M&A Pro Forma
Corporate Finance Excel Template (Free Download)
Project target valuation, transaction structure, synergies, financing, accretion, dilution, and returns for an M&A decision.
professionals from Deloitte
About this pro forma
This pro forma consolidates the projected outputs needed to evaluate an acquisition: standalone target performance, DCF value, trading comparables, precedent transactions, purchase price, financing mix, synergies, and integration costs. It shows how the proposed deal changes the combined company.
Use the projections to assess offer attractiveness, pro forma earnings, accretion or dilution, leverage, and valuation range. The Excel model is the calculation engine; this pro forma is the projected transaction decision output.
What every model includes
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
What's inside the M&A Pro Forma
- Standalone target forecast and DCF valuation
- Trading comparables and precedent transaction outputs
- Cash, stock, and mixed consideration scenarios
- Synergy, integration cost, and purchase accounting view
- Pro forma earnings, accretion, and dilution projection
- Leverage, financing, and transaction sensitivity outputs
Formatted to IB standards
Named theme colors repaint the whole workbook in one click, on top of an investment-banking structure with clear input, output, and cross-sheet reference styling - brand-ready, institutional-grade, and fully auditable.
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
Frequently asked
What does the M&A pro forma include?+
It includes target valuation, transaction structure, synergies, financing, pro forma earnings, and accretion or dilution outputs.
Can I compare deal structures?+
Yes. All-cash, stock, and mixed consideration scenarios can be compared through the projected outputs.
Are synergies included?+
Yes. Synergy timing and integration costs flow into the combined-company projection.
What is the calculation engine?+
The underlying Excel M&A model performs the linked valuation and transaction calculations; the pro forma presents the results.
Have more financial modelling questions? Contact us
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