I am currently attempting to practice my modeling due to the skill's importance when attempting to lateral. The thing is I am having trouble tackling all of the different one-off scenarios as well as checking my work.

Does anyone know of a site that has compiled 3 statement and DCF models against which I can check my work, or any general modeling advice?

My main stumbling point is when I encounter line items in companies' statements that I haven't seen before. Say, redeemable interest or deferred taxes on the B/S. Do you roll these into other accounts or keep them broken out separate?

It seems like you need to have modeling skills to break into an IB but it appears to be extremely difficult to develop those skills without a BB training program. Does anyone have any pointers? ty.

should the increase in EBO be added back to calculate the cash flow statement? im using the indirect method.. thanks!

Hi!
Did McKinsey improve their DCF Model in 2010?
I have their 2005 model and I wonder if I should buy the new one.
Martin

Company I'm analyzing for a project has low Capex investments but has acquired 2 subsidiaries in the past 2 years as shown below:

2010 2011
Capex 51 60
Investments in subsidiaries 7,012 6,550

While forecasting capex as a percentage of sales, the figures are obv low.

Would like some input from someone in the industry as to how they would approach this scenario i.e. to incorporate the subsidiary investments. Or should that be ignored and my capex inputs just increased for future.

Relating to the same model, if a company has an associate in which it holds 50% interest, should that be included in the FCF?

Thanks in advance for your help.

I'm currently trying to build my own DCF model. I've studied the Rosenbaum format as laid out in his Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions.

Does anyone have any excel files of DCF models they've made themselves or at work that I could go off of? I would like to get a feel for another one.

Anything will help!

Hey this is kind of last minute but I have a 3hr modeling exam very soon for a Equity Research position. What should I expect? What is the best way to prepare for this? Does anyone have a model template that resembles what the exam will look like? Thanks in advance to anyone who can help me -- it would be much appreciated.

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Hi,

How would I go about modeling the stock price 2 to 5 years from now? Would you just extend the forecasted period by the necessary number of years or use a different approach?

Hi,

I am analysing a media company and when considering the Capex on the cash flow statement, it only includes PP&E. However, the company has substantial "programming costs" as it purchases rights for programming. The programming costs go straight to P&L and are not part of the inventory. I am wondering whether I should in the FCF calculation use only the Capex that is on the CF statement, or include the investment in programming, or a change in programming, as well.

Any thoughts?

Thanks

What are other careers besides investment banking , consulting and PE that require a lot of financial modeling, revenue projections, etc.? The thing that appeals to me about banking is that it is quantitative (the modeling aspect), forward looking (compared to accounting) and really requires one to understand businesses and their strategies, competitive advantages, etc. very well in order to do well. Are there any other careers that allow one to really see how businesses work and involve financial modeling like banking?

I've been working on a model for a newer, very high-growth company that sells protective coverings for electronics. Basically, when calculating free cash flow to the firm, if I change my assumption regarding an increase in NWC by only 1%, my FCFF decreases by almost $1 mm (about a 25% decrease for this company).

Is it normal for this to happen for newer very high-growth companies? Should net working capital growth be pretty much in line with sales growth, and should it have such a major impact on FCFF in this company's case?

Thanks for any help/advice you can offer.

Can anyone send me a detailed DCF Model ?I need to look it at to prepare for an interview, and to practice a little bit.

Much appreciated.