Hi,
I noticed the variable Historic Price to Tangible Common Equity-5 Year Average is n/a for many stocks. E.g., for almost half of all NYSE-listed stocks it is n/a.

Looking at other 5-year average variables, I noticed many n/a's as well:
- Historic Price To Book, Total Equity-5 Year Average: n/a for 1/3 of NYSE-listed stocks
- Historic P/E including Extraordinary Items, Avg. diluted shares outstanding-5 Year Average: n/a for 1/2 of NYSE-listed stock
etc.

It seems there is a similar issue with the 3-year averages.

I assume this has to do with the fact that the most recent (2020) numbers going in to these averages are not yet reported?

If that indeed explains the phenomenon, would it be possible to adjust these variables, or construct new variables, which average over the most recent 5-year _reported_ figures, so the n/a's will disappear?

For the P/E variables, it looks like there are no negative values. As a result, if a company had negative earnings at some point over the period, it would probably return n/a. That might explain why there are more historic price to book non-NA values than historic P/E values.

Looking at NYSE listings, it looks like most of the N/A Historic Price to Book values are either:

1) Companies that have been trading for less than the time period

2) Funds, SPACs, and other non-operating financial entities

3) Non-primary share listings (i.e. preferred stock, secondary share classes, etc.)

4) Occasionally companies missing recent pricing (this usually corrects itself in a future update)

I don't think most of the missing values are companies that have issued a press release but not yet filed a full report for the most recent period (but that may also be a factor for some of them).

Ah, I see. Many thanks for your explanation.