Buy-side advisory from the data room and the filings
Verify the seller's numbers before the client relies on them, and build the valuation on reported inputs the committee can open.
SpreadSpaceâ„¢ reads the financial statements, tax returns, bank statements and schedules a seller places in the data room, and the 10-K and 10-Q filings of the target and its public peers, and spreads them for the buy-side team. Every extracted figure keeps a link to the page it came from, so the analyst, the managing director and the client's board can open the source behind any number.
Build the diligence view of earnings with the adjustments shown, line up the comparables under your firm's chart of accounts, develop the valuation and the synergy cases in the spreadsheet and write the recommendation in your firm's template. Work in SpreadSpace or embed the workspace in your deal platform.
Start from the data room and the filings, not the summary
Upload the audited and reviewed statements, the tax returns, the bank statements and the debt schedules from the data room, and the target's own 10-K and 10-Q filings when it is public. SpreadSpace reads the supported statements and schedules and keeps each company, reporting period and stated unit identifiable.
Supported consolidating statements keep each entity's column and the reported eliminations beside the consolidated total, so the perimeter of the deal is settled before a figure is counted twice.
Open the page behind any figure
A source-linked figure opens the uploaded document at the highlighted line. When the client asks where a number came from, the answer is the page, not a recollection.
For derived figures, the contributing rows and their own sources stay available. The reviewer sees what a total includes before relying on it.
Test the seller's adjustments and make your own
The seller's adjusted EBITDA and the buy-side view of it stay separate. Analysts accept, reject or replace each adjustment, and the spread shows every one beside the reported line it adjusts, with the period and the supporting document attached.
Lay the two earnings numbers side by side in the spreadsheet so the client sees which is the seller's and which is the adviser's, and what the gap is made of.
Line up the comparables under one chart of accounts
Upload the filings of the public peers and the extracted statements take the same presentation as the target's under your firm's chart of accounts. Compare margins, growth, leverage and returns across the set, with the reported lines kept behind the mapped figures and the notes tables beside the statements.
Build the valuation and the synergy cases in the spreadsheet
Continue in the spreadsheet with formulas that cite the spread. Project the periods, build the discounted cash flow with NPV and XNPV, read the returns with IRR and XIRR and lay the combined case beside the standalone one, with the historical inputs still linked to their pages.
The team chooses the method, the assumptions and the conclusions. Reported inputs, analyst adjustments and forecast assumptions stay labeled apart so the client can tell what each part of the model represents.
Write the recommendation in your firm's template
Upload the memorandum your firm already produces, as a PDF or a Word document, and SpreadSpace reproduces its structure as a reusable template. Bring the spread, the adjusted earnings schedule, the comparables and the valuation into it as exhibits and write the recommendation around them.
Reviewers open a figure in the exhibit and land on its source. Finalizing records the version the client saw, and reopening it is an explicit, recorded step.
Bring the review into your deal platform
Use the native workspace or embed the review in the deal management system your firm already runs. Documents, spreads, source review and the memo appear inside your application, and an integration can retrieve finalized spreads and memo renders through the API.
Run the workflow on a recent mandate
Bring the data room from a recent deal, the target's filings and the memorandum your firm delivered. Follow one figure from the seller's documents into the adjusted earnings schedule, the comparables and the exhibit, and see whether a second reviewer can do the same.
Keep exploring
Public market research
- 10-K, 10-K/A, 10-Q and 8-K extractionFinancial statements, as filed
- Earnings releasesResults as announced, ahead of the filing
- REITs and real estateSegment NOI and FFO from the filings
- Financial statement spreadingStandardized line items across periods
- Portfolio monitoringEach company's statements and filings, every period
- Business valuation memosFirst drafts from the extracted financials
M&A advisory
Due diligence
- Financial due diligenceRun quality of earnings and diligence work on traced documents.
- Quality of earnings reportAdjusted EBITDA, every adjustment sourced
- Net working capital and the pegAR and AP aging, net debt and the bridge
- Proof of cashBank activity tied to the books
- Tax-to-book reconciliationThe filed return beside the statements
- Deal diligence for private equityThe seller's numbers from the data room
- Leveraged buyoutsLeverage the target can carry, from its own cash flow
SMB
- SMBTax returns, bank statements, financial statement analysis and global cash flow for small-business lending.
- Tax return underwritingBusiness and personal returns, connected to cash flow
- Bank statement underwritingDeposits, balances and financing activity in context
- Global cash flow and debt serviceBusiness, guarantor and proposed debt in one review
- Financial statement analysisMessy, unstructured borrower data is normalized and spreadable within seconds
Middle Market
- Middle MarketFinancial statements, interim performance, complex borrower groups and debt service in one commercial credit review.
- Financial statement analysisAnnual statements, interim performance and lender adjustments
- Global cash flow and debt serviceRelated businesses, guarantors and proposed debt
- Debt schedules and financingNotes, maturities and payments beside the financials
- Credit memosReviewed spreads and repayment analysis, together
Real Estate
- Real EstateProperty financial statements, adjusted NOI, sponsor support and debt service coverage for commercial real estate lending.
- Property financial statementsOperating statements and rent rolls in one review
- Adjusted NOIProperty income, expenses and lender adjustments
- Sponsor and guarantor cash flowConnect property repayment to sponsor support
- Debt service coverageProperty DSCR with proposed financing
Mortgage
- MortgageBorrower income, self-employment, rental properties and debt-to-income with the original evidence in view.
- Income verificationBorrower income connected to the supplied documents
- Self-employed borrower incomePersonal returns and the business behind the income
- Rental income analysisProperty income and expenses, traced to the source
- Debt-to-income analysisVerified income and monthly obligations together