Valuation river chart
Eight percentile bands drawn from a stock's own valuation history, with the close price laid on top — so you can see at a glance whether price is swimming in the cheap or the expensive part of its range. The difference from the usual river chart: every historical point uses the earnings and book value that were actually published by that date, not the latest quarter backfilled across the whole series. No look-ahead bias, so a backtest reading this series is not cheating.
- "Is a PER of 20 expensive?" — without the stock's own distribution that number means nothing.
- Most river charts paint the entire history with today's financials. Screen on that and you are selecting partly on restatements published months after the signal date.
- Our snapshot series freezes what was knowable each day, so every segment of the river survives the "what did you know at the time" question.
Live example
Enter a Taiwan ticker and pick the PER, PBR or dividend yield view. The free tier covers the demo ticker 2330; any-ticker access is an Indie-tier feature.
Bands run bottom to top, cheapest to most expensive (0 / 12.5 / 25 … 100th percentile). The black line is the close. Drag to zoom. Every figure is the version available on that date.
How it is computed
Deterministic recomputation end to end — no fitted or hidden parameters.
Pull the snapshot series
Take roughly a year of daily valuation snapshots for the ticker (PER, PBR, dividend yield). Each point is the version the official source published on that date, frozen and never rewritten.
Recover that day's fundamentals
Back out implied earnings per share (close ÷ PER), book value per share (close ÷ PBR) and dividend per share (close × yield) from the close and the ratio as they stood that day.
Rank the historical distribution
Cut the ratio's history into nine percentile lines at 0 / 12.5 / 25 … 100, by sorting and interpolating. Deterministic — same inputs, same lines, every time.
Weave the bands
For each date, percentile ratio × that day's fundamentals gives eight price bands; the close is drawn on top. Price low in the bands means cheap against its own history, high means expensive.
Where we stop
Fewer than 20 trading days of snapshots and we draw nothing. Tickers with zero or missing yield are not forced onto a yield chart. The bands locate valuation — they are not a buy or sell signal.
Terms in plain English
Run it yourself
The free tier needs no signup — call this feature's API straight away with the demo key. Unlock as-of history and full ticker coverage on a paid tier.
FAQ
How do I read the river chart?
Eight bands span the stock's own valuation history, cheapest at the bottom and most expensive at the top (0, 12.5, 25 … 100th percentile). The black line is the close. Where the line sits tells you whether the market is paying more or less for this company than it usually does.
How is this different from the river charts elsewhere?
Every historical point uses the earnings and book value that had actually been published by that date. The common approach backfills the latest quarter across the whole series, which means a backtest run on it is selecting partly on restatements published after the signal date — the exact bias the chart is supposed to help you avoid.
Where do the fundamentals behind each band come from?
They are backed out of the close and the ratio as of that day: close divided by PER gives implied earnings per share, close divided by PBR gives book value per share, close times yield gives dividend per share. Deterministic, no fitted parameters, recomputable from the API.
Is it free?
The demo ticker 2330 is open on the free tier with no signup. Any-ticker river charts are an Indie-tier feature.