Nov 30, 2025

Has anyone worked on a 3-hr public company case study?

I am having a 3-hr public company case study, expecting to receive some public filings to review and build model from scratch. I have done a public company case study over a weekend, but not really within such a short period of time. I am wondering what the company expects to see for a 3-hr case study.

3 Comments
 

For a 3-hour public company case study, based on the most helpful WSO content, here's how you can approach it effectively:

1. First 30-45 Minutes: Review and Take Notes

  • Focus on Key Documents: Prioritize reviewing the company's SEC filings (10-K, 10-Q), investor presentations, and any sell-side research provided.
  • Identify Key Drivers: Understand the company's revenue and cash flow drivers, key performance indicators (KPIs), and any notable segments or trends.
  • Highlight Critical Information: Look for management guidance, industry trends, and any red flags or opportunities.

2. Next 1.5 Hours: Build a Simple Model

  • Start with Revenue Drivers: Build a basic model starting from revenue/KPIs, moving to top-line, adjusted EBITDA, and free cash flow (if relevant).
  • Keep It Simple: Avoid overcomplicating the model. A P/E or EV/EBITDA-based valuation is often sufficient for such a short timeframe.
  • Incorporate Sensitivities: Add basic functionality to adjust key assumptions (e.g., revenue growth, margins) to show different scenarios.
  • Cross-Check: Compare your results with any guidance or consensus estimates provided.

3. Final 45 Minutes: Draft Your Recommendation

  • Investment Thesis: Clearly articulate whether you recommend investing in the company and why.
  • Valuation Summary: Provide a concise valuation summary, including your assumptions and key metrics.
  • Risks and Next Steps: Highlight potential risks and outline next steps for further due diligence.

Key Expectations:

  • Clarity and Simplicity: The company is likely looking for a clear, logical approach rather than a highly detailed model.
  • Assumption Justification: Be prepared to explain and defend your assumptions during follow-up discussions.
  • Time Management: Demonstrating your ability to prioritize and deliver under time constraints is critical.

If you've done weekend-long case studies, this will be a condensed version. Focus on the essentials, and don't get bogged down in unnecessary details. Good luck!

Sources: How would you approach a 4 hour case study?, Q&A: Corporate Banking to FAANG CD, PE Case Study 48h

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 
Most Helpful

it’s hard but possible, 5 slides + light model, company overview, competitive positioning, investment highlights (risks, mitigants), investment recommendation, model outputs + cap structure if needed

can try and get language around competitive positioning, moats, network effects, headwinds tailwinds why any consensus info you have could be off. People differ in philosophies but i think taking a convincted view even if directionally wrong is usually the best way to go. Try to pull in some ai value chain stuff if the company will be impacted, touch a bit on macro.

focus on revenue and cost drivers to inform a base case ebitda margin forecast and then i normally do moic, IRR sensitivities if take private / lbo. if public equity investment outlay fcf ,eps, ebitda, run multiples and dcf and then triangulate value. Blotnick on twitter has some decent model guidance that look alright. Some on youtube as well.

www(dot)interviewxchange(dot)com/lessons/company-xyz-financial-model

^
(this two hour case study recorded is pretty good)

do working capital only for balance sheet can do CFO less capex for FCF and slot that below the ebitda build

it’s very much mental in the short time frame

 

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