Nicholas Lin
b891783b23
Financial services plugins for Claude Code covering: - Equity Research - Financial Analysis (comps, DCF, LBO, 3-statements, check-deck, check-model) - Investment Banking (strip profiles, CIM, pitch decks, merger models) - Private Equity (deal screening, IC memos, portfolio monitoring) - Wealth Management
28 KiB
Equity Research Initiation Report Template
This template provides the structure for creating a comprehensive equity research initiation report. Use this as a guide when constructing the final report document.
NOTE: The actual report MUST be created using the DOCX skill. DO NOT generate markdown content.
CRITICAL REQUIREMENTS:
- Generate 20-30+ chart images using Python (matplotlib/plotly) BEFORE creating the Word document
- Use DOCX skill: Create professional report with proper styles, headers/footers, and formatting
- Embed actual chart images: Insert the generated PNG/JPG chart files into the Word document at appropriate locations
- NO MARKDOWN: Do not generate markdown content. Use DOCX skill to create a .docx file.
CRITICAL FORMATTING GUIDANCE:
- MAXIMUM DENSITY: Every page should be packed with information. Intersperse text, charts, and tables throughout.
- NO ORPHANED SECTIONS: Never have a section header alone or a single chart on its own page.
- 20-30+ ACTUAL CHART IMAGES: Generate charts as image files, then embed within text sections using DOCX skill.
PAGE 1: INVESTMENT UPDATE (MOST IMPORTANT PAGE)
CRITICAL: Page 1 is NOT a traditional executive summary. It is an Investment Update with a specific institutional format used by professional equity research firms.
IMPORTANT STRUCTURAL NOTES:
- This is an "Investment Update" or "Company Update" page, not "Executive Summary"
- Uses a rating box in top left corner
- Features stock price performance chart (Figure 1) prominently
- Contains 3-4 detailed bullet points with ■ character
- Each bullet has bold topic header followed by 3-5 sentence explanation
- Bottom section has financial and valuation metrics table
- All charts must have figure numbers (Figure 1, Figure 2, etc.) with source lines
Layout Structure
TOP LEFT - RATING BOX:
Rating: [OUTPERFORM / NEUTRAL / UNDERWEIGHT / etc.]
Price ([Date]): $[XX.XX]
Target Price: $[XX.XX]
52-Week Range: $[XX.XX] - $[XX.XX]
Market Cap: $[XX.X]B
Enterprise Value: $[XX.X]B
TOP LEFT - RESEARCH ANALYSTS:
[Name], [Credentials (Ph.D., CFA, M.D., etc.)]
[Email] | [Phone]
[Name 2], [Credentials]
[Email] | [Phone]
TOP RIGHT - STOCK PRICE PERFORMANCE:
Figure 1 - [Company Name] Stock Price Performance
[Line chart showing stock price over 12-24 months with benchmark comparison]
Source: Company data, [Firm Name] estimates.
MAIN CONTENT - GRAY HEADER BAR:
[OUTPERFORM / NEUTRAL / etc.] RECOMMENDATION / COMPANY UPDATE
MAIN CONTENT - DETAILED BULLETS (3-4 bullets):
Use ■ character for bullets. Each bullet follows this format:
■ **[Bold Topic Header capturing main point].** Regular text explanation providing 3-5 sentences of detail with specific numbers, comparisons, and analysis. Lead with numbers and quantification where possible. Use "vs." not "versus". Be specific and concrete.
■ **[Second Topic Header].** [3-5 sentences of detailed explanation...]
■ **[Third Topic Header].** [3-5 sentences of detailed explanation...]
■ **[Fourth Topic Header - Optional].** [3-5 sentences of detailed explanation...]
EXAMPLE BULLET FORMAT:
■ **Constitutional safety and enterprise focus should enable $635bn+ TAM by 2030.**
Safety-first model development ethos, strong coding capabilities and distribution partnerships
have aided Anthropic's enterprise market adoption. With the AI market expected to reach $635bn+
by 2030, Anthropic is well-positioned to capture share given its focus on safety and enterprise
use cases. Management has indicated that 60% of current revenue comes from enterprise customers,
suggesting strong product-market fit in high-value segments.
BOTTOM SECTION - FINANCIAL AND VALUATION METRICS TABLE:
[Year-3]A [Year-2]A [Year-1]A [Year]E [Year+1]E
Revenue ($M) [X] [X] [X] [X] [X]
Revenue Growth (%) X.X% X.X% X.X% X.X% X.X%
Gross Margin (%) X.X% X.X% X.X% X.X% X.X%
EBITDA ($M) [X] [X] [X] [X] [X]
EBITDA Margin (%) X.X% X.X% X.X% X.X% X.X%
EPS ($) X.XX X.XX X.XX X.XX X.XX
P/E (x) XX.Xx XX.Xx XX.Xx XX.Xx XX.Xx
EV/Revenue (x) X.Xx X.Xx X.Xx X.Xx X.Xx
EV/EBITDA (x) XX.Xx XX.Xx XX.Xx XX.Xx XX.Xx
Note: Use "A" suffix for actual/historical years, "E" suffix for estimated/projected years
Source: Company data, [Firm Name] estimates.
FIGURE NUMBERING AND FORMATTING STANDARDS
CRITICAL: All charts, graphs, and tables must follow strict figure numbering conventions used in professional equity research.
Figure Numbering Format
Every chart/table must have:
- Sequential numbering: Figure 1, Figure 2, Figure 3, etc. (continue sequentially throughout entire report)
- Descriptive title: "Figure X - [Company] [Specific Metric] [Type of Chart/Analysis]"
- Source line (always at bottom): "Source: Company data, [Firm Name] estimates."
Examples:
- Figure 1 - [Company] Stock Price Performance
- Figure 2 - [Company] Historical and Projected Revenue Mix by Product
- Figure 3 - [Company] Revenue by Geographic Region
- Figure 4 - [Product Name] Revenue and Price per Patient per Year
- Figure 5 - [Company] Gross Margin Evolution
- Figure 6 - DCF Sensitivity Analysis ($/share)
- Figure 7 - Valuation Football Field
Caption Format
Figure X - [Descriptive Title]
[Chart/Table/Graph content]
Source: Company data, [Firm Name] estimates.
For tables with multiple data sources:
Figure X - [Descriptive Title]
[Table content]
Source: Company filings, FactSet, [Firm Name] estimates.
Placement Guidelines
- Figures should be numbered in order of appearance in the report
- First figure (Figure 1) is typically the stock price chart or revenue growth trajectory on Page 1
- Each figure must have its caption directly below the visual
- Source line should be in smaller font, italicized, at the very bottom of the figure
PAGE 2: TABLE OF CONTENTS
Executive Summary....................................................1
Investment Thesis & Risks..........................................3
Company Overview.......................................................6
Business Description & History................................6
Management & Ownership..........................................8
Products & Technology...........................................9
Customers & Go-to-Market......................................11
Growth Outlook & Drivers...........................................13
Financial Analysis & Performance.................................16
Historical Performance........................................16
Financial Projections.........................................19
Industry Overview & Competitive Landscape.....................21
Market Size & TAM..............................................21
Competitive Analysis..........................................23
Industry Trends................................................25
Valuation Analysis..................................................27
Appendices & Disclosures...........................................31
PAGES 3-5: INVESTMENT THESIS & RISKS
LAYOUT PRINCIPLE: Intersperse text with 2-3 charts in this section. Each page should have both text AND graphics. Never have pages with text only or charts only.
Investment Thesis
[Thesis Pillar 1]: [Title - e.g., "Large and Growing TAM"]
[Opening sentence with key statistic]
[Paragraph 1: Market opportunity quantification]
- Current market size
- Growth drivers
- Company's positioning
[Paragraph 2: Why company will capture share]
- Competitive advantages
- Go-to-market strategy
- Early traction/proof points
[Paragraph 3: Financial impact]
- Revenue opportunity
- Margin profile
- Timeline
[EMBED CHART: TAM Growth Chart] - Stacked area chart showing market size evolution and company's opportunity
[Thesis Pillar 2]: [Title - e.g., "Differentiated Technology/Product"]
[Similar structure - 3 paragraphs covering the opportunity, competitive positioning, and financial impact]
[EMBED CHART: Competitive Positioning Matrix] - 2×2 chart showing company vs. competitors on key dimensions
[Thesis Pillar 3]: [Title - e.g., "Strong Execution and Management"]
[Similar structure]
[Add 2-3 more pillars as needed]
[EMBED CHART: Margin Expansion Pathway] - Waterfall or line chart showing path to margin improvement
Investment Risks
Company-Specific Risks
[Risk 1]: [Title - e.g., "Customer Concentration"] [Description of risk, quantification if possible, mitigating factors. 2-3 sentences.]
[Risk 2]: [Title - e.g., "Execution Risk on Product Roadmap"] [Description. 2-3 sentences.]
[Risk 3-5]: [Additional company-specific risks] [Continue with 3-5 total company risks]
Industry/Market Risks
[Risk 1]: [Title - e.g., "Regulatory Uncertainty"] [Description. 2-3 sentences.]
[Risk 2]: [Title - e.g., "Intense Competition"] [Description. 2-3 sentences.]
[Risk 3-4]: [Additional industry/market risks] [Continue with 2-4 total industry risks]
PAGES 8-19: COMPANY 101
Company Description (1 page)
Overview [3-4 paragraphs describing:
- What the company does (in plain English)
- How it makes money
- Who its customers are
- Geographic presence
- Scale/size metrics]
Business Model Diagram/Visual [Insert visual showing how the company creates value]
Company History (2-3 pages)
The Early Days: [Founding Story Title]
[Paragraph on founding: who, when, why, initial vision]
Timeline of Key Milestones
[Year]: [Founding event, initial funding]
[Year]: [Product launch, key milestone]
[Year]: [Major partnership, funding round]
[Year]: [Geographic expansion, new product]
[Year]: [Recent achievement]
[Major Turning Point or Pivot] [If applicable, describe any major strategic shifts]
[Company Name] Today: [Current State Title] [Paragraphs describing current position, recent developments, current strategy]
Management & Ownership (2 pages)
Key Executives
For each executive:
[Name] - [Title]
[Bio paragraph including:
- Current role and responsibilities
- Prior experience and track record
- Key accomplishments at company
- Education/credentials]
Corporate Structure & Governance
- Entity type (C-Corp, PBC, etc.)
- Board composition
- Special governance features
- [Include governance diagram if applicable]
Ownership Structure [if disclosed]
- Major shareholders and ownership %
- Strategic investors
- Employee ownership
- Insider ownership trends
Core Technology/Products (2-3 pages)
Technology Overview [Description of core technology/platform]
Product Portfolio
For each major product:
[Product Name]
Description:
[What it does, key features]
Target Customers:
[Who uses it, use cases]
Pricing Model:
[How it's priced, typical contract values]
Competitive Positioning:
[How it compares to alternatives]
Traction:
[Customers, revenue, growth metrics]
Product Roadmap [Future products/features in development]
Customers & Distribution (2-3 pages)
Customer Base
- Total customers: [number]
- Customer segments (Enterprise, Mid-Market, SMB)
- Geographic breakdown
- Customer case studies/testimonials
Go-to-Market Strategy
- Sales channels (direct, partner, etc.)
- Sales cycle and CAC
- Key partnerships for distribution
- Marketing strategy
Customer Economics
- LTV/CAC ratio
- Net retention rate
- Churn rates
- Expansion rates
PAGES 20-22: GROWTH OUTLOOK
Growth Framework Overview
Short-term Growth Drivers (1-2 years)
- [Driver 1]
- [Driver 2]
- [Driver 3]
Medium-term Growth Drivers (3-5 years)
- [Driver 1]
- [Driver 2]
Detailed Growth Driver Analysis
[Growth Driver 1]: [Title]
Current State: [Baseline metrics, current performance]
Opportunity: [Market size, company positioning, growth potential]
Timeline & Milestones:
- Near-term (1-2 years): [Expected progress]
- Medium-term (3-5 years): [Expected progress]
Risks & Challenges: [What could prevent realization of this opportunity]
[Repeat for each major growth driver]
Financial Projections
Revenue Build-up [Visual showing how revenue grows from current to projected]
Scenario Analysis [Table or chart showing Bear/Base/Bull case projections]
PAGES 21-24: FINANCIAL ANALYSIS & PERFORMANCE
LAYOUT PRINCIPLE: This section should be VERY DENSE with 5-7 charts interspersed with financial tables. Each page should have multiple elements (table + 1-2 charts).
Historical Financial Analysis
Income Statement Highlights (3-5 Year History)
2021 2022 2023 2024 LTM
Revenue ($M) [X] [X] [X] [X] [X]
Growth % - X% X% X% X%
Gross Profit ($M) [X] [X] [X] [X] [X]
Margin % X% X% X% X% X%
EBITDA ($M) [X] [X] [X] [X] [X]
Margin % X% X% X% X% X%
Net Income ($M) [X] [X] [X] [X] [X]
Margin % X% X% X% X% X%
FCF ($M) [X] [X] [X] [X] [X]
[CHART 1: Revenue Growth Trajectory] Line chart showing historical revenue with annotations for key milestones. Include growth % labels on chart.
[CHART 2: REVENUE BY PRODUCT/SEGMENT] ⭐ CRITICAL Stacked area chart showing revenue composition by product line or business segment over time. This shows mix shift and which products are driving growth.
Example segments:
- Product A Revenue
- Product B Revenue
- Product C Revenue
- Services Revenue
[CHART 3: REVENUE BY GEOGRAPHY] ⭐ CRITICAL Stacked bar chart showing revenue breakdown by geographic region over time.
Example regions:
- North America
- Europe
- Asia-Pacific
- Rest of World
Financial Performance Analysis
[CHART 4: Gross Margin Evolution] Line chart with annotations explaining margin drivers (scale, pricing, mix, etc.)
[CHART 5: Operating Margin Progression] Waterfall chart showing path from gross margin to operating margin, or line chart showing EBITDA margin trend
[CHART 6: Free Cash Flow Generation] Bar + line combo chart: Bars = FCF, Line = FCF margin %
[CHART 7: Key Operating Metrics Dashboard] Multi-panel chart showing 3-4 key metrics:
- Customer count or user growth
- ARPU (Average Revenue Per User) or ACV (Annual Contract Value)
- Customer cohort retention or net revenue retention
- LTV/CAC or magic number or other unit economic metric
Forward Projections (3-5 Years)
Projected Financial Model
2025E 2026E 2027E 2028E 2029E
Revenue ($M) [X] [X] [X] [X] [X]
Growth % X% X% X% X% X%
Gross Profit ($M) [X] [X] [X] [X] [X]
Margin % X% X% X% X% X%
EBITDA ($M) [X] [X] [X] [X] [X]
Margin % X% X% X% X% X%
FCF ($M) [X] [X] [X] [X] [X]
FCF Margin % X% X% X% X% X%
Key Assumptions
- Revenue growth drivers and assumptions
- Margin progression assumptions
- CapEx as % of revenue
- Working capital assumptions
Charts:
- Revenue bridge showing growth drivers
- Margin waterfall showing path to profitability/margin expansion
- Free cash flow trajectory
Fundraising & Valuation [For Private Companies]
Fundraising History
Round Date Amount Valuation Lead Investor(s)
Seed [Date] $XM $XM [Investor]
Series A [Date] $XM $XM [Investor]
Series B [Date] $XM $XM [Investor]
[etc.]
Valuation Evolution Chart [Visual showing valuation progression over time]
Current Valuation Metrics
- Latest valuation: $XXbn
- Implied valuation multiple: XX.Xx
- Comparison to public peers
PAGES 26-31: INDUSTRY OVERVIEW
Industry Definition & Market Size
Industry Overview [2-3 paragraphs on:
- Industry definition and scope
- Current market size
- Historical growth rates
- Key trends and drivers]
Market Size Chart [Visual showing market growth from historical through projected]
Competitive Landscape
Competitive Positioning Matrix [2x2 chart showing company vs. competitors on key dimensions]
Competitive Comparison Table
Metric [Company] Comp A Comp B Comp C Comp D
Revenue ($B) [X] [X] [X] [X] [X]
Growth % X% X% X% X% X%
Market Share X% X% X% X% X%
Gross Margin X% X% X% X% X%
Key Differentiator [X] [X] [X] [X] [X]
Competitive Analysis Narrative [2-3 paragraphs analyzing:
- Competitive strengths and weaknesses
- Market positioning
- Share gains/losses
- Competitive moats]
Total Addressable Market
TAM Calculation
Current TAM (2025): $XXbn
Projected TAM (2030): $XXbn
CAGR: XX%
Segmentation:
- [Segment A]: $XXbn
- [Segment B]: $XXbn
- [Segment C]: $XXbn
TAM Growth Chart [Visual showing TAM expansion over time by segment]
Company's Market Opportunity
Total TAM (2030): $XXbn
Serviceable TAM: $XXbn
Company's Realistic Share: XX%
Implied Revenue Potential: $XXbn
Industry Dynamics
Porter's Five Forces Analysis
- Threat of new entrants: [High/Medium/Low] - [Explanation]
- Bargaining power of suppliers: [High/Medium/Low] - [Explanation]
- Bargaining power of buyers: [High/Medium/Low] - [Explanation]
- Threat of substitutes: [High/Medium/Low] - [Explanation]
- Industry rivalry: [High/Medium/Low] - [Explanation]
Key Industry Trends
- [Trend 1]: [Description and impact]
- [Trend 2]: [Description and impact]
- [Trend 3]: [Description and impact]
PAGES 32-34: VALUATION ANALYSIS
Valuation Methodology Summary
Valuation Method Weight Implied Value Weighted Value
DCF Analysis 50% $XX - $YY $ZZ
Trading Comparables 30% $XX - $YY $ZZ
Precedent Transactions 20% $XX - $YY $ZZ
──── ───────────── ─────────
Weighted Average Price Target $AA - $BB $CC
DCF Analysis
Key Assumptions
Revenue Growth (2025-2029): XX% CAGR
Terminal Growth Rate: X.X%
WACC: X.X%
Terminal Year EBITDA Margin: XX%
Figure X - DCF Sensitivity Analysis ($/share)
CRITICAL FORMAT: DCF sensitivity must be shown as a 2-way heat map table with color coding.
Terminal Growth Rate
WACC 2.0% 2.5% 3.0% 3.5% 4.0%
8.0% $52 $55 $58 $62 $66
9.0% $48 $51 $54 $57 $61
10.0% $45 $47 $50 $53 $56
11.0% $42 $44 $47 $49 $52
12.0% $39 $41 $44 $46 $49
Color coding: Green (higher values) → Yellow (mid) → Red (lower values)
Source: [Firm Name] estimates.
Scenario Analysis
Scenario Enterprise Value Equity Value Price/Share
Bear Case $XXbn $XXbn $XX
Base Case $XXbn $XXbn $XX
Bull Case $XXbn $XXbn $XX
Trading Comparables
Figure X - Comparable Companies Analysis
CRITICAL FORMAT: Comp table must have two-part structure with statistical summary.
Part 1: Individual Company Data
Company Ticker Market EV/Rev EV/Rev EV/EBITDA EV/EBITDA Rev EBITDA
Cap($B) 2024E 2025E 2024E 2025E Growth Margin
Peer A PERA XX.X X.Xx X.Xx XX.X XX.X XX% XX%
Peer B PERB XX.X X.Xx X.Xx XX.X XX.X XX% XX%
Peer C PERC XX.X X.Xx X.Xx XX.X XX.X XX% XX%
Peer D PERD XX.X X.Xx X.Xx XX.X XX.X XX% XX%
[Company] COMP XX.X X.Xx X.Xx XX.X XX.X XX% XX%
Part 2: Statistical Summary
Max XX.X X.Xx X.Xx XX.X XX.X XX% XX%
75th Percentile XX.X X.Xx X.Xx XX.X XX.X XX% XX%
Median XX.X X.Xx X.Xx XX.X XX.X XX% XX%
25th Percentile XX.X X.Xx X.Xx XX.X XX.X XX% XX%
Min XX.X X.Xx X.Xx XX.X XX.X XX% XX%
Source: FactSet, company filings, [Firm Name] estimates.
Implied Valuation [Calculation showing application of peer multiples to company's metrics]
Precedent Transactions [If Applicable]
Figure X - Precedent Transaction Analysis
Date Target Acquirer Deal EV/Rev EV/EBITDA Premium
Value($B)
[MM/YYYY] [Company A] [Buyer A] X.X X.Xx XX.X XX%
[MM/YYYY] [Company B] [Buyer B] X.X X.Xx XX.X XX%
[MM/YYYY] [Company C] [Buyer C] X.X X.Xx XX.X XX%
────────────────────────────────────────────────────────────────────
Median X.Xx XX.X XX%
Source: Capital IQ, company filings, [Firm Name] estimates.
Control Premium Analysis [Discussion of typical premiums in the industry]
Valuation Summary
Figure X - Valuation Football Field
CRITICAL FORMAT: Football field must be a horizontal bar chart showing all valuation methods.
Valuation Method Low End ────── Range ────── High End
DCF Analysis $42 ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓ $58
Trading Comps (NTM) $45 ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓ $55
Precedent Trans. $48 ▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓ $60
↑
Current Price: $50
────────────────────────────────────────────────────────────────
Valuation Range: $42 $60
Color coding: Each method should have distinct color bar
Add vertical line showing current stock price
Source: [Firm Name] estimates.
Price Target & Recommendation
Current Price: $XX.XX ([Date])
Price Target: $YY.YY
Upside/Downside: ZZ%
Recommendation: BUY / HOLD / SELL
Time Horizon: 12 months
Catalysts:
• [Near-term catalyst with timeframe]
• [Medium-term catalyst with timeframe]
• [Long-term catalyst with timeframe]
PAGES 35+: APPENDICES & DISCLOSURES
Appendix A: Detailed Financial Model
[Reference to Excel model]
Appendix B: Management Bios
[Extended bios if not included in main text]
Appendix C: Product Detail
[Additional product information if needed]
Appendix D: Industry Data Sources
[List of sources used for industry analysis]
Required Disclosures
- Analyst certification
- Important disclosures
- Company-specific disclosures
- Legal entity disclosures
- Other regulatory disclosures
GRAPHICS & CHARTS TO INCLUDE
TARGET: 20-30+ charts throughout the report
CRITICAL PRINCIPLE: Charts should be embedded within text sections, NOT grouped on separate pages. Every page (except TOC) should have at least one chart or table.
Page 1 - Executive Summary (3 charts)
- Revenue/ARR growth trajectory (line chart, historical + projected)
- Key metrics dashboard (multi-panel chart)
- Market positioning or margin progression
Pages 3-5 - Investment Thesis & Risks (3 charts)
- TAM growth and opportunity (stacked area chart)
- Competitive positioning matrix (2×2 with bubbles)
- Margin expansion pathway (waterfall or line)
Pages 6-17 - Company 101 (6-8 charts)
- Business model diagram (flow chart)
- Company timeline (horizontal timeline)
- Funding history (bar chart with valuation line)
- Organization chart
- Product portfolio matrix
- Customer segmentation (pie or tree map)
- Geographic revenue breakdown
- Customer cohort retention
Pages 18-20 - Growth Outlook (4 charts)
- Revenue bridge showing drivers (waterfall)
- Market share evolution (line chart)
- Product roadmap (timeline)
- Geographic expansion (map with timeline)
Pages 21-24 - Financials (7 charts) ⭐ CRITICAL SECTION
- Revenue growth trajectory (line with annotations)
- Revenue by product/segment (stacked area) ⭐ MUST HAVE
- Revenue by geography (stacked bar) ⭐ MUST HAVE
- Gross margin evolution (line chart)
- Operating margin progression (waterfall or line)
- Free cash flow trajectory (bar + line combo)
- Key operating metrics dashboard (multi-panel)
- Scenario comparison (grouped bar: Bear/Base/Bull)
Pages 25-30 - Industry Overview (6 charts)
- Market size evolution (area chart with CAGR)
- Competitive landscape map (2×2)
- Market share pie chart
- Market share evolution over time (line chart)
- TAM segmentation
- Industry trend charts
Pages 31-34 - Valuation (5 charts)
- DCF sensitivity analysis (heat map)
- DCF waterfall (PV of cash flows → equity value)
- Trading comps scatter plot (growth vs. multiple)
- Peer valuation multiples (grouped bar)
- Valuation football field (range chart)
- Price target scenarios (bar with upside/downside)
Chart Style Guidelines:
- Consistent color scheme throughout (pick 3-5 brand colors)
- Professional fonts (Arial, Calibri, or similar)
- Clear labels and legends on every chart
- Source citations at bottom of each chart
- High information density - use chart space efficiently
- Mix of chart types for visual interest
- Annotations to highlight key insights
- Embedded in text - never standalone pages
- Sparklines in tables where appropriate
NOTES ON USING THIS TEMPLATE
-
PAGE 1 IS CRITICAL: The executive summary on page 1 must contain ALL key information - fast facts, financial snapshot, 3 charts, valuation summary, thesis, and risks. This is the most important page.
-
MAXIMUM DENSITY: Professional equity research is EXTREMELY information-dense. Every page should be packed with interspersed text, charts, and tables. Aim for 60-80% page coverage with minimal white space.
-
NO ORPHANED SECTIONS: Never have a section header alone, or a single chart/table on its own page. Always combine elements. Example: DON'T put "Financial Snapshot" on page 6 by itself - integrate it with surrounding content.
-
20-30+ CHARTS: Include extensive graphics throughout, with specific emphasis on:
- Revenue by product/segment (stacked area chart)
- Revenue by geography (stacked bar chart)
- Financial performance trends (multiple charts)
- Charts should be embedded within text, not grouped separately
-
Use DOC Skill: This outline should be converted to a professional Word document using the DOC skill, with proper formatting, styles, headers/footers, and page numbers
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Intersplice Content: Text paragraphs should have charts embedded inline. Each page should have 2-4 distinct elements (tables, charts, text blocks).
-
Consistent Formatting: Use consistent styles for headers, body text, tables, and charts throughout. Pick a color scheme and stick to it.
-
References: Include citations and sources for all data points
-
Proofread: Always proofread for accuracy, especially financial data and calculations
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Executive Summary Last: While it appears on page 1, write this section last after completing the full analysis
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Balance: Present both positive and negative aspects objectively
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Specific > Generic: Use specific data and examples rather than generic statements