New metric measures and predicts changes in corporate financial health
Axiomatic Data, the Form 5500 Information Company, announced the creation and release of ThriveScores to its database covering over 650,000 US public and private companies. Using information extracted from Form 5500 filings, Axiomatic Data has developed a scoring methodology that predicts corporate growth, or likelihood to thrive, across the vast majority of US companies. ThriveScores can be used as a measure of financial health for all US companies and as an investment signal for US public companies.
The Form 5500 series is a compliance, research, and disclosure tool for US employee benefit plans. The Department of Labor has mandated that a Form 5500 must be filed for welfare benefit plans by companies with over 100 employees and for all retirement plans such as 401Ks. Axiomatic Data aggregates, harmonizes, and normalizes several million Form 5500 filings annually to create an accurate, robust database serving multiple use cases.
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“Customers asked if we could make stock price performance and financial health predictions based upon changes in employment and corporate benefits reported in Form 5500 filings. ThriveScores do just that,” said Steve Goldstein, a partner at Axiomatic Data. “We’ve developed algorithms that capsulize these changes and deliver this information in ThriveScores.”
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“We analyzed the last 4 years of Axiomatic Data’s ThriveScores and found that Russell 3000 companies with higher ThriveScores outperform companies with lower ThriveScores,” said Larry Green, President of SmartMarketData, LLC, an alternative data analytics firm. “The data was compelling, and we’ve published a white paper that summarizes our findings.”
The ThriveScores algorithms incorporate changes in employment and employer contributions to employee benefit plans, among other attributes, from Form 5500.
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