The Complete Investment Banking Interview Course

Master Excel income and expense analysis with sumifs, precise criteria, and absolute and relative references. Flag budget exceedances in blue and summarize results using iferror and countifs.

Learn to compute market cap and net margins by sector, and identify stocks above 100 billion market cap using vlookup, averageifs, and countifs in Excel for investment banking cases.

Analyze vaccine development stocks in the Excel three exercise by computing returns from 2019 to 2021 using rate and yearfrac. Rank stocks by return and volatility after counting price changes.

Explore how to retrieve stock closing prices by date with vlookup, calculate returns using rate and yearfrac, and rank stocks by volatility and performance.

Learn how to analyze financial statements—income statement, balance sheet, and cash flow—using footnotes, Mdna, and auditor reports to assess performance for investors, creditors, and banks.

Track accounting from journal to ledger to trial balance and three financial statements (income statement, balance sheet, cash flow). Contrast accrual with cash principles, including unearned revenue, accounts receivable.

Create a month-long set of financial statements: income statement, balance sheet, and cash flow. Record capital, investments, depreciation, revenue recognition, and expenses to show accruals across statements.

Explain the indirect cash flow method, starting from net income, adjusting for non-cash items like depreciation and non-operating gains, and linking balance-sheet changes to operating and investing cash flows.

Master ratio analysis as a benchmarking tool using vertical, cross sectional, and trend analyses to assess debt to equity and gross profit margin.

Analyze profitability ratios like gross margin, EBITDA margin, and net margin through vertical and common size analysis, highlighting material consumption as a percentage of sales and economies of scale.

Learn the logic of activity turnover ratios—receivables, inventory, and payables—and convert turnover into days to assess working capital. Compare performance with peers to gain context.

Learn how to compute return on assets and operating ROA using net income and EBIT over total assets, and preview interpreting these ratios with real company comparisons.

Analyze solvency ratios for long-term obligations, including debt-to-equity and debt-to-capital. Assess debt-to-assets and the interest coverage ratio with industry context.

Explore solvency and return ratios, including the financial leverage ratio and fixed charge coverage ratio, then master ROE, ROCE, ROA, and operating ROA with asset, equity, debt, and lease considerations.

Examine liquidity ratios—current ratio, quick ratio, and cash ratio—to assess short-term obligations using current assets, liabilities, inventory, and liquid investments, and evaluate valuation ratios like price-earnings and price-to-book.

Compare Birger and Asian paints through valuation and liquidity ratios, including price-to-earnings, price-to-book, price-to-sales, and current, quick, and cash ratios, plus notes on receivable and payable days.

Apply DuPont analysis to decompose return on equity into five factors: tax burden, interest burden, operating margin, asset turnover, and leverage, connecting net income, revenue, assets, and equity.

Practice financial statement analysis by identifying and fixing balance sheet and cash flow errors, including checksum issues, working capital changes, retained earnings, and missing entries.

Forecasts financial statements from limited data using average selling price, 5% volume growth, common size analysis, depreciation unchanged, and a 30% tax rate to project revenue, costs, and net income.

Learn to forecast financial statements from limited data by setting stable assumptions for average selling price (ASP), headcount, costs, and growth, then build and validate a multi-year model in Excel.

Explore valuation basics: intrinsic value versus market price and how assumptions drive overvalued, undervalued, or fair value. Learn cash flow valuation, present value, terminal value, and multiplier methods.

Explore valuation variants from present-value models (dividends, free cash flow to equity and firm) to multipliers (p/e, p/b, p/s, p/cf, ev/ebitda), including dividends, share repurchases, and Gordon growth terminal value.

Explore Gordon growth and dividend models, learn present-value valuation, terminal value, and how free cash flow to equity and free cash flow to firm inform enterprise and equity value.

Learn how to calculate the cost of capital and apply the weighted average cost of capital (WACC) to capital structure decisions, including debt versus equity and the tax shield.

Learn to practically calculate a stock's beta and the cost of equity using CAPM, including market risk premium, data gathering, and covariance-based beta estimation.

Compute levered and unlevered beta by stripping leverage from a public beta using debt-to-equity and the tax rate, then re-leverage for a private company using the pure play method.

Engage in a DCF case study that trains you to fix balance sheet errors, compute EPS CAGR, and perform a full valuation using FCFF, FCFE, and EV by EBITDA.

Craft a concise, recruiter-friendly resume using a simple format and resume builders, prioritizing reverse chronology, header hygiene, LinkedIn, and quantifiable achievements aligned with equity research.

Assess offer letters for illegal clauses such as non-compete; understand probation, notice, and buyout terms; and prepare an exit checklist covering assets, form 16, and experience letters.

Explore the it sector overview, tracing outsourcing to India, global delivery centers, and the current mix of it services, bpm, products, and hardware with revenue and workforce stats.

Explore persistent systems and its IT services to the BFSI sector, using quarterly reports and financial statements to build revenue drivers and forecast a three-year outlook.

Leverage quarterly income statement, balance sheet, and cash flow data and the fact sheet to forecast revenue by drivers, segments, and top clients.

Learn to forecast revenue drivers using geography segmentation and product classifications, linking historical revenue by North America, Europe, India, and rest of the world.

Analyze revenue driver segment forecasting using industry mix across bfsi, healthcare, and tech, with trend and geography analysis, highlighted by hiring as the primary growth driver and conservative projections.

Explore revenue drivers by analyzing billing methods, separating services and IP led revenue, and computing billable person months, utilization, and hourly billing rates for GDC and India.

Compute the led billing rate and services revenue from usd data, convert to inr, and derive monthly and per-hour rates while analyzing ip-led capacity and growth assumptions.

Forecast revenue by modeling cost drivers and three assumptions: exchange rates, billing-rate growth, and ip-led growth. Project billable professionals and utilization to derive three-year revenue and ebitda margins.

Develop an asset schedule linking revenue to asset purchases and forecasting balance sheet items—property, plant and equipment, other intangible assets, and investments—and apply depreciation as a percentage of fixed assets.

Link and finalise the balance sheet and cash flow with the income statement, applying depreciation and taxes, and adjust receivables, payables, and dividends to complete the three statements for valuation.

learn to build a DCF valuation for equities, set perpetual growth and WACC, forecast free cash flow to equity, compute terminal value, and derive intrinsic value and investment recommendations.

Apply relative valuation by comparing a company to peers using EV/Revenue and price-to-earnings, examine trailing 12 months revenue and EPS, and assess whether market valuations are justified.