$199.00 USD

**Legal Disclaimer: Intellectual Property and Course Materials** 


All content, materials, videos, documents, quizzes, and any other resources provided within this course (collectively, the “Materials”) are the exclusive property of The Wall Street Skinny and are protected by copyright, trademark, and other intellectual property laws. By purchasing and accessing this course, you are granted a limited, non-transferable, non-exclusive license to use the Materials for personal, educational purposes only. You are **strictly prohibited** from sharing, distributing, copying, modifying, or publicly displaying any of the Materials without the express written permission of The Wall Street Skinny. This includes but is not limited to the transmission of the Materials via email, file sharing platforms, or any other means to third parties who have not purchased the course. 

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Valuation Fundamentals

This course is a comprehensive, hands-on introduction to corporate valuation.

Across 26 modules, and multiple hands on models you'll work through all three core valuation methodologies used in investment banking and corporate finance — public comparables, precedent transactions, and the discounted cash flow analysis — and see how they come together on a football field valuation.

You'll start with the foundational mechanics: the distinction between equity and enterprise value, how to calculate diluted shares (including the nuances of options, restricted stock, and dual-class share structures like Fox's and WayStar's), and how to build apples-to-apples valuation multiples. From there, you'll spread a real public comp using Fox's 10-K and 10-Q, then move into deal comps — including the Option Spread and Netting Option Proceeds methods, exchange ratios, synergies, premiums paid analysis, and a full walkthrough of the Disney/21st Century Fox transaction (with the wrinkle of "grossing up" multiples for an 80% acquisition).

The DCF section goes deep on WACC and CAPM, including how to choose the right beta, source a risk-free rate (domestically and abroad), unlever and relever betas for private companies, estimate the market risk premium, and reason about optimal capital structure across competing academic theories.

You'll then build unlevered free cash flows, master discounting mechanics (PV, NPV, XNPV, mid-period convention, stub periods), and calculate terminal value using both perpetuity growth and exit multiple methods.

The course closes with a full DCF build for WayStar in Excel — historicals, projections, implied TEV and share price, sensitivity tables, and a final tie-back to the football field.

By the end, you'll understand not just the formulas but the judgment calls that separate textbook valuation from how it's actually done on the desk.

FAQs:

Q: How long will I have access to the course?
 

A: Great news! Your one-time purchase grants you two full years of access to get you through your internships and onto the desk full time. We will have an option to renew your access for a fee every year thereafter.