Comp Sheet Skill for Codex

Build a multi-company industry comp sheet Excel model for the company named in the user's request. If no ticker or company is provided, ask for one before proceeding.

This produces an interactive .xlsx workbook — the kind of comp sheet every analyst on a coverage team maintains. Multi-company, multi-tab, with deep operational KPIs alongside standard financials.

Before starting, read ../data-access.md for data access methods and ../design-system.md for formatting conventions. Follow the data access detection logic and design system throughout this skill.

Follow these steps:

1. Company & Peer Setup

Look up the target company by ticker using discover_companies. Capture company_id, latest_calendar_quarter (anchor for all period calculations — see ../data-access.md Section 1.5), and latest_fiscal_quarter. Note the firm name for report attribution (default: "Daloopa") — see ../data-access.md Section 4.5.

Then identify 6-10 comparable companies using the same logic as the comps skill:

• Direct competitors in the same market
• Business model peers (similar revenue model)
• Size peers (similar market cap range)
• Growth profile peers (similar growth rate)

Look up all peer company_ids via Daloopa. If a peer isn't available in Daloopa, include it with market data only and note the limitation.

List the full peer group with brief justification for each.

2. Deep Data Gathering

For each company (target + all peers), pull from Daloopa:

Calculate 8 quarters backward from latest_calendar_quarter. Pull financials:

• Revenue, Gross Profit, Operating Income, Net Income, Diluted EPS
• Operating Cash Flow, Capital Expenditures, D&A
• Free Cash Flow (compute as OCF - CapEx)
• R&D Expense, SG&A (where available)

Segment revenue breakdown (all available segments, 8 quarters)

Company-specific operational KPIs — use the 9-sector taxonomy to know what to search for:

• SaaS/Cloud: ARR, net revenue retention, RPO/cRPO, customers >$100K, cloud gross margin
• Consumer Tech: DAU/MAU, ARPU, engagement metrics, installed base, paid subscribers
• E-commerce/Marketplace: GMV, take rate, active buyers/sellers, order frequency
• Retail: same-store sales, store count, average ticket, transactions
• Telecom/Media: subscribers, churn, ARPU, content spend
• Hardware: units shipped, ASP, attach rate, installed base
• Financial Services: AUM, NIM, loan growth, credit quality metrics, fee income ratio
• Pharma/Biotech: pipeline stage, patient starts, scripts, market share
• Industrials/Energy: backlog, book-to-bill, utilization, production volumes, reserves

Stock prices & valuation multiples:

Use get_stock_prices (see ../data-access.md Section 1.7) to pull prices for ALL companies in a single batch call. Get:

• Current price: dates = 3 most recent calendar days for all company_ids
• Quarter-end prices: dates = quarter-end dates matching the financial periods (for historical multiples)

Then compute valuation metrics by combining stock prices with Daloopa fundamentals:

• Market Cap = Close price × Diluted shares outstanding
• Enterprise Value = Market Cap + Total Debt - Cash
• P/E (trailing) = Market Cap / Net Income (trailing 4Q)
• EV/EBITDA = EV / EBITDA (trailing 4Q)
• P/S = Market Cap / Revenue (trailing 4Q)
• P/B = Market Cap / Total Equity
• EV/FCF = EV / Free Cash Flow (trailing 4Q)
• FCF Yield = FCF (trailing 4Q) / Market Cap
• Dividend Yield = Dividends Paid (trailing 4Q) / Market Cap

For beta, use web search (see ../data-access.md Section 2). For forward multiples, use consensus estimates if available (Section 3).

3. KPI Discovery & Mapping

After pulling data, build the KPI mapping:

• Which KPIs are available for which companies? Build a coverage matrix.
• Group KPIs into categories:
• Segment Revenue: product/service line breakdowns
• Growth KPIs: subscriber growth, unit growth, same-store sales growth
• Unit Economics: ARPU, ASP, take rate, retention
• Efficiency: R&D % of revenue, SBC % of revenue, CapEx % of revenue
• Engagement: DAU/MAU, retention, churn
• Flag KPIs that are comparable across peers vs company-specific

4. Compute Derived Metrics

For each company, calculate:

Margins:

• Gross Margin, Operating Margin, Net Margin, FCF Margin (each quarter)

Growth rates:

• Revenue YoY, EPS YoY, segment revenue YoY (each quarter where year-ago data exists)

Capital metrics:

• Net Debt (Total Debt - Cash)
• Net Debt/EBITDA
• Shareholder Yield (Buybacks + Dividends) / Market Cap

Historical multiples (from quarter-end prices pulled in Section 2):

• Compute P/E, EV/EBITDA, P/S, EV/FCF at each quarter-end to show how multiples have trended
• This lets the reader see whether the current multiple is elevated or depressed vs. the company's own history

Implied valuation:

• For each valuation methodology (P/E, EV/EBITDA, P/S, EV/FCF):
• Peer median multiple × target metric = implied value
• Convert to implied share price
• Compute median implied price across methodologies

5. Build Excel Workbook

Generate the Excel workbook directly as a local .xlsx file. For Codex, prefer bundled spreadsheet tooling or Python/openpyxl when available.

The workbook must contain 8 tabs with the following structure:

Tab 1: Comp Summary

One-page overview with all companies side-by-side:

• Company name, ticker, price, market cap
• All valuation multiples (P/E, EV/EBITDA, P/S, P/B, EV/FCF, div yield)
• Latest quarter revenue, EBITDA, net income
• Growth rates (revenue YoY, EPS YoY)
• Key margins (gross, operating, net, FCF)
• Implied valuation for target (median across methodologies)
• Premium/discount vs peers

Tab 2: Revenue Drivers

Unit economics decomposition per company (trailing 4 quarters):

• Total revenue (4Q sum)
• Segment revenue breakdown (% of total)
• Key unit economics: units × ASP, or subscribers × ARPU, etc.
• Growth trajectory by segment

Tab 3: Operating KPIs

Cross-company KPI comparison matrix:

• Rows = KPIs (grouped by category from step 3)
• Columns = companies
• Show latest quarter value + YoY change where applicable
• Highlight cells where data is unavailable (sparse matrix)

Tab 4: Financial Summary

Side-by-side income statements (trailing 4 quarters):

• Revenue, COGS, Gross Profit
• R&D, SG&A, Operating Income
• Interest, Tax, Net Income
• Diluted EPS
• Compute 4Q sums for each line item

Tab 5: Growth & Margins

Trend analysis (up to 8 quarters):

• Revenue growth YoY (%)
• EPS growth YoY (%)
• Gross margin (%)
• Operating margin (%)
• Net margin (%)
• FCF margin (%)
• Show trends across all periods for each company

Tab 6: Valuation Detail

Implied prices by methodology:

• P/E implied (peer median P/E × target EPS)
• EV/EBITDA implied
• P/S implied
• EV/FCF implied
• Median implied price
• Current price
• Premium/discount (%)

Tab 7: Balance Sheet & Capital

Leverage and capital returns:

• Total Debt, Cash, Net Debt
• Net Debt/EBITDA
• Trailing 4Q: OCF, CapEx, FCF
• FCF Yield
• Shareholder Yield (buybacks + dividends)

Tab 8: Raw Data

Full quarterly appendix for each company:

• All 8 quarters of financial data
• All KPIs by quarter
• All growth rates and margins by quarter
• Complete data backing the summary tabs

Styling requirements:

• Apply the design system color palette (Navy #1B2A4A headers, Steel Blue #4A6FA5 accents)
• Number formatting per ../design-system.md conventions
• Bold headers, freeze panes on all tabs
• Conditional formatting: green for positive growth, red for negative
• Auto-adjust column widths

The workbook generation should:

• Use the best available spreadsheet-generation library
• Construct all 8 worksheets programmatically
• Apply styling (bold headers, number formats, colors)
• Generate the .xlsx file
• Save the workbook as reports/{TARGET_TICKER}_comp_sheet_{DATE}.xlsx

6. Output Summary

After generating the Excel workbook, provide a concise summary highlighting:

Target positioning vs peers:

• Where does it rank on growth, margins, and valuation?
• Quartile positioning across key metrics

Most differentiated KPIs:

• Which operational metrics set the target apart (positive or negative)?
• Notable outliers in the KPI matrix

Implied valuation range:

• What does the peer group suggest the stock is worth?
• Premium/discount vs current price
• Which methodology drives the highest/lowest implied value?

Key risk:

• What's the biggest vulnerability the comp sheet reveals (e.g., premium valuation with decelerating KPIs, margins below peers, concentration risk)?

All financial figures in the summary must use Daloopa citation format: $X.XX million