HKUDS/Vibe-Trading · error · ValuationError

fcff_bridge: {name} has {len(values)} year(s), expected {hor

Error message

fcff_bridge: {name} has {len(values)} year(s), expected {horizon} to match ebit

What it means

fcff_bridge() requires depreciation_amortization, capex and delta_nwc to have exactly the same length as ebit; otherwise a ValuationError names the mismatched series and its length.

Source

Thrown at agent/src/quantlib/valuation/dcf.py:622

    """
    if not 0.0 <= tax_rate <= 1.0:
        raise ValuationError(f"fcff_bridge: tax_rate must be within [0, 1], got {tax_rate!r}")

    ebit_list = list(ebit)
    horizon = len(ebit_list)
    if horizon == 0:
        raise ValuationError(
            "fcff_bridge: ebit forecast is empty; at least one projection year "
            "is required"
        )
    forecasts = {
        "depreciation_amortization": list(depreciation_amortization),
        "capex": list(capex),
        "delta_nwc": list(delta_nwc),
    }
    for name, values in forecasts.items():
        if len(values) != horizon:
            raise ValuationError(
                f"fcff_bridge: {name} has {len(values)} year(s), expected "
                f"{horizon} to match ebit"
            )

    years = []
    for index in range(horizon):
        ebit_value = _require_finite(ebit_list[index], f"ebit[{index}]", "fcff_bridge")
        da_value = _require_finite(
            forecasts["depreciation_amortization"][index],
            f"depreciation_amortization[{index}]",
            "fcff_bridge",
        )
        capex_value = _require_finite(
            forecasts["capex"][index], f"capex[{index}]", "fcff_bridge"
        )
        delta_nwc_value = _require_finite(
            forecasts["delta_nwc"][index], f"delta_nwc[{index}]", "fcff_bridge"
        )

View on GitHub (pinned to 80ffdda44c)

Solutions

1. Align all four series to the same horizon/length before calling (assert equal lengths)
2. When extending the forecast horizon, update all assumption rows together
3. If using pandas, reset/reindex all series on a common positional index before list()

Example fix

# before
fcff_bridge(ebit=df['ebit'], capex=df['capex'].dropna(), ...)

# after
capex = df['capex'].reindex(df['ebit'].index).fillna(0.0)
fcff_bridge(ebit=df['ebit'], capex=capex, ...)

n = len(list(ebit))
assert all(len(list(x)) == n for x in (da, capex, dnwc)), 'length mismatch'
fcff_bridge(ebit=ebit, depreciation_amortization=da, capex=capex, delta_nwc=dnwc)

def same_length(*seqs) -> bool:
    n = len(list(seqs[0]))
    return all(len(list(s)) == n for s in seqs)

try:
    fcff_bridge(...)
except ValuationError as e:
    if 'expected' in str(e):
        raise DataAlignmentError(str(e)) from e
    raise

When it happens

Trigger: Passing a 5-year ebit with a 4-year capex list; a scalar or single D&A value broadcast by hand to the wrong length; misaligned DataFrame slices.

Common situations: Horizon extended for ebit but not for other assumptions; pandas series aligned on different indices silently producing different lengths after dropna.

Related errors

• FCFFYear.year must be >= 1, got {self.year!r}
• FCFFYear(year={self.year}).nopat={self.nopat!r} does not mat
• FCFFYear(year={self.year}).fcff={self.fcff!r} does not match
• fcff_bridge: tax_rate must be within [0, 1], got {tax_rate!r
• fcff_bridge: ebit forecast is empty; at least one projection

AI-assisted analysis of HKUDS/Vibe-Trading@80ffdda44c (2026-08-28). Data as JSON: /api/errors/027089e59b56b3cd. Report an issue: GitHub.