Professional Documents
Culture Documents
3 Stock Valuation Fundamental Analysis
3 Stock Valuation Fundamental Analysis
Fundamental Analysis
Essentials of Corporate Finance
Chapters 2, 3, 5, 7
Topics
Data Gathering
Building Models
Analysis
Determining the Business Outlook and Value
Buy / Sell Recommendations
February 26,
2007
Fundamental Analysis
Company Analysis
Economic Analysis
February 26,
2007
Ratio Analysis
Cash Flow Analysis
Management Analysis
Economic Forecasts and Trends
Industry Analysis
Investors
February 26,
2007
Fundamental Analysis
Process
Gathering Data
Building Models and Analyzing Data
Determining the Business Outlook and Value
Developing a Recommendation
February 26,
2007
Data Gathering
Media
February 26,
2007
SEC Filings (e.g. 10K (Annual Report), 8K, Proxy Statements, etc)
Company press releases
Company website
Industry specific publications (e.g. Banking American Banker)
General Media
Morningstar
Barrons
Materials Created by Glenn Snyder San Francisco State
University
Data Gathering
Financial Databases
February 26,
2007
FactSet
Bloomberg
Reuters
Materials Created by Glenn Snyder San Francisco State
University
Building Models
Model Inputs
Model Outputs
February 26,
2007
Building Models
February 26,
2007
Analysis
Industry Analysis
February 26,
2007
Financial Projections
Peer Comparison
Management Analysis
Materials Created by Glenn Snyder San Francisco State
University
10
February 26,
2007
11
Value Investor
Growth Investor
February 26,
2007
12
Example:
Research Conclusion:
February 26,
2007
Buy
13
Highly Competitive
February 26,
2007
14