Intrinsic

Intrinsic is an desktop app that processes financial reports, extracts and stores key metrics, and helps you quickly analyze companies and track their finances.

The name intrinsic comes from Benjamin Graham’s famous concept of intrinsic value. The true worth of a company based on its fundamentals, rather than market speculation. The app is designed to bring this philosophy into your workflow, giving you a clear, data-driven view of businesses you’re evaluating.

Installation

Prerequisites

• Git.
• Node.js.
• AI provider API key. Remember to enable the models you plan to use. For example for OpenAI: 'https://platform.openai.com/settings/proj_{YOUR_PROJECT}/limits'.

Install

git clone https://github.com/vctrla/intrinsic
cd intrinsic
npm install
npm run build
cd ..
rm -rf intrinsic

Launch

To start Intrinsic double-click installed app.

• macOS: /Applications/Intrinsic.app (If you don’t have permissions, it’s installed to ~/Applications/Intrinsic.app.)
• Windows: Start Menu → Programs → Intrinsic (shortcut is created), or %LOCALAPPDATA%\Programs\Intrinsic\Intrinsic.exe
• Linux: app launcher (GNOME/KDE) after build; or run ~/.local/share/Intrinsic/Intrinsic

# You can also enable terminal launch. Within the project directory →
npm link
# Then from anywhere within the terminal →
intrinsic

Usage

Settings

Important: The first time you start Intrinsic, you must provide an API key for it to work (go to the gear icon → Environment Settings).

When you launch Intrinsic, you’ll see a gear icon in the top-center menu. There you can configure:

• Ordering of your tickers. Submission or alphabetical order (asc / desc).
• Language (Spanish / English).
• TTM (enabled / disabled). Use TTM when calculating ratios or focus on natural periods.
• Environment switch between AI providers and models, set API keys, and specify file paths for the fileWriter if you want to inspect pipeline steps.
• Accent color of the app.
• Version of Intrinsic. Check for updates.
• Nuke all your Intrinsic data (factory reset).

Input fields

Once your API key is set, you can add companies by clicking the “+” button. Please take a moment to review docs/common-errors.md.

After clicking “+”, the input fields will appear:

Mandatory fields:

• Ticker (name).
• Period — must follow one of these formats:
  • Year: YYYY-Y, e.g.: 2024-Y. To prevent errors, the -Y suffix is required.
  • Quarter: YYYY-Q#, e.g.: 2024-Q1. If “3 previous months” and “9 previous months” are reported, the pipeline will try to extract data relative to the 3 previous months.
  • Semester: YYYY-S#, e.g.: 2024-S1.
• Source. Directly type an URL on the field or click the file icon to submit a file. Intrinsic currently supports .pdf, .html, .xhtml, .mhtml, .mht formats. Client-side rendered (CSR) websites are not supported; to attach one: right click → Save As → 'Single File' or 'Page Source', then submit the file. Banks and insurance companies are not supported, as they do not follow traditional standard report formats.

Optional fields:

• Start page.
• End page.

PDFs pages-selection works perfectly. HTML page detection relies on document.querySelectorAll('.pageView'), so page selection is not guaranteed to work.

It’s recommended to fill in page values in the following cases:

1. Improve processing speed. Huge files take longer and consume more resources. If you’re sure the results appear in, say, the first 10 pages, set End to 10.
2. Improve precision. For example, ASML presentations often include financial statements around page 240. You could set Start: 240 and End: 260.
3. Avoid mistakes. Many reports include both individual and consolidated statements. If you know consolidated statements start at page 10, set Start: 10.

When you submit, the pipeline runs. See docs/pipeline.md for a detailed explanation of the pipeline.

Because the files can be large and complex, the organization and clarity of the content are crucial for correct extraction. The AI can make mistakes. After adding a company, if you detect any error you can manually modify values in the data display UI by clicking the edit icon.

You can copy to the clipboard the company data in JSON format pressing on the copy button. Remember to add a price if you want to copy price-related fields also.

Press delete to remove specific periods. To delete a company, delete all its periods from within the company view.

Data displayed

In a company view you can examine the company’s finances, compare data YoY (year-over-year), and simulate scenarios for desired prices or P/E ratios and the required net income.

Abbreviations are used for data labels to simplify visualization.

Data that requires a stock price to calculate:

• P / E: Price to Earnings Ratio, stock price divided by net earnings per share.
• P / BV: Price / Book Value, stock price divided by book value per share.
• EV: Enterprise Value, market capitalization plus debt minus cash.
• EV_cap: Enterprise Value to market capitalization.
• EV / CF_op: Enterprise Value divided by operating cash flow.
• EV / π: Enterprise Value divided by net profit.

Other data:

• CA: Current Assets.
• NCA: Non-Current Assets.
• TA: Total Assets.
• Cash: Cash and cash equivalents.
• CL: Current Liabilities.
• NCL: Non-Current Liabilities.
• TL: Total Liabilities.
• E: Shareholders' Equity.
• WC: Working Capital, current assets minus current liabilities.
• WC_NCL: Working Capital divided by non-current liabilities.
• Shs_≈: approximate shares. Given the inconsistency in financial file formats and different accounting practices, an approximation is calculated using net profit and EPS.
• BV: Book Value, shareholders' equity divided by shares.
• R: Revenue.
• π: Net Profit.
• EPS: Earnings Per Share. Will try to obtain the non-diluted value.
• M_net: Net margin. Net profit divided by revenue.
• ROA: Return on Assets, net profit divided by total assets.
• ROE: Return on Equity, net profit divided by shareholders' equity.
• Liquidity: current assets divided by current liabilities.
• Solvency: total assets divided by total liabilities. If shareholders' equity is negative, "NA" will be shown, not available.
• Leverage: total liabilities divided by shareholders' equity. If shareholders' equity is negative, "NA" will be shown, not available.
• CF_op: operating cash flow.
• CF_inv investment cash flow.
• CF_fin: financing cash flow.

If you’ve added the corresponding period from the previous year, the YoY variation is shown as a percentage next to each data point.

At the top-right of the company financials view there are two inputs. One shows the company’s stock price, where you can enter a value (e.g., the current or a target price). The other shows “w P / E”, where you can enter a desired P/E ratio.

• If you have filled in the price box, a score for the company at that specific price will be shown (see score explanation below).
• If you have filled in the P/E ratio box, the price needed to reach the desired P/E ratio will be shown.
• If you have filled in both boxes, the net profit required to reach the desired P/E ratio at that price and the percentage variation required compared to the current net profit will be shown.

If the period is 'Q' or 'S', for the upper 2 boxes, Intrinsic tries to perform the calculations based on TTM (trailing twelve months) data. If there is no data available (not submitted) just uses current data for that quarter or semester.

Score is determined as follows:

Base Conditions:

• NA → if Net Profit, Shares, EV, or P/BV are not valid
• 0 → if EPS ≤ 0 or BV ≤ 0 or Operating CF ≤ 0 or Net Profit ≤ 0
• 10 → if none of the above are met and EV ≤ 0
• Otherwise → Score = W₁R₁ + W₂R₂ + W₃R₃

Ratios:

• R₁ = 10 * (1 - (EV/OCF) / 50), if EV/OCF < 50, else = 0
• R₂ = 10 * (1 - (P/E) / 50), if P/E < 50, else = 0
• R₃ = 10 * (1 - (P/BV) / 20), if P/BV < 20, else = 0

Weights:

Case	W₁ (EV/OCF)	W₂ (P/E)	W₃ (P/BV)
All ratios available	0.4	0.3	0.3
EV/OCF not available	–	0.5	0.5

Update

This app doesn’t have a traditional signed auto-updater. Instead, it includes a simple updater that clones repo from GitHub and rebuilds the app using git + npm.

The update approach is intentionally minimal: clone -> install dependencies -> rebuild. The goal was to keep everything open-source, transparent, and fully GitHub-native rather than relying on complex external tooling, signing, or packaged update infrastructure.

If you prefer not to use that updater, you can always build from source manually or wait for packaged releases.

Common Errors

Please take a moment to review docs/common-errors.md for a detailed list of frequent issues and best practices. Understanding these cases will help you use the tool more effectively and avoid common pitfalls when processing financial reports.

To-dos

See docs/todos.md for the current development roadmap.