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In this guide, we will break down all the steps necessary to perform
comparable company analysis, as required in most nancial analyst jobs.
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1/30/2020 Comparable Company Analysis - Free Guide, Template and Examples
The next step is to search either of those databases for companies that
operate in the same industry and that have similar characteristics. The
closer the match, the better.
The information you need will vary widely by industry and the company’s
stage in the business lifecycle. For mature businesses, you will look at
metrics like EBITDA and EPS, but for earlier stage companies you may
look at Gross Pro t or Revenue.
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1/30/2020 Comparable Company Analysis - Free Guide, Template and Examples
Company name
Share price
Market capitalization
Net debt
Enterprise value
Revenue
EBITDA
EPS
Analyst estimates
To learn more about this process, see our Business Valuation Course.
EV/Revenue
EV/Gross Pro t
EV/EBITDA
P/E
P/NAV
P/B
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1/30/2020 Comparable Company Analysis - Free Guide, Template and Examples
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1/30/2020 Comparable Company Analysis - Free Guide, Template and Examples
It’s important to clearly separate market data, nancial data, and the
multiples into separate sections, so the reader can easily follow the
information.
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1/30/2020 Comparable Company Analysis - Free Guide, Template and Examples
Or, is it because it has a much lower growth rate and requires more
CapEx spending?
This is where the art of being a great nancial analyst comes into play.
Multiples can also be used to tie the results of the nancial model back
to reality. If the result that comes out of the nancial model implies a
30x EV/EBITDA multiple, and none of the comps are currently trading
about 12x, the model may require some adjusting.
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1/30/2020 Comparable Company Analysis - Free Guide, Template and Examples
For more on the art of nancial modeling, please check out CFI’s wide
range of nancial modeling courses.
At CFI we’re on a mission to help you advance your career. Some of our
most popular free resources include:
Valuation Techniques
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Valuation course!
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instruction!
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