Step seven

Your position, and what it rests on

The model produces arithmetic. The conclusion has to be yours, and it has to name the assumptions it depends on.

Write it down

Export

The JSON export carries every input, every source record and the engine version, and reimporting it reproduces the same outputs. The Markdown brief is the readable version; the CSVs are the numbers and the provenance.

Finance review checklist

No professional finance review has taken place on this analysis. Before anyone relies on it, these are the scope assumptions a reviewer would have to accept or change:

• Five annual periods, end-of-year discounting, unlevered FCFF, USD only.
• A linear margin path from the starting margin to the year-five margin.
• Cash tax as max(EBIT, 0) times one forward rate, with no carryforwards.
• Stock-based compensation inside EBIT and not added back to cash flow.
• Operating leases as operating expense, and out of the debt figure.
• Excess cash, non-operating assets and the diluted share count are reviewed judgements, not extracted facts.
• Terminal reinvestment set by terminal growth over terminal ROIC, replacing explicit capital intensity after year five.
• This company is fictional, so no real filing supports any figure here.