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Build Financial Models From 3-Statement to LBO in Five Days Using Real Company Data
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Build the Full Deal Toolkit: Modeling, Valuation, M&A and LBO
Over five days you'll build a three-statement model, value the company with trading comps, WACC and DCF, analyze an acquisition, then structure and model an LBO.
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Work With Real Company and Market Data
Every case runs on real filings and market data through Felix, so the work in class mirrors the work on the desk.
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Used by Top Financial Institutions
This is an intensive version of the training delivered to new hires at the world's top firms, taught face-to-face by former industry professionals from Barclays, HSBC, KPMG, EY and more.
Earn the Desk-Ready Certificate
Complete the program to earn a desk-ready certificate recognized on Wall Street. It is designed to show employers you have the skills to succeed.
Agenda
Day 1
Day 1
Financial Modeling
You'll build a three-statement model with an iterative circular reference, add a cash sweep, then audit it with a structured error-checking toolkit. Shortcuts and formatting standards run throughout so the output is pitch-book ready.
Day 2
Day 2
Valuation
You'll bridge equity value to enterprise value, build trading comparables from source documents, estimate WACC across the peer group and complete a DCF that converts enterprise value into an implied share price.
Day 3
Day 3
M&A
You'll update transaction comparables and premiums paid with recent deal data, then build a deal analysis model to test the impact of an acquisition on EPS and credit rating at different prices.
Day 4
Day 4
LBO Analysis
You'll size debt capacity, structure an acquisition across debt tranches and build an LBO model with a full debt schedule and equity returns (IRR and money multiple). The day closes with a valuation football field you'll defend.
Day 4
Day 4
Advanced LBO Modeling & Analysis
You'll work through the financing instruments used in private equity, from senior and subordinated debt to preferred equity and management ratchets, then build a complex LBO model and error-check it with sensitivity tables.
Online
Online
Pre-Seminar Excel TrainingThis boot camp assumes proficiency in Excel. Enrollment includes access to our popular Excel Crash Course for those who need an Excel refresher.
Online
Online
Post-Seminar Online Access-
Enrollment includes access to the following online course(s):
- 3 Months Felix Pro Access
Full Syllabus
Day 1 – London: Financial Modeling
Three statement model with iterations
- Income statement construction and highlighting key numbers
- Calculation schedules: PP&E, retained earnings, operating working capital and debt
- Balancing the balance sheet with a cash sweep
- Calculating interest using average balances
- Circular references and iterations
- Working with a circular reference switch
- Preparing the model for handover
- Key formatting and putting the output into a pitch book
Building a model with a cash sweep
- Why banks want to be repaid early
- Cash sweep mechanisms
- How to model cash sweeps
- Building a three-statement model with a cash sweep
Checking a model for integrity and errors
- The top ten modeling errors
- Auditing and error-checking toolkit
- Checking your own model
- Checking someone else’s model
Day 2 – London: Valuation
Equity value to enterprise value bridge
- Calculating equity value
- Calculating enterprise value
- Non-core items, debt equivalents and non-controlling interests
- Calculating simple multiples
- Illustrating the impact of leverage
- How growth rates, returns and multiples interrelate
Trading comparable valuation
- Choosing a comparable set of companies
- Calculating enterprise value
- Calculating LTM EBITDA and EBIT
- Forward multiples and issues with consensus data
- Which operational ratios matter for the analysis
WACC analysis: practical application
- Capital Asset Pricing Model (CAPM)
- Calculating WACC from the peer group
- Interpreting the results
- Establishing a reasonable cost of capital for the target
Discounted cash flow valuation
- Calculating free cash flows
- How operational ratios should develop over the forecast period
- Calculating the steady state and adjusting steady-state cash flows
- Setting reasonable long-term growth rates
- Discounting to a deal date
- Converting enterprise value to an implied share price, adjusting for share options and RSUs
Day 3 – London: M&A
Transaction comparables and premium paid analysis
- Reviewing data sources
- Understanding different deal contexts
- Calculating enterprise value and LTM EBITDA
- Calculating premiums paid based on offer prices
- Calculating synergies as a % of target sales
M&A deal analysis
- Estimating an acquisition price range from the valuation analysis
- Impact on the EPS forecast
- Impact on credit rating
Day 4 – London: LBO Analysis
Acquisition financing and debt capacity analysis
- Cash flow-based debt capacity analysis
- Multiple-based debt capacity analysis
- Structuring a transaction
- Structuring a transaction with different debt tranches
LBO modeling and deal analysis
- Revolving credit facility
- Term loans
- Cash sweep and covenant mechanisms
- Bullet and high-yield loans
- Credit ratios
- Returns to equity holders: IRR and money multiple
Valuation football field summary
- Deciding valuation ranges
- Calculating implied share price ranges
- Preparing the football field chart
- Relevant annotations
Day 5 – London: Advanced LBO Modeling & Analysis
Debt products in PE: financing instruments
- Types of debt: senior (revolving credit facility, Term Loans A-C) and subordinated (2nd lien term loan, high-yield bond, mezzanine)
- Preferred stock and equity injection
- Management ratchet
- Debt providers: banks, insurance companies, CLOs, hedge funds, pension funds
- Covenants
- Collateral: 1st vs. 2nd lien, all-asset vs. bifurcated
- Financing fees: upfront, commitment, interest rate, PIK, OID
- Key terms: interest (PIK, OID), typical tenor (1, 5 or 7 years), repayment (bullet vs. amortization)
Complex LBO modeling
- Felix LBO challenge
LBO error checking
- Using sensitivity tables to find errors in LBO models
- Mathematical errors
- Errors in building data tables
- Hardcodes in formulas
- Incorrectly linked cells
- Incorrectly locked cells
3 Months Felix Pro Access
Felix is our industry-leading online learning platform. It delivers everything finance professionals and teams need to learn, practice and analyze. Build skills with instructor-led training, then apply them to real company filings, data and models.
Felix at a glance
- 4,700+ searchable training videos and expert interviews
- 560+ playlists, with quizzes and Excel tryouts on more than half
- 12 role-based pathways
- 50+ certified courses
- 160+ live webinars every year
- Filings and company data for 7,000 global companies
- 30,000+ analysts using Felix
- Expert answers within 48 hours
- Felix mobile app for learning and company data on iOS and Android
Learn at your own pace
Find the answer fast
Search by method, concept or question and get a short, instructor-led how-to video. No more digging through outdated or inaccurate answers online.
Follow a path built for your role
Each pathway runs from fundamentals to advanced content, whether you are heading into investment banking, equity research, sales and trading, private equity or credit analysis.
Prove it has stuck
Quizzes and Excel tryouts sit alongside the videos so you test yourself as you go. Earn certificates, from skills certificates to micro-degrees, with lifetime access to each course.
Learn live, ask anyone
Join Friday webinars with live Q&A, run at times that suit every time zone and saved to watch later. Between sessions, put technical questions to instructors who have worked at J.P. Morgan, Goldman Sachs, Barclays and more.
Practice on the real thing
See where every number comes from
Click any metric in a company’s equity to enterprise value bridge to jump to the exact line in the filing. You learn where to find the data, not just what it is.
Keep an audit trail
Annotate filings, rename and share them with colleagues, and review everything in one dashboard. Copy a number and its source link into Excel with CTRL + V.
Benchmark against the market
Download regional and industry data, refreshed monthly, covering multiples, cost of capital, growth, profitability, returns and capital structure.
Start from a working model
Open sector models for banking, insurance, oil and gas, pharma, REITs and telecoms, or transaction models for LBOs, mergers, IPOs and divestitures. Supporting playlists show how each one works, which helps new hires get up to speed in a specific industry group.
Wall Street Prep training is used at ...
Who is this Boot Camp For?
- Individuals or small groups seeking the fastest path to break into finance
- Experienced professionals looking to reinforce past learning or plug skill gaps
- New, lateral or off-cycle hires who need to rapidly upskill and get desk-ready
Boot Camp Details
Overview
This is an intensive five-day classroom program designed to get you desk-ready. It is a condensed version of the training delivered to new hires at top financial firms, built on real company case studies. You’ll leave able to build error-free models, value companies with multiples and DCF, analyze M&A deals and their financing, and model an LBO.
Delivered by Financial Edge
This boot camp is delivered by Financial Edge, a London-based finance training firm and part of the Wall Street Prep group since 2025. Financial Edge runs instructor-led new-hire training for leading investment banks, private equity firms and asset managers, supported by its Felix online learning platform.
Felix Platform Access
Felix puts real company and market data in the classroom from Day 1. After the course, role-aligned pathways let you go deeper in investment banking, private equity, credit and more.
What’s Included?
Five days of live, in-person instruction in London, 3 months of Felix access, and a desk-ready certificate.
Prerequisites
Bring a laptop, preferably Windows-based with Excel, so you can build alongside the instructor.
Seminar Location
Trainee Reviews
"The course includes really good information that will be valuable going forward. It was very good, the same level or above compared to other courses taken."
— Daniel P.
"The course is very useful and fun. It is a great way to learn how to model and to be able to understand by asking questions. Loved it!"
— Alice S.
"The instructors were everything you could ask for – extremely knowledgeable, responsive, helpful, and did a great job of breaking down difficult concepts. They were also highly knowledgeable and always there to help. This course was far more effective, relevant, and in-depth than others I have taken."
— Andrew A.
"It’s really good to have someone who has so many years of actual practical experience to go over the materials and share real life insights as to why we do these instead of just going through the content or the ‘how’."
— Livia L.
"Solid overview of most important concepts and practices."
— Maksim S.
"The course material is very applicable for equity research, particularly the non-gaap financials and all of the excel shortcuts and tips that were taught. I’m taking away a lot of useful excel functions and shortcuts that I’ll be using everyday now."
— Greg P
Why Attend a Boot Camp?
Comprehensive Training
Our live courses pulls no punches. Each boot camp is the same intensive training used to prepare incoming analysts at top financial institutions.
Learn by Doing
Attendees "learn by doing" by working through practical exercises and building financial models from scratch using real case studies.
Networking Opportunity
Boot camps provide an opportunity to network with MBAs and professionals from industries including investment banking, corp dev and FP&A.
Experienced Instructors
Our instructor-practitioners are experienced bankers who give real-world context by connecting training to their own experience on the desk.
Excel Mastery
Our training reinforces speed, efficiency and consistency in Excel that investment banking analysts are expected to have on Day 1.
Continuing Ed & Webinars
Enrollment to most boot camps includes access to our continuing education online training platform and webinar series.
Further Reading
Cancellation & Transfer Policy
Participants who are unable to attend their scheduled boot camp may request to transfer their registration to a future Wall Street Prep Public Boot Camp. Requests must be submitted at least 1 week prior to the original seminar start date. The following conditions apply:
- Only one transfer is permitted per registration.
- The transfer must be used within one year of the original seminar date.
- Transfers are final and non-refundable.
- If the new boot camp has a higher registration fee, the participant will be responsible for paying the difference. No refunds or credits will be issued for transfers to a lower-priced boot camp.
- Participants who cancel within 1 week of the seminar start date, or who do not attend without prior notice, are not eligible for a transfer or credit.
Wall Street Prep reserves the right to cancel a seminar due to low enrollment or unforeseen circumstances. If Wall Street Prep cancels a seminar, participants may choose either a full refund or a transfer to a future boot camp.
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.
