Financial statements
Income statement, balance sheet, and cash flow statement. This is the league's starting point today.
Inside the league's work.
From financial statements to defending an investment thesis. Belavista Finance learns by doing, in small teams that share a common foundation and analyze real companies.
How the teams work
Each team has four or five members and a lead who coordinates its deliverables. Everyone studies the same subjects; there are no separate specialist tracks yet. For each case, members divide the research, challenge assumptions, and prepare a joint presentation.
A foundation before specialization.
Financial analysis
Margins, returns, debt, and liquidity to understand a business beyond its revenue.
Valuation
Model scenarios, test assumptions, and discuss what a company may be worth and why.
First case · presentation scheduled for 16 Oct 2026
Smart Fit: a real company, real questions.
The teams are analyzing Smart Fit (SMFT3) using public investor relations documents. Their work covers the fitness industry, competitors, risks, financial statements, and key metrics. Each group will present its conclusions in a 20-minute pitch followed by questions from a panel. The presentation is scheduled; results and materials have not been approved for publication.
What has happened so far
The start
Fernando Ikeda's opening talk and the decision to form a student league.
Learning together
The first teams were formed and Ikeda taught the income statement, balance sheet, and cash flow statement.
Classes and connections
A credit analysis class with Octavio Rodrigues and conversations with leaders of other leagues.
Belavista Congress
The league introduced itself during the student initiatives session at the 1st Belavista Congress.
Cases are educational activities of the league and do not constitute investment advice.