I will post videos to this page throughout the semester. The videos will mostly be solutions to homework or in-class Excel exercises; the videos are not a replacement for my lectures. Videos should not be used in lieu of coming to class. Excel can be difficult to learn therefore I make these videos in case you get lost in class and need to revisit a topic. Please use them as an additional resource to help learn valuation and modeling. Disclaimer: Values may be different depending on when video was made and when you are watching.
This video goes over basic formatting and introduces students to shortcut keys in Excel. Note this video is a summary of the material covered in WSP Excel Crash Course.
Watch on Vimeo Back to Video ListThis video goes over the Class Worksheet from Basic Excel. It covers functions related to time value of money, statistical function, logical functions, lookup functions, and custom formatting.
Template Solution Watch on Vimeo Back to Video ListThis video goes over the Class Exercise from Financial Statement analysis. It covers calculating a common-size balance sheet and income statement for Edwards Lifesciences (EW). We also cover a range of ratio calculations. Lastly we briefly discuss interpreting the numbers.
Template Solution Watch on Vimeo Back to Video ListThis video goes over calculating the projected unlevered free cash flows for Gentex Corp. Topics include pulling in historical data dynamically, estimating sales growth and other important inputs using the 10K, analyst reports, and earnings call transcript, calculating NWC, and proper modeling formatting.
Template Material Solution Watch on Vimeo Back to Video ListThis video is additional practice calculating unlevered cash flows for Alaska Air. The video focuses mainly on the calculation and alternative approaches to those used in the Gentex example.
Template Solution Watch on Vimeo Back to Video ListThis 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. Note: Do not use average debt for WACC calculation of capital structure weights; only done in video to show a non-zero debt value.
Template Solution Watch on Vimeo Back to Video ListThis 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.
Template Solution Watch on Vimeo Back to Video ListThis video works through the estimation of beta using both the regression and bottom up approach.
Template Solution Watch on Vimeo Back to Video ListThis 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.
Template Solution Watch on Vimeo Back to Video ListThis 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 #16 as your starting point.
Solution Watch on Vimeo Back to Video ListThis video walks through a Last twelve month calculation for Microsoft, Best Buy, and Walt Disney as of November 2019.
Template Solution Watch on Vimeo Back to Video ListThis 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.
Template Solution Watch on Vimeo Back to Video ListThis video goes over the steps to building a football field chart.
Template Solution Watch on Vimeo Back to Video ListThis 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.
Template Solution Watch on Vimeo Back to Video List