Free tools to sharpen the fundamentals.
No sign-up, no paywall. Quick drills you can run between lectures or before a round. When you want the full workbench, with real models, comps and SEC-graded estimates, that’s the Inner Circle.
Where to start: each group runs in order, so open the first card in the topic your next round will test; the tags on a card show which seats it matters for and how long a first pass takes.
Deal Simulations
1 labReal transactions, real constraints, and a decision to make rather than a number to find.
Valuation
7 labsWhat a business is worth, and every argument you have to survive to say so.
WACC Builder
Build a discount rate you can defend line by line: beta, equity risk premium and cost of debt, each from a source you can name.
OpenBeta Refresher
Estimate a beta, see how far one regression lands from the truth, and know when to use raw, adjusted, unlevered or bottom-up.
OpenReverse DCF
Read off the growth a share price already assumes, and say whether that is plausible before anyone asks.
OpenDCF Builder
Build a DCF by hand from revenue to a share price, know how much of it sits in the terminal value, and name the one assumption the answer hinges on.
OpenComps Explorer
Curate a peer set you can defend name by name, calendarise it to one year end, and say what the median does and does not tell you.
OpenEV to Equity Bridge
Walk from enterprise value to a price per share without dropping a claim: net debt, pensions, minorities, leases and options.
OpenName That Multiple
Place a business in the right EV/EBITDA band from its quality alone, and say what drives it.
OpenCorporate Finance
5 labsHow a company is funded, and what the financing does to returns.
Optimal Capital Structure
Explain why more debt stops helping: watch coverage, rating and spread move as leverage rises until WACC turns.
OpenPaper LBO Trainer
Solve MOIC and IRR in your head from a deal you have never seen, in under ten minutes.
OpenNapkin LBO
Sketch a full buyout by hand, from sources and uses through the debt paydown to the return, and say which bucket the return depends on.
OpenIRR by Eye
Say the IRR for any multiple and hold before the interviewer finishes the sentence, and the multiple for any IRR.
OpenLBO Modelling Test
Sit the one-hour test under a clock, in the browser or in your own workbook, and get every line of the build marked.
OpenM&A
1 labWhat happens to the numbers when two companies become one.
Accounting
1 labHow the statements are built, and where the judgement sits.
Product & Data
6 labsThe quantitative rounds in product, APM, BizOps and analytics interviews.
AI Product Sense Drill
Decide what a model does unsupervised, how you would know it works, and which failure mode is the expensive one — out loud, at interview pace.
OpenWritten Case Drill
Write a recommendation that leads with the decision, names the option you rejected and says how it could be wrong, inside the time a take-home allows.
OpenProduct Metrics Tree
Name the right north star for a product shape, and the guardrail your change would break.
OpenUnit Economics
Build an LTV:CAC you could defend under questioning, and answer payback as its own question.
OpenA/B Test Designer
Size a test before it runs, then read a result and claim only what it entitles you to.
OpenSQL Cohort Drill
Write the cohort, retention and rolling-active queries interviews ask for, and read each result without misreading it.
OpenEngineering
1 labThe back-of-envelope work a system design round is actually testing.
Technique
5 labsThe mechanics you are expected to have automatic.
Numerical Reasoning Gym
Read a table, pick the right base and answer in 75 seconds, with the tempting wrong answers no longer tempting.
OpenHireVue Studio
Answer to a camera, on a clock, with no second take, and score yourself against what the round assesses.
OpenMental Math Gym
Do the multiplication, percentages and growth that come up live in the room, fast and without a calculator.
OpenExcel Shortcut Trainer
Have paste values, fill right, trace precedents and the rest in your fingers before a modelling test puts a clock on them.
OpenMarket Sizing Drill
Turn a question with no data into a chain of factors a stranger can follow, and find the term that carried your error.
OpenDone warming up? Run the real workflow.
Each drill has a professional counterpart in L3VLUP Skills: the same concept, executed the way the job executes it, with AI handling the grunt work and you owning the judgment.
WACC Builder →
Research Analyst Price Targets
Show what the Street thought the company was worth before the deal, honestly discounted.
Beta Refresher →
Weighted Average Cost of Capital
Build the discount rate from peers rather than choosing it.
Reverse DCF →
Earnings Teardown
Understand what actually changed this quarter — before the market finishes deciding.
DCF Builder →
Board Book Studio
Turn a company name into a board book: every valuation page as a working model and a branded slide.
Comps Explorer →
Board Book Studio
Turn a company name into a board book: every valuation page as a working model and a branded slide.
EV to Equity Bridge →
Summary of Proposed Transaction
Put the terms and the multiples they imply on one page, the way a director reads them.
Name That Multiple →
Earnings Teardown
Understand what actually changed this quarter — before the market finishes deciding.
Paper LBO Trainer →
Model Audit
Find the errors in a financial model before someone senior does.
Napkin LBO →
Leveraged Buyout, Ability to Pay
Work out what a sponsor could pay and still earn its return.
IRR by Eye →
Leveraged Buyout, Ability to Pay
Work out what a sponsor could pay and still earn its return.
Accretion / Dilution Animator →
Model Audit
Find the errors in a financial model before someone senior does.
Three-Statement Linker →
Management Projections
Lay out the plan every valuation downstream depends on, and show what a haircut does to it.
Mental Math Gym →
Filing Diff
Find what materially changed between this filing and the last one.
Excel Shortcut Trainer →
Sensitivity Analysis
Show how the value moves with the two assumptions that carry it.
The Labs are the warm-up. The Inner Circle is the gym.
Full modelling workbench with DCF, comps, LBO models and Variant’s SEC-graded estimates, plus the off-cycle network and Suro’s direct guidance.
Tell us how you actually prepare. 15 minutes, 30% off.
This site is built out of conversations with the people using it. Book a short call, walk us through what you are preparing for and where the site helps or does not, and take 30% off any review or session as a thank-you.
Reps build speed. Feedback builds judgement.
The drills get your mechanics fast. A discovery session finds the thing the drills cannot see, and the bootcamps drill it with you in the room.