Investing comp-sheet

Build a multi-company industry comp sheet Excel model for the company specified by the user: $ARGUMENTS

This produces an interactive

.xlsx

Before starting, read

../data-access.md

../design-system.md

Follow these steps:

1. Company & Peer Setup

Look up the target company by ticker using

discover_companies

company_id

latest_calendar_quarter

../data-access.md

latest_fiscal_quarter

../data-access.md

Then identify 6-10 comparable companies using the same logic as

/comps

• Direct competitors in the same market
• Business model peers (similar revenue model)
• Size peers (similar market cap range)
• Growth profile peers (similar growth rate)

Look up all peer company_ids via Daloopa. If a peer isn't available in Daloopa, include it with market data only and note the limitation.

List the full peer group with brief justification for each.

2. Deep Data Gathering

For each company (target + all peers), pull from Daloopa:

Calculate 8 quarters backward from

latest_calendar_quarter

• Revenue, Gross Profit, Operating Income, Net Income, Diluted EPS
• Operating Cash Flow, Capital Expenditures, D&A
• Free Cash Flow (compute as OCF - CapEx)
• R&D Expense, SG&A (where available)

Segment revenue breakdown (all available segments, 8 quarters)

Company-specific operational KPIs — use the 9-sector taxonomy to know what to search for:

• SaaS/Cloud: ARR, net revenue retention, RPO/cRPO, customers >$100K, cloud gross margin
• Consumer Tech: DAU/MAU, ARPU, engagement metrics, installed base, paid subscribers
• E-commerce/Marketplace: GMV, take rate, active buyers/sellers, order frequency
• Retail: same-store sales, store count, average ticket, transactions
• Telecom/Media: subscribers, churn, ARPU, content spend
• Hardware: units shipped, ASP, attach rate, installed base
• Financial Services: AUM, NIM, loan growth, credit quality metrics, fee income ratio
• Pharma/Biotech: pipeline stage, patient starts, scripts, market share
• Industrials/Energy: backlog, book-to-bill, utilization, production volumes, reserves

Market data for each company (see ../data-access.md Section 2):

• Price, market cap, enterprise value, shares outstanding, beta
• All trading multiples: P/E (trailing + forward), EV/EBITDA, P/S, P/B, EV/FCF, dividend yield

3. KPI Discovery & Mapping

After pulling data, build the KPI mapping:

• Which KPIs are available for which companies? Build a coverage matrix.
• Group KPIs into categories:
  • Segment Revenue: product/service line breakdowns
  • Growth KPIs: subscriber growth, unit growth, same-store sales growth
  • Unit Economics: ARPU, ASP, take rate, retention
  • Efficiency: R&D % of revenue, SBC % of revenue, CapEx % of revenue
  • Engagement: DAU/MAU, retention, churn
• Flag KPIs that are comparable across peers vs company-specific

4. Compute Derived Metrics

For each company, calculate:

Margins:

• Gross Margin, Operating Margin, Net Margin, FCF Margin (each quarter)

Growth rates:

• Revenue YoY, EPS YoY, segment revenue YoY (each quarter where year-ago data exists)

Capital metrics:

• Net Debt (Total Debt - Cash)
• Net Debt/EBITDA
• FCF Yield (trailing 4Q FCF / Market Cap)
• Shareholder Yield (Buybacks + Dividends) / Market Cap

Implied valuation:

• For each valuation methodology (P/E, EV/EBITDA, P/S, EV/FCF):
  • Peer median multiple × target metric = implied value
  • Convert to implied share price
• Compute median implied price across methodologies

5. Build Context JSON

Structure the data as a multi-company context JSON for the comp_builder:

{
  "target_ticker": "AAPL",
  "as_of_date": "YYYY-MM-DD",
  "companies": [
    {
      "ticker": "AAPL",
      "name": "Apple Inc.",
      "is_target": true,
      "market_data": {
        "price": ..., "market_cap": ..., "enterprise_value": ...,
        "shares_outstanding": ..., "beta": ...,
        "trailing_pe": ..., "forward_pe": ...,
        "ev_ebitda": ..., "price_to_sales": ...,
        "ev_fcf": ..., "dividend_yield": ...
      },
      "periods": ["2024Q1", "2024Q2", ...],
      "financials": {
        "Revenue": {"2024Q1": ..., ...},
        "Gross Profit": {...}, ...
      },
      "margins": {
        "Gross Margin": {"2024Q1": ..., ...}, ...
      },
      "growth": {
        "Revenue Growth YoY": {"2024Q1": ..., ...}, ...
      },
      "kpis": {
        "iPhone Revenue": {"2024Q1": ..., ...}, ...
      },
      "kpi_categories": {
        "Segment Revenue": ["iPhone Revenue", "Services Revenue", ...],
        "Growth KPIs": ["Services Growth YoY"],
        "Efficiency": ["R&D % Revenue", "SBC % Revenue"]
      }
    },
    ...more companies...
  ],
  "implied_valuation": {
    "pe_implied": ...,
    "ev_ebitda_implied": ...,
    "ps_implied": ...,
    "ev_fcf_implied": ...,
    "median_implied": ...
  }
}

Save to

reports/.tmp/{TICKERS}_comp_context.json

6. Render Excel

Build the comp sheet workbook (see ../data-access.md Section 5 for infrastructure):

python3 infra/comp_builder.py --context reports/.tmp/{TICKERS}_comp_context.json --output reports/{TICKERS}_comp_sheet.xlsx

The builder creates 8 tabs:

1. Comp Summary — one-pager with all companies, multiples, implied valuation
2. Revenue Drivers — unit economics decomposition per company (trailing 4Q)
3. Operating KPIs — cross-company KPI comparison matrix
4. Financial Summary — side-by-side income statements (trailing 4Q)
5. Growth & Margins — trend analysis (up to 8Q)
6. Valuation Detail — implied prices by methodology, premium/discount
7. Balance Sheet & Capital — leverage and capital returns
8. Raw Data — full quarterly appendix for each company

7. Output

Tell the user where the

.xlsx

Highlight in your summary:

• Target positioning vs peers: Where does it rank on growth, margins, and valuation?
• Most differentiated KPIs: Which operational metrics set the target apart (positive or negative)?
• Implied valuation range: What does the peer group suggest the stock is worth?
• Key risk: What's the biggest vulnerability the comp sheet reveals (e.g., premium valuation with decelerating KPIs, margins below peers, etc.)?

All financial figures in the summary must use Daloopa citation format: $X.XX million