Guide
How to value a stock yourself (without Excel)
You can value a stock yourself without Excel by using a browser-based model that runs the math for you while you set the assumptions. The two standard methods are a discounted cash flow, which projects a company's future free cash flow and discounts it back to today, and an EV/EBITDA multiple against comparable peers. A spreadsheet is only a way to hold those formulas; a purpose-built tool holds them for you and recomputes the value as you change an input. Brief Equity's models let you build both a DCF and an EV/EBITDA on your own numbers, keep Bear, Base, and Bull versions side by side, and stress them with sensitivity and Monte Carlo. Base starts on Street consensus, so you adjust from a real anchor.
By The Brief Equity Team · Published
Why you don't need a spreadsheet
A valuation is a set of formulas plus your assumptions. Excel just stores them, and building the sheet by hand is where errors creep in: a mislinked cell, a broken discount factor, a growth rate typed twice. A dedicated model holds the formulas correctly and lets you focus on the inputs that actually matter.
The formulas do not change from company to company. What changes is your view of growth, margins, and the discount rate. Once a tool owns the mechanics, the work becomes what it should be: defending the handful of assumptions that move the answer.
The two ways to value a company
| Method | What it asks | When it fits |
|---|---|---|
| Discounted cash flow | What is the future free cash flow worth today | A company with cash flows you can forecast |
| EV/EBITDA vs peers | What multiple the market pays for similar businesses | A stock best judged against comparable companies |
Most people run both and see where they land. A DCF forces you to state what you actually expect the business to earn, year by year. A comps multiple checks that against what buyers are paying for the peer group right now.
When the two methods disagree, the gap is worth understanding before you act on either.
How to run your own valuation, step by step
- Pick the method: a DCF for cash-flow forecasting, an EV/EBITDA multiple for a peer check, or both.
- Set your assumptions for growth, margins, and the discount rate, starting from consensus rather than a blank sheet.
- Read the fair value the model computes, then drag an input to see how much the answer depends on it.
- Build Bear, Base, and Bull versions so you carry a range, not a single false-precision number.
The point is not to land on one figure. It is to see how far the value swings when a key assumption moves, so you know which inputs your thesis really rests on.
Valuing a stock in Brief Equity
Brief Equity's models run a DCF and an EV/EBITDA in the browser on assumptions you control. Drag any input and the valuation recomputes. Keep Bear, Base, and Bull side by side, map fair value across two drivers with sensitivity, and run Monte Carlo for a full distribution. Base starts on Street consensus, and peer comps sit alongside.
Every version can be saved as a snapshot to restore or compare later, and the model refreshes to the newest filings and consensus on demand. It is your valuation, built on numbers you can defend, not a target handed to you.
Frequently asked questions
- Can I build a DCF without Excel?
- Yes. Brief Equity's models run a discounted cash flow in the browser, with the formulas already in place. You set growth, margins, and the discount rate, and the fair value recomputes as you adjust them, so there is no spreadsheet to wire up.
- What is the easiest way to run my own valuation?
- Start from consensus rather than a blank sheet. A tool that seeds the Base case with Street numbers lets you adjust a few key assumptions instead of building every formula, which is the fastest path to a valuation you understand.
- What valuation methods can I use?
- Brief Equity supports a discounted cash flow and an EV/EBITDA multiple against peers, both driven by your own assumptions. You can also run sensitivity and Monte Carlo analysis to see how the value moves across a range of inputs.
- Do I have to start from scratch?
- No. The Base case starts on the latest Street consensus, so you adjust from a real anchor instead of an empty model. From there you build Bear and Bull versions to carry a range of outcomes.
Brief Equity is built by investors, for investors. For research, not investment advice; market data is delayed. Figures and rules reflect public information at the time of writing and can change. Verify anything time-sensitive at the linked primary source.