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Financial Valuation: What’s the stock really worth?
Florentin Zander
Florentin Zander
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Financial Valuation: What’s the stock really worth?

Build a comprehensive 3-statement model, forecast key KPIs, and develop a full Discounted Cash Flow (DCF) valuation for a company of our choice.

Register today
Apply now
Wednesdays
 at
7:00
P.M.
 ET /
4:00
P.M.
PT
8 weeks, 2-3 hours per week
Intermediate
No experience required
No experience required
Some experience required
Degree and experience required

Description

In this Build project you’ll think about a company like a financial analyst at an Investment Bank, Private Equity firm, or Hedge Fund. As a group, we will choose a stock to value. Individually, you will build a full 3-statement financial model and use it for your own DCF valuation of the company. You will use publicly available data to build an income statement, a balance sheet, and a cash flow model. Then, you will project key financial figures into subsequent years. Finally, you will use these assumptions to assess the fair valuation of the company. Familiarity with these techniques will help with understanding what a career in investment banking or investing may look like.

Session timeline

  • Applications open
    December 1, 2024
  • Application deadline
    January 15, 2025
  • Project start date
    Week of July 8, 2024
    Week of
    February 3, 2025
  • Project end date
    Week of

What you will learn

  • Access and interact with public company filings from sources including EDGAR and Company Investor Relations
  • Project key KPIs using publicly available data and build out-year Cash Flow and Earnings forecasts
  • Create a DCF Valuation and develop intermediate Excel techniques including sensitivity analysis

Project workshops

1
Introduction
2
Obtain Financial Data
3
Build a Forecast
4
Refining Forecasts
5
Laying the groundwork for a DCF
6
Finalizing the DCF
7
Sensitivity Tables
8
Presentations

Prerequisites

  • Understanding of accounting, including what an income statement, balance sheet, and cash flow statement are (advanced knowledge of the individual line items for these statements is not needed). Familiarity with terms like “revenue”, “operating profit”, “assets”, “liabilities” is a useful benchmark.
  • Operating knowledge of Microsoft Excel. Understand how to write formulas. You do not need to know concepts like “pivot tables” coming into the project.
  • Basic understanding of Corporate Finance, such as what Equity and Debt are.

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About the expert

Florentin is a finance Build Fellow at Open Avenues Foundation, where he works with students leading projects in financial analysis.

Florentin is an analyst at Citadel Securities, where he is involved in equities trading. As a fundamental analyst on a trading desk, Florentin provides fundamental overlay to the desk’s trading strategies. This includes bottoms-up valuation of individual companies or top-down analysis of sector- or country-level themes.

Florentin has over 3 years of experience in trading. He graduated from Yale with a degree in Economics. At university, he studied models for risk propensity in decision-making and tested those models empirically.

After a short stint in investment banking, Florentin switched paths to an investing and trading-driven role at Citadel Securities. His experiences make him a useful resource for questions on a career in investment banking, private equity, or hedge funds.

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