Equity Research Report

**sonyericsson** Wed Dec 28, 2005 4:19 pm

Equity Research Report
Hello Everybody,

I am a newbie and need your help.

I am analysing a company. I want to write a research report on the company. I have read the annual report of the company and gone through the product information given on the company's website. But, I am stuck at following points

1. Future projections: How do I get the future projections about sales, and other balance sheet items?

2. Revenue mix: The company has four business lines. But annual report or website does not talk about their contribution to revenue. How do I get this info?

3. What is the best way to come to a target price? DCF or multiple?

4. Industry info: Where do I get info about the industry dynamics? Who are the leaders? how bad is the competition? how bad is buyers' power ?

Can somebody please give me some directions?

Thank you,

SE

**blast_investor** Wed Dec 28, 2005 5:26 pm

Hi sonyericsson,

It sounds that you are trying to write an equity research report similar to those reports from Wall Street analysts.

Most large cap or mid cap stocks have research reports written by Wall Street analysts. The reports can be obtained for a fee, or sometimes for free from brokers.

Yahoo finance provides a summary table from Wall Street research in a web page.

For example, KO Coca Cola Wall Street estimate summary from Wall Street analysts' report:

http://finance.yahoo.com/q/ae?s=KO

You can obtain Wall Street analysts earning estimate for next year as well as Wall Street analysts' next 5 years' growth estimate in above link.

Are you trying to write a similar research report as most Wall Street analysts have done?

If you are trying to do a research report for your own investing, I do not believe complicated DCF modeling based on future earning projections are that much useful for value investing purposes.

I would even say that most of research reports generated by Wall Street analysts are pretty much useless for individual value investors.

**sonyericsson** Wed Dec 28, 2005 6:02 pm

Thanks Blast.

I am an MBA student. I want to start a career as a Buy Side Analyst when my MBA is over. As a preparatory step, some people suggested me to write a research report on a company. Therefore I am writing a report on a canadian company called Winpak. Its a small company with revenue around 350m.

I like value investing and I have been reading lot of books on value investing. I regularly visit this forum too. Therefore I thought I might get some pointers from you and other people visiting this forum.

SE

**blast_investor** Wed Dec 28, 2005 10:25 pm

I see.

sonyericsson wrote: Thanks Blast.

I am an MBA student. I want to start a career as a Buy Side Analyst when my MBA is over. As a preparatory step, some people SE