Spreading Comps Analysis

This question practices the full workflow of relative valuation, from selecting the right peer group to normalizing financials, calculating valuation multiples, and interpreting the results. It tests whether you understand the difference between trading comps and transaction comps, how to adjust reported numbers so companies can be compared on a like for like basis, and how to think about the drivers that make one company deserve a higher or lower multiple than another. Interviewers ask this because spreading comps is a core banking skill, and they want to see that you can organize messy public data, apply judgment to accounting and business differences, and translate market evidence into a credible valuation framework.