
What is this model used for?
This template values a manufacturing business that is already running. You start from what the company has actually done, not from a blank forecast: five years of income statements and balance sheets go in, and the model turns them into a defensible valuation.
Use it to price a company you want to buy or sell, to support a fairness check or a shareholder negotiation, to take a new production line to the board or the bank, or to work out what return a buyer earns at a given entry price and exit year. The sample company is in USD and every figure can be replaced with your own.
What is included?
One Excel workbook with 19 linked tabs:
- Cover, Instructions, and an Input Checklist that shows OK or CHECK for each input group
- Dashboard with eight headline KPIs, entry and exit summary, and hurdle checks (PASS or BELOW)
- Charts tab with six charts linked to the model
- Company Inputs: scenario, acquisition and exit, expansion, debt, tax, WACC, peers, and forecast drivers by year
- Historical Inputs: five years of income statements and balance sheets, with a balance check
- Timeline, Operations, Capex, Working Capital, Financing, and Tax & Equity schedules
- Expansion: stand-alone cash flows and returns of the new capacity
- Financials: income statement, normalized EBITDA, cash flow, balance sheet, and net debt
- Historical Analysis, Valuation, Sensitivity, and Checks
Main features
- One timeline of 5 actual years and 10 forecast years, so history and forecast sit side by side on every schedule
- Normalization: one-off costs and gains are removed from EBITDA and from the forecast cost base
- Historical analysis: growth, margins, working capital days, ROCE, and leverage, with 5-year averages to test your forecast against
- Forecast drivers by year: utilization, price growth, raw material and other cost inflation, salary growth, and capex
- Brownfield expansion with its own capex, ramp-up, loan, and stand-alone IRR and NPV
- DCF on free cash flow to the firm, with a choice of Gordon growth or exit multiple for the terminal value
- Comparable companies on EV / EBITDA and EV / Revenue, a football field, and a weighted equity value and value per share
- Equity bridge with net debt, debt-like items such as end-of-service provisions, and a discount for lack of marketability
- Acquisition returns: entry price, transaction costs, exit year, and IRR on three bases (FCFF, FCFE, and dividends received)
- Existing debt, expansion loan, minimum cash, working capital facility, dividend lock-up, and DSCR
- Base, Downside, and Upside scenarios switched from one cell, plus live sensitivity grids with no data tables
- Corporate tax with loss carry-forward, or Zakat for Saudi Arabia and the GCC
- Integrity checks that must read ALL OK before you rely on any number
How to work with the template
- Save a copy under the company name and open the Instructions tab. It starts with a colour guide and a map of how the tabs connect.
- Enter five years of accounts on Historical Inputs and confirm the balance check shows zero in every year.
- Set the forecast drivers on Company Inputs, using the 5-year averages on Historical Analysis as your guide. There are 17 numbered steps, all in yellow cells.
- Confirm the Checks tab reads ALL OK, then read the Dashboard and Valuation tabs and test the result on the Sensitivity tab.
A first full run takes two to three hours with the accounts to hand. All formulas are visible and no cell is locked, so you can trace or extend any line.
Why you need this model
A valuation is only as strong as the link between the past and the forecast. Buyers, auditors, and banks all ask the same thing: why should next year look different from the last five? This model keeps that answer in view on every tab. It also shows three methods side by side, so you present a range you can defend, not a single number you have to hope nobody questions.
Technical notes
- 15 annual periods: 5 actual and 10 forecast
- Excel 2010 or later and Google Sheets
- No macros, no circular references, no external links, no merged cells
- Single company; not for banks, insurers, or groups that need consolidation
- Sample data is illustrative; replace it with your own
Licences
- Free PDF Preview: shows the layout and outputs before you buy
- Excel Model, Business Licence: for use inside your own company
- Excel Model, Consulting Licence: for use on client engagements
About the author
Built by Ahmad Din, ACCA, FMVA, AFM, a corporate finance and transaction advisory practitioner with 12+ years of experience across Saudi Arabia, the GCC, and Pakistan, and the founder of Financial Modeler Pro. Custom versions of this model are available on request through eFinancialModels.
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