About Gutenberg Research

​​We are an interactive earnings modeling community, driving the evolution of equity research. Our mission is to make dynamic earnings models, available to everyone. With the assistance of our Contributor Analysts, we are currently building an inventory of models covering companies from multiple industries...continue reading 

Modeling Training Program

Our Certificate in Financial Modeling Program provides an easy to follow, step-by-step approach to financial modeling training.  In this program we build a financial model from the ground up..continue reading

Our Modeling Approach

​We calibrate our Basic and Premium Models to meet the consensus analyst estimates. This gives our model users a base-line starting point from which they can make adjustments using their own expectations ...continue reading

Become a Contributor

You don't have to work on Wall Street to become a financial modeling expert. Join our community of contributors today ...continue reading

Virtual Intern Program

Join us in disrupting the traditional Wall Street internship experience. Our Financial Modeling Intern Program is a part-time, virtual internship. ​We teach our interns how to use models to estimate a company's future earnings, and publish their work to showcase their modeling skills to future employers ...continue reading

Register Your Book

If you have purchased our book Financial Modeling for Equity Research please click the button below to register your book, and to access the associated spreadsheets.

Trending Earnings Models

​Try downloading our consensus-based earnings model for your favorite company, and plug in your own forecast today. The models below represent our most downloaded companies.
Facebook (NASDAQ FB)
Facebook Inc (NASDAQ:FB)
​This model uses Monthly Active User growth rates and Average Revenue Per User to project future Revenue.
 Starbucks Corporation (NASDAQ SBUX)
Starbucks Corp (NASDAQ:SBUX)
​This model uses estimates of new stores and revenue per store by geographic region to project future revenue.
Microsoft Corp (NASDAQ MSFT)
Microsoft Corp (NASDAQ:MSFT)
​To forecast revenue, this model applies growth rates to the four reportable segments: Productivity & Business Processes, Intelligent Cloud, More Personal Computing, and Corporate.
 Netflix Inc (NASDAQ NFLX)
Netflix Inc (NASDAQ:NFLX)
​This model breaks down Netflix’s earnings by segment: Domestic Streaming, International Streaming, and DVD. Growth in users and revenue per user are used to estimate future earnings.
Apple Inc (NASDAQ AAPL)
Apple Inc (NASDAQ:AAPL)
​This model uses iPhone, iPad, Mac, and Apple Watch unit sales growth rates and average selling price to project future revenue. Ratio analysis is used to complete the Income Statement.
 Amazon.com Inc (NASDAQ AMZN)
Amazon.com Inc (NASDAQ:AMZN)
​This model breaks down Amazon’s results by segment: North America, International and Amazon Web Services (AWS). Growth rates and historic seasonality are used to project future earnings.
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Tesla Motors Inc (NASDAQ:TSLA)
​This model uses estimates of vehicle deliveries and average selling price per vehicle to project future revenue.
 Home Depot Inc (NYSE HD)
Home Depot Inc (NYSE:HD)
​This model uses customer transactions, average ticket value, and ratio analysis to forecast earnings.
Alphabet Inc (NASDAQ GOOGL)
Alphabet Inc (NASDAQ:GOOGL)
This model breaks down Alphabet’s results by segment. Revenue is show gross and net of Traffic Acquisition Costs (TAC). TAC is projected using the historic TAC-to-ad revenue ratio.
 The Federal Reserve Washington
Equity Risk Premium Model
In this spreadsheet we estimate the market Equity Risk Premium (ERP) using the Constant Sharpe approach, and forecasts for interest rates, volatility, and equity market returns.