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.

Final Project Database Video Presentation Skills Review Final Study Guide DCF Overview Class Worksheet Valuation Template
Schedule
Jan. 12: Excel Workshop Day & Presentation Prep      Jan. 17: Group Presentations
HW1 is due by 11:00am on January 12.
Quiz 1 due by 11:59pm on January 22.

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 1

Schedule
Jan 19: Lecture Review & Lemonade Stand Example      Jan 24: Complete Example & Presentation Prep
Jan. 26: Group Presentation
HW 2 is due by 11:00am on January 24.
Quiz 2 is due by 11:59pm on January 29.

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 2

Schedule
Jan. 31: Video Review & Ratio Games      Feb. 2: California Choppers Case & Presentation Prep
Feb. 7: Group Presentation      Feb.9 : SILK Valuation Day #1
HW 3 is due by 11:00am on January 31.
HW 4 is due by 11:00am on February 2.
HW 5 is due by 11:00am on February 9.
Quiz 3 is due by 11:59pm on February 12.

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 Homework 5 Group Exercise 3

Schedule
Feb 14: Video Review & HW6 Prep.      Feb 16: SILK Valuation Day #2 & Presentation Prep
Feb 21: Group Presentations      Feb 23: M1 Feedback & Valuation Prep Time
HW 6 is due by 11:00am on February 16.
Quiz 4 is due by 11:59pm on February 26.

Discounted Cash Flow Valuation: Cash Flows

Introduction to Discounted Cash flow valuation. This lecture covers the basics of projecting future cash flows. Discussion includes modeling free cash flows directly and the process of forecasting. 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 Homework 6 Group Exercise 4

Schedule
Mar. 7: Video & HW7 Review      Mar. 9: SILK Valuation Part #3 & Case Prep.
Mar. 14 : Teuer Case A     
HW 7 is due by 11:00am on March 7.
HW 8 is due by 11:00am on March 14.
Quiz 5 is due by 11:59pm on March 19.

Discounted Cash Flow Valuation: Discount Rate

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 7 HW7 Template Homework 8 HW8 Template

Schedule
Mar. 16: Lecture Review & SILK Valuation Part #4      Mar. 21: Loose Ends
Quiz 6 is due by 11:59pm on March 26.

Discounted Cash Flow Valuation: Diluted Shares and Loose Ends

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.

View Slides Printer Friendly Slides Topics Practice Problems Group Exercise 5

Schedule
Mar. 23: Video Review & Case Prep      Mar. 28: Teuer Case B & Presentation Prep
Mar. 30: Group Presentation      Apr 4. SILK Valuation Part #5
HW 9 is due by 11:00am on March 28.
HW 10 is due by 11:00am on April 4.
Quiz 7 is due by 11:59pm on April 9.

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 9 Homework 10 Group Exercise 6

Schedule
April 11: Lecture     
Quiz 8 is due by 11:59pm on April 16.

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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Schedule
Apr 18: In-Class Workshop     
Quiz 9 is due by 11:59pm on April 24.

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.

View Slides Printer Friendly Slides Topics Practice Exercises Excel Video