What problem does it solve? Standard DCF valuation breaks down for banks, pre-revenue startups, distressed firms, private companies, and commodity businesses. This Skill executes the correct non-standard valuation branch chosen by the orchestrator's routing, producing the same downstream artifacts as a standard intrinsic valuation so critics and reconcilers never branch on company type. ## Core Features & Use Cases - Branch-specific engines: Runs excess-return models for financial service firms, revenue-driven models with failure probability for young firms, probability-weighted distress blends with an equity-as-option cross-check, normalized earnings for cyclicals, and total-beta plus illiquidity-discount adjustments for private companies and IPOs. - Constraint enforcement: Refuses forbidden methods (e.g., no FCFF for banks, no illiquidity discount for IPOs) and records every excluded standard method with its constraint for audit. - Contract-compliant outputs: Writes forecast.json, dcf-result.json, and intrinsic.md under the intrinsic stage's contract, validated by a cross-artifact consistency checker. - Use Case: An orchestrator routes a distressed retailer to this stage; it computes a bond-implied cumulative default probability, blends going-concern and distress values, cross-checks equity as an option, and hands downstream stages a standard artifact set. ## Quick Start Ask the valuation orchestrator to value a distressed or private company and it will delegate the non-standard branch to this stage automatically.
