skills/three-statement-model-builder/references/industry-playbooks.md

# Industry Playbooks

Use industry context to select drivers and caveats, not to override source evidence.

SaaS: ARR, NRR, churn, seats, ARPA, billings, deferred revenue, CAC payback, sales efficiency, hosting cost, and SBC. Marketplace/platform: GMV, take rate, cohorts, incentives, fraud, payment costs, and working capital.

Retail/ecommerce: units, comps, traffic, ticket, returns, inventory turns, leases, fulfillment, and working capital. Manufacturing/industrials: volume, price/cost, utilization, backlog, inventory, maintenance/growth capex, and cyclicality.

Services: headcount, utilization, bill rates, contractor mix, collections, and DSO. Healthcare/biotech: volume, reimbursement, payer mix, labor, R&D, milestones, and regulatory timing.

Real estate/project finance and financial institutions often need specialized schedules; state when the bundled model is only a directional operating shell. Turnaround cases need liquidity, covenant, cash burn, restructuring costs, and refinancing caveats.