1. Growth quality
How persistent is revenue growth when adjusting for cohort decay, price/mix and competitive response?
Methodology
From P&L to valuation: five questions
A structured approach to linking growth quality, cash conversion and discount rates for board‑level decisions.
Five questions we ask
Use these prompts to translate operating narratives into value drivers and sensitivities.
2. Cash conversion
What drives working capital and capital intensity across the cycle and what is improvable?
3. Moats and churn
How durable are acquisition economics and retention; what shocks matter most?
4. Risk and discount rate
What specific risk factors justify the cost of capital used in valuation?
5. Exit and stakeholders
Which scenarios, multiples and milestones align with stakeholders and strategy?
Putting the framework to work
We apply this lens in diligence, equity stories and board workshops to prioritise actions that move value.