Advanced LBO Modeling
The Only Course You Need to Master Advanced LBO Modeling for Success in PE Interviews and on the Desk.
Welcome to the Course!
Legal Disclaimer
Video Navigation Keyboard Shortcuts
Intro
Public vs Private Deal
Asset vs Stock Structure
Carve-Out Basics
EBITDA Deep Dive
How to Interpret Valuation Multiples
LTM vs NTM Multiples
Intro to Target Cap Structure
Excel Exercise: LBO Model Setup
Excel Exercise: Rollover Debt + Equity
Day 1 Cash
Excel Exercise: Cash on BS
LBO Deal Fees
OID Made Easy
Excel Exercise: Core Fees
Debt Breakage Costs Made Easy
Excel Exercise: Debt Prepayment
Intro
LBO Debt Deep Dive
Data + Trends: LBO Debt
Excel Exercise: Debt + Fin Cases
Debt Rollover
Intro
Sponsor Equity Calculations
Excel Exercise: Rollover Equity Pt 2
Minimum Equity Calculations
Excel Exercise: Minimum Equity
Intro
Seller/Vendor Notes
Earnout Mechanics
Excel Exercise: Seller Financing
Intro
The Four LBO Scenarios
S&U Presentation Framework
Excel Exercise: S&U Presentation
Excel Exercise: S&U Demo
Excel Exercise: BS + CFS FAQs
Pro Forma BS Fundamentals
Excel Exercise: Basic PF Balance Sheet
Deferred Taxes + NOLs
Intro to PPA
PPA: Stock vs Asset Deal Impacts
Excel Exercise: Advanced PF Balance Sheet
PPA Wrap-Up
Excel Exercise: Income Statement FAQs
Revenue Projections
Excel Exercise: PV + TAM Builds
Cost Projection Mechanics
Excel Exercise: Advanced Cost Builds
P&L Overrides
Excel Exercise: P&L Overrides
Carve-Out Costs
Excel Exercise: Carve-Out Costs
Intro
Excel Exercise: Debt Table FAQs
ECF Sweeps
Excel Exercise: ECF Sweeps
Modeling Future M&A
Excel Exercise: M&A Waterfall Build
Dividend Recap Triggers
Excel Exercise: Dividend Recap
Data + Trends: Roll-Ups + Recaps
Exit Multiple Assumptions
Modeling an IPO Exit
IPO Fees + Timeline
Equity Waterfall Mechanics
Excel Exercise: 5 yr to 7 Yr Model
Excel Exercise: Carry Adj Returns
Excel Exercise: LTM vs NTM
Excel Exercise: IPO Exit
Equity Waterfall Mechanics + MIP
Excel Exercise: Option MIP + Equity Waterfall
Excel Exercise: Profit Interest MIP
What's a 'Good' Return in PE?
Investing Mechanics Returns Framework
Return Attribution
Self Referencing IFs (StickyIFs)
Excel Exercise: Return Attribution
Visual Model Checks
Excel Exercise: Visual Model Checks
Operating Cases
Excel Exercise: Operating Cases
Sensitivity Analysis
Excel Exercise: Sensitivity Analysis
Summary Page
Excel Exercise: Summary Page
Print Formatting
Excel Exercise: Print Formatting
AVP + ATP Analysis
Excel Exercise: Basic ATP
Cash Tax - Setup
Cash Tax - NOLs
Cash Tax - NDI
Cash Tax - Depreciation
3 Types of Models
Excel Big Model -> Regular Model
Excel: Regular Model -> Mini Model
Excel Exercise: Quarterly Build
Final Framework + Wrap-Up
Structured, end-to-end framework that equips you to confidently approach any LBO model, regardless of complexity.
Disjointed explanations force you to piece together concepts on your own, leaving you struggling to understand how the components fit into a cohesive LBO model.
Proprietary framework to help you navigate Sources & Uses regardless of deal structure—whether public or private, with rollovers, earnouts, or other nuances.
Other programs skim over Sources & Uses, offering generic examples that don’t prepare you for real-world complexity.
Structured, end-to-end framework that equips you to confidently approach any LBO model, regardless of complexity.
Disjointed explanations force you to piece together concepts on your own, leaving you struggling to understand how the components fit into a cohesive LBO model.
Proprietary framework to help you navigate Sources & Uses regardless of deal structure—whether public or private, with rollovers, earnouts, or other nuances.
Other programs skim over Sources & Uses, offering generic examples that don’t prepare you for real-world complexity.
Covers advanced topics like equity waterfalls, management incentive plans (MIPs), and return attribution (IRR/MOIC bridges) to ensure you can tackle even the most challenging exercises.
Competitors often skip or gloss over intricate topics, leaving gaps in your understanding of essential concepts.
Yes, we highly recommend completing the LBO Modeling course first. It lays the foundation for this advanced course, ensuring you’re fully equipped to tackle more complex scenarios in this course.
Definitely! This course is designed to prepare you for virtually every scenario imaginable, ensuring you’re ready to confidently handle even the toughest PE Associate interview questions.