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Financial Modeling

Build a Complete DCF Valuation Model

365 Careers

Would you like to learn how to value a company?

Even people who don't have a Finance degree can take this course and learn how to build a complete Discounted Cash Flow Model.  

Read more

Would you like to learn how to value a company?

Even people who don't have a Finance degree can take this course and learn how to build a complete Discounted Cash Flow Model.  

Attention. You will have to go through the videos and the course materials in order to obtain the promised result.  

If you want to:

  • Improve your Microsoft Excel modeling skills

  • Learn how to value a company

  • Understand what drives a company's value

Then this is the right course for you.

What we offer:

  • Well designed and easy to understand materials

  • Detailed and comprehensible explanations

  • Regular course updates

By the completion of this course you will:

  • Be able to build a cash flow statement

  • Know how to value a company

  • Be able to build a valuation model from scratch

  • Know how to create a model with multiple scenarios

  • Be able to perform sensitivity analysis

  • Know how to create professional and good-looking advanced charts

The instructor of this course has extensive experience in Financial Modeling:

  • Worked in the Financial advisory unit of a top-tier consulting firm

  • Experience in M&A transactions carried out in Italy, Germany, Switzerland and Poland

  • Worked in the in-house Mergers & Acquisitions department of one of the largest semiconductor firms in the world

  • Financial advisor in multiple M&A deals with sizes ranging from €2 million up to €5 billion

About the course:

  • An unconditional Udemy 30 day money-back guarantee – because we believe in the quality of our content

  • No significant previous experience is needed to understand the course well and benefit fully from its content

  • Unlimited lifetime access to all course materials

  • Emphasis on learning by doing

  • You can always contact us for any clarification free of charge

  • Our goal is to take your Valuation skills to the next level

Make an investment that will pay for itself in terms of career perspectives, positive feedback and personal growth. 

Just go ahead and subscribe to this course. Nowadays the job market has become very competitive. If you don't acquire these skills now you will miss an opportunity to separate yourself from others. Don't risk your future success.  

Let's start learning together now.  

Enroll now

What's inside

Learning objectives

  • Be able to build a cash flow statement
  • Know how to value a company
  • Be able to build a valuation model from scratch
  • Know how to create a model with multiple scenarios
  • Be able to perform sensitivity analysis
  • Know how to create professional and good-looking advanced charts

Syllabus

Introduction to Company Valuation
Why value a company?
Company valuation - Theoretical framework
The investor's perspective
Read more
What drives a firm's value?
The technical tools you need when valuing a company
Calculating Unlevered free cash flows
Using an appropriate discount factor
Estimating cost of debt
Estimating cost of equity
Forecasting future cash flows
Caclulating Terminal value
Discounting future cash flows
Calculating Enterprise and Equity value of the firm
Learn how to build a Discounted Cash Flow model in Excel - Introduction
Learning by doing - Learn how to value a company - Case study introduction
A quick summary of the various stages of a complete DCF valuation
Let's go through the structure of the DCF model we will create in Excel
A glimpse at the company we are valuing - Cheeseco
Forecasting of key P&L items
Modeling the top line of the financial model
This is how you can build flexible financial models in Excel
Modeling other items: Other revenues and Cogs
Modeling other items: Operating expenses and D&A
Modeling other items: Interest expenses, Extraordinary Items and Taxes
Forecasting of key Balance Sheet items
How to forecast balance sheet items - The practical and easy to understand way
A key concept for finance practitioners - the "Days" methodology
Learn how to calculate "Days"
How to use "Days" in order to project the future development of some BS items
Forecasting Property, plant & equipment, Other assets and Other liabilities
Creating clean output sheets
Excel best practices! Create a good-looking and clean output sheet in your model
Applying what we learned in practice - Populating the P&L sheet
This is how you can create a clean output Balance Sheet in your financial model
Completing the Output BS Sheet For the Historical Period
Learn how to calculate Unlevered Free Cash Flows and Net Cash Flows
Learn how to calculate unlevered free cash flows
Important! Reconcile UFCF to Net Cash flow
A very useful lesson! Learn how to calculate cash flows
Arriving to actual net cash flow figures and performing a check with cash
The fast and effective way to modify multiple cell references in Excel
Calculating present value of cash flows within the forecast period
Introducing weighted average cost of capital and perpetuity growth rate
Learn how to find the present value of future cash flows in financial models
Calculating continuing value, enterprise value and equity value of the business
Calculating continuing value and enterprise value of the business
Final steps! Calculate equity value of the business under consideration
Additional analyses accompanying the financial model
Excel tools in practice - sensitivity analysis for WACC and perpetuity growth
Excel tools in practice - An application of Goal Seek
Recap of the financial model with charts and hypothesis testing
Congratulations! You made it!
Introduction to Mergers & Acquisitions
Valuation of Tesla
Organizing external inputs in a 'Drivers' sheet
The input data we will work with
Forecasting Tesla's expected deliveries
Comparing delivery figures with the ones of industry peers
Estimating an average selling price of Tesla vehicles
Calculating automotive revenue
Peer comparison: Gross profit %
Calculating automotive gross profit
Calculating automotive cost of sales
Forecasting 'energy' and 'services' revenue
Calculating 'energy' and 'services' gross profit and cost of sales
Forecasting operating expenses
Building a fixed asset roll forward: estimating Capex
Building a fixed asset roll forward: D&A schedule
Peer comparison: D&A as a percentage of revenues
Calculating DSO, DIO, DPO
Producing a clean P&L output sheet
Fill in the P&L output sheet
Calculating investments in working capital
Forecasting unlevered free cash flow
Forecasting other assets
Forecasting other liabilities
Completing unlevered free cash flow
Modeling Tesla's financing needs in the forecast period
Calculating net income
Bridging unlevered free cash flow to net cash flow
Balancing the Balance sheet
Estimating Weighted average cost of capital (WACC)
Performing discounted cash flow valuation (DCF)
Calculating enterprise value, equity value, and price per share
Final comments
Multiples valuation
What are valuation multiples and why we use them?
What types of valuation multiples are there?
Trading vs transaction valuation multiples
Main principles of multiples valuation
Comparison of earnings multiples (P/E vs EV/EBITDA)
Introduction to the exercise
High-level assessment of peer companies
Assessment of P&L data - comparable companies
How to adjust EBIT - theoretical framework
How to adjust EV - theoretical framework
How to adjust EBIT - practical example - Volkswagen
How to adjust EV - practical example - Volkswagen
Conclusion of the practical exercise

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Acquaints learners with practical Excel modeling skills, valuable in various industries
Led by an instructor with substantial financial modeling experience enhances credibility
Emphasizes learning through hands-on practice, promoting deeper understanding
Provides lifetime access to course materials, allowing for ongoing learning and reference
Utilizes a step-by-step approach that supports learners of varying levels
Taught in an engaging style with clear explanations enhances comprehension

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Reviews summary

Productive financial modeling course

Learners say this is an outstanding, productive course that explains concepts in detail. Though not mentioned in the provided review, users also report sensitivity analysis and how to calculate WACC and enterprise value.
Concepts include forecasting, valuation, and sensitivity analysis.
"This course has given me a lot of value by explaining in detail every single concept like Forecasting, Valuation, Sensitivity Analysis, WACC, Enterprise Value."
Concepts are explained in detail.
"Outstanding and a very Productive course."
"This course has given me a lot of value by explaining in detail every single concept like Forecasting, Valuation, Sensitivity Analysis, WACC, Enterprise Value."

Career center

Learners who complete Financial Modeling: Build a Complete DCF Valuation Model will develop knowledge and skills that may be useful to these careers:
Financial Analyst
This course on financial modeling will help you be successful as a Financial Analyst by teaching you the fundamentals of how to construct a DCF model, which is a common tool used in the industry to value companies. The skills you will gain from this course will help you to perform due diligence and make better investment decisions.
Investment Banker
This course on financial modeling is highly relevant to the field of investment banking. As an Investment Banker, one of your key responsibilities will be to build DCF models for various purposes, such as advising companies on mergers and acquisitions or helping them raise capital. This course will teach you the ins and outs of DCF modeling, and you will be able to apply your skills directly to your work as an Investment Banker.
Private Equity Associate
As a Private Equity Associate, you will need to be able to build DCF models in order to evaluate potential investment opportunities. This course will provide you with the skills you need to build accurate and reliable DCF models, which will help you to make better investment decisions.
Corporate Development Analyst
A Corporate Development Analyst is responsible for evaluating potential mergers and acquisitions, and this course on financial modeling will provide you with the skills you need to do this effectively. You will learn how to build DCF models to value companies, and you will also learn how to analyze financial statements and other data to assess the financial health of a company.
Management Consultant
As a Management Consultant, you will need to be able to build financial models to help your clients make better business decisions. This course on financial modeling will teach you the basics of financial modeling, and you will learn how to build models that are tailored to your clients' specific needs.
Equity Research Analyst
This course will be useful to Equity Research Analysts, as it will help them to better understand the companies they are covering and to make more accurate recommendations to their clients. By learning how to build DCF models, you will be able to get a better sense of a company's financial health and its future prospects.
Financial Planning Analyst
As a Financial Planning Analyst, you will need to be able to build financial models to help your clients plan for their financial future. This course on financial modeling will give you the skills you need to build models that are tailored to your clients' specific needs and goals.
Commercial Banker
This course may be helpful to Commercial Bankers, as it will provide them with a better understanding of how to analyze the financial health of a company. This knowledge can be useful when making lending decisions and providing financial advice to clients.
Credit Analyst
This course may be helpful to Credit Analysts, as it will provide them with a better understanding of how to analyze the financial health of a company. This knowledge can be useful when assessing the creditworthiness of a company and making lending decisions.
Actuary
Actuaries use financial models to assess risk and uncertainty. This course may be helpful to Actuaries, as it will provide them with a better understanding of the principles of financial modeling. This knowledge can be useful when developing and using financial models to assess risk and uncertainty.
Data Analyst
This course may be helpful to Data Analysts, as it will provide them with a better understanding of the principles of financial modeling. This knowledge can be useful when working with financial data and developing data-driven insights.
Business Analyst
This course may be helpful to Business Analysts, as it will provide them with a better understanding of the principles of financial modeling. This knowledge can be useful when analyzing business data and developing recommendations for improving business performance.
Consultant
This course may be helpful to Consultants, as it will provide them with a better understanding of the principles of financial modeling. This knowledge can be useful when working with clients on financial projects and developing recommendations for improving financial performance.
Accountant
This course may be helpful to Accountants, as it will provide them with a better understanding of the principles of financial modeling. This knowledge can be useful when preparing financial statements and performing financial audits.
Auditor
This course may be helpful to Auditors, as it will provide them with a better understanding of the principles of financial modeling. This knowledge can be useful when performing financial audits and assessing the accuracy of financial statements.

Reading list

We've selected 14 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Financial Modeling: Build a Complete DCF Valuation Model.
This widely recognized textbook provides a comprehensive overview of valuation principles and techniques. It covers both theoretical frameworks and practical applications, making it a valuable reference for the course.
Comprehensively covers financial modeling and valuation techniques, providing practical guidance for investment banking and private equity professionals. It could supplement the course by providing additional depth and real-world examples.
This textbook provides a practical approach to financial valuation, covering a wide range of valuation methods and applications. It could serve as a valuable reference for learners seeking to broaden their knowledge of valuation techniques beyond DCF.
This comprehensive textbook covers the fundamental principles of corporate finance, including valuation, capital budgeting, and financial risk management. It could provide additional theoretical background and context for the practical aspects discussed in the course.
Another classic text in the field of investing, this book provides a comprehensive and detailed guide to security analysis. It covers both fundamental and technical analysis techniques, which could provide learners with a broader understanding of the factors influencing company valuation.
As the course heavily utilizes Microsoft Excel for financial modeling, this book would provide a useful reference for enhancing Excel skills and techniques. It covers advanced functions, data analysis, and visualization techniques.
This classic text by Benjamin Graham is considered a foundational work in value investing. It provides insights into the principles and strategies of long-term value-oriented investing, which could complement the course's focus on company valuation.
This comprehensive textbook covers both investment analysis and portfolio management. It provides a solid foundation in the principles and practices of investment decision-making and portfolio construction.
Provides an advanced treatment of valuation and risk modeling techniques used in corporate finance. It covers complex topics such as option pricing, Monte Carlo simulation, and credit risk analysis, which could be of interest to learners seeking a deeper understanding of these areas.
This practical guide teaches the skills and techniques of financial modeling using Excel. It provides step-by-step instructions and case studies, which could serve as a valuable supplement to the course's focus on building financial models in Excel.
This concise and accessible guide summarizes the key principles and techniques of value investing. It could serve as a useful introduction to the subject for learners seeking to gain a foundational understanding.
This introductory textbook provides a solid foundation in financial analysis concepts and techniques. It could serve as a valuable supplement for learners seeking to strengthen their understanding of the basics covered in the course.

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