---
title: "Financial models"
description: "Build your own discounted cash flow view of a company with SEC filings, then save, share and export your scenarios."
---

> Documentation Index
> Fetch the complete documentation index at: https://docs.sureshake.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Financial models

Use a model to work out what a company is worth under your own assumptions. Models start from a company's SEC filings, so they're for companies that file with the SEC. Use them to benchmark yourself against public peers or to pressure-test a comparable's valuation.

> **Caution**
>
> Model output is user-generated analysis based on the assumptions you see. It
> isn't issuer guidance, an analyst target or investment advice.

You don't need to sign in to open, edit or export a model. You do need to sign in to save a scenario, create a share link or use the AI assistant.

## Open a model

1. **Go to the company's page**

   Open the company's public page at `/c/{slug}`, or use a ticker link such as
   `/t/{ticker}`.
2. **Open its models**

   Choose the **Models** tab. The full list is at `/c/{slug}/models`.
3. **Pick a template**

   Six discounted cash flow models are fully editable: terminal growth, EBITDA
   exit and revenue exit, each over 5 or 10 years. Choose **View model**.

## Read the summary

- **Fair Value** is the mid scenario's value per share, with the low-to-high range. If the filings don't provide a share count, the per-share value can't be shown.
- **Range** and **Conclusion** show each headline input's low-to-high range and the mid value, ending in fair value.
- **KPI tiles** show growth and margins over the projection period, updated from your assumptions.
- **Stock Price** and **Upside** appear only when market data exists for the company.

## Change the assumptions

Each tab holds one set of inputs. Change a cell and the tables update.

| Tab                  | What you edit                                                      |
| -------------------- | ------------------------------------------------------------------ |
| **Revenue & EBITDA** | Revenue growth, EBITDA margin and other income or expense, by year |
| **CapEx**            | Capital expenditures as a percentage of revenue, by year           |
| **Working Capital**  | Net working capital as a percentage of revenue, by year            |
| **D&A**              | Depreciation and amortization as a percentage of revenue, by year  |
| **Tax Rate**         | Tax rate, by year                                                  |
| **Discount Rate**    | Low, mid and high discount rates                                   |
| **Terminal Value**   | Low, mid and high exit multiple or terminal growth                 |

Each year is its own input, so you can model a margin dip in year 2 and a recovery in year 4. Where the filings have the data, the tabs include history you can anchor to. Choose **Reset** to clear your changes.

## Understand low, mid and high

Each model calculates three scenarios at once.

- **Mid** is the base case and the headline conclusion.
- **Low** pairs the highest discount rate with the most conservative terminal value.
- **High** pairs the lowest discount rate with the most generous terminal value.

If you change a mid rate, the low and high edges adjust around it, unless you've set an edge yourself.

## Check the calculations

**Supporting Calculations** shows the working:

- **Free Cash Flow**
- **Discounting Periods**
- **Discounting Factors**
- **Enterprise Value**
- **Equity Waterfall**

## Save, share and export

- **Save** stores your changes as a named scenario. Saved scenarios are listed under **Scenarios** and are private to your account.
- **Share** creates a read-only link to a saved scenario. Anyone who opens it sees the model with your assumptions, and their own edits stay on their page.
- **Export as...** downloads the model as CSV or Excel, including your changes.

## Use the AI assistant

Choose **AI** to ask about the model on screen, such as what's driving the gap between the low and high scenarios. It can suggest changes to your assumptions. Nothing changes until you choose **Apply to model**.

Source: https://docs.sureshake.com/founders/financial-models/index.mdx