Build Models
Cell by Cell.
Like Analysts Do.
Not templates you copy. Not theory you memorize. A blank spreadsheet that becomes a living three-statement model — assumption by assumption, formula by formula, until the logic clicks.
| Line Item | FY 2024A | FY 2025E | FY 2026E |
|---|---|---|---|
| Income Statement ($ in millions) | |||
| Revenue | $450M | $504M | $564M |
| Cost of Goods Sold | $-144M | $-161M | $-181M |
| Gross Profit | $306M | $343M | $384M |
| EBITDA | $108M | $121M | $135M |
| D&A | $-18M | $-20M | $-23M |
| EBIT | $90M | $101M | $113M |
| Interest Expense | $-9M | $-9M | $-9M |
| Net Income | $64M | $73M | $82M |
| Key Margins | |||
| Gross Margin % | 68.0% | 68.0% | 68.0% |
| EBITDA Margin % | 24.0% | 24.0% | 24.0% |
| Net Income Margin % | 14.3% | 14.5% | 14.6% |
Build It Once.
Understand It Forever.
Scroll through the first lesson. Each step adds one layer to the model you saw in the demo above.
The Blank Sheet
Open a new workbook. No template. No pre-built formulas. Just column headers: A through Z, rows 1 through 1048576. This is where discipline starts.
The Assumption Tab
Before you type a single formula, you build your assumption sheet. Revenue growth. Margins. Tax rate. Every driver lives here, referenced everywhere else. Change one cell, the model moves.
Revenue Build
Revenue Year 2 = Revenue Year 1 × (1 + Growth Rate). Four cells. One concept. But watch what happens when you link it to your assumption tab — now the entire model breathes.
Income Statement
Revenue minus COGS equals gross profit. Minus OpEx equals EBITDA. Minus D&A equals EBIT. Minus interest equals EBT. Minus taxes equals net income. Twelve rows that tell a company's entire story.
The Three Statements
Net income flows from the P&L into retained earnings on the balance sheet. Operating cash flow starts with net income and adds back D&A. The cash balance on the balance sheet must equal the ending cash on the cash flow statement. When all three agree, your model balances.
Find Your Skill Level.
Before You Assume You Know.
Five questions. Actual spreadsheet visuals. The gap between what you think you know and what you actually know will surprise you.
Ready to find your level?
5 questions across accounting mechanics, valuation logic, and Excel fluency. Uses real spreadsheet visuals — no abstract multiple choice.
The Model Works.
So Do Our Students.
"I came from consulting with zero accounting. ModelMaster's cell-by-cell approach made the three-statement model click in a way that no bootcamp or YouTube video ever did. I passed my superday modeling test on the first try."
"I'd been using the same template for two years without understanding half the formulas. Three modules in, I rebuilt our DCF from scratch and found a linking error that had been inflating our target price by 8%."
"The diagnostic showed me I was weak on circular references and working capital mechanics. I spent two weeks on those two modules. Vista's case study was literally a circular reference problem. I caught it in four minutes."
Module 1 is Free.
No Credit Card. No Catch.
90 minutes. A blank spreadsheet. An income statement that actually makes sense when you're done. If it doesn't click, you walk away. No pressure.
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