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WSO Free Modeling Series - Now Open Through
September 30, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
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I did a modelling test when I joined 6 months ago. Mine was a 2 hour DCF test. Had to do upper, mid and low cases, create a few assumptions based on a sheet, and there was some analysis on debt repayments. Came from a non IB background and found it fine.
Could you elaborate more what was the analysis on debt repayments?
Thought that in DCF one assumes that the capital structure is constant - unless the debt repayments were related to 3 statements model and separate debt waterfall etc.
The debt repayment schedule was separate to the DCF (apart from determing Net Cash / Debt position). It was more of a test to see if you knew how debt repayments work with rest of the balance sheet (we do a fair amount of restructuring which is why I think it was tested)
Could I DM you with specific questions?
Sure
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