Publication
Financial Modeling Case Study: OOVA
https://www.toptal.com/management-consultants/financial-modelers/financial-modeling-case-study
Elizabeth is currently unavailable
Elizabeth J. Howell Hanano, CFA
Verified Expert in Management Consulting
Management Consulting Expert
Annapolis, MD, United States
Toptal member since October 3, 2017
Bio
Elizabeth has around 15 years of experience in finance, consulting, and doggedly finding answers to things most people consider "too hard." She thrives at competitive analysis, valuation, growth strategies, pitch decks, and financial models and forecasts. She started in equity research at the investment bank Raymond James. She moved to a hedge fund before becoming an independent financial consultant. Elizabeth is also a business writer; she managed Toptal's Finance Blog for nearly six years.
Career Highlights
Equity Analyst
Systematic Financial Management
Senior Equity Research Associate - Semiconductor
Raymond James
Equity Research Associate - Airlines
Raymond James
Education Highlights
Bachelor's Degree
University of Pennsylvania
Certification Highlights
Chartered Financial Analyst (CFA)
CFA Institute
Case Studies
High-Level Analysis of New Technology
TechnologyMarket Research & AnalysisMicrosoft PowerPointMicrosoft ExcelForecastingRevenue Modeling+ 22 more
Management and Board Reporting Slide Deck
Board PresentationsCompany AnalysisRevenue AnalysisUnit EconomicsProfitability AnalysisModeling+ 21 more
Board Presentation: M&A Analysis
Mergers & Acquisitions (M&A)Market ResearchValuationDCF ValuationModelingComparable Company Analysis+ 30 more
In-Depth Industry Analysis Report
Market Research & AnalysisAircraft & AirlinesResearchComparable Company AnalysisIndustry AnalysisMicrosoft Excel+ 26 more
Expertise
- Comparable Company Analysis
- Competitor Analysis & Profiling
- Content Marketing
- Financial Modeling
- Industry Analysis
- Market Research
- SEO Marketing
- Valuation
Work Experience
Lead Finance Blog Editor
2017 - 2021
Toptal
- Led the Toptal Finance Blog team, which consisted of 3-4 editors and the Toptal consultant network.
- Worked with Toptal consultants to determine a topic based on their expertise, tie it in with what our audience would want to read, and ensure a cohesive narrative based on fact as well as the author's unique anecdotes and insights.
- Used various proprietary unpaid methods to grow our readership. Created relationships with other publications to syndicate our work, secured interviews with top thinkers (Steve Blank), and created a specific marketing plan for each post.
- Peer-reviewed all articles personally or found another expert to do so.
- Researched and wrote blog posts that tied into Toptal's business goals.
- Was on the Toptal Speakers Network, Toptal Writing Academy Instructor, and Toptal Cultural Ambassador.
- Excelled in Google Analytics, Google AdWords, and SEO.
Focus areas: Writing & Editing, Content Writing, Research, Market Research, Management, Marketing, Financial Writer, Google Analytics, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Spreadsheets, Leveraged Buyout (LBO)
Equity Analyst
2013 - 2017
Systematic Financial Management
- Carried out the stock selection for a $1 billion sleeve of a $14 billion portfolio of long-only equity investments.
- Analyzed industry data to understand business trends, competitive dynamics, and regulatory changes across a wide swath of industries.
- Developed a proprietary investment framework to determine the most attractive companies and industries.
- Worked with C-level management teams to help sharpen their investor messaging and advised on growth plans as well as M&A opportunities.
- Created extensive financial models and employed multiple valuation techniques, including comparable company analysis, DCF, SOTP, and transaction analysis.
- Consistently ranked in the top three analysts regarding stock returns versus benchmark.
Focus areas: Market Research, Equity Research, Growth Equity, Valuation, Financial Benchmarking, Comparable Company Analysis, Business Planning, Financial Modeling, Capital Structure Analysis, Mergers & Acquisitions (M&A), Pitch Decks, Fundraising, Revenue & Expense Projections, Cosmetics, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, eCommerce, Forecasting, Revenue Modeling, Apparel & Accessories, FactSet, Bloomberg, Financial Services, United States, Capital IQ, Capital Raising, Retail & Wholesale, Research, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Capital Structuring, Semiconductors, Unit Economics, Market Research Analyst, Three-statement Modeling, Private Equity Consultant, Profitability Analysis, Market Research & Analysis, Finance, Beauty Products, Budget Modeling, Business Modeling, Consumer Insights, Growth Strategy, Competitor Analysis & Profiling, Aircraft & Airlines, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis, Spreadsheets, Leveraged Buyout (LBO)
Senior Equity Research Associate - Semiconductor
2012 - 2013
Raymond James
- Assessed 20+ semiconductor companies, which involved in-depth analyses of industries, independent financial forecasting, comparable company valuation, market research reports, company research reports, slide decks, and management consulting.
- Participated in advising Mindspeed on its acquisition of Picochip as well as on its convertible senior notes offering. Created market research report, comparable company analysis, M&A analysis, and financial models.
- Participated in the IPO process for MACOM Technology Solutions (MTSI). Created an analog semiconductor research report, researched market position pricing, developed financial models, and completed comparable company analysis.
- Researched and wrote an in-depth report simplifying small cell technology and how it would impact various industries and companies.
- Ranked in the top ten of around 80 associates in the May 2013 Institutional Equity Salesforce vote for associates; received multiple recommendations for a promotion to an analyst position.
- Presented stock recommendations to institutional clients (e.g., hedge funds, mutual funds) with a tailored message specific to client interests (e.g., longer-term vs. shorter-term, growth vs. value investors).
Focus areas: Growth Capital Raising, Profitability Analysis, Market Research, Valuation, Three-statement Modeling, Financial Modeling, Revenue & Expense Projections, Capital Structure Analysis, Comparable Company Analysis, Equity Research, Capital Markets, Capital Raising, Mergers & Acquisitions (M&A), Pitch Decks, Fundraising, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, Forecasting, Revenue Modeling, FactSet, Bloomberg, United States, Capital IQ, Research, Business Planning, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Capital Structuring, Semiconductors, Unit Economics, Market Research Analyst, Market Research & Analysis, Finance, Budget Modeling, Business Modeling, Growth Strategy, Competitor Analysis & Profiling, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis, Spreadsheets, Investment Banking, Leveraged Buyout (LBO)
Senior Equity Research Associate - Softline Retail
2010 - 2012
Raymond James
- Wrote research reports on 20+ apparel retailers and beauty companies, including company and industry research, building 3-statement models with detailed inputs, pitch decks, and valuation analysis.
- Ranked in the top 15 of around 80 associates in the Institutional Equity Salesforce vote in 2011 and 2012.
- Created marketing slide decks to concisely depict industry trends, comparable company analyses, and specific company investment theses.
Focus areas: Three-statement Modeling, Revenue & Expense Projections, Market Research, Capital Markets, Growth Capital Raising, Valuation, Equity Research, Financial Modeling, Pitch Decks, Fundraising, Cosmetics, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, eCommerce, Forecasting, Revenue Modeling, Apparel & Accessories, FactSet, Bloomberg, United States, Capital IQ, Capital Structure Analysis, Capital Raising, Retail & Wholesale, Research, Business Planning, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Capital Structuring, Unit Economics, Market Research Analyst, Mergers & Acquisitions (M&A), Private Equity Consultant, Profitability Analysis, Market Research & Analysis, Finance, Beauty Products, Budget Modeling, Business Modeling, Consumer Insights, Growth Strategy, Competitor Analysis & Profiling, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis, Spreadsheets, Investment Banking, Leveraged Buyout (LBO)
Equity Research Associate - Airlines
2008 - 2010
Raymond James
- Participated in the Initial Public Offering (IPO) processes for Spirit Airlines. Created financing structure models, 3-statement projections, comparable company analysis, a market research report on low-cost carriers, and a pitch deck for investors.
- Participated in the Initial Public Offering (IPO) processes for Multiplus. A Brazilian airline, TAM, wanted to spin off its frequent flyer business, Multiplus. Created valuation analysis and research reports.
- Completed a valuation assignment for Volaris as well as multiple follow-on offerings for AirTran.
- Wrote research reports on 20+ low-cost, regional, and legacy airlines in Latin America, Europe, and the US. Included financial forecasts, comparable company analysis, pitch decks, and valuation assessment.
- Received Wall Street Journal's "Best on the Street" award together with the team.
- Formed strong working relationships with management teams, consistently securing CEO attendance at the Raymond James Annual Growth Airline conference.
Focus areas: Capital Markets, Growth Capital Raising, Valuation, Profitability Analysis, Three-statement Modeling, Market Research, Revenue & Expense Projections, Equity Research, Financial Modeling, Mergers & Acquisitions (M&A), Pitch Decks, Fundraising, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, Forecasting, Revenue Modeling, FactSet, Bloomberg, United States, Capital IQ, Capital Structure Analysis, Capital Raising, Transportation & Shipping, Latin America (LATAM), Research, Business Planning, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Unit Economics, Market Research Analyst, Market Research & Analysis, Finance, Budget Modeling, Business Modeling, Growth Strategy, Competitor Analysis & Profiling, Aircraft & Airlines, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis, Spreadsheets, Investment Banking, Leveraged Buyout (LBO)
Other Experience
Publication
Corporate Venture Capital: The Devil...or an Innovative Growth Channel?
https://www.toptal.com/management-consultants/venture-capital-consultants/corporate-venture-capital
Publication
How to Recreate the Resources of a Bloomberg Terminal for Free
https://www.toptal.com/management-consultants/commercial-finance-consultants/bloomberg-terminal-alternative
Publication
Valuation Ratios: The Key Metrics Management Consultants Need to Know
https://www.toptal.com/management-consultants/valuation/valuation-ratios
Publication
Green for Takeoff: Inside the Electric Airplane Industry
https://www.toptal.com/management-consultants/market-research-analysts/electric-airplanes
Publication
How to Get Consulting Clients – An Interview with Steve Blank
https://www.toptal.com/management-consultants/financial-consultants/how-to-get-consulting-clients
Publication
Legal Sports Betting: A New Economy Built on Vice
https://www.toptal.com/management-consultants/market-research-analysts/legal-sports-betting
Publication
How to Be an Amazing Financial Consultant
https://www.toptal.com/management-consultants/financial-consultants/amazing-financial-consultant
Publication
2017 Holiday Spending Forecast: Will Be Better Than Expected
https://www.toptal.com/management-consultants/equity-research-analysts/holiday-spending
Publication
Pearls of Wisdom—The Best Shareholder Letters Nobody Is Reading
https://www.toptal.com/management-consultants/equity-research-analysts/best-shareholder-letters
Education
2008 - 2008
Series 7, 63, 86, 87 Certifications in Finance
FINRA - USA
2002 - 2006
Bachelor's Degree in Health Care Markets and Finance
University of Pennsylvania - Philadelphia, PA, USA
Certifications
SEPTEMBER 2017 - PRESENT
Google Analytics Certification
MAY 2017 - PRESENT
Google Adwords Certification
AUGUST 2014 - PRESENT
Chartered Financial Analyst (CFA)
CFA Institute
Skills
Finance
Market Research, Forecasting, Revenue Modeling, Revenue & Expense Projections, Profitability Analysis, Capital Structuring, DCF Valuation, Asset Valuation, Three-statement Modeling, Capital Raising, Comparable Company Analysis, Capital Structure Analysis, Equity Research, Mergers & Acquisitions (M&A), Valuation, Financial Modeling, Fundraising, Stock Price Analysis, Cost Reduction & Optimization (Cost-down), Equity Research Analysis, Financial Benchmarking, Growth Equity, Growth Capital Raising
Output Software
Microsoft PowerPoint, Microsoft Excel
Data & Analysis Software
Bloomberg, FactSet, Capital IQ
Industry Expertise
Apparel & Accessories, Aircraft & Airlines, Capital Markets, Semiconductors, Retail & Wholesale, Financial Services, Transportation & Shipping, Technology, Public Companies
Geographic Expertise
Latin America (LATAM), United States, China
Other
eCommerce, Beauty Products, Budget Modeling, Cosmetics, Financials, Business Modeling, Market Research Analyst, Market Research & Analysis, Consumer Insights, Growth Strategy, Business Planning, Research, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Unit Economics, Modeling, Equity Investment, Company Research, Company Strategy, Pitch Decks, Excel Modeling, Business Strategy, Stock Analysis, Communication, Competitor Analysis & Profiling, Writing & Editing, Finance, Financial Writer, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Turnaround Consultant, Turnaround Management, Content Marketing, Organic SEO, SEO Marketing, Content Creation, Email Marketing, Finance Blog, Blogging, Brand Marketing, Investment Analysis, Spreadsheets, Google Ads, Google Analytics, Private Equity Consultant, Investment Banking, Leveraged Buyout (LBO), Content Writing, Management, Marketing, Financial Forecasting, Competitive Analysis
Collaboration That Works
How to Work with Toptal
Toptal matches you directly with global industry experts from our network in hours—not weeks or months.
1
Share your needs
Discuss your requirements and refine your scope in a call with a Toptal domain expert.
2
Choose your talent
Get a short list of expertly matched talent within 24 hours to review, interview, and choose from.
3
Start your risk-free talent trial
Work with your chosen talent on a trial basis for up to two weeks. Pay only if you decide to hire them.
Top talent is in high demand.
Start hiring