Do people still do 3 statement models? I’ve worked on 3 multi billion sellsides at (GS/MS/JPM) and have not done one. We just send out the model which is just the income statement, drivers, KPIs, etc. and audited BS + CFS.
Are they necessary? Is it a lost art?
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I’ve used them more when working buyside.
Completed 2 transactions this year and they were required for both.
I work on a FIG desk so by nature of balance-sheet heavy business models we always provide forecasted BS / CF statements with our operating models, but I can confidently say that we are an outlier, at least at my bank.
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