01 / OPERATING DRIVERS
Model how the company works.
Launches × price. Subscribers × spend. Volume × margin. Start with the operating drivers that matter.
LATEST MODEL / SPACE & CONNECTIVITY
SpaceX.
Model what
comes next.
From launches and Starlink to computing power. Explore the operating assumptions—and the capex behind them.
Explore SpaceX modelEditable Excel · $19.99 once · 12 months of updates
COMPUTING POWER / CAPEX BREAKDOWN
- Compute
- GPU capacity × unit cost
- Power & cooling
- MW × infrastructure cost
- Network & facilities
- Build-out assumptions
Illustrative capex framework · assumptions remain editable
MODEL SPOTLIGHT / AI & SEMICONDUCTORS
NVIDIA.
Get beneath
the AI story.
Connect Data Center compute, networking and Edge Computing to the cash flows behind the valuation.
Explore NVIDIA modelEditable Excel · $19.99 once · 12 months of updates
OPERATING DRIVERS / FROM DEMAND TO VALUE
- Data Center
- Compute and networking
- Edge Computing
- Company-specific drivers
- Valuation
- Cash flows and sensitivities
Explore the underlying assumptions in Excel
MODEL SPOTLIGHT / ENERGY & INFRASTRUCTURE
Vertiv.
Power the
AI thesis.
Explore how hyperscaler investment flows into infrastructure products, regional demand and services.
Explore Vertiv modelEditable Excel · $19.99 once · 12 months of updates
INFRASTRUCTURE / FOLLOW THE INVESTMENT
- Demand
- Hyperscaler capex
- Products
- Regional revenue drivers
- Services
- Recurring support activity
Explore the underlying assumptions in Excel
30company models
4linked worksheets
12 monthsdownloads & updates
One paymentno automatic renewal
BUILT AROUND THE BUSINESS
Understand the drivers.
Build a view you can explain.
Go beyond a growth-rate assumption. See what creates revenue, what absorbs capital, and what reaches cash flow.
02 / SCENARIOS
See what changes the answer.
Edit assumptions and follow their effect through linked statements, cash flow and valuation.
03 / DATED EDITIONS
Keep your analysis moving.
Download revised editions and new additions during your 12-month access period. Keep the files you download.
THE DIFFERENCE IS IN THE MODEL
A working model.
Not a spreadsheet time capsule.
| WHAT MATTERS | DCF ModelsCompany-specific. Driver-led. | A one-off static templateA starting file, with a fixed example. |
|---|---|---|
| Forecast logic | Real operating drivers | A headline growth-rate assumption |
| Company relevance | Companies you follow today | A fixed case study or legacy example |
| After download | Dated editions + update access | One version, without an update service |
| Model authorship | Investment-banking experience | Author and methodology may be unclear |
Illustrative comparison with a static template; features vary by provider. No fixed update cadence is promised.
Built by a former
Goldman Sachs banker.
Shaolong Lin brings investment-banking experience to independent, business-driver-led financial models.
DCF Models is independent. Goldman Sachs does not endorse or sponsor these models.
Meet the model authorTHE MODEL COLLECTION
Different industries.
Different engines of value.
30 company-specific models. Find the business you want to understand.
3 MODELS
Software & learning
Salesforce · Adobe · Duolingo
Explore collection
7 MODELS
Energy & infrastructure
Vertiv · GE Vernova · Eaton + 4
Explore collection
STILL DECIDING?
Start with
the free model.
Get a simplified SpaceX DCF workbook and see how the financial statements connect.
Download free DCF modelNo payment. Email confirmation required.
SPACEX / FREE STARTER MODEL
5 modeled years. 4 connected worksheets.
One revenue-growth assumption and simple operating ratios. A clear introduction before the full driver-based models.
FROM THE PEOPLE USING THE MODELS
Make the model
part of your thinking.
INTERVIEWS. STOCK PITCHES. THE CONFIDENCE TO EXPLAIN YOUR WORK.
I WALKED INTO MY SUPERDAY ABLE TO EXPLAIN EVERY SINGLE LINE OF MY MODEL
I'm at a non-target, so I knew I had to out-prep everyone. My models before this were always the same: revenue grows 8%, everything else stays flat, done. The NVIDIA file made me actually defend a number. The Data Center forecast is built off hyperscaler capex, and there's a written rationale under the driver explaining where every input came from.
Second round, the MD asked why data center growth decelerates in the back half. I gave him the driver logic instead of "conservatism," and we spent ten minutes on it. He said it was the most specific answer he'd gotten all day. That was worth way more than the $19.99.
THE SOURCE NOTES SAVED ME IN FRONT OF THE JUDGES
Case competition, regional final. A judge pushed on our terminal growth assumption and then on capex, and I could point to the exact note and the filing the number came from. Not "we assumed it because it felt reasonable." Every forecast input in these files carries a reason, and the valuation date is stamped on the edition so you know what you're looking at.
Our previous models were held together with hardcodes and hope. This one held up under questioning, which is a different thing entirely.
OUR CLUB PITCH WENT FROM 'NICE DECK' TO 'WHO BUILT THIS?'
We used the Costco model for our stock pitch and reworked the warehouse count and revenue-per-warehouse drivers with our own numbers. The judges stopped asking about our theme slide and started asking about our forecast, which is exactly what we wanted.
The part that actually mattered was being able to change the yellow cells live during Q&A and have the whole model re-flow in front of them. Two of the judges asked where we got it. We told them.
CHEAPER THAN ONE MONTH OF THE COURSE EVERYONE TOLD ME TO BUY
I was about to drop $300 on a modeling course when a friend sent me this. $59.99 for 30 real companies, one time, and the files are actual editable workbooks instead of videos I'd watch at 2x and forget.
To be fair, it doesn't teach you finance from zero. You need to know what WACC is before you open it. But once you do, this is the fastest way I've found to see how a real model is actually put together, and I'm on a student budget so that counts for a lot.
I REBUILT MY OWN MODEL AFTER TWO NIGHTS WITH THESE FILES
I taught myself Excel, so my problem was never the formulas, it was the architecture. I downloaded the free SpaceX workbook, opened the paid NVIDIA file next to it, and reverse-engineered how the tabs link: blue for hardcoded, yellow for assumptions, green for links, black for calculations.
Two weeks later I built a full three-statement model for a class project from scratch, and my professor asked who taught me. Nobody did. I just copied a structure that actually works. Still waiting on that video walkthrough though.
START WITH A STRONGER MODEL
Your next investment idea.
A clearer starting point.
Get the full collection of company-specific Excel models, plus updates and new additions during your access year.
Prefer one company? Individual models are $19.99.
$59.99 USD
paid once
30 models · 12 months of downloads & updates
No automatic renewal · Single-user license