Business Analysis

Lesson 1

Business Model and How a Company Makes Money

Understand how a company creates value to assess its sustainability.

Lesson 2

Industry Structure and Competition Level

Analyze industry structure to identify long-term margin potential.

Lesson 3

Moat and Sustainable Competitive Advantage

Identify competitive advantages to estimate a company's ability to protect profits.

Lesson 4

ROIC and Growth Quality

Assess ROIC to measure capital reinvestment efficiency.

Lesson 5

Unit Economics and Per-Unit Business Efficiency

Analyze unit economics to validate the growth model.

Lesson 6

Total Addressable Market (TAM) and Growth Runway

Estimate TAM to assess long-term expansion potential.

Lesson 7

Capital Allocation and Profit Reinvestment

Assess capital allocation to identify leadership capability.

Lesson 8

Capital Structure and Financial Leverage

Analyze capital structure to control financial risk.

Lesson 9

Ability to Convert Profit Into Cash Flow

Assess business quality through the ability to convert accounting profit into real cash flow.

Lesson 10

Management, Governance, and Alignment of Interests

Assess governance to protect shareholder interests.

Lesson 11

Red Flags in Business Analysis

Identify warning signals to avoid hidden risks.