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Financial Valuation and Deal Modeling with Excel

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Financial Valuation and Deal Modeling with Excel

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Gain insight into a topic and learn the fundamentals.
Advanced level

Recommended experience

2 weeks to complete
at 10 hours a week
Flexible schedule
Learn at your own pace

Gain insight into a topic and learn the fundamentals.
Advanced level

Recommended experience

2 weeks to complete
at 10 hours a week
Flexible schedule
Learn at your own pace

What you'll learn

  • Construct comprehensive Discounted Cash Flow (DCF) models from scratch.

  • Perform comparable company and precedent transaction analyses.

  • Build project finance waterfalls and complex valuation models.

  • Apply advanced NPV and XNPV calculations in financial decision-making.

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Recently updated!

April 2026

Assessments

42 assignmentsΒΉ

AI Graded see disclaimer
Taught in English

Build your Finance expertise

This course is part of the Excel Financial Modeling Mastery: In-Depth Training Professional Certificate
When you enroll in this course, you'll also be enrolled in this Professional Certificate.
  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate from Coursera

There are 10 modules in this course

Financial Valuation and Deal Modeling with Excel is a deep-dive course for financial professionals who want to develop expert-level skills in creating comprehensive valuation models. This intensive course teaches you to construct sophisticated financial models used in investment banking, corporate finance, and strategic decision-making.

You'll learn to build Discounted Cash Flow (DCF) models from the ground up, perform rigorous comparable company and precedent transaction analyses, and develop complex valuation techniques used by top-tier financial professionals. The course covers advanced Excel techniques for creating intricate financial models that can assess company value, support mergers and acquisitions, and provide critical insights for high-stakes financial decisions. Practical sessions focus on real-world scenarios, including project finance waterfalls, Net Present Value (NPV) calculations, and advanced valuation methodologies. You'll practice building models that are not just technically sound, but also capable of telling a comprehensive financial story. Who this is for: Investment analysts, corporate finance professionals, financial consultants, and business strategists looking to elevate their financial modeling and valuation skills. Strong financial analysis background and advanced Excel skills recommended.

This module provides a focused introduction to fundamental business valuation methodologies. You will begin by mastering the core definitions and theoretical frameworks of industry-standard valuation approaches. Transitioning from theory to practice, the curriculum emphasizes the application of a professional-grade Discounted Cash Flow (DCF) template. Using provided financial inputs, you will learn to execute precise calculations to determine a company's enterprise value. By bridging the gap between conceptual knowledge and technical Excel modeling, this module ensures you can confidently build a DCF analysis and interpret the resulting financial narrative for real-world decision-making.

What's included

3 videos3 readings5 assignments

3 videosβ€’Total 18 minutes
  • Choosing the Right Tool for the Jobβ€’8 minutes
  • How-To: Populate the DCF Model in Excelβ€’4 minutes
  • How-To: Run a Sensitivity Analysis in Excelβ€’6 minutes
3 readingsβ€’Total 16 minutes
  • Blueprint of Valuation: DCF, Comps, and Precedentsβ€’5 minutes
  • The Anatomy of a DCF Modelβ€’5 minutes
  • Decoding the Discount Rate (WACC)β€’6 minutes
5 assignmentsβ€’Total 70 minutes
  • Knowledge Check: Valuation Methodologiesβ€’5 minutes
  • Hands-On Learning: Calculate Enterprise Value with a DCF Modelβ€’15 minutes
  • Knowledge Check: DCF Model Applicationβ€’5 minutes
  • Hands-On Learning: Quantify the Impact of the Discount Rateβ€’15 minutes
  • Valuation Memoβ€’30 minutes

This module focuses on mastering the mechanics of investment valuation. You will start by learning to recognize core financial formulas and the fundamental economic concepts that drive them. Moving into practical application, you will gain hands-on experience using NPV and XNPV functions to accurately value diverse cash flow streams. By differentiating between periodic and irregular flows, you will build robust models to compare investment opportunities. This module bridges the gap between theory and practice, ensuring you can apply the correct mathematical logic to deliver precise, data-driven project appraisals and professional financial analyses.

What's included

4 videos2 readings5 assignments

4 videosβ€’Total 30 minutes
  • The Real Cost of Ignoring Cash Flow Timingβ€’8 minutes
  • Building Your First Valuation Model with NPVβ€’8 minutes
  • Understanding XNPV: Key Conceptsβ€’7 minutes
  • Modeling Irregular Cash Flows with XNPVβ€’8 minutes
2 readingsβ€’Total 18 minutes
  • The Language of Value: Deconstructing the NPV Formulaβ€’9 minutes
  • When Regular Payments Aren't Reality: Introducing XNPVβ€’9 minutes
5 assignmentsβ€’Total 80 minutes
  • Hands-On Learning: Recall and Apply NPV Fundamentalsβ€’20 minutes
  • NPV Fundamentals Quizβ€’5 minutes
  • Hands-On Learning: Proficiency in Present Value Calculationsβ€’20 minutes
  • Advanced Valuation with XNPV and Comparative Analysis Quizβ€’5 minutes
  • The "Efficiency vs. Expansion" Capital Budgeting Decisionβ€’30 minutes

This module equips finance and business professionals with the essential skills to master project finance dynamics. You will first explore the key project finance phases, gaining a clear understanding of their chronological relationships from initial construction through long-term operations. Building on this foundation, you will apply a cash-flow waterfall model to prioritize outflows, service debt, and project cash balances. By simulating real-world scenarios, you will learn to ensure solvency and calculate distributions to stakeholders. By the end, you will possess a professional toolkit to forecast project viability and make data-driven decisions throughout a project's lifecycle.

What's included

4 videos4 readings4 assignments

4 videosβ€’Total 19 minutes
  • Channel Tunnel: When Forecasts Failβ€’6 minutes
  • Anatomy of a Cash Flow Waterfallβ€’5 minutes
  • Modeling the Numbers: From Revenue to CFADSβ€’5 minutes
  • Completing the Waterfall: Modeling Debt and Equityβ€’4 minutes
4 readingsβ€’Total 23 minutes
  • The Three Acts of a Project's Financial Lifeβ€’7 minutes
  • Blueprint for a Bulletproof Model: Structuring Your Excel Fileβ€’6 minutes
  • Interpreting the Results: What the Numbers Tell Youβ€’5 minutes
  • Formulas for Forecasting: Key Excel Functionsβ€’5 minutes
4 assignmentsβ€’Total 75 minutes
  • Hands-On Learning: Setting Up Your Project Model in Excelβ€’20 minutes
  • Knowledge Check: Project Finance Foundationsβ€’5 minutes
  • Hands-On Learning: Analyzing Solvency: The Final Checkβ€’20 minutes
  • Model a Mini Solar Projectβ€’30 minutes

This module transforms your approach to financial oversight by bridging the gap between theory and rigorous audit. You will analyze detailed case studies to pinpoint exactly how flawed assumptions distort financial outcomes and lead to significant valuation errors. Parallel to case analysis, you will master technical verification by evaluating financial models against a comprehensive professional checklist. This systematic review ensures structural integrity, logical consistency, and robust documentation. By synthesizing these skills, you will move beyond simple data entry to critically auditing model architecture, ensuring every projection is grounded in sound logic and verified accuracy.

What's included

5 videos3 readings5 assignments

5 videosβ€’Total 27 minutes
  • Trace Errors: From Flawed Assumption to Failed Valuationβ€’7 minutes
  • Why Checklists Matter: The Cost of "Good Enough"β€’5 minutes
  • From Gut Feeling to Evidence: The Three Pillars of Model Auditingβ€’5 minutes
  • From Analyst to Advisor: The Power of a Good Critiqueβ€’5 minutes
  • Final Project Walkthrough: From Audit to Submissionβ€’5 minutes
3 readingsβ€’Total 30 minutes
  • Anatomy of a Flawed Model: Lessons from Enronβ€’10 minutes
  • The QA Checklist in Practice: The LTCM Lessonβ€’10 minutes
  • How to Write and Visualize a Defensible Critiqueβ€’10 minutes
5 assignmentsβ€’Total 75 minutes
  • Hands-On Learning: Practice Analysis: Quantifying the WeWork Flawβ€’15 minutes
  • Knowledge Check: Principles of Model Deconstructionβ€’5 minutes
  • Hands-On Learning: Practice Audit: Applying the QA Checklistβ€’20 minutes
  • Knowledge Check: First-Pass Auditβ€’5 minutes
  • The Financial Model Auditβ€’30 minutes

This module provides a rigorous framework for mastering comparable company analysis. You will learn to strategically select peer groups by identifying companies with similar operational and financial profiles. The curriculum focuses on calculating essential valuation multiples such as EV/EBITDA and P/Eβ€”to establish credible market ranges. Beyond calculation, this module emphasizes critical evaluation. You will develop the expertise to justify your peer set selections and refine data by identifying and excluding statistical outliers. By synthesizing these outputs, you will gain the confidence to provide robust valuation conclusions that drive informed investment and strategic decision-making.

What's included

3 videos1 reading3 assignments

3 videosβ€’Total 20 minutes
  • The Power and Pitfalls of Comps: Lessons from the Salesforce-Slack Acquisitionβ€’6 minutes
  • Selecting Your Peers: The Art of Finding Truly Comparable Companiesβ€’6 minutes
  • Building a Comps Sheet in Excelβ€’8 minutes
1 readingβ€’Total 8 minutes
  • From Anatomy to Calculation: A Practical Guide to Comps Analysisβ€’8 minutes
3 assignmentsβ€’Total 50 minutes
  • Hands-On Learning: Build Your Own Comps Analysisβ€’15 minutes
  • Knowledge Check: Core Concepts of Compsβ€’5 minutes
  • Valuation Analysis and Recommendationβ€’30 minutes

This module empowers financial analysts to master the intricacies of M&A data transformation. You will learn to analyze historical transaction data by precisely adjusting for transaction-specific synergies and control premiums to ensure valuation accuracy. The curriculum focuses on evaluating the reasonableness of transaction multiples through the systematic organization and analysis of comparable deal data. By normalizing complex datasets and mastering benchmarking techniques, you will create consistent comparisons that reflect true market dynamics. This module bridges the gap between raw data and actionable intelligence, enabling you to construct robust valuation models grounded in rigorous data evaluation.

What's included

3 videos1 reading3 assignments

3 videosβ€’Total 17 minutes
  • Why Normalization Matters?β€’5 minutes
  • Decoding the Data: Identifying Transaction-Specific Factorsβ€’6 minutes
  • Normalizing M&A Data and Calculating Premiums in Excelβ€’5 minutes
1 readingβ€’Total 8 minutes
  • The Analyst's Guide to M&A Data Transformationβ€’8 minutes
3 assignmentsβ€’Total 50 minutes
  • Hands-On Learning: M&A Data Transformation in Actionβ€’15 minutes
  • Knowledge Check: Core Principles of M&A Valuationβ€’5 minutes
  • M&A Valuation and Data Analysis Reportβ€’30 minutes

This module equips you to master the Discounted Cash Flow (DCF) methodology for professional valuation. You will design and build a modular DCF template featuring dynamic forecasting periods for maximum flexibility. The curriculum focuses on the technical precision required to compute the Weighted Average Cost of Capital (WACC) and determine accurate terminal values. Beyond construction, you will learn to rigorously evaluate model integrity by verifying underlying calculations and financial balances. Through hands-on application, you will gain the skills to produce defensible, error-free valuations essential for high-stakes investment appraisal and strategic decision-making.

What's included

6 videos3 readings6 assignments

6 videosβ€’Total 46 minutes
  • Valuing High-Growth Techβ€’6 minutes
  • Conceptual Walkthrough: Deriving the Key Componentsβ€’8 minutes
  • From Spreadsheet to Boardroomβ€’7 minutes
  • Calculating Enterprise Value in Excelβ€’9 minutes
  • The Problem with Static Modelsβ€’8 minutes
  • Building a Dynamic and Validated Model in Excelβ€’7 minutes
3 readingsβ€’Total 17 minutes
  • The Three Pillars: FCF, WACC, and Terminal Valueβ€’6 minutes
  • The Mechanics of Discountingβ€’6 minutes
  • Anatomy of a Modular and Auditable DCF Modelβ€’5 minutes
6 assignmentsβ€’Total 80 minutes
  • Hands-On Learning: Deconstruct a Valuation Scenarioβ€’15 minutes
  • Knowledge Check: DCF Componentsβ€’5 minutes
  • Hands-On Learning: Calculate Enterprise Valueβ€’20 minutes
  • Knowledge Check: Applying the DCF Methodologyβ€’5 minutes
  • Knowledge Check: Model Creation and Validationβ€’5 minutes
  • Comprehensive DCF Valuation of a Public Companyβ€’30 minutes

This module equips you with the technical expertise to evaluate complex infrastructure and investment ventures. You will master the construction of comprehensive project finance models from scratch, specifically integrating sophisticated debt schedules and multi-tiered equity waterfalls. Beyond structural modeling, this module emphasizes rigorous valuation techniques. You will analyze long-term financial viability by conducting scenario analysis to stress-test project resilience and calculating Net Present Value (NPV) to determine profitability. By synthesizing these metrics, you will develop the data-driven insights necessary to provide "go/no-go" recommendations for high-stakes investment committees.

What's included

4 videos5 readings5 assignments

4 videosβ€’Total 29 minutes
  • The Downside Case Matters Mostβ€’6 minutes
  • How to Analyze Scenarios in a Modelβ€’6 minutes
  • Forecasting Project Cash Flowsβ€’7 minutes
  • How to Build a Sculpted Debt Scheduleβ€’9 minutes
5 readingsβ€’Total 35 minutes
  • Understanding the DSCR Covenantβ€’6 minutes
  • What is Scenario Analysis?β€’6 minutes
  • A Lesson in Flawed Assumptionsβ€’8 minutes
  • Anatomy of a Project Finance Modelβ€’8 minutes
  • How to Structure an Equity Waterfallβ€’7 minutes
5 assignmentsβ€’Total 85 minutes
  • Hands-On Learning: Project Viability Assessment Drillβ€’20 minutes
  • Knowledge Check: Analytical Conceptsβ€’10 minutes
  • Hands-On Learning: Build the Model Skeletonβ€’15 minutes
  • Impact of Interest Rate Change on a Project Finance Modelβ€’10 minutes
  • Build and Evaluate a Renewable Energy Project Finance Modelβ€’30 minutes

This module empowers financial professionals to transform historical inaccuracies into strategic assets. Participants will analyze past financial models to pinpoint the precise root causes of forecast errors, ranging from flawed logic to data inconsistencies. Beyond identifying failures, you will evaluate successful adaptations from complex projects to synthesize a best-practice checklist for future applications. Through hands-on labs, you will bridge the gap between error detection and process refinement. By the end of this module, you will be equipped to implement a robust improvement plan that ensures higher model reliability and precision.

What's included

3 videos3 readings5 assignments

3 videosβ€’Total 19 minutes
  • How-To: Deconstruct a Failed Modelβ€’7 minutes
  • How-To: Build a Checklist in Excelβ€’7 minutes
  • Why Good Analysis Isn't Enoughβ€’6 minutes
3 readingsβ€’Total 15 minutes
  • Frameworks for Failure Analysisβ€’5 minutes
  • From Success to System: The Art of Knowledge Transferβ€’5 minutes
  • Closing the Loop: From Insight to Actionβ€’5 minutes
5 assignmentsβ€’Total 75 minutes
  • Hands-On Learning: Identify the Root Causeβ€’10 minutes
  • Knowledge Check: Root Cause Analysisβ€’5 minutes
  • Hands-On Learning: Draft a Checklist Itemβ€’25 minutes
  • Knowledge Check: Effective Checklist Designβ€’5 minutes
  • Connecting an Insight to an Actionβ€’30 minutes

This module empowers you to construct defensible, deal-ready financial models for complex acquisitions. You will develop a modular Excel portfolio artifact featuring a dynamic DCF analysis with integrated WACC calculations and selectable terminal methods. Beyond core valuation, you will master comparable company and precedent transaction analysis through rigorous normalization and peer selection. The curriculum bridges technical precision and strategic judgment, ensuring model integrity through automated audit sheets. This module culminates in the creation of a presentation-ready summary designed to communicate high-level investment recommendations and transaction adjustments effectively, providing you with a high-impact artifact for your professional portfolio.

What's included

2 readings1 assignment

2 readingsβ€’Total 11 minutes
  • Why This Project Matters: Building a Defensible Valuation and Deal Modelβ€’4 minutes
  • Your Project Blueprint: Requirements and Evaluationβ€’7 minutes
1 assignmentβ€’Total 109 minutes
  • Project: Valuation and Deal Model (Portfolio Artifact)β€’109 minutes

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Frequently asked questions

This course goes beyond basic valuation, teaching professional-grade techniques used in investment banking and corporate finance for complex deal modeling and company assessment.

Advanced Excel skills are strongly recommended. The course assumes proficiency with complex formulas, financial functions, and sophisticated spreadsheet techniques.

You'll learn the exact valuation techniques used by top investment banks and corporate finance teams to assess company value, support M&A decisions, and create defensible financial projections.

To access the course materials, assignments and to earn a Certificate, you will need to purchase the Certificate experience when you enroll in a course. You can try a Free Trial instead, or apply for Financial Aid. The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.

When you enroll in the course, you get access to all of the courses in the Certificate, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile.

Financial aid available,

ΒΉ Some assignments in this course are AI-graded. For these assignments, your data will be used in accordance with Coursera's Privacy Notice.