Finder.Corporate Finance

Financial analysis for investment decisions.

Finder analyzes investments and capital allocation alternatives: appraises each project, compares return and risk, measures the impact on the company's cash and debt, and organizes the information for management or the board.

Unlike a feasibility study of a single project, investment analysis looks at the whole portfolio: what to do first, what to defer and what not to do with the capital available.

Discuss your investment See what you receive

When it makes sense

When there are more projects than capital.

Projects competing for capital
Which to prioritize, using the same criteria for all.
Build or buy
Acquisition, organic build or partnership, with return and risk compared.
Annual capex plan
The year's project portfolio reviewed before approval.
Organic growth or acquisition
The path that delivers the most growth per dollar invested.
Buy, rent or lease assets
The effective cost of each way of having the asset.
Investment in progress
Continue, adjust or stop a project that has changed course.

What you receive

Alternatives compared on the same basis.

Appraisal of each alternative

Each option's return, measured the same way.

Incremental cash flow
NPV, IRR and payback
Comparable assumptions across options

Risk and sensitivity

What could go wrong with each.

Scenarios by alternative
Critical variables
Execution risk

Impact on the company

The effect on the whole, not just the project.

Consolidated cash
Leverage and covenants
Remaining investment capacity

Prioritization

The order that makes sense for the capital available.

Ranking by return and risk
Sequencing over time
Capital constraints

Financing

How each investment could be funded.

Possible sources by project
Cost of capital and structure
Incentive programs, where applicable

Decision materials

Information organized for those who approve.

Side-by-side comparison
Reasoned recommendation
Board or management pack

Point of view

Deciding what not to do is also a decision.

Almost every growing company has more projects than capital.

The analysis compares alternatives on the same basis and shows the opportunity cost of each choice: what the company gives up when it chooses one project over another.

Return
What each alternative delivers, measured the same way.
Risk
What could go wrong, and what it would cost.
Capital
What fits the cash flow and borrowing capacity.

How we work

From alternatives to recommendation.

Alternatives and criteria
Which options are on the table and how they will be compared.
Individual appraisal
Return, risk and assumptions for each alternative.
Consolidated impact
The effect of each combination on cash and debt.
Recommendation
Prioritization, sequencing and decision materials.

Frequently asked questions

What clients usually ask.

How is investment analysis different from a feasibility study?

A feasibility study answers whether one project pays off. Investment analysis compares projects with each other and with the capital available, and considers their combined effect on the company's cash and debt.

How do you compare projects of different sizes?

With more than one metric. NPV shows how much value each project creates; IRR and the profitability index show efficiency per dollar invested. When capital is limited, the combination that creates the most value within the budget is usually better than simply picking the highest IRRs.

How do you decide between organic growth and an acquisition?

Compare the value created, the timing and the risk of each path. Acquisitions tend to be faster and more expensive, with integration risk; organic growth tends to be slower, with execution risk. The analysis puts both on the same basis and shows the impact of each on the company's cash.

Does the analysis consider how projects are financed?

Yes. How a project is financed changes the return to shareholders and the capacity to invest. Where incentive financing is available, it is included in the comparison together with our capital raising practice.