Overview

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Master financial statement analysis, cash flow evaluation, and equity research techniques used by professional financial analysts. Learn how to interpret financial data, evaluate profitability and risk, and apply financial modelling frameworks to make informed investment decisions. This course provides a practical, step-by-step approach to equity research using the real-world case study of Walgreen Co. You’ll learn how to analyze consolidated financial statements, evaluate working capital efficiency, and interpret key financial performance indicators used in professional financial analysis and investment research. Through structured lessons and Excel-based modelling techniques, you’ll explore cash flow mechanics, common size analysis, profitability evaluation, and return metrics such as ROE and ROIC. The course also introduces advanced analytical frameworks including DuPont analysis, lease capitalization, solvency assessment, and capital structure analysis to help learners gain deeper insights into financial performance and business risk. A unique feature of this course is its strong application-oriented approach that combines real-world examples, financial modelling workflows, and analytical frameworks commonly used in equity research and financial analysis roles. This enables learners to connect financial theory with practical investment analysis techniques. By the end of the course, you’ll be able to analyze financial statements confidently, evaluate company performance and risk, interpret key financial ratios, and apply professional equity research techniques to support investment decision-making.

Syllabus

Foundations of Financial Modelling & Walgreen Overview

This module introduces the fundamentals of financial modelling with a focus on Walgreen Co., covering consolidated financial statements and building a strong foundation for financial analysis.

Cash Flow Mechanics & Financial Statement Insights

This module explores cash flow mechanics, common size analysis, and key financial statement insights to enhance understanding of financial health and reporting.

Working Capital & Efficiency Analysis

This module focuses on working capital management and efficiency ratios, helping learners assess operational effectiveness and cash cycle dynamics.

Profitability & Return Metrics

This module examines profitability ratios and return metrics, enabling learners to assess financial performance and value creation.

Advanced Profitability & DuPont Analysis

This module introduces advanced profitability analysis using the DuPont system, enabling deeper insights into return on equity drivers.

Efficiency, DuPont Extensions & Performance Evaluation

This module expands on efficiency and DuPont analysis while introducing performance evaluation and risk assessment techniques.

Risk, Leases & Capital Structure

This module explores risk analysis, lease capitalization, and capital structure, providing insights into financial leverage and accounting adjustments.