Investment Banking • Buy-Side Advisory • Valuation

Citi Buy-Side Acquisition Case Study

Completed Citi Investment Banking Job Simulation acting as a buy-side analyst for a hypothetical retail acquisition involving company profiling, financial forecasting, valuation analysis, and investor communication synthesis.

Project Overview

Worked on a simulated buy-side acquisition assignment for Big Box Retail evaluating the acquisition of a smaller retail company through structured investment banking analysis.

Developed company profiles, valuation frameworks, financial projections, and internal investment summaries replicating core analytical work typically performed within investment banking advisory engagements.

The project focused on analysing strategic fit, operating performance, valuation benchmarking, and financial scalability across the retail sector.

Company & Industry Analysis

Prepared a detailed company profile for Best Buy covering enterprise valuation, operating performance, strategic positioning, management structure, and recent corporate developments.

Analysed market positioning within the North American retail and consumer electronics industry while reviewing operational efficiency, growth drivers, and shareholder return strategy.

The analysis also evaluated broader retail sector dynamics including AI integration, digital transformation, and consumer demand sensitivity.

Financial Forecasting & Modelling

  • Built a five-year income statement forecasting model
  • Projected revenue growth, EBITDA trends, and operating profitability
  • Analysed scalability and operating leverage assumptions
  • Evaluated enterprise valuation positioning under varying performance scenarios
  • Assessed shareholder return and margin sustainability trends

Comparable Company Valuation

Conducted trading comparable analysis across major retail companies including Walmart, Target, Costco, Lowe’s, Home Depot, Kohl’s, and Macy’s.

Compared EV/Revenue, EV/EBITDA, revenue scale, EBITDA margin, and enterprise value positioning to benchmark valuation ranges and operational performance.

The analysis highlighted how scale, profitability, and operating efficiency influence valuation multiples across retail and consumer-focused businesses.

Investor Communication & Strategic Insights

Synthesized investor updates and operational developments into internal investment banking style summary reports to support decision-making and strategic review processes.

The exercise strengthened understanding of how investment banks structure concise internal updates combining valuation analysis, strategic commentary, financial performance, and market sentiment.

Skills & Tools Applied

Investment Banking Trading Comps Company Analysis Enterprise Valuation Financial Forecasting Excel Modelling Investor Reporting Strategic Analysis Financial Analysis PowerPoint

Key Learnings

Strengthened practical understanding of buy-side advisory workflows including company screening, valuation benchmarking, financial forecasting, and strategic acquisition assessment.

The project also improved analytical thinking regarding valuation methodologies, investor communication structure, and the relationship between operational performance and market valuation multiples.