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 21–30 of 30 · filtered from 100Clear filters
  1. 055The street values Velmora Refining at 6x FY27 EBITDA built on a peak refining margin. You normalise the margin to mid-cycle. Defend your variant view of the multiple.Relative valuationHardFranklin TempletonSan Mateo · 2024
  2. 062Hedge a Rs 50 crore long in Ornavi Specialty Tubes, which has no close listed peer. Given its betas to the market and to a capital goods basket, size the hedge and say what risk is left.Buy-side portfolio judgementHardBalyasny Asset ManagementNew York · 2026
  3. 063In rapid pitches to a hiring manager, defend a long on Quintara Hospitals and a short on Selvoro Diagnostics in five minutes, with one driver and one number each.Stock pitchCoreFidelity InvestmentsToronto · 2024
  4. 073How would you analyse a stock? Walk the data sheet of Drishvan Cables, from the business to the numbers to the valuation, and end with a view.Stock pitchCoreJefferiesNew York · 2026
  5. 075On the spot, give a two-line thesis on Aeronvik Aerospace after a quality grounding cut deliveries from 400 to 280 aircraft, and name the one number that would change your view.Stock pitchWarm upSchrodersNew York · 2025
  6. 076Your case competition pitch went long a retailer at Rs 400. A year later it trades at Rs 280 on lower earnings. Split the fall into the earnings miss and the de-rating, and say what you would do now.Stock pitchHardPoint72New York · 2026
  7. 084In a three-player food delivery market, who is poised to win and who is doomed to fail, given each player's share of orders, contribution per order and cash?Industry structure and moatsHardCoatue ManagementNew York · 2014
  8. 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
  9. 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
  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.