As the title says, curious to know what particular parts of modelling HFs wish to to get granular on compared to what is done within ER, if there are any differences ?
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More detailed revenue builds, thinking more critically about how revenue drops into ebitda and not just growing margins blindly. Granular cost builds too.
How does one approach a granular cost build?
Estimate variable vs fixed splits, build infrastructure tools to plug main costs (figure out main cost exposures), you can usually figure out market prices for a lot of costs, including freight etc
Interesting thank you - depending on HF style and time constraints of course, but is it a case of fine tuning those line items as you mentioned (understanding the drivers) and effectively casting off the rest of the statements (i.e. pegging 'less important' line items to a simple rate) or would you still do a super detailed 3 statement model ?
You should be able to build a full 3 statement with extra, integrated tabs: divisional revenue builds, YoY Ebit/GM bridges, unit economics etc whatever the name requires. Sometimes you get deep on the balance sheet and will forecast debt schedules and depreciation schedules, a lot of the time you might not care and just straight line
depends on the name, there’s absolutely not set way of doing it. Unlike in IB or ER, you’re not presenting a model, you’re just using it to make money.
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