Individual skill

company-teardown

Reverse-engineer a target's business model, unit economics, growth drivers, and risk profile from disclosed and inferred data. Use at the start of any sell-side or buy-side mandate, before drafting a CIM section, pitching coverage, or building a financial model. Built around revenue decomposition, cost-structure analysis, capital intensity, and concentration risk.

skills/company-teardown/SKILL.md

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# Company Teardown

## Purpose

Build a fact-based working view of a company — how it makes money, what it actually costs to run, what its capital intensity looks like, who its customers and suppliers are, and where its risks concentrate — before any valuation or model is built.

The teardown is the foundation. A model built on a misread of the business will be precise and wrong.

## Governing Principle

**Read the business before you read the multiple.**

The model is downstream of the teardown. The valuation is downstream of the model. The recommendation is downstream of the valuation. Skip the teardown and every downstream layer is contaminated.
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