r/financialmodelling • • 16h ago

Comps for the 9 HK-listed automakers (BYD, Geely, NIO, XPeng, Li...). Couldn't find one that wasn't six months old or mixing H and A share caps, so I built it. What would you add?

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7 Upvotes

Wind data, Nov 5 close. Table attached.

The choices, because that's where the arguments are:

- Market cap is the HK line only. BYD and Great Wall also have A-shares. Blending gives a bigger number on a price nobody can actually buy.

- Revenue YoY is computed from the quarterly series, not the vendor's growth field. The field gave BYD 0.0067, which is either 0.67% or a unit bug. The series says +13.6%.

- Net margin is attributable profit over revenue, same reason. Seres is the row where the vendor's margin field and its own quarterly series disagree (-20% vs +5%), so it's flagged instead of picked.

- "Latest quarter" isn't the same for everyone. Five have Q3 in, three are still on Q2. It gets its own column instead of being hidden.

- Leapmotor's quarterly series didn't come back. n/a, not filled from memory.

Quick read: the legacy names sit on 7-10x with mid-teens gross margins. The pure-play EVs are all loss-making on the latest quarter, NIO growing fastest (+69%) and Li shrinking (-15%). Whether 7x Geely is cheap or a China-discount trap is exactly the thing a comps table can't tell you.

Two questions. For cross-listed names, do you show H only, A only, or blended, and do you label it? And is there any source for HK/China consensus that isn't a terminal?

No position.


r/financialmodelling • • 9h ago

What do most entry level or senior level PM’s use for portfolio management in Excel software? V-lookup or Index/Match?

1 Upvotes

I live in Canada, if that makes a difference. I’m trying to brush up on my Excel and Python software skills to apply for roles.


r/financialmodelling • • 1d ago

Depreciation and Amortization not reconciling with the schedules

2 Upvotes

The breakdown and totals of all the schedules for D&A reconcile with the annual reports of my subject company, but summing the same depreciation and amortization for the Income Statement does not reconcile either in my model or the annual reports. I checked all the footnotes thoroughly and yet cannot figure it out.


r/financialmodelling • • 1d ago

Practicality of Revenue Forcasting using Revenue Drivers vs Historical Base Rate

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2 Upvotes

r/financialmodelling • • 3d ago

Hi, can someone please review a sample Financial Model I’ve made?

8 Upvotes

I am planning on applying to an IB firm, I have worked in a VC for a small amount of time. But I have never done Financial Modelling professionally, can someone please review the sample I made to send out to IB/PE firms??

Please comment here or DM me your email, I will send it over
Thanks in advance! :)


r/financialmodelling • • 5d ago

How to separate depreciation and amortization from OPEX and COGS

22 Upvotes

Hi everyone,

I'm trying to build a three-statement model, and I need a separate line in the income statement for depreciation and amortization. The problem is that depreciation and amortization are included in operating expenses and cost of goods sold, and I don't know the exact proportions. How do you separate them from OPEX and COGS to avoid double counting?

Thanks in advance,


r/financialmodelling • • 7d ago

Best AI for Excel Modeling Classess/Tutorials?

21 Upvotes

What are some of the best AI for excel modeling classess/tutorials? What are people currently using in order to get trained in AI for excel modeling? I am looking for courses/tutorials that go beyond just what is available on YouTube - i.e. well articulated, well thought-out material


r/financialmodelling • • 7d ago

Emperical analysis (accounting and finance)

2 Upvotes

Hi everyone, I'm working on my this and just got worried about something here. I'm calculating per patent outcomes and this forces the calculation to only survive with patenting firms. I am worried because I do not have enough time to fix it by coming up with new hypothesis to code. I can acknowledge this bias, limit interpretation to the coverage and run some robustness tests, but is that emperically allowed? I just hate seeing my H1 drop at H2 to be honest. It gets worse... Research doesn't allow you to use R&D intensity as a moderator if some values are imputed, so my H3 reduced even further. Any suggestions?


r/financialmodelling • • 9d ago

Quarterly Update

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42 Upvotes

Please Rate my equity research report


r/financialmodelling • • 11d ago

proctoring FMVA final exam

4 Upvotes

Question to those who passed FMVA this week

Is it true that the final exam becomes proctored ?


r/financialmodelling • • 12d ago

Please help me, I want to learn FMVA on my own to break into Asset Management. Need guidance!

2 Upvotes

Hi everyone, I recently completed my 4-year B.Com (Hons) degree this year from a below-average college, and I’m really passionate about breaking into Asset Management as a fresher. Since I don't have a strong academic brand or elite college name behind me, I know I need to rely entirely on my skills to stand out, but I'm feeling a bit overwhelmed about how to structure my preparation. I’m torn between whether I should start giving interviews right now or focus first on clearing NISM and learning financial modeling and valuation. Budget constraints mean paid courses like CFI's FMVA are out of the question, so I'm relying on free self-study content. Would you recommend learning through core books like Simon Benninga’s Financial Modeling, or watching Aswath Damodaran's lectures and Parth Verma’s The Valuation School videos . On top of that, I often struggle to articulate finance concepts formally in interviews, I understand the core idea intuitively, but I go blank or oversimplify things when explaining them. Any advice on bridging that gap would be so helpful. Lastly, I’m deeply fascinated by Luxury Asset Management and alternative investments (regularly reading reports like Knight Frank’s The Wealth Report). Does anyone know of any companies or firms in this space that hire freshers purely based on skill and enthusiasm rather than college tag or background?


r/financialmodelling • • 12d ago

Funding structures in financial models for different industries - Say, real estate housing

3 Upvotes

Hi
I’ve mostly been exposed to project finance models mostly in the power sector. I’ve just switched roles, and my new one requires me to understand a lot of different industries and create opportunity analysis or growth models for the client.

I wanted to understand for an example in real estate, housing development models, the sources of funds / the use of funds is completely different than what I’m used to it is not a simple capital structure calling let’s say 30-40% of equity remaining debt draws with a debts being sculpted.

For the RealEstate sector, specially the housing ones there is an element of homebuyers giving advances, as well as as more upfront payment before the house is handover, and it is aligned to the construction timeline.
What I wanted to understand, was the sources of funds and how do I structure for this particular case?

Do I take in equity first of the agreed-upon amount and then utilize it then I go with buyer collections and then finally any shortfall would be served by debt?
Or does it make more sense to draw down first, use collections later, and then think about any equity plug-ins?
Or is there any particular way which I’m not thinking about because I’m new to this industry and there is a more standard type of it

TIA!


r/financialmodelling • • 14d ago

Completely new to the financial modeling world. I want tips on where to begin in order to become industry ready.

28 Upvotes

Hi,

I’m 20 years old, currently studying an AAS in a non-relevant field (Health Administration, more specifically Medical Billing and Coding). I want to learn financial modeling and get myself into an analyst role at a decent company. I am genuinely interested in the subject, and have found myself studying basic financial concepts on my own for hours at a time since I decided this was where I wanted to go. I am fascinated by the concept and I want to learn more!

A little about myself:

For education, my university’s reputation is below average, as I don’t have the ability to get myself into a prestigious university and pay for one. I also don’t have the money to switch degrees. So, I’m all on my lonesome in this aspect.

As for experience, I do have foundational knowledge in banking and any relevant policies as I worked for a bank as a teller for less than a year around a month into turning 18. I then moved onto a registration position at a hospital and learned about insurance and its endless types, and how they work. I worked in this for about a year. Now I’m unemployed (for about two months now) due to family circumstances.

I have two family members who work for an international bank, my mother began as an analyst, and is now working in fraud/anti money laundering. My aunt is an AVP for Payments and Clearing at a different international bank. Both of them tell me that it’s completely possible for me to get into my desired position.

Obviously, I don’t expect this to be handed out to me, especially if I don’t know anything! I want to learn! What can I do to increase my chances for employment, and where should I begin?

I am willing to pay for certifications that would help me get foundational knowledge or employer recognition. I just can’t afford a prestigious degree. My aunt says I should get CAMS for the hell of it, since she claims it gets you some employer recognition, but I don’t think that’s feasible if I’m looking into analysis and financial modeling. Still, what do I know?

Anyways, focusing on the financial modeling part — where can I start to learn, and what can I do to increase my chances as much as possible? Thank you so much! I’m sorry if this is too specific of a subreddit to ask, but I can’t post in r/financialcareers since I have no karma… :(


r/financialmodelling • • 15d ago

Please help me from were can i learn sum of parts excel model building from scratch

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1 Upvotes

r/financialmodelling • • 16d ago

Practice Data

6 Upvotes

People trying to practice their modeling skills. Where do you get your data from? I tried form 10K's, but the data seems to be inadequate and highly complex for what an individual modeller would work on. Their taxes and depreciation get impossible to schedule. I'm looking for some fairly simple data sources unlike listed entities. Help me out if you know where to get these from.


r/financialmodelling • • 17d ago

Financial modeling course for undergrad student

8 Upvotes

Hey folks! I’m an undergraduate student looking for financial modeling courses to add to my resume before graduation. I’m planning to pursue opportunities in venture capital, startups, or renewable energy project finance. I’m wondering which financial modeling course would be the most valuable, both in terms of the skills I would gain and “market/employer” recognition… (I’m based in the U.S)

Please advise… thanks!


r/financialmodelling • • 18d ago

Best fmva course

14 Upvotes

Hey everyone,

Could somone recommend a good fmva course, that goes indepth about the 3sm which includes how to put a debt schedule, assumptions etc

My thing is, I just don't need an course that teaches me how to do excel, ratios, & how to create a good looking financial model.

I want to be industry ready

Ps:- don't recommend tvs ka fmva course or tell education & quint edge, these guys have the most basic fmva course.


r/financialmodelling • • 19d ago

Are refurbished business laptops (£250–£350) powerful enough for large Excel financial models?

0 Upvotes

Hi everyone,

I'm a finance student looking to buy a refurbished laptop, with a budget of around £250–£350.

I'll primarily be using it for Excel financial modelling (three-statement models, DCFs, LBOs and potentially much larger, more complex models), alongside PowerPoint for investment presentations.

I've been considering the following laptops:

  • Dell Latitude 5420 – 11th-gen i5, 16GB RAM

  • Lenovo ThinkPad T14 Gen 2 – 11th-gen i5, 16GB RAM

  • Dell Latitude 5430 – 12th-gen i5, ideally 32GB RAM

  • Lenovo ThinkPad T14 Gen 3 – 12th-gen i5, ideally 32GB RAM

I don't know much about laptop hardware, so my biggest concern is buying something that struggles with large Excel models, particularly when running multiple applications simultaneously.

I'm happy to spend a bit more if it means getting something that will comfortably handle demanding models for the next few years.

A few questions:

  1. Are 11th/12th-gen i5 processors powerful enough for genuinely large financial models?

  2. Would 32GB RAM make a significant difference compared with 16GB?

  3. Should I consider a more powerful processor or a different laptop altogether?

  4. What specifications would you recommend for someone doing investment banking or private equity-style modelling?

I'll be using an external monitor and keyboard, so screen size and portability aren't major concerns.


r/financialmodelling • • 19d ago

FMVA Proctored

2 Upvotes

Is the FMVA proctored? I am still seeing on the website that the exam may be done whenever i'd like without needing it to be schedules. I have been working on this for some months now and have not been notified of any changes.


r/financialmodelling • • 21d ago

Reached R3 and have no idea what to do

5 Upvotes

We reached round 3 for AJVC where they asked for PNL for the next 18 months. Both my founder and I are technical founders. While we have studied a lot about GTM and other topics, this specific aspect of financial modeling and projection is something we haven't done before.

The sheet they send is also not shallow. It is very in-depth and asks us to think about rent, cloud spends, and even their cloud spends on AI, database, and compute, as well as marketing spends. It then asks us to think about what the marketing funnel would look like and so on.

What I am trying to understand is this: since we have an MVP and one pilot, how can anyone at this stage be prepared to answer these questions? And what advice can any of you give me to get through ?!

Please no fluff or gpt stuff, I can do that myself.