> ## Documentation Index
> Fetch the complete documentation index at: https://valuation-101.com/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# FCFF Orchestrator

> Orchestrate the complete end-to-end FCFF intrinsic valuation — from company name to value per share.

## What it does

The orchestrator skill that runs the full valuation pipeline. It coordinates all other skills in the correct order, passing outputs between them.

## Execution flow

1. [company-identifier](/docs/skills/company-identifier) — resolve the company
2. [identify-required-statements](/docs/skills/identify-required-statements) — determine needed filings
3. [pull-raw-data](/docs/skills/pull-raw-data) — fetch XBRL data
4. [parse-raw-data-to-filings](/docs/skills/parse-raw-data-to-filings) — extract per-filing data
5. [last-twelve-months](/docs/skills/last-twelve-months) — compute LTM financials
6. [last-10-k](/docs/skills/last-10-k) — extract annual comparison data
7. [r-and-d-converter](/docs/skills/r-and-d-converter) — capitalize R\&D (if applicable)
8. [lease-converter](/docs/skills/lease-converter) — convert leases (if applicable)
9. [cost-of-capital](/docs/skills/cost-of-capital) — compute WACC
10. [earnings-guidance](/docs/skills/earnings-guidance) — extract management guidance from latest earnings call
11. [growth-and-profitability](/docs/skills/growth-and-profitability) — set 4 forecast variables with convergence curves
12. [fcff-model](/docs/skills/fcff-model) — run the DCF
13. [employee-options](/docs/skills/employee-options) — value options (if applicable)
14. [failure-rate](/docs/skills/failure-rate) — adjust for distress
15. [diagnostics](/docs/skills/diagnostics) — sanity check

## Mode behavior

| Mode          | Conversation style                  | User decisions              | Time      |
| ------------- | ----------------------------------- | --------------------------- | --------- |
| Expert        | Data + options, minimal explanation | Every assumption            | 10–15 min |
| Novice        | Full explanations at each step      | Guided with recommendations | 15–20 min |
| Feeling Lucky | Silent execution with defaults      | None (review after)         | \~60 sec  |