8/8/2019 Financial Modeling & Equity Valuation_Finatics

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8/8/2019 Financial Modeling & Equity Valuation_Finatics

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  Excel Essentials 

>  Introduction to Keyboard Accelerators

>  Manipulating & Formatting Rows/Columns, Borders & Sheets

>  Using the Paste Special box

>  COUNT, COUNTA, COUNTBLANK, AVERAGE, MAX, MIN,

ROUND, TRUNC and INT & ABS

>  Using Conditional Formatting>  Creating multi-dimensional formulas with ‘Referencing’ 

>  Nesting with the ‘IF’ function  

  Excel for Modeling & Presentation 

>  Using VLOOKUP & HLOOKUP

>  Using SUMIF, COUNTIF AND AVERAGEIF

>  Using the TRANSPOSE & SUMPRODUCT functions

>  Working with dates – DATEDIF, YEAR, YEARFRAC & MONTH

>  Sensitivity Analysis with Data Tables

>  Charting - Commonly used & 3 Axis charts 

>  Case Study 

Model Building Part I 

>  What is Financial Modeling ?

>  Best practices in Model Building

>  What’s a plug and why should it always be avoided ?

>  Analysis of ‘Plugs’ vs ‘Circular Referencing’ vs ‘No Plugs’ 

>  The Anatomy of a financial model: A bird’s eye view 

>  Why the ‘Percentage of Sales’ method is incorrect

  Model Building Part II 

>  Extracting data from an Annual Report

>  Introduction to the 3 statements

>  Restating financials for valuation and analysis

>  Comprehensive analysis of the Linkages between the 3

statements & How cash flows through each

>  The Common Size statement (Vertical & Horizontal Analysis)

>  Basic 3 statement model without ‘plugs’ 

  Model Building Part III 

>  Profitability Measures – How EBIT reflects true performance

(Gross, EBITDA and Net margin analysis included)

>  Calculation & Analysis of ROE & ROCE

>  Liquidity Analysis with the Cash Conversion Cycle

>  Risk Analysis – Types of risks and Analysis of DOL, DFL & DCL

>  Credit Analysis – Measuring & Analyzing IC & DSCR

> Case Study | Analyze performance of a listed company 

Day 6-7  Model Building Part IV 

>  The Assumption/Control Sheet

>  Opex, Capex & Working Capital

>  The concept of Maintenance & Expansion Capex

>  Depreciation Schedule (Waterfall Type)

>  The ‘right’ way of modeling Debt

>  Investments & Short term debt schedule>  Cash Flow drives balance sheet vs Balance sheet drives Cash Flow

>  Final Integration without ‘plugs’ 

Day 8  Valuation Fundamentals & FAQs 

>  Why do share prices move up?

>  Are dividends important? Do Share Buybacks create value ?

>  Does DCF really work? What is Value Creation? Who follows it ?

>  A Bird’s Eye view of the Enterprise DCF method  

>  Other Valuation methods in brief: Accretion/Dilution Analysis,

Transaction Comparables, LBO analysis, First Chicago

Approach, Replacement cost analysis & Real Options

Day 9  Revenue Build-up techniques 

>  3 approaches of building the backbone of your Valuation

>  Why do Statistical (Sequential) Methods fail?

>  What’s better – ‘Top-Down’ or ‘Bottom-up’? 

>  Building Operational drivers

>  Competitive Advantage Periods and Fade Rates

>  Case Study | Revenue Build up of a listed company 

Day 10-13  Calculating FCF, WACC & CV 

>  Which Cash Flow do I Choose – FCF(F) vs FCFE

>  FCF – Real world Calculation and Application

>  WACC – Real world Calculation and Application

>  Calculating Continuing Value –Gordon growth vs Exit Multiple

>  Calculating Enterprise Value and Value per share

>  3 Case Studies

Day 14-15  Trading Comparables 

>  Why use Multiples? Two approaches to use Multiples

>  Identifying the Peer Set

>  Calculating LTM/TTM & Calendarization

>  Analysis of Multiples – P/E, PEG, P/B, P/FCFE, EV/Sales,

EV/EBITDA, EV/EBIT & EV/FCF Sector Specific Multiples

>  Case Study | Application on a listed set of companies

Day 16  Revision 

Other Deta> 

Suitable for Professiand advanced stude

>  Option of weekday oweekend batches

>  Fast Paced option av

nancial Modeling refers to the process of building a structure that integrates the Balance Sheet, Incomeatement, Cash Flow Statement with supporting schedules to enable decision making in areas like, Businessanning and Forecasting, Equity Valuation, Credit Analysis/Appraisal, Merger/acquisition analysis, Projectppraisal etc. In each of the above areas, success of the deliverable to a large extent depends on the qualityf the Financial Model.

ertification in Financial Modeling & Valuation | 2 Months | 16 days

 

> Learning Excel be a one-time eve

an ongoing proce

throughout the p

> The focus on MFundamentals anIssues ensures thparticipant devel

strong foundatioAdvanced Mod

 

> A waterfall type

debt/depreciatio

schedule gives a realistic view of thfuture performan

> Extensive theory

FCF, WACC andContinuing Valuensure that you c

dodge pitfalls in world application

> Trading Compa

include myth-bus‘Why P/E is Ove

and a Step-by-sguide to applicat

interpretation ofMultiples

> Performance An

ensures solid grafundamentals and

you ready for reaanalysis

 

  Apply DCF Valuation on a listed company

  Apply Trading Comparables on a set of c ompanies

  Use MS Excel® for Data Modeling and Problem Solving while

never using the mouse again !!  Present results with Sensitivity Analysis & well for matted

Charts

  Apply performance and Credit Analysis techniques

  Analyze Revenue build-up techniques for Valuation and

Market Sizing

  Decode Financial jargon and uncover popular misconceptions

  Understand Ratios by identifying consistencies between the

involved metrics

Modeling &Valuation of a listecompany Included…7 Case Studiestoo!

8/8/2019 Financial Modeling & Equity Valuation_Finatics

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ere’s what the participants have to say… 

“…I found the financial modeling course to be extremely relevant for careersin investment banking and equity research. It was very practical, intuitive andhands-on realistic experience during the entire training period …I now feel

much more confident with Excel and finance concepts” Sagar Dhoot, Analyst, Riverhead Capital 

“…From being a "Nerdie CFA Level 3 candidate" and going to a confident applicant for a junior analyst's position…well I owe it all to Finatics …the tutors with their undividedattention and thorough guidance have helped me achieveclarity in my purpose and a strategy to translate my vision

into reality” 

Vatsala Bhatt, CFA L3 Candidate “…

The course was very comprehensive anddetailed than I thought it would be …(was a)tremendous value addition. The moment I cameback, two days later I got a job at CRISIL. Asa matter of fact I would have never cracked theinterview at CRISIL if not for the course.One and all I would recommend the course toeveryone who is looking for a career in

Security Valuation.” Neermoy Shah, Analyst, CRISIL 

“…What I really liked was the logical way in which the training was imparted. Beforecoming to Finatics, I had been to a very well known training institute, but theprospective trainers didn't impress me at all. Plus, the fee was unaffordable. I have alsoheard seasoned finance professionals speak very highly of the courses Finatics offers.The course has also helped me come up with better ideas at workplace. I'm looking 

forward to completing a more advanced course in financial modeling from the institute.” Karan Mudgal, Research Associate, vCustomer India 

“…The techniques taught at Finatics are unique and

comprehensive. The course helped me get complete

understanding of the complexities involved in valuing a company,

in a simple yet logical manner. Learning valuation was a greatexperience with Finatics” Sanket Dhanorkar , Research Analyst, Moneylife 

Rahul | +91 9096-119-299

Abhijit | +91 9766-498-350 

Related Programs 

quity Valuation (10 days)

cuses on Equity Valuation alone!

cludes DCF and Comparables.

dvanced Financial Modeling and Equity

aluation (5 months)vanced Modeling issues resolved,

depth coverage of Advanced Valuation

ues, Merger & LBO Modeling, Reverse DCF,

tailed Analysis of revenue build-up

chniques, Advanced Excel for modeling

cluded – personal attention assured!

Why Finatics ?

>  Personal Attention

>  Case Study based approach

>  Course Content regularly upgraded

>  Focus on Excel application

>  Hands-on Learning experience

>  Model Building without ‘plugs’ 

>  Analysis of Revenue Build up techniques

>  Comprehensive Take Home Material

>  Special Weekday Student Discount program

Rs. 65,000/-(All Inclusive) 40 days

Rs. 8,500/-(All Inclusive)

10 days

Participants have worked/working with companies like… 

  Amba Research

  Capgemini

  Crisil

  First Global

  Honeywell

  Irevna  JP Morgan

  MoneyLife

  KPIT-Cummins

  Pliris Capital

  Power Corporation of

Nigeria

  Reval Analytics

  Riverhead Capital

  Tata Capital  Transparent Value

  Worbus Management

Consulting