Wall Street Prep

Sample Equity Research Report

Sell side equity research analysts primarily communicate their ideas through published equity research reports. In this article, we describe the typical components of a research report and show how they are used by both the ... Read More

Modeling the Revolving Credit Line in Excel (With Free Template)

In most 3-statement models, the revolving credit line (“revolver”) acts as a plug to ensure that debt automatically gets drawn to handle projected losses. Cash does the same thing when there's a projected surplus, such ... Read More

Guide to Forecasting the Income Statement

Forecasting the income statement is a key part of building a 3-statement model because it drives much of the balance sheet and cash flow statement forecasts. In this guide, we address the common approaches to forecasting ... Read More

Forecasting a Company’s Shares Outstanding and Earnings Per Share

One of the last steps in building a 3-statement financial model is forecasting shares outstanding. The share count matters because it tells you how much of a company is owned by each shareholder. In ... Read More

Guide to Balance Sheet Projections

Imagine that we are tasked with building a 3-statement statement model for Apple. Based on analyst research and management guidance, we have completed the company’s income statement projections, including revenues, operating expenses, interest expense ... Read More

How to Build an Integrated 3 Statement Financial Model

An integrated 3-statement financial model is a type of model that forecasts a company’s income statement, balance sheet and cash flow statement. While accounting enables us to understand a company’s historical financial statements, forecasting ... Read More

Working Capital: Formulas, Misconceptions and Real Examples

A key part of financial modeling involves forecasting the balance sheet. Working capital refers to a specific subset of balance sheet items. The definition of working capital (shown below) is simple: Working capital = Current ... Read More

Debt Accounting: Financing Fees

When a company borrows money, either through a term loan or a bond, it usually incurs third party financing fees (called debt issuance costs). These are fees paid by the borrower to the bankers, ... Read More

EFC: The top 30 Masters in Finance for getting a job in investment banking

Below is a link to efinancialcareer's ranking of the top Masters in Finance programs for getting a job in investment banking. For proper context to these rankings, the Masters in Finance is by no means ... Read More

Demystifying Financial Restructuring: Free Mini Course

In this 11-part free mini-course, you will learn about financial restructuring. The course is meant to introduce newbies to a high level overview of financial restructuring and set the stage for further more advanced analysis. ... Read More

X

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.