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Operating Leverage

What is corporate risk? A company’s risk comes down to the fluctuations of its free cash flows (FCF).  Assuming that the past reflects the future,...

Modeling of Cyclical (Seasonal) Data

This post references the following Excel workbook: Seasonality Many times in finance the historical data that needs to be modeled and/or used as a basis...

Managing Business Value Creation

Business at its most fundamental level is about creating value.  Without value creation (a.k.a., a value proposition), a business is limited in what it...

WMT vs. TGT vs. AMZN 2018

Seven years ago we compared Target (TGT) to Wal-Mart (WMT), and found that Wal-Mart dominated Target on almost every financial ratio except stock valuation. ...

Target (TGT) vs. Wal-Mart (WMT) 2011

In 2011, The Model Mill company created this post showing that there was no comparison between Target and Wal-Mart, with Wal-Mart dominating Target in...