It is currently not possible to use BadVal and if-then-else logic to handle the 'No Data' system digital state which is returned by a formula data reference or analysis data reference attribute when one of the input tags for the calculation was created after the query time.
The present workaround requires making the analysis store its history and then backfill the data onto that tag, but this consumes a PI Point.
As a custom application developer, being able to handle this digital state with formula or analysis logic would help me have only good quality data in my calculations.