Financial Analysis

Financial Analysis Skills

This skill provides comprehensive financial analysis capabilities for investment banking, equity research, and corporate finance work.

Available Modules

1. Comps Analysis (可比公司分析)

Build institutional-grade comparable company analyses with:

• Operating metrics (Revenue, Growth, Margins, EBITDA)
• Valuation multiples (EV/Revenue, EV/EBITDA, P/E)
• Statistical benchmarking (Median, Quartiles)
• Excel output with proper formatting

2. DCF Model (DCF 估值)

Discounted Cash Flow modeling:

• Revenue & cash flow projections
• WACC calculation
• Terminal value (Perpetuity growth vs. Exit multiple)
• Sensitivity analysis
• Enterprise value to equity value桥接

3. LBO Model (LBO 模型)

Leveraged Buyout analysis:

• Sources & uses of funds
• Debt schedule (Revolver, Term Loan, Subordinated)
• IRR & MOIC calculations
• Exit analysis

4. 3-Statements (三表模型)

Integrated financial model:

• Income Statement
• Balance Sheet
• Cash Flow Statement
• Working capital schedules

Quick Start

Comps Analysis

To analyze comparable companies:

1. Define peer group - Select 5-10 comparable companies
2. Gather data - Revenue, EBITDA, multiples from financial statements
3. Build structure - Set up Excel with proper headers
4. Calculate metrics - Margins, growth rates, valuation multiples
5. Add statistics - Median, quartiles for context

DCF Valuation

To value a company using DCF:

1. Project financials - 5-10 year revenue/EBITDA forecast
2. Calculate FCF - Free Cash Flow = EBIT(1-Tax) + D&A - CapEx - Working Capital
3. Determine WACC - Weighted Average Cost of Capital
4. Discount FCF - Present value of projected FCF
5. Terminal value - Perpetuity growth or exit multiple method
6. Sum and bridge - EV - Net Debt = Equity Value

Output Format

Excel Structure

┌─────────────────────────────────────────────┐
│ [COMPANY] - VALUATION ANALYSIS              │
│ As of [Date] | All figures in USD Millions │
├─────────────────────────────────────────────┤
│ OPERATING METRICS                           │
│ Company | Revenue | Growth | Gross Margin   │
├─────────────────────────────────────────────┤
│ Company A   | 1,000   | 10%   | 45%        │
│ Company B   | 1,500   | 12%   | 52%        │
│ ...         |         |       |             │
│ Median      | =MEDIAN | =MEDIAN| =MEDIAN   │
├─────────────────────────────────────────────┤
│ VALUATION MULTIPLES                         │
│ Company | EV/Rev | EV/EBITDA | P/E          │
├─────────────────────────────────────────────┤
│ Company A   | 5.0x   | 12.0x  | 25.0x     │
│ Company B   | 6.5x   | 15.0x  | 30.0x      │
│ ...         |         |        |            │
│ Median      | =MEDIAN | =MEDIAN| =MEDIAN   │
└─────────────────────────────────────────────┘

Key Formulas

Valuation Multiples

EV/Revenue = Enterprise Value / Revenue
EV/EBITDA = Enterprise Value / EBITDA
P/E = Market Cap / Net Income

Free Cash Flow

FCF = EBIT × (1 - Tax Rate) + D&A - CapEx - Δ Working Capital

DCF Terminal Value

Perpetuity Growth: TV = FCF(n) × (1 + g) / (WACC - g)
Exit Multiple: TV = EBITDA(n) × Exit Multiple

WACC Calculation

WACC = (E/V) × Re + (D/V) × Rd × (1 - Tc)
Where:
  E = Equity Value
  D = Debt Value  
  V = E + D
  Re = Cost of Equity
  Rd = Cost of Debt
  Tc = Corporate Tax Rate

Best Practices

Data Sources

• Primary: Bloomberg, FactSet, S&P Capital IQ
• Secondary: SEC filings (10-K, 10-Q), company reports
• Verify: Cross-check numbers across sources

Quality Checks

• ✓ Margins: Gross > EBITDA > Net (always)
• ✓ Multiples: Reasonable ranges (EV/EBITDA: 8-25x typical)
• ✓ Growth: Higher growth → higher multiples
• ✓ Comparability: Same industry, similar size

Documentation

• Source every number (Bloomberg ticker, SEC filing page)
• Document assumptions (growth rates, terminal growth)
• Add hyperlinks where possible
• Date-stamp analysis

Common Mistakes to Avoid

❌ Mixing time periods (LTM vs Quarterly) ❌ Using different currencies without conversion ❌ Hardcoding values instead of cell references ❌ Missing statistics (median, quartiles) ❌ Including non-comparable companies ❌ Forgetting to bridge EV to Equity Value

Notes

1. This skill provides methodology - Actual financial data requires subscriptions (Bloomberg, FactSet, etc.)

2. Excel templates - Can generate structured Excel files with proper formulas

3. Analysis depth - Adjust based on purpose (quick pitch vs. IC memo)

4. Industry variations - SaaS needs different metrics than industrials

Based on anthropics/financial-services-plugins - converted for OpenClaw