Three-Statement Model
Linked Income Statement, Balance Sheet & Cash Flow with circularity solver, working capital (DSO/DIO/DPO), debt scheduling, NOL carryforward, and balance sheet check.
Overview
What is a Three-Statement Model?
A Three-Statement Model links the Income Statement, Balance Sheet, and Cash Flow Statement into a single integrated financial model. Changes in revenue flow through to EBITDA, affect working capital on the balance sheet, and ultimately determine free cash flow. It's the foundation of all advanced financial modeling.
Every financial analyst builds three-statement models. It's the prerequisite for DCF, LBO, and M&A models — you can't value a company without first projecting its financials. Finance courses teach this as the core modeling skill.
Features
What you get with this model
Full Income Statement, Balance Sheet, and Cash Flow projection
Circularity solver (10-iteration convergence for interest expense)
Working capital from DSO, DIO, DPO drivers
Vintage-based depreciation tracking
NOL carryforward and tax scheduling
Automatic balance sheet balancing with live ticker data
Formula-driven Excel export with cross-sheet references
Use cases
How to use this model
Foundation for all other models: build this first
Interview prep: demonstrate you can build a model from scratch
Company analysis: project financials for any public company
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