Quarterly data (ITR)

What the ITR actually reports

Each CVM quarterly file (ITR) reports flow items (DRE, DFC) in two versions:

Year-to-date since January 1st (e.g. in the 2nd-quarter file, revenue covers 01/01 to 30/06)
Isolated quarter (e.g. in the same file, 01/04 to 30/06)

This database stores only the isolated one — it is the block that is comparable across quarters and recombinable (add the 3 → 9-month year-to-date; last 4 → TTM, trailing twelve months). For the 1st quarter the two versions coincide, so nothing is lost.

Classification: by the duration of the period (end minus start), not by the month — an isolated quarter has 80 to 100 days. A company with a fiscal year off the calendar (ending in a month other than March/June/September) is discarded in this layer, not guessed.

The 4th quarter does not exist in the ITR

CVM does not require an ITR for the 4th quarter — it is implicit in the annual closing (DFP), which is audited. Whoever wants the isolated Q4 has to subtract: Q4 = Annual (DFP) − (isolated Q1 + Q2 + Q3). This database does not pre-compute that in the MVP; it is available to anyone consuming the raw data.

Balance sheet (BPA/BPP)

It does not have the ambiguity above — it is a snapshot of one instant (31/03, 30/06 or 30/09), a single value per quarter, treated the same as the annual one.

TTM (trailing twelve months)

The TTM earnings used in the quarterly multiples come out by identity — without needing the isolated Q4 and without any estimate: TTM at Qk = annual(year−1) − Q1..Qk(year−1) + Q1..Qk(year). If a piece is missing, the TTM is null with a flag. See multiplos.md.

Declared limitations

Operating indicators (ROIC, ROE, margins) are not recalculated at quarterly granularity in this MVP — they would require a quarterly average of capital, a design decision deliberately left for later. The TTM that is implemented covers earnings (for P/E); TTM revenue and the other items follow the same path when they arrive.
The ITR's DFC comes only year-to-date — there is no isolated quarterly D&A and therefore there is no quarterly EBITDA (measurement and consequences in multiplos.md).
Same company coverage as the annual database (402, non-financial).