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L3VLUP Finance OS

Analyse a company from its own filings.

Pick a tool, enter a ticker, read the result. Every figure shows where it came from and the checks it passed, and anything a filing does not give is marked missing rather than estimated.

New to the methods? The skills library teaches each one step by step.

Up to 5 runs every 10 minutes. Results are not kept without an account. Sign in to keep them.

  • Company profile

    Ready

    See five years of a company’s results, its segments and its balance sheet, straight from its filings.

    Profile · Segments · Filings

    What you’ll get
    • Five years of revenue, EBITDA, margins, EPS and free cash flow
    • Revenue by segment, product and geography
    • Balance sheet, company facts and recent 8-Ks

    Also: How it is done

  • DCF valuation

    Ready

    Estimate what a company is worth from its future cash flows. Compare cases, and see what today’s share price implies.

    Forecast · Valuation · Excel

    What you’ll get
    • A forecast to free cash flow in bear, base and bull cases over 5, 7, 10 or 15 years, with the last reported years beside it
    • A discount rate built from the Treasury rate, beta, the equity risk premium, the cost of debt and the capital structure
    • Terminal value by perpetuity growth with an exit-multiple cross-check, the bridge to equity value, value per share and the upside to a price you give
    • Stock-based compensation as an economic expense or as a cash-flow adjustment with the awards to come charged to equity, each valued beside the other
    • Given a share price, the reverse DCF: the growth, margin and multiple the price implies, and a grid of the combinations within 5% of it
    • Sensitivity tables, a valuation range, every assumption labelled with where it came from, and an Excel model that recomputes it
    • Or the same valuation on a saved operating model of the company, in its base, upside and downside cases

    Also: Excel model · Practise it · How it is done

  • Trading comps

    Ready

    Compare a company with its peers on growth, margins and multiples, and see the value they imply.

    Peers · Multiples · Valuation

    What you’ll get
    • Growth, EBITDA, EBIT, margins and net debt per company
    • EV/Revenue, EV/EBITDA and EV/EBIT, with peer statistics
    • Implied value range, to equity value and per share

    Also: Excel model · Practise it · How it is done

  • Precedent transactions

    Ready

    Find out what buyers paid for similar companies, and the value those deals imply.

    M&A · Multiples · Valuation

    What you’ll get
    • Deals in the same SEC industry, from their filings
    • EV/EBITDA, EV/Revenue and premium quartiles
    • Implied value on two methods

    Also: How it is done

  • Transaction analysis

    Ready

    Read an announced deal from its filing: what was paid, the multiples, and what it does to the buyer’s earnings.

    M&A · Accretion · Excel

    What you’ll get
    • The terms as the filing states them: offer, consideration, unaffected price and premiums, with equity value and enterprise value tied to the filing
    • Multiples on three bases: the last twelve months, the latest filed year and the forecasts the proxy discloses
    • With the acquirer entered, accretion or dilution, breakeven synergies, ownership, contribution and sensitivities, every funding and synergy assumption labelled as yours
    • An Excel model that recomputes it

    Also: Excel model · Practise it · How it is done

  • Three-statement model

    Ready

    Build a linked income statement, balance sheet and cash flow forecast that balances in every year.

    Forecast · Statements · Excel

    What you’ll get
    • Up to five filed years reconstructed: EBITDA, operating costs, working capital, the residual balance sheet lines, net debt and free cash flow
    • A linked forecast on your drivers with working capital, PP&E, debt, revolver and equity schedules, in base, upside and downside cases
    • Integrity checks in every year and case: the balance sheet balances, cash ties, and every schedule rolls forward
    • An Excel model with live formulas

    Also: Excel model · Practise it

  • Software operating model

    Ready

    Model a software company by function, from a ticker alone, with a three-case forecast and the metrics investors read.

    Software · Forecast · Excel

    What you’ll get
    • Up to five filed years by function, with stock-based compensation, deferred revenue, the remaining performance obligation and cash and investments
    • The metrics the filings support: gross margin, operating leverage, billings, RPO coverage, free cash flow margin, the rule of 40 and sales efficiency, and revenue by product and service as the 10-K tags it
    • A forecast by function in base, upside and downside cases with cash and investments rolled forward, every driver labelled
    • An Excel model that recomputes it, and a model the DCF can value

    Also: Excel model · Practise it

  • Biopharma operating model

    Ready

    Model a biotech or pharma company from a ticker alone: revenue, R&D, cash burn, runway and the breakeven year.

    Biopharma · Runway · Excel

    What you’ll get
    • Up to five filed years: revenue by product and collaboration as the 10-K tags it, cost of revenue, R&D, SG&A, stock-based compensation, cash and investments, the share count
    • The metrics the filings support: gross margin, R&D growth and intensity, the stock-based share of spend, net burn, runway and dilution
    • A forecast of revenue and spend in base, upside and downside cases, cash and investments rolled forward, the breakeven year and the funding need named
    • An Excel model that recomputes it, and a model the DCF can value

    Also: Excel model · Practise it

  • LBO and ability to pay

    Ready

    Test a buyout: the debt it can carry, the returns it would make and the most a sponsor could pay.

    Buyout · Returns · Excel

    What you’ll get
    • Sources and uses, the operating case and a debt schedule by tranche with amortisation and a cash sweep
    • Exit value, MOIC and IRR, where the return comes from, and sensitivities by exit year, exit multiple and exit EBITDA
    • The maximum entry price and multiple for a target IRR, and across target returns and exit multiples

    Also: Excel model · Practise it · How it is done

  • Trading range

    Ready

    See where the share price sits in its 52-week range, and what an offer or a price target implies against it.

    Share price · Premium

    What you’ll get
    • The position in the 52-week range and the premium or discount to the high, the low and the 30, 60 and 90-day averages
    • Each reference price’s implied premium to every benchmark, and a ladder of prices at a 10 to 50% premium
    • Equity value and enterprise value at each price, on shares and net debt from the 10-K

    Also: How it is done

  • Premiums paid

    Ready

    See what buyers paid over the undisturbed share price in comparable deals, and the price that implies here.

    M&A · Premiums

    What you’ll get
    • Deals whose filing states a one-day premium, screened by industry, window, deal type, consideration, buyer and size
    • Quartiles of the premiums, with the median and mean by consideration, buyer, deal type and year
    • The price, equity value and enterprise value each statistic implies, and where an offer price sits among the deals

    Also: How it is done

  • Analyst price targets

    Ready

    Gather the published price targets for a company and see the range and the upside they imply.

    Targets · Upside

    What you’ll get
    • Every target with its analyst or broker, date, rating and source, and whether it is in the set
    • The mean, median, high and low of the targets in the set, one per analyst, within a recency window
    • The upside or downside to each target and statistic, where a reference price is entered

    Also: How it is done

  • Management projections

    Ready

    Read the forecasts a company disclosed in its merger proxy, every version kept apart.

    Forecasts · Proxy

    What you’ll get
    • Each projection set as the proxy names it: its periods, units, date and who it was given to
    • Growth, compound growth, margins, the change in margin and cumulative free cash flow, each traced to the disclosed figures
    • How the versions of the forecast differ, line by line, and what the proxy does not disclose

    Also: How it is done

  • Sum of the parts

    Ready

    Value each part of a business on its own multiple, then add them up to a value per share.

    Segments · Multiples

    What you’ll get
    • Each segment, geography or product line valued on EV / Revenue, EV / EBITDA or EV / EBIT, with its contribution to the total
    • Corporate costs and other adjustments, and the bridge from enterprise value to equity value and value per share
    • A low, base and high range and a sensitivity of the two largest parts, every multiple labelled as yours

    Also: How it is done

  • Filing diff

    Ready

    See what changed between a filing and the one before it, section by section.

    10-K · 10-Q · Changes

    What you’ll get
    • Each section typed: added, removed or rewritten wording, figures only, or drafting only
    • The main changes, why each kind matters, and the sections to read first
    • Red-flag terms and sections found in one filing only, marked for review

    Also: How it is done

  • Earnings review

    Ready

    See what changed this quarter against last quarter and the same quarter a year ago.

    Quarterly · Margins · Trend

    What you’ll get
    • Revenue, gross profit, operating income, net income, diluted EPS and cash, against the prior quarter and a year ago
    • What improved, what deteriorated and what else changed, with margins in basis points
    • Growth acceleration, operating leverage and an eight-quarter trend

    Also: How it is done

  • Buyer and target screen

    Coming soon

    Find who could buy this company, or whom it could buy, and why.

    M&A · Screen

    What you’ll get
    • Ranked candidates
    • Fit rationale per candidate
    Not available yet

  • KPI history

    Coming soon

    Track the operating metrics a company reports, period by period, with their sources.

    KPIs · History

    What you’ll get
    • KPI series
    • Definition changes flagged
    Not available yet

  • Guidance history

    Coming soon

    Compare what management guided to with what was then delivered.

    Guidance · Actuals

    What you’ll get
    • Guidance against actuals
    • Revisions over time
    Not available yet

  • Watchlist monitor

    Coming soon

    Get a note when a company on your list files something that changes the picture.

    Alerts · Filings

    What you’ll get
    • Filing alerts
    • What changed, summarised
    Not available yet

Biopharma operating model

A pharmaceutical or biotechnology company modelled from its filings: product and collaboration revenue, R&D and SG&A, the cash that funds them, the burn and the runway, with a three-case forecast that names the breakeven year and any funding need.

Before you run it

Reads the company’s own R&D and SG&A lines. Every driver you leave blank is a labelled default from its filed growth and spend, or the Treasury curve, marked for review; your entry replaces it. A company with no revenue history is asked for its growth. The pipeline (phases, probabilities, launch dates, peak sales) is not tagged in XBRL and is shown as not covered, never inferred. A company that tags no revenue line has no model here.

Drivers, all optional

A biopharma company on what its filings carry: revenue growth, and R&D and SG&A spend at growth rates, because a company with little or new revenue has no cost ratio to hold. A ticker alone is enough: every driver you leave blank is a labelled default from the company’s own filed growth and spend (the median, with the filed range for the cases), the effective tax rate, or the 3-month Treasury yield for cash, marked for review on the result. Anything you enter replaces the default and is labelled as yours. A company with no revenue history is asked for its growth; the pipeline is never estimated.

Revenue

Per cent on the last reported year, product and collaboration revenue together. The last reported growth is shown on the result.

Growth moves in a straight line from the first year to this one. Leave blank to hold it flat.

Leave blank to hold the last reported gross margin. Only used where the filer reports a cost of revenue.

Spend

Per cent change on the last reported year’s research and development.

Leave blank to hold it flat.

Per cent change on the last reported year’s selling, general and administrative (or sales and marketing plus general and administrative).

Leave blank to hold it flat.

A memo line inside the spend above, added back to operating cash flow. Leave blank to hold the last reported share.

Cash and tax

On positive pre-tax income only; a loss earns no credit and no loss carried forward is modelled.

On the opening balance of cash and investments. Leave blank and they earn nothing.

Upside and downside cases, optional

Percentage points added to revenue growth every year.

Points taken off R&D spend growth every year.

Percentage points taken from revenue growth every year.

Points added to R&D spend growth every year.

Filed figures come from SEC EDGAR. Prices and documents you supply are labelled as yours wherever they are used. Practise the method first in the skills library.