Reason"
    },
    "forward_ev_ebitda_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Ev Ebitda Fair Value",
      "description": "Forward EBITDA per share x sector EV/EBITDA multiple"
    },
    "forward_ev_ebitda_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Ev Ebitda Margin Of Safety",
      "description": "MoS% using forward EV/EBITDA fair value"
    },
    "forward_ev_ebitda_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Ev Ebitda Unavailable Reason"
    },
    "forward_pfcf_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Pfcf Fair Value",
      "description": "Forward FCF per share x sector P/FCF multiple"
    },
    "forward_pfcf_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Pfcf Margin Of Safety",
      "description": "MoS% using forward P/FCF fair value"
    },
    "forward_pfcf_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Forward Pfcf Unavailable Reason"
    },
    "projected_best_fit_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Projected Best Fit Fair Value",
      "description": "NTM fair value using the forward version of the best-fit method"
    },
    "projected_best_fit_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Projected Best Fit Margin Of Safety",
      "description": "MoS% at projected best-fit fair value"
    },
    "projected_best_fit_method": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Projected Best Fit Method",
      "description": "Forward method used, e.g. 'forward_ps', 'forward_pe', 'forward_ev_ebitda'"
    },
    "pfcf_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pfcf Fair Value"
    },
    "pfcf_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pfcf Margin Of Safety"
    },
    "pfcf_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pfcf Unavailable Reason"
    },
    "evfcf_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Evfcf Fair Value"
    },
    "evfcf_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Evfcf Margin Of Safety"
    },
    "evfcf_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Evfcf Unavailable Reason"
    },
    "justified_pb_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Justified Pb Fair Value"
    },
    "justified_pb_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Justified Pb Margin Of Safety"
    },
    "justified_pb_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Justified Pb Unavailable Reason"
    },
    "epv_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Epv Fair Value"
    },
    "epv_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Epv Margin Of Safety"
    },
    "epv_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Epv Unavailable Reason"
    },
    "ev_ebit_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Ebit Fair Value"
    },
    "ev_ebit_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Ebit Margin Of Safety"
    },
    "ev_ebit_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Ebit Unavailable Reason"
    },
    "three_stage_dcf_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Three Stage Dcf Fair Value"
    },
    "three_stage_dcf_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Three Stage Dcf Margin Of Safety"
    },
    "three_stage_dcf_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Three Stage Dcf Unavailable Reason"
    },
    "ffo_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ffo Fair Value",
      "description": "FFO-based fair value (REIT-specific)"
    },
    "ffo_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ffo Margin Of Safety"
    },
    "ffo_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ffo Unavailable Reason"
    },
    "ffo_per_share": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ffo Per Share",
      "description": "FFO per share (Net Income + D&A, per share)"
    },
    "pffo_multiple_used": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Pffo Multiple Used",
      "description": "P/FFO multiple applied"
    },
    "paffo_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Paffo Fair Value",
      "description": "P/AFFO fair value (estimated AFFO = FFO - 0.20*capex)"
    },
    "paffo_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Paffo Margin Of Safety"
    },
    "paffo_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Paffo Unavailable Reason"
    },
    "affo_payout_coverage": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Affo Payout Coverage",
      "description": "AFFO_ps / dividend_ps ratio; None if dividend_ps unavailable"
    },
    "affo_payout_coverage_flag": {
      "anyOf": [
        {
          "type": "boolean"
        },
        {
          "type": "null"
        }
      ],
      "title": "Affo Payout Coverage Flag",
      "description": "True when coverage < 1.0 (distributions exceed estimated AFFO)"
    },
    "shareholder_yield_total": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Shareholder Yield Total",
      "description": "Boudoukh et al. (2007): (div + buybacks - net_debt_issuance) / market_cap; decimal"
    },
    "capital_allocation_score": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Capital Allocation Score",
      "description": "Capital allocation quality score 0-100 (50% spread / 30% SGR / 20% goodwill trend); None if all inputs missing"
    },
    "roic": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Roic",
      "description": "NOPAT / invested_capital (decimal); None if invested_capital <= 0"
    },
    "economic_spread": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Economic Spread",
      "description": "ROIC - cost_of_equity (CAPM rf+beta*ERP; ERP dynamic via app_config, default 0.055); positive = returns exceed cost of capital"
    },
    "goodwill_heavy_acquisition_flag": {
      "anyOf": [
        {
          "type": "boolean"
        },
        {
          "type": "null"
        }
      ],
      "title": "Goodwill Heavy Acquisition Flag",
      "description": "True when goodwill/assets > 0.30 AND economic_spread < 0 (factual capital allocation signal)"
    },
    "ohlson_o_score": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ohlson O Score",
      "description": "Ohlson (1980) logit O-Score; None for Financials/Banks/Insurance/REIT"
    },
    "default_probability": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Default Probability",
      "description": "P(default within 2yr) = 1/(1+exp(-O)); range [0,1]"
    },
    "cash_conversion_ratio": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Cash Conversion Ratio",
      "description": "OCF / Net_Income; None when NI <= 0; < 0.7 = weak cash backing"
    },
    "revenue_quality_ratio": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Revenue Quality Ratio",
      "description": "DeltaAR / DeltaRevenue; None when flat revenue; > 1.2 = receivables growing faster than revenue"
    },
    "dio_trend": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Dio Trend",
      "description": "DIO_t - DIO_t-1 (days); None when COGS <= 0; positive = inventory building"
    },
    "ev_sales_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Sales Fair Value",
      "description": "EV/Sales-based fair value"
    },
    "ev_sales_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Sales Margin Of Safety"
    },
    "ev_sales_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Sales Unavailable Reason"
    },
    "ev_sales_multiple_used": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Ev Sales Multiple Used",
      "description": "EV/Sales multiple applied"
    },
    "high_multiple_model": {
      "type": "boolean",
      "title": "High Multiple Model",
      "description": "True when valuation relies primarily on revenue-multiple methods",
      "default": false
    },
    "rnpv_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Fair Value",
      "description": "rNPV per-share equity model estimate (base case): pipeline value + net cash, per share. Model estimate under stated assumptions — not advice or a return promise; clinical-stage drug outcomes are binary and uncertain, and a program can fail with its modeled value falling toward zero."
    },
    "rnpv_fair_value_low": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Fair Value Low",
      "description": "rNPV per-share estimate under the low peak-sales band (0.4x prior)"
    },
    "rnpv_fair_value_high": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Fair Value High",
      "description": "rNPV per-share estimate under the high peak-sales band (2.5x prior)"
    },
    "rnpv_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Margin Of Safety"
    },
    "rnpv_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Unavailable Reason"
    },
    "rnpv_program_count": {
      "anyOf": [
        {
          "type": "integer"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Program Count",
      "description": "Count of unique clinical programs valued in the rNPV"
    },
    "rnpv_lead_phase": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Lead Phase",
      "description": "Canonical phase of the most-advanced program (PHASE1/PHASE2/PHASE3/FILED/PHASE4)"
    },
    "rnpv_pipeline_value_per_share": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Pipeline Value Per Share",
      "description": "Pipeline-only rNPV per share (before net cash)"
    },
    "rnpv_net_cash_per_share": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv Net Cash Per Share",
      "description": "Net cash (cash − total debt) per share added to pipeline value"
    },
    "rnpv_in_consensus": {
      "anyOf": [
        {
          "type": "boolean"
        },
        {
          "type": "null"
        }
      ],
      "title": "Rnpv In Consensus",
      "description": "True when rNPV carried non-zero weight in the consensus blend (shadow gate live)"
    },
    "nav_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Nav Fair Value",
      "description": "NAV proxy fair value for commodity producers — normalized FCF / depletion-adjusted discount rate"
    },
    "nav_margin_of_safety": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "Nav Margin Of Safety"
    },
    "nav_unavailable_reason": {
      "anyOf": [
        {
          "type": "string"
        },
        {
          "type": "null"
        }
      ],
      "title": "Nav Unavailable Reason"
    },
    "pe_midcycle_fair_value": {
      "anyOf": [
        {
          "type": "number"
        },
        {
          "type": "null"
        }
      ],
      "title": "

# --- truncated at 32 KB (75 KB total) ---
# Full source: https://artifacts.apis.io/equity-rank-com/json-schema/equity-rank-com-valuation-result-schema.json