Brandon Leon

Toolkit · IB-grade workbook

Trading Comps. Built once, refreshable for any ticker.

19 tabs, every formula auditable. Football Field with nine methodologies, mini-DCF, mid-cycle EBITDA for cyclicals, WACC build, sensitivity grids. The Python pipeline pulls live data from Yahoo and rebuilds the workbook for any ticker in ~30 seconds. IB-grade methodology, audited end-to-end.

See it work first — the free Demo

Frozen workbook with a real Micron (MU) build at $499.45 / $570B market cap, plus the full long-form thesis as an example of the kind of analysis the workbook lets you produce. Drop your email, get the .zip. ~113 KB. No follow-up unless you opt in.

Just the file by default. Disclaimer.

Thanks — here's the demo.

Download the demo (~113 KB) MU example · Apr 2026 · .zip

If the download doesn't start, click here. Want the full live-refresh pipeline? Two paid tiers below ↓

The demo is the workbook frozen on MU. The paid tiers below add the Python pipeline that rebuilds it for any ticker, with cyclical adjustments and through-cycle multiples auto-applied.

Get the full pipeline

Standard

The workbook + live refresh.

$79

One-time. Personal & professional use.

  • The full 19-tab Trading Comps workbook (3,049 formulas, 0 errors)
  • Python refresh pipeline — pulls live data from Yahoo Finance for any ticker in ~30 seconds
  • 16-peer comp set (1 target + 15 peers)
  • Sector-aware presets: Standard / Oil & Gas / Semiconductors / AI / Hyperscaler
  • Cyclical adjustments tab — mid-cycle EBITDA, through-cycle multiples
  • Football Field with 9 valuation methodologies
  • Mini-DCF with WACC × terminal-growth sensitivity
  • Includes .bat launchers (no command-line needed)
  • Free email support for setup issues
  • Free updates within v1.x
Buy Standard — $79 →

Pro · for serious analysts

Everything in Standard, plus the analyst’s working set.

$249

One-time. Includes white-label use.

  • Everything in Standard
  • Jupyter notebook (Trading_Comps.ipynb) for inline analysis & tweaking
  • Compiled refresh.exe — run the pipeline without installing Python
  • Developer guide — how to extend the engine, add custom tabs, swap data sources
  • MU through-cycle thesis memo (the long-form write-up)
  • Sample Sectors guide (worked builds for 5 sector flags)
  • White-label license — rebrand for internal team use at a fund / firm
  • Priority email support
  • Free updates within v1.x
Buy Pro — $249 →

Both tiers are one-time purchases via secure checkout (Lemon Squeezy / Stripe). Files are delivered instantly to your inbox + your customer portal. 14-day refund if it doesn’t fit your workflow.

What's in the workbook

How to use it

Same flow for both paid tiers. Pro skips the Python install.

  1. Buy & download

    One-click checkout. The .zip arrives in your inbox + appears in your buyer portal so you can re-download anytime.

  2. Run the installer (Standard only)

    Double-click 1 - INSTALL EVERYTHING.bat. Detects your Python (or installs it), pulls the dependencies (yfinance, openpyxl, pandas, numpy, jupyter), one-time setup. Pro skips this step thanks to refresh.exe.

  3. Set your target ticker

    Open Inputs tab in the workbook. Change the target ticker (default: MU). Optionally swap the sector flag (Standard / Oil & Gas / Semiconductors / AI / Hyperscaler) and the cycle window (default: 7 years).

  4. Refresh

    Double-click 2 - REFRESH DATA.bat (Standard) or refresh.exe (Pro). Pulls 80 fields per ticker for the target plus 15 peers, plus macro benchmarks. Writes the workbook. Done in ~30 seconds.

  5. Open and use

    Open Trading_Comps_Workbook.xlsx in Excel. Excel recalculates on open. The workbook is now populated for your target. Use the cover tearsheet for IC; use Football Field for the pitch slide; use Mini-DCF as your sanity check.

What you need

FAQ

What's the difference between the Demo, Standard, and Pro tiers?
The Demo is the workbook frozen with Micron at $499.45 / April 2026 data. You can study every formula, see what a finished IC analysis looks like, and use the methodology by hand — but the data won't update. Standard ($79) adds the Python refresh pipeline that rebuilds the workbook for any ticker in ~30 seconds, plus all the .bat launchers so you never see a command line. Pro ($249) adds the Jupyter notebook for inline analysis, a compiled refresh.exe so buyers without Python can still run it, the developer guide for extending the engine, the long-form MU thesis memo, and a white-label license for internal team use.
Does it really work for any ticker?
Yes — the engine is sector-flag-aware. Switch between Standard / Oil & Gas / Semiconductors / AI / Hyperscaler in the Inputs tab and the multiples, peer-set defaults, and cyclical adjustment factors auto-tune. Yahoo Finance covers most US-listed equities and major international tickers (NYSE, NASDAQ, LSE, TSE). For names Yahoo doesn't track, missing fields visibly show "N/A" rather than silently filling with a magic number.
What's special about the Cyclical Adjustments tab?
Most peers' "trading comps" sheets show LTM EV/EBITDA. For a cyclical name at a peak (say, MU at $18.7B EBITDA in 2026), that's misleading. The Cyclical Adjustments tab computes mid-cycle margin = mean(EBITDA / Revenue) over a 7-year cycle, applies it to LTM revenue, and shows the through-cycle EV/EBITDA. For MU at $499 that's 30× LTM but ~14× through-cycle. The "honest multiple" for any name where margins are visibly off-trend.
Is the data actually live?
Yes. Each refresh hits Yahoo Finance for live IS / BS / CF / estimates / market data on the target plus 15 peers. Per-refresh you also get live macro benchmarks (risk-free rate, ERP, rates curve) so the WACC and the football field re-calibrate. The Audit Log tab records exactly what was pulled, from where, and at what timestamp.
How is this different from a generic comps spreadsheet on Etsy?
Three things. (1) Live refresh. Etsy templates are static; you re-key data every time. This rebuilds for any ticker in 30 seconds. (2) Cyclical adjustments built in. Mid-cycle and through-cycle multiples are first-class, not an afterthought. Critical if you cover semis, oil & gas, materials, autos, or anything else with a cycle. (3) Audited, IB-grade methodology. Peer-blended multiples, scenario layering, and sensitivity surfaces consistent with sell-side IC standards.
I'm not technical. Will I be able to run this?
Yes. Standard ships with three .bat launchers: install, refresh, open workbook. Double-click the file, watch the green-text terminal scroll for ~30 seconds, open the result in Excel. Pro also includes a compiled refresh.exe if you'd rather not have Python on your machine. If you can use Excel and double-click an icon, you can run this.
Does the Pro tier let me white-label?
Yes — for internal team use at one fund / firm. You can rebrand the workbook headers, footers, and cover tab, and use it on your team's machines. Public redistribution is not included; for that, get in touch.
What's the refund policy?
14 days, no questions asked. If the workbook doesn't fit your workflow, email [email protected] and you'll get a full refund.
Will there be updates?
Yes — both tiers get free updates within v1.x. New sector presets, additional metrics, bug fixes, methodology refinements. Major version bumps (v2.x) will likely be a discounted upgrade for existing buyers, not a forced re-purchase.
Can I see the workbook before I buy?
Yes — download the free Demo above. It's the actual workbook, frozen with Micron data so you can audit every formula and tab before deciding.
Who built this?
Brandon Leon — independent equity analyst out of Southern California, CFA Level 2 candidate, MBA Finance, former lower-middle-market PE. Read more on the about page.

Try the demo. Decide on the pipeline.

The free Demo shows you the workbook. The paid tiers turn it into a tool you can run on any ticker.

Get the demo ↑ See paid tiers ↑

Universal Edition · Apr 2026 · Built by Brandon Leon. For the interactive web calculator, see the Trading Comps Calculator. For other tools, see the toolkit.