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Finance for Strategic Decisions · Inside-Out & Outside-In

What Your Numbers
Are Really Saying

Your own financials reveal the strategic decisions hiding in plain sight. The market's lens reveals what your board doesn't yet know it's being judged on. Copeland brings both into the same room — and tells you what to do about it.

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24+
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The Copeland Advantage

Two Lenses.
One Strategic Answer.

The most consequential strategic decisions are made without a complete picture. Copeland provides the two lenses every board needs but rarely has simultaneously.

Lens One · Inside-Out
Your Financials. Your Reality. Unfiltered.

We take your numbers — revenue, invested capital, operating profit, tax — and calculate what your business is actually generating in Economic Profit, by division, against its true cost of capital. Most management teams know which divisions are profitable. Very few know which divisions are creating shareholder value. These are not the same question.

Lens Two · Outside-In
What the Market Has Already Decided About You.

Every stock price embeds an expectation — a specific implied growth rate, a specific assumption about future ROIC. Using Expectations Investing frameworks, Copeland reverse-engineers that assumption and sets it against your actual strategic plan. The gap between what the market expects and what your strategy delivers is where valuation risk lives.

The Decisions We Serve

Every Strategic Decision
Deserves Both Lenses

🏦
Investment Banks & M&A Advisory

The board that knows its own Economic Profit by division — not just its consolidated P&L — makes fundamentally different capital allocation decisions. Copeland surfaces what those numbers are actually saying about strategy before the next board meeting.

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🧠
Strategy & Management Consulting

When an activist appears on the register, when a competitor makes a move, the C-suite that can answer with mathematical precision wins the conversation. Copeland anchors every strategic argument in the company's own financial reality.

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📊
Deal Desk & Private Equity

The difference between a good acquisition and a value-destroying one is not the price — it is whether the board understood the target's Economic Profit trajectory before they signed. Copeland applies the inside-out lens to any target.

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📈
Boards & Independent Directors

The board that sees both lenses — what their own financials are saying and what the market is silently concluding — makes fundamentally different governance decisions. Copeland gives you both before the next board meeting.

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The Mechanics

The Math Is the Infrastructure.
The Decision Is the Output.

Core Measure
NOPLAT
EBIT × (1 – Effective Tax Rate)

Strips out debt, interest, and accounting noise to reveal what the business actually earns from its operations.

Efficiency Metric
ROIC
NOPLAT ÷ Invested Capital

How much cash does this business generate for every dollar deployed? When ROIC exceeds WACC, value is created.

Hurdle Rate
WACC
(Ke × %E) + (Kd × %D × (1–T))

The hurdle rate your business must clear just to stay even. Every capital allocation decision should be evaluated against this.

The SVA Spread
Economic Profit
Invested Capital × (ROIC – WACC)

The only number that tells you whether you are creating or destroying value. Copeland surfaces this before your competitors do.

The Problem We Solve

Three Questions Every Board
Asks. Rarely Has Answered.

Most boards receive financial reporting. Very few receive financial insight. The gap between the two is where strategy goes wrong.

01
Where are we actually creating value — and where are we destroying it?

The P&L shows revenue and profit. It does not show whether the capital deployed to generate that profit is earning above its cost. A division can be profitable and still be destroying shareholder value — if ROIC sits below WACC.

Copeland's inside-out lens: your own financials, decomposed to reveal where Economic Profit is positive, negative, and why.

02
What is the market pricing in — and does our strategy match that expectation?

Every stock price contains an implied growth assumption. Most boards do not know what theirs is. When strategy is built without knowing what the market already expects, capital gets allocated to meet a growth target the market never required.

Copeland's outside-in lens: the market's price-implied expectations, reverse-engineered and set against your strategic plan.

03
Given both, where should our capital go next — and what should we stop funding?

The integration of the inside-out and outside-in view produces a strategic answer: a clear, mathematically grounded picture of where value creation is possible, where it is not, and what the board needs to decide.

Copeland's strategic output: not a valuation. A decision. Anchored in your business. Stress-tested against the market.

SCQA Narrative Architecture

The Narrative Framework

S
Situation

The macroeconomic baseline and the company's current position within its industry sector.

C
Complication

The mathematically identified Value Leak — margin compression, ballooning Invested Capital, or a negative ROIC–WACC spread.

Q
Question

What operational levers must management pull immediately to stop the value destruction?

A
Answer

The strategic playbook — divestitures, pricing power, CapEx reduction — required to optimise Economic Profit.

★ Point of View · HBR Submission 2026

When the Outside-In View
Reveals What the Board Cannot See

"When committed backlog is misclassified as speculative growth, the implied growth rate a board reads from its valuation can overstate what the company must actually do to justify its share price — and strategy and capital follow the wrong signal."

Author
B.V. Sriraman
Status
Pending HBR Review
Sectors
Defence · Aerospace · Shipbuilding
Pre-Order Study — $49
EV
= CV + kV + fV
The three-layer decomposition
CV — Current Value
kV ★ — Committed Value
fV — Future Growth Value
SVA Teardowns

Both Lenses.
Every Teardown.

See exactly what your Investment Committee, board, or deal desk would receive. Every teardown uses live regulatory data, institutional-grade ROIC/WACC/NOPLAT decomposition, and a McKinsey SCQA narrative.

24+
Published teardowns
Daily
Cadence
All
US · India · Europe markets

Commission a bespoke institutional SVA — your target, your financials, your Investment Committee's questions answered. Delivered in under 48 hours with a fully unlocked Excel model.

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Products & Pricing

Built for the Board.
Priced for the Decision.

★ Board Subscription · Recommended Starting Point
Quarterly Board Refresh
$20,000 / year

For boards who need a live feed into the value reality of their business — not just an annual point-in-time snapshot. Four times a year, your board receives both lenses.

Q1 · Year Open
Where Does Value Stand?

Full inside-out teardown on latest annual filings. Economic Profit by segment. ROIC vs. WACC spread. Strategic gap identification.

Q2 · Mid-Year
Is the Strategy Working?

Updated on interim filings. Peer ROIC benchmark refresh. Capital allocation efficiency review. Early warning on value-destroying trends.

Q3 · Outside-In
What Has the Market Re-Priced?

Full expectations recalibration. Gap between market expectation and your strategy — widened or closed? Board-ready strategic implications.

Q4 · Planning Cycle
What Should the Board Decide?

Full-year synthesis. Capital allocation recommendations ranked by value creation potential. Outside-in gap analysis. Board presentation-ready.

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Monthly · CEO Accountability
Copeland Monitor
$15,000 /mo
For active transformations

Monthly inside-out value refresh showing whether strategic initiatives are converting to measurable value.

Monthly ROIC trajectory update
Initiative tracking vs Economic Profit
Outside-in sentiment update
Board-ready one-page CEO summary
Enquire →
Retained · High Volume
Partner Desk
$20,000 /mo
Strategy partners · Deal desks · Quant funds

Five Copeland Dossiers per month, triggered on demand, delivered in under two hours. A retained analytical partner.

5 × Dossiers/month on demand
Direct API / Webhook access
Private financials accepted
White-label outputs
Contact Sales →
One-Off · Entry Point
Copeland Dossier
$5,000
Per report · Delivered <48 hours

A single, complete institutional SVA on any target — public or private. The full picture in one white-label-ready package.

White-label pitch deck (.pptx)
Fully unlocked Excel model
Peer benchmark matrix
15–20 page SCQA narrative memo
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Free Sample · $0 · Proof of Concept
Try Copeland Research free

SVA Master Methodology PDF · Executive Summary on a company of your choosing · Methodology Overview. Requests must originate from a verified enterprise email address.

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About Copeland Research

Built So Your Board
Never Gets It Wrong

"The most dangerous strategic decisions are made by boards that know their own business well — but have never been shown what the market is silently concluding about it."

— Copeland Research · The Copeland Mandate

Copeland Research was built on a single conviction: every board making a consequential strategic decision deserves both lenses simultaneously. The Copeland SVA Engine runs live at value.scangeni.us. The methodology honours Tom Copeland, whose foundational work on NOPLAT, ROIC, and Expectations Investing defines our methodological spine.

SR
B.V. Sriraman
Founder & Editor-in-Chief

ScanGeni Ventures · Accenture Strategy (25 yrs) · Metyis. 29 years across strategy, corporate finance, and AI-native product development.

DN
Drig Neti
Contributing Scholar · Strategic Narrative

Author — The Krishna Cipher · When Quiet Becomes Home. Scripta Indica imprint.

RA
Review Advisory Panel
Institutional Peer Review

Open to qualified applications. Senior practitioners — PE principals, CFOs, strategy partners, academics. Applications reviewed quarterly. Apply →

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