Equity Research case studies, worked step by step

Cases
100
Traced to a firm
30
Topics
12
Hard
30
Topic
All topicsStock pitch15Earnings and results9Forecasting and modelling10DCF and intrinsic value9Relative valuation7Financials6Sector economics9Forensic accounting9Industry structure and moats7Macro and commodity sensitivity7Capital allocation and corporate actions7Buy-side portfolio judgement5
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 31–35 of 35 · filtered from 100Clear filters
  1. 090Build bear, base and bull EBITDA for a diagnostics chain where test volumes grow 5%, 10% or 15%, 55% of costs are fixed and today's margin is 24%. Which scenario does the price reflect?Forecasting and modellingCoreSell-side equity researchResearch KPO and GCC
  2. 091Build WACC for an auto components maker whose regression beta is 1.3 while peers' unlevered beta averages 0.9. Which beta do you use, and why?DCF and intrinsic valueCoreSell-side equity researchIndian brokerage research
  3. 094A pharma company carries contingent liabilities of Rs 1,200 crore against net worth of Rs 2,000 crore, mainly tax disputes, and has just changed auditor. How would you size the risk in value per share?Forensic accountingCoreSell-side equity researchHedge fund long/short
  4. 095Soda ash is priced off the industry cost curve. The lowest-cost producer makes it for Rs 18,000 a tonne and the marginal producer for Rs 26,000. A new low-cost entrant adds 10% capacity. What happens to price and to the low-cost producer's margin?Industry structure and moatsCoreSell-side equity researchBuy-side equity research
  5. 097A steel company plans to double capacity for Rs 8,000 crore against a market value of Rs 12,000 crore. The new plant's mid-cycle ROCE is 11% against a 12% cost of capital. Should the market welcome it?Capital allocation and corporate actionsCoreLong-only asset managementSell-side equity research

Company names and figures are illustrative.