Disclosures

Who builds and maintains the models

Value Sages is a trading name of SAGES LTD. The models and their default assumptions are built and maintained by the Value Sages team:

• Genadi Tsvetanov, Product owner
• Georgi Georgiev, Backend developer
• Anani Ananiev, Backend developer
• Djem Suleyman, Frontend developer

The list of declared interests shows each holding once. It does not say who on the team holds it.

Which results these disclosures cover

Under EU rules, a fair value, a margin-of-safety verdict or a score can count as an investment recommendation. These are model estimates, not investment advice.

These disclosures cover the DCF fair value and its margin-of-safety verdict, the Compounder Score including its Valuation phase, and the DCF strategy backtest. Our Terms of Use apply to all of them.

How the models work

DCF fair value: projects a company's free cash flow with your growth and discount rates, and values what follows with an exit multiple. The team sets the default assumptions; you can change every one. Read how the DCF fair value works.

Compounder Score: scores a company from 0 to 10 across five phases, from its financial statements and an AI model's reading of its filings. Read how the Compounder Score works.

DCF strategy backtest: replays your DCF verdicts over past prices, against SXR8.DE as the benchmark.

Where our data comes from

Prices, financial statements, splits and dividends: Financial Modeling Prep. Exchange rates, where a value is converted into another currency: our currency data providers. For the Compounder Score: the company's SEC filings, read by an AI model from Google (Gemini).

Declared interests

The list last changed on 09 Nov 2026.

Our rule requires the team members it covers to declare a position here before they open or reverse it.

Value Sages holds no position in the companies analysed on Value Sages. No listed company pays Value Sages. We buy ordinary services from some listed companies, such as cloud hosting. SAGES LTD has no group companies. Value Sages holds no undisclosed interest in SXR8.DE beyond its role as this platform's fixed benchmark.

Our personal-dealing rule covers everyone named above. The list shows current declarations only. A company with no row has no interest declared by anyone on the team today.

Each row is an interest at least one team member has declared. It is not a recommendation, and it says nothing about what the stock is worth or whether it suits you.

Long: a team member owns the shares, or gains if the price rises. Short: they gain if the price falls.

Rows record the interests covered team members have declared to Value Sages. Value Sages does not monitor their trades.

An interest that arises without a trade, such as an inheritance, can take up to 2 market days to appear here. A row can stay up to 2 market days after the position is closed. A late row is corrected as soon as we know, with its true declared date.

Personal-dealing rule

Everyone involved in setting our models is covered, whatever their contract. They declare a position on this page before they open or reverse it, and they do not buy or sell a stock or fund from 2 market days before to 2 market days after Value Sages publishes something that names it. They declare shares, derivatives and fund units of any company or fund we show an opinion on, and of our benchmark fund, SXR8.DE, held directly or through a company they control, with no minimum size. The companies held inside a fund are not declared. A market day is a trading day on the stock's or fund's main exchange. How far the list can be behind is stated under Declared interests.

Contact and corrections

Questions about a disclosure, or an error to report: contact@valuesages.com