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 1–9 of 9 · filtered from 100Clear filters
  1. 002Quarzen Software beats revenue estimates by 1%, but guides next quarter to 2% sequential growth against a street expectation of 3.5%, and large deal bookings fell 20%. The stock falls 9%. Explain the move and rebuild next year's revenue.Earnings and resultsHardHedge fund long/shortSell-side equity research
  2. 014Fenvara Capital Goods has an order book of Rs 12,000 crore, order inflow of Rs 2,100 crore this year against Rs 3,000 crore last year, and revenue of Rs 2,600 crore. What does a book to bill of 0.8 imply for revenue two years out?Earnings and resultsCoreSell-side equity researchIndian brokerage research
  3. 027Zentara Chemicals' EBITDA fell from Rs 400 crore to Rs 310 crore. Build the bridge from price, volume, raw material, currency and other items, and judge which parts are temporary.Earnings and resultsHardSell-side equity researchBuy-side equity research
  4. 039Twenty-minute investing case with rapid-fire questions: Sarvaka Consumer's revenue grew 9% against 12% expected, the EBITDA margin beat, EPS beat by 3% on other income, and the stock fell 4%. Answer six quick questions crisply.Earnings and resultsWarm upFidelity InvestmentsToronto · 2024
  5. 052Build a quarterly results preview for Tavirant Cement from volume, realisation and cost per tonne. What EBITDA do you expect, and which line is consensus most likely wrong on?Earnings and resultsCoreSell-side equity researchIndian brokerage research
  6. 064Pellora Cooling sells 40% of its annual volume in April to June, and first-quarter revenue is up 30% on a heatwave. Why is multiplying the quarter by four wrong, and what is a sensible full-year number?Earnings and resultsWarm upSell-side equity researchIndian brokerage research
  7. 077An electronics maker beats consensus EPS by 10%, but operating cash flow is negative, receivables jumped Rs 300 crore and there is a one-off export incentive. Was it a real beat?Earnings and resultsHardSell-side equity researchHedge fund long/short
  8. 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
  9. 099An appliance maker raised prices 5% from the second month of a quarter in which revenue was Rs 900 crore. At flat volumes, how much extra revenue does the full-quarter effect add next quarter?Earnings and resultsWarm upSell-side equity researchIndian brokerage research

Company names and figures are illustrative.