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Essentials of Valuation and Financial Modeling

at Training The Street - Murray Hill

Course Details
$2,800 10 seats left
Start Date:

Tue, Jan 28, 6:30pm - Feb 20, 10:00pm (8 sessions)

Murray Hill, Manhattan
275 Madison Ave 12th Fl, Ste 1201
Btwn E 39th & E 40th Streets
New York, New York 10016
Early Bird Price, good until Jan 14th, $3800 thereafter.
Purchase Options
Class Level: All levels
Age Requirements: 18 and older
Average Class Size: 10

What you'll learn in this financial modeling training:

Developed with the working professional in mind, this 8 session course covers Financial Statement Analysis, Valuation, Financial Modeling, and Specialized Modeling.

Essentials Outline:

Sessions 1&2 – Financial Statement Analysis and Core Valuation Methodologies

Financial Statement Analysis

  • Analyzing a company’s income statement, balance sheet and cash flow statement
  • Why bankers stress the importance of EBIT and EBITDA
  • Calculation and decoding of financial ratios
  • Normalizing for non-recurring items
  • Calculating margins, growth rates, credit ratios
  • Interpreting footnotes and management discussions & analysis
Public Comparables Analysis
  • Choosing a peer group
  • Gathering public information (sources and SEC documents overview)
  • Spreading comparables – calculating Market and Enterprise Value, normalizing for non-recurring items, inputting the numbers, LTM, calculating multiples
Acquisition Comparables Analysis
  • Choosing a deal list
  • Concept of control premiums and synergies
  • Sample transaction list
  • Discounted Cash Flow Analysis
Strengths and considerations of a DCF analysis
  • Deriving a weighted average cost of capital (WACC)
  • Discounting unlevered free cash flows
  • Estimating the terminal value (exit multiple vs. perpetuity growth rate approach)
  • Determining the valuation range
Sessions 3&4 – Financial Modeling

Modeling Best Practices

  • Establishing modeling standards of consistency, efficiency and clarity
  • Introduction to short-cut keys and other Excel settings for efficiency
  • The “good, the bad and the ugly” of model formats and layouts
  • Creating flexible formulas, calculations and projections
  • Auditing financial models
  • Installation and functionality of TTS Macros
  • Building an Integrated Financial Model
Setting up and road mapping the modeling process
  • Efficiencies with entering and analyzing historical financials
  • Projecting revenues and operating performance
  • Constructing the balance sheet and cash flow statement
  • Forecasting operating/working capital
Sessions 5&6 – Financial Modeling

Building an Integrated Financial Model – continued
  • Projecting PP&E and intangible assets
  • Calculating cash flow from investing activities
  • Forecasting other long-term items
  • Building a detailed equity & shares schedule
  • Understanding the core accounting relationships when building an integrated model
  • Debt & interest schedule
  • Setting up a “cash sweep” for excess cash and building complex deficit financing options
  • Trouble shooting your model: controlling for circular references, balancing models, and making the model “deal ready”
  • Constructing and utilizing data tables to perform sensitivity analysis
  • Using your model in a “real world” deal situation including a DCF application
Sessions 7&8 – Merger Consequences and Leveraged Buyout Analyses

Merger Consequences Analysis

  • Overview of purchase accounting
  • Allocating the purchase price and creation of goodwill
  • Sample merger consequences impact: transaction assumptions, sources and uses, opening balance sheet, pro-forma income statement
  • M&A transaction considerations (stock vs. cash, social issues, etc.) and their impact on the financial statements
  • Break-even synergies and PE analysis
  • Key concepts and analysis: accretion / dilution, pro forma leverage and coverage ratios
Leveraged Buyout Analysis
  • Concept of an LBO and de-leveraging
  • LBO math
  • Capital structure determination
  • Utilizing a revolving credit facility and cash sweep
  • The characteristics of the different debt instruments
  • Differing viewpoints for LBO constituents
  • Internal rate of return analysis
  • Mechanics of constructing an LBO model
Target Audience
  • Industry professionals that want to improve their finance skill-set to enhance their job responsibilities, build job security and increase the possibility of promotion
  • Students who want to complement their course work with practical corporate valuation and financial modeling knowledge before starting their careers
  • Prospective lateral hires looking to gain a competitive advantage in advancing their career or securing a job in the financial services industry (private equity, investment banking, hedge funds, research, asset management, etc.)

Prior to the start of the course, each participant will need to do the following:
  • Complete a pre-reading exercise: this will be emailed out 1 week prior to the course, and will take 2-6 hours to complete depending on prior financial statement experience
  • Fundamental knowledge of financial accounting: TTS recommends our self-study, The Fundamentals of Financial Accounting and Analysis.
What to Bring
Each participant will need the following:
  • PC Laptop with an English version of Microsoft Excel, Word, and Adobe Acrobat Reader
  • USB memory stick ability (for file sharing and distribution)
  • Financial calculator, preferably the HP-12C or HP-17BII+
Thinking of bringing a Mac? Using a Mac for Financial Modeling presents several issues; the keyboards are different causing many of the shortcuts to be unavailable, as well as the functionality of Excel itself. It is highly recommended that all participants bring a PC to the session. If a Mac is the only option, we would recommend running Windows on your Mac.

Still have questions? Ask the community.

Refund Policy
Cancellations up to 14 days before the workshop will receive a full refund. Cancellations within 14 days of the workshop will not be refunded. Training The Street (“TTS”) reserves the right, at its sole discretion, to cancel workshops. If TTS cancels a workshop, payments are refunded in full.


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Start Dates (1)
Start Date Time Teacher # Sessions Price
6:30pm - 10:00pm TBD 8 $2,800
This course consists of multiple sessions, view schedule for sessions.
Thu, Jan 30 6:30pm - 10:00pm TBD
Tue, Feb 04 6:30pm - 10:00pm TBD
Thu, Feb 06 6:30pm - 10:00pm TBD
Tue, Feb 11 6:30pm - 10:00pm TBD
Thu, Feb 13 6:30pm - 10:00pm TBD
Tue, Feb 18 6:30pm - 10:00pm TBD
Thu, Feb 20 6:30pm - 10:00pm TBD

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