Model Update
Workflow
Step 1: Identify What Changed
Determine the update trigger:
- Earnings release: New quarterly actuals to plug in
- Guidance change: Company updated forward outlook
- Estimate revision: Analyst changing assumptions based on new data
- Macro update: Interest rates, FX, commodity prices changed
- Event-driven: M&A, restructuring, new product, management change
Step 2: Plug New Data
After Earnings
Update the model with reported actuals:
| Line Item | Prior Estimate | Actual | Delta | Notes |
|---|---|---|---|---|
| Revenue | ||||
| Gross Margin | ||||
| Operating Expenses | ||||
| EBITDA | ||||
| EPS | ||||
| [Key metric 1] | ||||
| [Key metric 2] |
Segment Detail (if applicable):
- Update each segment's revenue and margin
- Note any segment mix shifts
Balance Sheet / Cash Flow Updates:
- Cash and debt balances
- Share count (buybacks, dilution)
- Capex actual vs. estimate
- Working capital changes
Step 3: Revise Forward Estimates
Based on the new data, adjust forward estimates:
| | Old FY Est | New FY Est | Change | Old Next FY | New Next FY | C…
