DCF Modeling Tests

Practice building discounted cash flow models in Excel with realistic, hands-on financial modeling tests.

These DCF modeling tests range from a straightforward DCF to more realistic cases that require you to connect financial statements, forecasts, valuation assumptions, and sensitivity analysis. Choose a case based on your experience level and work through the model yourself.

DCF Modeling Practice Tests

01 Beginner

Simple DCF Model

A straightforward DCF exercise covering the core mechanics of forecasting free cash flow, calculating terminal value, and discounting cash flows to arrive at enterprise value.

Time: 45 min Level: Easy
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02 Intermediate

DCF Model — WebMD

Build a more complete DCF model using historical financials, operating forecasts, valuation assumptions, and sensitivity analysis.

Time: 1 hr Level: Medium
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03 Intermediate

DCF Model — Activision Blizzard

Practice building a DCF from company financials and operating assumptions while connecting the forecast, valuation, and trading comparables into one integrated model.

Time: 1.5 hrs Level: Medium
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04 Advanced

DCF Model — Oracle

An advanced DCF modeling test designed to challenge your ability to build a detailed forecast and valuation model using realistic company financials.

Time: 3 hrs Level: Hard
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04 Advanced

DCF Model — Target

An advanced DCF modeling test that challenges you to forecast Target’s merchandise category revenue, model margin recovery and working capital, calculate WACC using peer betas, and value the business using two terminal value methods.

Time: 3 hrs Level: Hard
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Practice DCF Modeling Hands-On

Stop watching tutorials and build the model yourself. Quantus gives you an interactive Excel-like environment to practice financial modeling with instant feedback and hints when you need them.

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