• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Safal Niveshak

Wit. Wisdom. Value Investing.

  • Articles
  • Newsletter
  • Courses
  • Workshop
  • Stock Analysis Excel
  • Podcast
  • Books
  • Ethics
  • Contact
  • Log In
  • Prime
  • Show Search
Hide Search
You are here: Home / Investing / Analyze a Stock in 30 Minutes (Free Excel)

Analyze a Stock in 30 Minutes (Free Excel)

A few readers have accused me in the past of being a sadist who wants them to do the dirty work of analyzing companies on their own, instead of simply recommending stocks like so many other blogs do.

But I’d rather give you a compass instead of a map, for you can confuse map with territory and lose your life’s savings walking that path!

In this pursuit of handing you another compass, here is an excel file (see below) that you can download on to your PC, and analyze not just the past performance of a company but also arrive at its intrinsic value in 30 minutes or less (only after you already have the annual reports with you).

Download Our Stock Analysis Excel Template
Simply sign up for our free e-letter – The Safal Niveshak Post – to receive practical ideas
and wisdom on investing smartly and successfully…right in your inbox

Already a subscriber to The Safal Niveshak Post? Access the document by clicking “Download Our Special E-Books, Reports, and Excel Templates” at the footer of the latest post email you have received.

Now when I say you can do all this in 30 minutes, I do not mean you can decide on the stock in so less a time.

It’s just that, in 30 minutes, you can do the dirty work of number-crunching that can aid your overall decision-making process. Now that’s what I call a “back-of-the-envelope” approach to stock analysis.

If you have been into financial modelling in the past, this excel file may seem like a child’s play. But, if my ten years of experience as an analyst is anything to go by, this is all you require to “quantitatively” analyse stocks…not models running into hundreds of rows and tens of sheets.

I have personally tried my hands at both the kind of models – the simple one that you can download below, and the complex ones that most analysts use in their doomed pursuits of finding the elusive target prices.

Anyways, the excel I am sharing with you will show you that stock analysis isn’t rocket science. Of course you must do some hard work. But more importantly, you must behave well instead of putting your entire faith on numbers spewed out by this (or any) excel.

Anyways, this excel file has the following sheets:

  1. First Page: This sheet contains some basic data of the company and a lot of warnings and disclaimers.
  2. Checklist: Most important sheet! It contains a simple Buffett checklist that will help you a lot in your overall decision-making.
  3. Balance Sheet: Enter the balance sheet numbers here (only the ones in red font).
  4. P&L Account: Enter the income statement numbers here (only the ones in red font).
  5. Cash Flow: Enter the cash flow numbers here, and also calculate the free cash flow (only the ones in red font).
  6. Ratios: All numbers in this sheet are automatically generated using values you entered in the previous three sheets. Don’t touch a formula in this sheet, until you want to modify as per your own understanding. I have explained most ratios here. You just need to hover the mouse on a term to know its definition.
  7. DCF: This sheet calculates the discounted cash flow or DCF-based intrinsic value of the stock, after you input some key numbers.
  8. Fair Value: This is the final sheet, and shows you the fair value range of the stock based on all other sheets that you have been through till now.

In all the sheets, you just need to fill out the values shown in red font, while leaving every other calculation as it is.

(This excel won’t work for banking and financial services companies.)

Now, download the excel sheet from the link below.

Download Our Stock Analysis Excel Template
Simply sign up for our free e-letter – The Safal Niveshak Post – to receive practical ideas
and wisdom on investing smartly and successfully…right in your inbox

Already a subscriber to The Safal Niveshak Post? Access the document by clicking “Download Our Special E-Books, Reports, and Excel Templates” at the footer of the latest post email you have received.

Words of warning!
Before you get down to using this excel, remember six critical things…

  1. It’s just a compass, and not a map. So take your next step carefully.
  2. Don’t look for perfection. It is overrated.
  3. Focus on decisions, not outcomes.
  4. Look for disconfirming evidence. Avoid falling in love with the numbers.
  5. Remember Charlie Munger who said, “All I want to know is where I’m going to die, so I won’t go there.” Depending just on this excel for decision-making can really kill you (financially)!

Junk all broker/analyst reports you have been reading all these years…for now the power to analyze stocks on your own lies with you.

Let me know if you found this excel helpful.

I will try to improve upon this in the future based on your feedback.

Join 90000+ Smart Investors

Subscribe to our best stuff on investing, stock analysis, and human behaviour. Plus get access to Seven E-Books on Investing + Two Special Reports + One Stock Analysis Template. All for FREE!

No charge. Unsubscribe anytime.

Be a part of our growing tribe. Join us on Twitter.

Reader Interactions

Comments

  1. Ganesh says

    March 10, 2013 at 7:31 pm

    You have done real hard work Vishal. Really useful stuff that will ensure that key numbers are not missed out.

    Reply
    • Vishal Khandelwal says

      March 10, 2013 at 10:16 pm

      Thanks Ganesh! Hope you find it useful. Regards.

      Reply
  2. Dev says

    March 10, 2013 at 10:03 pm

    Amazing work Vishal.
    This seems to be the ‘Bramhastra’ investors need to use for investing. 🙂
    The detailed work shows the effort that must have been put in it.
    Great work. Really appreciate it.

    Reply
    • Vishal Khandelwal says

      March 10, 2013 at 10:13 pm

      Thanks Dev! 🙂

      Well, I re-read on Brahmastra – “It never misses its mark and must be used with very specific intent against an enemy, whether an individual or army, as the target will face complete annihilation.”

      In investing, ironically, the target is no one but the one who’s shooting the arrow. 🙂

      So, shooter beware!

      Reply
      • Dev says

        March 11, 2013 at 10:33 pm

        Well said Vishal. 🙂

        Reply
    • Raghav says

      November 14, 2015 at 10:15 am

      Thanks lot Vishal, it’s really great work 🙂

      Reply
  3. Jana Vembunarayanan says

    March 10, 2013 at 10:31 pm

    Awesome work Vishal!

    Regards,
    Jana

    Reply
    • Vishal Khandelwal says

      March 10, 2013 at 10:35 pm

      Thanks Jana! Glad you liked it.

      Reply
  4. shankar says

    March 10, 2013 at 10:52 pm

    Amazing work, Vishal…:) Really liked it a lot…:)

    Reply
  5. Akhilesh Pathak says

    March 10, 2013 at 11:01 pm

    Great work Vishal,You are sowing seeds for better investor education and financial freedom. …True to what Thomas Moor said- “Education is not the piling on of learning, information, data, facts, skills, or abilities – that’s training or instruction – but is rather making visible what is hidden as a seed.” .

    Reply
  6. Anand says

    March 10, 2013 at 11:09 pm

    This is awesome, Vishal! Don’t have enough words to thank you. Still, thank you so much for this and everything else! You are one amazing human being and teacher. Cheers!

    Reply
  7. Reni George says

    March 10, 2013 at 11:17 pm

    Dear Vishal
    Man man man……you have just cut the rock and put down the road.Thanks for the same on behalf of all the readers

    Thanks and Regards
    Happy Investing

    Reply
    • Arif Hasan says

      July 5, 2016 at 4:13 pm

      Hi Reni,

      I know it’s long back you had provided the post. Can you please send the excel in which you might have translated the old balance sheet entries to new balance sheet entries? My email-id is arhasan2016@gmail.com

      Thanks & Regards,
      Arif

      Reply
  8. Yogesh Bang says

    March 10, 2013 at 11:22 pm

    Hi,

    Very nice work and very helpful to share it with everyone.

    One major problem which i am facing and everyone might face.. is the change in the reporting system from FY 12-13 especially the balance sheet makes it a bit difficult to put the exact numbers in place historically.

    May be you can have a graph section in your excel which can be helpful in understanding the trend more easily then by going number by number.

    Once again thank you for the excel.

    Regards

    Yogesh N Bang.

    Reply
    • Vishal Khandelwal says

      March 11, 2013 at 7:50 am

      Thanks Yogesh! I had through of putting in charts but many a times, a chart may give a wrong impression and we may just skip over the bigger picture that may come from reading through the raw numbers.

      Yeah, there might be some issues given the slight change in reporting standards, but let’s see if any other tribesman raises this issue….it will be an indication that he/she has read last few years’ annual reports. 🙂

      Thanks & regards.

      Reply
    • Sanjeev Bhatia says

      March 12, 2013 at 6:42 pm

      Our esteemed tribesman Reni has painstakingly put out a detailed explanation on new and old formats of reporting (schedule VI) along with a sample excel sheet on SN group. You can go through that for getting a clearer picture.

      Hope that Helps 🙂

      Reply
      • Arun says

        May 17, 2013 at 12:35 am

        I was not able to find the Reni’s post on on new and old formats of reporting (schedule VI), where can I find it?

        Reply
  9. Nishanth says

    March 10, 2013 at 11:26 pm

    Wow , Vishal , just wow!!!…..This is one awesome excel that anybody who is barely cognizant of reading financial statements can use. Whole hearted thanks on the behalf of the small Indian investor.You do put in a lot of hard work, and that too just to enlighten people you do not know at all.You are a true inspiration.

    Reply
  10. Sudheendra says

    March 10, 2013 at 11:57 pm

    Great work Vishal !! Thanks for this !!
    Just one question, is there any one site where we can get 10 years historical data. Most of the sites give 3-5 years only. And not all annual reports have historical data given. Any suggestions?

    Reply
    • Vishal Khandelwal says

      March 11, 2013 at 7:48 am

      I don’t know of any that I can trust, Sudheendra. That’s why the importance of picking up at least last 10 years’ annual reports. 🙂

      Reply
      • dnyan says

        March 11, 2013 at 10:33 pm

        Did everybody provide 10 years annual reports? I check few companies website and I can get only 2-3 years.

        Reply
    • Krish says

      March 12, 2013 at 1:13 pm

      You can get 10 years of financial data at craytheon.com

      Reply
    • Karthik says

      December 23, 2015 at 1:41 pm

      You have a website called http://www.screener.in which will give you the data for the past 10 years!
      Hope this helps.

      Reply
  11. Vamsi says

    March 11, 2013 at 12:11 am

    This is exemplary work Vishal! Really appreciate your passion.

    Reply
    • Vishal Khandelwal says

      March 11, 2013 at 7:46 am

      Thanks Vamsi! 🙂

      Reply
  12. Sudheendra says

    March 11, 2013 at 12:22 am

    Hi Vishal

    Did not quite understand how can Historical Earnings Growth, Sustainable Earnings Growth estimates be considered as fair value estimates. Dont they have to be discounted? Does it mean stocks are valued based on 10 year total future earnings?

    Reply
    • Vishal Khandelwal says

      March 11, 2013 at 7:45 am

      Yes Sudheendra, it must be discounted. 🙂

      Have updated the excel sheet. Please download again…and thanks for reminding!

      Reply
  13. sanjeev sharma says

    March 11, 2013 at 8:32 am

    Dear vishal
    wow its going to be of great use . only thing which we will face problem to get these values for ten years as annual reports are not available online for these many years. Ur teachings to make us independent thinkers will definitly help us in attaining financial freedom.
    regards

    Reply
  14. satheesh babu says

    March 11, 2013 at 9:58 am

    hi Vishal,
    Thanks for the awesome dessert after the great workshop!

    Reply
  15. Ajay Rawat says

    March 11, 2013 at 10:42 am

    Thanks Vishal

    This is the best gift you could give to your readers.
    Appreciate the efforts and your willingness to freely share the knowledge and resources.

    Reply
  16. Raghu Raman says

    March 11, 2013 at 10:43 am

    Wonderful. Thanks for sharing the excel sheet. I very much like the ‘checklist’ part.

    Raghu

    Reply
  17. Varun Panaskar says

    March 11, 2013 at 12:42 pm

    One of the best excel sheets! Thanks Vishal and keep it up.

    Reply
  18. Vikas says

    March 11, 2013 at 4:32 pm

    Thanks a lot vishal. Really appriciate your efforts and humbleness.

    Vikas Kukreja

    Reply
  19. Shamil Abdul Kader says

    March 11, 2013 at 6:04 pm

    Thanks Vishal. It is very useful. I really appreciate the effort you are putting in.

    I was waiting for DCF spreadsheet, you gave me a gold mine. This is the most precious gift you could give to your readers. I have been searching for something like this for a long time.

    Regards.
    Shamil

    Reply
  20. Kaushik Das says

    March 11, 2013 at 8:18 pm

    Dear Mr. Vishal,

    I don’t even words how to express THANK to you. This is the first time I got a real BONUS which will help me in time to come.

    Regards,

    Kaushik Das

    Reply
  21. Ashwin Rananaware says

    March 11, 2013 at 8:24 pm

    I just wanna say, what a wonderful job of empowering and educating the normal investor, you are doing. Excellent…!!

    Please accept my sincere appreciation of your work. Thanks. God bless you and your family.

    Reply
  22. Mokhtar says

    March 11, 2013 at 8:44 pm

    HI Vishal,

    Thanks for sharing with us this valuable tool.

    Can u let us know about your source of numbers of Asian paints u have entered on the excel sheet. The numbers of the balance sheet on the annual report differ; thats why want to know ur source.

    Reply
  23. Mahadev says

    March 11, 2013 at 11:46 pm

    Dear Vishal,

    Thanks Vishal!!!
    Recently, I was in process to create this kind of valuation models on my own. This will really help me to finalize my valuation model.
    Thanks a lot!

    Regards,
    Mahadev

    Reply
  24. Karthik says

    March 12, 2013 at 9:00 am

    Vishal… An Awsome Work.. An excellent investor empowerment tool…..grt going

    Reply
  25. Nilesh Mundale says

    March 12, 2013 at 4:35 pm

    Vishal….Simply amazing work… well done…

    Reply
  26. Sanjeev Bhatia says

    March 12, 2013 at 6:38 pm

    Wow, Wow and WOW.

    You keep on surprising us these days, Vishal. It really is a treasure trove of a template which will definitely reduce so may man hours of work for lesser mortals like us 😛 , as also reducing the chances of errors. Being one who uses excel extensively, I can imagine the time you must have had to put in, especially when there are so many cross-linkages. Hats Off to you and a very, very sincere Thank You for such a painstaking effort.

    No doubt the number crunching part comes at a later stage, much after a particular business passes your “Circle of Competence” test and “Understanding the Business” part. But the importance of the same can’t be ignored. The valuation part, the arrival at a MBP with suitable MoS , the nitty-gritty of a company’s financial muscle, the existence (or absence) of a moat, as well as the true contributor to a company’s revenue can be gauged only from the numbers. Your excel template will definitely go a long way in helping us put our time(always a scarce commodity) to much more constructive use.

    Regarding Data, yes, that’s a big issue. Even for most of the companies, not more than 3 or maximum 5 ARs are available. The problem is compounded by the fact that many a times there is data mismatch between various sites like moneycontrol, equitymaster, morningstar etc. I guess, the best source is AR only and we can make do with whatever is available to us.

    There are certain sections where I also felt some Graphs would have been better. But it is like as if you are getting one thing free without asking and now you want two 😉 . Will try to add them myself.

    Thanks a lot once again for this stupendous work.

    Reply
    • Krish says

      March 12, 2013 at 6:40 pm

      Sanjeev you can get 10 year financial data for free at craytheon.com

      Reply
      • Sanjeev Bhatia says

        March 12, 2013 at 6:45 pm

        Thanks a lot, Krish. I didnot know about that. Will definitely give it a try.

        Reply
        • Vishal Khandelwal says

          March 12, 2013 at 6:56 pm

          Sanjeev, I will still suggest to cross-check with the annual reports because the idea is to get the numbers directly from ARs as this also cultivates the habit of reading them.

          If you don’t find annual reports for all 10 years, please write to the Company Secretary and they will send the reports. Regards.

          Reply
  27. Krish says

    March 12, 2013 at 6:38 pm

    Vishal, why are you including Other manufacturing expenses in Gross Profit? Shouldn’t it be : Net sales – Cost of goods sold

    The 2009 long term borrowings of asian paints given in the excel is 152 crores while in the annual report its 83.75 crores.

    How should we calculate short term and long term borrowings if the annual report does not have that breakup. Lot of pre 2011 years we just have secured and unsecured loans and many companies don’t give the break up.

    Reply
    • Vishal Khandelwal says

      March 12, 2013 at 6:54 pm

      Hi Krish, COGS will include all direct costs associated with the product, and thus I have included “Other Mfg. Cost”.

      Please don’t go by the data on Asian Paints. I have taken all data from Ace Equity and have not cross-checked with the annual reports. The analysis in this excel is for representation purpose only.

      As for calculating short and long term borrowings, after the change in reporting standards from FY11, you won’t be able to get the exact number but just look at the prior years’ schedules for “Secured loans” and “Unsecured loans” and they will have components for long and short term loans.

      Hope this helps. Regards.

      Reply
  28. Sanjeev Aggarwal says

    March 12, 2013 at 10:17 pm

    You are doing a noble job of educating and empowering the investors through knowledge sharing in taking informed decisions while making investments.
    One can imagine the amount of hardwork work and time you have devoted making the excel sheet.
    Excel sheet is excellent and accept my heartest thanks for making it available to all.
    thanks a lot again.
    regards

    Reply
  29. Rajaji Selvaraju says

    March 13, 2013 at 12:52 am

    Dear Vishal,

    Simply superb!! Instead of giving us fish that serves for a day, but you taught us fishing through this XL that can serve us life time. You truely deserve an appreciation and praise from all of us for the detailed work connecting all the dots in a meaningful way where a lay man can understand.

    regards
    Rajaji

    Reply
  30. sudhir says

    March 13, 2013 at 3:00 pm

    Its a good back of the envelope way. I appreciate your effort in putting this together.
    Of course as you said it is a dipstick and should not be the only tool to decide.

    Reply
  31. lawvio says

    March 15, 2013 at 12:40 pm

    vishal sir, this has been really helpful in many ways. please clarify my doubt regarding calculation of debt burden ratio. y only long term debt taken into consideration. it should be both short term and long term.?as per the video , ” how to read balance sheet”,total debt is taken (long term borrowing n short term)for calculation.
    thanks a lot ..

    Reply
  32. Amit Kinhikar says

    March 19, 2013 at 8:20 am

    Thanks Vishal !
    I was planning to ask you something like this.

    —
    Kind regards,
    Amit

    Reply
  33. satheeshkumar says

    March 19, 2013 at 2:11 pm

    Hello Vishal,
    I am very new into investing and i have found all your posts very usefull. gearing towards the wonderfull world of investing. will stay in touch.
    the excel is exahustive , frank as novice i dont understand many but it is intresting..so manythings to know across..
    also where do we get last 10 years financial data of companies ?
    reg
    satheesh

    Reply
    • Krish says

      March 19, 2013 at 3:33 pm

      You can get last 10 year financial data for free at craytheon.com

      Reply
  34. R.K.Chandrashekar says

    March 19, 2013 at 11:13 pm

    Dear Vishal
    I have no words to express my gratitude for what you have done- with one master stroke you have provided a tool for investors to analyse a company the easy way. This would go a long away to motivate investors who are either scared or plain lazy to do the number crunching. You continue to delight and surprise us !

    Reply
  35. Ananth says

    March 20, 2013 at 4:46 pm

    Dear Vishal
    Thanks a ton for this tool….this was really brilliant ….this is really helpful for beginers like me …. after using this for a particular stock , i have the following questions… could you pls guide me on this ….
    1. The historical earning growth (buffet valuation) number is much much higher than the price valuation from other methods…. does not is scew the fair value calcuation ?
    2. If a company was listed within the last 5 – 6 years, how do we get the financial data for the 10 years period as there wont be any annual reports prior to listing ?

    Reply
  36. natasha says

    March 23, 2013 at 9:01 am

    Hi Vishal,

    Many thanks for the excellent spreadsheet. Life is much more simpler now.

    A suggestion – Would you consider adding another tab on your spreadsheet, which would be called value traps, and could highlight the traps one could fall into despite following the principles.

    Thanks.

    Reply
  37. Vihang Gangan says

    March 26, 2013 at 4:34 pm

    I really think this is a good tool. The beauty of this tool is that it provides objectivity to your gut feeling. For instance, I was convinced of the idea of Abbott pharma as it was a leader in gastro market. However, after putting the number s in the front using this sheet and subsequently reading the annual reports wherever there was a sudden change in the numbers, I realized the time of buying may not be right.
    This tool will help you buy the stock at right time.
    However, I am facing a problem.
    1. What to do in case of stock splits or bonus issues -How to factor these changes in the highest and lowest stock price that we write in Fair Value calculation sheet, and subsequently the PE of the stock

    Reply
    • Krish says

      April 1, 2013 at 4:58 pm

      You have to manually adjust the stock price and earnings per share according to stock split and bonus.

      Check out craytheon.com if you dont want to do it manually.

      Reply
  38. Upendra says

    March 27, 2013 at 3:45 pm

    Thanks a lot for this excel sheet. You made work easier involved in conducting self-analysis of companies by your tribesman.

    Reply
  39. Atul says

    April 6, 2013 at 4:12 pm

    Hi Vishal,
    Thanks for sharing the excel file. I am not sure if I have the right to make such blanker statement but still all the analysis around Indian stock market is “GOOD FOR NOTHING”.
    Following are the reasons:
    1. Govt companies are run with vested interest of involved politicians thus never give money to investors. Infact govt ensures that the company is first fall sick and then it is sold to private people at throw away prices.
    2. Fundamentals of the company or industry does not matter reason Corporate Governance (Management: whats that ???) Look at any of the big groups: Reliance, Adani, Thapars, Modi’s or new age infra giants (All from Andhra and now all are MLA’s or MP’s)
    3. SEBI is tooth less tiger. What they did about Satyam, Reliance Power, Kwality dairy (end less list of big shots forget about fly by night operators)??
    Anything about Indian stock market is speculation, value investing can simply be defined as how good you know an operator and how reliable is your operator.
    Keeping money in bank deposit will not beat the inflation but will grow. In stock market you will either loose all the money or earn nothing in net net terms obviously unless you have great luck or you know the good operators.
    You might agree
    Regards,
    Atul

    Reply
  40. Prashant Pednekar says

    April 23, 2013 at 11:34 am

    hi Vishal,

    First and foremost I would like to thank you for the beautiful site and effort you have taken to develop it.

    I have been doing some technical analysis but after seeing your excel I feel I should move to fundamental analysis and use the fair value as a reference. But before this I want to know something from you honestly. No matter how the fundamentals work there is lot of manipulation in the Indian market. If you see it might take years before traders turn to investors and investors turn traders. What is the way to battle this?

    Reply
  41. cris says

    June 17, 2013 at 3:22 pm

    May I ask if the excel formulas are applicable any other stocks listed elsewhere in the world say Austrslis or Singapore? Hope to hear for you soon

    Reply
  42. VK says

    August 6, 2013 at 6:55 pm

    question– does this sheet factor in debt?

    Reply
    • VK says

      August 6, 2013 at 6:56 pm

      I meant in terms of arriving at various valuations.

      Reply
  43. munjaal says

    November 3, 2013 at 12:19 pm

    wonderful excel brother, really loved your work and I hope to receive newsletters containing some fine techniques of value investing ….

    Reply
  44. James W. says

    November 13, 2013 at 7:25 am

    The spreadsheet needs some work. Personally, I do not like the color red & there is way to much information. You should keep it simple & not allow the brain to get so cluttered. In the real world, you can not forecast cash flow 10 years in advance. If you could, Benjamin Graham would have found a way. Of course the cash statement wasn’t in circulation many decades later & I think the problem with failures in investing is using the cash statement. Benjamin Graham didn’t analysis it so why should I ? The less information to the brain, the better the results of your analysis. It appears fundamental analysis has learned from technical analysis to clutter up the screen. The more information you have, the more roads you have to decide to take. Benjamin Graham formula used earnings & today investors take it where it doesn’t need to go. What is the formula for ? to find the margin of safety & not to go wow! a chest of gold in 10 years. Determine your safety, that is the key. Trends rather technical or fundamental have what purpose ? to compare one apple to another apple. If you flip a coin, you have 2 choices to make.. how much information do you really need to know to make that decision ? Quality is the key, if you can glance at something for 30 seconds then turn the page & glance at something else, your brain has all the information it needs to make a logical decision.. no need to dwell on it. You either have quality or you do not. If you picked 20 fundamentals to analysis, your results would be no different then it you only used 5 fundamentals.. either way, you find quality in what you choose to work with. The more variables you use to arrive at that decision, the less quality & foundation you have. If you simply took 2 of your rules from page 2, you could come to a decision of quality & it would be more solid without hesitation & without question while if you use all the rules, you leave room for failure. The choice is yours, you either find success using 2 variables or you find it using 20 variables.. the result would be the same, your ability to use 2 variables over 20 comes from skill. If you combine Richard Whyckoff & follow the market campaign on those fundamental stocks of quality, you would know which ones have the best leadership for the future 1 year down the road. Once again, you can not precise forecast the cash of a company 10 years down the road. We can try but there would be changes taking place in those 10 years & no formula is going to be able to foretell the future. Benjamin Graham Formula is really all that is needed, it’s simple & in the minds of many, simple doesn’t work in a fast pace technology world while simple will always put you on the right track & keep you there. Good luck!!!

    Reply
  45. Derek says

    January 24, 2014 at 6:37 am

    Hi Vishal,

    Pardon my potential ignorance in the following questions, but, in terms of the layout of the spreadsheet (which is wonderful, by the way), I am finding some names / labels to be unfamiliar (I.E. – L-9 through L-1). In reading through the many comments on your website I certainly understand that this is created for the Indian market.

    My primary question is in terms of converting this into a spreadsheet that would be eligible for use in the US stock market, etc. What in particular would you change to enable that?

    Thank you for the insight and for the spreadsheet itself!

    -D

    Reply
    • Vishal Khandelwal says

      January 24, 2014 at 5:23 pm

      Hi Derek, “L” is the latest year, so L-1 is the previous year and so on. 🙂

      Reply
  46. Vidhya says

    February 17, 2014 at 9:03 pm

    Vishal,

    Really a good piece of work to rest investing minds. Well done.

    Reply
    • Vishal Khandelwal says

      February 22, 2014 at 3:14 pm

      Thanks Vidhya!

      Reply
  47. Balaji says

    February 27, 2014 at 6:00 am

    Hi Vishal,

    I truly admire your passion for investing and helping others understand the basics of saving and investing for a better life. This spreadsheet is a very good template for evaluating Indian Companies. It would be very helpful to non-residential Indians if you could come up with a similar tempate for US based companies.

    Best Regards,
    Balaji

    Reply
  48. Michael O says

    May 4, 2014 at 2:02 am

    Hi Vishal,

    I found your site while searching for value valuation. I must say you have done a great job. I like the two year course outline with all of the reading material. I have been reading some of the same books. I really liked Philip Fisher’s “Common Stocks and Uncommon Profits” and Peter Lynch’s “One Up on Wall Street”. You might enjoy reading John Train’s “Money Masters of Our Time”, copyright in 2000, ISBN 0-887-30970-4. It includes chapters on many of the professional investors like T. Roe Price, Warren Buffet, Philip Fisher, Ben Graham, John Neff, Jim Rogers, George Soros, Peter Lynch, and others plus lesson learned. As you may already know, Buffet was taught by Graham, then later became aware of Fisher and some of his methods as I recall Buffet saying in a book I read. So my impression was that he was using methods from both.

    I just started looking over you spread sheet, which is very well done, and would like to ask you a few questions, if I may do so. First, on the first page, are Rs the currency in your country? Second, what is Fave Value (Rs)? (I can see it is not the current stock price) Third, what is Number of Shares Core? (Is it the Number of Outstanding Shares of Common Stock?) Four, What is Promoter Shareholder (Latest Quarter)? Five, Promoter Pledged Shareholding (Latest Quarter)? I get the impression that the financial reporting is some what different in your country. Six, what does the CAGR percent numbers on the P&L tell me? In addition, I find the comments in the cells very helpful in understanding the various spread sheets. I’ve already signed up for your twenty week emails.

    Thanks in advance for your response. And again great website!

    Best regards,
    Michael O.

    Reply
    • Vishal Khandelwal says

      May 5, 2014 at 9:38 am

      Thanks Michael! I have read “Money Masters…”.

      As for your questions on the excel sheet…

      On the first page, are Rs the currency in your country? Yes. That’s Indian Rupee.

      Second, what is Fave Value (Rs)? It’s not the stock price but the “par value” at which the stock is issued by a company.

      Third, what is Number of Shares Core? That’s the no. of outstanding shares (Crore = Ten Million)

      Four, What is Promoter Shareholder (Latest Quarter)? This is the latest amount of stake held by the company’s promoters.

      Five, Promoter Pledged Shareholding (Latest Quarter)? This is the amount of shares the promoters may have pledged to borrow money.

      Six, what does the CAGR percent numbers on the P&L tell me? CAGR = compounded annual growth rate, or the average annual rate of growth at which the company has grown in the past.

      Hope this helps.

      Reply
  49. Anish Chandy says

    July 11, 2014 at 3:31 pm

    Hi Vishal,

    Great sheet, makes my job simpler. Where do I find minority interest in the balance sheet?

    Reply
    • Vishal Khandelwal says

      July 13, 2014 at 12:33 pm

      Thanks Anish! It’s on the Liabilities side of “consolidated” balance sheets only.

      Reply
  50. Willy says

    July 27, 2014 at 4:12 pm

    Hi there, for this excel sheet, how about for a company which only 3 to 5 years of financial data is available? should i just leave the rest of the red words blank?

    Reply
    • Vishal Khandelwal says

      July 28, 2014 at 6:08 pm

      Yes Willy.

      Reply
  51. komal Oza says

    September 7, 2014 at 4:39 pm

    Its really helpful…Thanks 🙂

    Reply
  52. Aditya Malik says

    October 2, 2014 at 1:36 am

    Hi Vishal,

    I have downloaded the file but it seems to only have sheet 1 and no other sheets.
    Please tell me how to correct this problem

    Thanks-
    Aditya

    Reply
  53. Harsh says

    October 26, 2014 at 8:24 pm

    Great work..
    Vishal. keep it up.. I myself was thinking of making an excel sheet but this one is excellent

    Reply
  54. Priti says

    November 2, 2014 at 4:53 pm

    Hi Vishal,

    The excel model is very good. I had few queries on it-
    1. The balance sheet tab does not tally i.e. total assets and total liabilities do not match. Whether to take only relevant nos or the entire assets and liabilities has to match?
    2. It has only annual figures. How to incorporate quarter financials into this spreadsheet?
    3. in case of DCF tab- the initial cash flow is taken avg cash flow of past 3 years. Any specific reason for not taking only latest years Cash flow. As the net debt is considered for the lastet year, is it not prudent to take intial cash flow of latest year?

    I hope to get the reply from your side

    Reply
  55. kiran says

    December 8, 2014 at 5:11 pm

    I have been looking for a ready made template.
    I googled it for days to reach at this page.
    I really thank you so so so so much…!!!!

    You have done a great work.
    Thing have never been made easy by anyone except SAFALNIVESHAK.
    Jai Ho !!!

    Thanks a ton…..!!!

    Reply
    • Vishal Khandelwal says

      December 8, 2014 at 9:48 pm

      Thanks Kiran!

      Reply
  56. Sampat Bhansali says

    January 7, 2015 at 3:38 pm

    Hey Vishal,

    Want to understands while using the DCF model should one use consolidated figure or standalone figures

    Reply
  57. Munjaal says

    January 7, 2015 at 7:29 pm

    Thank you so much for the excel sheet. It is really very helpful.

    Reply
  58. Suyog says

    February 6, 2015 at 4:02 am

    Nice work Vishal.
    It will be really good if we can map/link this sheet automatically with the moneycontrol.com’s balance sheet ,P/L statement automatically(for the given company).Analysis time can reduce from 30 mins to few seconds….One script needs to be developed for that.I will see if I can do that.

    Thanks,
    Suyog

    Reply
  59. Vikas says

    February 10, 2015 at 4:00 pm

    Hi Vishal,
    Thanks for the template..Just curious if the model will ever throw up investment opportunities..Most of the companies that I have researched are overvalued..

    Reply
  60. Vikas says

    February 11, 2015 at 6:25 pm

    Hi Vishal,
    Just wanted to check if the template provided takes into account Bonus and stock splits as well..

    Thanks
    Vikas

    Reply
  61. Ghassan says

    April 25, 2015 at 10:57 pm

    amazing Job . Thank you sir you help me a lot
    all my appreciate

    Reply
  62. Rakesh says

    May 10, 2015 at 6:18 pm

    Hi,
    Which website would you refer to, to get all the data required in ‘red’ cells in the excel file?
    What I have experienced so far has been all have most of all data, but not all data required. Like moneycontrol doesn’t have 10 yrs data, other sites have 10 yrs data, however, don’t have specific data like minority interest. etc.
    Please help with a website from where all required data can be collected so the analsis time can be cut to the minimum and 30 mins can be practically possible. 🙂
    TIA
    Best Regards,
    Rakesh

    Reply
    • Madan says

      May 23, 2015 at 9:20 am

      Hi Rakesh,

      Please go to the companies site where one can find many years Annual Reports in the Investor Relation link.
      As Vishal has mentioned above it is advised to go through the AR.

      Reply
  63. dhanish jain says

    July 5, 2015 at 6:16 pm

    Mr. Vishal you had done superb work ! Great ! its really very helpful in analysis & projection of fair value of stock .

    Reply
    • Vishal Khandelwal says

      July 6, 2015 at 10:17 am

      Thanks Dhanish!

      Reply
  64. neal says

    July 15, 2015 at 11:00 am

    BIG thank you. This is of great help

    Reply
  65. Cyprezz says

    July 21, 2015 at 8:52 pm

    Tried clicking on the buttons.. but am not getting the link to download the excel?

    Reply
  66. Rishy says

    July 29, 2015 at 12:25 pm

    Hi Vishal,

    I am a relatively new reader to your blog. I want to learn how to analyse a stock but dont know where to start from. Any advice from you would be of help. Thanks in advance.

    Reply
  67. Rajeev Juneja says

    July 31, 2015 at 3:44 pm

    Hi Vishal: I just cant find the link to the excel calculator. Am I missing something or has it been removed.(I have clicked the twitter option).

    Reply
  68. ValueInvestor says

    July 31, 2015 at 5:37 pm

    Hi Vishal,

    I could not find the link for excel file download. I have tried to click all links but none is working properly.

    May be my IT skills are poor.

    thanks
    Value Investor

    Reply
  69. chiral says

    August 15, 2015 at 12:49 pm

    Hi Vishal,
    I tried to download the excel sheet multiple times, shared it on facebook but without success.
    Can you please help?
    Thanks

    Reply
    • Vishal Khandelwal says

      August 17, 2015 at 11:11 am

      Dear Chiral, please send me an email and I will send across the excel.

      Reply
      • ANimish says

        August 17, 2015 at 11:07 pm

        Hi Vishal..if you can send it over to me also –

        dev.animish@gmail.com

        Thank you in advance..
        Animish

        Reply
        • Vishal Khandelwal says

          August 18, 2015 at 9:55 am

          Sent, Dev.

          Reply
  70. Harsh says

    August 17, 2015 at 8:38 pm

    Hi Vishal,

    I tried to download the excel sheet multiple times, shared it on facebook but without success.
    Can you please help?

    Thanks
    harsh

    Reply
  71. Pushp says

    August 18, 2015 at 9:39 pm

    I tried to download but unsuccessful.
    Grateful if you could forward excel
    regards

    Reply
    • Vishal Khandelwal says

      August 19, 2015 at 9:13 am

      I just emailed you the excel.

      Reply
  72. sourav garg says

    August 19, 2015 at 2:48 am

    sir,
    I liked it on fb and also subscribed but didnot recieve spreadsheet!!
    Help sir!!

    Reply
    • Vishal Khandelwal says

      August 19, 2015 at 9:12 am

      I just emailed you the excel.

      Reply
      • Atul says

        August 19, 2015 at 7:38 pm

        Dear Vishal,

        I could not find link for excel download. Can you please send me a copy to mail ID: atuldraval@gmail.com

        Thanks

        Atul

        Reply
        • Vishal Khandelwal says

          August 31, 2015 at 4:49 pm

          Hi Atul, please try again now.

          Reply
      • Harsh says

        August 20, 2015 at 10:44 pm

        Hi Vishal,

        I am unable to download the excel.

        I would be grateful if you can send me the excel sheet over mail.

        Thanks,
        Harsh

        Reply
        • Vishal Khandelwal says

          August 31, 2015 at 4:52 pm

          Hi Harsh, please try again now.

          Reply
      • iamkous says

        August 22, 2015 at 7:57 pm

        Can you please send it to me.. even i am not able to download it.

        thanks in advance

        Reply
        • Vishal Khandelwal says

          August 31, 2015 at 4:43 pm

          Hi Koushal, please try again now.

          Reply
      • Naveen says

        August 22, 2015 at 10:21 pm

        Hi Vishal..if you can send it over to me also – already following you in twiter.

        Thanks in advance.
        Naveen

        Reply
        • Vishal Khandelwal says

          August 31, 2015 at 4:41 pm

          Hi Naveen, please try tweeting about it and then download.

          Reply
      • Dilip says

        August 27, 2015 at 11:29 am

        Hi, I followed you on Twitter and subscribed to your newsletters, but have not got the excel file. Kindly let me know how to download this. Thanks!

        Reply
  73. Sameer sawant says

    August 19, 2015 at 4:02 pm

    Hi Vishal,
    Tried everything but could not get the excels sheet. Can you please send it.
    Regards
    Sameer

    Reply
    • Skanda says

      August 19, 2015 at 11:58 pm

      Hi Vishal,

      can u kindly send me your excel sheet? I’ve tried all the other options above & none seems to work.

      best regards

      Reply
      • Vishal Khandelwal says

        August 31, 2015 at 4:51 pm

        Hi Skanda, please try again now.

        Reply
    • nvksrinivas says

      August 25, 2015 at 10:25 pm

      Hello Sir
      Could not download the excelsheet . Can u please send to the mail id mentioned
      would be grateful
      regds
      nvksrinivas

      Reply
      • Vishal Khandelwal says

        August 31, 2015 at 4:37 pm

        Hi Srinivas, please try now.

        Reply
    • Sundar Nachiyappan says

      August 26, 2015 at 6:01 pm

      Hi Vishal,

      I tried to download the excel and experiencing the problem like other where I’m not get any link that leads to download (I liked, tweeted and followed), Nothing works.

      Can you please send it to me as well?

      Thanks,
      Sundar

      Reply
  74. Mark S says

    August 20, 2015 at 8:01 am

    Hi. I have also tried to tweet, like abd follow, but it doesnt seem to work. Could you please email it to me. Thank you in advance 🙂

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:52 pm

      Hi Mark, please try again now.

      Reply
  75. Mohit says

    August 21, 2015 at 10:18 am

    Hi Vishal,
    Failing to download excel even after trying all the options.
    Can you please send across.

    Thanks in advance

    Regards
    Mohit

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:52 pm

      Hi Mohit, please try again now.

      Reply
  76. Sandeep says

    August 21, 2015 at 11:49 am

    Hi Vishal,

    I am having problems too in downloading the excel inspite of tweeting and following. Can you please email me the file.

    Thanks
    Sandeep

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:52 pm

      Hi Sandeep, please try again now.

      Reply
  77. Carmen Ong says

    August 21, 2015 at 12:17 pm

    I tried but i cannot download the excel. Can you please help to share?

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:52 pm

      Hi Carmen, please try again now.

      Reply
  78. sandeep says

    August 22, 2015 at 5:18 am

    Hi Vishal,

    I am unable to download the file, in spite of tweeting and following. Can you please email me the file.

    Thanks
    Sandeep
    illur81@yahoo.com

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:50 pm

      Hi Sandeep, please try again now.

      Reply
  79. Ajith says

    August 22, 2015 at 9:42 am

    could you please tell me how to download this excel. I have tried all the options given above.

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:47 pm

      Hi Ajith, please try again now.

      Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:48 pm

      Hi Ajith, please try using any social button above and download.

      Reply
  80. Karan Shah says

    August 22, 2015 at 1:20 pm

    Hi Sir,

    Can you please mail me the spread sheet at karan.kds@gmail.com

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:46 pm

      Hi Karan, please try again now.

      Reply
  81. rk says

    August 22, 2015 at 8:44 pm

    hw to download this file. I hv clicked all the social buttons. but of no use…..

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:42 pm

      Hi Ravi, please try again now.

      Reply
  82. Ajinkya Gadge says

    August 23, 2015 at 3:12 pm

    I tried clicking on all 3 buttons but none work….Can u plz e-mail the file ?

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:41 pm

      Hi Ajinkya, please try again now.

      Reply
  83. pariselvakumar says

    August 24, 2015 at 8:12 pm

    hi vishal,

    I am not able to download the excel sheet of the above link. could you please email it.

    thank you

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:39 pm

      Hi, please try again now.

      Reply
  84. Ras says

    August 25, 2015 at 5:36 pm

    Unable to download the excel. Pl email. Thanks in advance.

    Reply
  85. Sumit Agarwal says

    August 25, 2015 at 8:10 pm

    hi!
    I am an MBA Student. I need your excel sheet to learn about DCF and how you have arrived at intrinsic value but I am not able to access it as twitter and facebook links are blocked here.
    Please help me by mailing it to my mail id please
    My mail is : sumitgaga@gmail.com

    I really need it

    Reply
  86. Nigel Fernandes says

    August 25, 2015 at 8:36 pm

    Hi Vishal,

    I tried to download the spreadsheet , but its not happening.

    Kindly mail me the excel sheet.

    Thanks

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:37 pm

      Hi Nigel, please try again now.

      Reply
  87. Karan Samal says

    August 25, 2015 at 9:45 pm

    Thanks Vishal for creating such a wonderful portal for all investors. It shows how much effort you have put. Well, I am a big follower of technical analysis and whichever stock I buy, my holding period is not more than 60 days. (I stay away from day trading) However I never invested in long term portfolios. But now I think I can invest my profits in companies that have good fundamentals. I have learned how to analyze balance sheet and calculate financial ratios from your youtube channel. Because of your videos and this portal, I have confidence that I can learn fundamental analysis and apply the techniques to build a strong portfolio.

    Reply
    • Vishal Khandelwal says

      August 31, 2015 at 4:36 pm

      Thanks for your kind words, Karan!

      Reply
  88. Olakengil Benedict says

    August 26, 2015 at 9:39 am

    Hi Vishal,
    Please send me the Excel Sheet. I am unable to download it.
    Thanks in advance.

    Regards,

    Jacob

    Reply
  89. Sandip Parasnis says

    August 26, 2015 at 2:24 pm

    Vishal,

    I am first time reading your blog on Analyze a Stock in 30 Minutes (Free Excel). Unfortunately I could not download excel file. Can you send me link from where I can download the same?

    Thanks & Regards

    Sandip

    Reply
  90. Sandip Parasnis says

    August 26, 2015 at 2:44 pm

    Can you send me excel sheet on my email id ( sdparasnis@gmail.com) pl?

    Reply
  91. Sundar Nachiyappan says

    August 26, 2015 at 6:02 pm

    Hi Vishal,

    I tried to download the excel and experiencing the problem like other where I’m not get any link that leads to download (I liked, tweeted and followed), Nothing works.

    Can you please send it to me as well?

    Thanks,
    Sundar

    Reply
  92. prabhat says

    August 27, 2015 at 7:11 am

    Hi Vishal,

    I liked it on facebook but no link to receive spreadsheet. Please email to skngn@hotmail.com

    Thanks!

    Reply
  93. Rakesh Seth says

    August 27, 2015 at 8:31 am

    Hi Vishal

    Clicked on Like page and shared to my FB also but unable to see any download link. Have shared my mail id in this comment. Request you to email it please, and thanks for the hard work put in.

    Thanx!

    Reply
  94. Andrew esp says

    August 27, 2015 at 2:45 pm

    HI,

    It appears you have done some good work. I added like on my facebook, but not sure how to download spreadsheet. There is no download link.

    Please advise how to download spreadsheet

    Regards
    Andrew

    Reply
  95. Hiren says

    August 27, 2015 at 9:41 pm

    Please send me the Excel. Does it work on US Stocks?

    Reply
  96. NIkhil Khandelwal says

    August 28, 2015 at 12:04 pm

    Hello Vishalji,

    Thank you so much for this wonderful website and content.
    I am not able to view the Excel Sheet. Can you please mail me.

    Thank you so much.

    Regards,
    Nikhil Khandelwal

    Reply
  97. bharat shah says

    August 28, 2015 at 4:20 pm

    thank you for the post.i could not download the excel sheet. will you please email it to me?

    Reply
    • apatel says

      August 30, 2015 at 5:51 am

      Hi Vishal,

      Great site, I just came across your excellent website. Can you please send me the excel spreadsheets. Will this work for North American stocks

      apatel

      Reply
    • Vishal Nahar says

      August 30, 2015 at 6:58 am

      Hey I too could not download the excel sheet, can you please send it to me as well. Email I’d : naharvishalj@gmail

      Thanks in Advance.

      Reply
  98. Arup Chatterjee says

    August 29, 2015 at 11:35 am

    Dear Vishal,

    Good morning. I have tweeted it. Did not receive any link to download the excel. Am I missing something? if not, can you send me in my inbox please?

    Best wishes to you and keep up the good work.

    Regards,
    Arup

    Reply
  99. MANOJ MENON says

    August 29, 2015 at 2:19 pm

    please mail to me email id.- themanojmenon@gmail.com

    I could not access thru the link

    Thanks

    Reply
  100. Rajender Sharma says

    August 31, 2015 at 1:31 am

    Hi Vishal,

    Can you mail the excel sheet. Seems links are not working.

    Reply
  101. Ravi says

    September 2, 2015 at 5:34 am

    Dear Mr.Vishal,

    Appreciate if you can help fellow tribesmen and me to access the excel in the above post

    Thanks

    Reply
    • Anshul Khare says

      September 23, 2015 at 9:19 am

      Please try this link – https://goo.gl/aZxXWt

      Reply
  102. Sundar Nachiyappan says

    September 2, 2015 at 12:27 pm

    Hello Vishal,

    I’m not able to download the excel thou I liked your FB page.
    Can you please send it to me. My email is sarasundar@gmail.com

    Thanks,
    Sundar

    Reply
    • Anshul Khare says

      September 23, 2015 at 9:19 am

      Please try this link – https://goo.gl/aZxXWt

      Reply
  103. T.C.Ramachandran says

    September 15, 2015 at 9:06 pm

    Dear Vishal,

    Kindly send me the link to open the excel sheet. I am unable to open the file.

    Thanks
    Ramachandran

    Reply
    • Anshul Khare says

      September 23, 2015 at 9:18 am

      Please try this link – https://goo.gl/aZxXWt

      Reply
  104. Anil Balani says

    September 22, 2015 at 3:56 pm

    hi vishal cannot find link to download excel sheet

    Reply
    • Anshul Khare says

      September 23, 2015 at 9:23 am

      Please try this link – https://goo.gl/aZxXWt

      Reply
  105. Raj Iyer says

    November 17, 2015 at 4:24 am

    99.99% of finance blogs I have come across are onerous and use verbiage that would tire an IronMan our. Your blog is beyond fantastic. To be book/money smart is one thing, but to have a sense of humor and the wit to incorporate that in your writing style makes you truly one of a kind. Thanks for sharing this MBA level of information absolutely free of cost. Unbelievable!

    Reply
  106. Raja Dawn says

    December 25, 2015 at 10:06 pm

    Like your attitude. I read Buffettology and was inspired to make one excel sheet myself but then found that for Indian conditions one like yours already exist.

    Keep it up. Great work.

    Reply
  107. abhineet says

    December 26, 2015 at 3:51 pm

    Vishal,
    Great work, excel is very through and does provide lots of information.

    Just one question – Where do you get 10 Years of financial Data ? (Moneycontrol publishes only 5 years of data.)

    Reply
  108. Sooraj says

    September 24, 2016 at 6:12 pm

    Wow. This is amazing stuff, especially for starting investors like me. Thanks for sharing this excel file that eases up things quite a lot, Vishal.

    I have a query though… This is something I’ll use after I’ve shortlisted a few stocks. So, in effect, this is the 2nd step. I would appreciate something that helps with the 1st step too. I’m sure there’s a post on your blog somewhere that’s still relevant today that guides for that. I’ll look around, but it would be great if you could kindly share the link to the post you feel is best suited to my request.

    I thank you for your time, effort and consideration.

    Reply
    • Vishal Khandelwal says

      September 24, 2016 at 8:57 pm

      Glad to know you found the excel valuable, Sooraj. Check this post to screen for stocks that would be the first step in this process. Regards.

      Reply
      • Senthilkumar S says

        February 1, 2017 at 1:50 am

        Vishal, I am a. Beginner in Equity. The above post is useful. Thanks a lot

        Reply
        • Vishal Khandelwal says

          February 1, 2017 at 1:08 pm

          Thanks Senthil!

          Reply
  109. Hari says

    December 11, 2016 at 8:23 pm

    Great Article. Thanks for Developing it. I just subscribed to the newsletter.

    Thanks
    Hari

    Reply
    • Vishal Khandelwal says

      January 11, 2017 at 10:34 am

      Thanks Hari!

      Reply
  110. Parth Verma says

    February 10, 2017 at 2:18 pm

    Hi Vishal,

    I am unable to locate the download link on the page.
    Please guide.

    Reply
  111. Harshit Rastogi says

    February 19, 2017 at 11:17 pm

    Hi Sir I am a 23 years old engineering student . I recently developed interest in capital markets .And want to learn and then earn. . please guide me where should I start my reading journey as I don’t know even the A of Finance..

    Reply
    • Vishal Khandelwal says

      February 20, 2017 at 9:36 am

      Hi Harshit, start here.

      Reply
  112. Sunil says

    June 9, 2017 at 6:49 pm

    I have subscribed but I am unable to find link to download the Stock analysis excel

    Reply
  113. Abhilash SC says

    October 22, 2017 at 4:30 pm

    Very Helpful Sir..Thanks

    Reply
  114. atul jain says

    December 29, 2017 at 5:15 pm

    hats off sir

    Reply
  115. Amit Upadhyay says

    January 8, 2018 at 12:13 pm

    going to put this to good use. Have a lot of learning to do so let’s see how much this can help.

    Reply
  116. Chandrashekhar hull says

    July 2, 2018 at 2:38 pm

    Dear Vishal,
    I am new to investing and finding difficult regarding the cash and bank figures and also the capex value we need to enter in the balance sheet a d epv valuation sheet. Could you please provide me with an example so that the subject is clear to me.
    Thank you

    Reply
  117. sushil kumar says

    July 9, 2019 at 5:42 pm

    hi Vishal

    i am regular tribe at your site and i am subscriber of value invseting Almanack and i am great fan of you the way you express yourself clear and crisp.
    i am not able to downlod the excel from the link request you to pls share on my mail id which i have shared below.
    thanks

    Reply
  118. Payal S. says

    April 19, 2020 at 5:30 pm

    Hi Vishal,

    Hope you are doing well!

    I really appreaciate the hard work and efforts you are putting to educate investors. While going through your blogs, I want to download the Stock Analysis Excel Template. It would be great if you could share with me the same on my email Id.

    Thank you

    Reply

Trackbacks

  1. How to Create Your Circle of Incompetence | Safal Niveshak says:
    April 9, 2013 at 11:49 pm

    […] those you understand (simple businesses), add them to your circle of competence, and then use a basic excel model to do a deeper […]

    Reply
  2. The Most Dangerous Software for Investors | Safal Niveshak says:
    May 30, 2013 at 11:55 am

    […] with their clients, but also investors and businesses. Excel is dangerous! Ever since I shared my investment analysis Excel sheet, I have received a lot of emails from readers who have found “amazing businesses” that were […]

    Reply
  3. Safal Niveshak StockTalk: Amara Raja Batteries says:
    June 16, 2013 at 6:02 pm

    […] not explaining how I arrive at these different valuations, as the calculations are all there in the excel sheet I shared earlier…just that I have done some slight modifications here and there in my […]

    Reply
  4. Safal Niveshak is 2 Years Old | Safal Niveshak says:
    July 11, 2013 at 12:03 am

    […] Analyze a Stock in 30 Minutes […]

    Reply
  5. Intrinsic Value: A Big Deal? | Safal Niveshak says:
    February 7, 2014 at 1:20 am

    […] you can establish this range – which this excel spreadsheet can help you do – you can then determine if the stock is undervalued, overvalued, or fairly […]

    Reply
  6. 5. Calculation of intrinsic value | 100investmentbooksayear says:
    January 9, 2015 at 11:21 am

    […] https://www.safalniveshak.com/analyze-stock-in-30-minutes/ […]

    Reply
  7. Introducing: The DCF Calculator | Safal Niveshak says:
    February 4, 2015 at 9:50 am

    […] since I shared my stock analysis excel a couple of years back, I have received innumerable questions from people who’ve found it […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Join 90000+ Smart Investors

Subscribe to my free e-letter – The Journal of Investing Wisdom – that serves insights on money, investing, and human behaviour...and get instant access to my Exclusive E-Books on Investing + One Stock Analysis Excel. All for FREE!

  • Facebook
  • Instagram
  • Twitter
  • YouTube

Popular Posts

  • Week
  • Month
  • All Time

Week

  • Stock Analysis Excel Template Version 4.0
  • 16 Investing Lessons from a Superinvestor the World Forgot
  • A Story of Courage and Hope from the Life of Charlie Munger
  • 10 Qualities of Great Investors
  • Stock Analysis: The Most Important Things (Plus, A Case Study)

Month

  • Stock Analysis Excel Template Version 4.0
  • 16 Investing Lessons from a Superinvestor the World Forgot
  • 10 Qualities of Great Investors
  • 35 Ideas from 2022
  • A Story of Courage and Hope from the Life of Charlie Munger

All Time

  • Analyze a Stock in 30 Minutes (Free Excel)
  • Stock Analysis Excel Template Version 4.0
  • How to Value Stocks using DCF…and the Dangers of Doing So
  • A 2-Year Course to Become a Smarter, Independent Investor
  • A Guide to Reading for Investors (Plus, What Prof. Sanjay Bakshi Reads)

About   |   Newsletter   |   Courses   |   Books   |   Connect

Uncopyrighted & Handcrafted with in India

  • Twitter
  • Youtube
  • Instagram