Training Course on Financial Modeling and Valuation for Investment Banking Analysts

Course Outline

Module 1: Introduction to Financial Modeling and Investment Banking Context

ü  Overview of Investment Banking: divisions, roles, and deal lifecycle

ü  The importance of financial modeling and valuation in investment banking

ü  Types of financial models and their applications (e.g., 3-statement, DCF, LBO, M&A)

ü  Ethical considerations in financial modeling and valuation

ü  Practical Session: Deconstructing a simple financial model and discussing its purpose in a deal context

Module 2: Excel Proficiency for Financial Modeling

ü  Essential Excel functions and formulas for finance (SUM, IF, VLOOKUP, INDEX-MATCH, NPV, IRR etc.)

ü  Data tables, scenario analysis, and sensitivity analysis tools

ü  Best practices for model structure, formatting, and error checking

ü  Keyboard shortcuts and efficiency tips for speed and accuracy

ü  Practical Session: Timed Excel exercises focused on speed, accuracy, and best practice formatting

Module 3: Financial Statement Analysis and Key Ratios

ü  Deep dive into the Income Statement, Balance Sheet, and Cash Flow Statement

ü  Understanding the linkages between the three financial statements

ü  Calculating and interpreting key financial ratios (liquidity, profitability, solvency, efficiency)

ü  Normalizing financial statements for non-recurring items

ü  Practical Session: Analyzing the financial statements of a public company and calculating key performance indicators

Module 4: Building the Core 3-Statement Financial Model - Part 1

ü  Setting up the model: historical data input and formatting

ü  Projecting the Income Statement: revenue drivers, cost of goods sold, operating expenses

ü  Building the supporting schedules: working capital, depreciation, amortization

ü  Understanding circular references and how to manage them (iteration, manual switches)

ü  Practical Session: Starting the construction of a 3-statement model for a case study company – historicals and income statement projections

Module 5: Building the Core 3-Statement Financial Model - Part 2 & Forecasting

ü  Projecting the Balance Sheet: assets, liabilities, and equity accounts

ü  Projecting the Cash Flow Statement: operating, investing, and financing activities

ü  Balancing the model and ensuring consistency across statements

ü  Techniques for forecasting key assumptions and drivers

ü  Practical Session: Completing and balancing the 3-statement model, including debt and equity schedules

Module 6: Valuation Methodologies: An Overview

ü  Intrinsic vs. Relative valuation approaches

ü  Understanding the theoretical underpinnings of different valuation methods

ü  Key considerations: choosing the right methodology, data sources, common pitfalls

ü  Introduction to "Football Field" valuation summary charts

ü  Practical Session: Group discussion on selecting appropriate valuation methods for different company types and scenarios

Module 7: Comparable Company Analysis (CCA)

ü  Selecting a relevant peer group of comparable public companies

ü  Gathering financial data and calculating key trading multiples (e.g., P/E, EV/EBITDA, EV/Sales)

ü  Spreading comps: normalizing for accounting differences and non-recurring items

ü  Analyzing and interpreting the results; deriving a valuation range

ü  Practical Session: Building a Comparable Company Analysis for a case study company using public data

Module 8: Precedent Transaction Analysis (PTA)

ü  Identifying comparable M&A transactions

ü  Gathering transaction data: deal value, multiples paid (e.g., EV/EBITDA, P/E)

ü  Adjusting for control premiums and synergies

ü  Analyzing and interpreting the results; deriving a valuation range

ü  Practical Session: Building a Precedent Transaction Analysis for a case study company

Module 9: Discounted Cash Flow (DCF) Analysis

ü  Projecting unlevered free cash flows (UFCFs)

ü  Calculating the Weighted Average Cost of Capital (WACC)

ü  Determining the terminal value (Gordon Growth Model and Exit Multiple Method)

ü  Discounting cash flows to arrive at enterprise value and equity value

ü  Practical Session: Building a comprehensive DCF model for a case study company, including sensitivity analysis

Module 10: Introduction to Leveraged Buyout (LBO) Modeling and Presentation of Results

ü  Overview of LBOs and the role of private equity

ü  Key components of an LBO model: sources and uses, debt financing, IRR calculation

ü  Understanding key LBO drivers and returns analysis

ü  Summarizing valuation findings: creating a "football field" chart

ü Practical Session: Building a simplified LBO model and preparing a valuation summary presentation slide

About Our Trainers

Our trainers are former and current investment banking professionals, each with significant hands-on experience in financial modeling, valuation, and deal execution from bulge bracket and boutique investment banks. They bring a wealth of practical knowledge, real-world examples, and an insider's perspective to the training room. Our instructors are passionate about teaching and are dedicated to providing participants with the skills and confidence needed to succeed as analysts.

Quality Statement

Phoenix Training Center is committed to delivering the highest quality training that is directly applicable to the demands of an investment banking analyst role. Our curriculum is continuously updated to reflect current market practices, modeling techniques, and valuation methodologies. We focus on intensive, practical learning to ensure participants develop a deep and actionable understanding of financial modeling and valuation.

Admission Criteria

ü  Participants should be reasonably proficient in English. 

ü  Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free
2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.
3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.
4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.
5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254737296202

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.
2. Invoice: We can send a bill directly to you or your company.
3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.
2. Participants may cancel attendance 14 days or more prior to the training commencement date.
3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor-Made Courses

We understand that every organization has unique training needs. Phoenix Training Center offers tailor-made courses designed to address specific requirements and challenges faced by your team or organization. Whether you need a customized curriculum, a specific duration, or on-site delivery, we can adapt our expertise to provide a training solution that perfectly aligns with your objectives. Contact us to discuss how we can create a bespoke training program for you. For further inquiries, please contact us on Tel: +254720272325 / +254737296202 or Email training@phoenixtrainingcenter.com

Accommodation and Airport Pick-up

For physical training attendees, we can assist with recommendations for accommodation near the training venue. Airport pick-up services can also be arranged upon request to ensure a smooth arrival. Please inform us of your travel details in advance if you require these services. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737296202