1.9 KiB
1.9 KiB
Fundamental Analysis Reference
Use this framework in both daily and full_report modes. Keep outputs concise unless full report is requested.
1. Business Quality
Assess:
- Moat quality:
- Brand, network effects, switching costs, cost advantage, IP/regulatory barriers.
- Management quality:
- Capital allocation discipline, communication quality, execution consistency.
- Business model durability:
- Revenue concentration, customer concentration, geographic risk, pricing power.
2. Financial Health
Focus areas:
- Profitability trend:
- Gross, operating, net margin direction.
- Growth quality:
- Revenue and earnings growth consistency, segment contribution quality.
- Balance sheet:
- Debt burden, liquidity, refinancing risk, cash buffer.
- Cash flow quality:
- OCF consistency, FCF conversion, capex intensity.
3. Valuation Lens
Use multiple perspectives:
- Relative multiples:
- P/E, PEG, P/B, P/S, EV/EBITDA, EV/Sales.
- Historical range context:
- Current valuation vs own history.
- Peer context:
- Premium/discount vs direct peers and rationale.
4. Risk Framework
Map risks by category:
- Company-specific:
- Product concentration, customer concentration, execution risk, governance issues.
- Market/macro:
- Rate sensitivity, FX exposure, commodity sensitivity, policy risk.
- Event risk:
- Earnings, regulatory approvals, legal actions, financing events.
5. Market-Specific Notes (US/CN/HK)
- Data depth may vary by market and language.
- Prefer exchange filings and official disclosure portals in each market.
- Align accounting period labels and fiscal calendars before comparison.
- Flag where metric comparability is limited.
6. Output Guidance
For daily mode, include:
- 2-3 key fundamental drivers
- 1-2 valuation signals
- top downside risks
For full report mode, include full multi-year trend tables and peer comparison.