Scenario analysis in Excel: base, upside and downside cases
Switch a finance model between base, upside and downside cases with one driver cell, check each case with hand calculations, and see how scenarios differ from sensitivity grids.
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WACC formula: assemble and audit the discount rate
Assemble Northgate's WACC in Excel from a transparent, cell-by-cell assumptions table, cross-check it two ways, and see how a 0.37-point error moves a terminal value.
Circular references in Excel: trace the loop before you iterate
Reproduce an accidental self-including SUM, then build a revolver loop that funds its own interest. Compare timing, algebraic and iteration fixes with checked numbers.
Interest coverage ratio: calculate it and explain what changed
Calculate three years of interest coverage on a fictional borrower, compare EBIT and EBITDA conventions, run a downside and reconcile the interest figure to the debt schedule.
Percentage change in Excel: growth, declines and zero bases
Calculate percentage change in Excel with one formula, catch the ratio-not-change mistake, and handle negative and zero starting values and percentage points on a checked variance table.
Terminal value formula: two methods with a worked DCF example
Calculate terminal value using perpetual growth and exit multiples. Follow worked Excel formulas, discount to today, and check each method's implied assumptions.