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◆ Models I · drill · Financial Modeling Keyboard Mastery track

Build the football field

each method answers with a range, not a number — the reference range is the envelope of all of them, never an average of them.
The board meets Thursday and the valuation summary is the page the chairman turns to first. Six methodologies are back from the team and every one of them answered with a range rather than a number. Put them on one per-share axis: the midpoint of each range, the premium each midpoint implies against the unaffected price — the last close before the approach leaked — and then the reference range itself, the lowest low and the highest high across all six, with the distance between them. Put an outside border around the reference range before the page goes into the pack. The page anchors somewhere new every run.
train this drill → par 65s · optimal 60 keys · keyboard only · free
The shortcuts in this drill
Alt walks: tap Alt, release, then the letters in sequence — each key steps one ribbon menu. On a Mac, tap and use the same letters (KeyTips, Excel 2024+).
Ctrl+D⌘D on macFill down from the cell above
Build the logic once in the top cell, select down, and stamp it — the standard way to fill a schedule.
Alt h b s⌥ h b s on macOutside borders
OUTSIDE border (S for outSide) — ONE frame around the selection’s perimeter, interior clean. The finished-table look; A is the grid of lines, S is the frame.
Ctrl+S⌘S on macSave
functions you'll type: MIN() · MAX()
The optimal line
the par-setting sequence, straight through:
E6 =(C6+D6)/2 · fill E6:E11 ctrl+d · F6 =E6/$C$17-1 · fill F6:F11 · C13 =MIN(C6:C11) · C14 =MAX(D6:D11) · C15 =C14-C13 · outside border B13:C15 alt h b s · ctrl+s
More Models I drills
Build the discount rate
Unlever a five-comp beta set, relever at your own structure, weight both sides
Build the unlevered FCF
EBIT → less taxes → NOPAT → plus D&A, less capex and the NWC build: the row every DCF disc
Discount the cash flows
Discount factors × free cash flows build the present-value row; a Gordon terminal value an
Run the comps
Build both enterprise-value multiples across the peer set, read the median, high and low,
← Transaction Comps Sensitivity → all 74 drills
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