Frequently asked questions
Yes, you can add appendices to the two-pager report to explain your model or thesis, but this is limited to one extra page. This page could include a snapshot of your model (images) without any text or explanations. Key valuation assumptions and forecasts should form a part of the main two-pager report.
Round 1 - Score Card
Communication (30 points)
Presentation is concise and to the point
Information presented in logical order
Student shows creativity and professionalism
Fundamental Analysis (30 points)
The facts presented are correct and relevant to the analysis
Key information on the company and the industry have been well described
Business model and key revenue/cost drivers are appropriately identified
Defensiveness of the cash flow profile
Historical financial results snapshot
Overview of ESG risks and benefits
Investment Thesis (40 points)
Investment thesis supported by well-researched fundamental analysis
Student identifies direction (improvement/deterioration) of KPIs/key trends over the long term
Preliminary valuation analysis is used to ascertain attractiveness of risk/return
Student develops his/her own conclusions and long-term outlook
Read publicly available documents (company presentation, 10-Q, 10-K) as well as sell-side reports. It also helps to listen to a few recent earnings calls and the most recent investor and analyst day. This should provide a solid foundation for the two-pager analysis. While referring to sell-side reports, we recommend that you use your own thinking and creativity to make a decision instead of blindly relying on and reproducing the recommendation of sell-side reports.
