Drawing on material covered during this term, prepare an investment analysis in PowerPoint format for your assigned company (see below). Begin your presentation with a Buy, Hold, or Sell recommendation followed by additional slides covering the 6 steps as follows:

1. Identify economic characteristics and competitive dynamics of your companys industry In particular, where your company stands relative to the industry with respect to size (assets/sales), number of employees, market share, products, global reach, etc. Use your companys website, 10-k, MD&A, and various financial websites (e.g., Yahoo, Bloomberg). Is this a growth or mature industry, commodity, or intellectual property intensive industry? Identify at least 2 industry competitors. Use graphs or charts where appropriate.

2. Identify company strategies What is the value proposition for your companys shareholders, e.g., product diversification, expansion (organic or through acquisition), high customer satisfaction, etc. Present how your company has done over the last 2 years with respect to these success factors (i.e., number of new stores opened). Include a slide on the Porters Five Forces.

3. Assess the quality of the financial statements Review the latest financial statements for any accounting quality issues (i.e., discontinued operations, unusual items, peripheral gains/losses, impairments, restructuring charges). Focus on sustainable income. Review the Notes section of the financial statements for litigation, subsequent events, or other issues that might affect the future performance of your company. Use this information to adjust your financial statements for future forecasting.

4. Analyze profitability and risk using financial statement information Include a chart that compares for 2 years significant financial ratios, including time-series and percent change analysis. Display 10 ratios covered during the semester, including ROA, ROCE, both disaggregated, and z-score. Comment on any significant changes. Ratios should be supported by detailed calculations on a separate excel worksheet. Include similar ratios for one key competitor for the latest fiscal year,

5. Prepare forecasted financial statements Prepare a comprehensive income statement for the next two fiscal years (2021 and 2022). Reference line items (i.e., Revenue) to a detailed back-up slide that shows assumptions used and calculations. You need to use the material provided in steps 1-4 to prepare a proper forecast using the 7 - step process covered in Chapter 10. Do not just increase line items by a growth percentage. Use the bottoms approach or store square footage methods covered in class.

6. Value the Company Using two of the three models studied to value a company (earnings, free cash flow, or dividends model) derive a valuation for your company using your forecasted financial statements. Document your findings on a back-up slide detailing your assumptions and calculations.

Compare your valuation with the current reported market cap of your company to determine if it is properly, over or under valued. Final slide(s): Recommendations to company management Please provide at least two well thought out recommendations that the company can implement to improve either operational or financial performance. Recommendations can include acquisitions, divestitures, new markets, and financial re-engineering (e.g., stock repurchases, debt restructuring, increasing dividends). Designated Company: Company Students Last Name General Mills A-D Kohls E-H Lowes I-M Molson Coors N-S Zoetis T-Z Additional information: Each slide must be clear and easy to understand. Slides should include, where possible, charts, graphs and pictures as opposed to an excess of verbiage. Slides must address the assigned topic (e.g., step 1). It is anticipated that you will need multiple slides for each step. Total slides should be in the 18-25 range. Data must be accurate and consistent from slide to slide. Data must support your recommendation. Include separately excel spreadsheets with your calculation for ratios and company valuations. Due Dates The presentation is due in two installments as follows: Steps 1 through 4 11/3/21 Entire presentation 12/1/21 Grade: The financial analysis project is worth 20 points towards your final grade Presentations should be forwarded to me through Blackboard. Submissions received after the due dates will lose points for lateness. I will give you feedback on your first submission (steps 1-4) which must be incorporated into your final presentation.