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What’s in an Equity Research Report?

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Even though you can easily find real equity research reports via the magical tool known as “Google,” we’ve continued to get questions on this topic.

Whenever I see the same question over and over again, you know what I do: I bash my head in repeatedly and contemplate jumping off a building…

…and then I write an article to answer the question.

To understand an equity research report, you must understand what goes into a  stock pitch first.

The idea is similar, but an ER report is a “watered-down” version of a stock pitch.

But banks have some very solid reasons for publishing equity research reports:

Why Do Equity Research Reports Matter?

You might remember from previous articles that equity research teams do not spend that much time writing these reports .

Most of their time is spent speaking with management teams and institutional investors and sharing their views on sectors and companies.

However, equity research reports are still important because:

• You do still spend some time doing the required modeling work (~15%) and writing the reports (~20%).
• You might have to write a research report as part of the interview process.

For example, if you apply to an equity research role or an equity research internship , especially in an off-cycle process, you might be asked to draft a short report on a company.

And then in roles outside of ER, you need to know how to interpret reports quickly and extract the key information.

Equity Research Reports: Myth vs. Reality

If you want to understand equity research reports, you have to understand first why banks publish them: to earn higher commissions from trading activity.

A bank wants to encourage institutional investors to buy more shares of the companies it covers.

Doing so generates more trading volume and higher commissions for the bank.

This is why you rarely, if ever, see “Sell” ratings, and why “Hold” ratings are far less common than “Buy” ratings.

Different Types of Equity Research Reports

One last point before getting into the tutorial: There are many different types of research reports.

“Initiating Coverage” reports tend to be long – 50-100 pages or more – and have tons of industry research and data.

“Sector Reports” on entire industries are also very long. And there are other types, which you can read about here .

In this tutorial, we’re focusing on the “Company Update” or “Company Note”-type reports, which are the most common ones.

The Full Tutorial, Video, and Sample Equity Research Reports

For our full walk-through of equity research reports, please see the video below:

Table of Contents:

• 1:43: Part 1: Stock Pitches vs. Equity Research Reports
• 6:00: Part 2: The 4 Main Differences in Research Reports
• 12:46: Part 3: Sample Reports and the Typical Sections
• 20:53: Recap and Summary

You can get the reports and documents referenced in the video here:

• Equity Research Report – Jazz Pharmaceuticals [JAZZ] – OUTPERFORM [BUY] Recommendation [PDF]
• Equity Research Report – Shawbrook [SHAW] – NEUTRAL [HOLD] Recommendation [PDF]
• Equity Research Reports vs. Stock Pitches – Slides [PDF]

If you want the text version instead, keep reading:

Watered-Down Stock Pitches

You should think of equity research reports as “watered-down stock pitches.”

If you’ve forgotten, a hedge fund or asset management stock pitch ( sample stock pitch here ) has the following components:

• Part 1: Recommendation
• Part 2: Company Background
• Part 3: Investment Thesis
• Part 4: Catalysts
• Part 5: Valuation
• Part 6: Investment Risks and How to Mitigate Them
• Part 7: The Worst-Case Scenario and How to Avoid It

In a stock pitch, you’ll spend most of your time and energy on the Catalysts, Valuation, and Investment Risks because you want to express a VERY different view of the company .

For example, the company’s stock price is $100, but you believe it’s worth only $50 because it’s about to report earnings 80% lower than expectations.

Therefore, you recommend shorting the stock. You also recommend purchasing call options at an exercise price of $125 to limit your losses to 25% if the stock moves in the opposite direction.

In an equity research report, you’ll still express a view of the company that’s different from the consensus, but your view won’t be dramatically different.

You’ll spend more time on the Company Background and Valuation sections, and far less time and space on the Catalysts and Risk Factors. And you won’t even write a Worst-Case Scenario section.

If a company seems overvalued by 50%, a research analyst would probably write a “Hold” recommendation, say that there’s “uncertainty around several customers,” and claim that the company’s current market value is appropriate.

Oh, and by the way, one risk factor is that the company might report lower-than-expected earnings.

The Four Main Differences in Equity Research Reports

The main differences are as follows:

1) There’s More Emphasis on Recent Results and Announcements

For example, how does a recent product announcement, clinical trial result, or earnings report impact the company?

You’ll almost always see recent news and updates on the first page of a research report:

These factors may play a role in hedge fund stock pitches as well, but more so in short recommendations since timing is more important there.

2) Far-Outside-the-Mainstream Views Are Less Common

One comical example of this trend is how all 15 equity research analysts covering Enron rated it a “buy” right before it collapsed :

Sell-side analysts are far less likely to point out that the emperor has no clothes than buy-side analysts.

3) Research Reports Give “Target Prices” Rather Than Target Price Ranges

For example, the company is trading at $50.00 right now, but we expect its price to increase to exactly $75.00 in the next twelve months.

This idea is completely ridiculous because valuation is always about the range of possible outcomes, not a specific outcome.

Despite horrendously low accuracy , this practice continues.

To be fair, many analysts do give target prices in different cases, which is an improvement:

4) The Investment Thesis, Catalysts, and Risk Factors Are “Looser”

These sections tend to be “afterthoughts” in most reports.

For example, the bank might give a few reasons why it expects the company’s share price to rise: the company will capture more market share than expected, it will be able to increase its product prices more rapidly than expected, and a competitor is about to go bankrupt.

However, the sell-side analyst will not tie these factors to specific share-price impacts as a buy-side analyst would.

Similarly, the report might mention catalysts and investment risks, but there won’t be a link to a specific valuation impact from each factor.

So the typical stock pitch logic (“We think there’s a 50% chance of gaining 80% and a 50% chance of losing 20%”) won’t be spelled out explicitly:

Your Sample Equity Research Reports

To illustrate these concepts, I’m sharing two equity research reports from our financial modeling courses :

The first one is from the valuation case study in our Advanced Financial Modeling course , and the second one is from the main case study in our Bank Modeling course .

These are comprehensive examples, backed by industry data and outside research, but if you want a shorter/simpler example you can recreate in a few hours, the Core Financial Modeling course has just that.

In each case, we started by creating traditional HF/AM stock pitches and valuations and then made our views weaker in the research reports.

The Typical Sections of an Equity Research Report

So let’s briefly go through the main sections of these reports, using the two examples above:

Page 1: Update, Rating, Price Target, and Recent Results

The first page of an “Update” report states the bank’s recommendation (Buy, Hold, or Sell, sometimes with slightly different terminology), and gives recent updates on the company.

For example, in both these reports we reference recent earnings results from the companies and expectations for the next fiscal year:

We also give a “target price,” explain where it comes from, and give our estimates for the company’s key financial metrics.

We mention catalysts in both reports, but we don’t link anything to a specific valuation impact.

One problem with providing a specific “target price” is that it must be based on specific multiples and specific assumptions in a DCF or DDM.

So with Jazz, we explain that the $170.00 target is based on 20.7x and 15.3x EV/EBITDA multiples for the comps, and a discount rate of 8.07% and Terminal FCF growth rate of 0.3% in the DCF.

Next: Operations and Financial Summary

Next, you’ll see a section with lots of graphs and charts detailing the company’s financial performance, market share, and important metrics and ratios.

For a pharmaceutical company like Jazz, you might see revenue by product, pricing and # of patients per product per year, and EBITDA margins.

For a commercial bank like Shawbrook, you might see loan growth, interest rates, interest income and net income, and regulatory capital figures such as the Common Equity Tier 1 (CET 1) and Tangible Common Equity (TCE) ratios:

This section of the report explains how the analyst or equity research associate forecast the company’s performance and came up with the numbers used in the valuation.

The valuation section is the one that’s most similar in a research report and a stock pitch.

In both fields, you explain how you arrived at the company’s implied value, which usually involves pasting in a DCF or DDM analysis and comparable companies and transactions.

The methodologies are the same, but the assumptions might differ substantially.

In research, you’re also more likely to point to specific multiples, such as the 75 th percentile EV/EBITDA multiple, and explain why they are the most meaningful ones.

For example, you might argue that since the company’s growth rates and margins exceed the medians of the set, it deserves to be valued at the 75 th percentile multiples rather than the median multiples:

Investment Thesis, Catalysts, and Risks

This section is short, and it is more of an afterthought than anything else.

We do give reasons for why these companies might be mis-priced, but the reasoning isn’t that detailed.

For example, in the Shawbrook report we state that the U.K. mortgage market might slow down and that regulatory changes might reduce the market size and the company’s market share:

Those are legitimate catalysts, but the report doesn’t explain their share-price impact in the same way that a stock pitch would.

Finally, banks present Investment Risks mostly so they can say, “Well, we warned you there were risks and that our recommendation might be wrong.”

By contrast, buy-side analysts present Investment Risks so they can say, “There is a legitimate chance we could lose 50% – let’s hedge against that risk with options or other investments so that our fund does not collapse .”

How These Reports Both Differ from the Corresponding Stock Pitches

The Jazz equity research report corresponds to a “Long” pitch that’s much stronger:

• We estimate its intrinsic value as $180 – $220 / share , up from $170 in the report.
• We estimate the per-share impact of each catalyst: price increases add 15% to the share price, more patients from marketing efforts add 10%, and later-than-expected generics competition adds 15%.
• We also estimate the per-share impact from the risk factors and conclude that in the worst case , the company’s share price might decline from $130 to $75-$80. But in all likelihood, even if we’re wrong, the company is simply valued appropriately at $130.
• And then we explain how to hedge against these risks with put options.

The same differences apply to the Shawbrook research report vs. the stock pitch, but the stock pitch there is a “Short” recommendation where we claim that the company is overvalued by 30-50%.

And that sums up the differences perfectly: A Short recommendation with 30-50% downside in a stock pitch turns into a “Hold” recommendation with roughly equal upside and downside in a sell-side research report.

I’ve been harsh on equity research here, but I don’t want to disparage it too much.

There are many positives: You do get more creativity than in IB, it might be better for hedge fund or asset management exits, and it’s more fun to follow companies than to grind through grunt work on deals.

But no matter how you slice it, most equity research reports are watered-down stock pitches.

So, make sure you understand the “strong stuff” first before you downgrade – even if your long-term goal is equity research.

You might be interested in:

• The Equity Research Analyst Career Path: The Best Escape from a Ph.D. Program, or a Pathway into the Abyss?
• Private Equity Regulation : 2023 Changes and Impact on Finance Careers
• Stock Pitch Guide: How to Pitch a Stock in Interviews and Win Offers

About the Author

Brian DeChesare is the Founder of Mergers & Inquisitions and Breaking Into Wall Street . In his spare time, he enjoys lifting weights, running, traveling, obsessively watching TV shows, and defeating Sauron.

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15 thoughts on “ What’s in an Equity Research Report? ”

Hi Brian, what softwares are available to publish Research Reports?

We use Word templates. Some large banks have specialized/custom programs, but not sure how common they are.

Is it possible if you can send me a template in word of an equity report? It will help the graduate stock management fund a lot at Umass Boston.

We only have PDF versions for these, but Word should be able to open any PDF reasonably well.

Do you also provide a pre constructed version of an ER in word?

We have editable examples of equity research reports in Word, but we generally only share PDF versions on this site.

Hey Brian Can you please help me with coverage initiated reports on oil companies. I could not find them on the net. I need to them to get equity research experience, after which only I will be able to get into the field. I searched but reports could not be found even for a price. Thanks

We have an example of an oil & gas stock pitch on this site… do a search…

https://mergersandinquisitions.com/oil-gas-stock-pitch/

Beyond that, sorry, we cannot look for reports and then share them with you or we’d be inundated with requests to do that every day.

No worries. Thanks!

Hi! Brian! Do u know how investment bankers design and layout an equity research? the software they use. like MS Word, Adobe Indesign or something…? And how to create and layout one? Thanks

where can I get free equity research report? I am a Chinese student and now study in Australia. Is the Morning Star a good resource for research report?

Get a TD Ameritrade to access free reports there for certain companies.

How do you view the ER industry since the trading commission has been down 50% since 2007. And there are new in coming regulation governing the ER reports have to explicitly priced and funds need to pay for the report explicity rather than as a service comes free with brokerage?

In addition the whole S&T environment is becoming highly automated.

People have been predicting the death of equity research for over a decade, but it’s still here. It may not be around in 100 years, but it will still be around in another 10 years, though it will be smaller and less relevant.

Yes, things are becoming more automated, but the actual job of an equity research analyst or associate hasn’t changed dramatically. A machine can’t speak with investors to assess their sentiment on a company – only humans can do that.

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Equity Research Report

Step-by-Step Guide to Understanding an Equity Research Report

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What is Equity Research Report?

Sell-side equity research analysts primarily communicate their investment thesis and perspective on the outlook of a publicly-traded company through the publication of equity research reports.

In the following guide, we’ll describe the typical components of a research report and illustrate the real-world application of these reports with regard to the buy side and sell side.

Table of Contents

What are the Different Types of Equity Research Reports?

Equity research report ratings (buy, sell, and hold), jp morgan equity research report example (pdf), how is an equity research report structured.

Equity research reports are usually available for a fee through financial data providers.

Barring a new company initiation or an unexpected event, equity research reports tend to immediately precede and follow a company’s quarterly earnings announcements.

That’s because quarterly earnings releases tend to be catalysts for stock price movements, as earnings announcements likely represent the first time in 3 months that a company provides a comprehensive financial update.

Of course, research reports are also released immediately upon a major announcement like an acquisition or a restructuring .

Additionally, if an equity research analyst initiates coverage on a new stock, he/she will likely publish a comprehensive initiation piece.

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Equity research reports are one of several types of key documents analysts have to gather before diving into a full-scale financial modeling project.

Why? The research reports contain estimates used widely by investment bankers to help drive the assumptions underpinning 3-statement models and other models commonly built on the sell side .

On the buy side , equity research is also widely used. Like investment bankers, buy-side analysts find the insights in sell-side equity research reports helpful. However, equity research is used to help the buy side professional understand the “street consensus,” which is important for determining the extent to which companies have an unrealized value that may justify an investment.

The three main types of ratings ascribed by equity research analysts are the following:

• “Buy” Rating → If an equity research analyst marks a stock as a “Buy”, the rating is a formal recommendation that upon analyzing the stock and the factors that drive price movements, the analyst has determined the stock is a worthwhile investment. The markets tend to interpret the rating as a “Strong Buy”, especially if the report’s findings resonate with investors.
• “Sell” Rating → In order to preserve their existing relationships with the management teams of publicly traded companies, equity analysts must strike the right balance between releasing objective analysis reports (and recommendations) and maintaining an open dialogue with the company’s management team. That said, a “Sell” rating is rather uncommon in occurrence because the market is aware of the relationship dynamics (and will interpret it as a “Strong Sell”). Otherwise, the analyst’s rating can be framed to not cause a steep decline in the market share price of the underlying company, while still releasing their findings to the public.
• “Hold” Rating → The third rating, a “Hold”, is fairly straightforward as it indicates that the analyst concluded that the projected performance of the company is in line with either its historical trajectory, industry comparable companies, or the market as a whole. In other words, there is a lack of a catalyst event that could cause a substantial swing — either up or down — in the share price. As a result, the recommendation is to continue to hold and see if any notable developments emerge, but regardless, continuing to hold the stock not too risky and minimal volatility in pricing should be anticipated in theory.

In addition, two other common ratings are “Underperform” and “Outperform”.

• “Underperform” Rating → The former, an “Underperform”, indicates the stock may lag behind the market, but the near-term slowdown does not necessarily mean that an investor should liquidate their positions, i.e. a moderate sell.
• “Outperform” Rating → The latter, an “Outperform”, is a recommendation to buy a stock because it appears likely to “beat the market.” However, the anticipated excess return above the market return is proportionally minor; hence, the “Buy” rating was not offered, i.e. a moderate buy.

Use the form below to download a research report from JP Morgan by the analyst covering Hulu.

Equity Research Report | JP Morgan Hulu (PDF)

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A full equity research report, as opposed to a short one-page “note”, usually includes the following sections:

• Investment Recommendation  ➝ The equity research analyst’s investment rating
• Key Takeaways  ➝ A one-page summary of what the analyst thinks is about to happen (ahead of an earnings release) or his/her interpretation of the key takeaways from what has just happened (immediately after the earnings release)
• Quarterly Update  ➝ Comprehensive detail about the preceding quarter (when a company has just reported earnings)
• Catalysts  ➝ Details about the company’s near-term (or long-term) catalysts that are developing are discussed here.
• Financial Exhibits ➝ Snapshots of the analyst’s earnings model and detailed forecasts
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I was looking for a template In word format, it would be very helpful. Nice webpage!

Thanks, but unfortunately we don’t have a Word template as these research reports have additional built-in functionality (charts, legal disclosures, etc).

was looking for an equity research report template

This article provides a report example, not a template. But we encourage you check out our financial statement modeling course!

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What is an Equity Research Report?

Contents of an equity research report, buy side vs sell side research, why do banks publish equity research reports, equity research report recommendations, different types of reports, equity research report example, additional resources, equity research report.

A recommendation to buy, sell, or hold shares of a public company

An equity research report is a document prepared by an Analyst that provides a recommendation on whether investors should buy, hold, or sell shares of a public company . Additionally, it provides an overview of the business, the industry it operates in, the management team, its financial performance , risks, and the target price.

To learn more, check out CFI’s Valuation Modeling Classes .

Let’s take a closer look at what’s included in an equity research report. Below is a list of the main sections you’ll find in one of these reports.

• Recommendation – Typically to either buy, sell, or hold shares in the company. This section also usually includes a target price (i.e., $47.00 in the next 12 months).
• Company Update – Any recent information, new releases, quarterly or annual results , major contracts, management changes, or any other important information about the company.
• Investment Thesis – A summary of why the analyst believes the stock will over or underperform and what will cause it to reach the share price target included in the recommendation. This is probably the most interesting part of the report.
• Financial Information & Valuation – A forecast of the company’s income statement , balance sheet, cash flow , and valuation. This section is often an output from a financial model built in Excel.
• Risk & Disclaimers – An overview of the risks associated with investing in the stock. This is usually a laundry list that includes all conceivable risks, thus making it feel like a legal disclaimer. The reports also have extensive disclaimers in addition to the risk section.

It’s important to distinguish between buy side and sell side research reports.

Buy side firms (asset management companies) have their own internal research teams that produce reports and recommendations on which stocks the firm and its portfolio managers should buy and sell. The reports are only used for internal investment decision making and not distributed publicly.

Sell side firms such as investment banks produce equity research reports to be disseminated to their sales and trading clients and wealth management clients. These reports are distributed for free for a variety of reasons (explained below) and have a specific recommendation to buy, sell, or hold as well as an expected target price.

Learn more about buy side vs sell side  jobs.

The sell side publishes reports to generate fees, both directly and indirectly.

Direct: Trading Commissions

When an investment bank publishes valuable equity research for an institutional client, that client is then likely to use the bank to execute their trades for that stock. While there no actual agreement to do so, it’s an unspoken rule. The bank may also use the report to persuade the client to buy more shares in a holding they already have, to therefor further increase commissions.

Indirect: Investment Banking Relationships

All banks have a Chinese Wall between their investment banking teams and research departments, but there still remains an indirect incentive for research to be supportive of stocks the bank may provide investment banking services to. The fees that investment bankers earn on underwriting and mergers and acquisitions (M&A) are huge, and a bank would never want to miss out an opportunity to work with a CEO of a public company because the bank had a “Sell” rating on their stock.

For this reason, sell side research typically includes a disclaimer along the lines of, “Bank X seeks and does business with companies that are covered in its research reports. Because of this, investors should be aware that the firm may have a conflict of interest (due to these investment banking relationships) that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.”

Each bank has their own set of recommendations (terms) they use to rate a stock. Below is a list of the most common recommendations or rating analysts issue.

Ratings include:

• Buy, Outperform, Overweight
• Hold, Neutral, Marketweight
• Sell, Underperform, Underweight

To learn more, check out CFI’s Valuation Modeling Courses .

This guide has focused on a “typical” equity research report, but there are various other types that can take slightly different forms. Below is a list of other types.

Types of reports:

• Initiating Coverage – A long report (often 50-100+ pages long) that is released when a firm starts covering a stock for the first time.
• Industry Reports – General industry updates about a few companies in a sector.
• Top Picks – A list and summary of a firm’s top stock picks and their targeted returns.
• Quarterly Results – A report that focuses on the company’s quarterly earnings release and any updated guidance.
• Flash Reports – Quick 1-2 page report that comments on a new release from the company or other quick information.

Below is an example of an equity research report on Kraft Foods. As you can see in the images below, the analyst clearly lays out the recommendation, target price, recent updates, investment thesis, valuation, and risks.

Thank you for reading CFI’s guide on Equity Research Report. To learn more, these additional resources will be helpful:

• Investment Research
• Types of Valuation Multiples
• DCF Modeling Guide
• Finance Salary Guides
• See all valuation resources
• See all capital markets resources
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Valuatum’s report templates for Microsoft Word and PowerPoint offer an individual and high-quality layout for equity research reports. Automatic data population, clear user interface, dynamic structure and a large number of pre-prepared tables and graphs speed up report preparation significantly.

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• Customized, high-quality layout

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As an equity research analyst, one of the important tasks you need to accomplish is obtaining a clear understanding about the industry or industries several companies are in, some particular things companies perform, and several ways they generate money. In order to fully understand their strategies, financials, and management, you need to make a well-detailed research and create an effective equity research report. In this article, we are glad to help you in writing the best equity research reports as we provide an informative guide and downloadable free equity research reports to guide you in your research work. Keep on reading!

Equity Research Report

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An equity research report is a beneficial document that contains the well-detailed financial analysis and recommendations concerning investment banking, sales, and trading. It gives essential details about a particular company’s target price and recommendation, compelling headline, stock vs. index graph, stock data, investment report summary or overview, business description, valuation, investment risks, and many more. Some common types of equity research reports are initiation reports, sector reports, economy reports, and quarterly/annual results update reports.

When writing an equity research report , you need to know the basic information of the company such as its accounting, products and services, management, selling practices and more. Be aware about the industry and the market’s perspective about the company. Also, take note of specific factors that your clients want when it comes to investment. 

Below are some easy-to-follow tips  that indicate how to design and write an equity research report: 

The first thing you need to do in your equity analysis report is you need to work alongside the management of your target company to identify their vision. So, you should be able to interact well with the management team or you may also meet with the senior management of the company under your coverage. Attend some of their conferences and prepare questions when you conduct an interview for the management.

The second step is gathering all essential puzzle pieces together to create the bigger picture. Simply, include your perspective of the industry, company ’s products and services, financial performance, management, and valuation. Then, decide the right recommendation or rating for the stock. Mention the target price and investment rationale.

After creating the bigger picture of the company’s financial analysis , you need to demonstrate a price shart of the company’s stock, showing last year’s share price movement. Plus, include a thorough analysis of the company’s business model and forecast its performance in the upcoming years. Additionally, a key ratio analysis of the company is necessary in your report.

To wrap up your  equity research report , think carefully in writing your explanation concerning your reason for recommendation or rating of the company you’re covering. 

Equity research is done by evaluating the company’s financial statements, conducting ratio analysis, predicting the financials, and exploring various scenarios with the aim of creating a buy/sell stock investment recommendation.                                                                                                              

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An investment research is a kind of research that provides an analysis of the performance of various kinds of financial tools such as mutual funds, stocks, debentures, bonds and many more. This is significant for the investor so that he or she can view the real performance of his or her company. Also, it helps in determining the company’s future performance for price movements. 

The main purpose of equity research is providing comprehensive financial analysis and recommendations to suitable investors, whether they purchase, hold, or sell a certain investment.

Gather your stock research materials so that you can evaluate the financial statements of your company. Then, carefully examine them. After that, you need to perform qualitative research and put your research into context.

Therefore, writing an equity research report is a worthwhile step in analyzing the financial performance of a company especially when it comes to stock investments. The book “ How to Get an Equity Research Analyst Job ” explained that when you are an equity analyst on either the buy or sell side, you are an intermediary in the capital raising process of the global financial markets. The work you do is beneficial in creating a value on publicly traded assets. Here are some of our downloadable and printable research report samples available in different kinds of formats. Simply click the report templates in this article and start downloading now!

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Equity Research Report Template

Demonstrate transparency, accountability, and provide sound financial recommendations to investors with this equity research report template..

• Design style modern
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Equity research is the process of analyzing a publicly traded company to determine its investment potential. It provides investors with detailed financial analysis and recommendations on whether to buy, hold, or sell a particular investment. Equity research can be conducted by individuals working in an investment bank's equity research division, by employees at a buy-side institution such as a mutual fund or pension fund, or by independent analysts. The primary purpose of equity research is to help investors make informed decisions about where to allocate their capital. Banks often use equity research to support their investment banking and sales and trading clients by providing timely, high-quality information and analysis. Portfolio managers also use equity research at buy-side institutions to build and manage their portfolios. The work of equity researchers is divided into three main categories: company analysis, sector analysis, and stock analysis. In company analysis, equity researchers examine a company's financial statements and track its historical performance. They also assess a company's competitive landscape and determine its prospects. In sector analysis, equity researchers look at the overall industry in which a company

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How to Write an Equity Research Report

By Brian Dzingai |

 Reviewed By Rebecca Baldridge |

November 15, 2022

What is an Equity Research Report?

An equity research report may focus on a specific stock or industry sector, currency, commodity, or fixed-income instrument, or even on a geographic region or country, and generally make buy or sell recommendations. These reports are produced by a variety of sources, ranging from market research firms to in-house research departments at large financial institutions or boutique investment banks.

Key Learning Points

• An equity research report is a document prepared by an analyst that provides a recommendation to buy, hold, or sell shares of a public company. 
• An equity research report is a document prepared by an analyst who is part of an investment research team in a brokerage firm or investment bank
• It provides an overview of the business, the industry it operates in, the management team, the company’s financial performance, and risks, and includes a target price and investment recommendation.
• It is intended to help an investor decide whether to invest in a stock.

Equity Research Report Structure

An equity research report can include varying levels of detail, and although there is no industry standard when it comes to formatting, there are common elements to all equity research reports. This guide includes some fundamental features and information that should be considered essential to any research report, as well as some tips for making your analysis and report as effective as possible. 

Access the download to see a real-world example of an Equity Research Report, annotated to show each element discussed below. 

Basic Information

The research report should begin with basic information about the firm, including the company’s ticker symbol, the primary exchange where its shares are traded, the primary sector and industry in which it operates, the current stock price and market capitalization, the target stock price, and the investment recommendation. 

In addition, a security’s liquidity and float are important considerations for the equity analyst. The liquidity of a stock refers to the degree to which it can be purchased and sold without affecting the price. The analyst should understand that periods of financial stress can affect liquidity. A stock’s float refers to the number of shares that are publicly owned and available for trading and generally excludes restricted shares and insider holdings. The float of a stock can be significantly smaller than its market capitalization and thus is an important consideration for large institutional investors, especially when it comes to investing in companies with smaller market capitalizations. Consequently, a relatively small float deserves mention. Finally, it is good practice to identify the major shareholders of a firm. 

Business Description 

This section should include a detailed description of the company and its products and services. It should convey a clear understanding of the company’s economics, including a discussion of the key drivers of revenues and expenses. Much of this information can be sourced from the company itself and from its regulatory filings as well as from industry publications. 

Industry Overview and Competitive Positioning

This section should include an overview of the industry dynamics, including a competitive analysis of the industry. Most firms’ annual reports include some discussion of the competitive environment. A group of peer companies should be developed for competitive analysis. The “Porter’s Five Forces” framework for industry analysis is an effective tool for examining the health and competitive intensity of an industry. Production capacity levels, pricing, distribution, and stability of market share are also important considerations. 

It is important to note that there are different paths to success. Strength of brand, cost leadership, and access to protected technology or resources are just some of the ways in which companies set themselves apart from the competition. Famed investor Warren Buffett describes a firm’s competitive advantage as an economic “moat.” He says, “In business, I look for economic castles protected by unbreachable moats.” 

Investment Summary

This section should include a brief description of the company, significant recent developments, an earnings forecast, a valuation summary, and the recommended investment action. If the purchase or sale of a security is being advised, there should be a clear and concise explanation as to why the security is deemed to be mispriced. That is, what is the market currently not properly discounting in the stock’s price, and what will prompt the market to re-price the security? 

This section should include a thorough valuation of the company using conventional valuation metrics and formulas. Equity valuation models can derive either absolute or relative values. Absolute valuation models derive an asset’s intrinsic value and generally take the form of discounted cash flow models. Relative equity valuation models estimate a stock’s value relative to another stock and can be based on a number of different metrics, including price/sales, price/earnings, price/cash flow, and price/book value. Because model outputs can vary, more than one valuation model should be used. 

Financial Analysis

This section should include a detailed analysis of the company’s historical financial performance and a forecast of future performance. Financial results are commonly manipulated to portray firms in the most favorable light. It is the responsibility of the analyst to understand the underlying financial reality. Accordingly, a careful reading of the footnotes of a company’s financial disclosures is an essential part of any examination of earnings quality. Non-recurring events, the use of off-balance-sheet financing, income and reserve recognition, and depreciation policies are all examples of items that can distort a firm’s financial results. 

Financial modeling of future results helps to measure the effects of changes in certain inputs on the various financial statements. Analysts should be especially careful, however, about extrapolating past trends into the future. This is especially important in the case of cyclical firms. Projecting forward from the top or bottom of a business cycle is a common mistake. 

Finally, it can be informative to use industry-specific financial ratios as part of the financial analysis. Examples include proven reserves/shares for oil companies, revenue/subscribers for cable or wireless companies, and revenue/available rooms for the hotel industry. 

Investment Risks

This section should address potential negative industry and company developments that could pose a risk to the investment thesis. Risks can be operational or financial or related to regulatory issues or legal proceedings. 

Although companies are generally obligated to discuss risks in their regulatory disclosures, risks are often subjective and hard to quantify (e.g., the threat of a competing technology). It is the job of the analyst to make these determinations. Of course, disclosures of “qualified opinions” from auditors and “material weakness in internal control over financial reporting” should be automatic red flags for analysts. 

Environmental, Social & Governance (ESG)

This section should include information on how the company manages the relationships related to Environmental, Social, and Governance. Below are some examples within these three areas that can have a lasting impact on the company’s short- and long-term prospects:

• E nvironmental – how is the company working towards the conservation of the natural world? This can include climate change and carbon emissions, air and water pollution, energy efficiency, waste management, and more. 
• S ocial – how does the company consider people and relationships? This can include community relations, human rights, gender and diversity, labor standards, customer satisfaction, and employee engagement. 
• G overnance – what are the standards for running the company? This can include board composition, audit committee structure, executive compensation, succession planning, leadership experience, and bribery and corruption policies. 

Enroll in our online ESG course and learn to identify the principles of ESG and how they are applied to investment strategies.

If you are interested in a career as an equity research analysts or in fixed income research, our online course covers all the key skills needed as either a sell side analyst in an investment bank or a buy side analyst working in an investment management firm.  

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Equity Research Report

• What is an Equity Research Report?

An equity research report is a document prepared by an equity analyst. It is a form of communication between financial experts and investors. The analyst conducts an in-depth analysis of a company, industry, or even an economy and explains his findings in the form of a report. The purpose of preparing such reports is to provide investment recommendations to the clients (buy, sell or hold).

• Who Produces Them?

As we are all aware, Buy-side firms conduct their own research on which stocks they should buy and sell. The reports are only used internally by their portfolio managers and are not available publicly.

Investment Rating / Recommendation

Company analysis, investment argument, financial performance and analysis, sample report, initiation of coverage, industry report, tips for preparing good reports.

Sell-side firms conduct equity research on behalf of their clients. Investment banks or brokerage houses sell their investment ideas to clients, expecting transaction costs and commissions in return (though there is no rule that clients have to buy). Hence, they produce reports to help them make better investment decisions. These reports are often available free for their clients. Examples of clients for such reports are pension funds, insurance companies, retail and institutional investors, etc.

Constituents of an Equity Research Report

Let us take a sneak peek into an equity research report and understand what sections are required in the report. Most of the equity reports have the following in the list of sections.

Also Read: Equity Research

This section gives an idea of what the analyst thinks about the stock. It is usually either buy, sell, or hold. This section also includes a target price, which means the best price (as per the analysts’ view) to buy/sell a company.

Includes information regarding the company. This section covers the company’s business, its products, organizational structure, management, etc. It also consists of any recent information released by the company like major contracts, management changes, or any other important information about the company.

Here, the analyst provides a detailed explanation supporting his investment recommendation. This is the most important section of the report, and an analyst spends most of his time drafting this part.

Financial analysis is performed in excel using financial modeling , but its findings are presented here. This section provides comprehensive detail on a company’s financial performance, its historical performance, and current earnings. The analyst also presents the valuation of the company and his assumptions used to predict future earnings.

Also Read: Equity Research Analyst

This section addresses the potential risks an industry or a company poses to an investor. For instance, regulatory risks, operational risks, financial risks, etc., can significantly impact the stock price.

Following is a sample report published by one of the major financial centers.

Types of Equity Research Reports

Following are the three main categories of these reports:

When a broker or an analyst starts covering up the stock for the first time, he publishes this report. This means this is the first time an analyst gives a recommendation on a particular company. Therefore, this is a detailed report that explains many things about the company. For example, the report provides exhaustive information on the company’s business, its products, services, industry, and market data. It also provides other details, for example, the rationale behind the investment recommendation, valuation, information on competitors, etc.

This report provides deep insights into a particular industry. For example, the report covers topics like recent trends in the industry, updates on the recent regulations, competitors, etc. This type of report is also usually long because it covers an entire industry. An industry report also covers information on key drivers, risk factors, and overall valuation levels, followed by shorter sections on specific companies.

This report is a relatively shorter one. Analyst issues this report to update the existing ones that already have an investment recommendation. This covers events happening in the company. For instance, earnings releases, investor day, or any major announcements by the company affect its strategies, such as an acquisition or a new product launch.

• An investor often would not have enough time to read the complete report. Hence, all the important items like a recommendation, target price, and earnings estimates must be present on the first page.
• Too much information is poisonous. A good report is that when a reader gets the required insight for the first time, he reads it. Therefore, the report has to be precise and right to the point.
• Quality and quantity matter. It is necessary to provide accurate information and is also important to deliver the reports on time. Many brokerage firms come up with similar reports. Hence, our report gains significance only if it is the first in the market to report any updates on a particular company. For example, an earnings release update does not make sense after 3 to 4 days after the release.

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Sanjay Bulaki Borad

MBA-Finance, CMA, CS, Insolvency Professional, B'Com

Sanjay Borad, Founder of eFinanceManagement, is a Management Consultant with 7 years of MNC experience and 11 years in Consultancy. He caters to clients with turnovers from 200 Million to 12,000 Million, including listed entities, and has vast industry experience in over 20 sectors. Additionally, he serves as a visiting faculty for Finance and Costing in MBA Colleges and CA, CMA Coaching Classes.

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Attached - Equity Research Template Examples

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A lot of people have asked me for equity/industry analyst report templates. In response I have attached a few BB / MM examples from JPM , GS , BMO , MS, BAML , RBC , Nomura. Enjoy!

https:// mm .JPMorgan.com/EmailPubServlet?h=-otaf686&doc=GPS-961848-0.pdf

http://www.mauldineconomics.com/images/uploads/overmyshoulder/Goldman_S…

http://www.bpcplc.com/media/22382/goldman_sachs_june_2013.pdf

http://www.resource-capital.ch/fileadmin/research/fremde/Heinz_Isler_Au…

http://www.morganstanleychina.com/conferences/apsummit2011/research/boo…

http://www.resource-capital.ch/fileadmin/research/fremde/Heinz_Isler_Ju…

http://www.merrilledge.com/publish/content/application/pdf/gwmol/BofAML…

https://www.Nomura.com/events/Nomura-upstream-conference/resources/uplo…

What the hell GS , landscape??

B/c Woody is a prick here is a GS report on AAPL - http://pdf.cyberpresse.ca/lapresse/dufour/AAPLBUY.pdf

RBC 's looks really nice imo. I hate Nomura and Jeffereies ER ; something about the red just turns me away.

Shit son... really appreciate your share. Do you have any Deutsche reports btw? Thanks!

Golden bananas for you...or wd you prefer handshakes instead

Looking at equity research reports makes me feel much better about my working all this weekend on 2 M&A deals. Technical writing makes me cringe!

it's awesome....thanks!!

Thanks WSO ,

Here's more:

Suntrust Robinson Humphrey - http://www.thestreetsweeper.org/ckfinder/userfiles/files/KEYWParrotRepo…

deutsche bank - http://www.bbbiotech.ch/fileadmin/user_upload/files/bbbiotech/de/pdf/An…

Silver bananas! Any chance you have more thematic REIT research?

BluenoseMonkey - Here you go.

JPM HK Link REIT - https://mm.jpmorgan.com/EmailPubServlet?h=n92o91lq&doc=GPS-983509-0.pdf MS FX Repot - http://www.morganstanley.com/public/FXPulse_11152013.pdf RBC REIT - http://www.investorvillage.com/uploads/51535/files/RBCdundeefeb2013.pdf

anything on healthcare/ pharma/ biotech/ med tech?

@Couchy - Here you go.

william blair and company - http://www.acgchicago.com/UserFiles/file/chicago/Web%20docs/HCare%20201…

rajsmith: @couchy - Here you go. william blair and company - http://www.acgchicago.com/UserFiles/file/chicago/W...

Do you have anything for consumer retail?

Great thanks!

This site might be usefull. Just type equity-research dot com/reports

@Stryfe - Here you go!

It's not equity but I thought I would change it up. GS Credit Research on JC Penny.

Goldman Sachs Credit Research - http://www.valuewalk.com/wp-content/uploads/2013/09/170903704-JCP-GS1.p…

rajsmith: @Stryfe - Here you go! It's not equity but I thought I would change it up. GS Credit Research on JC Penny. Goldman Sachs Credit Research - http://www.valuewalk.com/wp-content/uploads/2013/0...

Credit Suisse Research from the TMT group on Wearables Fashion - https://doc.research-and-analytics.csfb.com/docView?language=ENG&source…

many thanks

anything on MCK CAH or ABC?

MCK has been a huge value play since the last 1-2 years. Trading much higher now though... It's a stock I actively follow and definitely worth looking into.

Hi I do need some equity research report on commercial real estate....Can you help? I do appreciate your help! BR

https://www.credit-suisse.com/media/production/pb/docs/privatkunden/hyp…

one of the top results on google

Can anyone help find real estate research for UK market....

Thanks for the resources!

Does anyone have any actual tutorials/resources about how to create reports like this from scratch?

This really is amazing. Thank you so much for sharing.

This is goldmine! Rajsmith, take a bow, SIR! You're awesome!!

Great! I'm an incoming analyst and these sure would be a good read. SB-ed.

Thanks for sharing! It's a great resource for beginners.

@"rajsmith" you're AWESOME man !!

@"cynicalhbk"I aim to please

@"cynicalhbk" Saw your PM on Men's Warehouse - Here's a little something.

http://www.jefferies.com/CMSFiles/Jefferies.com/files/TheHolidays.pdf

Old Report from Asia - http://www.hsbcnet.com/nutshell/attachments/pdf/asiaPacific-consumer-di…

http://content.stockpr.com/menswearhouse/media/a63438bb9fd67a0c0b9e5006…

@"rajsmith" - Thanks so much !!

Let me know if you're able to get hold of any initiation / earnigs review notes, but this is super helpful as well. Thanks again!!

@"cynicalhbk" - if i had it i would have posted it....do you own research for your interview. good luck

Yep, working on it. Thanks for your help!

For the WSO Spanish and Portuguese speaking members here's Santander

http://www.sportsworld.com.mx/inversionistas/pdf/reportesaccion/14Q2%20…

Again for our Latin American friends here's the Santander analyst deck for their LatAm coverage (with analyst names/emails). Also you guys/gals don't know how lucky you are you have the best asses in the world!

http://www.santander.com.br/document/wps/3_Book_Santander%20LatAm%20Han…

Anything about equity research and bond markets research from Nomura ?

@astfin-juki BOOM!

https://www.nomura.com/events/global-quantitative-equity-conference/res…

http://www.lupin.com/pdf/14/20140508%20-%20Lupin%20-%204QFY14-%20Nomura…

http://www.policyexchange.org.uk/images/WolfsonPrize/nordvig%20-%20reth…

Here's one more on Nomura EM Brazil Fixed Income:

http://frombrazil.blogfolha.uol.com.br/files/2013/10/BRL-long-short-ter…

This is for @samson_dada from WF

http://www.semismatter.com/wp-content/uploads/2014/11/IndTech_rpt_14111…

@rajsmith thanks man! Do you know if these are similar to 'case studies' at their global markets research interviews?

Goldman Sachs Report on Retail Liquid Alternatives - http://www.alphacapitalmgmt.com/media/pdfs/120613_Retail_Liquid_Alterna…

@"rajsmith" Anything on gold mining companies?

@"rajsmith" Do you have JPM research reports on SMID cap banks? Thanks in advance

Equity researchs reports by Goldman Sachs are great. Can anyone give me some more. I am searching for "2012/2011 US equity outlook" by Goldman Sachs as well as other researchs on firms.

Thank so muchs

For people looking for more recent reports, this page seems to have a good and up-to-date selection: http://equity-research.com/reports/

Thank you for sharing!

Awesome. thanks for the post

Awesome posts here, anyone have anything from Barclays ?

Equity Research Template MS word ( Originally Posted: 12/20/2015 )

I wanted to ask if anyone has a MS Word Equity Research template with a functionality to fetch the standard financial statements , historical price and standard ratios from the internet. It would be a great help to input the ticker info and get all that information without having to copy/paste it.

I am sure this is not a hard thing to automate...

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Investment Research Report

Report generator.

While it is true that there are many ways business people can invest their money, how sure are they that their wealth will grow through these investments? People can pour their money in a real estate business, retail business, stocks, bonds, mutual funds, etc. However, if they do not have enough knowledge on how to manage their investments, there will be chances that they will incur more losses than earning money. This scenario gives you, as a research firm leader, an opportunity to help out these people. Enlighten these wealth seekers by feeding them the essential information about the investment data before they can waste their money blindly on the investment schemes which they may not be familiar with.

What is Investment Research?

By conducting investment research, you can get a better understanding of the performance of different investments, such as stocks, mutual funds, and other assets . Through this study, you can give out the most recent information and provide data-driven recommendations to the investors.

What is Investment Research Report?

Strategists and equity analysts who are part of the investment research company of brokerage or investment banks prepare investment research reports to help investors decide which investment and company are best for them. These reports may include information about stocks, industry sectors, currency updates, and recommendations, which are the necessary information that will support your judgment.

Bank Recommendations

Speaking of recommendations, did you know that  investment banks  also earn money for publishing quarterly or annual equity analysis or other types of investment research reports? Yes, they do! Aside from creating collateralized products, propriety trading, dark pools, and swaps, banks also publish investment research reports such as  equity research reports . Through this activity, banks can recommend the businesses they cover to the institutional investors, which encourages them to buy more shares. With that, they are getting commissions. JP Morgan is one of these banks.

8+ Investment Research Report Templates & Examples – Google Docs, MS Word, Pages

One of the most critical parts of an investment research paper development is creating a research report . It may also be the most time-consuming section of your research paper, especially if it is your first time to conduct this type of research. However, you don’t have to worry because we have collated a list of investment research report templates and examples below, which you can use for your investment research report creation. You can download these templates and samples in any file format mentioned right next to each of the contents for your convenience.

1. Market Research Report Template

• Google Docs

Size: A4 & US Letter

2. Business Research Report Template

3. Free Research Report Cover Page Template

4. Market Research Report

Size: 887 KB

5. Fashion Retailer Equity Research Report

6. Equity Research Report

7. IT Firm Equity Research Report

Size: 290 KB

8. IT Company Equity Research Report

9. Equity Research Report

Size: 126 KB

Writing an Investment Research Report

There are several factors to consider when creating an investment research report. However, there are a few basic things that you should remember to ensure that the document you create will have an impact on your target market. Follow the instructions below to develop an efficient investment research report.

1. Do Your Research

Needless to say, before you can write anything, you have to be knowledgeable about your topic before you can start writing. For example, you are researching an individual company. You can begin by looking at the company’s form 10-k. Through this report, you can have a bigger picture of the business’ financial performance. Specificifically, you can get an overview or summary of the company’s primary operations, risk factors, financial data, etc.

2. Sort the Information That You Have

Once you have gathered all the necessary data, the next thing that you will do is to organize this information. In this step, you should be able to outline how your report will go following the research proposal . You should also know the proper flow of the information you are providing. Create graphs, charts, and other tools that will help you with the interpretation of the data that you hold. After that, you can analyze this data to create useful conclusions and come up with data-driven recommendations.

3. Start Writing

One of the hardest parts of creating an investment research report is getting started in writing. We recommend that you start with the basics. First, write down the necessary parts. Use the outline that you created earlier and start breaking down with the details. On the process, you will start noticing the unnecessary and missing information. Once you have written and placed all the information correctly, you can now proceed to the next step.

4. Proofread

This step is may not be the main essence of the document, but this will also play an essential role in convincing investors with your objectives. If you aim to convince new investors , you need to ensure that they will fully understand the contents of your stock research report. To do that, you need to observe correct grammar and spelling. You also need to consider the type of audience or target market of your research. You can also use the help of your team to read your report to spot any errors and ask update suggestions from them.

As an investment researcher, you should understand that the ultimate goal of an investor is to gain more profit. They hire people like you to materialize their goals. Therefore, you should ensure that the information that you will provide to them can actually help them attain their intention. In return, you will earn their trust and reach your organizational goals. This article is just a glimpse of the big world of investment. However, there are several materials that you can use to enhance your craft and learn more about your field. You can start by reading  private equity investment .

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Equity Research Report

• Great for beginners
• Ready-to-use, fully customizable Doc
• Get started in seconds

Equity research reports are essential for effective stock analysis and decisions. A great report includes accurate data, insightful analysis, and clear visuals for better understanding of the market trends.

ClickUp's Equity Research Report Template gives you all the tools you need to confidently assess your portfolio holdings or potential investments. It lets you:

• Capture, organize, and analyze data quickly and accurately
• Move beyond spreadsheets with no-code dashboards and powerful visualizations
• Share reports publicly or privately with teammates—all in one place.

Analyze like a pro with ClickUp's Equity Research Report Template!

Equity research reports can provide investors with valuable insight into a company’s performance and potential. An equity research report template offers a number of benefits, including:

• Providing a consistent format for comparing various investments quickly and accurately
• Simplifying the process of creating detailed, comprehensive reports
• Helping analysts standardize their research processes
• Improving communication between analysts and clients

ClickUp's Equity Research Report Template is designed to help you organize and write equity research reports. This Doc template includes:

• Custom Statuses: Create tasks with specific custom statuses to keep track of the different stages of your equity research report
• Custom Fields: Categorize and add attributes to manage your equity research report to ensure accuracy and consistency
• Custom Views: Start with this Doc template and build out your ClickUp workflow which includes List, Gantt, Workload, Calendar, and more
• Project Management: Improve equity research report tracking with comment reactions, collaborative editing, automations, AI, and more

Creating an equity research report can be a challenging task, but it doesn’t have to be. By following these steps, you can easily create a comprehensive, professional looking report that will be sure to impress any investor.

Start by gathering the necessary information about the company you’re researching. This includes financial statements, company news, analyst reports, and other relevant data.

Create tasks in ClickUp to track the information you need and assign them to team members for research.

Once you have all the necessary data, it’s time to analyze it. Look at the company’s financial performance, its competitive landscape, and other factors that could affect its stock price.

Create custom fields in ClickUp to track and analyze the data points that are most relevant to the company.

Now it’s time to start writing the report. Start with a brief overview of the company and its industry, followed by your analysis of the data.

Use a Doc in ClickUp to write the report and collaborate with your team .

Adding visuals to the report can help make the data easier to digest. Use charts and graphs to illustrate key points and add clarity to your analysis.

Use the Table view in ClickUp to create visuals and charts to support your analysis.

Once the report is finished, it’s important to give it a professional look. This includes adding headers, footers, page numbers, and any other elements that will make the report look polished and presentable.

Use the Board view in ClickUp to format and organize your report for a professional appearance.

Once you’ve finished formatting the report, it’s time to review it again for accuracy and any last minute changes. When you’re satisfied with the results, you can send it to investors or other stakeholders.

Set a Milestone in ClickUp to mark the completion of the report and send it out.

Equity analysts can use this Equity Research Report Template to help everyone stay on the same page when it comes to analyzing stocks and preparing reports.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create an equity research report:

• Create a project for each equity research report
• Assign tasks to team members and designate a timeline
• Collaborate with stakeholders to research and analyze potential investments
• Organize tasks into categories to keep track of progress
• Set up notifications to stay up-to-date on progress
• Hold regular meetings to discuss progress and any issues
• Monitor and analyze tasks to ensure maximum productivity

Get Started with Our Equity Research Report Template Today

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Report Templates

26+ research report templates – word, pdf.

Have you tried writing a report summary of a study academic or business project? It is not the same as writing an executive summary to a research template you read online or do at school. Writing a report for a study can be tricky. The contents should only contain your research analysis design and results. However, each outline in your research paper features many vital pieces of information, and some may find it challenging what details they should use. With our research report templates , we give a brief overview of writing your summary report with the sample content. Even a university student or elementary student from 2nd grade, 4th grade, and 5th grade can write a simple yet formal report within minutes.

Report Template Bundle

• Google Docs

Sample Market Research Report Template

• Apple Pages

Academic Research Report with Title Page

Business Research Report Template

Research Report Cover Page Template

Investment Research Report Template

Corporate Research Report Outline Template

Company Research Report Template

Brand Research Report Template

Research Report Executive Summary Template

Research Report Gantt Chart Template

Equity Research Report Layout Template

Monthly Research Short Report Template

Market Research Contents Report with Introduction

Technical Qualitative Research Report

Business Design Thesis Report in PDF Format

Kinds of Research Reports

• A market research report layout is a study done by a business to identify their market position and how they are perceived both by their target and prospective markets. Market research may also include comparisons with the products and/or services offered by the company’s competitors.
• A qualitative research report design is mainly focused on understanding concepts and ideas. It is a study that can be used as a foundation for quantitative research.
• An academic research report format is created by students who would like to identify solutions for existing problems or understand the framework of various undertakings. Usually, it is a part of the academic requirements of students.
• A research progress report is done within the duration of a research project or study to assure that all the steps or processes needed for the research completion will be accurately implemented.

Professional Study Academic Research Report

College Research Progress Report Outline

Free Writing Formal Project Report

Secondary High School Research Executive Summary Report

Free Analysis Report Outline Template

Free University Student Research Evaluation Report

Free Elementary School Science Research Report Template

Free APA Research Report Template

5th Grade Marketing Research Report Template

Free 2nd Grade Research Report Template

Free 4th Grade Research Report Template

Guidelines for Preparing Research Reports

• Assure that all the variables of the professional report are present. If you are already done with the research and you will just present its results, your research report needs to be comprehensive and arranged in an organized manner.
• Use a template as a guide. Since the format or layout structure of a research report in Google Docs can affect its presentation in a lot of ways, you need to assure that you are properly guided in preparing the word document.
• Be critical with the items that you will include in the report. You need to assure that your research report is based on reality and that all the processes that are done by the researchers are reflected in the report.
• Familiarize yourself with the research report in Word . Maintain a format from the beginning of the report up to the end of the research report presentation. It will help the people who will review the document to have an easier time browsing it. You can also see more on Weekly Status Reports .

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