You are about to commit the capital. One page should tell you if it comes back.
A free Excel model that turns five years of revenue, margin, capex and working capital assumptions into a discounted cash flow valuation, a payback period, a return on capital employed, and two multiple-based cross-checks — on a single summary page. Built by experienced finance professionals.
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- DCF · payback · return on capital
- Excel format
- No credit card required
- Updated 2026
One assumptions sheet in. One summary page out. Full workings in between.
Five tabs in total, including a cover sheet with links to each one and a written instruction sheet. Sample data ships in the file, so you can see a completed valuation before you change a single input.
Assumptions
Everything you control, on one page: entity and dates, tax rate, currency and denomination, upfront capex, three revenue streams with growth by year, gross and operating margins by year, capex, working capital and depreciation as percentages of revenue, then discount rate, long-term growth, and the two cross-check multiples.
DCF analysis
The full workings, laid out the way a reviewer expects to read them: revenue by stream, gross margin, EBITDA, depreciation, EBIT, tax, debt-free net cash flow, mid-period discount factors, and the terminal value calculation — plus a working capital schedule underneath.
Valuation summary
Three answers on one page. The DCF split between explicit period and terminal value, the payback period against cumulative cash flow, and gross return on capital employed — with enterprise value on a revenue multiple and an EBITDA multiple alongside as a sanity check.
Every assumption on one sheet. Nothing hardcoded downstream.
The reason most spreadsheet valuations cannot be reviewed is that assumptions are scattered through the workings, so a reviewer cannot tell an input from a calculation. Here they are all in one place, in yellow, and the DCF tab contains no hardcoded numbers at all.
Margins and growth are entered per year rather than as a single rate, which matters — a business at 40% gross margin scaling to 45% is a different investment from one holding flat, and a single blended assumption hides that entirely.
A single valuation number is a decision waiting to be argued with.
Anyone can produce one enterprise value. The difficulty is that the number is only as good as the method behind it, and different methods applied to the same forecast do not agree — not by a little, by multiples. Here is the sample forecast's final year valued two entirely defensible ways.
When two methods disagree by that much, the useful work is explaining the gap, not picking the friendlier number. A buyer paying 10× EBITDA is paying for margin durability; a buyer paying 1× revenue is paying for the top line and discounting your ability to hold the margin. Which of those is the right frame for your business is the actual conversation — and you can only have it once both numbers are on the page.
The same discipline applies inside the DCF. Terminal value is typically the majority of the total, and it is driven by two inputs rather than by the forecast: the discount rate and the long-term growth rate. At 20% and 3% the capitalisation divisor is 17%, so moving either input by a single point changes the terminal value by roughly 6% — more than most arguments about year-four revenue ever will. The model separates explicit period from terminal value on the summary page precisely so you can see how much of your answer rests on those two cells.
And valuation on its own is not an investment decision. The summary page also reports payback against cumulative cash flow and gross return on capital employed, rising from 20.9% to 47.1% across the sample forecast. A project can carry an attractive enterprise value and still be the wrong use of capital if it takes too long to return it.
One sheet to fill. Three answers out.
Every input sits on the assumptions tab. Nothing downstream needs touching.
General information
Entity, start date, first forecast year, tax rate, currency and denomination, and the upfront capital the investment requires.
Revenue & margins
Base revenue for up to three streams, then growth, gross margin and operating margin year by year. Use separate streams only where you can forecast them separately.
Capital & valuation
Capex, working capital and depreciation as percentages of revenue, then the discount rate, long-term growth rate, and the two multiples you want as cross-checks.
Read the summary
DCF value split between explicit period and terminal value, payback period, gross return on capital, and both multiple-based valuations side by side.
Honest qualification. No fluff.
This model is for you if:
- You are appraising a specific investment — a new site, a line, an acquisition, an expansion — with an upfront capital cost.
- You have a term sheet, or a basic set of numbers to work from — revenue, margins, and growth.
- You have a rough idea of the industry multiples and the discount rate that apply.
- You want a quick, high-level valuation to anchor a decision — not a formal, fully-built model.
- You want every assumption visible on one page so a reviewer can challenge it.
This is not for you if:
- You need a formal valuation opinion for tax, litigation, 409A, or a shareholder dispute — that requires a credentialed appraiser and a written report.
- You need a full three-statement model with a balance sheet and debt schedule.
- You need scenario or sensitivity analysis across many variables at once.
- The business is early stage with no revenue you can credibly forecast — a DCF will tell you whatever you want to hear.
- You need purchase price allocation or intangible asset valuation post-deal.
This is a high-level appraisal tool for internal investment decisions. For a formal valuation a counterparty will accept — documented methodology and a written report — book a call and we'll build it with you.
Questions about the model, answered honestly.
What format is the model?
Is this a formal business valuation?
Why does the model discount using periods like 0.375, 1.25 and 2.25?
How is the terminal value calculated?
Is this really free? Any catch?
What if I need a valuation I can rely on for a transaction?
Need a valuation a counterparty will actually accept?
An internal appraisal and a defensible valuation are different documents. EasePro's Business Valuation Services cover formal valuations with documented methodology, comparable company and transaction analysis, and a written report — the version that survives a buyer's advisor, a lender's credit committee, or a tax authority.
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