Sector Primers
Getting up to speed on an unfamiliar sector usually means a week of scattered reading. Each industry primer compresses that into one PDF: how the sector makes money, the metrics and benchmarks that matter, with fully worked valuations and an Excel model behind the numbers.
- Primer PDF
- £25
- Excel model
- £45
- PDF + Excel model Best value
- £59
- Sector library: three primers, three models
- £159
One-off purchases, no subscription.
01 Mining
Mining guides →- Mining AISC, cost-curve position and sum-of-parts NAV From £25 · £59 with the model
- Royalty & Streaming Portfolio NAV, GEO mechanics and stream margins From £25 · £59 with the model
- Steel & Bulk Commodities The steel spread, cost curves and through-cycle value From £25 · £59 with the model
Complete Mining Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
02 Energy
Energy guides →- Oil & Gas Reserves, decline curves and a going-concern NAV From £25 · £59 with the model
- Midstream & Pipelines Distributable cash flow, coverage and contract quality From £25 · £59 with the model
- Refining Crack spreads, capture rates and mid-cycle EV/EBITDA From £25 · £59 with the model
Complete Energy Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
03 Real Estate
Real Estate guides →- REITs Cap rates, NAV and FFO/AFFO From £25 · £59 with the model
- Mortgage REITs Agency carry and the book value scoreboard From £25 · £59 with the model
- Infrastructure & Digital REITs Towers and data centres on P/AFFO bands From £25 · £59 with the model
Complete Real Estate Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
04 Financials
Financials guides →- Banks P/TBV through sustainable returns, with the CET1 capital walk From £25 · £59 with the model
- Insurance Combined ratios, float economics and P/BV through ROE From £25 · £59 with the model
- Alternative Asset Managers Fee-related earnings, carry and perpetual capital From £25 · £59 with the model
Complete Financials Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
05 Defence & Aerospace
Defence & Aerospace guides →- Defence Primes Backlog, book-to-bill and FCF conversion on funded programmes From £25 · £59 with the model
- Commercial Aerospace Backlog-years, aftermarket mix and EV/EBITDA by model From £25 · £59 with the model
- Space & Satellites Launch economics, capex intensity and EV/sales screens From £25 · £59 with the model
Complete Defence & Aerospace Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
06 Power & Infrastructure
Power & Infrastructure guides →- Regulated Utilities Rate-base growth traced through to regulated EPS and the P/E premium From £25 · £59 with the model
- Renewables & IPPs Contracted PPAs, the yieldco CAFD bridge and the merchant discount From £25 · £59 with the model
- Transport Infrastructure Toll roads and airports on a finite-life concession DCF From £25 · £59 with the model
Complete Power & Infrastructure Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
07 Transport Operators
Transport Operators guides →- Shipping Broker fleet NAV, mid-cycle TCE and the scrap floor From £25 · £59 with the model
- Airlines RASM/CASM spreads, load factor and EBITDAR leverage From £25 · £59 with the model
- Railroads The operating ratio scoreboard, RPU mix and ROIC against WACC From £25 · £59 with the model
Complete Transport Operators Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
08 Healthcare
Healthcare guides →- Pharmaceuticals Patent cliffs, pipeline rNPV and a year-by-year sum-of-parts From £25 · £59 with the model
- Biotech Cash runway, the probability chain and multi-programme rNPV From £25 · £59 with the model
- Medtech Installed base, organic growth and a franchise DCF that pays for growth From £25 · £59 with the model
Complete Healthcare Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
09 Chemicals
Chemicals guides →- Commodity Chemicals Chain margins, the cost curve and a DCF that runs the cycle from trough to mid-cycle From £25 · £59 with the model
- Specialty Chemicals Pass-through, margin stability and whether ROIC earns the premium multiple From £25 · £59 with the model
- Industrial Gases Supply modes, take-or-pay contracts and a sum-of-the-parts valuation From £25 · £59 with the model
Complete Chemicals Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
10 Agribusiness
Agribusiness guides →- Fertilisers Nutrient prices, the gas-linked nitrogen cost curve and earnings rebuilt at mid-cycle From £25 · £59 with the model
- Ag Processing & Trading Board crush, merchant working capital and ROIC against WACC From £25 · £59 with the model
- Aquaculture Farming cost and EBIT per kg, licence capacity and biological risk From £25 · £59 with the model
Complete Agribusiness Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159
11 Technology
Technology guides →- Software Net retention, the Rule of 40, stock pay and a reverse DCF From £25 · £59 with the model
- Technology Hardware The product cycle, working capital and mid-cycle margins From £25 · £59 with the model
- Semiconductors The chip cycle, capital intensity and margins through the cycle From £25 · £59 with the model
Complete Technology Library: all three primers with their Excel models, £159 (£210 bought separately). Buy All - £159