A classic framework that never goes out of style - Porter's 5 forces

 

Just keep the company analysis simple. You want to look at the balance sheet and the income statement, but you are also going to have to make a judgement about the company's position in the competitive landscape. The financials are all public information and backward-looking. It is hard to get an edge, but the assessment of the competitive landscape is forward-looking and can lead to better return assessment. The problem is that it is hard to quantify the competitive five forces. If there can be a ranking or coring of the competitive landscape, there can be the opportunity for higher return and differentiation by investors. Can this be done? It should be possible, but it will not be easy and requires some special skills as ranking different competitive characteristics.