Course Highlights
  • At course completion, you will have developed a comprehensive "Wall Street quality" DCF model from scratch.
Curriculum

5 Topics
A Note on Course Materials
DCF Modeling Introduction
Enterprise Value vs. Equity Value
Book Value vs. Market Value
Cash Flow vs. Relative Valuation

7 Topics
DCF Overview
The 2 Stage DCF Approach
DCF vs. Comps in the Real World Part 1
DCF vs. Comps in the Real World Part 2
Unlevered vs. Levered DCF Approach
Unlevered vs. Levered Concept Check
DCF Implementation

9 Topics
Building a DCF from a fully integrated Financial Statement Model
Modeling Unlevered Free Cash Flows Part 1
Modeling Unlevered Free Cash Flows Part 2
Modeling the Terminal Value (TV) using the Perpetuity Approach
Exit Multiple Concepts
Modeling the TV using Exit Multiples
Understanding Net Debt
Modeling Net Debt
Company Specific Adjustments: Modeling Apple's Trapped Cash

8 Topics
Modeling Dilutive Securities
RSUs and Model Review
Shares Outstanding Overview
Shares Outstanding - Options
Shares Outstanding - Split & Dual Classes
Shares Outstanding - Convertible Preferred Stock
Shares Outstanding - Convertible Exercise
Shares Outstanding - Restricted Stock

5 Topics
WACC Concepts Part 1
WACC Concepts Part 2
WACC Concepts Part 3
WACC Concepts Part 4
Modeling WACC

4 Topics
Modeling an Implied Perpetuity Growth Rate
DCF Sensitivity Analysis
Constructing a "Football Field" Valuation Chart
LTM Summary Calculations

6 Topics
Midyear Adjustments in the DCF
Normalizing Terminal Year Free Cash Flows
Modeling Normalized Terminal Year Free Cash Flows
Industry Beta Concepts
Industry Beta Exercise
Industry Beta Modeling

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Build a DCF Valuation Model

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