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Support Portal (Equity Research)

Excel model manual              EVA Valuation             Administrator help                 Excel tutorial video

Help files by topic

Valuations basics

  • Estimating long-term growth and profitability
  • Seasonal variation in estimates
  • How far should I estimate in quarter level (net sales and EBIT)?
  • What is important in analysis to try to estimate?
  • Where to get information about companies?

Income statement

  • Calculation Paths between Income Statement
  • Non-recurring items included in EBIT
  • What to do if company does not report depreciation?
  • What to do if company tells nothing about taxes?
  • Associated companies’ profit is reported before EBIT
  • Quarterly information is not available
  • Net sales is in division level but EBIT is in group level

Forum & analysis commenting

  • Guide for using graphs and images in forum comments
  • Guide for editing forum comment text
  • The track-record and creditability of current management
  • Description of competitive situation and position in markets
  • Setting and arguing recommendation
  • General instructions for providing comments in company specific forums

Valuation literature

  • Valuatum Research projects
  • EVA Valuation tutorial
  • EVA-MVA graphs from Finnish companies
  • Damodaran webpages (Prof. Finance at Stern Business School)

Balance sheet

  • Calculation Paths between Income Statement
  • How the Balance sheet is made even?
  • Parameter allocation – Balance sheet liabilities
  • Company does not tell the share of interest bearing debt
  • Parameter allocation – Assets

Web interface

  • Consensus estimates
  • How to use multi-criteria rankings?
  • How to change estimates?
  • Initiation of coverage

Excel model

  • Information about cell protection
  • Automatic calculation of quarterly estimates for next year
  • Advanced Excel Information
  • How to make changes to the Excel model?
  • The chart macro in the Excel model – how to use the chart efficiently
  • How to change year in the Excel model?
  • How to start new division or end existing one?
  • Circular reference problem
  • I have to change black output cell even though it is not allowed
  • How much history data should I fill at minimum?
  • How to set value for Tangible assets / net sales %?
  • Adjustments to stock splits and issues
  • Reported cash flow parameters
  • Instructions for share issue
  • Estimating EBITDA instead of EBIT
  • Estimate period lenght
  • Unable to run the “Year change” macro
  • Application- or object-defined error
  • Forecasting Depreciations & Amortization

Wacc & Valuation

  • EVA-Valuation
  • DCF-Valuation
  • Fair value is negative in the model
  • Setting fair value and the meaning of DCF
  • WACC – Parameter guidance

Data Transfer

  • Prepare company in the database
  • Possible problem: Microsoft WinHTTP Services (winhttp.dll)
  • Database Update Errors and Solutions
  • How to copy company data from database to Valuatum Excel model (DB2Excel)?

Excel Model Update (Conversion)

  • What, when and why?
  • How to update Excel model(s)?

Java applet

  • How is the Balance sheet is made even?
  • DCF and EVA
  • Estimating dividends
  • Estimating Working capital
  • Estimating fixed assets and gross investments
  • Estimating Balance sheet parameters
  • Estimating Net sales
  • Estimating EBIT
  • Estimating Income statement parameters

Word template

  • Installation
  • Save & Load

Valuatum’s old web pages (2001) 

Valuatum’s old web pages (2009)

Valuatum’s old web pages (2018)