Actionable Reports That Also Maximise Usability

LSR delivers its insights in three simple formats: standardised and customised financial models, detailed initiation reports and timely actionable reports on companies and thematic analyses.

Financial models

LSR creates financial models with the aim of maximising ease of use. We prioritise the ability to test sensitivities, grasp key drivers and put valuations and earnings in context vs. history rather than superfluous detail.

Company & Thematic Reports

LSR focuses on providing company reports in two formats: deep and comprehensive explanatory notes to improve investor understanding of the essence of companies, and timely impact notes to gauge the effect of significant catalysts.

LSR also provides thematic reports with the aim of putting developing technologies and trends into context with respect to their viability and likely impact on companies, industry and society. 

Framework

LSR breaks down the analysis of companies into three main components based on the framework of traditional DCF or NPV models - growth potential, risk and valuation.  

Growth                                                             

We measure potential growth as a function of market growth potential, degree of saturation, scope for productivity/efficiency gains, pricing power, capacity expansion, technological advantages and demonstrated management quality and execution.

Risk

Risk is defined in terms of the potential for volatility in earnings, adverse news flow or sentiment, and non-fundamental flows. We do not view risk as a negative in itself but as a modifier for expected potential returns. 

Valuation

We consider valuation to be of vital importance in providing a margin of error in decision making. As such we make great efforts to analyse and understand historical valuations, their context and the distribution of the valuation range the market assigns a particular company.