This page will get you started on the Comparable Companies Analysis project. First, you have to identify comparable companies! There are two main ways to identify comparable companies: Industry profiles or surveys, and comparable or peer analysis tools in databases such as Thomson One, Refinitiv Workspace, or Mergent Online.
Directly below are some sample industry reports, and some resources for finding more industry profiles.
There is also information about industry classification. You will need to know about these classificatoin systems for two reasons:
After identifying comparable companies, you must collect financial data on them. Go to the Company Financials page for more instruction on this.
The purpose of industry classification systems is:
To define and describe lines of business (i.e. industries) to allow the collection and publishing of data.
NAICS, the system used in North America, works well in some areas, and poorly in others. Its emphasis is on the means of production. Investing classification systems (TRBC and GICS) focus instead on broader business sectors, sectors defined more by type of investment (e.g. consumer packaged goods vs. luxury goods). The FactSet Revere system focuses on the supply chain.
Tesla is clearly a car manufacturing company. But here are some questions you may want to consider: