> For the complete documentation index, see [llms.txt](https://help.modelreef.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://help.modelreef.io/syntax/scenario-syntax/viewing-scenario-differences.md).

# Viewing Scenario Differences

This article explains how to **view scenario differences** in Model Reef.

You will learn:

* How to compare separate scenario models.
* Which outputs are most useful for understanding differences.
* How to connect differences back to variables and drivers.

Because scenarios are separate models, you compare them by comparing their outputs side by side.

{% stepper %}
{% step %}

### Comparing scenarios through dashboards and reports

To compare scenarios:

* Open the **Base** scenario model and view its dashboards and key reports.
* Open the **Upside** or **Downside** scenario model in another tab or window.
* Align the period selection and branch filters across models.
* Compare P\&L, Balance Sheet, Cashflow, Cash Waterfall and valuation outputs.

Structurally identical dashboards and reports make differences easy to see.
{% endstep %}

{% step %}

### Maintaining consistent structure across scenarios

Scenario comparison works best when each scenario model shares:

* The same branch hierarchy.
* The same variable naming and categories.
* The same dashboard and report layouts.

When cloning a base model to create new scenarios, keep this structure intact so that line-by-line comparisons make sense.
{% endstep %}

{% step %}

### Key comparison views

Useful scenario comparison views include:

* Revenue, Gross Profit and EBITDA paths over time.
* Cash position, funding headroom and covenant metrics.
* Net debt and leverage.
* Free cashflow, valuation metrics and returns.
* Branch or division level profitability.

For each view, check both level differences (how big) and timing differences (when).
{% endstep %}

{% step %}

### Linking differences back to assumptions

To understand why scenarios differ:

* Identify the largest differences in key metrics or charts.
* Use drilldown to see which variables and categories drive those lines.
* Inspect the corresponding variables or drivers in each scenario model.
* Review notes and tags on variables and drivers that were intentionally overridden.

Often a small set of assumption changes explains most of the difference between scenarios.
{% endstep %}

{% step %}

### Communicating scenario differences

When communicating to stakeholders:

* Name scenarios clearly (Base, Downside, Upside, Stress).
* Summarise the main assumption changes, not every small adjustment.
* Focus on differences in cash, risk and value rather than every line item.
* Support headline comparisons with drilldown where necessary.

Model Reef provides the structural consistency so that differences you discuss are driven by assumptions rather than presentation.
{% endstep %}
{% endstepper %}

***

## Related articles

* [Scenario Selector](/syntax/understanding-the-interface/scenario-selector.md)
* [Scenario Syntax](/syntax/scenario-syntax.md)
* [Differences vs Ticker Fundamentals Import](/help/importing-from-google-finance-and-yahoo-apis/differences-vs-ticker-fundamentals-import.md)
* [Valuation](/how-tos/valuation.md)


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://help.modelreef.io/syntax/scenario-syntax/viewing-scenario-differences.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.