Analyst Program Presentation TemplateThe purpose of this template is to provide guidance for what your presentation should include and to aid you in your research. We require all information as shown after the index slide.

Please feel free to be somewhat creative and add additional information above and beyond this template, if wanted.

Each presentations should run between 15 to 20 minutes with additional time allowed for questions when completed.

Remember to comply with the SIA philosophy and minimum requirements before moving further with research on a stock. This information can be found on our website www.msu.edu/~investor

Philosophy and RequirementsThe Student Investment Association Investment Philosophy

Invest in companies that appear to be undervalued. We invest in companies based on their fundamental values and metrics, not based on momentum or speculation. These companies should have or should be developing a strong competitive advantage. We only invest in companies that meet our criteria, and do not fall outside our metrics. The reasons for purchasing a company should be defined (quantitative and qualitative) at the time of purchase, and should be sold when the company no longer falls in these measures.

The Initial Screen

Price to Earnings ratio at or below the industry average

Price to Book ratio at or below the industry average

The Company’s 3 year average Return on Equity should be greater than or equal to industry average

The Goals and Objectives

The main purpose of the fund is to educate students by allowing for a real-world application of the theoretical concepts necessary to run an investment portfolio.

Prepare students for a career in Wall Street and/or another investment related field.

Speakers serve to educate students as well as provide networking and job opportunities.

Introduction Slide• Name Stock: both name and ticker symbol

• Rating: Scale 1-10 (1=Strong Sell, 5=Hold, 10=Strong Buy)

• Risk level: Low, Medium, or High

• Three major reason for recommendation

• Three major risks attributed to the stock

*The quality of your presentation is very important to us. The more time and research you put into your presentation the better it will be. Remember to look on the SIA website for additional information. You are not limited to these sites, we encourage you to find and use other resources.

Company Overview• Recommended 2-4 slides

• Items to include: business description (Keep it short), key customers, product segments, properties, markets they are in

• Catalysts and drivers for their business, may want to include economic data

• Make sure to include numbers– Things to consider in the business summary:

• Focus on primary business dynamics • Competitive landscape • Market profile: what is driving product demand • Financial trends (i.e. balance sheet, FCF, share repurchases,

dividend program, cost of capital trends, etc.)

Company Comparison

• Include 1-2 slides

• On 1 slide must include a comparison of its 2 best competitors, industry, and sector financial information in an easy to read table. As in the example seen in next slide.

• Make sure the competitors are true competitors

Company Comparison (Table)Merit Medical Systems Inc

Valuation Ratios Company ICUI BCR

Medical Equipment &

Supplies Healthcare

P/E: 29.35 24.08 27.86 29.85 28.31Beta: 1.04 1.26 0.49 0.63 0.67Price/Tangible Book: 2.89 2.46 7.78 8.92 9.86Dividend Yield %: n/a n/a 0.71 0.94 2.41Revenue - 5 Yr. Growth Rate %: 12.88 23.9 10.94 18.25 16.9EPS - 5 Yr. Growth Rate %: 9.07 9.09 13.08 20.56 14.02Debt/Equity: 0 0 8.07 35.2 41.8ROE: 9.16 10.9 18.02 17.17 15.24ROE 5 Yr. Avg %: 15.09 11.43 20.37 18.09 17.85Gross Profit % Margin: 39.11 38.38 60.75 62.09 68.36

Recent News

• Include 1 slide on recent news

Recent Financial Information

• Include 1-2 slides on recent financial information such as quarterly earnings and earnings surprises (did they not meet or beat earnings in previous quarters)

Management Background

• Keep to 1 slide and be brief, include only pertinent information

• Include insider trading and share buybacks here

Corporate Governance

• Keep to 1-2 slides

• Found on form Def 14A, include information on how board is elected, management compensation, conflicting interests, and information on insider’s holdings, protection to shareholders in event of a takeover, etc

DCF and Valuation Summary

• Keep 1-3 slides• Show DCF• Give information on your valuation, how

you came to your numbers and why• Include risks to your valuation

Summary• Restate recommendation, reasons and risks

• If buy or sell, recommend type of order (market or limit) and at what price.

• Disclosure: do any of you personally own this stock?

• If this was your own money would you stick by your groups decision?

• If recommendation is a buy then at what price would you recommend to then sell the stock and vice versa.