MANDA INSTITUTE

A sector report every month, written only when the month's research supports one.

One report per sector per month, composed by the sector report agent from the research facts, the sector multiple and the transaction records the platform already holds. A sector with too little data in the month gets no report, and staff can see why. Each report is free to read on the site and to download as a PDF, and every figure carries its source and the date it speaks for.

What a report holds
Every section is rendered from the row the agent stored when it composed the report. Nothing is recomputed when you open the page or download the PDF, so the two never disagree.
What the month's research recorded
The research facts the platform's pipeline read from published documents in that month, grouped by kind and linked to the document each one came from, with the document's date. A count per kind states the whole, and the most corroborated facts are shown.
These are the sources' statements. They are not MANDA's findings, and the report says so.
The sector multiple and its source
The current EV to EBITDA range and median held for the sector, with the publisher, the vintage the observation speaks for and whether it is a published figure or MANDA's own estimate worked out from the published anchor. The eurozone all sector anchor sits beside it for context. When no current multiple is held, the report prints that sentence and no number.
Transaction records, counted not quoted
How many transaction records the platform holds for the sector, split into those a reviewer has approved and those still awaiting review. A figure from an unapproved record is never printed. Where none has been approved, the report says that no figure is printed and why.
A short narrative, guarded
A language model writes a few plain sentences from the report's own facts and figures. If its draft contains any number that is not one of those figures, or a quantity in words, the draft is discarded and the report prints a note in its place. The narrative is an index to the sections, never a finding of its own.
How a month becomes a set of reports
The month ends
On the first of each month the scheduled run starts for the month just ended, once, on whichever server holds the scheduler lease. Staff can also start a run for a named month from the admin screen.
Sufficiency first
For each sector the agent counts the research facts recorded in the month and the distinct documents behind them. Below 5 facts or 3 documents it stops: no figures are read, no narrative is drafted, and the row is stored as withheld with the counts and the reason. Staff see it; the public site does not.
Figures from records, narrative from the figures
For a sector above the floor, the agent reads the multiple, the anchor and the transaction counts, keeping the id and the vintage of each record. Then one model call drafts the narrative, and the numeral guard decides whether it is printed.
Stored, listed, downloadable
The whole report is written to one row. The research page lists published reports beside the briefs; each opens on its own page and renders to PDF from the same row. A published report for a month is never overwritten by a later run.
What the agent reads, and what it never does
Research facts and their documents
The facts the research pipeline extracted from published documents in the month, each with its document, the document's date and how many documents corroborate it. The pipeline and its sources are described on the financial research page.
Sector multiples and the anchor
The current observation for the sector and the eurozone all sector anchor, through the same resolver every other page uses, with publisher, vintage and provenance label. The method is set out on the methodology page.
Transaction records
Counts by review status only. The report never carries a figure from a record no reviewer has approved, and never a figure at all when no record is approved.
What it never does
It does not predict, rate or recommend. It does not cover listed companies or their shares, and it does not value any company. It writes no report for a sector whose month falls below the floor, rather than stretching thin data into one.
The software composes. People set the floor and read what was withheld.
What it stores, records and drafts
Runs once a month for every sector, checks sufficiency first, and reads the figures only for a sector above the floor.
Stores every field the page and the PDF show, with the id and the date of each record a figure came from.
Drafts the narrative with a language model and discards any draft that introduces a number of its own.
What only a person does
MANDA staff set the sufficiency floor and see every withheld or failed month with its reason on the admin screen.
MANDA staff can start a run for a named month by hand; a published report is never replaced by that run.
A reviewer approves each transaction record before any report may count it as approved.
Read the reports, or start with your own number.
The published sector reports are listed on the research page beside the briefs, free and without an account. If the question is your own company's value, the free benchmark answers it.
Built for European businesses
Free to start. No account needed for the instant benchmark.
The one success fee we intend to charge, only when a deal closes.
The instant benchmark takes under 60 seconds.
Owners across the EU, EEA, UK and wider Europe can use the valuation form.
Export or permanently delete everything we hold, any time.
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