FNCE 3415 Valuation & Financial Modeling

Each module contains lecture slides to accompany videos and other module assignments and handouts. Details on what is required for each module will be sent in an email. Slides are meant as a template for lectures and should not be used in lieu of coming to class. Slides are constructed based on topics from Wall Street Prep Materials and Professor Damodaran of NYU's course and books.

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Basic Excel Modeling

This module covers basic excel skills. It introduces keyboard shortcuts, referencing, formatting, functions(statistical, logical, and lookup), as well as modeling best practices. It also reviews time value of money. Students will be both proficient and efficient in the necessary Excel skills to complete the remainder of the course.

View Slides Printer Friendly Slides Excel Shortcuts Class Worksheet Practice Exercises Topics Practice Problem Homework 1 Group Exercise

Financial Statements Review

This lecture is a review of accounting and financial statements. It covers key concepts and terms about the balance sheet, income statement, and cash flow statement. It also covers financial reporting. Students will know how to read, understand, and extract information from required regulatory filings (such as 10-Ks, 8-Ks, or 10-Qs). 

View Slides Example of Annual Report Printer Friendly Slides Topics Practice Problems Homework 2 Lemonade Stand Class Exercise Group Exercise

Financial Statements Analysis

This lecture covers the calculation and understanding of standardized financial statements and financial ratio and a brief discussion financial planning and growth. We will also cover California Choppers Case. Students will be able to analyze firm performance by examining trends and comparing with competitors (or peers).

View Slides Printer Friendly Slides Financial Ratios Topics Homework 3 Practice Problems HW4/Case Template EW Example SFIX example Group Exercise

Financial Statements Modeling

This lecture covers the basics of projecting future cash flows. Discussion includes pro-forma financial statement modeling as well as modeling free cash flows directly. Students will be able to read all publicly available information and evaluate a business in order project growth.

View Slides Printer Friendly Slides Topics Practice Problems Gentex Template Gentex Material Alaska Template Pro-forma template Pro-forma extended HW5 Instructions HW5 Template Group Exercise

Discounted Cash Flow Valuation (DCF) Part 1

Introduction to Discounted Cash flow valuation. Discussion focused on estimating terminal value and cost of capital and calculating enterprise value. Students will be able to perform company valuation using the discounted cash flow approach.

View Slides Printer Friendly Slides Topics Practice Problems Gentex Terminal Value Gentex WACC Alaska Airlines Stryker Beta Homework 6 Homework 7 HW7 Template

Discounted Cash Flow Valuation (DCF) Part 2

Tying up loose ends in valuation, including discussion of employee equity grants, cash, mid-year discounting, cross holdings, and dual class shares. We will also discuss levered cash flows and the importance of and the tools to conduct sensitivity analysis. Students will be able to incorporate complex issues into a company valuation and perform sensitivity analysis.

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Relative Valuation: Multiples

Introduction to relative valuation using multiples. Includes discussion of selecting trading or transaction comparables, using several common multiples, and calculating LTM. Also introduces estimation of excess cash. Students will be able to perform company valuation using the multiples (aka, comparables) approach.

View Slides Printer Friendly Slides Topics Practice Problems Homework 8 Homework 9/10 Homework 9/10 Template

Model Selection and Football Field Chart

This section finishes with a discussion of Intrinsic vs Relative valuation and creating a "football field" chart to display the ranges of your valuation relative to the market price range. Students will understand the strengths and weaknesses of each methodology and know which method to use in different situations.

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Advanced Excel

This section covers miscellaneous Excel skills including Pivot Tables, conditional formatting, basic graphing skills, concatenating, INDIRECT function, the group of TEXT based functions, and goal seek. Students will be able to solve complex problems using Excel functions and features. Watch this video for an introduction to the topics and check here for additional practice.

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