Led by experienced sell-side professionals, this boot camp is an introduction on how equity research professionals use financial models to provide research & insights in order to drive investment decisions. Specifically, trainees will learn how ER professionals use earnings releases and quarterly model updates, how they formulate investment theses, adjustments made to normalize financial metrics to arrive at adjusted EBITDA, and modeling best practices.
What You’ll Learn
- Understand various factors that make up investment thesis.
- Learn how to approach earnings releases and quarterly model updates.
- Gain practice in analyzing earnings reports and normalizing them to arrive at adjusted EBITDA.
- Learn how to adjust quarterly models and “wrap” quarterly into annual forecasts while handling reconciliation challenges.
- Research considerations
- Types of reports research professionals develop
- Typical research workflow around earnings releases and quarterly model updates
- Research process
- Formulating of investment thesis
- Developing research best practices
- Analysis of earnings reports
- Moving from extraction of key financial metrics to the normalization of financial metrics and adjusted EBITDA
- Quarterly model considerations
- Adjustments to quarterly models
- “Wrapping” quarterly into annual forecasts and handling reconciliation challenges
This virtual training session is scheduled for 1-5p (ET). The session will use interactive exercises as learners move back and forth between classroom lecture and small group breakout rooms.
Comprehensive training materials, reusable modifiable Excel model templates, unlimited e-mail support for content-related questions for 12 months post-seminar.