kesslerio_finance-news/docs/EQUITY_SHEET_FIXES.md

Equity Sheet Fixes

Contents

• NRR Column Fix
• Conversion Rules
• Fix Procedure
• Impact
• Related Columns
• Prevention

NRR Column (Column Q) - Range Values Fix

Problem: Values like "115-120%", "125%+", "N/A" in NRR column cause #VALUE! errors in MSS Score formula (columns Y/Z).

Root cause: Excel/Sheets formulas cannot perform math operations on text ranges.

Solution: Convert all NRR values to single numeric percentages.

Conversion Rules

Standard formats:

Original	Fixed	Calculation	Rationale
115-120%	117.5%	(115+120)/2	Midpoint (conservative estimate)
120-125%	122.5%	(120+125)/2	Midpoint
125%+	125%	Use lower bound	Conservative (actual may be higher)
N/A	[blank]	Leave empty	MSS formula uses IFERROR to handle blanks
110%	110%	Already valid	No change needed

Edge cases (normalize before converting):

Variant	Normalized	Notes
115–120% (en-dash)	115-120%	Replace en-dash with hyphen
115 - 120% (spaces)	115-120%	Remove spaces around hyphen
>=125%	125%+	Convert to standard "+" format
125%+ or higher	125%+	Strip extra text

Fix Procedure

Option A: Manual fix via browser

1. Open sheet: https://docs.google.com/spreadsheets/d/1lTpdbDjqW40qe4YUvk_1vBzKYLUNrmLZYyQN-7HmFJg/edit#gid=0
2. IMPORTANT: Select column Q header → Format → Number → Percent
   • This ensures values are stored as numbers, not text
   • If column is set to "Plain text", entering "117.5%" stores as text → still causes errors
3. Navigate to column Q (NRR)
4. For each range value:
   • Calculate midpoint (e.g., (115+120)/2 = 117.5)
   • Replace with single percentage: 117.5%
   • Sheets auto-converts to numeric percentage when column is formatted correctly
5. For "N/A" → delete content (leave blank)
6. For "125%+" → replace with 125%
7. Verify: After editing, click cell → formula bar should show 1.175 (not "117.5%" with quotes)

Option B: Sheets API fix (requires Sheets API enabled)

Prerequisites:

1. Enable Sheets API: https://console.developers.google.com/apis/api/sheets.googleapis.com/overview?project=831892255935
2. Ensure column Q is formatted as Percent (do once before any API writes):
   • Via browser: Select column Q → Format → Number → Percent
   • Via API: Use batchUpdate with repeatCell + numberFormat (see below)

Using gog CLI:

# gog CLI uses USER_ENTERED by default (parses "117.5%" as numeric)
gog-shapescale --account martin@shapescale.com sheets update \
  1lTpdbDjqW40qe4YUvk_1vBzKYLUNrmLZYyQN-7HmFJg \
  'Equity!Q5' '117.5%'

Using Sheets API directly (curl/Python):

# CRITICAL: Specify valueInputOption=USER_ENTERED explicitly
curl -X PUT \
  "https://sheets.googleapis.com/v4/spreadsheets/SHEET_ID/values/Equity!Q5?valueInputOption=USER_ENTERED" \
  -H "Authorization: Bearer $TOKEN" \
  -d '{"values": [["117.5%"]]}'

# Python example:
service.spreadsheets().values().update(
    spreadsheetId=SHEET_ID,
    range='Equity!Q5',
    valueInputOption='USER_ENTERED',  # Parse as Sheets would
    body={'values': [['117.5%']]}
).execute()

Verify after writing:

• Click cell → formula bar should show 1.175 (numeric)
• If formula bar shows "117.5%" with quotes → stored as text, still causes errors

Impact

Fixing NRR ranges will:

• ✅ Eliminate #VALUE! errors in MSS Score column (Y)
• ✅ Eliminate #VALUE! errors in MSS Rating column (Z)
• ✅ Allow proper numerical analysis and sorting
• ✅ Make formulas copyable to new rows without errors

How MSS Formula Handles Blank NRR Values

The MSS Score formula (column Y) includes IFERROR() wrapper to handle missing data:

• Blank NRR cell → Formula treats as missing data, uses available metrics only
• Not treated as 0% → Blank is excluded from calculation (doesn't penalize score)
• Better than text "N/A" → Text causes #VALUE! error, blank is handled gracefully

Example: If NRR is blank but other metrics exist (Rev Growth, Rule of 40, etc.), MSS Score calculates using remaining metrics without error.

Related Columns

Other columns that need single numeric values (not ranges):

• Column M (Rule of 40 Ops): Should be calculated value (Ops Margin + Rev Growth)
• Column O (Rule of 40 FCF): Should be calculated value (FCF Margin + Rev Growth)
• Both can be negative for pre-profitable/turnaround companies

Prevention

When adding new companies:

1. Always use single percentage values in NRR column
2. Test MSS Score formula immediately after adding row
3. If #VALUE! error appears → check Q column for ranges/text