fix: dividend yield was nulled for every company

CHANGELOG.md

@@ -59,6 +59,12 @@ All notable changes to Investo are documented here. The format follows
   the CLI.)
 
 ### Fixed
+- **Dividend yield was silently `None` for every company.** yfinance reports `dividendYield` as a
+  *percent* (`1.61` = 1.61%), but `ratios.py` filtered it as a fraction with a `<= 0.15` bound, so
+  every real yield — even a 0.3% one — was discarded. `dividend_yield` now prefers the unambiguous
+  fraction fields (`trailingAnnualDividendYield`, then `dividendRate / price`) and normalizes
+  `dividendYield` from percent only as a last resort, bounded to a sane 0–30%. The figure now
+  appears in the research note's valuation grid (e.g. ITC 5.2%, Coal India 6.2%).
 - **Relative-to-industry reported 0.37 confidence over zero data.** A company in no curated peer
   group (KPIT and the whole automotive ER&D cohort were in none) computed no metrics, then scored
   `0.80 × (0.4 + 0.6×0) = 0.32` plus a `+0.05` **cross-source agreement bonus awarded over zero

src/investo/analysis/ratios.py

@@ -54,9 +54,7 @@ def bounded(name: str, value: float | None) -> float | None:
         "peg": bounded("peg", g("trailingPegRatio") or g("pegRatio")),
         "ev_ebitda": bounded("ev_ebitda", g("enterpriseToEbitda")),
         "price_to_sales": bounded("price_to_sales", g("priceToSalesTrailing12Months")),
-        # Yahoo's dividendYield is inconsistent/occasionally garbage; keep only realistic
-        # equity yields (<=15%) and drop anomalies.
-        "dividend_yield": (lambda y: y if (y is not None and 0 <= y <= 0.15) else None)(g("dividendYield")),
+        "dividend_yield": _dividend_yield(g),
         "roe": g("returnOnEquity"),
         "roa": g("returnOnAssets"),
         "gross_margin": g("grossMargins"),
@@ -73,6 +71,44 @@ def bounded(name: str, value: float | None) -> float | None:
     }
 
 
+# A dividend yield above this (as a fraction) is treated as garbage rather than a real yield.
+_MAX_DIV_YIELD = 0.30
+
+
+def _dividend_yield(g) -> float | None:
+    """Dividend yield as a decimal fraction (0.03 == 3%).
+
+    Yahoo's dividend fields are on inconsistent scales, and ``dividendYield`` specifically has
+    flipped between a fraction and a percent across yfinance versions (1.5.x returns a *percent*:
+    ``1.61`` means 1.61%). Rather than guess its scale we prefer the unambiguous fields:
+
+    1. ``trailingAnnualDividendYield`` — a decimal fraction, stable across versions.
+    2. ``dividendRate / price`` — a computed fraction (matches the trailing figure in practice).
+    3. ``dividendYield`` — last resort, normalized from percent to fraction.
+
+    Any candidate outside a sane 0-30% band is rejected as an anomaly.
+    """
+    def ok(frac: float | None) -> float | None:
+        return frac if (frac is not None and 0 < frac <= _MAX_DIV_YIELD) else None
+
+    tady = ok(g("trailingAnnualDividendYield"))  # already a fraction
+    if tady is not None:
+        return tady
+
+    rate, price = g("dividendRate"), g("currentPrice") or g("regularMarketPrice")
+    if rate is not None and price:
+        computed = ok(rate / price)
+        if computed is not None:
+            return computed
+
+    dy = g("dividendYield")
+    if dy is not None:
+        # yfinance >=1.x reports this as a percent; >1 is unambiguously a percent, and the
+        # current contract is percent throughout, so normalize by 100.
+        return ok(dy / 100.0)
+    return None
+
+
 def _tax_rate(inc_values: dict[str, float | None]) -> float:
     rate = F.pick(inc_values, *F.TAX_RATE)
     if rate is not None and 0 <= rate <= 1:

src/investo/render/html.py

@@ -370,6 +370,7 @@ def _valuation(r: AnalysisReport) -> str:
             ("ROE", pct(ra.roe)), ("ROCE", pct(ra.roce)),
             ("Operating margin", pct(ra.operating_margin)), ("Net margin", pct(ra.net_margin)),
             ("Debt/Equity", ratio(ra.debt_to_equity)), ("Current ratio", ratio(ra.current_ratio)),
+            ("Dividend yield", pct(ra.dividend_yield)),
         ]
         live = [(k, v) for k, v in pairs if v != EM_DASH]
         if live:

tests/test_ratios.py

@@ -62,3 +62,50 @@ def test_implausible_multiples_dropped():
     r = compute_ratios("X.NS", info={"enterpriseToEbitda": 975.0, "trailingPE": 12.0}, financials=_financials())
     assert r.ev_ebitda is None   # 975 is out of bounds -> treated as unknown
     assert r.pe == 12.0
+
+
+# --------------------------------------------------------------------------------------
+# Dividend yield: yfinance reports these fields on different scales, and dividendYield in
+# particular flipped to a *percent* (1.61 == 1.61%) — the old <=0.15 fraction filter nulled
+# every real yield. Field shapes below are the actual values fetched for these names.
+# --------------------------------------------------------------------------------------
+def test_dividend_yield_prefers_the_unambiguous_fraction_field():
+    # trailingAnnualDividendYield is a decimal fraction (HDFC Bank ~1.6%).
+    r = compute_ratios("HDFCBANK.NS", info={
+        "dividendYield": 1.61, "trailingAnnualDividendYield": 0.016083,
+        "dividendRate": 13.0, "currentPrice": 819.6}, financials=_financials())
+    assert r.dividend_yield is not None
+    assert abs(r.dividend_yield - 0.0161) < 1e-4  # ~1.6%, NOT nulled
+
+
+def test_percent_scale_dividend_yield_is_normalized_not_dropped():
+    # Only dividendYield present, on the percent scale. Must become a 5.7% fraction, not None.
+    r = compute_ratios("ITC.NS", info={"dividendYield": 5.73}, financials=_financials())
+    assert r.dividend_yield is not None
+    assert abs(r.dividend_yield - 0.0573) < 1e-4
+
+
+def test_low_yield_is_kept_not_dropped():
+    # AAPL ~0.3% — the old filter kept only <0.15% and this survived by luck; confirm it holds.
+    r = compute_ratios("AAPL", info={
+        "dividendYield": 0.32, "trailingAnnualDividendYield": 0.0031}, financials=_financials())
+    assert r.dividend_yield is not None
+    assert abs(r.dividend_yield - 0.0031) < 1e-4
+
+
+def test_dividend_rate_over_price_is_the_fallback():
+    r = compute_ratios("X.NS", info={"dividendRate": 22.0, "currentPrice": 427.65},
+                       financials=_financials())
+    assert r.dividend_yield is not None
+    assert abs(r.dividend_yield - 0.0514) < 1e-3  # 22/427.65
+
+
+def test_no_dividend_is_none():
+    r = compute_ratios("NODIV.NS", info={"trailingPE": 30.0}, financials=_financials())
+    assert r.dividend_yield is None
+
+
+def test_garbage_dividend_yield_is_rejected():
+    # A 300% "yield" is an anomaly, not a real payout.
+    r = compute_ratios("X.NS", info={"trailingAnnualDividendYield": 3.0}, financials=_financials())
+    assert r.dividend_yield is None