This is a project about presenting the valuation and pricing of your company, with your recommendation on whether you would buy, sell or hold the company. It should be brief and it to have the following elements:

• A very short introduction that lays out what your company does and its history of operations.
• An intrinsic valuation of a company, with your story for the company closely tied to the inputs that you used to value your company, and your valuation (free cashflows to value per share). While there are multiple formats to present this valuation, the story worksheet in my fcffsimpleginzu spreadsheet does the job. It looks like this:

• Do not rehash what should be common knowledge. Thus, you do not have to describe how you computed a bottom-up beta or how you estimated your company's equity risk premium. I will trust you on those details.
• If you ask what if questions, do so only because answering them help you make a recommendation, and try to present your findings in a single table or a graph (rather than with multiple valuations

• Do a pricing of your company, relative to both its sector and to the overall market.

• When pricing against your peer group, explain how you picked a peer group (what criteria you used, how big a sample you got), why you picked the multiple that you did to price your company and how you arrived at the pricing (including a sector regression, if you have a large enough sample to run one). If you do run a regression, make sure that you provide the basis statistics to back it up (R-squared, t statistics etc.)
• When pricing against the market, you can use the market regressions that I have run. You can pick either the regional regression (US, Europe, Japan, Emerging Markets, Aus & NZ) or my global regression. You can find these regressions at the very bottom of my data page.

• If your company meets the criteria (money-loser with a high debt ratio), try an option pricing model to estimate the value of equity.
• Make a recommendation, and explain why you chose that recommendation.

Perhaps the best way to get a sense of format is to look at other project reports. You can take a look at projects from past classes. Whatever format you use for your projects (MS Word, Powerpoint etc.), convert it to a pdf file before submitting it. It makes it easier for me to open, grade and put comments into.