# Valuation Indicators (/equities/valuation)

`GET`    /v2/equities/valuation

## API Overview

This API provides daily valuation indicators and market capitalization calculated from financial statement disclosures and share prices.\
Actual values are calculated using net income for the trailing twelve months (TTM), while forward values are calculated using the company's forecast net income for the current fiscal year.

### Notes on This API

> **Info**
>
> - In principle, information disclosed in financial results is reflected in the data from the following business day, regardless of the time of disclosure. For daily update times, see [Data Update Timing](/en/spec/data-update).
> - The closing price for the day is used as the share price. If no trade is executed on a given day, the base price applicable to that day is used instead.
> - ROE and FwdROE are recorded as decimals (e.g., `0.2310` represents 23.1%).
> - **Missing values and absent records:**
>   - If the data required for calculation is unavailable, the applicable field is recorded as Null, such as for a recently listed security or during a transition following a change in fiscal year-end. For the initial data-coverage period, approximately 2008 to 2010, the share-count and financial information required for calculation may be incomplete. Consequently, more securities and fields are recorded as Null during this period.
> - Data rows are returned for securities outside the scope of indicator calculation, such as ETFs, ETNs, and preferred stocks, but all indicators are Null. Market capitalization may be calculated for securities that are outside the scope of the other indicators. A market-capitalization value may therefore be recorded for a preferred stock, REIT, or similar security even if all other indicators are Null. Market capitalization is also Null for ETFs, ETNs, and similar securities because they have no financial statement disclosures from which the number of shares can be calculated.
> - Support for REITs and similar issues is planned for a future release as far as the indicators are concerned (market capitalization is already recorded for them).
> - For indicator definitions, the distinction between actual and forward values, and the conditions under which values are Null, see [How Indicators Are Calculated](/en/spec/eq-valuation/calc).

> **Info**
>
> - For the history of data additions and overwrites made because our data was missing or contained an error, see [Data Correction History and Known issues](/en/spec/fix-data-info).
>
> - Questions we have received about data specifications are also answered in the [FAQ (Data & Specs)](/en/help/data).

## Retrieve Daily Valuation Indicator Data

`GET` `https://api.jquants.com/v2/equities/valuation`

Either an issue code (`code`) or a date (`date`) must be specified.\
The permitted parameter combinations and corresponding responses are shown below.

- code: ✓, date: –, from /to: – → All available data for the specified issue

- code: ✓, date: ✓, from /to: – → Data for the specified issue on the specified date

- code: ✓, date: –, from /to: ✓ → Data for the specified issue over the specified period

- code: –, date: ✓, from /to: – → Data for all listed issues on the specified date

### Requests

### Headers

| Parameter | Type   | Required | Description |
| --------- | ------ | -------- | ----------- |
| x-api-key | string | Required | API key     |

### Query Parameters

> **Note**
>
> Either **code** or **date** must be specified.

| Parameter       | Type   | Required | Description                                                                                                                                                                        |
| --------------- | ------ | -------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| code            | string | Optional | Issue code (e.g., `27800` or `2780`) If a four-digit issue code is specified for an issue with both common and preferred stock listed, only data for the common stock is returned. |
| date            | string | Optional | Date, when `from` and `to` are not specified (e.g., `20260826` or `2026-08-26`)                                                                                                    |
| from            | string | Optional | Start of the period (e.g., `20260801` or `2026-08-01`)                                                                                                                             |
| to              | string | Optional | End of the period (e.g., `20260826` or `2026-08-26`)                                                                                                                               |
| pagination\_key | string | Optional | String that specifies the start of the search Set the pagination\_key returned by a previous search                                                                                |

### Sample API Call

/v2/equities/valuation

**cURL**

```bash
curl -G https://api.jquants.com/v2/equities/valuation \
-H "x-api-key: {{apiKey}}" \
-d code="{{code}}" \
-d date="{{date}}"
```

**JavaScript**

```javascript
import axios from 'axios'

const client = axios.create({
  baseURL: 'https://api.jquants.com',
  headers: { 'x-api-key': '{{apiKey}}' },
})

await client.get('/v2/equities/valuation', {
  params: {
    code: '{{code}}',
    date: '{{date}}',
  },
})
```

**Python**

```python
import requests

headers = {"x-api-key": "{{apiKey}}"}
resp = requests.get(
    "https://api.jquants.com/v2/equities/valuation",
    params={"code": "{{code}}", "date": "{{date}}"},
    headers=headers,
)
print(resp.json())
```

### Responses

### Data Items

| Parameter | Type   | Required | Description                                           |
| --------- | ------ | -------- | ----------------------------------------------------- |
| Date      | string | Required | Date (YYYY-MM-DD)                                     |
| Code      | string | Required | Issue code (5 digits)                                 |
| EPS       | number | Required | Earnings per share (actual, JPY) (\*1, \*4)           |
| FwdEPS    | number | Required | Forward earnings per share (JPY) (\*2, \*4)           |
| BPS       | number | Required | Book value per share (JPY) (\*4, \*6)                 |
| ROE       | number | Required | Return on equity (actual, decimal) (\*1, \*5)         |
| FwdROE    | number | Required | Forward return on equity (decimal) (\*2, \*5)         |
| PER       | number | Required | Price-to-earnings ratio (actual, multiple) (\*3, \*4) |
| FwdPER    | number | Required | Forward price-to-earnings ratio (multiple) (\*3, \*4) |
| PBR       | number | Required | Price-to-book ratio (multiple) (\*3, \*4)             |
| MktCap    | number | Required | Market capitalization (JPY millions) (\*3, \*7)       |

\*1 Actual values calculated using net income for the trailing twelve months (TTM). The denominator of ROE is the average shareholders' equity at the beginning and end of the TTM period.\
\*2 Forward values calculated using the company's forecast net income for the current fiscal year. The denominator of FwdROE is the most recently disclosed period-end shareholders' equity.\
\*3 The closing price for the day is used as the share price. If no trade is executed on a given day, the base price applicable to that day is used instead.\
\*4 Values are rounded to two decimal places. Because values are returned as JSON numbers, trailing zeros may be omitted.\
\*5 Values are rounded to four decimal places. Note that they are expressed as decimals, not percentages (e.g., `0.2310` represents 23.1%). Because values are returned as JSON numbers, trailing zeros may be omitted.\
\*6 Calculated using the most recently disclosed period-end shareholders' equity.\
\*7 Calculated as share price (\*3) multiplied by the number of shares and recorded in millions of JPY, rounded to the nearest million. The calculation also reflects corporate actions such as stock splits and reverse stock splits.\
・The number of shares excludes treasury shares. This definition differs from market capitalization calculated using total shares issued or free-float shares.\
・Market capitalization in the Daily Stock Prices (OHLC) API is calculated using the closing price and a number of shares that includes treasury shares. Because the definition of the number of shares differs from that used for this field, the resulting values may not match. For an issue that holds treasury shares, the value in this field will generally be lower by the amount attributable to those treasury shares. Market capitalization in the Daily Stock Prices (OHLC) API is scheduled to be removed; use this field going forward.\
・Because the number of shares is calculated using financial statement disclosures, this field is Null for ETFs, ETNs, and similar issues, as well as for newly listed issues until their first financial results are disclosed.

### Sample Response

```bash {{ title: "200:OK" }}
{
    "data": [
        {
            "Date": "2023-03-24",
            "Code": "86970",
            "EPS": 89.4,
            "FwdEPS": 87.9,
            "BPS": 590.65,
            "ROE": 0.1534,
            "FwdROE": 0.1488,
            "PER": 22.88,
            "FwdPER": 23.26,
            "PBR": 3.46,
            "MktCap": 1077137.0
        }
    ],
    "pagination_key": "value1.value2."
}
```