Investment Banking Report Formatting Skill

This is an institutional-quality research and investment skill.

Comprehensive formatting for institutional-quality financial documents covering all 200+ Word formatting capabilities across 11 categories.

When to Use This Skill

Trigger on requests involving:

• "Format this table professionally"
• "Create an IB-style report / pitch book / CIM"
• "Format comps table / precedent transactions / DCF / football field"
• "Goldman/Morgan Stanley/JP Morgan style"
• "Add track changes / comments / watermark"
• "Create table of contents / cross-references"
• "SEC filing format / EDGAR compliance"
• "Fairness opinion / offering memorandum format"

Workflow Overview

1. Identify document type – Pitch book, CIM, fairness opinion, valuation report, offering memo
2. Set page layout – Orientation, margins, sections, columns, watermarks
3. Apply styles/themes – Document-wide consistency, heading hierarchy
4. Configure headers/footers – Different first page, odd/even, section-specific
5. Apply typography – Font hierarchy, character spacing, text effects
6. Format paragraphs – Spacing, indentation, tabs, pagination control
7. Format tables – Advanced borders, formulas, nested tables, header repeat
8. Style numbers – Decimals, currencies, multiples, conditional formatting
9. Add references – TOC, cross-references, footnotes, citations
10. Insert fields – Page numbers, dates, document properties, automation
11. Enable collaboration – Track changes, comments, document comparison
12. Output document – Generate .docx via docx-js

Document Types & Requirements

Category 1: Text Formatting (42 Properties)

Read: references/text-formatting.md

Font Properties

Character Spacing

Text Effects

Underline Styles (10 Types)

Highlight Colors (15 Options)

Category 2: Paragraph Formatting (38 Properties)

Read: references/paragraph-formatting.md

Alignment Types

Indentation

Line Spacing

Tab Stops (5 Types)

Tab Leaders (4 Types): None, Dots, Hyphens, Underline

Pagination Control

Paragraph Borders & Shading

new Paragraph({
  border: {
    top: { style: BorderStyle.SINGLE, size: 12, color: "1F3864" },
    bottom: { style: BorderStyle.SINGLE, size: 12, color: "1F3864" }
  },
  shading: { fill: "E8F1F8", type: ShadingType.CLEAR }
})

Drop Caps

Category 3: Table Formatting (47 Properties)

Read: references/table-formatting.md

Cell Properties

Row Properties

Border Styles (15+ Types)

Table Formulas (IB Critical)

// Sum column above
new TableCell({
  children: [new Paragraph({
    children: [new SimpleField({ instruction: "=SUM(ABOVE) \\# \"$#,##0.0\"" })]
  })]
})

// Available functions: SUM, AVERAGE, COUNT, MAX, MIN, PRODUCT
// Positional: ABOVE, BELOW, LEFT, RIGHT
// Cell references: =SUM(B2:B5), =A1*B1

Table Positioning

Nested Tables

new TableCell({
  children: [
    new Table({
      // Inner table definition
      rows: [/* nested rows */]
    })
  ]
})

IB Table Templates

Comparable Companies

| Company | Ticker | Mkt Cap | EV | Revenue | EBITDA | EV/Rev | EV/EBITDA |
| 22%     | 8%     | 12%     | 12%| 11%     | 11%    | 12%    | 12%       |

Precedent Transactions

| Date | Acquirer | Target | EV ($mm) | EV/Revenue | EV/EBITDA |
| 10%  | 20%      | 20%    | 15%      | 17.5%      | 17.5%     |

DCF Sensitivity (WACC vs Terminal Growth)

| WACC↓ \ TG→ | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
| 20%         | 16%  | 16%  | 16%  | 16%  | 16%  |

Sources & Uses

| Sources        | $mm  | %    |    | Uses           | $mm  | %    |
| 50%            | 25%  | 25%  |    | 50%            | 25%  | 25%  |

Football Field (Valuation Range)

| Methodology          | Low    | High   | Bar Representation |
| 30%                  | 15%    | 15%    | 40% (visual bar)   |

Category 4: Page Layout (31 Properties)

Read: references/page-setup.md

Page Size

Margins

Section Breaks (4 Types)

Columns

properties: {
  column: {
    count: 2,
    space: 720, // 0.5" between columns
    equalWidth: true,
    // Or custom widths:
    // children: [{ width: 4320, space: 720 }, { width: 4320 }]
  }
}

Line Numbers

properties: {
  lineNumbers: {
    countBy: 1,
    start: 1,
    restart: LineNumberRestartType.NEW_PAGE
  }
}

Watermarks

// Text watermark
new TextRun({
  text: "CONFIDENTIAL",
  font: "Arial",
  size: 144, // 72pt
  color: "D9D9D9",
  bold: true
})
// Position in header with rotation

Page Borders

properties: {
  pageBorders: {
    display: PageBorderDisplay.ALL_PAGES,
    offsetFrom: PageBorderOffsetFrom.PAGE,
    pageBorderTop: { style: BorderStyle.SINGLE, size: 24, color: "1F3864" },
    // ... other sides
  }
}

Category 5: Headers & Footers (18 Properties)

Read: references/headers-footers.md

Header/Footer Types

Section-Specific Headers

sections: [
  {
    properties: {
      titlePage: true, // Enable different first page
      evenAndOddHeaders: true // Enable odd/even
    },
    headers: {
      default: createHeader("Section 1"),
      first: new Header({ children: [] }), // Empty for first page
    }
  },
  {
    properties: {
      // Link to previous = false for new header
    },
    headers: {
      default: createHeader("Section 2")
    }
  }
]

IB Header Patterns

Pitch Book

[Logo]                    Project [Name]  |  Strictly Confidential

CIM

[Company Name]            Confidential Information Memorandum

Fairness Opinion

[Firm Letterhead]

IB Footer Patterns

Standard

                          Page X of Y

With Firm Name

[Firm Name]               Page X of Y                    [Date]

With Section

Section II – Valuation    Page X of Y

Page Number Formats

Category 6: Styles & Themes (35 Properties)

Read: references/styles-themes.md

Style Types

IB Heading Hierarchy

styles: {
  paragraphStyles: [
    {
      id: "Heading1",
      name: "Heading 1",
      basedOn: "Normal",
      next: "Normal",
      quickFormat: true,
      run: { font: "Arial", size: 28, bold: true, color: "1F3864" },
      paragraph: { spacing: { before: 480, after: 240 }, outlineLevel: 0 }
    },
    {
      id: "Heading2",
      name: "Heading 2",
      basedOn: "Normal",
      next: "Normal",
      run: { font: "Arial", size: 24, bold: true, color: "1F3864" },
      paragraph: { spacing: { before: 360, after: 180 }, outlineLevel: 1 }
    },
    {
      id: "Heading3",
      name: "Heading 3",
      basedOn: "Normal",
      next: "Normal",
      run: { font: "Arial", size: 22, bold: true, color: "000000" },
      paragraph: { spacing: { before: 240, after: 120 }, outlineLevel: 2 }
    }
  ]
}

Document Theme

theme: {
  colors: {
    dark1: "000000",
    light1: "FFFFFF",
    dark2: "1F3864",
    light2: "E8F1F8",
    accent1: "4472C4",
    accent2: "ED7D31",
    accent3: "A5A5A5",
    accent4: "FFC000",
    accent5: "5B9BD5",
    accent6: "70AD47"
  },
  fonts: {
    major: { latin: "Arial" },
    minor: { latin: "Arial" }
  }
}

Multilevel Lists (IB Numbering)

numbering: {
  config: [{
    reference: "legal-numbering",
    levels: [
      { level: 0, format: LevelFormat.DECIMAL, text: "%1.", alignment: AlignmentType.LEFT,
        style: { paragraph: { indent: { left: 720, hanging: 360 } } } },
      { level: 1, format: LevelFormat.LOWER_LETTER, text: "%2.", alignment: AlignmentType.LEFT,
        style: { paragraph: { indent: { left: 1080, hanging: 360 } } } },
      { level: 2, format: LevelFormat.LOWER_ROMAN, text: "%3.", alignment: AlignmentType.LEFT,
        style: { paragraph: { indent: { left: 1440, hanging: 360 } } } }
    ]
  }]
}

Category 7: Track Changes & Comments (22 Properties)

Read: references/track-changes.md

Track Changes

// Enable tracking
const doc = new Document({
  settings: {
    trackRevisions: true,
    revisionView: RevisionView.FINAL // or ORIGINAL, FINAL_MARKUP
  }
});

// Insert with revision
new InsertedTextRun({
  text: "new text",
  id: 1,
  author: "Analyst",
  date: "2026-01-17T10:00:00Z"
})

// Delete with revision
new DeletedTextRun({
  text: "old text",
  id: 2,
  author: "Analyst",
  date: "2026-01-17T10:00:00Z"
})

Comments

// Add comment
const commentId = "comment-1";
new CommentRangeStart({ id: commentId });
new TextRun({ text: "commented text" });
new CommentRangeEnd({ id: commentId });
new CommentReference({ id: commentId });

// Comment content in separate section
comments: {
  children: [
    new Comment({
      id: commentId,
      author: "Senior Analyst",
      date: new Date(),
      children: [new Paragraph({ children: [new TextRun("Please verify this figure")] })]
    })
  ]
}

Document Comparison

// Compare two documents (requires post-processing or VBA)
// docx-js creates documents; comparison done in Word or via OpenXML SDK

Category 8: References (41 Properties)

Read: references/references-toc.md

Table of Contents

new TableOfContents("Table of Contents", {
  hyperlink: true,
  headingStyleRange: "1-3",
  stylesWithLevels: [
    { styleName: "Heading1", level: 1 },
    { styleName: "Heading2", level: 2 },
    { styleName: "Heading3", level: 3 }
  ]
})

// TOC requires headings with outlineLevel set
// Update TOC in Word: Ctrl+A, F9

Cross-References

// Bookmark target
new Bookmark({
  id: "valuation-section",
  children: [new TextRun("Valuation Analysis")]
})

// Reference to bookmark
new InternalHyperlink({
  anchor: "valuation-section",
  children: [new TextRun({ text: "See Valuation Analysis", style: "Hyperlink" })]
})

Footnotes & Endnotes

new TextRun({ text: "revenue" });
new FootnoteReferenceRun({
  id: 1,
  style: FootnoteReferenceStyle.SUPERSCRIPT
});

// In document settings
footnotes: {
  1: {
    children: [
      new Paragraph({
        children: [new TextRun({ text: "Source: Company filings.", size: 16, italics: true })]
      })
    ]
  }
}

Citations & Bibliography

// For research reports and offering memoranda
// Requires custom implementation or XML manipulation
// Standard styles: APA, Chicago, Harvard

Index

// Mark index entry
new SimpleField({ instruction: 'XE "Investment Banking"' })

// Insert index
new SimpleField({ instruction: 'INDEX \\c "2" \\h "A"' })

Category 9: Fields & Automation (68 Field Types)

Read: references/fields-automation.md

Document Information Fields

Date/Time Fields

Page Number Fields

// Current page
new SimpleField({ instruction: "PAGE" })

// Total pages
new SimpleField({ instruction: "NUMPAGES" })

// Section pages
new SimpleField({ instruction: "SECTIONPAGES" })

// "Page X of Y"
children: [
  new TextRun({ text: "Page " }),
  new SimpleField({ instruction: "PAGE" }),
  new TextRun({ text: " of " }),
  new SimpleField({ instruction: "NUMPAGES" })
]

Calculated Fields

// Expression
new SimpleField({ instruction: "= 1234.5678 \\# \"$#,##0.00\"" })

// Reference calculation
new SimpleField({ instruction: "= revenue * 0.25 \\# \"$#,##0\"" })

Conditional Fields

// IF field
new SimpleField({
  instruction: 'IF { MERGEFIELD Status } = "Approved" "✓" "Pending"'
})

Sequence Fields (Auto-Numbering)

// Table numbering
new SimpleField({ instruction: "SEQ Table \\* ARABIC" })
// Result: 1, 2, 3...

// Figure numbering
new SimpleField({ instruction: "SEQ Figure \\* ARABIC" })

Category 10: Graphics (52 Properties)

Read: references/graphics.md

Images

new ImageRun({
  type: "png", // Required: png, jpg, jpeg, gif, bmp, svg
  data: fs.readFileSync("chart.png"),
  transformation: {
    width: convertInchesToTwip(6),
    height: convertInchesToTwip(4)
  },
  altText: {
    title: "Valuation Chart",
    description: "Football field chart showing valuation ranges",
    name: "ValuationChart"
  }
})

Drawing Positioning

new ImageRun({
  // ... image data
  floating: {
    horizontalPosition: {
      relative: HorizontalPositionRelativeFrom.PAGE,
      align: HorizontalPositionAlign.CENTER
    },
    verticalPosition: {
      relative: VerticalPositionRelativeFrom.PARAGRAPH,
      offset: 914400 // 1 inch in EMUs
    },
    wrap: {
      type: TextWrappingType.SQUARE,
      side: TextWrappingSide.BOTH_SIDES
    }
  }
})

Shapes & Lines

// Horizontal line
new Paragraph({
  border: {
    bottom: { style: BorderStyle.SINGLE, size: 24, color: "1F3864", space: 1 }
  }
})

Category 11: Advanced Features (28 Capabilities)

Read: references/advanced-features.md

Document Protection

const doc = new Document({
  settings: {
    protection: {
      type: ProtectionType.READ_ONLY,
      password: "optional-password"
    }
  }
})

Custom Document Properties

customProperties: {
  "Project Name": "Project Alpha",
  "Deal Value": "$500mm",
  "Client": "TechCo Inc.",
  "Confidentiality": "Strictly Confidential"
}

Content Controls (Form Fields)

// Plain text control
new PlainTextContentControl({
  children: [new Paragraph({ children: [new TextRun("[Enter value]")] })],
  title: "Revenue Input",
  tag: "revenue"
})

// Drop-down control
new DropDownListContentControl({
  children: [new Paragraph({ children: [new TextRun("Select...")] })],
  listItems: [
    { displayText: "Option A", value: "a" },
    { displayText: "Option B", value: "b" }
  ]
})

Compatibility Settings

settings: {
  compatibility: {
    doNotExpandShiftReturn: true,
    useSingleBorderForContiguousCells: true
  }
}

Firm-Specific Standards

Goldman Sachs

Morgan Stanley / JP Morgan

Financial Model Color Coding

SEC/EDGAR Compliance

Read: references/sec-compliance.md

Filing Requirements

Form-Specific

FINRA Rule 2241 (Research Reports)

• Disclosure on front page or clear reference
• Ownership > 1% disclosure
• Market making disclosure
• IB compensation (past 12 months, next 3 months)
• Rating distribution charts required

Implementation

Dependencies

npm install -g docx

Complete Import

const {
  Document, Packer, Paragraph, TextRun, Table, TableRow, TableCell,
  Header, Footer, PageNumber, HeadingLevel,
  WidthType, BorderStyle, ShadingType, AlignmentType, VerticalAlign,
  TableOfContents, Bookmark, InternalHyperlink, ExternalHyperlink,
  FootnoteReferenceRun, SimpleField,
  ImageRun, PageBreak, SectionType, Tab, TabStopType, TabStopPosition,
  LevelFormat, NumberFormat, LineRuleType, HeightRule,
  Comment, CommentRangeStart, CommentRangeEnd, CommentReference,
  InsertedTextRun, DeletedTextRun
} = require('docx');
const fs = require('fs');

Critical Rules

1. Always set page size explicitly – Default is A4, not US Letter
2. Set both columnWidths AND cell width – Both required for tables
3. Use ShadingType.CLEAR – Never SOLID (causes black backgrounds)
4. Use LevelFormat.BULLET – Never unicode bullets directly
5. Never use \n – Create separate Paragraph elements
6. Set outlineLevel for TOC – Required for heading detection
7. Use half-points for font size – size: 20 = 10pt
8. Match tableHeader: true on header rows – For multi-page repeat

References

See references/ folder:

• text-formatting.md – Character properties, effects, underlines
• paragraph-formatting.md – Spacing, tabs, pagination, borders
• table-formatting.md – Advanced tables, formulas, nested tables
• page-setup.md – Sections, columns, watermarks, page borders
• headers-footers.md – Multi-section, odd/even, page numbers
• styles-themes.md – Document themes, multilevel lists
• track-changes.md – Revisions, comments, comparison
• references-toc.md – TOC, cross-references, footnotes, citations
• fields-automation.md – 68 field types, switches, calculations
• graphics.md – Images, positioning, shapes
• advanced-features.md – Protection, content controls, compatibility
• sec-compliance.md – EDGAR requirements, form specifications
• firm-standards.md – Goldman, Morgan Stanley, JP Morgan conventions
• templates.js – Complete code templates
• color-palette.md – Full color specifications