Free LBO Model
Study and change a completed distribution LBO, including debt repayment and returns.
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Practical guides, free models and templates, and realistic practice cases. Built for understanding deals, improving your models, and preparing for finance interviews.
| Entry multiple | |||
|---|---|---|---|
| Exit multiple | 6.5× | 7.5× | 8.5× |
| 6.5× | 23.3% | 17.5% | 12.9% |
| 7.5× | 26.7% | 20.7% | 16.1% |
| 8.5× | 29.8% | 23.6% | 19.9% |
Free resources
Free LBO Modeling Test
Attempt the 60-minute Port Alder case, then compare your work with the answer and walkthrough.
No signup or card. Start the timer inside the case.
Try the Free Test
Free PE Resume Template
Start with an editable Word résumé and a PDF reference.
Enter your email, then download the Word and PDF files on the page.
Get the Resume TemplatePractice tests
Prepare for private equity, investment banking, and credit interviews with a case that matches your format and deadline.
60-Minute Clean-Sheet Three-Statement LBO
Juniper Trace Technology Services
Model the acquisition and its financing, follow the cash through a recession, and calculate what the sponsor receives at exit.
60 minutes $39
Preview & details3-Hour Purchase Accounting & Exit Waterfall
Bramblewick Seafood
Underwrite volume and price by channel, fund the plant expansion and allocate exit proceeds.
3 hours $59
Preview & details48-Hour Take-Home LBO & Five Diligence Requests
Penwick Process Water
Underwrite recurring chemistry and project-based equipment for a regional industrial-water provider.
48-hour submission window $89
Preview & detailsWhere the cases came from
I might not have been the best at selling myself in interviews or deciding where I wanted to work, but I was good at the modeling tests. Over my finance career, I passed 25+ of them (not even counting the ones I took in college or live paper LBOs).
“You have three hours from receipt of the accompanying CIM and financial information. Start from a blank workbook. Do not use a template, preset model or preformatted shell.”Read the excerpt (PDF)
Technical Library
Build the model, trace the cash, and understand what drives the return.
- How to build an LBO model17 min
- Enterprise value vs. equity value30 min
- Net operating working capital25 min
- Private equity value-creation levers27 min
- DPI and fund liquidity22 min
- Five common LBO modeling traps11 min
Career Toolkit
Prepare for interviews, compare career paths, and navigate PE recruiting.
- Breaking into PE without banking30 min
- PE salary benchmarks and carry calculator32 min
- Private equity interview questions24 min
- PE resume template and bullet-writing guide48 min
- Off-cycle PE recruiting timeline18 min
- Private equity networking21 min
Tools and calculators
- Private Equity ToolsReturns calculators, deal screening gates, and fund mechanicsTask router
- Returns LabIRR/MOIC, EV bridge, sources & uses, and waterfall calculators5 calculators
- Private Equity GlossaryCore PE and LBO terms with formulas and visual exhibits51 terms
- AI in Private EquityPractical workflows for CIM-to-IC memos, NDA checks, and model review3 workflows
Andrew Gallagher
I worked in middle-market investment banking and private equity. I built UpLevered to share the guides and worked examples I wanted on the job.
About AndrewGet practical PE guides, models, and new cases
I send occasional emails with worked examples, free resources, recruiting advice, and new practice cases.