DCF Valuation Modeling: A Two-Day Masterclass
- Structured financial modelling methods with real-world application
- Step-by-step program with accessible pacing for all experience levels
- Available internationally through Gilmavuret's virtual learning environment
What the course covers
A sequential breakdown of each topic. Read through stages in order or use the expandable sections to review specific areas.
Two-Day Program Outline
Day 1
- Session 1 — Reading a filing: what matters for projection purposes
- Revenue modeling: segment-level vs top-down approaches
- Operating cost structure and margin assumptions
- Session 2 — Working capital cycles and their effect on free cash flow
- Capex modeling: maintenance vs growth split
- Free cash flow reconciliation
Day 2
- Session 3 — Cost of equity: CAPM inputs and beta adjustments
- Debt cost and capital structure assumptions
- Terminal value: Gordon Growth vs exit multiple methods
- Session 4 — Sensitivity and scenario analysis
- Presenting valuation ranges to non-technical audiences
- Live model review and critique
Pre-reading materials
Registered participants receive a 12-page primer on financial statement analysis one week before the event. Reviewing it beforehand keeps day one moving at a productive pace.
DCF models get criticized for being too assumption-sensitive to be useful. That criticism is fair when the model is built carelessly. This masterclass focuses on building one that is not.
Structure of the two days
Day one covers revenue and cost projection methodologies, working capital treatment, and capital expenditure modeling. Participants work from a real anonymized company filing, not a made-up case. Day two moves into WACC calculation, terminal value assumptions, and how to present a range of outcomes rather than a single number.
A note on Excel vs specialized tools
All modeling is done in Excel. Some participants ask about dedicated valuation platforms like FactSet or Capital IQ. Those tools are useful for data retrieval, but understanding the underlying mechanics in Excel is still the cleaner way to learn valuation logic without the platform doing the work for you.
Instructor background
Facilitator Renata Okonkwo spent eight years in equity research before moving to corporate finance advisory. She has valued companies across retail, industrials, and healthcare sectors. Her approach emphasizes understanding what each assumption is actually saying about the business, not just plugging numbers.
Quick facts
- International virtual delivery
- Flexible self-paced schedule
- Practical Excel-based exercises
- Certificate on completion
Financial modelling is a skill built through repetition with real data. The exercises here use publicly available company filings, so every number you work with connects to an actual business decision.
Enrolment
- Price: CAD $890
- Full two-day registration. Day-one only option available at CAD $490.
- Open to all time zones