FNCE 3415 Valuation and Financial Modeling

Videos

DCF Valuation Videos

Gentex Terminal Value and WACC Alaska Airlines Terminal Value and WACC Stryker Beta Estimation Gentex: Dealing with Equity Compensation Gentex: Sensitivity Analysis Teuer Furniture DCF

Relative Valuation Videos

LTM Example Relative Valuation: Gentex

Advanced Excel Videos

Advanced Excel

Football Field Chart

Football Field Chart

Video #1: Gentex TV and WACC

This video works through the Gentex template. We discuss how to calculate the Terminal value using perpetuity growth and the exit multiple approaches. We also work through the calculation of the weighted average of capital. Lastly we finish by calculating the enterprise value and the associated equity value of Gentex.

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Video #2: Alaska TV and WACC

This video works through the Alaska Airlines template. We discuss how to calculate the Terminal value using perpetuity growth and the exit multiple approaches. We also work through the calculation of the weighted average of capital. Lastly we finish by calculating the enterprise value and the associated equity value of Alaska Airlines.

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Video #3: Stryker Beta Estimation

This video works through the estimation of beta using both the regression and bottom up approach.

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Video #4: Gentex: Dealing with Equity Compensation

This video works through the a few different approaches to accounting for equity grants to employees in our valuations. Specifically how to deal with past option awards through either a treasury stock approach or directly valuing the options using Black Scholes.

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Video #5: Gentex: Sensitivity Analysis

This video works through a sensitivity analysis of our Gentex Valuation. Discussion includes the use of Data Tables and Scenario Manager in Excel. I also recap our valuation from start to finish. Note please use the Solution file from Video #4 as your starting point.

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Video #6: Teuer Furniture DCF

This video works through a bottom-up approach to forecasting and a DCF valuation of Teuer Furniture.

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Video #7: LTM Example

This video walks through a Last twelve month calculation for Microsoft, Best Buy, and Walt Disney as of November 2019.

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Video #8: Relative Valuation: Gentex

This video walks through a relative valuation using public trading comparables. Please note there is an (obvious) error around 31:30 mark, I copied over the value in Cell F24 (with F25), you should do the opposite and drag the F24 formula down to F25. The error is corrected in the attached solution. Also forgot to add 28 (Operating Lease, current) when calculating Net Debt for VC.

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Video #9: Advanced Excel

This video covers miscellaneous Excel skills including Pivot Tables, conditional formatting, basic graphing skills, concatenating, INDIRECT function, the group of TEXT based functions, and goal seek.

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Video #10: Football Field Chart

This video goes over the steps to building a football field chart.

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