Industry and Competitive Analysis
Free CFA Level I lesson in Equity Investments. 13 min read, ~1,995 words.
Top-down process: define industry, classify peers, size the market, map structure, assess external forces, then value the company. Three classification axes: products/services (GICS, ICB, TRBC), business cycle sensitivity (cyclical vs. defensive), statistical clustering. Industry life cycle: embryonic, growth, shakeout, mature, decline. Each stage has its own growth and profitability profile...
Read the full lesson, free →
Worked examples, audio narration, and practice. No signup to read.
What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- industry and competitive analysis
Browse all free CFA Level I lessons or jump into free CFA Level I practice questions.