Financial modeling
Build models that actually work
Financial modeling is a practical skill. In Finance Quest you write the formulas yourself, and our grader checks not only the numbers but whether your model is live — linked to its assumptions, not typed in.
How we check a model
When you press Check, we rebuild your worksheet on our servers, compare each target cell with the reference model, then shift every assumption and compare again. A cell that matches today but doesn't move with its inputs is flagged as fragile.
- Keep every assumption in one clearly labelled place, and never type a number twice.
- Build calculations from links to assumptions so the model updates when inputs change.
- Use absolute ($B$2) and mixed ($A6, B$5) references so one formula can be copied across a row or table.
- Check your model: totals that reconcile, NPV of zero at the IRR, and sensible terminal-value shares.
Worksheet
Exercise 1
One year of free cash flow
Calculate the tax on EBIT (B9), NOPAT (B10) and unlevered free cash flow (B11) from the inputs above. Link every formula to the inputs. (Revenue is shown for context only.)
0/3 cells entered · Ctrl+. jumps to the next empty cell
| A | B | |
|---|---|---|
| 1 | Inputs | |
| 2 | Revenue (for context) | 500,000.00 |
| 3 | EBIT | 75,000.00 |
| 4 | Tax rate | 20.0% |
| 5 | Depreciation & amortization | 20,000.00 |
| 6 | Capital expenditure | 30,000.00 |
| 7 | Increase in net working capital | 8,000.00 |
| 8 | ||
| 9 | Tax on EBIT | |
| 10 | NOPAT | |
| 11 | Unlevered free cash flow |
InputYou build (dashed while empty)Given, lockedTax on EBIT
Modeling lessons available now
- Forecasting free cash flow — a three-year forecast driven by seven assumptions.
- The DCF: from enterprise value to value per share
- Sensitivity analysis — a two-way table with mixed references.
- Loan amortization schedule
A full three-statement modeling track is on the roadmap.