Wall Street Prep

Advanced LBO Modeling Test: 4 Hour Example

In this post, we will go through an advanced, 4-hour LBO modeling test, step-by-step. If you are interviewing with the leading upper-middle market firms and mega-funds, you should prepare to encounter an Advanced LBO ... Read More

Real Estate Financial Modeling Tutorial

In this article, we will walk you through a back-of-the-envelope ("BoE") Multifamily Acquisition Model that introduces some of the core real estate financial modeling concepts and those tested during the real estate private equity ... Read More

RIP INDEX MATCH? Here's an example where XLOOKUP Loses

XLOOKUP has been crowned the new king of Excel reference functions, even defeating the mighty index match. But it's not a complete victory. Here is an example of Index Match (more accurately - INDEX ... Read More

XLOOKUP is Magic: Using XLOOKUP to Generate Multiple Values

Below is a short tutorial on using XLOOKUP to instantly generate multiple values with just 1 formula. Download the Excel file that goes with this lesson below.

Scenario Analysis Using XLOOKUP

XLOOKUP simplifies building a scenario analysis significantly.  Why does this matter? In corporate finance, one of the most common use cases for index match was building scenarios. If this video goes a bit too ... Read More

Nested (Two-Way) XLOOKUP vs Index Match Match [VIDEO and Excel File]

As we've discussed in a prior lesson, XLOOKUP is a game changer - replacing VLOOKUP and HLOOKUP and eliminating many use cases where more complicated INDEX MATCH functions needed to be used. In this ... Read More

XLOOKUP in Excel: Why it Rocks and Comparison to VLOOKUP and Index Match

XLOOKUP is a new Excel function announced in 2019 and broadly released in 2020 that significantly improves some of the most common lookup and reference tasks Excel users encounter on the job. If you're ... Read More

Leveraged Buyout (LBO) Modeling: 1 Hour Practice Test

The LBO Modeling Test is the most common type of modeling test an interviewee will be given during the private equity recruiting cycle. The LBO modeling test we'll go through here reflects the level of ... Read More

Cash-Free Debt-Free: Why It's Used and Impact on Enterprise Valuation

Cash-free debt-free simply means that when an acquirer buys another company, the transaction will be structured such that the buyer will not assume any of the debt on the seller's balance sheet, nor will ... Read More

LBO Modeling Test: Real Example

The LBO Modeling Test refers to a common interview exercise during the later stages of the private equity recruiting process, which usually works as follows: The interviewee will usually receive a "prompt" – a ... Read More


The Wall Street Prep Quicklesson Series

7 Free Financial Modeling Lessons

Get instant access to video lessons taught by experienced investment bankers. Learn financial statement modeling, DCF, M&A, LBO, Comps and Excel shortcuts.