Excel Fundamentals - Formulas for Finance Strictly Confidential

Table of Contents

Pricing
Aggregate
Lookups
Dates
Returns

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 Invoice Data Pricing Analysis Pricing Range

Invoice Item Price Calculation Amount High Priced Items Amount

001 Soloist 120 Minimum 90 1 415
002 Teamer 230 Maximum 415 2 410
003 Xtreme 405 Average 267 3 405
004 Maxio 350 Median 240 4 360
005 Maxio 360 5 350
006 Teamer 240
007 Xtreme 415 Round Digits Amount Low Priced Items Amount
008 Soloist 110 Average 2 267.0800 1 90
009 Selfie 90 Average 1 267.1000 2 110
010 Xtreme 410 Average 0 267.0000 3 120
011 Teamer 235 Average (1) 270.0000 4 230
012 Teamer 240 Average (2) 300.0000 5 235

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 Invoice Data Revenue by Single Items

Single Item? Single Item?

Invoice Item Quantity Price Revenue Single Item? Item Yes No Revenue
001 Soloist 1 120 120 Yes Maxio – 2,480 2,480
002 Teamer 2 230 460 No Selfie 90 – 90
003 Xtreme 1 405 405 Yes Soloist 120 220 340
004 Maxio 4 350 1,400 No Teamer – 3,080 3,080
005 Maxio 3 360 1,080 No Xtreme 815 1,245 2,060
006 Teamer 5 240 1,200 No Totals 1,025 7,025 8,050
007 Xtreme 3 415 1,245 No
008 Soloist 2 110 220 No
009 Selfie 1 90 90 Yes
010 Xtreme 1 410 410 Yes
011 Teamer 4 235 940 No
012 Teamer 2 240 480 No
Totals 29 277.59 8,050

Revenue by Item Revenue for Select Items

Item Invoices Quantity Price Revenue Item Revenue

Maxio 2 7 354 2,480 Soloist 340
Selfie 1 1 90 90 Xtreme 2,060
Soloist 2 3 113 340 Totals 1 –
Teamer 4 13 237 3,080
Xtreme 3 5 412 2,060 SUMIFS only works for AND logic. ⁽¹⁾
Totals 12 29 278 8,050 SUMIFS does not work for OR logic.

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 Commission Rates

Item 1 2 3 4 5
Commission 2.5% 3.5% 4.0% 2.0% 4.5%

Item Commission
1 2.5%
2 3.5%
3 4.0%
4 2.0%
5 4.5%

Commission Calculations

Commission
Invoice Item Revenue HLOOKUP VLOOKUP XLOOKUP 1 XLOOKUP 2 Commission
001 4 2,282,204 2.0% 2.0% #NAME? #NAME? #NAME?
002 5 6,401,594 4.5% 4.5% #NAME? #NAME? #NAME?
003 3 7,894,289 4.0% 4.0% #NAME? #NAME? #NAME?
004 1 3,005,743 2.5% 2.5% #NAME? #NAME? #NAME?
005 1 4,577,483 2.5% 2.5% #NAME? #NAME? #NAME?
006 5 104,240 4.5% 4.5% #NAME? #NAME? #NAME?
007 3 2,039,131 4.0% 4.0% #NAME? #NAME? #NAME?
008 4 5,012,584 2.0% 2.0% #NAME? #NAME? #NAME?
009 2 5,259,105 3.5% 3.5% #NAME? #NAME? #NAME?
010 5 6,425,351 4.5% 4.5% #NAME? #NAME? #NAME?
011 3 8,849,817 4.0% 4.0% #NAME? #NAME? #NAME?
012 5 6,519,142 4.5% 4.5% #NAME? #NAME? #NAME?
Total 2,146,139

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 Monthly Modeling

All figures in USD thousands unless stated Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24

Current Date 2024-08-10

Model Start 2024-01-01

Sales Volume (Units) 510,000 515,000 520,000 525,000 530,000 535,000 540,000 545,000 550,000 555,000 560,000 565,000
Sales Price (USD/Unit) 105.00 105.00 105.00 105.00 105.00 105.00 110.00 110.00 110.00 110.00 110.00 110.00
Revenue 53,550 54,075 54,600 55,125 55,650 56,175 59,400 59,950 60,500 61,050 61,600 62,150

Quarterly Modeling

All figures in USD thousands unless stated Mar-24 Jun-24 Sep-24 Dec-24 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Jun-26 Sep-26 Dec-26

Model Start
Year 2024
Month 01
Day 01
Date 2024-01-01

Sales Volume (Units) 510,000 515,000 520,000 525,000 530,000 535,000 540,000 545,000 550,000 555,000 560,000 565,000
Sales Price (USD/Unit) 105.00 105.00 105.00 105.00 105.00 105.00 110.00 110.00 110.00 110.00 110.00 110.00
Revenue 53,550 54,075 54,600 55,125 55,650 56,175 59,400 59,950 60,500 61,050 61,600 62,150

Annual Modeling

All figures in USD thousands unless stated 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035

Start Year 2024

Sales Volume (Units) 510,000 515,000 520,000 525,000 530,000 535,000 540,000 545,000 550,000 555,000 560,000 565,000
Sales Price (USD/Unit) 105.00 105.00 105.00 105.00 105.00 105.00 110.00 110.00 110.00 110.00 110.00 110.00
Revenue 53,550 54,075 54,600 55,125 55,650 56,175 59,400 59,950 60,500 61,050 61,600 62,150

Excel Fundamentals - Formulas for Finance Page 5 of 7

 Debt Payments

All figures in USD thousands unless stated Jan 1, 2024 Feb 1, 2024 Mar 1, 2024 Apr 1, 2024 May 1, 2024 Jun 1, 2024 Jul 1, 2024 Aug 1, 2024 Sep 1, 2024 Oct 1, 2024 Nov 1, 2024 Dec 1, 2024
45352A
First Payment 2024-01-01
Frequency 1 Months

Sales Volume (Units) 510,000 515,000 520,000 525,000 530,000 535,000 540,000 545,000 550,000 555,000 560,000 565,000
Sales Price (USD/Unit) 105.00 105.00 105.00 105.00 105.00 105.00 110.00 110.00 110.00 110.00 110.00 110.00
Revenue 53,550 54,075 54,600 55,125 55,650 56,175 59,400 59,950 60,500 61,050 61,600 62,150

Stub Period Calculation

All figures in USD thousands unless stated

Valuation Fiscal Years
(YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD) (YY-MM-DD)
24-03-31 24-12-31 25-12-31 26-12-31 27-12-31 28-12-31 29-12-31 30-12-31 31-12-31 32-12-31 33-12-31 34-12-31

UNADJUSTED CASH FLOW

Unlevered Free Cash Flow – 16,000 18,000 20,000 22,000 25,000 28,000 31,000 34,000 37,000 40,000 43,000

ADJUSTED CASH FLOW 13

Partial Period Adjustment – 75.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Unlevered Free Cash Flow – 12,000 18,000 20,000 22,000 25,000 28,000 31,000 34,000 37,000 40,000 43,000

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 Weighted Average Cost of Capital

Weight Cost
Debt Capital 15.0% 7.5%
Equity Capital 85.0% 11.5%

Weighted Average Cost of Capital 10.90%

Net Present Value & Return Calculations

We have assumed a valuation date of December 31, 2023 for both examples below.

Irregular Cashflow Timing Regular Cashflow Timing

Dates Cashflows WACC 10.90% Dates Cashflows WACC 10.90%

12/31/2023 (300,000) 12/31/2023 (300,000)
12/3/2024 68,601 NPV 65,954 12/31/2024 68,601 NPV 65,954
12/12/2025 42,060 XNPV 1
68,151 12/31/2025 42,060 XNPV 3
65,784
12/1/2026 78,129 12/31/2026 78,129
12/7/2027 81,831 IRR 15.621% 12/31/2027 81,831 IRR 15.621%
12/8/2028 28,250 XIRR 2 15.844% 12/31/2028 28,250 XIRR 4 15.605%
12/9/2029 64,676 12/31/2029 64,676
12/2/2030 21,839 12/31/2030 21,839
12/24/2031 49,230 12/31/2031 49,230
12/25/2032 28,472 12/31/2032 28,472
12/20/2033 92,910 12/31/2033 92,910
12/2/2034 95,392 12/31/2034 95,392

The NPV result is incorrect in this case, but the XNPV result is correct. ⁽¹⁾ The XNPV result is roughly equal to the NPV result. ⁽³⁾
The NPV function always assumes even spacing for the cash flows. The slight difference comes from the treatment of leap years.

The IRR result is incorrect in this case, but the XIRR result is correct. ⁽²⁾ The XIRR result is roughly equal to the IRR result. ⁽⁴⁾
The IRR function always assumes even spacing for the cash flows. The slight difference comes from the treatment of leap years.

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