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Financial & Valuation Modeling Certification Program
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* 45h 60m
* 103,349 Students
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to train their professionals. Learn 3-Statement Modeling, DCF, Trading and
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LEARN THE CORE FINANCIAL & VALUATION MODELING SKILL SET
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* For students and professionals pursuing a career in investment banking,
private equity, corporate finance or equity research.
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practices.
* Learn financial statement modeling, DCF, Comps, M&A and LBO modeling.
* The exact same training program used by leading financial institutions.
THIS COURSE IS USED TO TRAIN NEW HIRES AT:
WHAT'S INCLUDED
82 Lessons
10h 29m
FINANCIAL STATEMENT MODELING
82 Lessons 10h 29m
In this course, you will develop a 3-statement model completely from scratch,
inputting historical data and assumptions to project out financial statements
using step-by-step instruction on selecting, locating and developing appropriate
projection drivers. At completion, you will have developed a complete and
comprehensive three-statement model usi ...
In this course, you will develop a 3-statement model completely from scratch,
inputting historical data and assumptions to project out financial statements
using step-by-step instruction on selecting, ...
In this course, you will develop a 3-statement model completely from scratch,
inputting historical d ...
1
View Course TOC
Course TOC
Financial Statement Modeling
In this course, you will develop a 3-statement model completely from scratch,
inputting historical data and assumptions to project out financial statements
using step-by-step instruction on selecting, locating and developing appropriate
projection drivers. At completion, you will have developed a co ... In this
course, you will develop a 3-statement model completely from scratch, inputting
historical data and assumptions to project out financial statements using
step-by-step instruction on selecting, locating and developing appropriate
projection drivers. At completion, you will have developed a complete and
comprehensive three-statement model using various supporting schedules. This
course lays the foundation of Wall Street Prep's Financial and Valuation
Modeling Certification Program as well as other industry-specific financial
modeling programs. More Less
Financial Statement Modeling Overview
1. Financial Statement Modeling Welcome 3:00
2. Course Downloads Files
3. Financial Statement Modeling Course Roadmap 7:53
4. Excel Settings for Modeling 3:28
5. Excel For Mac Quick Setup 8:08
6. Keyboard Shortcuts 10:36
7. Excel Productivity Add-ins 18:35
Financial Modeling Best Practices
8. Formatting Conventions 9:17
9. Modeling Best Practices 15:38
10. Naming, Linking & Deleting Cells 9:48
11. Model Structure 9:06
Preparing for Our Case Study
12. Gathering Documents for Modeling (the "PIB") 8:49
13. Introducing Our Case Study 1:11
14. Locating Relevant Filings, Part 1 5:49
15. Locating Relevant Filings, Part 2 4:32
16. Modeling Roadmap, Part 1 4:29
17. Modeling Roadmap, Part 2 3:51
Inputting Historical Financial Data
18. A 30,000ft View of Our Model 3:57
19. Modeling Historical Data 2:25
20. Step 1 Inputting Historicals 7:46
21. Step 1 Solution Income Statement 15:16
22. Step 1 Solution Balance Sheet 17:04
23. Step 1 Solution Historical CF and Other 7:16
Forecasting the Income Statement
24. Forecasting the Income Statement 10:09
25. Step 2 Forecasting the Income Statement 12:42
26. Reading: Guide to Forecasting the Income Statement Reading
Forecasting the Balance Sheet
27. Guide to Balance Sheet Projections Reading
28. Balance Sheet Forecast Concepts 2:05
29. Working Capital Concept Checker Exercise 9:07
30. Working Capital Concept Checker Solution 5:18
31. Other Assets and Liabilities 3:41
32. Forecasting Balance Sheet Intro 2:09
33. B/S Forecasting - Current Assets 9:06
34. B/S Foecasting - CL and LT Debt 5:54
35. B/S Forecasting - Other Non-Current Liabilities 5:30
36. B/S Forecasting - Equity 4:55
Cash Flow Statement
37. Cash Flow Statement Introduction 2:32
38. Review: The Cash Flow Statement 11:59
39. Cash From Operations 13:08
40. Cash From Investing & Other Financing Activities 7:19
41. Cash Flow Statement Forecasting 9:47
42. Forecasting CFI and CFF 3:46
43. Review of What We've Done to This Point 5:56
Balance Sheet Schedules
44. Roll Forward Concept 2:12
45. PP&E Roll Forward Concept 2:08
46. Retained Earnings Roll Forward Concepts 1:36
47. Balance Sheet Schedules 1:13
48. Modeling PP&E 13:22
49. Inputing Total D and A 6:07
50. Sanity Checking Model vs.Consensus 2:14
51. Other Non-Current Assets 4:42
52. An Alternative Approach 1:47
53. Modeling Retained Earnings 5:02
54. A More Robust Dividends Forecast 6:11
Revolver; Cash and Circularity
55. Understanding the Role of the Revolver in Financial Models 11:49
56. The Revolver as a Model Plug 5:42
57. Modeling the Revolver 11:09
58. Forecasting Interest Expense 11:12
59. Forecasting Interest Income 5:54
60. Circularity in Financial Models 23:02
Sensitivity Tables and Scenario Analysis
61. Sensitivity Analysis with Data Tables 15:03
62. Scenario Analysis Excercise 7:57
63. Scenario Analysis Solution 14:03
Modeling Earnings Per Share
64. EPS 11:50
65. Forecasting EPS 21:32
Balancing a Model
66. Balancing the Model Exercise 4:57
67. Balancing the Model Solutions 29:25
Segment Level Revenue Build (PV Analysis)
68. Revenue Build 5:24
69. Price x Volume Exercise 1 2:06
70. Price x Volume Exercise 1 Solution 4:41
71. Price x Volume Exercise 2 4:50
72. Price x Volume Exercise 2 Solution 14:20
73. PV Build Exercise 3 3:52
74. PV Build Exercise 3 Solution 8:18
CAGR
75. CAGR (Compound Annual Growth Rate) 3:08
Digging Deeper on Working Capital
76. Working Capital Schedules 2:02
77. Accounts Receivable Roll Forward 9:05
78. Inventory Roll Forward 7:57
79. Working Capital and Liquidity Analysis 10:08
Depreciation Waterfall
80. Depreciation Waterfall Introduction 17:22
81. Forecasting Depreciation Using a Waterfall 3:22
Updating an Existing Model for More Recent Results
82. Updating an Existing Model 8:54
66 Lessons
6h 16m
DCF MODELING
66 Lessons 6h 16m
Building on the knowledge gained from the financial statement modeling
course, you will be introduced to valuation analysis in general, and the DCF
model in particular. We will continue to use Apple as the case study, and teach
you how to value the company step-by-step. Along the way, you will learn how to
estimate the weighted average cost of capi ...
Building on the knowledge gained from the financial statement modeling
course, you will be introduced to valuation analysis in general, and the DCF
model in particular. We will continue to use Apple a ...
Building on the knowledge gained from the financial statement modeling
course, you will be introduce ...
2
View Course TOC
Course TOC
DCF Modeling
Building on the knowledge gained from the financial statement modeling
course, you will be introduced to valuation analysis in general, and the DCF
model in particular. We will continue to use Apple as the case study, and teach
you how to value the company step-by-step. Along the way, you will learn ...
Building on the knowledge gained from the financial statement modeling
course, you will be introduced to valuation analysis in general, and the DCF
model in particular. We will continue to use Apple as the case study, and teach
you how to value the company step-by-step. Along the way, you will learn how to
estimate the weighted average cost of capital (WACC) in the real world, how to
implement commonly used approaches to calculating terminal value, and all
the nuances of DCF modeling. Finally, we will use data tables to analyze a broad
range of scenarios given different assumptions. More Less
DCF Overview
1. DCF Modeling Course Welcome 4:38
2. Course Downloads Files
3. Introduction 4:38
4. Enterprise Value vs. Equity Value 6:56
5. Book Value vs. Market Value 2:51
6. Cash Flow vs. Relative Valuation 1:46
DCF Mechanics
7. DCF Overview 9:17
8. The 2 Stage DCF Approach 6:25
9. DCF vs. Comps in the Real World, Part 1 9:10
10. DCF vs. Comps in the Real World, Part 2 3:18
11. Unlevered vs. Levered DCF Approach 12:09
12. Unlevered vs. Levered Concept Check 2:46
13. DCF Implementation 5:42
Building the Core DCF Model
14. DCF Modeling Integrated vs Standalone 2:29
15. DCF Model Sections Preview 1:28
16. Date and General Model inputs 4:33
17. Inputting Historical UFCFs 2:44
18. Estimating Unlevered Taxes 6:06
19. From Historical NOPAT to UFCF 4:03
20. Forecasting Unlevered Free Cash Flows 2:31
21. UFCF Forecasting Mechanics 6:33
22. Forecasting Working Capital 2:34
23. Discounting Unlevered Free Cash Flows 5:15
24. Stub Year Fraction 3:02
25. Terminal Value - Perpetuity Method 5:49
26. TV as percent of total and implied multiple 2:13
27. Exit Multiple Concepts 4:24
28. Terminal Value - Exit Multiple Approach 3:17
29. Calculating the Implied Growth Rate 7:48
30. Before We Continue Model Review So Far 3:40
31. Understanding Net Debt 13:47
32. Modeling Net Debt 7:38
33. From enterprise value to Equity value 5:36
34. Shares Outstanding Overview 11:08
35. Restricted Stock or RSUs in the Share Count 5:23
36. Modeling Basic Shares Outstanding and RSUs 5:39
37. Calculating Valuation Multiples 2:43
Presenting the DCF Output
38. Model Output DCF Sensitivity Tables 10:57
39. Model Presentation and Football Field 5:59
Mid-Year Convention
40. Modeling the Midyear Convention 6:28
41. Adding a Midyear Convention Toggle 3:35
42. Midyear Adjustment Impact on TV 1:18
Stock Options, Convertibles, Dual Classes and Splits
43. Stock Options in the Share Count 14:38
44. Stock Splits and Dual Classes 3:16
45. Convertible Securities Share Impact 2:50
46. If-Converted Method 5:29
47. Convertible Debt - Tesla Example 4:01
48. Convertible Preferred Terminology 1:19
49. Modeling Stock Options 7:03
50. Modeling Convertible Debt 6:58
51. Modeling Convertible Preferred Stock 3:10
Weighted Average Cost of Capital
52. WACC Concepts, Part 1 12:14
53. WACC Concepts, Part 2 5:53
54. WACC Concepts, Part 3 5:13
55. WACC Concepts, Part 4 6:49
56. Modeling WACC Cost of Equity and Debt 10:04
57. Modeling WACC Capital Weights 4:37
Connecting the DCF to a 3 Statement Model
58. Connecting the DCF to 3 Statement Model 10:48
59. Calculating LTM Data 4:41
Additional DCF Considerations
60. Industry Beta Concepts 9:12
61. Industry Beta Exercise 3:32
62. Negative Net Debt 7:37
63. Normalizing Terminal Year Free Cash Flows 5:44
64. Value Drivers 16:55
DCF Appendix
65. Finding Cost of Debt on Bloomberg 3:34
66. Finding Beta on Bloomberg 1:21
38 Lessons
5h 54m
M&A MODELING
38 Lessons 5h 54m
In this course, you will learn how investment banking and corporate finance
professionals model mergers and acquisitions. We’ll start with a review of the
current M&A landscape, and key M&A concepts like accretion / dilution, pricing
structures (exchange ratios/collars/”walk-away” rights), acquisition accounting,
and the step-by-step alloca ...
In this course, you will learn how investment banking and corporate finance
professionals model mergers and acquisitions. We’ll start with a review of the
current M&A landscape, and key M&A co ...
In this course, you will learn how investment banking and corporate finance
professionals model merg ...
3
View Course TOC
Course TOC
M&A Modeling
In this course, you will learn how investment banking and corporate finance
professionals model mergers and acquisitions. We’ll start with a review of the
current M&A landscape, and key M&A concepts like accretion / dilution, pricing
structures (exchange ratios/collars/”walk-away” rights), a ... In this course,
you will learn how investment banking and corporate finance professionals model
mergers and acquisitions. We’ll start with a review of the current M&A
landscape, and key M&A concepts like accretion / dilution, pricing structures
(exchange ratios/collars/”walk-away” rights), acquisition accounting, and the
step-by-step allocation of purchase price. We will then transition to the role
of the investment banker in M&A. First by looking at real pitchbooks, OMs, and
fairness opinions, and then, using Apple and Disney as our case studies, you
will build a pull-no-punches M&A model that analyzes such a merger, correctly
incorporating pro forma balance sheet and income statement adjustments. More
Less
Chapter 1: Overview
1. Introduction 0:56
2. Course Downloads Files
3. The Role of the Banker in M&A 6:34
4. Buy Side Process 4:44
5. Sell Side Process 7:12
6. Sample Pitchbooks, Fairness Opinions and OMs 1:01
7. The Current M&A Environment 12:28
Chapter 2: Accretion/Dilution Analysis
8. Overview 5:39
9. Simple Accretion/Dilution Exercise 9:13
10. Income Statement Adjustments in M&A 11:56
11. Intermediate Accretion/Dilution Cocktail Exercise 22:25
Chapter 3: Purchase Price Allocation and M&A Accounting
12. M&A Accounting Overview 11:12
13. Assets sales/338 Election vs. Stock Sales & DTA/DTLs 12:58
14. Deferred Tax Exercise 11:53
15. Rule of Thumb for DTLs 1:35
16. Pre-Deal DTAs, DTLs, NOLs and Summary 8:43
17. What do buyers and sellers care about most? 5:58
Chapter 4: Modeling
18. Apple Acquires Disney - General Assumptions 10:08
19. Diluted Shares 18:34
20. Deal Assumptions 19:04
21. Financing Assumptions 13:36
22. Sources & Uses of Funds 6:27
23. Balance Sheet Historicals 7:33
24. PPA, Goodwill & Write-Ups 21:03
25. Modeling Pro Forma Adjustments 15:22
26. Credit Statistics 9:49
27. Accretion/Dilution Analysis 22:53
28. Cash vs. GAAP EPS 8:08
29. Calendarization 11:41
30. Sensitivity Analysis, Part 1 5:44
31. Sensitivity Analysis, Part 2 4:47
Chapter 5: Contribution Analysis & Exchange Ratios
32. Conceptually Understanding Contribution Analysis 6:49
33. Modifying the Calendarization Schedule 1:59
34. Modeling the Contribution Analysis 16:16
35. Fixed vs. Floating Exchange Ratios, Part 1 7:43
36. Fixed vs. Floating Exchange Ratios, Part 2 3:21
37. Fixed vs. Floating Exchange Ratios, Part 3 7:40
38. Conclusion 0:31
55 Lessons
6h 47m
TRADING COMPS MODELING
55 Lessons 6h 47m
"Comps" analysis is the quickest, most widely used valuation methodology, and
fundamental part of the core valuation skill set of investment bankers and
finance professionals. In this course, trainees learn how to select and "scrub"
comparables, pick the right multiples and build dynamic comps models in Excel
from scratch, using real case studies, ...
"Comps" analysis is the quickest, most widely used valuation methodology, and
fundamental part of the core valuation skill set of investment bankers and
finance professionals. In this course, trainees ...
"Comps" analysis is the quickest, most widely used valuation methodology, and
fundamental part of th ...
4
View Course TOC
Course TOC
Trading Comps Modeling
"Comps" analysis is the quickest, most widely used valuation methodology, and
fundamental part of the core valuation skill set of investment bankers and
finance professionals. In this course, trainees learn how to select and "scrub"
comparables, pick the right multiples and build dynamic comps model ... "Comps"
analysis is the quickest, most widely used valuation methodology, and
fundamental part of the core valuation skill set of investment bankers and
finance professionals. In this course, trainees learn how to select and "scrub"
comparables, pick the right multiples and build dynamic comps models in Excel
from scratch, using real case studies, industry best practices, and sensitivity
analyses. More Less
Chapter 1: Introduction
1. Welcome 0:42
2. Course Downloads Files
3. Valuation Overview 13:26
4. Trading Comps Overview 5:18
5. PE & PEG Ratios 8:01
6. P/B, EV/Rev, EV/EBIT, EV/EBITDA & Industry Multiples 10:45
7. Comps Process & Simple Exercise 8:28
8. Trading Comps FAQs & Common Misconceptions 7:46
Chapter 2: Spreading EXTR
9. Comps Screening 8:16
10. Extreme Networks & Peer Group 7:01
11. Comps Template Preview 9:54
12. Modeling Exercise: Inputting General Info 9:45
13. Shares Outstanding Overview 8:39
14. Shares Outstanding – Options 7:02
15. Shares Outstanding – Splits & Dual Classes 3:46
16. Shares Outstanding – Convertible Preferred Stock 11:27
17. Shares Outstanding – Convertible Debt 0:55
18. Shares Outstanding – Convertible Exercise 11:12
19. Shares Outstanding – Restricted Stock 2:48
20. Modeling Exercise: Inputting Shares Data 6:04
21. Modeling Exercise: Inputting Shares Data, Part 2 7:25
22. Modeling Exercise: Inputting Historicals 3:08
23. Modeling Exercise: Inputting Historicals, Part 2 4:56
24. Modeling Exercise: Non-GAAP Adjustments 11:10
25. Modeling Exercise: Non-GAAP Adjustments, Part 2 12:32
26. Modeling Exercise: Non-GAAP Adjustments, Part 3 8:21
27. Modeling Exercise: Non-GAAP Adjustments, Part 4 5:06
28. Net Debt Concepts 4:30
29. Modeling Exercise: Net Debt & Estimates 7:30
30. Calendarization Concepts 2:44
31. Modeling Exercise: Calendarization 11:12
Chapter 3: Spreading BRCD
32. Modeling Exercise: Inputting General & Shares Data 9:22
33. Modeling Exercise: Inputting Financials 5:23
34. Modeling Exercise: Non-GAAP Adjustments, Part 1 13:20
35. Modeling Exercise: Non-GAAP Adjustments, Part 2 8:37
36. Modeling Exercise: Calendarization, Net Debt & Estimates 6:20
Chapter 4: Spreading JNPR
37. Modeling Exercise: Inputting General & Shares Data 9:45
38. Modeling Exercise: Inputting Financials & Non-GAAP Adjustments 11:25
39. Modeling Exercise: Calendarization, Net Debt & Estimates 4:34
Chapter 5: Spreading CSCO
40. Modeling Exercise: Inputting General & Shares Data 6:42
41. Modeling Exercise: Inputting Financials & Non-GAAP Adjustments 9:05
42. Modeling Exercise: Net Debt & Estimates 6:14
Presentation & Interpretation
43. Modeling a Dynamic Comps Output Sheet, Part 1 17:22
44. Modeling a Dynamic Comps Output Sheet, Part 2 9:18
45. Modeling a Dynamic Comps Output Sheet, Part 3 6:55
46. Building a Football Field Matrix 5:32
ARUN & FFIV
47. Exercise Introduction 0:41
48. Exercise Review 12:29
49. Conclusion 0:20
Chapter 8: Appendix, GAAP to Non-GAAP Adjustments
50. Introduction & Stock Based Compensation 5:46
51. Nonrecurring Items Overview 4:30
52. Unusual or Infrequent Items 4:16
53. Non-GAAP Presentation on Financial Statements 7:35
54. Normalizing Earnings Exercise, Part 1 11:47
55. Normalizing Earnings Exercise, Part 2 9:25
52 Lessons
5h 12m
TRANSACTION COMPS MODELING
52 Lessons 5h 12m
Transaction comps analysis arrives at a company's value not by building a
discounted cash flow or looking at the trading values of peers, but by looking
at the purchase prices of recently acquired comparable companies. In this
step-by-step course, you’ll learn how to select comparable acquisitions and find
important disclosures in filings. Next, yo ...
Transaction comps analysis arrives at a company's value not by building a
discounted cash flow or looking at the trading values of peers, but by looking
at the purchase prices of recently acquired com ...
Transaction comps analysis arrives at a company's value not by building a
discounted cash flow or lo ...
5
View Course TOC
Course TOC
Transaction Comps Modeling
Transaction comps analysis arrives at a company's value not by building a
discounted cash flow or looking at the trading values of peers, but by looking
at the purchase prices of recently acquired comparable companies. In this
step-by-step course, you’ll learn how to select comparable acquisitions a ...
Transaction comps analysis arrives at a company's value not by building a
discounted cash flow or looking at the trading values of peers, but by looking
at the purchase prices of recently acquired comparable companies. In this
step-by-step course, you’ll learn how to select comparable acquisitions and find
important disclosures in filings. Next, you will spread real transactions on
your own. We’ll finish with a discussion about how to interpret the comp outputs
and how the model results are presented in practice. More Less
Chapter 1: Introduction to Transaction Comps
1. Welcome 0:44
2. Course Downloads Files
3. Introduction to Transaction Comps 2:20
4. Review: Trading Comps Overview 5:18
5. Review: Valuation Overview 13:26
6. Review: PE & PEG Ratios 8:01
7. Review: Trading Comps FAQs & Common Misconceptions 7:46
8. Review: P/B, EV/Rev, EV/EBIT, EV/EBITDA & Industry Multiples 10:45
Chapter 2: Implementing a Transaction Comps Analysis
9. Simple Transaction Comps Exercise 2:34
10. Simple Transaction Comps Solution 8:27
11. Synergies & Premiums 2:01
12. Finding Comparable Transactions, Part 1 5:02
13. Finding Comparable Transactions, Part 2 8:45
14. Finding Comparable Transactions, Part 3 8:11
15. Finding Target Financials 4:35
16. Finding Deal Terms 2:14
Chapter 3: Calculating Dilutive Securities
17. Review: Shares Outstanding Overview 8:39
18. Review: Shares Outstanding Options 7:02
19. Review: Shares Outstanding Splits & Duel Classes 3:46
20. Review: Shares Outstanding Convertible Preferred Stock 11:27
21. Review: Shares Outstanding Convertible Debt 0:55
22. Review: Shares Outstanding Convertible Exercise 11:12
23. Review: Shares Outstanding Restricted Stock 2:48
24. Finding Dilutive Shares Data, Part 1 8:23
25. Finding Dilutive Shares Data, Part 2 4:11
Chapter 4: Intro to Modeling & Spreading Brocade / Foundry
26. Case Study Introduction 5:33
27. Inputting Deal Terms 6:26
28. Inputting Basic Shares Data 6:49
29. Inputting Options Data 4:49
30. Inputting RSU Data 5:04
31. Net Debt 6:44
32. Inputting LTM Financials 4:50
33. GAAP to Non-GAAP Adjustments, Part 1 10:05
34. GAAP to Non-GAAP Adjustments, Part 2 3:46
35. Inputting Projections 9:16
36. Review 1:01
Chapter 5: Spreading Extreme/Enterasys
37. The Extreme/Enterasys Deal Review 4:02
38. Spreading the Comps 14:14
Chapter 6: Spreading HP/3COM
39. The HP/3COM Deal 3:38
40. Inputting Dilutive Shares, Part 1 10:18
41. Inputting Dilutive Shares, Part 2 5:02
42. Inputting LTM Financials, Part 1 10:56
43. Inputting LTM Financials, Part 2 4:38
44. Inputting Projections 6:26
Chapter 7: Spreading Thoma Bravo / Blue Coat System
45. The Thoma Bravo/Blue Coat Systems 2:39
46. Inputting Dilutive Shares, Part 1 6:33
47. Inputting Dilutive Shares, Part 2 7:26
48. Net Debt 3:36
49. Inputting LTM Financials 6:10
50. Inputting Projections 3:54
51. Review and the Output Tab 9:06
52. Conclusion 0:21
88 Lessons
9h 46m
LBO MODELING
88 Lessons 9h 46m
Leveraged buyout (LBO) modeling is used widely by investment banks and private
equity firms and is often part of a finance interview. In this course, you will
learn how to build a real, complex LBO model from scratch. You will start by
learning about basic LBO concepts, typical deal structures, and current industry
dynamics. You will then begin th ...
Leveraged buyout (LBO) modeling is used widely by investment banks and private
equity firms and is often part of a finance interview. In this course, you will
learn how to build a real, complex LBO mo ...
Leveraged buyout (LBO) modeling is used widely by investment banks and private
equity firms and is o ...
6
View Course TOC
Course TOC
LBO Modeling
Leveraged buyout (LBO) modeling is used widely by investment banks and private
equity firms and is often part of a finance interview. In this course, you will
learn how to build a real, complex LBO model from scratch. You will start by
learning about basic LBO concepts, typical deal structures, and ... Leveraged
buyout (LBO) modeling is used widely by investment banks and private equity
firms and is often part of a finance interview. In this course, you will learn
how to build a real, complex LBO model from scratch. You will start by learning
about basic LBO concepts, typical deal structures, and current industry
dynamics. You will then begin the step-by-step modeling, covering the most
common and challenging issues that emerge when modeling buyouts. The course
concludes with a sensitivity and scenario analysis, as well as how to
build output tables that are key to any professional-grade LBO analysis. More
Less
Chapter 1: LBO Basics
1. LBO Modeling Course Welcome 1:21
2. Course Downloads Files
3. LBO Modeling Course Roadmap 0:48
4. Introduction to LBOs 7:25
5. Working Through the Dell LBO on a Cocktail Napkin, Part 1 8:07
6. Working Through the Dell LBO on a Cocktail Napkin, Part 2 5:42
7. What makes a good LBO? 4:26
8. Current LBO Environment, Part 1 7:51
9. Current LBO Environment, Part 2 9:10
10. Current LBO Environment, Part 3 6:55
11. Tax savings in LBOs 3:37
12. Tax Reform Impact, Part 1 3:51
13. Tax Reform Impact, Part 2 4:45
14. LBO Capital Structure - Equity 4:02
15. LBO Capital Structure - Debt 7:04
16. Term Loans & the Revolver, Part 1 6:43
17. Term Loans & the Revolver, Part 2 7:16
18. Bonds 5:28
19. Covenants 4:25
20. Mezzanine Financing & Bridge Loans 3:39
21. Extended Dell LBO on a Cocktail Napkin, Part 1 2:46
22. Expanded Dell LBO on a Cocktail Napkin, Part 2 6:07
Chapter 2: The Structure of PE Firms & Investor Dynamics
23. Dry Powder 2:38
24. How PE Funds Work 7:12
25. GP vs. LP Dynamics 5:15
26. Tax Reform Impact on the Structure of PE, Part 1 5:11
27. Tax Reform Impact on the Structure of PE, Part 2 4:42
28. Whole-Fund vs. Deal-by-deal Distribution Model 2:34
29. Distribution Waterfall Exercise, Part 1 10:12
30. Distribution Waterfall Exercise, Part 2 3:41
Chapter 3: Modeling a Real LBO
31. Case Study Introduction: The Leveraged Buyout of BMC 5:25
32. General Inputs 5:53
33. Initial Valuation: Offer Price vs. Enterprise Value 10:00
34. Diluted Shares, Part 1 12:26
35. Diluted Shares, Part 2 5:21
36. Sources and Uses of Funds, Part 1 13:20
37. Sources and Uses of Funds, Part 2 9:52
38. Creating the Historical Income Statement 13:24
39. Forecasting the Income Statement, Part 1 7:04
40. Forecasting the Income Statement, Part 2 8:35
41. Forecasting the Income Statement, Part 3 3:27
42. Forecasting Accounts Receivable 6:22
43. Forecasting Other Working Capital Items 10:30
44. Preparing the PP&E Schedule 10:44
45. Preparing the Software Development Costs, Intangibles and Goodwill Schedules
9:59
46. Forecasting PP&E 7:49
47. Forecasting Software Development Costs 2:16
48. Forecasting Intangibles, Goodwill, Other Assets & Other Liabilities 5:58
49. The Cash Flow Statement 7:05
50. Cash 4:53
51. Interest Income and Circularity 5:27
52. Modeling the Revolver 8:55
53. Modeling Required Debt Amortization 6:57
54. Modeling Cash Sweeps 12:33
55. Modeling the Revolver Borrowing Base Compliance 5:12
56. Modeling PIK Debt & Preferreds 4:05
57. Capitalized Financing Fees 2:23
58. Modeling Interest Expenses 16:58
59. Completing the IS and CFS 2:29
Chapter 4: LBO Exit & Returns Analysis
60. Model Review and Introduction to Exit Analysis 5:16
61. Enterprise Value at Various Exit Multiples 7:57
62. Exit Equity to Sponsors & Management, Equity Kickers to Mezz 7:24
63. Returns to Senior Debt 8:24
64. Returns to Sub Debt 5:39
65. Modeling IRRs and Cash-on-Cash Returns 3:43
66. Creating an LBO Summary Table 6:26
Chapter 5: Sensitivity Analysis
67. Modeling Hurdle Rate Sensitivity 11:16
68. IRR Sensitivity to Leverage and Valuation 7:12
69. IRR Sensitivity to Mezz Debt Terms 11:43
70. Model Review 13:49
Chapter 6: Pro Forma Balance Sheet Adjustments
71. Setting up the Historical Balance Sheet 6:16
72. Adjusting the Balance Sheet to Reflect the LBO 11:58
73. Modeling LBO Goodwill and a Recap Toggle 3:16
74. Pro Forma Balance Sheet (PFBS) Historicals 2:30
75. Forecasting PFBS Assets 4:28
76. Forecasting PFBS Liabilities & Equity 11:26
77. Post-2015 financing fee rules in LBO models 12:03
78. Goodbye 0:13
Appendix I: Dividend Recaps
79. Understanding BMC's Dividend Recap 4:52
80. Adjusting the Model for BMC's Dividend Recap and PIK Toggle Sub Debt 3:43
81. Alarm Over Dividend Recaps 3:35
Appendix II: Advanced Purchase Price Allocation Modeling
82. Modeling Asset Write Ups 7:50
83. Asset Sale (338)/Stock Sale Toggle and DTLs 7:36
84. Impact on the IS and CFS 8:47
85. Impact on the Balance Sheet 5:06
Appendix III: Attaching a DCF Analysis to an LBO Model
86. Adding a DCF Analysis to the LBO Model 10:08
Appendix IV: KKR LBO of BMC in 2018
87. What the KKR deal tells us about likely actual IRRs 13:57
Appendix V: Debt Deep Dive
88. Leveraged Finance: Debt Deep Dive Reading
21 Lessons
1h 36m
BONUS BUILDING BUYERS LISTS
21 Lessons 1h 36m
In this deep dive into what it takes to build buyers lists for target companies,
you'll get an overview of the M&A deal process, learn to understand different
types of buyers and analyze the typical motivations and important elements of
both strategic and financial buyers. We'll take you through a step-by-step guide
on how to use the PitchBook financial data provider to identif ...
In this deep dive into what it takes to build buyers lists for target companies,
you'll get an overview of the M&A deal process, learn to understand different
types of buyers ...
In this deep dive into what it takes to build buyers lists for target companies,
you' ...
View Course TOC
Course TOC
Building Buyers Lists
In this deep dive into what it takes to build buyers lists for target companies,
you'll get an overview of the M&A deal process, learn to understand different
types of buyers and analyze the typical motivations and important elements of
both strategic and financial buyers. We'll take you through a s ... In this deep
dive into what it takes to build buyers lists for target companies, you'll get
an overview of the M&A deal process, learn to understand different types of
buyers and analyze the typical motivations and important elements of both
strategic and financial buyers. We'll take you through a step-by-step guide on
how to use the PitchBook financial data provider to identify potential buyers
for target companies, and show you how to complete a client-ready buyers list of
companies you believe will be the most logical for your client. More Less
Building Buyers Lists
1. Buyers List Course Welcome 1:29
2. Course Downloads Files
3. Introduction: What is a Buyers List? 1:29
4. Our Journey 2:12
5. Review — Types Of Buyers 22:36
6. Strategic Buyers — Who 2:18
7. Strategic Buyers — What 3:38
8. Strategic Buyers — Where 2:15
9. Strategic Buyers — Why 3:41
10. Screening For Strategic Buyers 1:47
11. Screening For Strategic Buyers — Strategic Fit 7:08
12. Screening For Strategic Buyers — Geographic Fit 3:06
13. Screening For Strategic Buyers — Financial Firepower 2:37
14. Screening For Strategic Buyers — M and A Appetite 11:30
15. Screening For Strategic Buyers — Output 6:35
16. Lets Talk Financial Buyers 12:48
17. Screening For Financial Buyers 4:18
18. Financial Buyers — Output 1:02
19. Key Takeaways 1:47
20. Q&A 3:54
21. Building Buyers Lists Review Quiz
BONUS 25+ MINI-COURSES
Included in enrollment are 25+ mini-courses led by WSP's team of
instructor/practitioners. These 1-to 2-hour courses cover a variety of topics
from basic (Excel, Accounting, Powerpoint) to more advanced and industry
specific.
Included in enrollment are 25+ mini-courses led by WSP's team of practitioners.
View Mini-Course List
X
Included Bonus Courses
ADJUSTED EBITDA
While EBITDA is a popular measure of profitability, companies increasingly use
"adjusted EBITDA" to present profit and show higher EBITDA by excluding
significant line items, most notably stock based compensation. We begin by
explaining why EBITDA has become more popular than straight cash flow or GAAP
profits. We'll build upon this to judge the appropriateness of the most common
adjustments that companies now make to EBITDA. We'll use real company filings to
examine the most common adjustments today's companies make to EBITDA to show:
When using EBITDA is preferable to net income or cash flows, and when it isn't;
The rationale for adding back stock based compensation, and how this can lead to
overvaluation; The appropriate and inappropriate use of other common adjustments
to EBITDA.
BUY-SIDE STOCK ANALYSIS
How do buy-side investors make investment decisions? How do they know where to
begin? How do they pick a company to analyze? Ultimately, how do they analyze
that company and arrive at an investment thesis? Here, we take the first step
toward understanding and analyzing a stock from the perspective of a buy-side
investor.We begin with a look at the due diligence and financial analysis
process investors use to examine investment opportunities and progress to
examine the variables buyside investors consider in real life when making the
final decision on whether to “pull the trigger.”
COMMON MISTAKES IN CALCULATING DILUTED SHARES OUTSTANDING
Convertible Debt. Convertible Preferred Shares. Warrants. Stock Options.
Restricted Stock. In the context of valuation, it's always difficult to
accurately quantify all potential claims against the common equity pot. This
teach-in will provide a solid foundation for all grey areas in calculating
diluted shares outstanding, both from stand-alone and M&A valuation
perspectives. We will show you: how to calculate dilution from the exercise of
stock options and/or warrants using the Treasury Stock Method; best practices in
treating convertible securities and the respective implications on valuation;
how to best deal with restricted stock given the context (standalone valuation
vs. M&A context).
DEBT CAPITAL MARKETS: HOW TO SURVIVE DAY 1
Designed for incoming and prospective DCM/Capital Markets analysts and interns
with no prior DCM experience, this course will provide an insider's prospective
of what you''ll be doing on the job. We'll focus on industry knowledge not
taught in school and demystify industry jargon. We start with the basics: what
DCM actually does, what a DCM desk looks like and how to use the turret; We'll
show you how to make a great first impression from Day 1 and walk you through
the DCM pitchbook and the DCM transaction roles and responsibilities you need to
know.
DEBT CAPITAL MARKETS PRIMER
Corporate finance bankers interact regularly with their product partners in debt
capital markets, yet many have a limited understanding of the key drivers behind
DCM business. This webinar begins by introducing you to the key DCM business
lines, including Loan Syndication, Debt Origination, Liability Management and
Risk Management. Next, it examines the ways DCM bankers interact with corporate
clients and concludes by explaining how the bank makes money (with just the
right amount of bond math).
DECONSTRUCTING INTERCOMPANY INVESTMENTS
There are some line items on a company’s financial statements that consistently
pose challenges for analysts and associates. Here, we focus on the line items on
the income statement, balance sheet and cash flow statement that arise when
companies make investments in other companies. Using real-life examples, we
answer the following questions: What are “non-controlling interests,” “equity
investments” and “available for sale” securities? How do non-controlling
(minority) interests and other investments flow through a 3 statement model? How
are deferred taxes accounted for in such investments? How should models be
adjusted when investments are made at higher than book value?
DECONSTRUCTING A BANK'S FINANCIAL STATEMENTS
The unique business model of banks means that the financial statements and core
drivers often pose unique challenges in analysis, forecasting and valuation. In
this Webinar, we will take the first step toward understanding and analyzing
bank financials. It will cover: A bank's major financial statements and how they
differ from those of other industries; the key linkages between the financial
statements; how a bank's business model and regulatory considerations are
reflected in the statements; and how to quickly analyze bank financials.
DECONSTRUCTING A MARITIME COMPANY'S FINANCIAL STATEMENTS
Maritime companies have a unique business model which leads to financial
statements, forecasting and valuation techniques that are a little different
from those of a "typical company." In this webinar, we will take you through a
quick analysis of maritime financials and answer the following: What a
non-maritime company's major financial statements look like and how they differ
from those of other industries; What key linkages exist between the financial
statements; How a maritime company's business model and regulatory
considerations impact financial reporting.
DEMYSTIFYING THE BUY SIDE: LONG/SHORT INVESTING
While the terms “hedge fund” and “long/short” are tossed around frequently,
there's little clarity on how these strategies work in practice. Led by Mike
Kimpel, Wall Street Prep instructor and adjunct Professor at Columbia Business
School's popular Value Investing Program, this teach-in will walk you through
the most common "value investing" strategies deployed at "long/short" hedge
funds. We will examine real-world case studies to answer the following: What
does a long/short investing strategy aim to achieve? What are the typical types
of fund strategies? What does long investing look like in practice? What does
short investing look like in practice?
DEMYSTIFYING COMMERCIAL REAL ESTATE MODELING
Designed for IB, PE and real estate investment professionals, this course will
show you how to construct a commercial real estate model in Excel in order to
evaluate investment opportunities. We will cover: How to navigate Argus and how
to link it into an Excel model; Basic lease structures and how each type
differs; How to understand key revenue, operating expense and cash flow drivers
of a commercial real estate model; Calculating unlevered and levered returns for
a commercial property; Deal financing and source & uses of funds.
DEMYSTIFYING FX OPTIONS
Designed for incoming and prospective financial market professionals and
investment bankers, this course will use real examples to demonstrate the
various use cases for Foreign Exchange (FX) Options. We'll start with an
overview of FX options trading conventions and decode some trader jargon before
answering: Who trades FX options and why? How do you price an option? What
causes the value of an FX option to go up or down? What are some different
FX option strategies and why would one use them? At course conclusion, you'll
have a strong grasp of how corporates, banks, and investors use FX options to
hedge against, or make money from, moves in the underlying FX market.
DEMYSTIFYING THE HEALTHCARE SECTOR
Designed for prospective or incoming healthcare IB/PE analysts & associates as
well as anybody interested in learning about the healthcare sector, this course
will introduce you to industry sub-sectors and explore the key financial and
operating metrics, drivers, industry jargon, valuation methodologies, trends and
regulatory concerns of each.
DEMYSTIFYING HOSTILE TAKEOVERS
This course uses transactions such as Monsanto/Syngenta, Sanofi/Medivation and
Anthem/Cigna to explain the most common defense mechanisms, tools and strategies
companies use to defend against hostile takeovers. Specifically, we answer the
following questions: What are the considerations for a tender offer and how does
it differ from a proxy contest? What are preventive defense mechanisms such
“poison pills” and “staggered boards” and how do they protect a company? What
strategies can companies invoke when facing an activist hedge fund? Are
companies under any obligation to accept a hostile bid if it is higher than
other bids?
DEMYSTIFYING THE PRIVATE EQUITY DEAL PROCESS
Designed for incoming and prospective PE associates as well as investment
bankers and lenders working with PE clients, this mini-course is
a step-by-step walkthrough of the key phases of the private equity deal process.
We bring you through the major PE deal checkpoints (Pre-Deal,First Round
Bid/IOI,Diligence Deep Dive/LOI, Post-LOI, Closing) and describe how junior
professionals can add value to the deal team.
DEMYSTIFYING RESTRUCTURING INVESTMENT BANKING FOR INCOMING ANALYSTS AND
ASSOCIATES
This course is designed for incoming restructuring bankers and current bankers
looking to further their restructuring or distressed debt knowledge. It provides
an in-depth overview of restructuring and identify the skills you'll need in the
early days of your restructuring IB career. We begin by introducing the
restructuring process as well as common pitchbook and financial analyses in
restructuring IB. From there, we take more in-depth look at the analyses and
modeling-related techniques utilized by analysts and associates early in their
restructuring banking careers. This course assumes little to no prior knowledge
of restructuring.
DEMYSTIFYING THE ROLE OF AN FP&A PROFESSIONAL
Ever wonder how companies actually make the earnings forecasts that they
communicate to Wall Street? Enter the FP&A professional — one of the most
technically rigorous corporate finance career paths. FP&A professionals work
closely with the CFO, Director of Finance and other stakeholders to provide them
with the information they need to make strategic and
operational decisions. Here, we'll take a look at the role an FP&A professional
by discussing: Why FP&A is critical in today's competitive business
environment; How FP&A differs from traditional finance and accounting roles; The
skills a qualified FP&A professional should possess.
EXCEL BASICS (MAC)
Proficiency in Excel is a fundamental part of the finance job description. And
while the Windows version of Excel reigns supreme on the job, in our MBA and
undergrad classes we still get the question all the time: “What about Excel on a
Mac?” In this course, we introduce Mac users to the basics of Excel. We will
cover topics such as: The Mac Excel Layout and Ribbon; Editing and Working with
Numbers and Operators; Formatting and Navigation (Worksheets, Workbook, Rows &
Columns); Working with Rows & Columns; Time-Saving Tools (Anchoring Cells,
Formula Auditing, Interpreting Errors, Find and Replace); Introduction to
Functions (SUM, Average, IF and nested IF). The only way to learn Excel is by
doing, so you’ll be completing Excel exercises every step of the way.
EXCEL BASICS (WINDOWS)
For finance professionals, proficiency in Excel is a fundamental part of the job
description. Whether you currently work in Excel at a beginner or intermediate
level, this course will take you to the next level and turn you into an advanced
"power" user. We'll start with the basics before we quickly introduce you to
lesser known time-saving keyboard shortcuts and powerful Excel functions and
features that you can immediately put to use on the job. The only way to learn
Excel is by doing, so you'll be completing Excel exercises alongside the
instructor at every step of the way.
FROM EXCEL USER TO EXCEL MASTER: DEMYSTIFYING VBA
You know by now that Excel proficiency is a must for any successful finance
professional, but it's those who venture into Excel's advanced functionality
that will become standout analysts. This webinar will teach you how to: Unlock
the Developer Ribbon in order to use VBA; Manipulate cells and sheets, whether
they're hidden or not; Record, modify and write macros from scratch; Set up
special commands when a button is pressed, a cell is selected, or a cell's value
is changed; Run through your code, line by line, to debug.
IB SOFT SKILLS: TOOLS FOR BECOMING AN AMAZING JUNIOR BANKER
You’re heading to a friend’s wedding and you’re about to board your plane when
you get a call from your office saying you’ve been staffed and need to come back
ASAP. What do you do? Becoming a successful banker is not just about modeling
and technical skills. In this course, we talk about the specific tactics and
strategies you can employ on day 1 that have nothing to do with modeling.
Specifically, you’ll gain tools to handle common challenges and situations.
Conducted by Matan Feldman, Founder and CEO of Wall Street Prep, this course
will give you actionable tools for differentiating yourself as a junior bankers
from day 1.
INSURANCE COMPANY FINANCIAL STATEMENTS
The unique business model of insurance companies is reflected in their financial
reporting, and leads to a differentiated approach towards analysis, forecasting
and valuation. In this webinar, we will take the first step towards
understanding and analyzing such financials to answer the following: What a
non-life insurer’s major financial statements look like and how they differ from
those of other industries; What key linkages exist between the financial
statements; How an insurer’s business model and regulatory considerations impact
financial reporting; How a quick analysis of insurance financials is done.
AN INTRODUCTION TO PROJECT FINANCE
As the demand for energy and infrastructure projects increases, understanding
project finance mechanics is becoming an increasingly valuable skill set for
investment bankers as well as corporate and project finance professionals. This
webinar will introduce you to key project finance topics including: The drivers
for project finance/the "who" and "why;" Sources of project finance; How the
typical project finance deal structure differs from that in corporate finance.
OIL & GAS FINANCIAL STATEMENTS
This webinar is designed to help participants understand the structure and
layout of the O&G financial reports. We start by looking at different O&G
accounting methods and their impact on financial statements. We then touch on
the differences between 1P, 2P, and 3P reserves before spending the rest of the
time analyzing and interpreting O&G financial statements, footnotes, and
disclosures, and on performing O&G ratio analysis.
POWERPOINT SHORTCUTS FOR INVESTMENT BANKERS
One of the first things investment banking analysts hear when they get to their
desks is the importance of mastering shortcuts in Excel. But there’s another
Microsoft program junior bankers spend even more time in that gets a fraction of
the attention: PowerPoint. In this course, you’ll gain skills that will reduce
the amount of time it takes you to create and update pitchbook slides by 60%.
We'll focus on 4 key time-saving techniques: hold shortcuts, hybrid shortcuts;
ribbon guide shortcuts and QAT guide shortcuts.
A PRACTITIONER'S GUIDE TO PRIVATE COMPANY ANALYSIS
Designed for incoming and prospective investment bankers, private equity
associates and lenders, this course will show you how professionals analyze
private companies in order to evaluate investment opportunities, drive
valuation, inform a sell-side and/or buy-side process and generally assess
overall financial health. Part one will cover private company analysis in early
stages of the investment process, and will answer: Historically and today, how
healthy is the company? What does the company's financial future look like? What
challenges exist when working with a private company? What's different when
analyzing a private vs public company?
PRIVATE EQUITY REAL ESTATE WATERFALLS
Part 1 of this 2-part course will show you how professionals structure and
calculate waterfalls — the method in which distributions are split between
sponsor and investor. It will will cover the basics of private equity real
estate waterfalls, including: The rationale behind why waterfalls exist; Whole
fund carry vs deal-by-deal carry; Multiple hurdle rates and a Catch-up; Common
calculation mistakes to avoid; A dynamic waterfall model illustrating the
distribution of cash flows.
SKILLS FOR NEGOTIATING TRANSACTIONS
Junior bankers who aspire for advancement often struggle with the challenge of
stepping out of their technically oriented analyst/associate role and into a
more customer- and relationship-oriented role of a senior banker. "Moving from
Junior to Senior Banker: Skills for Negotiating Transactions" covers: Power and
leverage in a negotiation; When should you make the opening bid; How to counter
hardball tactics; How to deal with liars or unethical negotiators; How to break
the zero sum model and create value for your clients; The importance of framing;
How the nature of the relationship drives the negotiating style.
UNDERSTANDING ASSET V STOCK SALES
There's probably no area of M&A more challenging than understanding the
differences between deals structured as stock sales or asset sales/338
elections. We begin with an explanation of how the decision to structure a deal
as either a stock sale or an asset sale/338 election creates significant tax and
accounting implications for both buyer and seller. Next we examine the
buyer/seller benefits and drawbacks of each deal structure before showing how a
negotiation can resolve buyer/seller benefits and drawbacks. We'll conclude with
a look at the deal structure's impact on financial models.
UNDERSTANDING CORPORATE FINANCIAL RESTRUCTURING
This course is meant to introduce newbies to a high level overview of financial
restructuring and set the stage for further more advanced analysis. The first
few lessons demonstrate using simple examples how companies find themselves in
distress. The next several lessons illustrate how financial restructuring can be
used to cure the distress. The last several lessons dive deeper into priorities,
valuation of firms under distress, and considerations for distressed debt
investors.
UNDERSTANDING DIVESTITURES
While mergers and acquisitions capture headlines, global spin-off transactions
quietly reached a record high of over $250 billion last year. So why would a
company want to spin off or divest a subsidiary? And how exactly is it done?
With a specific look at eBay's 2015 spin-off of PayPal, here we will examine the
value proposition of spin-offs and other popular divestiture mechanisms to
answer the following: When does a divestiture make strategic sense? How exactly
does a company carry out the separation? How do divestitures impact financial
statements? What are the tax consequences of divestitures?
UNDERSTANDING E&P HEDGING TECHNIQUES AND HOW TO MODEL THEM
Commodity prices are volatile. For companies in the business of producing or
selling commodities, revenue and cash flow forecasts rely heavily on the price
at which they can sell their commodities in the future. So heavily, in fact,
that firms aggressively use hedging strategies to protect against changes in
commodity prices. In this course designed for Oil and Gas investment banking,
private equity, and research professionals, we'll demystify how oil and gas
producers use hedges and how to adjust financial models to correctly reflect
them.
UNDERSTANDING MLPS
The rapid growth as an asset class of publicly traded partnerships known as
Master Limited Partnerships (MLPs) was a financial success story of the last
decade. However, given the current commodity price environment, the premise of
the MLP model has come under review. This course begins with an overview of the
MLP asset class including a look at its many sub-sectors and risks. It
progresses with a look at MLP valuation, including modeling the
accretion/dilution of an acquisition or project and understanding the tax
implications of investing in MLPs.
UNDERSTANDING PURCHASE PRICE ALLOCATION
M&A accounting and purchase price allocation in particular are challenging
concepts for practitioners to understand and correctly implement into models. In
this webinar, we'll take the first step towards understanding the general PPA
process and procedures to answer the following: What is purchase price
allocation and how is it performed? What is the PPA impact on financial
statements? What are the key differences between PPA requirements for public
companies vs. privately-held businesses? How do we handle complexities around
various purchase considerations?
LIVE EVENT "MEET YOUR INSTRUCTOR" KICKOFF CLASS
While the Premium Package is self-paced, enrollment includes optional attendance
to a 30-minute Zoom session where trainees will meet the program instructor, who
will give a brief program orientation and answer questions in a live Q&A.
While the Premium Package is self-paced, enrollment includes optional attendance
to a 30-minute "Meet Your Instructor" Zoom session.
1-MONTH ACCESS TO PITCHBOOK
Use the PitchBook platform to see comprehensive private and public market data
in action as you work your way through the Premium Package. Explore PitchBook's
robust set of tools for understanding valuations such as M&A comps, venture
valuation comps, public comps, and fund data.
Use the PitchBook platform to see comprehensive private and public market data
in action as you work your way through the Premium Package.
COURSE SAMPLES
FINANCIAL STATEMENT MODELING: 30,000FT VIEW OF OUR MODEL
FINANCIAL STATEMENT MODELING: REVENUE BUILD
FINANCIAL STATEMENT MODELING: DEPRECIATION WATERFALL INTRODU...
DCF: MODELING THE MID-YEAR CONVENTION
M&A: MODELING PRO FORMA ADJUSTMENTS
LBO: REVIEWING OUR LBO MODEL
FINANCIAL STATEMENT MODELING TEMPLATE
ACCRETION DILUTION MODELING TEMPLATE
LBO MODELING TEMPLATE
GET THE FINANCIAL & VALUATION MODELING CERTIFICATION
Premium Package learners are eligible to earn Wall Street Prep's globally
recognized Financial & Valuation Modeling Certification. The certification is
earned by successfully completing the final exam from each of the program's 6
courses. These online assessments can be taken any time after enrollment in the
program.
PREMIUM PACKAGE HIGHLIGHTS
INTUITIVE, SELF-PACED AND COMPREHENSIVE
Wall Street Prep's Premium Package is intuitive and self-paced. You should
expect to spend approximately 70-90 hours to complete it. Using a combination of
videos, Excel model templates and financial reports, this course teaches
students and professionals how to build, analyze, and interpret financial models
in a step-by-step fashion at their own pace. The program utilizes a case study
format, as students follow their tutorial guide alongside the Excel model
templates, and are directed to the appropriate external documents (SEC filings,
research reports, etc.) in order to build comprehensive models the way they
would on the job.
REAL WORLD "ON THE JOB" INVESTMENT BANKING TRAINING
The Premium Package bridges the gap between academics and the real world to
equip students with the practical financial skill set that they will need on the
job. Our program will give you the confidence you need to ace your interviews
and to get ahead in your IB career.
SUPPORT CENTER
Upon enrollment, students gain free and unlimited access to Wall Street Prep's
Online Support Center, where they receive answers to questions, free downloads,
and important updates from a support staff comprised entirely of experienced
former investment bankers.
PRIVATE ONLINE TUTORING (ADDITIONAL FEE APPLIES)
Want a little extra attention? Live video-chat tutoring is available with
experienced investment bankers for a fee of $800/hour. In addition, your
tutoring sessions enable you and your tutor to share models, a virtual
blackboard and any other files via an integrated web and phone platform that
enhances the learning experience.
RESUME INCLUSION
In light of the challenges facing prospective job candidates, Wall Street Prep
recently launched a free, voluntary opt-in service to all its alumni and new
students. Upon enrolling in the Premium Package, you will be given the option to
upload your resume and cover letter to WSP.
PREREQUISITES
The program assumes a basic introductory knowledge of accounting (e.g.
interaction of balance sheet, cash flow, and income statement) and proficiency
in Excel. Students with no prior background in Accounting should enroll in the
Accounting Crash Course. Students with limited experience using Excel should
enroll in the Excel Crash Course.
TRAINEE SPOTLIGHT
We use your Premium Package program to train incoming analysts and we couldn’t
be happier with the results. The learning experience of having videos
synchronized with step-by-step manuals is preferable even to a live class. We
looked at a number of options in the space and found WSP to have the most
complete offering.
— Alex Tsukernik, Managing Director, Syntella Partners
Wall Street Prep picks up where MBA programs leave off. While MBA programs focus
on theory and strategy, WSP focuses on tactics and how-to. WSP and an MBA work
very well together. I highly recommend to students that they augment their
classroom studies with a Wall Street Prep course.
— David Cass, MBA Assistant Director, Leeds School of Business
I'm a sophomore finance student at the University of London. I have only good
things to say about the course! The pace is perfect and the model templates help
a ton in facilitating and accentuating the lessons. Being a college student, I
dare even say this course is better than the lecturers at my school.
— Shaun Chia
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Walter F.
Verified Buyer
5.0 star rating
11/09/23
Financial Statement Modeling Review
Review by Walter F. on 9 Nov 2023 review stating Financial Statement Modeling
Review
Amazing up to now, this is the exact course that I was looking for
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Marko P.
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5.0 star rating
10/17/23
Financial Statement Modeling Review
Review by Marko P. on 17 Oct 2023 review stating Financial Statement Modeling
Review
Great course with practical applications.
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Andre M.
Verified Buyer
5.0 star rating
10/09/23
LBO Modeling Review
Review by Andre M. on 9 Oct 2023 review stating LBO Modeling Review
Very good step-by-step process. Much appreciated!
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Giovanni B.
Verified Buyer
5.0 star rating
08/11/23
Financial Statement Modeling Review
Review by Giovanni B. on 11 Aug 2023 review stating Financial Statement Modeling
Review
Wall Street Prep has been incredibly rewarding!!!
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Matt K.
Verified Buyer
5.0 star rating
08/07/23
DCF Modeling Review
Review by Matt K. on 7 Aug 2023 review stating DCF Modeling Review
These lessons are super helpful, and I am learning so much!
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Fedor B.
Verified Buyer
5.0 star rating
08/07/23
Financial Statement Modeling Review
Review by Fedor B. on 7 Aug 2023 review stating Financial Statement Modeling
Review
I really like this course, and also the fact that you are not only showing
modeling practices, but also reminds some Accounting/financial topics
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Louis M.
Verified Buyer
5.0 star rating
08/04/23
DCF Modeling Review
Review by Louis M. on 4 Aug 2023 review stating DCF Modeling Review
This program goes very in depth and makes it very easy to follow along.
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Dilara A.
Verified Buyer
5.0 star rating
08/02/23
Financial Statement Modeling Review
Review by Dilara A. on 2 Aug 2023 review stating Financial Statement Modeling
Review
The Financial Modeling Course surpassed my expectations! The attached Excel
examples were invaluable, and the video lessons were engaging and informative.
The instructor's detailed explanations made learning a breeze. The only minor
issue was the slight disparity between PowerPoint and video content, but the 80%
match overall was still satisfactor...Read MoreRead more about review stating
Financial Statement Modeling Review
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John W.
Verified Buyer
5.0 star rating
08/01/23
Financial Statement Modeling Review
Review by John W. on 1 Aug 2023 review stating Financial Statement Modeling
Review
I love how slowly you progress through items, while also making sure we
understand how it actually works!
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Andy S.
Verified Buyer
5.0 star rating
08/01/23
Financial Statement Modeling Review
Review by Andy S. on 1 Aug 2023 review stating Financial Statement Modeling
Review
Very helpful. The course guides you through basic financial understandings while
simultaneously exposing you to new, important, and useful information and
techniques necessary in Finance. Truly a great learning platform to work
through.
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