Agent Skills: financial-statement-normalization

Converts reported financial statements into valuation-ready numbers — capitalizes R&D into a research asset, capitalizes operating leases into debt, strips one-time items, normalizes cyclical or trough earnings, derives FCFF and FCFE, and computes invested capital, ROIC, economic value added and the diagnostic ratio pack. Use when cleaning up EBIT before a DCF, capitalizing research or leases, deciding whether a restructuring charge is really non-recurring, computing free cash flow to the firm or to equity, measuring return on invested capital, normalizing earnings for a cyclical or commodity company, or building the base-year operating income and capital base that a valuation model consumes.