← fcf_ni_divergence (all companies) · EIX (all signals) · all methodology
fcf_ni_divergence on EDISON INTERNATIONAL (EIX)
SIC 4911 — Electric Services · CIK 827052 · default direction: short
Definition
Fires when free cash flow diverges substantially from net income — either NI >> FCF (low-quality earnings) or FCF >> NI (under-reported earnings).
Every time the signal fired on EIX
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2024 | 2025-02-27 | 2025-02-27 | +6.04% | +7.28% | +11.59% | +12.02% | +54.07% |
| FY2023 | 2024-02-22 | 2024-02-22 | +1.25% | +0.89% | +4.08% | +14.48% | -19.31% |
| FY2022 | 2023-02-23 | 2023-02-23 | +4.21% | -0.46% | +0.27% | +4.72% | +5.55% |
| FY2021 | 2022-02-24 | 2022-02-24 | +5.39% | +10.29% | +13.18% | +12.44% | +20.36% |
| FY2020 | 2021-02-25 | 2021-02-25 | -3.00% | +2.44% | +8.37% | +5.67% | +11.13% |
| FY2019 | 2020-02-27 | 2020-02-27 | -4.36% | -1.77% | -17.82% | -18.74% | -19.51% |
| FY2013 | 2014-02-25 | 2014-02-25 | +1.48% | +1.89% | +6.09% | +5.56% | +29.89% |
Forward returns are stock returns from event date (next trading day after filing). Sign is raw stock direction; the trade direction is in the calibration table below.
Universe-wide calibration (this signal across all companies)
| Horizon | n events | Gross stock ret | Hit rate | Trade dir | Net PnL | Cost (bps) | r/σ net |
|---|---|---|---|---|---|---|---|
| 1d | 1,361 | +0.07% | +48.05% | short | -0.35% | 30 | -0.06 |
| 5d | 1,361 | +0.65% | +47.54% | short | -0.22% | 31 | -0.02 |
| 20d | 1,357 | +0.02% | +46.20% | short | +0.27% | 34 | +0.02 |
| 60d | 1,270 | +2.92% | +51.18% | short | -3.03% | 45 | -0.11 |
| 252d | 1,256 | +13.28% | +52.79% | short | -13.55% | 92 | -0.21 |
Net PnL is direction × stock return − round-trip execution cost (5 bps half-spread + ADV-tiered borrow). See fcf_ni_divergence methodology for the full audit.