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Valuation History

Fetch a company's fair market value (FMV) history.

FMV is not always a 409A. A 409A is the US instrument; a UK company is valued under an EMI or CSOP agreement with HMRC, and other companies use a share-price report. Read whichever the company actually has, and never tell a company with a valid EMI valuation that it has none.

When to Use

• "What's our current valuation?" / "What's the current 409A?"
• "Show me the FMV history"
• "When does the valuation expire?"
• "What's the exercise price for common stock?"
• "Has the FMV changed recently?"
• "Is the valuation still valid?"

Prerequisites

You need the corporation_id. Get it from list_accounts if you don't have it.

Data Retrieval

call_tool({"name": "cap_table__get__valuations", "arguments": {"corporation_id": corporation_id}})

Optional valuation_source filters to one or more of EMI, CSOP, 409A, SHARE_PRICE. Omit it — the point of this command is that it covers every source at once.

Response Format

{
  "count": 2,
  "active": [
    {
      "price": "0.500000000000",
      "currency": "GBP",
      "valuation_type": "AMV",
      "support_reference_type": "EMI_VALUATION_REPORT",
      "effective_date": "2026-01-15",
      "expiration_date": "2027-01-14",
      "share_class_name": "Ordinary",
      "status": "ACTIVE"
    }
  ],
  "history": []
}

history holds every row including expired ones; active is the subset the server considers live.

Key Fields

• price: FMV per share, a high-precision decimal string (e.g. "0.500000000000")
• currency: ISO code for this row — read it per row, never assume
• valuation_type: AMV, UMV, FMV, or SHARE_PRICE
• support_reference_type: which instrument the row came from (409A / EMI / CSOP / share price)
• effective_date / expiration_date: ISO YYYY-MM-DD
• status: ACTIVE or EXPIRED, computed server-side
• share_class_name: e.g. "Common", "Ordinary"

AMV and UMV

A single HMRC valuation produces two prices, both live at once:

• AMV — actual market value, discounted for restrictions on the shares
• UMV — unrestricted market value

They are not duplicates and one is not "the real one". Show both, labelled. If asked which applies to a specific grant, say that depends on the grant's terms and point the user to their equity advisor — the data does not record it, and the two carry different tax outcomes.

Fallback

If cap_table__get__valuations is unavailable for the company, fall back to cap_table__get__409a_valuations, which returns {count, current_409a, history} for US 409A data only. That response has no currency field — present its prices unlabelled rather than assuming a symbol, and check current_409a.is_expired before calling it current.

Workflow

Step 1 — Fetch Valuations

call_tool({"name": "cap_table__get__valuations", "arguments": {"corporation_id": corporation_id}})

Step 2 — Identify the Current Valuation

Use active. Do not re-derive live-vs-expired from dates: the server applies per-source rules (a share-price report has its own state; a null expiration means open-ended) that a date comparison gets wrong.

Where you do sort, sort on parsed dates, never raw strings. These are ISO so they happen to sort correctly, but the 409A fallback returns MM/DD/YYYY, where a string sort is month-major and ranks 12/01/2023 above 04/25/2025.

If active holds more than one row, they are all current — an AMV/UMV pair, or several share classes. Present them all rather than picking one.

Step 3 — Check Expiration

• Within 90 days of today — flag as a time-sensitive action item, not just a data point: bold it, give the exact days remaining, and recommend starting renewal now (especially if a financing round is in progress, since closing will likely push past the expiry date).
• Already past — flag as expired.
• No expiration_date — say it does not expire on a fixed date rather than inferring one.

Step 4 — Present Results

Show the history table and trend summary (see Presentation section).

Gates

Required inputs: corporation_id. If missing, call AskUserQuestion before proceeding (see carta-interaction-reference §4.1).

AI computation: No — this skill presents Carta data directly.

Presentation

Format: Table + trend summary

BLUF lead: Lead with the current FMV per share — with its currency and source — and its effective/expiration dates, before showing the history table.

Sort order: By effective_date descending (most recent first).

Date format: MMM d, yyyy (e.g. "Jan 15, 2026").

Currency: format price with the row's own currency, trimming trailing zeros. Never hardcode a $, and never default to USD — a GBP valuation shown as dollars is a reporting error, not a cosmetic one.

Effective	Expires	FMV/Share	Type	Source	Share Class	Status
Jan 15, 2026	Jan 14, 2027	GBP 0.50	AMV	EMI	Ordinary	Current
Jan 15, 2026	Jan 14, 2027	GBP 0.75	UMV	EMI	Ordinary	Current
Apr 25, 2024	Apr 24, 2025	USD 12.61	FMV	409A	Common	Expired

Drop the Type and Source columns when every row shares the same values (a US-only company gets back its familiar 409A table).

Do not render a bar chart for FMV history — values in mature companies cluster near the maximum, making bars uninformative (all bars look the same width). The table is sufficient. Instead, after the table, add a one-line trend summary:

FMV has grown Nx since YYYY, with [acceleration/steady growth] since [year].

Only compare like with like. A growth multiple across two different currencies is meaningless, and so is one that mixes an AMV with a UMV. Compute the trend within a single currency and a single valuation_type; if the series spans more than one, give a separate line for each or omit the trend entirely.

If multiple share classes exist, group by share class name in the table.

Caveats

• The price field is a string with many trailing zeros — always parse and format before displaying.
• A valuation with a past expiration_date should never be used for new grant pricing. Flag it prominently.
• Valuations are point-in-time snapshots — a material event (e.g. a new financing round) can invalidate a current valuation before its expiration date.
• This skill reads valuations; it cannot create or update one. Route those requests to the Carta app — for a non-US company that is the international valuations dashboard, not the 409A ledger.