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excel-dcf-modeler

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Excel DCF Modeler

Excel DCF Modeler

Overview

概述

Creates professional DCF valuation models following investment banking standards with WACC calculations and sensitivity analysis.
可按照投资银行标准创建专业的DCF估值模型，包含WACC计算和敏感性分析。

Prerequisites

前提条件

  • Excel or compatible spreadsheet software
  • Historical financial data for target company
  • Industry comparables for WACC estimation
  • Excel或兼容的电子表格软件
  • 目标公司的历史财务数据
  • 用于估算WACC的行业可比数据

Instructions

操作步骤

  1. Create assumptions sheet with revenue growth, margins, WACC, and terminal growth rate
  2. Build free cash flow projections (5-year forecast)
  3. Calculate terminal value using Gordon Growth Model
  4. Discount cash flows and terminal value to present value
  5. Sum to get enterprise value, subtract net debt for equity value
  6. Add sensitivity tables for key assumptions
  1. 创建假设表格，包含收入增长率、利润率、WACC和终值增长率
  2. 构建自由现金流预测（5年期预测）
  3. 使用戈登增长模型计算终值
  4. 将现金流和终值折现至现值
  5. 求和得到企业价值，减去净债务得到股权价值
  6. 为关键假设添加敏感性分析表格

Output

输出结果

  • Complete 4-sheet DCF model with assumptions, projections, valuation, and sensitivity
  • Enterprise value and equity value per share
  • Sensitivity analysis on WACC and terminal growth rate
  • 包含假设、预测、估值和敏感性分析的完整4表DCF模型
  • 企业价值和每股股权价值
  • 针对WACC和终值增长率的敏感性分析

Error Handling

错误处理

ErrorCauseSolution
#DIV/0! in terminal valueWACC equals terminal growthTerminal growth must be less than WACC
Negative FCFHigh CapEx or WC needsReview assumptions, may need different model
Unrealistic EVExtreme growth assumptionsBenchmark against industry comparables
错误原因解决方案
终值计算出现#DIV/0!错误WACC等于终值增长率终值增长率必须低于WACC
自由现金流为负资本支出或营运资金需求过高重新审核假设，可能需要更换模型
企业价值不切实际增长假设过于极端与行业可比数据进行对标

Examples

示例

Example: Value a SaaS Company Request: "Create a DCF model for a $50M ARR SaaS company growing 30%" Result: 4-sheet model with 5-year projections, 12% WACC, 3% terminal growth, sensitivity tables
Example: M&A Valuation Request: "DCF analysis for acquisition target" Result: Model with synergy adjustments, scenario analysis, and per-share valuation
示例：为SaaS公司估值 请求：“为一家ARR达5000万美元、增长率30%的SaaS公司创建DCF模型” 结果：包含5年期预测、12% WACC、3%终值增长率及敏感性分析表格的4表模型
示例：并购估值 请求：“对收购目标进行DCF分析” 结果：包含协同效应调整、情景分析及每股估值的模型

Resources

参考资源