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 41–50 of 50 · filtered from 100Clear filters
  1. 085An Indian IT exporter earns 80% of its revenue in dollars. The rupee strengthens from 84 to 80 and half the exposure is hedged at 83. What happens to rupee revenue and margin?Macro and commodity sensitivityCoreState StreetBoston · 2020
  2. 087A retailer that is a 3% position falls 18% in a day on one quarter's same-store sales miss, 2% against 7% expected. Do you add, hold or cut, and what evidence decides it?Buy-side portfolio judgementCoreMulti-manager podHedge fund long/short
  3. 088Pitch a hotel company in three minutes, using revenue per available room as the spine: room rate up 5%, occupancy from 70% to 74%, and 60% of costs fixed.Stock pitchCoreWellington ManagementHong Kong · 2022
  4. 089A pharma company cuts growth guidance from 12% to 7%. Your EPS estimate falls from Rs 48 to Rs 43 and the stock drops 15% from Rs 960 to Rs 816. How much of the cut is already priced in?Earnings and resultsCoreSell-side equity researchHedge fund long/short
  5. 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
  6. 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
  7. 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
  8. 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
  9. 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
  10. 098Write a one-page investment memo on a PVC pipe maker trading at 32x earnings, with revenue of Rs 3,100 crore, 30,000 dealers and resin prices that swing 25% a year. What goes in each section?Stock pitchCoreFidelity InvestmentsToronto · 2026

Company names and figures are illustrative.