On March 22–23, our team of 3rd year students, Jei, Nishan, Tianna (AFM), and Anoosha (Biotech/CPA), had the opportunity to represent the University of Waterloo at the Van Berkom John Molson Small-Cap Case Competition, hosted at Concordia University in Montreal. The competition brought together students from across North America to pitch investment ideas for small-cap public companies (those with a market capitalization ranging from approximately $300 million to $2 billion) over two fast-paced, high-intensity days.
Each day followed the same structure: An hour to familiarize ourselves with a company, a simulated analyst call with management, four hours to build our deck and model, and then a final presentation to a panel of industry judges.
On day one, we analyzed Groupe Dynamite (TSE: GRGD), a Canadian women’s fashion retailer, and had the unique opportunity to ask the CFO questions directly, which was an invaluable experience for building our understanding of the business and strategy. On day two, we covered Fluidra (BME: FDR), a Spanish pool equipment manufacturer and roll-up (a company that has grown by acquiring multiple smaller companies in the same industry), which challenged us to think critically about the complexities of global markets, M&A integration, and our outlook on the pool industry.
Although we did not win, we gained an incredible amount of insight and experience. Working under tight deadlines helped increase our ability to quickly build a comprehensive model and clearly communicate our view on the stock. The live Q&A sessions with company executives simulated the type of interactions analysts have with management teams and added a real-world dynamic to our learning experience.
Beyond technical takeaways, we also learned the importance of team cohesion and time management. Dividing and conquering tasks while aligning on a single narrative is of utmost importance in these competitions. Most importantly, we were inspired by the energy of the competition, the calibreer of the participating teams, and the opportunity to represent Waterloo on an intercollegiate stage.
As students at the School of Accounting and Finance, we can confidently say that taking part in case competitions has been one of the most rewarding parts of our experience. We had the opportunity to connect with students from universities across North America, a unique networking experience that extends beyond the case itself.
Each competition pushed us to grow, and the skills, confidence, and connections gained along the way are a step forward in our career paths. We’re sincerely grateful for this experience and look forward to applying the insights and skills in future competitions and throughout our careers.