Previous value: -"payg_charge = real charge (agent-pay or your balance). payg_rate_card = indicative price, not billed."New value: +"payg_charge = real pay-per-call charge (a card or MPP payment through agent-pay). payg_rate_card = indicative price, not billed."

Previous value: -"payg_charge = real agent-pay charge. payg_rate_card = indicative price, not billed."New value: +"payg_charge = real charge (agent-pay or your balance). payg_rate_card = indicative price, not billed."

Previous value: -"true = this amount was actually charged via PAYG for this call. false = indicative PAYG-equivalent value; your plan already covers this call for free."New value: +"true = this amount was actually charged via PAYG for this call. false = indicative PAYG-equivalent value only: no charge was made for this call (it was within your plan)."

Previous value: -"Point-in-time cutoff for the reported inputs, YYYY-MM-DD: only filings accepted by this date, e.g. 2024-06-30."New value: +"Point-in-time cutoff (YYYY-MM-DD) for the seed period. Omit to use the latest knowable annual period."

Previous value: -"Share of each year's free cash flow used to repay debt, 0 to 1; defaults to 1, e.g. 0.75."New value: +"Fraction (0-1) of each year's FCF swept to debt paydown. Default 1.0 (standard LBO — 100% sweep)."

Previous value: -"Share of each year's net income distributed to the sponsor, 0 to 1; defaults to 0, e.g. 0.2."New value: +"Fraction (0-1) of net income distributed to the sponsor each year (dividend recap style). Default 0 — most LBOs return capital only at exit."

Previous value: -"EBITDA in USD that sets the entry price and debt instead of operating income, e.g. 130000000000."New value: +"Override the EBITDA figure used for both entry and exit multiples. Without this, EBITDA is proxied by operating income."

Previous value: -"Purchase price as a multiple of EBITDA, above zero, e.g. 10."New value: +"EV/EBITDA multiple paid at entry (e.g. 10 = 10x)."

Previous value: -"Sale price as a multiple of the final year's EBITDA; defaults to entry_multiple, e.g. 12."New value: +"EV/EBITDA multiple assumed at exit. Defaults to entry_multiple (no multiple expansion/contraction) when omitted."

Previous value: -"Years from purchase to sale, 1 to 10; defaults to 5, e.g. 7."New value: +"Hold period in years (1-10). Defaults to 5."

Previous value: -"Interest rate on buyout debt at the start of each year, 0 to 0.5; defaults to 0.08, e.g. 0.09."New value: +"Annual interest rate on beginning-of-period LBO debt. Default 0.08 (leveraged debt typically prices above IG)."

Previous value: -"Debt raised at entry as a multiple of EBITDA, zero or more, e.g. 5."New value: +"Debt/EBITDA raised at entry (e.g. 5 = 5x leverage)."

Previous value: -"Cash left on the opening balance sheet, in USD; defaults to 0, e.g. 1000000000."New value: +"Minimum operating cash left on the pro-forma opening balance sheet. Default 0."

Previous value: -"Yearly revenue growth over the hold as a decimal, -0.5 to 1, e.g. 0.05."New value: +"Flat annual revenue growth rate applied every year of the hold (e.g. 0.05 = 5%/yr)."

Previous value: -"Tax rate on positive pretax income, 0 to 1; defaults to 0.21, e.g. 0.25."New value: +"Effective tax rate on positive pretax income. Default 0.21."

Previous value: -"Ticker symbol or SEC CIK of the buyout target, e.g. AAPL."New value: +"Stock ticker symbol of the LBO target, e.g. AAPL."

Added value: +{
+  "additionalProperties": false,
+  "description": "Per-call cost transparency. Omitted for subscription-only tools that have no PAYG-equivalent price.",
+  "properties": {
+    "amount_usd": {
+      "minimum": 0,
+      "type": "number"
+    },
+    "basis": {
+      "description": "payg_charge = real agent-pay charge. payg_rate_card = indicative price, not billed.",
+      "enum": [
+        "payg_charge",
+        "payg_rate_card"
+      ],
+      "type": "string"
+    },
+    "billed": {
+      "description": "true = this amount was actually charged via PAYG for this call. false = indicative PAYG-equivalent value; your plan already covers this call for free.",
+      "type": "boolean"
+    }
+  },
+  "required": [
+    "amount_usd",
+    "billed",
+    "basis"
+  ],
+  "type": "object"
+}

Added value: +{
+  "description": "Access plan: sample | sp500 | pro | full",
+  "type": "string"
+}

Previous value: -"Use THIS — not `last_updated` — when telling a user how current the cross-sectional fundamentals are. The snapshot is republished on every weekday price refresh while the statements are carried forward unchanged, so `last_updated` can be far more recent than the numbers it sits next to. It is a floor for a single filer, not a ceiling: a filer with a live partition receives its filing, facts and ratios intraday (minutes after EDGAR dissemination), so an entity-scoped read may carry a filing newer than this; cross-sectional ranks (factor scores, earnings signals) refresh with the weekly bulk export."New value: +"ISO timestamp when the FINANCIAL STATEMENTS were last rebuilt in bulk. Use THIS — not `last_updated` — when telling a user how current the cross-sectional fundamentals are. The snapshot is republished on every weekday price refresh while the statements are carried forward unchanged, so `last_updated` can be far more recent than the numbers it sits next to. It is a floor for a single filer, not a ceiling: a filer with a live partition receives its filing, facts and ratios intraday (minutes after EDGAR dissemination), so an entity-scoped read may carry a filing newer than this; cross-sectional ranks (factor scores, earnings signals) refresh with the weekly bulk export."

Added value: +{
+  "description": "ISO timestamp when the snapshot was exported",
+  "type": "string"
+}

Added value: +{
+  "description": "Wall-clock milliseconds this tool call took, measured server-side around the handler.",
+  "minimum": 0,
+  "type": "integer"
+}

Added value: +{
+  "description": "Soft-warning array for partial fulfillment. Each entry carries a stable subcode + remediation.options[]. AI agents pattern-match on subcode.",
+  "items": {
+    "additionalProperties": true,
+    "properties": {
+      "code": {
+        "const": "LIMIT_EXCEEDED",
+        "type": "string"
+      },
+      "current_plan": {
+        "type": "string"
+      },
+      "extensions": {
+        "additionalProperties": {},
+        "type": "object"
+      },
+      "limit_type": {
+        "type": "string"
+      },
+      "limit_value": {},
+      "remediation": {
+        "additionalProperties": true,
+        "properties": {
+          "contact_sales": {
+            "type": "string"
+          },
+          "default_action": {
+            "type": "string"
+          },
+          "options": {
+            "items": {
+              "additionalProperties": {},
+              "type": "object"
+            },
+            "type": "array"
+          },
+          "pricing_page": {
+            "type": "string"
+          }
+        },
+        "required": [
+          "options",
+          "default_action",
+          "pricing_page",
+          "contact_sales"
+        ],
+        "type": "object"
+      },
+      "requested_value": {},
+      "returned_value": {},
+      "subcode": {
+        "type": "string"
+      }
+    },
+    "required": [
+      "code",
+      "subcode",
+      "limit_type",
+      "current_plan",
+      "remediation"
+    ],
+    "type": "object"
+  },
+  "type": "array"
+}

Added value: +{
+  "additionalProperties": false,
+  "description": "Set when this single response was paid for via the agent-pay PAYG flow — the rate-limit / depth-limit checks were bypassed for this call only.",
+  "properties": {
+    "amount_cents": {
+      "type": "number"
+    },
+    "entity_scope_hash": {
+      "type": "string"
+    },
+    "meter": {
+      "type": "string"
+    },
+    "quote_id": {
+      "type": "string"
+    },
+    "retry_token_hash": {
+      "type": "string"
+    },
+    "ticker_count": {
+      "type": "number"
+    },
+    "tool": {
+      "type": "string"
+    }
+  },
+  "required": [
+    "quote_id",
+    "tool",
+    "meter",
+    "amount_cents",
+    "ticker_count",
+    "entity_scope_hash",
+    "retry_token_hash"
+  ],
+  "type": "object"
+}

Added value: +{
+  "additionalProperties": false,
+  "description": "Caller's remaining budget",
+  "properties": {
+    "limit": {
+      "type": "integer"
+    },
+    "remaining": {
+      "type": "integer"
+    },
+    "reset_at": {
+      "description": "ISO 8601 timestamp when the window resets",
+      "type": "string"
+    },
+    "window": {
+      "enum": [
+        "minute",
+        "hour"
+      ],
+      "type": "string"
+    }
+  },
+  "required": [
+    "limit",
+    "remaining",
+    "reset_at",
+    "window"
+  ],
+  "type": "object"
+}

Added value: +{
+  "description": "Per-request correlation id (8-char)",
+  "type": "string"
+}

Added value: +{
+  "description": "Parquet schema version from manifest.json",
+  "type": "string"
+}

Added value: +{
+  "description": "Snapshot directory name (e.g. snapshot_20260420)",
+  "type": "string"
+}

Added value: +{
+  "type": "string"
+}

Added value: +{
+  "type": "string"
+}

Added value: +{
+  "type": "string"
+}

Previous value: -[
-  "source",
-  "pit_safe"
-]New value: +[
+  "data_plan",
+  "schema_version",
+  "snapshot",
+  "last_updated",
+  "source",
+  "pit_safe"
+]

Previous value: -"Point-in-time cutoff (YYYY-MM-DD) for the seed period. Omit to use the latest knowable annual period."New value: +"Point-in-time cutoff for the reported inputs, YYYY-MM-DD: only filings accepted by this date, e.g. 2024-06-30."

Previous value: -"Fraction (0-1) of each year's FCF swept to debt paydown. Default 1.0 (standard LBO — 100% sweep)."New value: +"Share of each year's free cash flow used to repay debt, 0 to 1; defaults to 1, e.g. 0.75."

Previous value: -"Fraction (0-1) of net income distributed to the sponsor each year (dividend recap style). Default 0 — most LBOs return capital only at exit."New value: +"Share of each year's net income distributed to the sponsor, 0 to 1; defaults to 0, e.g. 0.2."

Previous value: -"Override the EBITDA figure used for both entry and exit multiples. Without this, EBITDA is proxied by operating income."New value: +"EBITDA in USD that sets the entry price and debt instead of operating income, e.g. 130000000000."

Previous value: -"EV/EBITDA multiple paid at entry (e.g. 10 = 10x)."New value: +"Purchase price as a multiple of EBITDA, above zero, e.g. 10."

Previous value: -"EV/EBITDA multiple assumed at exit. Defaults to entry_multiple (no multiple expansion/contraction) when omitted."New value: +"Sale price as a multiple of the final year's EBITDA; defaults to entry_multiple, e.g. 12."

Previous value: -"Hold period in years (1-10). Defaults to 5."New value: +"Years from purchase to sale, 1 to 10; defaults to 5, e.g. 7."

Previous value: -"Annual interest rate on beginning-of-period LBO debt. Default 0.08 (leveraged debt typically prices above IG)."New value: +"Interest rate on buyout debt at the start of each year, 0 to 0.5; defaults to 0.08, e.g. 0.09."

Previous value: -"Debt/EBITDA raised at entry (e.g. 5 = 5x leverage)."New value: +"Debt raised at entry as a multiple of EBITDA, zero or more, e.g. 5."

Previous value: -"Minimum operating cash left on the pro-forma opening balance sheet. Default 0."New value: +"Cash left on the opening balance sheet, in USD; defaults to 0, e.g. 1000000000."

Previous value: -"Flat annual revenue growth rate applied every year of the hold (e.g. 0.05 = 5%/yr)."New value: +"Yearly revenue growth over the hold as a decimal, -0.5 to 1, e.g. 0.05."

Previous value: -"Effective tax rate on positive pretax income. Default 0.21."New value: +"Tax rate on positive pretax income, 0 to 1; defaults to 0.21, e.g. 0.25."

Previous value: -"Stock ticker symbol of the LBO target, e.g. AAPL."New value: +"Ticker symbol or SEC CIK of the buyout target, e.g. AAPL."

Removed value: -{
-  "additionalProperties": false,
-  "description": "Per-call cost transparency. Omitted for subscription-only tools that have no PAYG-equivalent price.",
-  "properties": {
-    "amount_usd": {
-      "minimum": 0,
-      "type": "number"
-    },
-    "basis": {
-      "description": "payg_charge = real agent-pay charge. payg_rate_card = indicative price, not billed.",
-      "enum": [
-        "payg_charge",
-        "payg_rate_card"
-      ],
-      "type": "string"
-    },
-    "billed": {
-      "description": "true = this amount was actually charged via PAYG for this call. false = indicative PAYG-equivalent value; your plan already covers this call for free.",
-      "type": "boolean"
-    }
-  },
-  "required": [
-    "amount_usd",
-    "billed",
-    "basis"
-  ],
-  "type": "object"
-}

Removed value: -{
-  "description": "Access plan: sample | sp500 | pro | full",
-  "type": "string"
-}

Previous value: -"ISO timestamp when the FINANCIAL STATEMENTS were last rebuilt in bulk. Use THIS — not `last_updated` — when telling a user how current the cross-sectional fundamentals are. The snapshot is republished on every weekday price refresh while the statements are carried forward unchanged, so `last_updated` can be far more recent than the numbers it sits next to. It is a floor for a single filer, not a ceiling: a filer with a live partition receives its filing, facts and ratios intraday (minutes after EDGAR dissemination), so an entity-scoped read may carry a filing newer than this; cross-sectional ranks (factor scores, earnings signals) refresh with the weekly bulk export."New value: +"Use THIS — not `last_updated` — when telling a user how current the cross-sectional fundamentals are. The snapshot is republished on every weekday price refresh while the statements are carried forward unchanged, so `last_updated` can be far more recent than the numbers it sits next to. It is a floor for a single filer, not a ceiling: a filer with a live partition receives its filing, facts and ratios intraday (minutes after EDGAR dissemination), so an entity-scoped read may carry a filing newer than this; cross-sectional ranks (factor scores, earnings signals) refresh with the weekly bulk export."

Removed value: -{
-  "description": "ISO timestamp when the snapshot was exported",
-  "type": "string"
-}

Removed value: -{
-  "description": "Wall-clock milliseconds this tool call took, measured server-side around the handler.",
-  "minimum": 0,
-  "type": "integer"
-}

Removed value: -{
-  "description": "Soft-warning array for partial fulfillment. Each entry carries a stable subcode + remediation.options[]. AI agents pattern-match on subcode.",
-  "items": {
-    "additionalProperties": true,
-    "properties": {
-      "code": {
-        "const": "LIMIT_EXCEEDED",
-        "type": "string"
-      },
-      "current_plan": {
-        "type": "string"
-      },
-      "extensions": {
-        "additionalProperties": {},
-        "type": "object"
-      },
-      "limit_type": {
-        "type": "string"
-      },
-      "limit_value": {},
-      "remediation": {
-        "additionalProperties": true,
-        "properties": {
-          "contact_sales": {
-            "type": "string"
-          },
-          "default_action": {
-            "type": "string"
-          },
-          "options": {
-            "items": {
-              "additionalProperties": {},
-              "type": "object"
-            },
-            "type": "array"
-          },
-          "pricing_page": {
-            "type": "string"
-          }
-        },
-        "required": [
-          "options",
-          "default_action",
-          "pricing_page",
-          "contact_sales"
-        ],
-        "type": "object"
-      },
-      "requested_value": {},
-      "returned_value": {},
-      "subcode": {
-        "type": "string"
-      }
-    },
-    "required": [
-      "code",
-      "subcode",
-      "limit_type",
-      "current_plan",
-      "remediation"
-    ],
-    "type": "object"
-  },
-  "type": "array"
-}

Removed value: -{
-  "additionalProperties": false,
-  "description": "Set when this single response was paid for via the agent-pay PAYG flow — the rate-limit / depth-limit checks were bypassed for this call only.",
-  "properties": {
-    "amount_cents": {
-      "type": "number"
-    },
-    "entity_scope_hash": {
-      "type": "string"
-    },
-    "meter": {
-      "type": "string"
-    },
-    "quote_id": {
-      "type": "string"
-    },
-    "retry_token_hash": {
-      "type": "string"
-    },
-    "ticker_count": {
-      "type": "number"
-    },
-    "tool": {
-      "type": "string"
-    }
-  },
-  "required": [
-    "quote_id",
-    "tool",
-    "meter",
-    "amount_cents",
-    "ticker_count",
-    "entity_scope_hash",
-    "retry_token_hash"
-  ],
-  "type": "object"
-}

Removed value: -{
-  "additionalProperties": false,
-  "description": "Caller's remaining budget",
-  "properties": {
-    "limit": {
-      "type": "integer"
-    },
-    "remaining": {
-      "type": "integer"
-    },
-    "reset_at": {
-      "description": "ISO 8601 timestamp when the window resets",
-      "type": "string"
-    },
-    "window": {
-      "enum": [
-        "minute",
-        "hour"
-      ],
-      "type": "string"
-    }
-  },
-  "required": [
-    "limit",
-    "remaining",
-    "reset_at",
-    "window"
-  ],
-  "type": "object"
-}

Removed value: -{
-  "description": "Per-request correlation id (8-char)",
-  "type": "string"
-}

Removed value: -{
-  "description": "Parquet schema version from manifest.json",
-  "type": "string"
-}

Removed value: -{
-  "description": "Snapshot directory name (e.g. snapshot_20260420)",
-  "type": "string"
-}

Removed value: -{
-  "type": "string"
-}

Removed value: -{
-  "type": "string"
-}

Removed value: -{
-  "type": "string"
-}

Previous value: -[
-  "data_plan",
-  "schema_version",
-  "snapshot",
-  "last_updated",
-  "source",
-  "pit_safe"
-]New value: +[
+  "source",
+  "pit_safe"
+]

Previous value: -"ISO timestamp when the FINANCIAL STATEMENTS were last rebuilt. Use THIS — not `last_updated` — when telling a user how current the fundamentals are. The snapshot is republished on every weekday price refresh while the statements are carried forward unchanged, so `last_updated` can be far more recent than the numbers it sits next to."New value: +"ISO timestamp when the FINANCIAL STATEMENTS were last rebuilt in bulk. Use THIS — not `last_updated` — when telling a user how current the cross-sectional fundamentals are. The snapshot is republished on every weekday price refresh while the statements are carried forward unchanged, so `last_updated` can be far more recent than the numbers it sits next to. It is a floor for a single filer, not a ceiling: a filer with a live partition receives its filing, facts and ratios intraday (minutes after EDGAR dissemination), so an entity-scoped read may carry a filing newer than this; cross-sectional ranks (factor scores, earnings signals) refresh with the weekly bulk export."

Added value: +{
+  "description": "ISO timestamp when the FINANCIAL STATEMENTS were last rebuilt. Use THIS — not `last_updated` — when telling a user how current the fundamentals are. The snapshot is republished on every weekday price refresh while the statements are carried forward unchanged, so `last_updated` can be far more recent than the numbers it sits next to.",
+  "type": "string"
+}

Added value: +{
+  "description": "ISO timestamp when the price surfaces were last refreshed.",
+  "type": "string"
+}